Cim Real Estate Finance Trust (CMRF) S-4 19 Oct 21 Registration of securities issued in business combination transactions Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2021
Cover [Abstract]
Document Type	S-4
Entity Registrant Name	CIM REAL ESTATE FINANCE TRUST, INC.
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001498547
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Real estate assets:
Land	$ 843,192	$ 881,896	$ 700,210
Buildings, fixtures and improvements	2,267,204	2,490,030	1,830,101
Intangible lease assets	367,622	389,564	313,127
Condominium developments	197,080	0
Total real estate assets, at cost	3,675,098	3,761,490	2,843,438
Less: accumulated depreciation and amortization	(472,399)	(453,385)	(374,103)
Total real estate assets, net	3,202,699	3,308,105	2,469,335
Real estate-related securities	42,071	38,194	0
Loans held-for-investment and related receivables, net	1,356,247	962,624	301,630
Less: Allowance for credit losses	(13,011)	(70,358)	0
Total loans held-for-investment and related receivables, net	1,343,236	892,266	301,630
Cash and cash equivalents	141,299	121,385	466,024
Restricted cash	32,918	7,023	7,331
Rents and tenant receivables, net	57,945	74,419	58,374
Prepaid expenses and other assets	17,028	10,406	11,731
Deferred costs, net	5,842	4,293	2,301
Assets held for sale	6,124	3,518	351,897
Total assets	4,849,162	4,459,609	3,668,623
LIABILITIES AND STOCKHOLDERS' EQUITY
Credit facilities, notes payable and repurchase facilities, net	2,540,809	2,144,993	1,604,860
Accrued expenses and accounts payable	35,102	30,419	22,038
Due to affiliates	15,957	14,723	14,458
Intangible lease liabilities, net	27,578	32,718	20,523
Distributions payable	10,997	10,969	16,510
Deferred rental income, derivative liabilities and other liabilities	19,686	27,361	19,448
Total liabilities	2,650,129	2,261,183	1,697,837
Commitments and contingencies
Redeemable common stock	173,628	0	180,838
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding	0	0	0
Common stock, value	3,629	3,620	3,112
Capital in excess of par value	2,990,971	3,157,859	2,606,925
Accumulated distributions in excess of earnings	(971,826)	(961,006)	(816,181)
Accumulated other comprehensive income (loss)	2,631	(2,047)	(3,908)
Total stockholders' equity	2,025,405	2,198,426	1,789,948
Total liabilities, redeemable common stock and stockholders' equity	$ 4,849,162	$ 4,459,609	$ 3,668,623

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	10,000,000	10,000,000	10,000,000
Preferred stock, shares issued (shares)	0	0	0
Preferred stock, shares outstanding (shares)	0	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	490,000,000	490,000,000	490,000,000
Common stock, shares issued (shares)	362,923,841	362,001,968	311,207,725
Common stock, shares outstanding (shares)	362,923,841	362,001,968	311,207,725

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Rental and other property income	$ 75,302	$ 60,103	$ 152,232	$ 128,539	$ 261,530	$ 393,224	$ 429,636
Interest income	16,460	7,193	28,413	12,764	29,393	20,132	1,640
Total revenues	91,762	67,296	180,645	141,303	290,923	413,356	431,276
Operating expenses:
General and administrative		3,020		5,902	15,385	13,729	14,127
Property operating		4,811		11,676	23,399	33,462	30,267
Real estate tax	7,706	6,748	19,925	13,726	27,691	32,196	37,898
Expense reimbursements to related parties	3,210	3,057	5,871	5,235
Management fees	11,755	9,750	23,332	19,600
Management and advisory fees and expenses					44,743	42,339	43,399
Transaction-related	27	125	31	250	905	2,278	2,601
Depreciation and amortization	24,647	19,696	50,385	40,519	80,973	107,867	140,979
Real estate impairment	77	3,831	4,377	15,507	16,737	72,939	32,975
Provision for credit losses	123	7,905	691	25,682	68,356	0	0
Total operating expenses	62,506	58,943	134,120	138,097	278,189	304,810	302,246
Gain on disposition of real estate and condominium developments, net	46,469	3,791	46,469	16,901	27,518	180,666	6,299
Merger-related expenses, net					(2,193)	0	0
Merger termination fee income					7,380	0	0
Operating income	75,725	12,144	92,994	20,107	45,439	289,212	135,329
Other expense:
Interest expense and other, net	(16,460)	(15,520)	(36,482)	(31,276)	(64,116)	(98,965)	(97,871)
Loss on extinguishment of debt	(1,478)	(370)	(1,478)	(4,752)	(4,841)	(7,227)	(46)
Total other expense	(17,938)	(15,890)	(37,960)	(36,028)	(68,957)	(106,192)	(97,917)
Net income (loss)	$ 57,787	$ (3,746)	$ 55,034	$ (15,921)	(23,518)	183,020	37,412
Net income allocated to noncontrolling interest					0	121	134
Net income attributable to the Company					$ (23,518)	$ 182,899	$ 37,278
Weighted average number of common shares outstanding:
Basic and diluted	362,448,778	310,558,499	362,226,607	310,903,460	311,808,605	311,302,909	311,478,665
Net income (loss) per common share:
Basic and diluted	$ 0.16	$ (0.01)	$ 0.15	$ (0.05)	$ (0.08)	$ 0.59	$ 0.12

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 57,787	$ (3,746)	$ 55,034	$ (15,921)	$ (23,518)	$ 183,020	$ 37,412
Other comprehensive income (loss)
Unrealized gain on real estate-related securities	1,930	20	2,052	20	1,657	0	0
Reclassification adjustment for realized gain included in income as other income	(648)	0	(648)	0	(510)	0	0
Unrealized (loss) gain on interest rate swaps	(52)	(805)	71	(11,610)	(11,607)	(11,456)	8,210
Amount of loss reclassified from other comprehensive income (loss) into income (loss) as interest expense and other, net	71	3,343	3,203	4,320	12,321	3,475	4,305
Total other comprehensive income (loss)	1,301	2,558	4,678	(7,270)	1,861	(14,931)	3,905
Comprehensive income (loss)	59,088	(1,188)	$ 59,712	$ (23,191)	(21,657)	168,089	41,317
Comprehensive income allocated to noncontrolling interest					0	121	134
Comprehensive (loss) income attributable to the Company	$ 59,088	$ (1,188)			$ (21,657)	$ 167,968	$ 41,183

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Revision of Prior Period, Accounting Standards Update, Adjustment	Common Stock	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings	Accumulated Distributions in Excess of EarningsRevision of Prior Period, Accounting Standards Update, Adjustment	Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) IncomeRevision of Prior Period, Accounting Standards Update, Adjustment
Beginning balance (shares) at Dec. 31, 2017			311,582,319
Beginning balance at Dec. 31, 2017	$ 1,970,212	$ 0	$ 3,116	$ 2,607,300	$ (646,834)	$ (488)	$ 6,630	$ 488
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)			9,615,850
Issuance of common stock	91,764		$ 96	91,668
Equity-based compensation (shares)			14,008
Equity-based compensation	33			33
Distributions declared on common stock	(194,573)				(194,573)
Redemptions of common stock (shares)			(9,830,781)
Redemptions of common stock	(93,830)		$ (98)	(93,732)
Changes in redeemable common stock	2,061			2,061
Comprehensive (loss) income	41,183				37,278		3,905
Ending balance (shares) at Dec. 31, 2018			311,381,396
Ending balance at Dec. 31, 2018	1,816,850		$ 3,114	2,607,330	(804,617)		11,023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)			9,335,895
Issuance of common stock	82,388		$ 93	82,295
Equity-based compensation (shares)			18,499
Equity-based compensation	138			138
Distributions declared on common stock	(194,463)				(194,463)
Redemptions of common stock (shares)			(9,528,065)
Redemptions of common stock	(84,088)		$ (95)	(83,993)
Changes in redeemable common stock	1,155			1,155
Comprehensive (loss) income	$ 167,968				182,899		(14,931)
Ending balance (shares) at Dec. 31, 2019	311,207,725		311,207,725
Ending balance at Dec. 31, 2019	$ 1,789,948	(2,002)	$ 3,112	2,606,925	(816,181)	(2,002)	(3,908)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)			2,223,298
Issuance of common stock	19,231		$ 22	19,209
Equity-based compensation	40			40
Distributions declared on common stock	(48,332)				(48,332)
Redemptions of common stock (shares)			(2,256,037)
Redemptions of common stock	(19,514)		$ (22)	(19,492)
Changes in redeemable common stock	283			283
Comprehensive (loss) income	(22,003)				(12,175)		(9,828)
Ending balance (shares) at Mar. 31, 2020			311,174,986
Ending balance at Mar. 31, 2020	$ 1,717,651		$ 3,112	2,606,965	(878,690)		(13,736)
Beginning balance (shares) at Dec. 31, 2019	311,207,725		311,207,725
Beginning balance at Dec. 31, 2019	$ 1,789,948	$ (2,002)	$ 3,112	2,606,925	(816,181)	$ (2,002)	(3,908)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)			4,211,747
Issuance of common stock	34,191		$ 42	34,149
Issuance of common stock in connection with the Mergers (shares)			52,574,431
Issuance of common stock in connection with the Mergers	384,319		$ 526	383,793
Equity-based compensation (shares)			22,059
Equity-based compensation	160			160
Distributions declared on common stock	(119,305)				(119,305)
Redemptions of common stock (shares)			(6,013,994)
Redemptions of common stock	(48,066)		$ (60)	(48,006)
Changes in redeemable common stock	180,838			180,838
Comprehensive (loss) income	$ (21,657)				(23,518)		1,861
Ending balance (shares) at Dec. 31, 2020	362,001,968		362,001,968
Ending balance at Dec. 31, 2020	$ 2,198,426		$ 3,620	3,157,859	(961,006)		(2,047)
Beginning balance (shares) at Mar. 31, 2020			311,174,986
Beginning balance at Mar. 31, 2020	1,717,651		$ 3,112	2,606,965	(878,690)		(13,736)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)			1,242,475
Issuance of common stock	9,543		$ 12	9,531
Equity-based compensation	40			40
Distributions declared on common stock	(13,072)				(13,072)
Redemptions of common stock (shares)			(2,468,754)
Redemptions of common stock	(19,191)		$ (25)	(19,166)
Changes in redeemable common stock	9,643			9,643
Comprehensive (loss) income	(1,188)				(3,746)		2,558
Ending balance (shares) at Jun. 30, 2020			309,948,707
Ending balance at Jun. 30, 2020	$ 1,703,426		$ 3,099	2,607,013	(895,508)		(11,178)
Beginning balance (shares) at Dec. 31, 2020	362,001,968		362,001,968
Beginning balance at Dec. 31, 2020	$ 2,198,426		$ 3,620	3,157,859	(961,006)		(2,047)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	40			40
Distributions declared on common stock	(32,906)				(32,906)
Comprehensive (loss) income	624				(2,753)		3,377
Ending balance (shares) at Mar. 31, 2021			362,001,968
Ending balance at Mar. 31, 2021	2,166,184		$ 3,620	3,157,899	(996,665)		1,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)			917,769
Issuance of common stock	6,660		$ 9	6,651
Equity-based compensation (shares)			4,104
Equity-based compensation	49			49
Distributions declared on common stock	(32,948)				(32,948)
Changes in redeemable common stock	(173,628)			(173,628)
Comprehensive (loss) income	$ 59,088				57,787		1,301
Ending balance (shares) at Jun. 30, 2021	362,923,841		362,923,841
Ending balance at Jun. 30, 2021	$ 2,025,405		$ 3,629	$ 2,990,971	$ (971,826)		$ 2,631

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 30, 2020	Nov. 27, 2020	Oct. 29, 2020	Sep. 29, 2020	Aug. 28, 2020	Jul. 30, 2020	Jun. 30, 2020	May 31, 2020	Apr. 30, 2020	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Distributions declared on common stock (USD per share)	$ 0.0303	$ 0.0303	$ 0.0303	$ 0.0303	$ 0.0303	$ 0.0304	$ 0.0161	$ 0.0130	$ 0.0130	$ 0.09	$ 0.09	$ 0.04	$ 0.15	$ 0.38	$ 0.625	$ 0.625

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Cash flows from operating activities:
Net income (loss)	$ 55,034,000	$ (15,921,000)	$ (23,518,000)	$ 183,020,000	$ 37,412,000
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization, net	49,184,000	39,886,000	79,546,000	106,262,000	139,330,000
Amortization of deferred financing costs	3,782,000	2,034,000	4,245,000	5,167,000	5,351,000
Amortization of fair value adjustment of mortgage notes payable assumed	(149,000)	(45,000)	(92,000)	(90,000)	(88,000)
Amortization and accretion on deferred loan fees	(817,000)	(1,425,000)	(1,909,000)	(2,441,000)	(268,000)
Amortization of premiums and discounts on credit investments	(3,767,000)	(194,000)	(668,000)	0	0
Capitalized interest income on real estate-related securities	(435,000)	(539,000)	(539,000)	(8,546,000)	0
Equity-based compensation	89,000	80,000	160,000	138,000	33,000
Straight-line rental income	(2,756,000)	(2,083,000)	(6,738,000)	(6,564,000)	(8,077,000)
Write-offs for uncollectible lease-related receivables	591,000	5,870,000	5,664,000	952,000	522,000
Gain on disposition of real estate assets and condominium developments, net	(46,469,000)	(16,901,000)	(27,518,000)	(180,666,000)	(6,299,000)
Loss on sale of credit investments, net			227,000	0	0
Gain on sale of credit investments, net	(813,000)	(223,000)
Amortization of fair value adjustment and gain on interest rate swaps	(2,757,000)	(10,000)	(13,000)	(18,000)	0
Impairment of real estate assets	4,377,000	15,507,000	16,737,000	72,939,000	32,975,000
Provision for credit losses	691,000	25,682,000	68,356,000	0	0
Write-off of deferred financing costs	45,000	544,000	633,000	2,271,000	46,000
Changes in assets and liabilities:
Rents and tenant receivables, net	15,315,000	(12,958,000)	(12,536,000)	16,034,000	(2,432,000)
Prepaid expenses and other assets	(6,083,000)	2,045,000	1,276,000	(6,456,000)	(833,000)
Accrued expenses and accounts payable	707,000	1,427,000	4,212,000	(1,742,000)	14,000
Deferred rental income and other liabilities	(1,656,000)	(4,885,000)	(508,000)	(987,000)	4,921,000
Due from affiliates			0	0	56,000
Due to affiliates	1,234,000	(662,000)	(656,000)	9,302,000	3,172,000
Net cash provided by operating activities	65,347,000	37,229,000	106,361,000	188,575,000	205,835,000
Cash flows from investing activities:
Cash acquired in connection with the Mergers			13,810,000	0	0
Investment in real estate-related securities	(28,509,000)	(16,450,000)	(76,644,000)	0	0
Investment in broadly syndicated loans	(142,324,000)	(404,896,000)	(582,654,000)	(2,750,000)	0
Investment in real estate assets and capital expenditures	(14,543,000)	(7,171,000)	(48,995,000)	(23,887,000)	(19,202,000)
Origination and acquisition of loans held-for-investment, net	(533,222,000)	(1,165,000)	(238,563,000)	(217,014,000)	(89,295,000)
Origination and exit fees received on loans held-for-investment	4,694,000	571,000	3,200,000	1,697,000	185,000
Principal payments received on loans held-for-investment	97,459,000	63,592,000	119,443,000	17,186,000	0
Principal payments received on real estate-related securities	20,000	355,000	2,571,000	0	0
Net proceeds from sale of real estate-related securities	27,624,000	0	37,593,000	0	0
Net proceeds from disposition of real estate assets and condominium developments	304,370,000	157,198,000	263,797,000	1,399,953,000	64,180,000
Net proceeds from sale of broadly syndicated loans	36,518,000	19,842,000	39,902,000	0	0
Payment of property escrow deposits	0	(250,000)	(875,000)	(350,000)	(1,100,000)
Refund of property escrow deposits	0	250,000	875,000	350,000	1,100,000
Proceeds from the settlement of insurance claims	58,000	0	400,000	110,000	240,000
Net cash used in investing activities	(247,855,000)	(188,124,000)	(466,140,000)	1,175,295,000	(43,892,000)
Cash flows from financing activities:
Redemptions of common stock	0	(38,705,000)	(48,066,000)	(84,088,000)	(93,830,000)
Distributions to stockholders	(59,166,000)	(44,150,000)	(90,655,000)	(112,083,000)	(102,822,000)
Proceeds from credit facilities and repurchase facilities	590,182,000	320,992,000	576,880,000	424,500,000	268,000,000
Repayments of credit facilities and notes payable	(298,021,000)	(218,814,000)	(417,902,000)	(1,137,022,000)	(227,181,000)
Payment of loan deposits	(650,000)	0	(65,000)	0	0
Refund of loan deposits	65,000	0
Deferred financing costs paid	(4,093,000)	(844,000)	(5,360,000)	(1,211,000)	0
Distributions to noncontrolling interest			0	(285,000)	(279,000)
Net cash provided by financing activities	228,317,000	18,479,000	14,832,000	(910,189,000)	(156,112,000)
Net increase (decrease) in cash and cash equivalents and restricted cash	45,809,000	(132,416,000)	(344,947,000)	453,681,000	5,831,000
Cash and cash equivalents and restricted cash, beginning of period	128,408,000	473,355,000	473,355,000	19,674,000	13,843,000
Cash and cash equivalents and restricted cash, end of period	174,217,000	340,939,000	128,408,000	473,355,000	19,674,000
Reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	141,299,000	336,142,000	121,385,000	466,024,000	10,533,000
Restricted cash	32,918,000	4,797,000	7,023,000	7,331,000	9,141,000
Total cash and cash equivalents and restricted cash	$ 174,217,000	$ 340,939,000	$ 128,408,000	$ 473,355,000	$ 19,674,000

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	NOTE 1 — ORGANIZATION AND BUSINESS CIM Real Estate Finance Trust, Inc. (the “Company”) is a non-exchange month-to-month A majority of the Company’s business is conducted through CIM Real Estate Finance Operating Partnership, LP, a Delaware limited partnership, 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 Real Estate Finance Management, LLC, a Delaware limited liability company (“CMFT 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 CMFT Management, the Company’s manager, 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 Income NAV, Inc. (“CIM Income NAV”). The Company relies upon CIM Capital IC Management, LLC, the Company’s investment advisor (the “Investment Advisor”) to provide substantially all of the Company’s day-to-day On January 26, 2012, the Company commenced its initial public offering on a “best efforts” basis of up to a maximum of $2.975 billion in shares of common stock (the “Offering”). The Company ceased issuing shares in the Offering on April 4, 2014. At the completion of the Offering, a total of approximately 297.4 million shares of common stock had been issued, including approximately 292.3 million shares of common stock sold to the public pursuant to the primary portion of the Offering and approximately 5.1 million shares of common stock issued pursuant to the distribution reinvestment plan (“DRIP”) portion of the Offering. The remaining approximately 404,000 unsold shares from the Offering were deregistered. The Company registered $247.0 million of shares of common stock under the DRIP (the “Initial DRIP Offering”) pursuant to a Registration Statement on Form S-3 No. 333-192958), $241.7 million of shares of common stock had been issued. The remaining $5.3 million of unsold shares from the Initial DRIP Offering were deregistered. The Company registered an additional $600.0 million of shares of common stock under the DRIP (the “Secondary DRIP Offering,” and together with the Initial DRIP Offering, the “DRIP Offerings,” and the DRIP Offerings collectively with the Offering, the “Offerings”) pursuant to a Registration Statement on Form S-3 No. 333-212832), The Board establishes an updated estimated per share net asset value (“NAV”) of the Company’s common stock on at least an annual basis for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account reporting obligations under Financial Industry Regulatory Authority Rule 2231. Distributions are reinvested in shares of the Company’s common stock under the DRIP at the estimated per share NAV as determined by the Board. Additionally, the estimated per share NAV as determined by the Board serves as the per share NAV for purposes of the share redemption program. As of June 30, 2021, the estimated per share NAV of the Company’s common stock was $7.20, which was established by the Board on May 25, 2021 using a valuation date of March 31, 2021. Commencing on May 26, 2021, $7.20 served as the per share NAV under the DRIP. The Board previously established a per share NAV as of August 31, 2015, September 30, 2016, December 31, 2016, December 31, 2017, December 31, 2018, December 31, 2019, March 31, 2020 and June 30, 2020. The Company’s estimated per share NAVs are not audited or reviewed by its independent registered public accounting firm.	NOTE 1 — ORGANIZATION AND BUSINESS CIM Real Estate Finance Trust, Inc. (the “Company”) is a non-exchange month-to-month estate-related A majority of the Company’s business is conducted through CIM Real Estate Finance Operating Partnership, LP, a Delaware limited partnership, 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 Real Estate Finance Management, LLC, a Delaware limited liability company (“CMFT 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 CMFT Management, the Company’s manager, 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 Income NAV, Inc. (“CIM Income NAV”). The Company relies upon CIM Capital IC Management, LLC, our investment advisor with respect to investments in securities, to provide substantially all of our day-to-day On January 26, 2012, the Company commenced its initial public offering on a “best efforts” basis of up to a maximum of $2.975 billion in shares of common stock (the “Offering”). The Company ceased issuing shares in the Offering on April 4, 2014. At the completion of the Offering, a total of approximately 297.4 million shares of common stock had been issued, including approximately 292.3 million shares of common stock sold to the public pursuant to the primary portion of the Offering and approximately 5.1 million shares of common stock issued pursuant to the distribution reinvestment plan (“DRIP”) portion of the Offering. The remaining approximately 404,000 unsold shares from the Offering were deregistered. The Company registered $247.0 million of shares of common stock under the DRIP (the “Initial DRIP Offering”) pursuant to a Registration Statement on Form S-3 (Registration No. 333-192958), The Company registered an additional $600.0 million of shares of common stock under the DRIP (the “Secondary DRIP Offering,” and together with the Initial DRIP Offering, the “DRIP Offerings,” and the DRIP Offerings collectively with the Offering, the “Offerings”) pursuant to a Registration Statement on Form S-3 No. 333-212832), The Board establishes an updated estimated per share net asset value (“NAV”) of the Company’s common stock on at least an annual basis for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account reporting obligations under Financial Industry Regulatory Authority Rule 2231. Distributions are reinvested in shares of the Company’s common stock under the DRIP at the estimated per share NAV as determined by the Board. Additionally, the estimated per share NAV as determined by the Board serves as the per share NAV for purposes of the share redemption program. As of December 31, 2020, the estimated per share NAV of the Company’s common stock was $7.31, which was established by the Board on August 11, 2020 using a valuation date of June 30, 2020. Commencing on August 14, 2020, $7.31 served as the per share NAV under the DRIP. The Board previously established a per share NAV as of August 31, 2015, September 30, 2016, December 31, 2016, December 31, 2017, December 31, 2018, December 31, 2019 and March 31, 2020. The Company’s estimated per share NAVs are not audited or reviewed by its independent registered public accounting firm. Completed Mergers On December 21, 2020, the Company completed the mergers previously disclosed in the Current Report on Form 8-K At the effective time of the Mergers and subject to the terms and conditions of the Merger Agreements, each issued and outstanding share of common stock of CCIT III and CCPT V was converted into the right to receive 1.098 and 2.892 shares of the Company’s common stock, $0.01 par value per share, respectively, subject to the treatment of fractional shares in accordance with the Merger Agreements (the “Merger Consideration”). At the effective time of the Mergers and subject to the terms and conditions of the Merger Agreements, each issued and outstanding share of common stock granted under CCIT III’s and CCPT V’s respective 2018 Equity Incentive Plans, whether vested or unvested, was cancelled in exchange for an amount equal to the applicable Merger Consideration. Concurrently with the entry into the Merger Agreements, (i) CCIT III and its advisor entered into a Termination Agreement (the “CCIT III Termination Agreement”) pursuant to which the Advisory Agreement, dated September 22, 2016, by and between CCIT III and its advisor terminated at the effective time of the CCIT III Merger, and (ii) CCPT V and its advisor entered into a Termination Agreement (the “CCPT V Termination Agreement” and, together with the CCIT III Termination Agreement, the “Termination Agreements”) pursuant to which the Advisory Agreement, dated March 17, 2014, by and between CCPT V and its advisor terminated at the effective time of the CCPT V Merger. Pursuant to the Termination Agreements, each of CCIT III’s advisor and CCPT V’s advisor agreed to waive any subordinated performance fee or disposition fee it otherwise would have been entitled to pursuant to the applicable advisory agreement related to the CCIT III Merger or CCPT V Merger, as applicable. In order to manage the financial health of the Company, the Board approved and adopted a Second Amended and Restated Distribution Reinvestment Plan (the “Amended DRIP”) and an amended and restated share redemption program (the “Amended Share Redemption Program”) that, among other changes, provides that the Amended DRIP and the Amended Share Redemption Program may be suspended at any time by majority vote of the Board without prior notice if the Board believes such action is in the best interest of the Company and its stockholders. In connection with the entry of the Company into the Merger Agreements, on August 30, 2020, the Board approved the suspension of the Amended DRIP, and therefore, distributions paid after that date were paid in cash to all stockholders until the Amended DRIP was reinstated, effective April 1, 2021, by the Board on March 25, 2021. Additionally, on August 30, 2020, the Board approved the suspension of the Company’s Amended Share Redemption Program, and therefore, no shares were redeemed from the Company’s stockholders after that date until the Amended Share Redemption Program was reinstated, effective April 1, 2021, by the Board on March 25, 2021. Terminated Merger Agreement On August 30, 2020, the Company, Cole Office & Industrial REIT (CCIT II), Inc. (“CCIT II”) and Thor II Merger Sub, LLC, a wholly owned subsidiary of the Company (“CCIT II Merger Sub”), entered into an Agreement and Plan of Merger (the “CCIT II Merger Agreement”). Subject to the terms and conditions of the CCIT II Merger Agreement, CCIT II would have merged with and into CCIT II Merger Sub (the “CCIT II Merger”), with CCIT II Merger Sub surviving the CCIT II Merger, such that following the CCIT II Merger, the surviving entity would continue as a wholly owned subsidiary of the Company. On October 29, 2020, CCIT II terminated the CCIT II Merger Agreement pursuant to Sections 9.1(c)(ii) and 9.2 of the CCIT II Merger Agreement and entered into an agreement (the “Termination Notice”) with the Company reflecting such termination and pursuant to which, among other things, CCIT II paid the termination fee equal to $7.38 million to the Company in accordance with the CCIT II Merger Agreement, and agreed to pay to the Company the amount of its expenses up to $3.69 million, required to be paid pursuant to the terms of the CCIT II Merger Agreement (such amounts together, the “CCIT II Termination Payment”). During the year ended December 31, 2020, the Company incurred $2.0 million in CCIT II merger-related

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s condensed consolidated financial statements. 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 condensed consolidated financial statements. Principles of Consolidation and Basis of Presentation The condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the SEC regarding interim financial reporting, including the instructions to Form 10-Q S-X, 10-Q 10-K 10-Q. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain amounts in the Company’s prior period condensed consolidated financial statements have been reclassified to conform to the current period presentation. This reclassification had no effect on previously reported totals or subtotals. The reclassifications have been made to the condensed consolidated statements of operations for the three and six months ended June 30, 2020 as follows (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As previously Reclassification As Revised As previously Reclassification As Revised Condensed Consolidated Statements of Operations General and administrative $ 4,235 $ (1,215 ) $ 3,020 $ 7,917 $ (2,015 ) $ 5,902 Management fees $ 11,398 $ (1,648 ) $ 9,750 $ 22,488 $ (2,888 ) $ 19,600 Transaction-related $ 330 $ (205 ) $ 125 $ 582 $ (332 ) $ 250 Expense reimbursements to related parties $ — $ 3,057 $ 3,057 $ — $ 5,235 $ 5,235 Interest expense and other, net $ 15,509 $ 11 $ 15,520 $ 31,276 $ — $ 31,276 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 condensed 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- 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 six months ended June 30, 2021, as part of the Company’s quarterly impairment review procedures, the Company recorded impairment charges of $4.4 million related to five properties, of which impairment at three properties was due to sales prices that were less than their respective carrying values and impairment at two properties was due to vacancy. The Company’s impairment assessment as of June 30, 2021 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 six months ended June 30, 2020, the Company recorded impairment charges of $15.5 million related to nine properties due to revised cash flow estimates as a result of market conditions and one property due to a tenant bankruptcy. The assumptions and uncertainties utilized in the evaluation of the impairment of real estate assets are discussed in detail in Note 3 — Fair Value Measurements. See also Note 4 — Real Estate Assets for further discussion regarding real estate investment activity. 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 June 30, 2021, the Company identified two properties with a fair value of $6.1 million as held for sale, which were sold subsequent to June 30, 2021 at a gain of $779,000. As of December 31, 2020, the Company identified one property with a fair value of $3.5 million as held for sale, which was sold during the six months ended June 30, 2021. No gain or loss was recognized on this disposition. 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 dispositions during the six months ended June 30, 2021 and 2020 did not qualify for discontinued operations presentation and thus, the results of the properties and condominiums that were sold will remain in operating income, and any associated gains or losses from the disposition are included in gain on disposition of real estate and condominium developments, net. See Note 4 — Real Estate Assets for a discussion of the disposition of individual properties and condominiums during the six months ended June 30, 2021. 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 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 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. Certain acquisition-related expenses related to asset acquisitions are capitalized and allocated to tangible and intangible assets and liabilities, as described above. Acquisition-related manager expense reimbursements are expensed as incurred and are included in expense reimbursements to related parties in the accompanying condensed consolidated statements of operations. Other acquisition-related expenses continue to be expensed as incurred and are included in transaction-related Restricted Cash The Company had $32.9 million and $7.0 million in restricted cash as of June 30, 2021 and December 31, 2020, respectively. Included in restricted cash was $4.1 million and $3.6 million held by lenders in lockbox accounts, as of June 30, 2021 and December 31, 2020, respectively. As part of certain debt agreements, rents from certain encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess is disbursed to the Company. Also included in restricted cash was $28.8 million and $3.4 million of construction reserves, amounts held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the associated lender’s loan agreement, as of June 30, 2021 and December 31, 2020, respectively. Real Estate-Related Securities Real estate-related securities consists primarily of the Company’s investment in commercial mortgage-backed securities (“CMBS”). The Company determines the appropriate classification for real estate-related securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of June 30, 2021, the Company classified its investments as available-for-sale The Company monitors its available-for-sale securities for changes in fair value. An allowance for credit losses is recorded when the Company acquires CMBS, and any subsequent impairment 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 the 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 real estate-related 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 condensed consolidated statements of operations in interest income. Upon the sale of a security, the realized net gain or loss is computed on the specific identification method. Interest earned is either received in cash or capitalized to real estate-related securities in the Company’s condensed consolidated balance sheets. Interest is capitalized when certain conditions are met as specified in each security agreement. During the three and six months ended June 30, 2021, the Company capitalized $435,000 of interest income to real estate-related Loans Held-for-Investment The Company has acquired, and may continue to acquire, loans related to real estate assets. Additionally, the Company may acquire and originate credit investments, including commercial mortgage loans, mezzanine loans, preferred equity, and other loans and securities related to commercial real estate assets, as well as corporate loan opportunities that are consistent with the Company’s investment strategy and objectives. The Company intends to hold the loans held-for- held-for-investment Interest earned is either received in cash or capitalized to loans held-for-investment Accrual of interest income is suspended on nonaccrual loans. Loans that are past due 90 days or more as to principal or interest, or where reasonable doubt exists as to timely collection, are generally considered nonperforming and placed on nonaccrual status. Interest collected is recognized on a cash basis by crediting income when received. Loans may be restored to accrual status when all principal and interest are current and full repayment of the remaining contractual principal and interest are reasonably assured. As of June 30, 2021, the Company did not have nonaccrual loans. Allowance for Credit Losses The Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326) 2016-13”), 2016-13 held-for-investment 2016-13 2016-13 The Company has elected to use a discounted cash flow model to estimate the allowance for credit losses. This model requires the Company to develop cash flows which project estimated credit losses over the life of the loan and discount these cash flows at the asset’s effective interest rate. The Company then records an allowance for credit losses equal to the difference between the amortized cost basis of the asset and the present value of the expected cash flows. The Company considers loan investments that are both (i) expected to be substantially repaid through the operation or sale of the underlying collateral, and (ii) for which the borrower is experiencing financial difficulty, to be “collateral-dependent” loans. For such loans that the Company determines that foreclosure of the collateral is probable, the Company measures the expected losses based on the difference between the fair value of the collateral less costs to sell and the amortized cost basis of the loan as of the measurement date. For collateral-dependent loans that the Company determines foreclosure is not probable, the Company applies a practical expedient to estimate expected losses using the difference between the collateral’s fair value (less costs to sell the asset if repayment is expected through the sale of the collateral) and the amortized cost basis of the loan. For the Company’s broadly syndicated loans, the Company uses a probability of default and loss given default method using an underlying third-party CMBS/Commercial Real Estate (“CRE”) loan database with historical loan losses from 1998 to 2019. The Company may use other acceptable alternative approaches in the future depending on, among other factors, the type of loan, underlying collateral, and availability of relevant historical market loan loss data. The Company adopted ASU 2016-13 Quarterly, the Company evaluates the risk of all loans and assigns a risk rating based on a variety of factors, grouped as follows: (i) loan and credit structure, including the as-is loan-to-value Based on a 5-point 1- Outperform — Most satisfactory asset quality and liquidity, good leverage capacity. A “1” rating maintains predictable and strong cash flows from operations. The trends and outlook for the credit’s operations, balance sheet, and industry are neutral to favorable. Collateral, if appropriate, exceeds performance metrics; 2- Meets or Exceeds Expectations — Acceptable asset quality, moderate excess liquidity, modest leverage capacity. A “2” rating could have some financial/non-financial weaknesses which are offset by strengths; however, the credit demonstrates an ample current cash flow from operations. The trends and outlook for the credit’s operations, balance sheet, and industry are generally positive or neutral. Collateral performance, if appropriate, meets or exceeds substantially all performance metrics included in original or current underwriting / business plan; 3- Satisfactory — Acceptable asset quality, somewhat strained liquidity, minimal leverage capacity. A “3” rating is at times characterized by acceptable cash flows from operations. The trends and conditions of the credit’s operations and balance sheet are neutral. Collateral performance, if appropriate, meets or is on track to meet underwriting; business plan can reasonably be achieved; 4- Underperformance — The debt investment possesses credit deficiencies or potential weaknesses which deserve management’s close and continued attention. The portfolio company’s operations and/or balance sheet have demonstrated an adverse trend or deterioration which, while serious, has not reached the point where the liquidation of debt is jeopardized. These weaknesses are generally considered correctable by the borrower in the normal course of business but may weaken the asset or inadequately protect the Company’s credit position if not checked or corrected. Collateral performance, if appropriate, falls short of original underwriting, material differences exist from business plan, or both; technical milestones have been missed; defaults may exist, or may soon occur absent material improvement; and 5- Default/Possibility of Loss — The debt investment is protected inadequately by the current enterprise value or paying capacity of the obligor or of the collateral, if any. The underlying company’s operations have well-defined weaknesses based upon objective evidence, such as recurring or significant decreases in revenues and cash flows. Major variance from business plan; loan covenants or technical milestones have been breached; timely exit from loan via sale or refinancing is questionable; risk of principal loss. Collateral performance, if appropriate, is significantly worse than underwriting. The Company generally assigns a risk rating of “3” to all newly originated or acquired loans held-for-investment Leases The Company has lease agreements with lease and non-lease non-lease Non-lease 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. The Company has an investment in a real estate property that is subject to a ground lease, for which a lease liability and right of use (“ROU”) asset of $2.4 million was recorded as of both June 30, 2021 and December 31, 2020. See Note 15 — Leases for a further discussion regarding this ground lease. 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. Development Activities Project costs and expenses, including interest incurred, associated with the development, construction and lease-up Revenue Recognition Revenue from leasing activities 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 condensed 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 During the six months ended June 30, 2021, 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 $591,000 for the six months ended June 30, 2021, which included $525,000 of straight-line rental income. These write-offs reduced rental and other property income during the six months ended June 30, 2021. Revenue from lending activities Interest income from the Company’s loans held-for-investment Reportable Segments During the year ended December 31, 2020, the Company updated its reportable segment information to reflect how the chief operating decision makers regularly review and manage the business and determined that it has two reportable segments: Credit Real estate See Note 16 — Segment Reporting for a further discussion regarding these segments. 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 condensed 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 current novel coronavirus (“COVID-19”) COVID-19 No. 2016-02, Leases (Topic 842) COVID-19 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 COVID-19 As of August 9, 2021, the Company has collected approximately 99% of rental payments billed to tenants during the three months ended June 30, 2021, and as of August 9, 2021, the Company collected $4.1 million of deferred rent, representing approximately 99% of amounts due through June 30, 2021. In January 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2021-01, Reference Rate Reform (Topic 848) 2021-01”). 2021-01 2021-01 2021-01.	NOTE 2 — 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 and its wholly-owned subsidiaries. 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, 2018, the Company determined that it had a controlling interest in nine properties owned through a consolidated joint venture arrangement (the “Consolidated Joint Venture”) and therefore met the GAAP requirements for consolidation. During the year ended December 31, 2019, the Company disposed of the nine properties previously owned through the Consolidated Joint Venture and therefore determined it no longer had a controlling financial interest in the Consolidated Joint Venture as of December 31, 2019. See Note 4 — Real Estate Assets for a further discussion of this disposition. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported totals or subtotals. The Company is separately presenting the write-offs for uncollectible lease-related receivables of $952,000 and $522,000 for the years ended December 31, 2019 and 2018, respectively, which were previously included in straight-line The Company combined investment in real estate assets of $6.2 million and capital expenditures of $17.7 million for the year ended December 31, 2019, and investment in real estate assets of $11.9 million and capital expenditures of $7.3 million for the year ended December 31, 2018 into a single financial statement line item, investment in real estate assets and capital expenditures, in the consolidated statements of cash flows. 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 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, 2019, the Company identified 29 properties with a fair value of $351.9 million as held for sale, and expected to sell a substantial portion of its anchored-shopping center portfolio and certain single-tenant properties within the next 24 months, subject to market conditions. As the Company could not provide assurance that these properties would be sold within a 24-month 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 were sold will remain in operating income, and any associated gains or losses from the disposition are included in gain on disposition of real estate, net. See Note 4 — Real Estate Assets to the consolidated financial statements in the Company’s Annual Report on Form 10-K 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 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 in-place below-market 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 in-place in- in-place The Company has acquired, and may continue to 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 escrowed funds to the Company or the seller or a combination thereof. 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 are initially 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 is 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. Acquisition-related fees and certain acquisition-related expenses related to asset acquisitions are capitalized and allocated to tangible and intangible assets and liabilities, as described above. Other acquisition-related expenses, such as manager reimbursements, continue to be expensed as incurred and are included in transaction-related Redeemable Noncontrolling Interest in Consolidated Joint Venture From June 2014 to December 2019, the Company determined it had a controlling interest in the Consolidated Joint Venture and, therefore, met the GAAP requirements for consolidation. The Company recorded net income of $121,000 and paid distributions of $285,000 related to the noncontrolling interest during the year ended December 31, 2019. During the year ended December 31, 2019, the Company disposed of its interest in the underlying properties previously owned through the Consolidated Joint Venture, as further discussed in Note 4 — Real Estate Assets. Therefore, the Company determined it no longer had a controlling financial interest as of December 31, 2019. 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. Included in cash and cash equivalents was $41.0 million and $126.8 million of unsettled broadly syndicated loan purchases as of December 31, 2020 and 2019, respectively. The Company had $7.0 million and $7.3 million in restricted cash as of December 31, 2020 and December 31, 2019, respectively. Included in restricted cash was $3.6 million and $3.1 million held by lenders in lockbox accounts, as of December 31, 2020 and 2019, respectively. As part of certain debt agreements, rents from certain encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess is disbursed to the Company. Also included in restricted cash was $3.4 million and $4.2 million held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the associated lender’s loan agreement as of December 31, 2020 and 2019, respectively. Real Estate-Related Securities Real estate-related securities consists primarily of the Company’s investment in commercial mortgage-backed available-for-sale The Company monitors its available-for-sale The amortized cost of real estate-related 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. Loans Held-for-Investment The Company has acquired, and may continue to acquire, loans related to real estate assets. Additionally, the Company may acquire and originate credit investments, including commercial mortgage loans, mezzanine loans, preferred equity, and other loans and securities related to commercial real estate assets, as well as corporate loan opportunities that are consistent with the Company’s investment strategy and objectives. The Company intends to hold the loans held-for-investment held-for-investment Interest earned is either received in cash or capitalized to loans held-for-investment held-for-investment Accrual of interest income is suspended on nonaccrual loans. Loans that are past due 90 days or more as to principal or interest, or where reasonable doubt exists as to timely collection, are generally considered nonperforming and placed on nonaccrual status. Interest collected is recognized on a cash basis by crediting income when received. Loans may be restored to accrual status when all principal and interest are current and full repayment of the remaining contractual principal and interest are reasonably assured. As of December 31, 2020, the Company’s eight mezzanine loans with a net book value of $89.4 million were nonaccrual loans. During the year ended December 31, 2020, the Company recorded $565,000 in interest income related to the nonaccrual loans. Subsequent to December 31, 2020, the Company completed foreclosure proceedings to take control of the assets securing the mezzanine loans. Allowance for Credit Losses The Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326) 2016-13”), 2016-13 held-for-investment 2016-13 2016-13 The Company has elected to use a discounted cash flow model to estimate the allowance for credit losses. This model requires the Company to develop cash flows which project estimated credit losses over the life of the loan and discount these cash flows at the asset’s effective interest rate. The Company then records an allowance for credit losses equal to the difference between the amortized cost basis of the asset and the present value of the expected cash flows. The Company considers loan investments that are both (i) expected to be substantially repaid through the operation or sale of the underlying collateral, and (ii) for which the borrower is experiencing financial difficulty, to be “collateral-dependent” loans. For such loans that the Company determines that foreclosure of the collateral is probable, the Company measures the expected losses based on the difference between the fair value of the collateral less costs to sell and the amortized cost basis of the loan as of the measurement date. For collateral-dependent loans that the Company determines foreclosure is not probable, the Company applies a practical expedient to estimate expected losses using the difference between the collateral’s fair value (less costs to sell the asset if repayment is expected through the sale of the collateral) and the amortized cost basis of the loan. For the Company’s broadly syndicated loans, the Company uses a probability of default and loss given default method using an underlying third-party CMBS/Commercial Real Estate (“CRE”) loan database with historical loan losses from 1998 to 2019. The Company may use other acceptable alternative approaches in the future depending on, among other factors, the type of loan, underlying collateral, and availability of relevant historical market loan loss data. The Company adopted ASU 2016-13 cumulative-effective Quarterly, the Company evaluates the risk of all loans and assigns a risk rating based on a variety of factors, grouped as follows: (i) loan and credit structure, including the as-is loan-to-value 5-point 1- Outperform — Most satisfactory asset quality and liquidity, good leverage capacity. A “1” rating maintains predictable and strong cash flows from operations. The trends and outlook for the credit’s operations, balance sheet, and industry are neutral to favorable. Collateral, if appropriate, exceeds performance metrics; 2- Meets or Exceeds Expectations — Acceptable asset quality, moderate excess liquidity, modest leverage capacity. A “2” rating could have some financial/non-financial 3- Satisfactory — Acceptable asset quality, somewhat strained liquidity, minimal leverage capacity. A “3” rating is at times characterized by acceptable cash flows from operations. The trends and conditions of the credit’s operations and balance sheet are neutral. Collateral performance, if appropriate, meets or is on track to meet underwriting; business plan can reasonably be achieved; 4- Underperformance — The debt investment possesses credit deficiencies or potential weaknesses which deserve management’s close and continued attention. The portfolio company’s operations and/or balance sheet have demonstrated an adverse trend or deterioration which, while serious, has not reached the point where the liquidation of debt is jeopardized. These weaknesses are generally considered correctable by the borrower in the normal course of business but may weaken the asset or inadequately protect the Company’s credit position if not checked or corrected. Collateral performance, if appropriate, falls short of original underwriting, material differences exist from business plan, or both; technical milestones have been missed; defaults may exist, or may soon occur absent material improvement; and 5- Default/Possibility of Loss — The debt investment is protected inadequately by the current enterprise value or paying capacity of the obligor or of the collateral, if any. The underlying company’s operations has well-defined weaknesses based upon objective evidence, such as recurring or significant decreases in revenues and cash flows. Major variance from business plan; loan covenants or technical milestones have been breached; timely exit from loan via sale or refinancing is questionable; risk of principal loss. Collateral performance, if appropriate, is significantly worse than underwriting. The Company generally assigns a risk rating of “3” to all newly originated or acquired loans-held-for-investment 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 before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facilities, 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 costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facilities and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2020 and 2019, the Company had $4.3 million and $2.3 million, respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facilities. 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. Due to Affiliates CMFT Management, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offerings and the acquisition, management, financing and leasing of the properties of the Company. 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 income. 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. Redeemable Common Stock Under the Company’s Amended Share Redemption Program, the Company’s obligation to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the Amended DRIP, net of shares redeemed to date. The Company records the maximum amount that is redeemable under the Amended Share Redemption Program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value. As of December 31, 2020, there was no redeemable common stock, as the Board approved the suspension of the share redemption program on August 30, 2020 in connection with our entry into the Merger Agreements. Leases The Company has lease agreements with lease and non-lease non-lease Non-lease 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. The Company has an investment in a real estate property that is subject to a ground lease, for which a lease liability and right of use (“ROU”) asset of $2.4 million was recorded as of December 31, 2020. See Note 16 — Leases for a further discussion regarding this ground lease. 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 Revenue from leasing activities 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 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 $5.6 million for the year ended December 31, 2020, which included $206,000 of straight-line rental income and $1.0 million related to certain tenant reimbursements that were written off during the year ended December 31, 2020. These write-offs Revenue from lending activities Interest income from the Company’s loans held-for-investment Income Taxes The Company elected to be taxed, and currently qualifies, as a REIT for federal income tax purposes under Sections 856 through 860 of the Code, commencing with the taxable year ended December 31, 2012. The Company will generally not be 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 or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. Earnings (Loss) and Distributions Per Share Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share 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 daily distribution rate. Reportable Segments During the year ended December 31, 2020, the Company realigned the business and reportable segment information to reflect how the chief operating decision makers regularly review and manage the business and determined that it has two reportable segments: Credit Real estate See Note 17 — Segment Reporting for a further discussion regarding these segments. 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, No. 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses 2018-19”), No. 2019-04, 2019-05, No. 2019-10, No. 2019-11 No. 2020-02 2016-13 held-to-maturity 2016-13 2016-13 2018-19 No. 2016-02, Leases (Topic 842) . 2016-13 2018-19 2016-13 Held-For-Investment 2016-13. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”). 2018-13 average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 2018-13 2018-13 In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities 2018-17”). 2018-17 2018-17 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 COVID-19 COVID-19 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 COVID-19 lease-related 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 ranging from 12 months to 84 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 $3.7 million and deferred rental income of $1.3 million. As of March 24, 2021, the Company has collected approximately 98% 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) 2021-01”). 2021-01 2021-01.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3 — 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: Real estate-related securities Credit facilities and notes payable Derivative instruments 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 June 30, 2021 and December 31, 2020, 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. Loans held-for-investment held-for-investment held-for-investment held-for-investment held-for-investment held-for-investment Other 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 June 30, 2021 and December 31, 2020, 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 June 30, 2021 and December 31, 2020 (in thousands): Balance as of Quoted Prices in Active Identical Assets Significant Other Inputs (Level 2) Significant Inputs Financial assets: CMBS $ 42,071 $ — $ — $ 42,071 Interest rate caps — — — — Total financial assets $ 42,071 $ — $ — $ 42,071 Financial liabilities: Interest rate swaps $ (6,289 ) $ — $ (6,289 ) $ — Total financial liabilities $ (6,289 ) $ — $ (6,289 ) $ — Balance as of Quoted Prices in Active Identical Assets Significant Other Inputs (Level 2) Significant Inputs Financial assets: CMBS $ 38,194 $ — $ 27,461 $ 10,733 Total financial assets $ 38,194 $ — $ 27,461 $ 10,733 Financial liabilities: Interest rate swaps $ (12,308 ) $ — $ (12,308 ) $ — Total financial liabilities $ (12,308 ) $ — $ (12,308 ) $ — The following are reconciliations of the changes in financial assets with Level 3 inputs in the fair value hierarchy for the six months ended June 30, 2021 (in thousands): CMBS Beginning Balance, January 1, 2021 $ 10,733 Total gains and losses: Unrealized loss included in other comprehensive income (loss), net 1,804 Purchases and payments received: Purchases 34,491 Discounts, net (5,372 ) Capitalized interest income 435 Principal payments received (20 ) Ending Balance, June 30, 2021 $ 42,071 Items Measured at Fair Value on a Non-Recurring 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 six months ended June 30, 2021, real estate assets related to five properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $31.2 million, resulting in impairment charges of $4.4 million. During the six months ended June 30, 2020, real estate assets related to 10 properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $70.2 million, resulting in impairment charges of $15.5 million. The Company estimates fair values using Level 3 inputs and 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, 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 six months ended June 30, 2021: Six Months Ended June 30, 2021 Discount Rate Terminal Capitalization Rate 7.9% — 9.7% 7.4% — 9.2% The following table presents the impairment charges by asset class recorded during the six months ended June 30, 2021 and 2020 (in thousands): Six Months Ended June 30, 2021 2020 Asset class impaired: Land $ 781 $ 3,541 Buildings, fixtures and improvements 3,496 11,315 Intangible lease assets 230 696 Intangible lease liabilities (130 ) (45 ) Total impairment loss $ 4,377 $ 15,507	NOTE 3 — 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: Real estate-related securities performance such as prepayment speeds and default rates, as available. Depending upon the significance of the fair value inputs used in determining these fair values, these securities are valued using either Level 2 or Level 3 inputs. As of December 31, 2020, the Company concluded that $27.5 million of real estate-related securities fell under Level 2 and $10.7 million of real estate-related securities fell under Level 3. Credit facilities and notes payable Derivative instruments 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. Loans held-for-investment held-for-investment held-for-investment held-for-investment held-for-investment held-for-investment Other 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 Significant Other Significant Financial assets: CMBS $ 38,194 $ — $ 27,461 $ 10,733 Total financial assets $ 38,194 $ — $ 27,461 $ 10,733 Financial liabilities: Interest rate swaps $ (12,308 ) $ — $ (12,308 ) $ — Total financial liabilities $ (12,308 ) $ — $ (12,308 ) $ — Balance as of Quoted Prices in Significant Other Significant Financial assets: Interest rate swaps $ 261 $ — $ 261 $ — Total financial assets $ 261 $ — $ 261 $ — Financial liability: Interest rate swap $ (4,181 ) $ — $ (4,181 ) $ — Total financial liability $ (4,181 ) $ — $ (4,181 ) $ — The following are reconciliations of the changes in financial assets with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2020 (in thousands): CMBS Beginning Balance, January 1, 2020 $ — Total gains and losses: Unrealized gain included in other comprehensive income, net 747 Purchases and payments received: Purchases 26,883 Premiums (discounts), net (16,875 ) Principal payments received (22 ) Ending Balance, December 31, 2020 $ 10,733 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 12 properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $86.4 million, resulting in impairment charges of $16.7 million. During the year ended December 31, 2019, real estate assets related to 34 properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $384.4 million, resulting in impairment charges of $72.9 million. During the year ended December 31, 2018, real estate assets related to 22 properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $332.4 million, resulting in impairment charges of $33.0 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 7.9%–9.7% 7.4%–9.2% 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 $ 3,738 $ 12,648 $ 6,436 Buildings, fixtures and improvements 12,310 56,572 25,299 Intangible lease assets 737 4,056 1,385 Intangible lease liabilities (48 ) (337 ) (145 ) Total impairment loss $ 16,737 $ 72,939 $ 32,975

REAL ESTATE ASSETS

REAL ESTATE ASSETS	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Real Estate [Abstract]
REAL ESTATE ASSETS	NOTE 4 — REAL ESTATE ASSETS 2021 Property Acquisitions During the six months ended June 30, 2021, the Company did not acquire any properties. Assets Acquired Via Foreclosure On January 7, 2021, the Company completed foreclosure proceedings to take control of the assets which previously secured its eight mezzanine loans, including 75 condominium units and 21 rental units across four buildings. No land was acquired in connection with the foreclosure. The following table summarizes the purchase price allocation for the real estate acquired via foreclosure (in thousands): As of June 30, 2021 Buildings, fixtures and improvements $ 192,182 Acquired in-place 134 Intangible lease liabilities (326 ) Total purchase price $ 191,990 In connection with the foreclosure, the Company assumed $102.6 million of mortgage notes payable related to the assets, as further discussed in Note 9 — Credit Facilities, Notes Payable and Repurchase Facilities. 2021 Condominium Development Project During the six months ended June 30, 2021, the Company capitalized $4.5 million of expenses as construction in progress associated with the development of condominiums acquired via foreclosure, which is included in condominium developments in the accompanying condensed consolidated balance sheets. 2021 Condominium Dispositions During the six months ended June 30, 2021, the Company disposed of condominium units for an aggregate sales price of $8.8 million, resulting in proceeds of $8.5 million after closing costs and a gain of $1.5 million. The Company has no continuing involvement with these condominium units. The gain on sale of condominium units is included in gain on disposition of real estate and condominium developments, net in the condensed consolidated statements of operations. 2021 Property Dispositions and Real Estate Assets Held for Sale During the six months ended June 30, 2021, the Company disposed of 47 retail properties for an aggregate gross sales price of $304.0 million, resulting in proceeds of $296.0 million after closing costs and a gain of $46.5 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 and condominium developments, net in the condensed consolidated statements of operations. As of June 30, 2021, there were two properties classified as held for sale with a carrying value of $6.1 million included in assets held for sale in the accompanying condensed consolidated balance sheets. Subsequent to June 30, 2021, the Company disposed of these properties, as further discussed in Note 17 — Subsequent Events. 2021 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 of the Company’s accounting policies regarding impairment of real estate assets. During the six months ended June 30, 2021, five properties totaling approximately 165,000 square feet with a carrying value of $35.5 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $31.2 million, resulting in impairment charges of $4.4 million, which were recorded in the condensed consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges. 2020 Property Acquisition During the six months ended June 30, 2020, the Company acquired one commercial property for an aggregate purchase price of $4.7 million (the “2020 Property Acquisition”), which includes $42,000 of external acquisition-related expenses that were capitalized. The Company funded the 2020 Property Acquisition with proceeds from real estate dispositions and available borrowings. The following table summarizes the purchase price allocation for the 2020 Property Acquisition (in thousands): 2020 Property Acquisition Land $ 1,417 Buildings, fixtures and improvements 2,800 Acquired in-place (1) 442 Total purchase price $ 4,659 (1) The amortization period for acquired in-place 2020 Property Dispositions During the six months ended June 30, 2020, the Company disposed of 16 properties, consisting of 10 retail properties and six anchored shopping centers, for an aggregate gross sales price of $160.8 million, resulting in proceeds of $157.2 million after closing costs and disposition fees due to CMFT Management or its affiliates, and a gain of $16.9 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 and condominium developments, net in the condensed consolidated statements of operations. 2020 Impairment During the six months ended June 30, 2020, 10 properties totaling approximately 673,000 square feet with a carrying value of $85.7 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $70.2 million, resulting in impairment charges of $15.5 million, which were recorded in the condensed consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges.	NOTE 4 — REAL ESTATE ASSETS 2020 Property Acquisitions During the year ended December 31, 2020, the Company acquired 150 commercial properties, including 146 properties acquired in connection with the Mergers, for an aggregate purchase price of $798.5 million (the “2020 Property Acquisitions”), which includes $7.9 million of external acquisition-related expenses that were capitalized. The Company funded the 2020 Property Acquisitions acquired in connection with the Mergers with the Merger Consideration, and funded the remaining acquisitions with proceeds from real estate dispositions and available borrowings. The following table summarizes the purchase price allocation for the 2020 Property Acquisitions (in thousands): 2020 Property Acquisitions Land $ 166,395 Buildings, fixtures and improvements 571,777 Acquired in-place leases and other intangibles (1) 74,888 Acquired above-market leases (2) 2,367 Intangible lease liabilities (3) (16,927 ) Total purchase price $ 798,500 (1) The amortization period for acquired in-place leases and other intangibles is 8.9 years. (2) The amortization period for acquired above-market leases is 6.5 years. (3) The amortization period for acquired intangible lease liabilities is 9.7 years. 2020 Property Dispositions and Real Estate Asset Held for Sale During the year ended December 31, 2020, the Company disposed of 30 properties, consisting of 20 retail properties and 10 anchored shopping centers for an aggregate gross sales price of $270.4 million, resulting in net proceeds of $263.8 million after closing costs and disposition fees due to CMFT Management or its affiliates, and a recorded gain of $27.5 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. As of December 31, 2020, there was one property classified as held for sale with a carrying value of $3.5 million included in assets held for sale in the accompanying consolidated balance sheets. Subsequent to December 31, 2020, the Company disposed of the property, as further discussed in Note 19 — Subsequent Events. 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 of the Company’s accounting policies regarding impairment of real estate assets. During the year ended December 31, 2020, 12 properties totaling approximately 824,000 square feet with a carrying value of $103.1 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $86.4 million, resulting in impairment charges of $16.7 million, which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges. 2019 Property Acquisition During the year ended December 31, 2019, the Company acquired a 100% interest in one commercial property for an aggregate purchase price of $6.2 million (the “2019 Property Acquisition”), which includes $165,000 of external acquisition-related expenses that were capitalized. The Company funded the 2019 Property Acquisition with proceeds from real estate dispositions and available borrowings. The following table summarizes the purchase price allocation for the 2019 Property Acquisition (in thousands): 2019 Property Acquisition Land $ 1,501 Buildings, fixtures and improvements 3,804 Acquired in-place leases and other intangibles (1) 860 Total purchase price $ 6,165 (1) The amortization period for acquired in-place leases and other intangibles is 20.1 years. 2019 Property Dispositions and Real Estate Assets Held for Sale On September 3, 2019, certain subsidiaries of the Company entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) with Realty Income Corporation (NYSE: O) (the “Purchaser”), an unaffiliated company, to sell approximately 452 single-tenant properties, including nine properties previously owned through the Consolidated Joint Venture, encompassing approximately 5.1 million gross rentable square feet of commercial space across 41 states. Pursuant to the Purchase and Sale Agreement, the sale of 444 properties closed in December 2019 for total consideration of $1.2 billion, including the assumption by the Purchaser of existing mortgage debt totaling $130.8 million and the repayment of $532.3 million in debt, as further discussed in Note 9 — Credit Facilities, Notes Payable and Repurchase Facilities. The remaining properties closed subsequent to December 31, 2019, for consideration of $26.3 million, as discussed in “2020 Property Dispositions” above. During the year ended December 31, 2019, the Company disposed of a total of 497 properties, consisting of 482 retail properties, one industrial property and 14 anchored shopping centers, excluding a related outparcel of land, for an aggregate gross sales price of $1.65 billion, resulting in net proceeds of $1.40 billion after closing costs and disposition fees due to CMFT Management or its affiliates, and a recorded gain of $180.7 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. As of December 31, 2019, there were 29 properties classified as held for sale with a carrying value of $351.9 million included in assets held for sale in the consolidated balance sheets. As of December 31, 2019, the Company had mortgage notes payable of $126.7 million that are related to the held for sale properties, which the Company expects to repay in connection with the disposition of the underlying held for sale properties. 2019 Impairment During the year ended December 31, 2019, 34 properties totaling approximately 3.4 million square feet with a carrying value of $457.3 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $384.4 million, resulting in impairment charges of $72.9 million, which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges. 2018 Property Acquisition During the year ended December 31, 2018, the Company acquired a 100% interest in one commercial property for an aggregate purchase price of $11.9 million (the “2018 Acquisition”), which includes $277,000 of external acquisition-related expenses that were capitalized. The Company funded the 2018 Acquisition with net cash provided by operations and available borrowings. The following table summarizes the purchase price allocation for the 2018 Acquisition (in thousands): 2018 Acquisition Land $ 2,107 Buildings, fixtures and improvements 9,044 Acquired in-place leases and other intangibles (1) 1,392 Intangible lease liabilities (2) (638 ) Total purchase price $ 11,905 (1) The amortization period for acquired in-place leases and other intangibles is 19.0 years. (2) The amortization period for acquired intangible lease liabilities is 19.0 years. 2018 Property Dispositions During the year ended December 31, 2018, the Company disposed of 21 properties, consisting of 19 retail properties and two anchored shopping centers, excluding a related outparcel of land, for an aggregate gross sales price of $66.6 million, resulting in net proceeds of $49.1 million after closing costs and the repayment of the $15.0 million variable rate debt secured by one of the disposed properties and a gain of $6.3 million. During the year ended December 31, 2018, $478,000 was incurred for disposition fees to CMFT Management or its affiliates in connection with the sale of the properties and 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 Impairment During the year ended December 31, 2018, 22 properties totaling approximately 2.3 million square feet with a carrying value of $365.4 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $332.4 million, resulting in impairment charges of $33.0 million, which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges.

INTANGIBLE LEASE ASSETS AND LIA

INTANGIBLE LEASE ASSETS AND LIABILITIES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS AND LIABILITIES	NOTE 5 — INTANGIBLE LEASE ASSETS AND LIABILITIES Intangible lease assets and liabilities consisted of the following as of June 30, 2021 and December 31, 2020 (in thousands, except weighted average life remaining): June 30, 2021 December 31, 2020 Intangible lease assets: In-place $ 187,922 $ 217,431 Acquired above-market leases, net of accumulated amortization of $22,746 and $22,054, respectively (with a weighted average life remaining of 7.5 years and 7.6 years, respectively) 15,467 17,112 Total intangible lease assets, net $ 203,389 $ 234,543 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $34,297 and $31,933, respectively (with a weighted average life remaining of 7.4 years and 7.5 years, respectively) $ 27,917 $ 32,718 Amortization of the above-market in-place The following table summarizes the amortization related to the intangible lease assets and liabilities for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 In-place $ 7,428 $ 5,615 $ 15,201 $ 11,555 Above-market lease amortization $ 599 $ 729 $ 1,249 $ 1,637 Below-market lease amortization $ 1,377 $ 1,267 $ 2,843 $ 2,666 As of June 30, 2021, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization In-Place Leases and Above-Market Leases Below-Market Leases Remainder of 2021 $ 14,027 $ 1,188 $ 2,541 2022 26,209 2,281 4,496 2023 23,027 2,028 3,832 2024 19,849 1,533 2,872 2025 16,071 1,292 2,503 Thereafter 88,739 7,145 11,673 Total $ 187,922 $ 15,467 $ 27,917	NOTE 5 — 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 $132,967 and $111,670, respectively (with a weighted average life remaining of 9.7 years and 10.4 years, respectively) $ 217,431 $ 164,724 Acquired above-market leases, net of accumulated amortization of $22,054 and $19,310, respectively (with aweighted average life remaining of 7.6 years and 7.9 years, respectively) 17,112 17,423 Total intangible lease assets, net $ 234,543 $ 182,147 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $31,933 and $25,800, respectively (with aweighted average life remaining of 7.5 years and 7.3 years, respectively) $ 32,718 $ 20,523 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 $ 23,262 $ 32,058 $ 45,559 Above-market lease amortization $ 3,095 $ 4,315 $ 6,740 Below-market lease amortization $ 5,309 $ 6,253 $ 8,448 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 Above-Market Leases Below-Market Leases 2021 $ 30,108 $ 2,489 $ 5,499 2022 $ 27,756 $ 2,345 $ 4,770 2023 $ 24,547 $ 2,086 $ 4,101 2024 $ 21,317 $ 1,576 $ 3,138 2025 $ 17,534 $ 1,334 $ 2,779 Thereafter $ 96,169 $ 7,282 $ 12,431 Total $ 217,431 $ 17,112 $ 32,718

REAL ESTATE-RELATED SECURITIES

REAL ESTATE-RELATED SECURITIES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE-RELATED SECURITIES	NOTE 6 — REAL ESTATE-RELATED SECURITIES As of June 30, 2021, the Company had CMBS investment securities with an aggregate estimated fair value of $42.1 million. The CMBS mature on various dates from November 2033 through June 2058 and have interest rates ranging from 2.7% to 13.0%, with one CMBS earning a zero coupon rate. The following is a summary of the Company’s real estate-related securities as of June 30, 2021 (in thousands): Real Estate-Related Securities Amortized Cost Basis Unrealized Gain Fair Value CMBS $ 39,520 $ 2,551 $ 42,071 Total real estate-related securities $ 39,520 $ 2,551 $ 42,071 The following table provides the activity for the real estate-related securities during the six months ended June 30, 2021 (in thousands): Amortized Cost Basis Unrealized Gain Fair Value Real estate-related securities as of January 1, 2021 $ 37,047 $ 1,147 $ 38,194 Face value of real estate-related securities acquired 34,491 — 34,491 Premiums and discounts on purchase of real estate-related (5,982 ) — (5,982 ) Amortization of discount on real estate-related securities 525 — 525 Sale of real estate-related securities (26,976 ) (648 ) (27,624 ) Capitalized interest income on real estate-related securities 435 — 435 Principal payments received on real estate-related securities (20 ) — (20 ) Unrealized gain on real estate-related securities — 2,052 2,052 Real estate-related $ 39,520 $ 2,551 $ 42,071 During the six months ended June 30, 2021, the Company invested $28.5 million in CMBS. During the same period, the Company sold CMBS with a carrying value of $27.0 million resulting in net proceeds of $27.6 million and a gain of $648,000. Unrealized gains and losses on real estate-related securities are recorded in other comprehensive income (loss), with a portion of the amount subsequently reclassified into interest expense and other, net in the accompanying condensed consolidated statements of operations as securities are sold and gains and losses are recognized. During the three and six months ended June 30, 2021, the Company recorded $1.9 million and $2.1 million, respectively, of unrealized gains on its real estate-related The scheduled maturities of the Company’s real estate-related Available-for-sale securities Amortized Cost Estimated Fair Value Due within one year $ — $ — Due after one year through five years — — Due after five years through ten years — — Due after ten years 39,520 42,071 Total $ 39,520 $ 42,071 Actual maturities of real estate-related securities can differ from contractual maturities because borrowers on certain corporate credit 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 related to real estate-related securities, management considers a variety of factors, including (1) whether the Company has the intent 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. As of June 30, 2021, the Company had no credit losses related to real estate-related securities.	NOTE 6 — REAL ESTATE-RELATED SECURITIES As of December 31, 2020, the Company had investments in four CMBS investment securities with an aggregate estimated fair value of $38.2 million. The CMBS mature on various dates from January 2024 through March 2034 and have interest rates ranging from 4.0% to 13.0%. The following is a summary of the Company’s real estate-related securities as of December 31, 2020 (in thousands): Real Estate-Related Securities Amortized Unrealized Fair CMBS $ 37,047 $ 1,147 $ 38,194 Total real estate-related securities $ 37,047 $ 1,147 $ 38,194 The following table provides the activity for the real estate-related securities during the year ended December 31, 2020 (in thousands): Amortized Unrealized Fair Real estate-related securities as of January 1, 2020 $ — $ — $ — Face value of real estate-related securities acquired 91,440 — 91,440 Premiums and discounts on purchase of real estate-related securities, net of acquisition costs (14,796 ) — (14,796 ) Amortization of discount (premium) on real estate-related securities 57 — 57 Principal payments received on real estate-related securities (2,571 ) — (2,571 ) Sale of real estate-related securities (37,083 ) (510 ) (37,593 ) Unrealized gain on real estate-related securities — 1,657 1,657 Real estate-related securities as of December 31, 2020 $ 37,047 $ 1,147 $ 38,194 During the year ended December 31, 2020, the Company invested $76.6 million in CMBS. During the same period, the Company sold $37.1 million in CMBS resulting in net proceeds of $37.6 million and a gain of $510,000. Unrealized gains and losses on real estate-related securities are recorded in other comprehensive (loss) income, with a portion of the amount subsequently reclassified into interest expense and other, net in the accompanying consolidated statements of operations as securities are sold and gains and losses are recognized. During the year ended December 31, 2020, the Company recorded $1.7 million of unrealized gains on its real estate-related securities included in accumulated other comprehensive (loss) income in the accompanying consolidated statement of stockholders’ equity. The scheduled maturities of the Company’s real estate-related securities as of December 31, 2020 are as follows (in thousands): Available-for-sale securities Amortized Cost Estimated Fair Value Due within one year $ — $ — Due after one year through five years 27,061 27,461 Due after five years through ten years — — Due after ten years 9,986 10,733 Total $ 37,047 $ 38,194 Actual maturities of real estate-related securities can differ from contractual maturities because borrowers on certain corporate credit 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 related to real estate-related securities, management considers a variety of factors, including (1) whether the Company has the intent 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. As of December 31, 2020, the Company had no credit losses related to real estate-related securities.

LOANS HELD-FOR-INVESTMENT

LOANS HELD-FOR-INVESTMENT	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
LOANS HELD-FOR-INVESTMENT	NOTE 7 — LOANS HELD-FOR-INVESTMENT The Company’s loans held-for-investment As of June 30, 2021 As of December 31, 2020 Mezzanine loans $ — $ 147,475 Senior loans 872,188 341,546 Total CRE loans held-for-investment 872,188 489,021 Broadly syndicated loans 484,059 473,603 Loans held-for-investment $ 1,356,247 $ 962,624 Less: Allowance for credit losses $ (13,011) $ (70,358 ) Total loans held-for-investment $ 1,343,236 $ 892,266 During the six months ended June 30, 2021, the Company invested $142.3 million in broadly syndicated loans. During the same period, the Company received $97.3 million of principal payments on broadly syndicated loans and sold $36.7 million of broadly syndicated loans, resulting in proceeds of $36.5 million after closing costs and a gain of $165,000. The gain was recorded as a decrease to interest expense and other, net in the condensed consolidated statements of operations. As of June 30, 2021, the Company had $43.2 million of unsettled broadly syndicated loan purchases included in cash and cash equivalents in the accompanying condensed consolidated balance sheet. As of June 30, 2021, the Company had $108.3 million of unfunded commitments related to CRE loans held-for-investment, The following table details overall statistics for the Company’s loans held-for-investment CRE Loans (1) (2) Broadly Syndicated Loans June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Number of loans 10 12 237 194 Principal balance $ 882,505 $ 481,438 $ 487,121 $ 477,777 Net book value $ 865,722 $ 428,393 $ 477,514 $ 463,873 Weighted-average interest rate 4.2 % 7.5 % 3.6 % 3.8 % Weighted-average maximum years to maturity 2.6 2.2 5.0 4.9 (1) As of June 30, 2021, 100% of the Company’s CRE loans by principal balance earned a floating rate of interest, primarily indexed to U.S. dollar LIBOR. (2) Maximum maturity date assumes all extension options are exercised by the borrower; however, the Company’s CRE loans may be repaid prior to such date. Activity relating to the Company’s loans held-for-investment Principal Balance Deferred Fees / Other Items (1) Loan Fees Receivable Net Book Value Balance, December 31, 2020 $ 959,215 $ (74,116 ) $ 7,167 $ 892,266 Loan originations and acquisitions 681,580 — — 681,580 Cure payments receivable (2) — (7,351 ) — (7,351 ) Sale of loans (36,664 ) 311 — (36,353 ) Principal repayments received (97,716 ) 257 — (97,459 ) Capitalized interest (2) (9,469 ) — — (9,469 ) Deferred fees and other items — (5,886 ) — (5,886 ) Accretion and amortization of fees and other items — (783 ) — (783 ) Foreclosure of assets (2) (127,320 ) 3,831 (7,167 ) (130,656 ) Allowance for credit losses (3) — 57,347 — 57,347 Balance, June 30, 2021 $ 1,369,626 $ (26,390 ) $ — $ 1,343,236 (1) Other items primarily consist of allowance for credit losses (as discussed below), purchase discounts or premiums, accretion of exit fees and deferred origination expenses. (2) During the six months ended June 30, 2021, the Company completed foreclosure of the assets which previously secured its eight mezzanine loans. (3) Includes the reversal of the allowance for credit losses related to the mezzanine loans upon foreclosure of the assets which previously secured the loans, as further discussed below in “Allowance for Credit Losses,” partially offset by the increase in allowance for credit losses related to the Company’s loans held- for-investment Allowance for Credit Losses The allowance for credit losses reflects the Company’s current estimate of potential credit losses related to the loans held-for-investment The following table presents the activity in the Company’s allowance for credit losses by loan type for the six months ended June 30, 2021 (dollar amounts in thousands): Mezzanine Loans Senior Loans Broadly Syndicated Loans Total Allowance for credit losses as of December 31, 2020 $ 58,038 $ 2,590 $ 9,730 $ 70,358 Foreclosure of assets (1) (58,038 ) — — (58,038 ) Provision for credit losses — 1,295 (727 ) 568 Allowance for credit losses as of March 31, 2021 $ — $ 3,885 $ 9,003 $ 12,888 Provision for (reversal of) credit losses — 2,581 (2,458 ) 123 Allowance for credit losses as of June 30, 2021 $ — $ 6,466 $ 6,545 $ 13,011 (1) During the six months ended June 30, 2021, the Company completed foreclosure of the assets which previously secured its eight mezzanine loans. Changes to the allowance for credit losses are recognized through net income (loss) on the Company’s condensed consolidated statements of operations. Troubled Debt Restructuring An individual financial instrument is classified as a troubled debt restructuring when there is a reasonable expectation that the financial instrument’s contractual terms will be modified in a manner that grants concessions to the borrower who is experiencing financial difficulties. Concessions could include term extensions, payment deferrals, interest rate reductions, principal forgiveness, forbearance, or other actions designed to maximize the Company’s collection on the financial instrument. The allowance for credit losses for financial instruments that are trouble debt restructurings are determined individually. The Company also classifies a financial instrument as a troubled debt restructuring when receivables from third parties, real estate, or other assets are transferred from the debtor to the creditor in order to fully or partially satisfy a debt, such as in the event of a foreclosure or repossession. During the year ended December 31, 2019, the borrower on the Company’s eight mezzanine loans became delinquent on certain required reserve payments. Throughout 2020, the borrower remained delinquent on the required reserve payments and became delinquent on principal and interest. As a result, the Company classified the loans as a troubled debt restructuring and commenced foreclosure proceedings during the year ended December 31, 2020. Upon completing foreclosure in January 2021, the Company took control of the assets which previously secured the loans, including 75 condominium units and 21 rental units across four buildings. As a result of the foreclosure, the Company recorded a $58.0 million decrease to its provision for credit losses related to its mezzanine loans during the three months ended March 31, 2021. During the six months ended June 30, 2021, the Company recorded a $691,000 net increase to the provision for credit losses related to its senior loans and broadly syndicated loans to reflect the estimated fair value of such loans, bringing the total allowance for credit losses to $13.0 million as of June 30, 2021. The Company recorded a decrease in the provision for credit losses related to its broadly syndicated loans during the three months ended June 30, 2021 due to the ongoing market recovery from COVID-19 Risk Ratings As further described in Note 2 — Summary of Significant Accounting Policies, the Company evaluates its loans held-for-investment The Company’s primary credit quality indicator is its risk ratings, which are further discussed above. The following table presents the net book value of the Company’s loans held-for-investment Number of Loans Amortized Cost of Loans Held-For-Investment (1) As of June 30, 2021 2021 2020 2019 Total Senior loans by internal risk rating: 1 — $ — $ — $ — $ — 2 — — — — — 3 10 521,699 234,248 116,241 872,188 4 — — — — — 5 — — — — — Total senior loans 10 521,699 234,248 116,241 872,188 Broadly syndicated loans by internal risk rating: 1 — — — — — 2 3 — 6,889 — 6,889 3 233 120,536 349,670 3,050 473,256 4 1 — 3,914 — 3,914 5 — — — — — Total broadly syndicated loans 237 120,536 360,473 3,050 484,059 Less: Allowance for credit losses (13,011 ) Total loans held-for-investment 247 $ 1,343,236 Weighted Average Risk Rating (2) 3.0 (1) Date loan was originated or acquired by the Company. Origination dates are subsequently updated to reflect material loan modifications. (2) Weighted average risk rating calculated based on carrying value at period end.	NOTE 7 — LOANS HELD-FOR-INVESTMENT The Company’s loans held-for-investment consisted of the following as of December 31, 2020 and 2019 (dollar amounts in thousands): As of December 31, 2020 2019 Mezzanine loans $ 147,475 $ 146,060 Senior loans 341,546 152,820 Total CRE loans-held-for-investment and related receivables, net 489,021 298,880 Broadly syndicated loans 473,603 2,750 Loans held-for-investment and related receivables, net $ 962,624 $ 301,630 Less: Allowance for credit losses $ (70,358 ) $ — Total loans-held-for-investment and related receivable, net $ 892,266 $ 301,630 During the year ended December 31, 2020, the Company invested $582.7 million in broadly syndicated loans. During the same period, the Company received $71.8 million of principal payments on broadly syndicated loans and sold $42.0 million of broadly syndicated loans, resulting in proceeds of $39.9 million after closing costs and a loss of $737,000. The loss was recorded as an increase to interest expense and other, net in the consolidated statements of operations. As of December 31, 2020, the Company had $41.0 million of unsettled broadly syndicated loan purchases included in cash and cash equivalents in the accompanying consolidated balance sheet. As of December 31, 2020, the Company had $169.1 million of unfunded commitments related to CRE loans held-for-investment, the funding of which is subject to the satisfaction of borrower milestones. These commitments are not reflected in the accompanying consolidated balance sheet. The following table details overall statistics for the Company’s loans held-for-investment as of December 31, 2020 and 2019 (dollar amounts in thousands): CRE Loans (1) (2) Broadly Syndicated Loans As of December 31, As of December 31, 2020 2019 2020 2019 Number of loans 12 11 194 1 Principal balance $ 481,438 $ 297,357 $ 477,777 $ 2,750 Net book value $ 428,393 $ 298,880 $ 463,873 $ 2,750 Weighted-average interest rate 7.5 % 8.9 % 3.8 % 4.5 % Weighted-average maximum years to maturity 2.2 2.9 4.9 5.2 (1) As of December 31, 2020, 100% of the Company’s loans by principal balance earned a floating rate of interest, primarily indexed to U.S. dollar LIBOR. (2) Maximum maturity date assumes all extension options are exercised by the borrowers; however, the Company’s CRE loans may be repaid prior to such date. Activity relating to the Company’s loans held-for-investment portfolio was as follows for the years ended December 31, 2020 and 2019 (dollar amounts in thousands): Principal Deferred (1) Loan Fees Net Book Balance, January 1, 2019 $ 89,679 $ (6,540 ) $ 6,623 $ 89,762 Loan originations and acquisitions 219,096 (417 ) 1,085 219,764 Principal repayments received (17,186 ) — — (17,186 ) Capitalized interest (2) 8,546 — — 8,546 Deferred fees and other items — (1,531 ) (166 ) (1,697 ) Accretion and amortization of fees and other items — 2,441 — 2,441 Balance, December 31, 2019 $ 300,135 $ (6,047 ) $ 7,542 $ 301,630 Loan originations and acquisitions 820,015 (5 ) 5 820,015 Cure payments receivable (3) — 7,351 — 7,351 Sale of loans (42,031 ) 1,392 — (40,639 ) Principal repayments received (4) (119,443 ) — — (119,443 ) Capitalized interest (2) 539 — — 539 Deferred fees and other items — (8,969 ) (380 ) (9,349 ) Accretion and amortization of fees and other items — 2,520 — 2,520 Allowance for credit losses (5) — (70,358 ) — (70,358 ) Balance, December 31, 2020 $ 959,215 $ (74,116 ) $ 7,167 $ 892,266 (1) Other items primarily consist of purchase discounts or premiums, accretion of exit fees and deferred origination expenses. (2) Represents accrued interest on loans whose terms do not require a current cash payment of interest. (3) Represents operating expenses related to the mezzanine loans paid by the Company on the borrower’s behalf in connection with the foreclosure proceedings that commenced during the year ended December 31, 2020, as further discussed below in “Allowance for Credit Losses.” (4) Includes the repayment of a $40.8 million senior loan prior to the maturity date. (5) Includes the initial allowance for credit losses against the loans held-for-investment recorded on January 1, 2020 and the increase in allowance for credit losses related to its loans held-for-investment during the year ended December 31, 2020, as further discussed below in “Allowance for Credit Losses.” Allowance for Credit Losses The allowance for credit losses reflects the Company’s current estimate of potential credit losses related to the loans held-for-investment included in the Company’s consolidated balance sheets. Refer to Note 2 — Summary of Significant Accounting Policies for further discussion of the Company’s allowance for credit losses. The following table presents the activity in the Company’s allowance for credit losses by loan type for the year ended December 31, 2020 (dollar amounts in thousands): Mezzanine Senior Broadly Total Allowance for credit losses as of December 31, 2019 $ — $ — $ — $ — Transition adjustment on January 1, 2020 1,494 468 40 2,002 Provision for credit losses 13,047 341 4,389 17,777 Allowance for credit losses as of March 31, 2020 14,541 809 4,429 19,779 Provision for credit losses 6,728 (317 ) 1,494 7,905 Allowance for credit losses as of June 30, 2020 21,269 492 5,923 27,684 Provision for credit losses 3,601 1,390 2,364 7,355 Allowance for credit losses as of September 30, 2020 24,870 1,882 8,287 35,039 Provision for credit losses 33,168 708 1,443 35,319 Allowance for credit losses as of December 31, 2020 $ 58,038 $ 2,590 $ 9,730 $ 70,358 The Company’s initial allowance for credit losses against the loans held-for-investment of $2.0 million recorded on January 1, 2020 is reflected as a direct charge to retained earnings on the Company’s consolidated statements of stockholders’ equity; however, subsequent changes to the allowance for credit losses are recognized through net income on the Company’s consolidated statements of operations. During the year ended December 31, 2020, the Company recorded a $68.4 million increase in allowance for credit losses related to its loans held-for-investment, bringing the total allowance for credit losses to $70.4 million as of December 31, 2020. During the year ended December 31, 2019, the borrower on the Company’s eight mezzanine loans, which represents approximately 3.3% of total assets as of December 31, 2020, became delinquent on certain required reserve payments. During the three months ended March 31, 2020, the borrower remained delinquent on the required reserve payments and became delinquent on principal and interest. Additionally, during the three months ended June 30, 2020, the fair value of the collateral, which is based on comparable market sales, further decreased compared to the amortized cost basis. During the three months ended September 30, 2020, the Company commenced foreclosure proceedings to take control of the condominium properties in New York securing the mezzanine loans. As a result of this activity related to the Company’s mezzanine loans, the Company recorded a net increase to its provision for credit losses on the four loans of $58.0 million during the year ended December 31, 2020 to reflect the estimated fair value of the collateral, which included a $7.4 million provision for credit losses associated with a cure payments receivable for operating expenses paid by the Company on the borrower’s behalf during the year ended December 31, 2020. Subsequent to December 31, 2020, the Company completed foreclosure proceedings to take control of the properties securing its mezzanine loans, as discussed in Note 19 — Subsequent Events. As further described in Note 2 — Summary of Significant Accounting Policies, the Company evaluates its loans-held-for-investment portfolio on a quarterly basis. Each quarter, the Company assesses the risk factors of each loan, and assigns a risk rating based on several factors. Factors considered in the assessment include, but are not limited to, loan and credit structure, current LTV, debt yield, collateral performance, and the quality and condition of the sponsor, borrower, and guarantor(s). Loans are rated “1” (less risk) through “5” (greater risk), which ratings are defined in Note 2 — Summary of Significant Accounting Policies. The Company’s primary credit quality indicator is its risk ratings, which are further discussed above. The following table presents the net book value of the Company’s loans-held-for-investment portfolio as of December 31, 2020 by year of origination, loan type, and risk rating (dollar amounts in thousands): Amortized Cost of Loans Held-For-Investment by (1) As of December 31, 2020 Number 2020 2019 2018 Total Mezzanine loans by internal risk rating: 1 — $ — $ — $ — $ — 2 — — — — — 3 — — — — — 4 — — — — — 5 8 — 57,045 90,430 147,475 Total mezzanine loans 8 — 57,045 90,430 147,475 Senior loans by internal risk rating: 1 — — — — — 2 — — — — — 3 4 225,822 115,724 — 341,546 4 — — — — — 5 — — — — — Total senior loans 4 225,822 115,724 — 341,546 Broadly syndicated loans by internal risk rating: 1 — — — — — 2 3 6,880 — — 6,880 3 189 456,711 2,739 — 459,450 4 2 7,273 — — 7,273 5 — — — — — Total broadly syndicated loans 194 470,864 2,739 — 473,603 Less: Allowance for credit losses (70,358 ) Total loans-held-for-investment and related receivables, net 206 $ 892,266 Weighted Average Risk Rating (2) 3.3 (1) Date loan was originated or acquired by the Company. Origination dates are subsequently updated to reflect material loan modifications. (2) Weighted average risk rating calculated based on carrying value at period end.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 8 — 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 six months ended June 30, 2021, two of the Company’s interest rate swap agreements matured. Additionally, the Company entered into four interest rate cap agreements during the six months ended June 30, 2021. As of June 30, 2021, the Company had three interest rate swap agreements designated as hedging instruments and four non-designated The following table summarizes the terms of the Company’s interest rate swap agreements and interest rate cap agreements as of June 30, 2021 and December 31, 2020 (dollar amounts in thousands): Outstanding Fair Value of Assets Balance Sheet Location Interest Effective Maturity June 30, 2021 December 31, 2020 Interest Rate Caps Prepaid expenses and other assets $ 102,553 5.45% (1) 5/7/2021 5/9/2022 $ — $ — Interest Rate Swaps Deferred rental income, derivative liabilities and other liabilities $ 241,500 2.55% to (2) 6/29/2016 to 7/1/2021 to $(6,289) $ (12,308 ) (1) The interest rate consists of the underlying index capped to a fixed rate as of June 30, 2021. (2) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of June 30, 2021. 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 derivative instruments 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 has interest rate caps that are used to manage exposure to interest rate movements, but do not meet the requirements to be designated as hedging instruments. The change in fair value of the derivative instruments that are not designated as hedges is recorded directly to earnings in interest expense and other, net on the accompanying condensed consolidated statements of operations. The Company has interest rate swaps that are designated 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 income (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 three and six months ended June 30, 2021, the amount of losses reclassified from other comprehensive income (loss) as an increase to interest expense was $71,000 and $3.2 million, respectively. For the three and six months ended June 30, 2020, the amount of losses reclassified from other comprehensive income (loss) as an increase to interest expense was $3.3 million and $4.3 million, respectively. The total unrealized gain on interest rate swaps was $80,000 as of June 30, 2021, and the total unrealized loss on interest rate swaps was $3.2 million as of December 31, 2020, which are included in accumulated other comprehensive (loss) income in the accompanying condensed consolidated statement of stockholders’ equity. During the next 12 months, the Company estimates that $59,000 will be reclassified from other comprehensive income (loss) as an increase to interest expense. The Company includes cash flows from interest rate swap agreements in net cash flows provided by operating activities on its condensed consolidated statements of cash flows, as the Company’s accounting policy is to present cash flows from hedging instruments in the same category in its condensed 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 their aggregate termination value, inclusive of interest payments and accrued interest, of $6.3 million as of June 30, 2021. 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 quality of the Company and the respective counterparty. There were no termination events or events of default related to the interest rate swaps as of June 30, 2021.	NOTE 8 — 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 swap agreements was partially terminated prior to the maturity date, resulting in a loss of $97,000. The loss was recorded as an increase to interest expense and other, net included in the accompanying consolidated statements of operations. In addition, the Company assumed two interest rate swap agreements in connection with the Mergers. As of December 31, 2020, the Company had five interest rate swap agreements designated as hedging instruments. The following table summarizes the terms of the Company’s interest rate swap agreements designated as hedging instruments as of December 31, 2020 and 2019 (dollar amounts in thousands): Balance Sheet Location Outstanding Notional Interest Rates (1) Effective Maturity Fair Value of Liabilities as of December 31, December 31, (2) Interest Rate Swaps Derivative liabilities, $ 1,085,266 2.55% to 4.50% 6/29/2016 3/15/2021 $ (12,308 ) $ (4,181 ) (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, the Company had two interest rate swap agreements in an asset position with a notional amount of $60.0 million and a fair value of $261,000 included in prepaid expenses and other assets on the 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) income, 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 amount of loss reclassified from other comprehensive (loss) income as an increase to interest expense was $12.3 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 $3.5 million and $4.3 million, respectively. The total unrealized loss on interest rate swaps of $12.3 million and $3.9 million as of December 31, 2020 and 2019, respectively, and the total unrealized gain on interest rate swaps of $11.0 million as of December 31, 2018 is included in accumulated other comprehensive income (loss) in the accompanying consolidated statement of stockholders’ equity. During the next 12 months, the Company estimates that $3.3 million will be reclassified from other comprehensive (loss) income as an increase to interest expense. The Company includes cash flows from interest rate swap agreements in net cash flows provided by operating activities on its consolidated statements of cash flows, as the Company’s accounting policy is to present cash flows from hedging instruments in the same category in its 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 their aggregate termination value, inclusive of interest payments and accrued interest of $13.1 million as of 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 quality of the Company and the respective counterparty. There were no termination events or events of default related to the interest rate swaps as of December 31, 2020.

CREDIT FACILITIES, NOTES PAYABL

CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES	NOTE 9 — CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES As of June 30, 2021, the Company had $2.5 billion of debt outstanding, including net deferred financing costs, with a weighted average years to maturity of 1.6 years and a weighted average interest rate of 2.8%. The weighted average years to maturity is computed using the scheduled repayment date as specified in each loan agreement where applicable. The weighted average interest rate is computed using the interest rate in effect until the scheduled repayment date. The following table summarizes the debt balances as of June 30, 2021 and December 31, 2020, and the debt activity for the six months ended June 30, 2021 (in thousands): During the Six Months Ended June 30, 2021 Balance as of 2020 Debt Issuances & (1) Repayments & (2) Accretion and (Amortization) Balance as of June 30, 2021 Notes payable — fixed rate debt $ 578,096 $ — $ (54,534 ) $ — $ 523,562 Notes payable — variable rate debt — 102,553 (8,351 ) — 94,202 Credit facilities 1,336,500 320,000 (235,000 ) — 1,421,500 Repurchase facilities 235,380 270,182 (136 ) — 505,426 Total debt 2,149,976 692,735 (298,021 ) — 2,544,690 Net premiums (3) 149 — — (149 ) — Deferred costs — credit facility (4) (3,543 ) — — 1,466 (2,077 ) Deferred costs — fixed rate debt (1,589 ) — 45 374 (1,170 ) Deferred costs — variable rate debt — (1,346 ) — 712 (634 ) Total debt, net $ 2,144,993 $ 691,389 $ (297,976 ) $ 2,403 $ 2,540,809 (1) Includes deferred financing costs incurred during the period. (2) In connection with the repayment of certain mortgage notes, the Company recognized a loss on extinguishment of debt of $1.5 million during the six months ended June 30, 2021. (3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (4) Deferred costs related to the term portion of the CMFT Credit Facility (as defined below). Notes Payable As of June 30, 2021, the fixed rate debt outstanding of $523.6 million included $21.5 million of variable rate debt that is fixed through interest rate swap agreements, which has the effect of fixing the variable interest rates per annum through the maturity date of the variable rate debt. The fixed rate debt has interest rates ranging from 2.6% to 4.6% per annum. The fixed rate debt outstanding matures on various dates from July 2021 to December 2024. Should a loan not be repaid by its scheduled repayment date, the applicable interest rate may increase as specified in the respective loan agreement. The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $904.5 million as of June 30, 2021. Each of the mortgage notes payable comprising the fixed rate debt is secured by the respective properties on which the debt was placed. Upon completing foreclosure to take control of the assets which previously secured the Company’s mezzanine loans in January 2021, the Company assumed $102.6 million in variable rate debt related to the underlying properties. As of June 30, 2021, the variable rate debt outstanding of $94.2 million had a weighted average interest rate of 5.5%. The variable rate debt outstanding matures on May 9, 2022. Credit Facilities The Company has a second amended and restated unsecured credit agreement (the “CMFT Second Amended and Restated Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent (“JPMorgan Chase”), and the other lenders party thereto that provides for borrowings of up to $1.24 billion as of June 30, 2021, which includes an $885.0 million unsecured term loan (the “CMFT Term Loan”) and up to $350.0 million in unsecured revolving loans (the “CMFT Revolving Loans” and, collectively with the CMFT Term Loan, the “CMFT Credit Facility”). The CMFT Credit Facility matures on March 15, 2022. Depending upon the type of loan specified and overall leverage ratio, the CMFT Credit Facility bears interest at (i) the one-month, two-month, three-month six-month one-month On December 21, 2020, as a result of CCPT V’s merger with the Company, a subsidiary of the Company assumed CCPT V’s obligations pursuant to the credit agreement by and among Cole Operating Partnership V, LP, the operating partnership of CCPT V (“CCPT V OP”), JPMorgan Chase, as administrative agent, and the lender parties thereto (the “CCPT V Credit Agreement”), including as guarantor under a guaranty provided by CCPT V, and as modified by a modification agreement dated as of May 31, 2018 and subsequently modified following the consummation of CCPT V’s merger with the Company by a second modification agreement on December 21, 2020. The CCPT V Credit Agreement allows for borrowings of up to $350.0 million (the “CCPT V Credit Facility”). The CCPT V Credit Facility includes $220.0 million in term loans outstanding (the “CCPT V Term Loans”) and up to $130.0 million in revolving loans (the “CCPT V Revolving Loans,” and, collectively with the CMFT Revolving Loans, the “Revolving Loans”). The CCPT V Credit Facility matures on March 15, 2022. Depending upon the type of loan specified and overall leverage ratio, the CCPT V Credit Facility bears interest at (i) the one-month, two-month, six-month As of June 30, 2021, there were no amounts outstanding under the Revolving Loans. As of June 30, 2021, the CMFT Term Loan and CCPT V Term Loans (collectively the “Term Loans”) outstanding totaled $1.11 billion, $220.0 million of which is subject to interest rate swap agreements (the “Swapped Term Loans”). The interest rate swap agreements had the effect of fixing the Eurodollar Rate per annum of the Swapped Term Loans at an all-in The CMFT Second Amended and Restated Credit Agreement and the CCPT V Credit Agreement (collectively, the “Credit Agreements”) contain provisions with respect to covenants, events of default and remedies customary for facilities of this nature. In particular, the CMFT Second Amended and Restated Credit Agreement requires the Company to maintain a minimum consolidated net worth greater than or equal to the sum of $1.75 billion under the CMFT Second Amended and Restated Credit Agreement, and a leverage ratio less than or equal to 60%. The CCPT V Credit Agreement requires a minimum consolidated net worth not less than $225.0 million plus 75% of the equity issued and a net leverage ratio less than or equal to 60%. Each of the Credit Agreements require a fixed charge coverage ratio 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. The Company believes it was in compliance with the financial covenants under the CMFT Second Amended and Restated Credit Agreement and the CCPT V Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements, as of June 30, 2021. On December 31, 2019 (the “Closing Date”), CMFT Corporate Credit Securities, LLC, an indirect wholly-owned, bankruptcy-remote subsidiary of the Company, entered into a revolving credit and security agreement (the “Credit and Security Agreement”) with the lenders from time to time parties thereto, Citibank, N.A. (“Citibank”), as administrative agent, CMFT Securities Investments, LLC, a wholly-owned subsidiary of the Company (“CMFT Securities”), as equityholder and as collateral manager, Citibank (acting through its Agency & Trust division), as both a collateral agent and as a collateral custodian, and Virtus Group, LP, as collateral administrator. The Credit and Security Agreement provides for borrowings in an aggregate principal amount up to $500.0 million (the “Credit Securities Revolver”), which may be increased from time to time pursuant to the Credit and Security Agreement. As of June 30, 2021, the amounts borrowed and outstanding under the Credit Securities Revolver totaled $316.5 million at a weighted average interest rate of 1.8%. Subsequent to June 30, 2021, the Company received borrowings in an aggregate principal amount of $50.0 million under the Credit and Security Agreement, as discussed in Note 17 — Subsequent Events. Borrowings under the Credit and Security Agreement will bear interest equal to the three-month LIBOR for the relevant interest period, plus an applicable rate. The applicable rate is 1.70% per annum during the reinvestment period and 2.00% per annum during the amortization period (and, in each case, an additional 2.00% per annum following an event of default under the Credit and Security Agreement). The reinvestment period begins on the Closing Date and concludes on the earlier of (i) the date that is three years after the Closing Date, (ii) the final maturity date and (iii) the date on which the total assets under management of the Company and its wholly-owned subsidiaries is less than $1.25 billion (the “Reinvestment Period”). The final maturity date is the earliest to occur of: (i) the date that the Credit Securities Revolver is paid down and (ii) the second anniversary after the Reinvestment Period concludes. Borrowings under the Credit and Security Agreement are secured by substantially all of the assets held by CMFT Corporate Credit Securities, LLC, which shall primarily consist of broadly-syndicated senior secured loans subject to certain eligibility criteria under the Credit and Security Agreement. Repurchase Facilities On June 4, 2020, CMFT RE Lending RF Sub CB, LLC, an indirect wholly-owned subsidiary of the Company, entered into a Master Repurchase Agreement with Citibank (the “Citibank Repurchase Agreement”), which provides up to $300.0 million of financing primarily through Citibank’s purchase of the Company’s CRE mortgage loans and future funding advances (the “Citibank Repurchase Facility”). On September 21, 2020, CMFT RE Lending RF Sub BB, LLC, an indirect wholly-owned subsidiary of the Company, entered into a second Master Repurchase Agreement with Barclays Bank PLC (“Barclays”) (the “Barclays Repurchase Agreement”), which provides up to $500.0 million of financing primarily through Barclays’ purchase of the Company’s CRE mortgage loans and future funding advances (the “Barclays Repurchase Facility”). Additionally, on May 20, 2021, CMFT RE Lending RF Sub WF, LLC, an indirect wholly-owned subsidiary of the Company, entered into a third Master Repurchase Agreement with Wells Fargo Bank, N.A. (“Wells Fargo”) (the “Wells Fargo Repurchase Agreement”), which provides up to $250.0 million of financing primarily through Wells Fargo’s purchase of the Company’s CRE mortgage notes and future funding advances (the “Wells Fargo Repurchase Facility,” and, collectively with the Citibank Repurchase Facility and Barclays Repurchase Facility, the “Repurchase Facilities”). The Citibank Repurchase Agreement, the Barclays Repurchase Agreement, and the Wells Fargo Repurchase Agreement (collectively, the “Repurchase Agreements”) provide for simultaneous agreements by Citibank, Barclays and Wells Fargo to re-sell one-month case-by-case one-year In connection with the Repurchase Agreements, the Company (as the guarantor) entered into guaranties with Citibank, Barclays and Wells Fargo (the “Guaranties”), under which the Company agreed to guarantee up to 25% of the CMFT Lending Subs’ obligations under the Repurchase Agreements. As of June 30, 2021, the Company had nine senior loans with an aggregate carrying value of $727.4 million financed with $505.4 million under the Repurchase Facilities, $250.0 million of which was financed under the Barclays Repurchase Facility at a weighted average interest rate of 2.5%, $188.0 million of which was financed under the Citibank Repurchase Facility at a weighted average interest rate of 2.2%, and $67.4 million of which was financed under the Wells Fargo Repurchase Facility at a weighted average interest rate of 1.8%. The Repurchase Agreements and the Guaranties contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of these types. In addition, the Guaranties contain financial covenants that require the Company to maintain: (i) minimum liquidity of not less than the lower of (a) $50.0 million and (b) the greater of (A) $10.0 million and (B) 5% of the Company’s recourse indebtedness, as defined in the Guaranties; (ii) minimum consolidated net worth greater than or equal to $1.0 billion plus (a) 75% of the equity issued by the Company following the respective closing dates of the Repurchase Agreements (the “Repurchase Closing Dates”) minus (b) the aggregate amount of any redemptions or similar transaction by the Company from the Repurchase Closing Dates; (iii) maximum leverage ratio of total indebtedness to total equity less than or equal to 80%; and (iv) minimum interest coverage ratio of EBITDA (as defined in the Guaranties) to interest expense equal to or greater than 1.40. The Company believes it was in compliance with the financial covenants under the Repurchase Agreements as of June 30, 2021. Maturities Liquidity and Financial Condition loan-to-value The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to June 30, 2021 (in thousands): Principal Repayments Remainder of 2021 $ 105,171 2022 1,207,098 2023 757,442 2024 474,979 2025 — Thereafter — Total $ 2,544,690	NOTE 9 — CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES As of December 31, 2020, the Company had $2.1 billion of debt outstanding, including net deferred financing costs, with a weighted average years to maturity of 1.9 years and a weighted average interest rate of 3.4%. The weighted average years to maturity is computed using the scheduled repayment date as specified in each loan agreement where applicable. The weighted average interest rate is computed using the interest rate in effect until the scheduled repayment 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 & (1) Repayments & (2) Accretion & Balance as of Notes payable $ 726,261 $ 92,212 (5) $ (240,377 ) $ — $ 578,096 Credit facilities 885,000 629,025 (6) (177,525 ) — 1,336,500 Repurchase facilities — 235,380 — — 235,380 Total debt 1,611,261 956,617 (417,902 ) — 2,149,976 Net premiums (3) 241 — — (92 ) 149 Deferred costs — credit facility (4) (3,933 ) (1,440 ) — (7) 1,830 (3,543 ) Deferred costs — fixed rate debt (2,709 ) — 186 (7) 934 (1,589 ) Total debt, net $ 1,604,860 $ 955,177 $ (417,716 ) $ 2,672 $ 2,144,993 (1) Includes deferred financing costs incurred during the period. (2) In connection with the repayment of certain mortgage notes, the Company recognized a loss on extinguishment of debt of $4.8 million during the year ended December 31, 2020. (3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (4) Deferred costs related to the term portion of the CMFT Credit Facility (as defined below). (5) Represents fixed rate debt assumed upon completion of the Mergers during the year ended December 31, 2020. (6) Includes credit facility borrowings of $287.5 million assumed upon completion of the Mergers during the year ended December 31, 2020. (7) Represents deferred financing costs written off during the period resulting from debt repayments prior to the respective maturity dates. Notes Payable As of December 31, 2020, the fixed rate debt outstanding of $578.1 million included $53.6 million of variable rate debt that is fixed through interest rate swap agreements, which has the effect of fixing the variable interest rates per annum through the maturity date of the variable rate debt. The fixed rate debt has interest rates ranging from 2.6% to 5.0% per annum. The fixed rate debt outstanding matures on various dates from April 2021 through December 2024. Should a loan not be repaid by its scheduled repayment date, the applicable interest rate may increase as specified in the respective loan agreement. The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $981.8 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 Facilities The Company has a second amended and restated unsecured credit agreement (the “CMFT Second Amended and Restated Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent (“JPMorgan Chase”), and the other lenders party thereto that provides for borrowings of up to $1.24 billion as of December 31, 2020, which includes an $885.0 million unsecured term loan (the “CMFT Term Loan”) and up to $350.0 million in unsecured revolving loans (the “CMFT Revolving Loans” and collectively, with the CMFT Term Loan, the “CMFT Credit Facility”). The CMFT Credit Facility matures on March 15, 2022. Depending upon the type of loan specified and overall leverage ratio, the CMFT 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 1.65% to 2.25% or (ii) a base rate, ranging from 0.65% to 1.25%, plus the greater of: (a) JPMorgan Chase’s prime rate; (b) the Federal Funds Effective Rate (as defined in the CMFT Second Amended and Restated Credit Agreement) plus 0.50%; or (c) the one-month LIBOR multiplied by the statutory reserve rate plus 1.00%. On December 21, 2020, as a result of the CCPT V Merger, a subsidiary of the Company assumed CCPT V’s obligations pursuant to the credit agreement by and among Cole Operating Partnership V, LP, the operating partnership of CCPT V (“CCPT V OP”), JPMorgan Chase, as administrative agent, and the lender parties thereto (the “CCPT V Credit Agreement”), including as guarantor under a guaranty provided by CCPT V, and as modified by a modification agreement dated as of May 31, 2018 and subsequently modified following the consummation of the CCPT V Merger by a second modification agreement on December 21, 2020. The CCPT V Credit Agreement allows for borrowings of up to $350.0 million (the “CCPT V Credit Facility”). The CCPT V Credit Facility includes $220.0 million in term loans (the “CCPT V Term Loans”) and up to $130.0 million in revolving loans (the “CCPT V Revolving Loans”). The CCPT V Credit Facility matures on March 15, 2022. Depending upon the type of loan specified and overall leverage ratio, the CCPT V Credit Facility bears interest at (i) the one-month, two-month, three-month or six-month LIBOR multiplied by the statutory reserve rate (the “Adjusted LIBO Rate”) for the interest period plus an applicable rate ranging from 1.30% to 1.70%; or (ii) a base rate ranging from 0.30% to 0.70%, plus the greater of: (a) JPMorgan Chase’s Prime Rate (as defined in the CCPT V Credit Agreement); (b) the NYFRB Rate (as defined in the CCPT V Credit Agreement) plus 0.50%; or (c) the Adjusted LIBO Rate for a period of one month plus 1.0%. As of December 31, 2020, there were no amounts outstanding under the CMFT Revolving Loans or the CCPT V Revolving Loans (collectively, the “Revolving Loans”). As of December 31, 2020, the CMFT Term Loan and CCPT V Term Loans (collectively, the “Term Loans”) outstanding totaled $1.1 billion, $1.0 billion of which is subject to interest rate swap agreements (the “Swapped Term Loans”). The interest rate swap agreements had the effect of fixing the Eurodollar Rate per annum of the Swapped Term Loans at an all-in rate of 3.9%. As of December 31, 2020, the Company had $1.1 billion outstanding under the CMFT Credit Facility and CCPT V Credit Facility (collectively, the “Credit Facilities”) at a weighted average interest rate of 3.7% and $480.0 million in unused capacity, subject to borrowing availability. The Company had available borrowings of $135.5 million as of December 31, 2020. The CMFT Second Amended and Restated Credit Agreement and the CCPT V Credit Agreement (collectively, the “Credit Agreements”) contain provisions with respect to covenants, events of default and remedies customary for facilities of this nature. In particular, the CMFT Second Amended and Restated Credit Agreement requires the Company to maintain a minimum consolidated net worth greater than or equal to the sum of (i) $1.75 billion under the CMFT Second Amended and Restated Credit Agreement and a leverage ratio less than or equal to 60%. The CCPT V Credit Agreement requires the Company to maintain a minimum consolidated net worth not less than $225.0 million plus 75% of the equity issued by the Company and a net leverage ratio less than or equal to 60%. Each of the Credit Agreements require the Company to maintain a fixed charge coverage ratio 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. The Company believes it was in compliance with the financial covenants under the CMFT Second Amended and Restated Credit Agreement and the CCPT V Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements, as of December 31, 2020, with the exception of one mortgage note serviced by PNC Bank, N.A (“PNC Bank”) where the Company failed to meet the debt service coverage ratio covenant under the mortgage at December 31, 2020. Additionally, the Company previously failed to meet the debt service coverage ratio covenant under one mortgage note serviced by Wells Fargo, N.A. (“Wells Fargo”) as of September 30, 2020, but subsequently passed and was in compliance with this covenant as of December 31, 2020. Pursuant to the loan agreements, non-compliance with the debt service coverage ratio covenant triggers a cash sweep of the underlying property’s operating cash flow, which was waived by PNC Bank during the year ended December 31, 2020. As of December 31, 2020, Wells Fargo had not initiated a cash sweep of the underlying property’s operating cash flow. On December 31, 2019 (the “Closing Date”), CMFT Corporate Credit Securities, LLC, an indirect wholly-owned, bankruptcy-remote subsidiary of the Company, entered into a revolving credit and security agreement (the “Credit and Security Agreement”) with the lenders from time to time parties thereto, Citibank, N.A. (“Citibank”), as administrative agent, CMFT Securities Investments, LLC, a wholly-owned subsidiary of the Company, as equityholder and as collateral manager, Citibank (acting through its Agency & Trust division), as both a collateral agent and as a collateral custodian, and Virtus Group, LP, as collateral administrator. The Credit and Security Agreement provides for borrowings in an aggregate principal amount up to $500.0 million (the “Credit Securities Revolver”), which may be increased from time to time pursuant to the Credit and Security Agreement. As of December 31, 2020, the amounts borrowed and outstanding under the Credit Securities Revolver totaled $231.5 million at a weighted average interest rate of 1.9%. Borrowings under the Credit and Security Agreement will bear interest equal to the three-month LIBOR for the relevant interest period, plus an applicable rate. The applicable rate is 1.70% per annum during the reinvestment period and 2.00% per annum during the amortization period (and, in each case, an additional 2.00% per annum following an event of default under the Credit and Security Agreement). The reinvestment period begins on the Closing Date and concludes on the earlier of (i) the date that is three years after the Closing Date, (ii) the final maturity date and (iii) the date on which the total assets under management of the Company and its wholly- owned subsidiaries is less than $1.25 billion (the “Reinvestment Period”). The final maturity date is the earliest to occur of: (i) the date that the Credit Securities Revolver is paid down and (ii) the second anniversary after the Reinvestment Period concludes. Borrowings under the Credit and Security Agreement are secured by substantially all of the assets held by CMFT Corporate Credit Securities, LLC, which shall primarily consist of broadly-syndicated senior secured loans subject to certain eligibility criteria under the Credit and Security Agreement. Repurchase Facilities On June 4, 2020, CMFT RE Lending RF Sub CB, LLC, an indirect wholly-owned subsidiary of the Company, entered into a Master Repurchase Agreement with Citibank (the “Citibank Repurchase Agreement”), which provides up to $300.0 million of financing primarily through Citibank’s purchase of the Company’s CRE mortgage loans and future funding advances (the “Citibank Repurchase Facility”). Additionally, on September 21, 2020, CMFT RE Lending RF Sub BB, LLC, an indirect wholly-owned subsidiary of the Company, entered into a second Master Repurchase Agreement with Barclays Bank PLC (“Barclays”) (the “Barclays Repurchase Agreement”), which provides up to $500.0 million of financing primarily through Barclays’ purchase of the Company’s CRE mortgage loans and future funding advances (the “Barclays Repurchase Facility”, and collectively with the Citibank Repurchase Facility, the “Repurchase Facilities”). The Citibank Repurchase Agreement and the Barclays Repurchase Agreement (collectively, the “Repurchase Agreements”) provide for simultaneous agreements by Citibank and Barclays to re- sell such purchased CRE mortgage loans back to CMFT RE Lending RF Sub CB, LLC and CMFT RE Lending RF Sub BB, LLC (collectively, the “CMFT Lending Subs”) at a certain future date or upon demand. Advances under the Repurchase Agreements accrue interest at per annum rates based on the one-month LIBOR, plus a spread ranging from 2.00% to 2.40% to be determined on a case-by-case basis between Citibank or Barclays and the CMFT Lending Subs. The Repurchase Facilities mature on various dates between June 2023 and September 2023, with two one-year extension options, subject to certain conditions set forth in the Repurchase Agreements. In connection with the Repurchase Agreements, the Company (as the guarantor) entered into guaranties with Citibank and Barclays (the “Guaranties”), under which the Company agreed to guarantee up to 25% of the CMFT Lending Subs’ obligations under the Repurchase Agreements. As of December 31, 2020, the Company had four senior loans with an aggregate carrying value of $341.5 million financed with $235.4 million under the Repurchase Facilities, $109.1 million of which was financed under the Barclays Repurchase Facility at a weighted average interest rate of 2.9%, and $126.3 million of which was financed under the Citibank Repurchase Facility at a weighted average interest rate of 2.3%. The Repurchase Agreements and the Guaranties contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of these types. In addition, the Guaranties contains financial covenants that require the Company to maintain: (i) minimum liquidity of not less than the lower of (a) $50.0 million and (b) the greater of (A) $10.0 million and (B) 5% of the Company’s recourse indebtedness, as defined in the Guaranties; (ii) minimum consolidated net worth greater than or equal to $1.0 billion plus (a) 75% of the equity issued by the Company following the respective closing dates of the Repurchase Agreements (the “Repurchase Closing Dates”) minus (b) the aggregate amount of any redemptions or similar transaction by the Company from the Repurchase Closing Dates; (iii) maximum leverage ratio of total indebtedness to total equity less than or equal to 80%; and (iv) minimum interest coverage ratio of EBITDA (as defined in the Guaranties) to interest expense equal to or greater than 1.40. The Company believes it was in compliance with the financial covenants under the Repurchase Agreements as of December 31, 2020. Maturities Liquidity and Financial Condition 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 2021 $ 138,210 2022 1,134,391 2023 554,783 2024 322,592 2025 — Thereafter — Total $ 2,149,976

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	NOTE 10 — SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the six months ended June 30, 2021 and 2020 are as follows (in thousands): Six Months Ended 2021 2020 Supplemental Disclosures of Non-Cash Distributions declared and unpaid $ 10,997 $ 4,990 Accrued capital expenditures $ 4,104 $ 139 Accrued deferred financing costs $ 32 $ — Real estate acquired via foreclosure $ 191,990 $ — Foreclosure of assets securing the mezzanine loans $ (79,968 ) $ — Mortgage notes payable assumed in connection with foreclosure of assets securing the mezzanine loans $ 102,553 $ — Change in interest income capitalized to loans held-for-investment $ (9,469 ) $ 539 Common stock issued through distribution reinvestment plan $ 6,660 $ 28,774 Change in fair value of derivative instruments $ 6,031 $ (7,280 ) Change in fair value of real estate-related securities $ 1,404 $ — Supplemental Cash Flow Disclosures: Interest paid $ 34,183 $ 30,686 Cash paid for taxes $ 1,412 $ 466	NOTE 10 — 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: Distributions declared and unpaid $ 10,969 $ 16,510 $ 16,518 Accrued capital expenditures $ 160 $ 1,165 $ 557 Interest income capitalized to loans held-for-investment $ 539 $ 8,546 $ 384 Common stock issued through distribution reinvestment plan $ 34,191 $ 82,388 $ 91,764 Common stock issued in connection with the Mergers $ 384,319 $ — $ — Change in fair value of interest rate swaps $ 727 $ (14,913 ) $ 3,875 Interest rate swaps assumed in the Mergers $ (9,115 ) $ — $ — Mortgage notes assumed by buyer in real estate disposition $ — $ (205,765 ) $ — Debt assumed in the Mergers $ 379,737 $ — $ — Real estate assets acquired in the Mergers $ 761,326 $ — $ — Assets assumed in the Mergers $ 4,424 $ — $ — Liabilities assumed in the Mergers $ 6,389 $ — $ — Supplemental Cash Flow Disclosures: Interest paid $ 60,990 $ 97,418 $ 93,424 Cash paid for taxes $ 1,243 $ 1,218 $ 1,475

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 11 — 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. Unfunded Commitments As of June 30, 2021, the Company had $108.3 million of unfunded commitments related to its existing CRE loans held-for-investment. Unsettled Broadly Syndicated Loans As of June 30, 2021, the Company had $43.2 million of unsettled broadly syndicated loan acquisitions, $ 35.1 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.	NOTE 11 — 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. Unfunded Commitments As of December 31, 2020, the Company had $169.1 million of unfunded commitments related to its existing CRE loans held-for-investment. These commitments are not reflected in the accompanying consolidated balance sheet. Unsettled Broadly Syndicated Loans As of December 31, 2020, the Company had $41.0 million of unsettled broadly syndicated loan acquisitions and $2.6 million of unsettled broadly syndicated loan sales, none of which settled subsequent to December 31, 2020. Unsettled acquisitions are included in cash and cash equivalents in the accompanying consolidated balance sheet. 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	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	NOTE 12 — RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred fees and expenses payable to CMFT Management and certain of its affiliates in connection with the acquisition, management and disposition of its assets. On August 20, 2019, the Company and CMFT Management entered into an Amended and Restated Management Agreement (the “Management Agreement”), which amended and restated that certain Advisory Agreement between the parties dated January 24, 2012, as amended (the “Prior Advisory Agreement”). Management and investment advisory fees The Company pays CMFT Management a management fee, payable quarterly in arrears, equal to the greater of (a) $250,000 per annum ($62,500 per quarter) and (b) 1.50% per annum (0.375% per quarter) of the Company’s Equity (as defined in the Management Agreement). CMFT Securities has an investment advisory and management agreement dated December 6, 2019 (the “Investment Advisory and Management Agreement”) with the Investment Advisor. CMFT Securities was formed for the purpose of holding any securities investments made by the Company. The Investment Advisor, a wholly-owned subsidiary of CIM, is registered as an investment advisor under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Pursuant to the Investment Advisory and Management Agreement, the Investment Advisor manages the day-to-day In addition, the Investment Advisor has a sub-advisory “Sub-Advisory “Sub-Advisor”) sub-advisor Sub-Advisor Sub-Advisor sub-advisory Incentive compensation CMFT Management is entitled to receive incentive compensation, payable with respect to each quarter, which is generally equal to the excess of (a) the product of (i) 20% and (ii) the excess of (A) Core Earnings (as defined in the Management Agreement) of the Company for the previous 12-month 12-month 12-month In addition, the Investment Advisor is eligible to receive a portion of the incentive compensation payable to CMFT Management pursuant to the Management Agreement. In the event that the incentive compensation is earned and payable with respect to any quarter, CMFT Management calculates the portion of the incentive compensation that was attributable to the Managed Assets and payable to the Investment Advisor. Pursuant to the Investment Advisory and Management Agreement, CMFT Securities reimburses the Investment Advisor for costs and expenses incurred by the Investment Advisor on its behalf. Expense reimbursements to related parties The Company reimburses CMFT Management or its affiliates for certain expenses CMFT Management or its affiliates paid or incurred in connection with the services provided to the Company. The Company will reimburse CMFT Management or its affiliates for salaries and benefits paid to personnel who provide services to the Company including the Company’s executive officers and any portfolio management, acquisitions or investment professionals. Disposition fees Pursuant to the Prior Advisory Agreement, through August 20, 2019, if CMFT Management or its affiliates provided a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of one or more properties (or the Company’s entire portfolio), the Company paid CMFT Management or its affiliates a disposition fee in an amount equal to up to one-half The Company recorded fees and expense reimbursements as shown in the table below for services provided by CMFT Management or its affiliates related to the services described above during the periods indicated (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Management fees $ 11,755 $ 9,750 $ 23,332 $ 19,600 Disposition fees $ — $ — $ — $ 341 Expense reimbursements to related parties $ 3,210 $ 3,057 $ 5,871 $ 5,235 Of the amounts shown above, $16.0 million and $13.8 million had been incurred, but not yet paid, for services provided by CMFT Management or its affiliates in connection with management and operating activities during the six months ended June 30, 2021 and 2020, respectively, and such amounts were recorded as liabilities of the Company as of such dates. Due to Affiliates As of June 30, 2021 and December 31, 2020, $16.0 million and $14.7 million, respectively, had been incurred primarily for management fees and operating expenses by CMFT Management or its affiliates, but had not yet been reimbursed by the Company. These amounts were included in due to affiliates in the condensed consolidated balance sheets for such periods. Development Management Agreements On January 7, 2021, the Company completed foreclosure proceedings to take control of the assets which previously secured its mezzanine loans, including 75 condominium units and 21 rental units across four buildings in New York. Upon foreclosure, and with the approval of the valuation, compensation and affiliate transactions committee of the Board, CIM NY Management, LLC, an affiliate of the Company’s manager CMFT Management, entered into a Development Management Agreement with the indirect wholly owned subsidiaries of the Company that own each of the four buildings (the “Building Owners”), wherein CIM NY Management, LLC will act as project manager in overseeing the development and construction of property improvements in accordance with each respective Development Management Agreement (the “Development Services”). In consideration for the Development Services, CIM NY Management, LLC will receive a development management fee from the Building Owners equal to 4% of the aggregate gross project costs expended during the term of the Development Management Agreement, subject to the conditions in each respective Development Management Agreement. Additionally, CIM NY Management, LLC is reimbursed by the Building Owners for expenses incurred in connection with the Development Services, including services provided that are incidental to but not part thereof the Development Services. The Development Management Agreement shall remain in effect until the project completion date, and is terminable by either party with fifteen days prior notice to the other party, with or without cause.	NOTE 12 — RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred fees and expenses payable to CMFT Management and certain of its affiliates in connection with the acquisition, management and disposition of its assets. On August 20, 2019, the Company and CMFT Management entered into an Amended and Restated Management Agreement (the “Management Agreement”), which amended and restated that certain Advisory Agreement between the parties dated January 24, 2012, as amended (the “Prior Advisory Agreement”). Following the effective date of the Management Agreement, CMFT Management is no longer entitled to receive the advisory fee, acquisition fees, subordinated performance fee, or disposition fees pursuant to the Prior Advisory Agreement, as described below; provided, however, that for the Company’s properties under contract to be sold or specifically identified in a broker agreement as being marketed for sale as of the effective date of the Management Agreement, CMFT Management may be entitled to receive a disposition fee in accordance with the terms of the Prior Advisory Agreement. In addition, CMFT Management generally shall continue to be entitled to reimbursement for costs and expenses to the extent incurred on behalf of the Company in accordance with the Management Agreement; provided, however, that the limits on reimbursement for organization and offering expenses, acquisition expenses and operating expenses as defined and provided in the Prior Advisory Agreement shall no longer be applicable. Management and investment advisory fees Pursuant to the Management Agreement, beginning on August 20, 2019, the Company pays CMFT Management a management fee, payable quarterly in arrears, equal to the greater of (a) $250,000 per annum ($62,500 per quarter) and (b) 1.50% per annum (0.375% per quarter) of the Company’s Equity (as defined in the Management Agreement). On December 6, 2019, CMFT Securities Investments, LLC (“CMFT Securities”), which is a wholly owned subsidiary of the Company, entered into an investment advisory and management agreement (the “Investment Advisory and Management Agreement”) with CIM Capital IC Management, LLC (the “Investment Advisor”). CMFT Securities was formed for the purpose of holding any securities investments made by the Company. The Investment Advisor, a wholly-owned subsidiary of CIM, is registered as an investment advisor under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Pursuant to the Investment Advisory and Management Agreement, the Investment Advisor manages the day-to-day business affairs of CMFT Securities and its investments in corporate credit and real estate- related securities (collectively, the “Managed Assets”), subject to the supervision of the Board. In connection with the services provided by the Investment Advisor, CMFT Securities pays the Investment Advisor an investment advisory fee (the “Investment Advisory Fee”), payable quarterly in arrears, equal to 1.50% per annum (0.375% per quarter) of CMFT Securities’ Equity (as defined in the Investment Advisory and Management Agreement). Because the Managed Assets are excluded from the calculation of management fees payable by the Company to CMFT Management pursuant to the Management Agreement, the total management and advisory fees payable by the Company to its external advisors are not increased as a result of the Investment Advisory and Management Agreement. In addition, on December 6, 2019, the Investment Advisor entered into a sub-advisory agreement (the “Sub-Advisory Agreement”) with OFS Capital Management, LLC (the “Sub-Advisor”) to act as an investment sub-advisor to CMFT Securities. The Sub-Advisor is registered as an investment adviser under the Advisers Act and is an affiliate of the Investment Advisor. The Sub-Advisor is responsible for providing investment management services with respect to the corporate credit-related securities held by CMFT Securities. On a quarterly basis, the Investment Advisor designates 50% of the sum of the Investment Advisory Fee and incentive compensation payable to the Investment Advisor as sub-advisory fees. Incentive compensation Pursuant to the Management Agreement, beginning on August 20, 2019, CMFT Management is entitled to receive incentive compensation, payable with respect to each quarter, which is generally equal to the excess of (a) the product of (i) 20% and (ii) the excess of (A) Core Earnings (as defined in the Management Agreement) of the Company for the previous 12-month period, over (B) the product of (1) the Company’s Consolidated Equity (as defined in the Management Agreement) in the previous 12-month period, and (2) 7% per annum, over (b) the sum of any incentive compensation paid to CMFT Management with respect to the first three calendar quarters of such previous 12-month period (or such lesser number of completed calendar quarters preceding the applicable period, if applicable). During the year ended December 31, 2020, no incentive compensation fees were incurred. In addition, the Investment Advisor is eligible to receive a portion of the incentive compensation payable to CMFT Management pursuant to the Management Agreement. In the event that the incentive compensation is earned and payable with respect to any quarter, CMFT Management calculates the portion of the incentive compensation that was attributable to the Managed Assets and payable to the Investment Advisor. Pursuant to the Investment Advisory and Management Agreement, CMFT Securities reimburses the Investment Advisor for costs and expenses incurred by the Investment Advisor on its behalf. Acquisition fees and expenses Pursuant to the Prior Advisory Agreement, through August 20, 2019, the Company paid CMFT Management or its affiliates acquisition fees of up to 2.0% of: (1) the contract purchase price of each property or asset the Company acquired; (2) the amount paid in respect of the development, construction or improvement of each asset the Company acquired; (3) the purchase price of any loan the Company acquired; and (4) the principal amount of any loan the Company originated. In addition, the Company reimbursed CMFT Management or its affiliates for acquisition-related expenses incurred in the process of acquiring properties, so long as the total acquisition fees and expenses relating to the transaction do not exceed 6.0% of the contract purchase price, unless otherwise approved by a majority of the Board, including a majority of the Company’s independent directors, as commercially competitive, fair and reasonable to the Company. Other transaction-related expenses, such as advisor reimbursements for disposition activities, are expensed as incurred and are included in transaction-related expenses on the consolidated statements of operations. Advisory fees and expenses Pursuant to the Prior Advisory Agreement, through August 20, 2019, the Company paid CMFT Management a monthly advisory fee based upon the Company’s monthly average invested assets, which, effective January 1, 2019, was based on the estimated market value of such assets used to determine the Company’s estimated per share NAV as of December 31, 2018, and for those assets acquired subsequent to December 31, 2018, was based on the purchase price. The monthly advisory fee was equal to the following amounts: (1) an annualized rate of 0.75% paid on the Company’s average invested assets that are between $0 and $2.0 billion; (2) an annualized rate of 0.70% paid on the Company’s average invested assets that are between $2.0 billion and $4.0 billion; and (3) an annualized rate of 0.65% paid on the Company’s average invested assets that are over $ 4.0 Operating expenses The Company reimburses CMFT Management or its affiliates for certain expenses CMFT Management or its affiliates paid or incurred in connection with the services provided to the Company. Through August 20, 2019, such reimbursements were subject to the limitation that the Company would not reimburse CMFT Management or its affiliates for any amount by which the operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceeded the greater of: (1) 2.0% of average invested assets, or (2) 25.0% of net income excluding any additions to reserves for depreciation or other similar non-cash reserves and excluding any gain from the sale of assets for that period. Pursuant to the Management Agreement, beginning on August 20, 2019, such limits are no longer applicable. The Company will reimburse CMFT Management or its affiliates for salaries and benefits paid to personnel who provide services to the Company including the Company’s executive officers and any portfolio management, acquisitions or investment professionals. Disposition fees Pursuant to the Prior Advisory Agreement, through August 20, 2019, if CMFT Management or its affiliates provided a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of one or more properties (or the Company’s entire portfolio), the Company paid CMFT Management or its affiliates a disposition fee in an amount equal to up to one-half of the real estate or brokerage commission paid by the Company to third parties on the sale of such property, not to exceed 1.0% of the contract price of the property sold; provided, however, in no event would the total disposition fees paid to CMFT Management, its affiliates and unaffiliated third parties exceed the lesser of the customary competitive real estate commission or an amount equal to 6.0% of the contract sales price. For the Company’s properties under contract to be sold or specifically identified in a broker agreement as being marketed for sale as of August 20, 2019, CMFT Management may be entitled to receive a disposition fee in accordance with the terms of the Prior Advisory Agreement. Subordinated performance fees Pursuant to the Prior Advisory Agreement, through August 20, 2019, if the Company was sold or its assets were liquidated, CMFT Management was entitled to receive a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after stockholders received, from regular distributions plus special distributions paid from proceeds of such sale, a return of their net capital invested and an 8.0% annual cumulative, non-compounded return. Alternatively through August 20, 2019, if the Company’s shares were listed on a national securities exchange, CMFT Management was entitled to a subordinated performance fee equal to 15.0% of the amount by which the market value of the Company’s outstanding stock plus all distributions paid by the Company prior to listing, exceeded the sum of the total amount of capital raised from stockholders and the amount of distributions necessary to generate an 8.0% annual cumulative, non-compounded return to stockholders. As an additional alternative, upon termination of the Prior Advisory Agreement, CMFT Management was entitled to a subordinated performance fee similar to the fee to which CMFT Management would have been entitled had the portfolio been liquidated (based on an independent appraised value of the portfolio) on the date of termination. During each of the years ended December 31, 2020, 2019 and 2018, no subordinated performance fees were incurred related to any such events. The Company recorded fees and expense reimbursements as shown in the table below for services provided by CMFT Management or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2020 2019 2018 Management fees and expenses $ 44,744 $ 16,350 (1) $ — Acquisition fees and expenses $ 550 $ 2,110 $ 2,749 Disposition fees $ 434 $ 3,967 $ 478 Advisory fees and expenses $ — $ 25,989 $ 43,399 Operating expenses $ 3,651 (2) $ 3,594 $ 5,163 (1) Includes manager reimbursements incurred subject to the Management Agreement. (2) Includes $308,000 of merger-related expenses incurred subject to the Merger Agreements and the terminated CCIT II Merger Agreement, net of $260,000 which was reimbursed by CCIT II. Of the amounts shown above, $14.7 million and $14.5 million had been incurred, but not yet paid, for services provided by CMFT Management or its affiliates in connection with the management and operating activities during the years ended December 31, 2020 and 2019, respectively, and such amounts were recorded as liabilities of the Company as of such dates. Due to Affiliates As of December 31, 2020 and 2019, $14.7 million and $14.5 million, respectively, had been incurred primarily for operating expenses by CMFT Management or its affiliates, but had not yet been reimbursed by the Company. These amounts were included in due to affiliates in the consolidated balance sheets for such periods.

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	NOTE 13 — ECONOMIC DEPENDENCY Under various agreements, the Company has engaged and may in the future engage CMFT 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, 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 CMFT 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.	NOTE 13 — ECONOMIC DEPENDENCY Under various agreements, the Company has engaged and may in the future engage CMFT 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, 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 CMFT 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	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 14 — STOCKHOLDERS’ EQUITY Equity-Based Compensation On August 10, 2018, the Board approved the adoption of the Company’s 2018 Equity Incentive Plan (the “Plan”), under which 400,000 of the Company’s shares of common stock were reserved for issuance and awards of approximately 341,000 shares of common stock are available for future grant at June 30, 2021. Under the Plan, the Board or a committee designated by the Board has the authority to grant restricted stock awards or deferred stock awards to non-employee As of June 30, 2021, the Company has granted awards of approximately 58,700 restricted shares to the independent members of the Board under the Plan. As of June 30, 2021, 32,500 of the restricted shares had vested based on one year of continuous service. The remaining 26,200 restricted shares issued had not vested or been forfeited as of June 30, 2021. The fair value of the Company’s share awards is determined using the Company’s per share NAV on the date of grant. Compensation expense related to the restricted shares is recognized over the vesting period. The Company recorded compensation expense of $49,000 and $89,000 for the three and six months ended June 30, 2021, respectively, and $40,000 and $80,000 for the three and six months ended June 30, 2020, respectively, related to the restricted shares, which is included in general and administrative expenses in the accompanying condensed consolidated statements of operations. As of June 30, 2021, there was $57,000 of total unrecognized compensation expense related to these restricted shares, which will be recognized ratably over the applicable remaining period of service.	NOTE 14 — STOCKHOLDERS’ EQUITY As of December 31, 2020, 2019 and 2018, the Company was authorized to issue $600.0 million of shares of common stock under the Secondary DRIP Offering. All shares of such stock have a par value of $0.01 per share. The par value of stockholder proceeds raised from the DRIP Offerings is classified as common stock, with the remainder allocated to capital in excess of par value. On August 11, 2010, the Company sold 20,000 shares of common stock, at $10.00 per share, to Cole Holdings Corporation (“CHC”). On April 5, 2013, the ownership of such shares was transferred to CREInvestments, LLC, an affiliate of CMFT Management. On February 7, 2014, the ownership of such shares was transferred to VEREIT Operating Partnership, L.P. (“VEREIT OP”), a former affiliated entity of the Company’s sponsor. On February 1, 2018, the ownership of such shares was transferred by VEREIT OP to CMFT Management. On December 21, 2020, in connection with the consummation of the Mergers, the Company issued 52.6 million shares of common stock for consideration of $7.31 per share. Distribution Reinvestment Plan Pursuant to the Amended DRIP, the Company allows stockholders to elect to have their distributions reinvested in additional shares of the Company’s common stock at the most recent estimated per share NAV as determined by the Board. The Board may terminate or amend the Secondary DRIP Offering at the Company’s discretion at any time upon ten days’ prior written notice to the stockholders. In connection with the Mergers, on August 30, 2020, the Board approved the suspension of the Amended DRIP, and, therefore, distributions paid after that date were paid in cash to all stockholders until the Amended DRIP was reinstated, effective April 1, 2021, by the Board on March 25, 2021. During the years ended December 31, 2020, 2019 and 2018, approximately 4.2 million, 9.3 million and 9.6 million shares were purchased under the DRIP Offerings for approximately $34.2 million, $82.4 million and $91.8 million, respectively, which were recorded as redeemable common stock on the consolidated balance sheets prior to the suspension of the Amended Share Redemption Program. Share Redemption Program The Company’s Amended Share Redemption Program permits its stockholders to sell their shares back to the Company after they have held them for at least one year, subject to the significant conditions and limitations described below. The Amended Share Redemption Program provides that the Company will redeem shares of its common stock from requesting stockholders, subject to the terms and conditions of the Amended Share Redemption Program. The Company will limit the number of shares redeemed pursuant to the Amended Share Redemption Program as follows: (1) the Company will not redeem in excess of 5% of the weighted average number of shares outstanding during the trailing 12 months prior to the end of the fiscal quarter for which the redemptions are being paid; and (2) funding for the redemption of shares will be limited, among other things, to the net proceeds the Company receives from the sale of shares under the DRIP Offerings, net of shares redeemed to date. In an effort to accommodate redemption requests throughout the calendar year, the Company intends to limit quarterly redemptions to approximately 1.25% of the weighted average number of shares outstanding during the trailing 12-month Except for redemptions due to a stockholder’s death, bankruptcy or other exigent circumstances, the redemption price per share will equal the per share value shown on the stockholder’s most recent customer account statement. The redemption price will be adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to the Company’s common stock if any such event is not already reflected in the per share value shown on the stockholder’s most recent customer account statement. Upon receipt of a request for redemption, the Company may conduct a Uniform Commercial Code search to ensure that no liens are held against the shares. If the Company cannot purchase all shares presented for redemption in any fiscal quarter, based upon insufficient cash available and/or the limit on the number of shares the Company may redeem during any quarter or year, the Company will give priority to the redemption of deceased stockholders’ shares. The Company next will give priority to requests for full redemption of accounts with a balance of 250 shares or less at the time the Company receives the request, in order to reduce the expense of maintaining small accounts. Thereafter, the Company will honor the remaining quarterly redemption requests on a pro rata basis. Following such quarterly redemption period, the unsatisfied portion of the prior redemption request must be resubmitted, prior to the last day of the new quarter. Unfulfilled requests for redemption will not be carried over automatically to subsequent redemption periods. The Company redeems shares no later than the end of the month following the end of each fiscal quarter. Requests for redemption must be received on or prior to the end of the fiscal quarter in order for the Company to repurchase the shares in the month following the end of that fiscal quarter. The Board may amend, suspend or terminate the Amended Share Redemption Program at any time upon 30 days’ prior written notice to the stockholders. In connection with the Mergers, the Board approved the suspension of the Company’s Amended Share Redemption Program on August 30, 2020, and, therefore, no shares were redeemed from the Company’s stockholders after that date until the Amended Share Redemption Program was reinstated, effective April 1, 2021, by the Board on March 25, 2021. During the years ended December 31, 2020, 2019 and 2018, the Company redeemed approximately 6.0 million, 9.5 million and 9.8 million shares, respectively, under the share redemption program then in effect for $48.1 million, $84.1 million and $93.8 million, respectively. During the year ended December 31, 2020, redemption requests relating to approximately 44.5 million shares went unfulfilled. Distributions Payable and Distribution Policy Prior to April 1, 2020, on a quarterly basis, the Board authorized a daily distribution for the succeeding quarter. The Board authorized the following daily distribution amounts per share for the periods indicated below: Period Commencing Period Ending Daily Distribution Amount April 14, 2012 December 31, 2012 $0.001707848 January 1, 2013 December 31, 2015 $0.001712523 January 1, 2016 December 31, 2016 $0.001706776 January 1, 2017 December 31, 2019 $0.001711452 January 1, 2020 March 31, 2020 $0.001706776 On April 20, 2020, the Board decided to make a determination as to the amount and timing of distributions on a monthly, instead of a quarterly, basis until such time that the Company has greater visibility into the impact that the COVID-19 Record Date Distribution Amount April 30, 2020 $0.0130 May 31, 2020 $0.0130 June 30, 2020 $0.0161 July 30, 2020 $0.0304 August 28, 2020 $0.0303 September 29, 2020 $0.0303 October 29, 2020 $0.0303 November 27, 2020 $0.0303 December 30, 2020 $0.0303 January 28, 2021 $0.0303 February 25, 2021 $0.0303 March 29, 2021 $0.0303 April 29 2021 $0.0303 May 28, 2021 $0.0303 June 29, 2021 $0.0303 As of December 31, 2020, the Company had distributions payable of $11.0 million. Equity-Based Compensation On August 10, 2018, the Board approved the adoption of the Company’s 2018 Equity Incentive Plan (the “Plan”), under which 400,000 of the Company’s shares of common stock were reserved for issuance and awards of approximately 345,000 shares of common stock are available for future grant at December 31, 2020. Under the Plan, the Board or a committee designated by the Board has the authority to grant restricted stock awards or deferred stock awards to non-employee As of December 31, 2020, the Company has granted awards of approximately 11,000 restricted shares to each of the independent members of the Board (approximately 54,500 restricted shares in aggregate) under the Plan. As of December 31, 2020, 32,500 of the restricted shares had vested based on one year of continuous service. The remaining 22,000 restricted shares issued had not vested or been forfeited as of December 31, 2020. The fair value of the Company’s share awards is determined using the Company’s per share NAV on the date of grant. Compensation expense related to the restricted shares is recognized over the vesting period. The Company recorded compensation expense of $160,000 and $138,000 for the years ended December 31, 2020 and 2019, respectively, related to the restricted shares which is included in general and administrative expenses in the accompanying consolidated statements of operations. As of December 31, 2020, there was $121,000 of total unrecognized compensation expense related to these restricted shares, which will be recognized ratably over the remaining period of service prior to October 2021.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 15 — 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 — % 39 % 52 % Nondividend distributions 100 % 7 % 48 % Capital gain distributions — % 54 % — % 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 $568,000, $1.5 million, and $1.4 million, respectively, which were recorded in general and administrative expenses in the consolidated statements of operations. The Company had no unrecognized tax benefits as of or during the years ended December 31, 2020 and 2019. 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	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
LEASES	NOTE 15 — LEASES The 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- Non-lease Non-lease As of June 30, 2021, the Company’s leases had a weighted-average remaining term of 8.3 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 June 30, 2021, the future minimum rental income from the Company’s real estate assets under non-cancelable Future Minimum Rental Income Remainder of 2021 $ 118,547 2022 234,443 2023 218,823 2024 200,270 2025 181,734 Thereafter 1,125,513 Total $ 2,079,330 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 three and six months ended June 30, 2021 and 2020, the amount of the contingent rent earned by the Company was not significant. Rental and other property income during the three and six months ended June 30, 2021 and 2020 consisted of the following (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Fixed rental and other property income (1) $ 64,060 $ 51,423 $ 130,601 $ 108,096 Variable rental and other property income (2) 11,242 8,680 21,631 20,443 Total rental and other property income $ 75,302 $ 60,103 $ 152,232 $ 128,539 (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. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent. The Company has one property subject to a non-cancelable	NOTE 16 — LEASES The 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 Non-lease Non-lease As of December 31, 2020, the Company’s leases had a weighted-average remaining term of 8.8 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 Year Ending December 31, Future Minimum Rental Income 2021 $ 255,071 2022 249,576 2023 232,486 2024 212,373 2025 192,954 Thereafter 1,242,601 Total $ 2,385,061 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, 2019 and 2018, 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) $ 221,445 $ 342,453 $ 368,847 Variable rental and other property income (2) 40,085 50,771 60,789 Total rental and other property income $ 261,530 $ 393,224 $ 429,636 (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. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent. The Company has one property subject to a non-cancelable prepaid expenses, derivative assets and other assets The Company recognized $250,000 of ground lease expense during the year ended December 31, 2020, of which $242,000 was paid in cash during the period it was recognized. As of December 31, 2020, the Company’s scheduled future minimum rental payments related to its operating ground lease is approximately $250,000 annually for 2021 through 2025, and $1.9 million thereafter through the maturity date of the lease in August 2033.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 16 — SEGMENT REPORTING The Company has two reportable segments: real estate and credit. Corporate/other represents all corporate level and unallocated items and includes the Company’s other asset management activities and operating expenses. There were no changes in the structure of the Company’s internal organization that prompted the change in reportable segments. Prior period amounts have been revised to conform to the current year presentation shown below. The following tables present segment reporting for the three and six months ended June 30, 2021 and 2020 (in thousands): Real Estate Credit Corporate/Other (1) Company Total Three Months Ended June 30, 2021 Rental and other property income $ 75,203 $ — $ 99 $ 75,302 Interest income — 16,460 — 16,460 Total revenues 75,203 16,460 99 91,762 General and administrative 55 331 3,219 3,605 Property operating 7,613 — 3,743 11,356 Real estate tax 7,196 — 510 7,706 Expense reimbursements to related parties — — 3,210 3,210 Management fees 8,533 3,222 — 11,755 Transaction-related 27 — — 27 Depreciation and amortization 24,647 — — 24,647 Real estate impairment 77 — — 77 Provision for credit losses — 123 — 123 Total operating expenses 48,148 3,676 10,682 62,506 Gain on disposition of real estate and condominium developments, net 44,976 — 1,493 46,469 Operating income (loss) 72,031 12,784 (9,090 ) 75,725 Other expense: Interest expense and other, net (3,713 ) (3,341 ) (9,406 ) (16,460 ) Loss on extinguishment of debt (1,372 ) — (106 ) (1,478 ) Segment net income (loss) $ 66,946 $ 9,443 $ (18,602 ) $ 57,787 Total assets as of June 30, 2021 $ 3,089,744 $ 1,479,061 $ 280,357 $ 4,849,162 (1) Includes condominium and rental units acquired via foreclosure during the six months ended June 30, 2021. During the year ended December 31, 2019, the borrower on the Company’s eight mezzanine loans became delinquent on certain required reserve payments. Throughout 2020, the borrower remained delinquent on the required reserve payments and became delinquent on principal and interest. As a result, the Company classified the loans as a troubled debt restructuring and commenced foreclosure proceedings. Upon completing foreclosure in January 2021, the Company took control of the assets which previously secured its mezzanine loans. Real Estate Credit Corporate/Other (1) Company Total Six Months Ended June 30, 2021 Rental and other property income $ 151,998 $ — $ 234 $ 152,232 Interest income — 28,413 — 28,413 Total revenues 151,998 28,413 234 180,645 General and administrative 119 713 7,201 8,033 Property operating 14,742 — 6,733 21,475 Real estate tax 15,065 — 4,860 19,925 Expense reimbursements to related parties — — 5,871 5,871 Management fees 17,864 5,468 — 23,332 Transaction-related 31 — — 31 Depreciation and amortization 50,385 — — 50,385 Real estate impairment 4,377 — — 4,377 Provision for credit losses — 691 — 691 Total operating expenses 102,583 6,872 24,665 134,120 Gain on disposition of real estate and condominium developments, net 44,976 — 1,493 46,469 Operating income (loss) 94,391 21,541 (22,938) 92,994 Other expense: Interest expense and other, net (7,829) (6,888) (21,765) (36,482) Loss on extinguishment of debt (1,372) — (106) (1,478) Segment net income (loss) $ 85,190 $ 14,653 $ (44,809) $ 55,034 Total assets as of June 30, 2021 $ 3,089,744 $ 1,479,061 $ 280,357 $ 4,849,162 (1) Includes condominium and rental units acquired via foreclosure during the six months ended June 30, 2021. During the year ended December 31, 2019, the borrower on the Company’s eight mezzanine loans became delinquent on certain required reserve payments. Throughout 2020, the borrower remained delinquent on the required reserve payments and became delinquent on principal and interest. As a result, the Company classified the loans as a troubled debt restructuring and commenced foreclosure proceedings. Upon completing foreclosure in January 2021, The Company took control of the assets which previously secured its mezzanine loans. Real Estate Credit Corporate/Other Company Total Three Months Ended June 30, 2020 Rental and other property income $ 60,103 $ — $ — $ 60,103 Interest income — 7,193 — 7,193 Total revenues 60,103 7,193 — 67,296 General and administrative 55 512 2,453 3,020 Property operating 4,811 — — 4,811 Real estate tax 6,748 — — 6,748 Expense reimbursements to related parties — — 3,057 3,057 Management fees 8,042 1,708 — 9,750 Transaction-related 120 5 — 125 Depreciation and amortization 19,696 — — 19,696 Real estate impairment 3,831 — — 3,831 Provision for credit losses — 7,905 — 7,905 Total operating expenses 43,303 10,130 5,510 58,943 Gain on disposition of real estate, net 3,791 — — 3,791 Merger-related expenses, net — — — — Merger termination fee income — — — — Operating income (loss) 20,591 (2,937 ) (5,510 ) 12,144 Other expense: Interest expense and other, net (5,560 ) (762 ) (9,198 ) (15,520 ) Loss on extinguishment of debt (12 ) — (358 ) (370 ) Segment net income (loss) $ 15,019 $ (3,699 ) $ (15,066 ) $ (3,746 ) Total assets as of June 30, 2020 $ 2,712,707 $ 708,084 $ 243,544 $ 3,664,335 Real Estate Credit Corporate/Other Company Total Six Months Ended June 30, 2020 Rental and other property income $ 128,539 $ — $ — $ 128,539 Interest income — 12,764 — 12,764 Total revenues 128,539 12,764 — 141,303 General and administrative 117 524 5,261 5,902 Property operating 11,676 — — 11,676 Real estate tax 13,726 — — 13,726 Expense reimbursements to related parties — — 5,235 5,235 Management fees 17,523 2,077 — 19,600 Transaction-related 245 5 — 250 Depreciation and amortization 40,519 — — 40,519 Real estate impairment 15,507 — — 15,507 Provision for credit losses — 25,682 — 25,682 Total operating expenses 99,313 28,288 10,496 138,097 Gain on disposition of real estate, net 16,901 — — 16,901 Operating income (loss) 46,127 (15,524 ) (10,496 ) 20,107 Other expense: Interest expense and other, net (11,895 ) (562 ) (18,819 ) (31,276 ) Loss on extinguishment of debt (4,394 ) — (358 ) (4,752 ) Segment net income (loss) $ 29,838 $ (16,086 ) $ (29,673 ) $ (15,921 ) Total assets as of June 30, 2020 $ 2,712,707 $ 708,084 $ 243,544 $ 3,664,335	NOTE 17 — SEGMENT REPORTING As of December 31, 2020, the Company determined that it has two reportable segments: real estate and credit. Corporate/other represents all corporate level and unallocated items and includes the Company’s other asset management activities and operating expenses. There were no changes in the structure of the Company’s internal organization that prompted the change in reportable segments. Prior period amounts have been revised to conform to the current year presentation shown below. The following tables present segment reporting for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 Real Estate Credit Corporate/Other Company Total Rental and other property income $ 261,530 $ — $ — $ 261,530 Interest income — 29,393 — 29,393 Total revenues 261,530 29,393 — 290,923 General and administrative 291 2,080 13,014 15,385 Property operating 23,399 — — 23,399 Real estate tax 27,691 — — 27,691 Management and advisory fees and expenses 32,164 7,861 4,718 44,743 Transaction-related 346 9 550 905 Depreciation and amortization 80,973 — — 80,973 Impairment 16,737 — — 16,737 Provision for credit losses — 68,356 — 68,356 Total operating expenses 181,601 78,306 18,282 278,189 Gain on disposition of real estate, net 27,518 — — 27,518 Merger-related expenses — — (2,193 ) (2,193 ) Merger termination fee income — — 7,380 7,380 Operating income (loss) 107,447 (48,913 ) (13,095 ) 45,439 Other expense: Interest expense and other, net (21,380 ) (5,101 ) (37,635 ) (64,116 ) Loss on extinguishment of debt (4,394 ) — (447 ) (4,841 ) Segment net income (loss) $ 81,673 $ (54,014 ) $ (51,177 ) $ (23,518 ) Total assets as of December 31, 2020 $ 3,405,590 $ 949,764 $ 104,255 $ 4,459,609 Year Ended December 31, 2019 Real Estate Credit Corporate/Other Company Total Rental and other property income $ 393,224 $ — $ — $ 393,224 Interest income — 20,132 — 20,132 Total revenues 393,224 20,132 — 413,356 General and administrative 428 10 13,291 13,729 Property operating 33,462 — — 33,462 Real estate tax 32,196 — — 32,196 Management and advisory fees and expenses 35,557 1,688 5,094 42,339 Transaction-related 288 1,242 748 2,278 Depreciation and amortization 107,867 — — 107,867 Impairment 72,939 — — 72,939 Total operating expenses 282,737 2,940 19,133 304,810 Gain on disposition of real estate, net 180,666 — — 180,666 Operating income (loss) 291,153 17,192 (19,133 ) 289,212 Other expense: Interest expense and other, net (45,606 ) (19 ) (53,340 ) (98,965 ) Loss on extinguishment of debt (6,482 ) — (745 ) (7,227 ) Segment net income (loss) 239,065 17,173 (73,218 ) 183,020 Segment net income (loss) attributable to non-controlling 121 — — 121 Segment net income (loss) attributable to the Company $ 238,944 $ 17,173 $ (73,218 ) $ 182,899 Total assets as of December 31, 2019 $ 2,895,609 $ 551,805 $ 221,209 $ 3,668,623 Year Ended December 31, 2018 Real Estate Credit Corporate/Other Company Total Rental and other property income $ 429,636 $ — $ — $ 429,636 Interest income — 1,640 — 1,640 Total revenues 429,636 1,640 — 431,276 General and administrative 502 — 13,625 14,127 Property operating 30,267 — — 30,267 Real estate tax 37,898 — — 37,898 Management and advisory fees and expenses 38,032 53 5,314 43,399 Transaction-related 85 1,786 730 2,601 Depreciation and amortization 140,979 — — 140,979 Impairment 32,975 — — 32,975 Total operating expenses 280,738 1,839 19,669 302,246 Gain on disposition of real estate, net 6,299 — — 6,299 Operating income (loss) 155,197 (199 ) (19,669 ) 135,329 Other expense: Interest expense and other, net (49,458 ) — (48,413 ) (97,871 ) Loss on extinguishment of debt (46 ) — — (46 ) Segment net income (loss) 105,693 (199 ) (68,082 ) 37,412 Segment net income (loss) attributable to non-controlling 134 — — 134 Segment net income (loss) attributable to the Company $ 105,559 $ (199 ) $ (68,082 ) $ 37,278 Total assets as of December 31, 2018 $ 4,502,999 $ 90,788 $ 23,584 $ 4,617,371

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	NOTE 18 — 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) . December 31, 2020 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 74,007 $ 67,296 $ 72,642 $ 76,978 Net (loss) income $ (12,175 ) $ (3,746 ) $ 4,179 $ (11,776 ) Basic and diluted net (loss) income per common share (1) $ (0.04 ) $ (0.01 ) $ 0.01 $ (0.04 ) (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 $ 109,260 $ 105,529 $ 105,479 $ 93,088 Net income $ 8,851 $ 9,006 $ 2,573 $ 162,590 Net income attributable to the Company $ 8,817 $ 8,973 $ 2,541 $ 162,568 Basic and diluted net income per common share (1) $ 0.03 $ 0.03 $ 0.01 $ 0.52 (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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 17 — SUBSEQUENT EVENTS The following events occurred subsequent to June 30, 2021: Redemptions of Shares of Common Stock Subsequent to June 30, 2021, the Company redeemed approximately 1.7 million shares for $12.0 million (at a redemption price of $7.20 per share). The remaining redemption requests relating to approximately 31.1 million shares went unfulfilled. Property Dispositions Subsequent to June 30, 2021, the Company disposed of 61 properties for an aggregate gross sales price of $118.8 million, resulting in net proceeds of $115.5 million after closing costs and a net gain of approximately $27.0 million. The Company has no continuing involvement with these properties. Broadly Syndicated Loans Subsequent to June 30, 2021, the Company settled $62.3 million of broadly syndicated loan transactions, $28.5 million of which were traded as of June 30, 2021. CRE Loans Subsequent to June 30, 2021, the Company received a principal repayment of $99.6 million in connection with the partial release and modification of one CRE senior loan financed under the Barclays Repurchase Facility. The Company used the proceeds to repay amounts on the Barclays Repurchase Facility, as discussed below under Repurchase Facilities. Derivative Instruments and Notes Payable Subsequent to June 30, 2021, one of the Company’s interest rate swap agreements matured and the Company repaid in full $21.5 million of the underlying mortgage notes payable. Additionally, in connection with the origination of the Mortgage Loan (as defined below), the Company terminated two interest rate swap agreements and paid down the $220.0 million outstanding balance under the CCPT V Credit Facility. Credit and Security Agreement Subsequent to June 30, 2021, the Company received borrowings in an aggregate principal amount of $50.0 million under the Credit and Security Agreement. Repurchase Facilities Subsequent to June 30, 2021, the Company entered into an amendment to the Barclay’s Repurchase Agreement, pursuant to which the maturity date of the Barclays Repurchase Facility was extended to September 21, 2024. Additionally, the Company repaid $66.4 million of the Barclays Repurchase Facility. First Lien Mortgage Loan Subsequent to June 30, 2021, JPMorgan Chase and DBR Investments Co. Limited originated a $650.0 million first lien mortgage loan (the “Mortgage Loan”) to 114 single purpose entities, each of which is a wholly-owned subsidiary of the Company and are managed on a day-to-day Net-Lease Subsequent to June 30, 2021, the Company issued $774.0 million aggregate principal amount of Net-Lease 2021-1 Credit Facilities and Notes Payable Subsequent to June 30, 2021, and with the proceeds from the Mortgage Loan and the sale of the Class A Notes, the Company repaid fixed-rate debt of $104.1 million, paid down the $1.11 billion outstanding balance under the Credit Facilities and terminated the CCPT V Credit Facility and the CMFT Credit Facility.	NOTE 19 — SUBSEQUENT EVENTS Distribution Reinvestment Plan and Share Redemption Program On March 25, 2021, the Board reinstated the Amended DRIP and Amended Share Redemption Program, effective April 1, 2021. Property Disposition Subsequent to December 31, 2020, the Company disposed of one property for an aggregate gross sales price of $3.7 million, resulting in net proceeds of $3.5 million after closing costs. The Company has no continuing involvement with this property. Foreclosure of Mezzanine Loans On January 7, 2021, the Company completed foreclosure proceedings to take control of the assets securing its mezzanine loans, which are comprised of 75 condominium units and 21 rental units across four buildings totaling approximately 164,000 square feet. Broadly Syndicated Loans Subsequent to December 31, 2020, the Company settled $37.4 million of net broadly syndicated loan transactions that were traded subsequent to December 31, 2020. Repurchase Facilities Subsequent to December 31, 2020, the Company received borrowings under the Repurchase Facilities in an aggregate amount of $122.3 million. Advances under the Repurchase Agreements accrue interest at per annum rates based on the one-month LIBOR, plus a spread to be determined on a case-by-case CMBS Purchase Subsequent to December 31, 2020, the Company invested $28.5 million in CMBS.

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	Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Real Estate Held for Investment the Company has Invested in Under Operating Leases: 10 Box Cost Plus: Conway, AR (h ) $ 733 $ 1,654 $ — $ 2,387 $ 170 9/5/2017 1989 Russellville, AR (h ) 990 1,470 — 2,460 177 3/20/2017 1989 Aaron’s Rents: Arkadelphia, AR $ — 183 491 — 674 1 12/21/2020 2014 Academy Sports: Cartersville, GA — 4,517 4,574 — 9,091 7 12/21/2020 2014 Cookeville, TN (h ) — 23,847 73,371 97,218 11,933 9/30/2014 2015 Greenville, NC (h ) 1,968 7,054 — 9,022 847 1/12/2017 2016 McDonough, GA (h ) 1,846 5,626 — 7,472 1,047 4/24/2014 2010 Valdosta, GA 5,838 2,482 5,922 — 8,404 1,343 5/10/2013 2012 Actuant Campus: Columbus, WI — 2,090 14,633 — 16,723 19 12/21/2020 2014 Advance Auto Parts: Fairmont, NC — 253 868 — 1,121 1 12/21/2020 2004 Hampton,VA — 645 655 — 1,300 1 12/21/2020 2015 Mattoon, IL (h ) 261 1,063 — 1,324 134 12/4/2015 2015 Stratford,CT — 755 1,736 — 2,491 2 12/21/2020 1994 Willmar, MN (h ) 200 1,279 — 1,479 187 3/25/2015 2014 Albany Square: Albany, GA 4,600 1,606 7,113 373 9,092 1,610 2/26/2014 2013 Almeda Crossing: Houston, TX (h ) 4,738 26,245 (8,732 ) 22,251 415 8/7/2014 2006 Aspen Dental: Rogers,AR — 289 1,611 — 1,900 2 12/21/2020 2015 At Home: Pearland, TX — 3,663 10,305 — 13,968 14 12/21/2020 1994 AutoZone: Sheffield, OH (h ) 815 — 770 1,585 125 10/15/2014 2014 Bass Pro Shop: Portage, IN — 1,428 8,414 — 9,842 14 12/21/2020 1983 Tallahassee, FL (h ) 945 5,713 — 6,658 1,190 8/20/2013 2013 Beavercreek Shopping Center: Beavercreek, OH (h ) 5,504 25,178 554 31,236 5,130 10/31/2013 2013 Becton, Dickinson and Company: Broken Bow, NE (h ) 244 1,733 — 1,977 333 6/19/2014 2007 Bed Bath & Beyond/Golf Smith: Schaumburg, IL 7,300 4,786 6,149 (1,065 ) 9,870 458 3/8/2013 1997 BJ’s Wholesale Club: Fort Myers, FL — 5,331 21,692 — 27,023 25 12/21/2020 2018 Roanoke, VA — 4,509 14,545 — 19,054 49 11/25/2020 2018 Blankenbaker Plaza: Louisville, KY — 4,861 10,497 — 15,358 16 12/21/2020 2007 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Bob Evans: Akron, OH (h ) $ 447 $ 1,537 $ — $ 1,984 $ 176 4/28/2017 2007 Anderson, IN (h ) 912 1,455 — 2,367 170 4/28/2017 1984 Austintown, OH (h ) 305 1,426 — 1,731 176 4/28/2017 1995 Birch Run, MI (h ) 733 1,192 — 1,925 143 4/28/2017 2008 Blue Ash, OH (h ) 628 1,429 — 2,057 190 4/28/2017 1994 Chardon, OH (h ) 333 682 — 1,015 89 4/28/2017 2003 Chillicothe, OH (h ) 557 1,524 — 2,081 182 4/28/2017 1998 Columbus, OH (h ) 523 1,376 — 1,899 170 4/28/2017 2003 Dayton, OH (h ) 325 1,438 — 1,763 182 4/28/2017 1998 Florence, KY (h ) 496 1,876 — 2,372 232 4/28/2017 1991 Gallipolis, OH $ — 529 2,963 — 3,492 3 12/21/2020 2003 Hagerstown, MD — 490 2,789 — 3,279 3 12/21/2020 1989 Holland, MI (h ) 314 1,367 — 1,681 168 4/28/2017 2004 Huntersville, NC (h ) 751 657 — 1,408 78 4/28/2017 2008 Hurricane, WV (h ) 297 1,654 — 1,951 185 4/28/2017 1993 Mansfield, OH — 495 2,423 — 2,918 3 12/21/2020 2004 Milford, OH (h ) 271 1,498 — 1,769 186 4/28/2017 1987 Monroe, MI — 623 2,177 — 2,800 3 12/21/2020 1998 Monroeville, PA (h ) 1,340 848 — 2,188 96 4/28/2017 1995 Nicholasville, KY (h ) 731 693 — 1,424 80 4/28/2017 1989 North Canton, OH (h ) 859 1,393 — 2,252 172 4/28/2017 2006 Northwood, OH — 514 2,760 — 3,274 3 12/21/2020 1998 Peoria, IL — 620 524 — 1,144 1 12/21/2020 1995 Piqua, OH — 413 2,187 — 2,600 3 12/21/2020 1989 Ripley, WV (h ) 269 1,304 — 1,573 156 4/28/2017 1988 Tipp City, OH (h ) 554 1,120 — 1,674 142 4/28/2017 1989 Warsaw, IN (h ) 684 1,222 — 1,906 145 4/28/2017 1993 Boston Commons: Springfield, MA (h ) 3,101 7,042 280 10,423 1,292 8/19/2014 2004 Bottom Dollar Grocery: Ambridge, PA — 519 2,985 — 3,504 548 11/5/2013 2012 Brynwood Square: Rockford, IL — 1,747 11,393 — 13,140 25 12/21/2020 1999 Burger King: Yukon, OK — 500 1,141 — 1,641 1 12/21/2020 1989 Burlington Coat Factory: Bangor, ME — 1,820 2,549 — 4,369 5 12/21/2020 2014 Cabela’s: Acworth, GA (h ) 4,979 18,775 — 23,754 1,694 9/25/2017 2014 Avon, OH (h ) 2,755 10,751 — 13,506 986 9/25/2017 2016 La Vista, NE (h ) 3,260 16,923 — 20,183 1,468 9/25/2017 2006 Sun Prairie, WI (h ) 3,373 14,058 — 17,431 1,338 9/25/2017 2015 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Caliber Collision Center: Fredericksburg, VA (h ) $ 1,807 $ 2,292 $ — $ 4,099 $ 32 7/22/2020 2019 Frisco, TX (h ) 1,484 2,038 — 3,522 369 9/16/2014 2014 Lake Jackson,TX $ — 800 2,974 — 3,774 4 12/21/2020 2006 Las Cruces, NM (h ) 673 1,949 — 2,622 334 3/21/2014 2014 Richmond, VA (h ) 1,453 3,323 — 4,776 48 7/30/2020 2020 San Antonio,TX — 691 4,458 — 5,149 6 12/21/2020 2019 San Antonio, TX (h ) 622 832 — 1,454 139 6/4/2014 2014 Williamsburg, VA (h ) 1,418 2,800 — 4,218 45 6/12/2020 2020 Wylie, TX (h ) 816 2,690 — 3,506 454 2/10/2015 2014 Camping World: Fort Myers, FL — 3,226 11,832 — 15,058 16 12/21/2020 1987 Pensacola, FL (h ) 2,152 3,831 (1,307 ) 4,676 109 4/29/2014 2014 Canton Marketplace: Canton, GA 31,801 8,310 48,667 930 57,907 12,023 3/28/2013 2009 Carlisle Crossing: Carlisle, PA — 4,491 15,817 41 20,349 2,943 9/18/2014 2006 Cash & Carry: Salt Lake City, UT — 863 4,149 — 5,012 5 12/21/2020 2006 Chase: Hanover Township, NJ (h ) 2,192 — — 2,192 — 12/18/2013 2012 Costco: Tallahassee, FL 5,146 9,497 — — 9,497 — 12/11/2012 2006 Cottonwood Commons: Albuquerque, NM 19,250 4,986 28,881 274 34,141 5,688 7/19/2013 2013 Coventry Crossing: Coventry , RI 6,000 3,462 5,899 (2,292 ) 7,069 137 9/12/2013 2008 Crosspoint: Hagerstown, MD (h ) 12,285 14,359 (971 ) 25,673 2,937 9/30/2014 2000 Crossroads Annex: Lafayette, LA (h ) 1,659 7,091 — 8,750 1,431 12/4/2013 2013 Crossroads Commons: Plover, WI (h ) 1,000 4,515 75 5,590 1,068 12/10/2013 2012 CVS: Arnold, MO (h ) 2,043 2,367 — 4,410 429 12/13/2013 2013 Asheville, NC (h ) 1,108 1,084 — 2,192 248 4/26/2012 1998 Austin, TX (h ) 1,076 3,475 — 4,551 626 12/13/2013 2013 Bloomington, IN (h ) 1,620 2,957 — 4,577 536 12/13/2013 2012 Blue Springs, MO (h ) 395 2,722 — 3,117 493 12/13/2013 2013 Bridgeton, MO (h ) 2,056 2,362 — 4,418 428 12/13/2013 2013 Charleston, SC (h ) 869 1,009 — 1,878 232 4/26/2012 1998 Chesapeake, VA (h ) 1,044 3,053 — 4,097 564 12/13/2013 2013 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date CVS (continued): Chicago, IL (h ) $ 1,832 $ 4,255 $ — $ 6,087 $ 829 3/20/2013 2008 Cicero, IN (h ) 487 3,099 — 3,586 561 12/13/2013 2013 Corpus Christi, TX (h ) 648 2,557 — 3,205 566 4/19/2012 1998 Danville, IN (h ) 424 2,105 76 2,605 371 7/16/2014 1998 Eminence, KY (h ) 872 2,511 — 3,383 449 12/13/2013 2013 Goose Creek, SC (h ) 1,022 1,980 — 3,002 355 12/13/2013 2013 Greenwood, IN (h ) 912 3,549 61 4,522 671 7/11/2013 1999 Hanover Township, NJ (h ) 4,746 — — 4,746 — 12/18/2013 2012 Hazlet, NJ (h ) 3,047 3,610 — 6,657 650 12/13/2013 2013 Honesdale, PA (h ) 1,206 3,342 — 4,548 620 12/13/2013 2013 Independence, MO (h ) 359 2,242 — 2,601 407 12/13/2013 2013 Indianapolis, IN (h ) 1,110 2,484 — 3,594 450 12/13/2013 2013 Irving, TX (h ) 745 3,034 — 3,779 640 10/5/2012 2000 Janesville, WI (h ) 736 2,545 — 3,281 460 12/13/2013 2013 Katy, TX (h ) 1,149 2,462 — 3,611 436 12/13/2013 2013 Lincoln, NE (h ) 2,534 3,014 — 5,548 544 12/13/2013 2013 London, KY (h ) 1,445 2,661 — 4,106 499 9/10/2013 2013 Middletown, NY (h ) 665 5,483 — 6,148 979 12/13/2013 2013 North Wilkesboro, NC (h ) 332 2,369 73 2,774 435 10/25/2013 1999 Poplar Bluff, MO (h ) 1,861 2,211 — 4,072 402 12/13/2013 2013 Riverton, NJ $ — 1,217 5,553 — 6,770 6 12/21/2020 2007 Salem, NH (h ) 3,456 2,351 — 5,807 421 11/18/2013 2013 San Antonio, TX (h ) 1,893 1,848 — 3,741 339 12/13/2013 2013 Sand Springs, OK (h ) 1,765 2,283 — 4,048 416 12/13/2013 2013 Santa Fe, NM (h ) 2,243 4,619 — 6,862 823 12/13/2013 2013 Sedalia, MO (h ) 466 2,318 — 2,784 421 12/13/2013 2013 St. John, MO (h ) 1,546 2,601 — 4,147 471 12/13/2013 2013 Temple Hills, MD (h ) 1,817 2,989 71 4,877 552 9/30/2013 2001 Vineland, NJ (h ) 813 2,926 — 3,739 546 12/13/2013 2010 Waynesboro, VA (h ) 986 2,708 — 3,694 490 12/13/2013 2013 West Monroe, LA (h ) 1,738 2,136 — 3,874 389 12/13/2013 2013 Darien Towne Center: Darien, IL (h ) 6,718 11,951 915 19,584 3,143 12/17/2013 1994 Decatur Commons: Decatur, AL 7,000 2,478 9,333 860 12,671 2,066 7/10/2013 2004 Derby Marketplace: Derby, KS — 3,169 6,494 — 9,663 12 12/21/2020 2015 Dick’s Petsmart Center: Oshkosh, WI (h ) 1,445 6,599 (1,722 ) 6,322 138 9/23/2016 2015 Dick’s Sporting Goods: Oklahoma City, OK (h ) 685 10,587 — 11,272 2,371 12/31/2012 2012 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Dollar General: Akron, OH (h ) $ 112 $ 1,099 $ — $ 1,211 $ 221 11/1/2013 2013 Athens, WV $ — 270 1,364 — 1,634 2 12/21/2020 2015 Autaugaville, AL — 103 951 — 1,054 2 12/21/2020 1995 Bluefield, WV — 290 1,135 — 1,425 2 12/21/2020 2015 Buffalo, NY (h ) 122 1,099 — 1,221 177 12/5/2014 2014 Charleston, WV — 340 1,184 — 1,524 2 12/21/2020 2014 Charleston, WV — 370 1,135 — 1,505 2 12/21/2020 2014 Charleston, WV — 341 1,039 — 1,380 2 12/21/2020 2015 Collinsville, AL — 194 1,003 — 1,197 2 12/21/2020 2014 Columbus, OH (h ) 279 1,248 — 1,527 251 11/7/2013 2013 Des Moines, IA (h ) 166 943 — 1,109 188 8/9/2013 2012 Elmwood, IL — 173 941 — 1,114 2 12/21/2020 2012 Glouster, OH — 220 1,276 — 1,496 2 12/21/2020 2015 Houston (Gears), TX (h ) 255 1,393 — 1,648 259 10/18/2013 2013 Huntington, WV — 260 1,182 — 1,442 2 12/21/2020 2014 Huntington, WV — 240 1,276 — 1,516 2 12/21/2020 2014 Junction City, OH — 171 847 — 1,018 1 12/21/2020 2014 Kansas City, MO (h ) 283 1,068 — 1,351 207 10/18/2013 2013 Kansas City, MO (h ) 233 1,054 — 1,287 202 11/1/2013 2013 Lansing, MI (h ) 232 939 — 1,171 157 6/25/2014 2014 Lineville, AL — 257 1,217 — 1,474 2 12/21/2020 2014 Logansport, IN — 181 977 — 1,158 2 12/21/2020 2014 Mission, TX (h ) 182 858 — 1,040 146 9/5/2014 2014 Mobile, AL (h ) 410 1,059 — 1,469 219 6/17/2013 2013 Moundridge, KS — 415 526 — 941 1 12/21/2020 2014 Parchment, MI (h ) 168 1,162 — 1,330 193 6/25/2014 2014 Pipestone, MN — 204 1,034 — 1,238 2 12/21/2020 2014 Pueblo, CO (h ) 144 909 — 1,053 187 1/4/2013 2012 Ridgeley, WV — 211 1,157 — 1,368 2 12/21/2020 2014 Romulus, MI (h ) 274 1,171 — 1,445 205 3/7/2014 2013 Russell, KS (h ) 54 899 — 953 156 8/5/2014 2014 Selma, AL — 164 858 — 1,022 1 12/21/2020 2014 Semmes, AL — 196 952 — 1,148 2 12/21/2020 2014 Sissonville, WV — 261 1,088 — 1,349 2 12/21/2020 2015 Spring, TX (h ) 277 1,132 — 1,409 213 9/30/2013 2013 Springfield, IL (h ) 205 934 — 1,139 153 9/17/2014 2014 St. Louis, MO (h ) 229 1,102 — 1,331 207 12/31/2013 2013 St. Louis, MO (h ) 240 1,118 — 1,358 208 1/15/2014 2013 Talladega, AL — 161 859 — 1,020 2 12/21/2020 2014 Wakarusa, IN — 243 1,073 — 1,316 2 12/21/2020 2012 Weslaco, TX (h ) 141 848 — 989 144 9/5/2014 2014 Wolcottville, IN — 183 1,012 — 1,195 2 12/21/2020 2013 Duluth Trading: Denton, TX — 1,662 2,918 — 4,580 4 12/21/2020 2017 Madison, AL — 1,174 3,603 — 4,777 5 12/21/2020 2019 Noblesville, IN — 1,212 3,436 — 4,648 5 12/21/2020 2003 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date East West Commons: Austell, G A $ 13,000 $ 10,094 $ 16,034 $ 3,943 $ 30,071 $ 3,370 9/30/2014 2002 Evergreen Marketplace: Evergreen Park, IL (h ) 2,823 6,239 — 9,062 1,487 9/6/2013 2013 Fairlane Green II: Allen Park, MI — 1,409 14,634 — 16,043 18 12/21/2020 2015 Family Dollar: Adelanto, CA (h ) 463 1,711 — 2,174 274 11/14/2014 2014 Bearden, AR — 52 760 — 812 1 12/21/2020 2014 Bessemer, AL (h ) 201 1,043 — 1,244 196 12/27/2013 2013 Birmingham, AL (h ) 500 831 — 1,331 159 12/27/2013 2013 Brooksville, FL (h ) 206 791 — 997 150 12/18/2013 2013 Cabot, AR — 231 1,137 — 1,368 2 12/21/2020 2014 Cathedral City, CA (h ) 658 1,908 — 2,566 315 9/19/2014 2014 Cheyenne, WY (h ) 148 986 — 1,134 176 4/23/2014 2014 Coachella, CA (h ) 450 1,634 — 2,084 293 2/19/2014 2013 Columbus, OH — 252 1,251 — 1,503 2 12/21/2020 2014 Empire, CA (h ) 239 1,527 — 1,766 261 6/27/2014 2014 Ft. Lauderdale, FL (h ) 443 1,361 — 1,804 245 12/18/2013 2013 Fresno, CA (h ) 488 1,553 — 2,041 282 2/19/2014 2013 Hobbs, NM — 243 1,084 — 1,327 2 12/21/2020 2006 Holtville, CA (h ) 317 1,609 — 1,926 289 2/19/2014 2013 Indio, CA (h ) 393 1,636 — 2,029 279 6/25/2014 2014 Irvington, AL (h ) 217 814 — 1,031 157 12/27/2013 2013 Jay, FL (h ) 190 1,002 — 1,192 195 2/25/2014 2013 Jonesboro, GA (h ) 297 1,098 — 1,395 202 2/14/2014 2013 Kissimmee, FL (h ) 622 1,226 — 1,848 211 8/27/2014 2014 LaBelle, FL (h ) 268 1,037 — 1,305 199 2/28/2014 2014 Lake Elsinor, CA (h ) 417 1,682 — 2,099 298 3/3/2014 2013 Lakeland, FL (h ) 353 937 — 1,290 167 6/30/2014 2014 Lewiston, ME — 271 1,157 — 1,428 2 12/21/2020 2014 Little Rock, CA (h ) 499 1,730 — 2,229 267 2/19/2015 2014 Melbourne, FL (h ) 362 883 — 1,245 162 2/28/2014 2014 Morgan, UT — 235 1,068 — 1,303 2 12/21/2020 2013 New Roads, LA — 190 674 — 864 1 12/21/2020 2015 Oshkosh, WI (h ) 361 815 — 1,176 151 2/25/2014 2013 Palmdale, CA (h ) 372 1,822 — 2,194 275 3/30/2015 2014 Pensacola, FL (h ) 509 791 — 1,300 147 3/27/2014 2014 Pine Lake, GA (h ) 639 897 — 1,536 157 8/26/2014 2014 Riverside, CA (h ) 736 1,558 — 2,294 273 4/4/2014 2014 Roswell, NM — 199 921 — 1,120 2 12/21/2020 2014 Salina, UT — 211 1,262 — 1,473 2 12/21/2020 2014 San Antonio, TX — 409 914 — 1,323 1 12/21/2020 2014 San Antonio, TX — 347 1,148 — 1,495 2 12/21/2020 1995 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Family Dollar (continued): San Jacinto, CA (h ) $ 430 $ 1,682 $ — $ 2,112 $ 283 7/18/2014 2014 Statesboro, GA (h ) 347 800 — 1,147 150 2/14/2014 2013 Stockton, CA (h ) 202 1,817 — 2,019 297 9/19/2014 2014 Taft, CA (h ) 255 1,422 — 1,677 275 8/23/2013 2013 Talladega, AL $ — 222 951 — 1,173 2 12/21/2020 2014 Tampa (Cragmont), FL (h ) 563 737 — 1,300 141 12/18/2013 2013 Tampa (Forest), FL (h ) 482 920 — 1,402 173 12/18/2013 2013 Tenn Colony, TX — 150 834 — 984 1 12/21/2020 2014 Terra Bella, CA (h ) 332 1,394 — 1,726 251 2/19/2014 2013 Tuscaloosa, AL (h ) 534 817 — 1,351 157 12/27/2013 2013 Valley, AL — 180 983 — 1,163 2 12/21/2020 2014 Walthourville, GA — 290 1,058 — 1,348 2 12/21/2020 1995 Warrenville, SC — 207 986 — 1,193 2 12/21/2020 2013 Flower Foods: Orlando, FL (h ) 418 387 — 805 65 9/11/2014 2013 Waldorf, MD (h ) 398 1,045 — 1,443 194 9/11/2014 2013 Food 4 Less: Atwater, CA (h ) 1,383 5,271 — 6,654 1,068 11/27/2013 2002 Fountain Square: Brookfield, WI (h ) 6,508 28,634 25 35,167 3,689 1/17/2017 2006 Fourth Creek Landing: Statesville, NC (h ) 1,375 7,795 — 9,170 2,076 3/26/2013 2012 Fresenius Medical Care: West Plains, MO (h ) 557 3,097 — 3,654 520 7/2/2014 2014 Fresh Market Center: Glen Ellyn, IL 4,750 2,767 6,403 (3,494 ) 5,676 153 9/30/2014 2014 Fresh Thyme: Indianapolis, IN (h ) 1,087 6,019 — 7,106 1,089 10/31/2014 2014 Lafayette, IN — 1,173 6,316 — 7,489 7 12/21/2020 2006 Northville, MI (h ) 1,598 7,796 — 9,394 1,094 12/21/2015 2015 Ypsilanti, MI — 3,168 5,719 — 8,887 7 12/21/2020 2017 Fresh Thyme & DSW: Fort Wayne, IN (h ) 1,740 4,153 612 6,505 836 9/30/2014 1985 Giant Eagle: Seven Fields, PA (h ) 1,574 13,659 — 15,233 2,345 5/7/2014 2005 Harbor Town Center: Manitowoc, WI 9,750 3,568 13,209 (1,799 ) 14,978 895 4/24/2015 2005 Haverty Furniture: Midland, TX (h ) 709 1,294 — 2,003 384 8/7/2013 2012 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date HEB Center: Waxahachie, TX $ 7,000 $ 3,465 $ 7,952 $ 273 $ 11,690 $ 1,817 6/27/2012 1997 Hobby Lobby: Lewisville, TX (h ) 2,184 8,977 — 11,161 1,758 11/26/2013 2013 Home Depot: Lincoln, NE (h ) 6,339 5,937 — 12,276 832 10/22/2015 1993 North Canton, OH (h ) 2,203 12,012 360 14,575 2,621 12/20/2012 1998 Houma Crossing: Houma, LA 12,264 1,076 20,028 — 21,104 28 12/21/2020 2008 Hy-Vee: Omaha, NE — 1,842 7,909 — 9,751 11 12/21/2020 2016 Jewel-Osco: Plainfield, IL (h ) — — 11,151 11,151 578 11/14/2018 2001 Kirkland’s: Dothan, AL (h ) 486 946 — 1,432 211 8/5/2014 2014 Kohl’s: Chartlottesville, VA (h ) 3,929 12,280 — 16,209 2,057 7/28/2014 2011 Eagan, MN — 3,581 3,751 — 7,332 6 12/21/2020 1996 Easton, MD (h ) 2,962 2,661 — 5,623 335 12/2/2015 1992 Kroger: Bay City, MI — 718 5,058 — 5,776 8 12/21/2020 1994 Shelton, WA (h ) 1,180 11,040 — 12,220 2,150 4/30/2014 1994 Whitehall, OH (h ) 581 6,628 224 7,433 1,363 12/16/2013 1994 Kum & Go: Conway, AR (h ) 510 2,577 — 3,087 428 6/13/2014 2014 LA Fitness: Bloomfield Township, MI (h ) 2,287 10,075 — 12,362 2,141 6/21/2013 2008 Columbus, OH (h ) 1,013 6,734 — 7,747 1,059 4/29/2015 2014 Garland, TX (h ) 2,005 6,861 41 8,907 1,267 12/20/2013 2013 Houston, TX (h ) 5,764 5,994 — 11,758 1,161 9/30/2013 2013 New Lenox, IL (h ) 1,965 6,257 — 8,222 823 12/21/2015 2015 Riverside, CA (h ) 2,557 9,951 — 12,508 1,976 8/2/2013 2010 Lafayette Pavilions: Lafayette, IN (h ) 7,632 42,497 (3,245 ) 46,884 1,067 2/6/2015 2006 Lawton Marketplace: Lawton, OK 19,247 3,598 25,228 3 28,829 43 12/21/2020 2001 Lord Salisbury Center: Salisbury, MD (h ) 6,949 12,179 (2,319 ) 16,809 370 3/11/2016 2005 Lowe’s: Adrian, MI (h ) 2,604 5,036 30 7,670 1,274 9/27/2013 1996 Alpharetta, GA (h ) 7,979 9,630 403 18,012 1,588 5/29/2015 1998 Asheboro, NC (h ) 1,098 6,722 — 7,820 1,187 6/23/2014 1994 Cincinnati, OH (h ) 14,092 — — 14,092 — 2/10/2014 2001 Columbia, SC (h ) 3,943 6,353 750 11,046 1,467 9/12/2013 1994 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Lowe’s (continued): Covington, LA (h ) $ 10,233 $ — $ — $ 10,233 $ — 8/20/2014 2002 Hermitage, PA $ — 2,279 12,580 — 14,859 16 12/21/2020 2016 Lilburn, GA (h ) 8,817 9,380 385 18,582 1,539 5/29/2015 1999 Mansfield, OH (h ) 873 8,256 26 9,155 1,492 6/12/2014 1992 Marietta, GA (h ) 7,471 8,404 392 16,267 1,400 5/29/2015 1997 Oxford, AL (h ) 1,668 7,622 369 9,659 1,804 6/28/2013 1999 Tuscaloosa, AL (h ) 4,908 4,786 9 9,703 986 10/29/2013 1993 Woodstock, GA (h ) 7,316 8,879 392 16,587 1,476 5/29/2015 1997 Zanesville, OH (h ) 2,161 8,375 297 10,833 1,626 12/11/2013 1995 Mattress Firm: Ashtabula, OH (h ) 301 1,965 (453 ) 1,813 36 3/23/2016 2015 Draper, UT — 860 1,419 — 2,279 2 12/21/2020 2014 Lake City, FL — 517 1,241 — 1,758 2 12/21/2020 2004 Mattress Firm & Aspen Dental: Vienna, WV — 774 2,466 — 3,240 521 9/15/2014 2014 Mattress Firm & Five Guys: Muskegon, MI (h ) 813 1,766 (314 ) 2,265 33 8/29/2014 2014 McAlister’s Deli: Lawton, OK (h ) 805 1,057 — 1,862 194 5/1/2014 2013 McGowin Park: Mobile, AL 42,765 2,243 69,357 — 71,600 8,187 4/26/2017 2016 Melody Mountain: Ashland, KY 5,940 1,286 9,879 (1,874 ) 9,291 231 9/1/2015 2013 Merchants Tire & Auto: Wake Forest, NC (h ) 782 1,730 — 2,512 241 9/1/2015 2005 Mister Car Wash: Athens, AL (h ) 383 1,150 — 1,533 109 9/12/2017 2008 Decatur, AL (h ) 257 559 — 816 57 9/12/2017 2005 Decatur, AL (h ) 486 1,253 — 1,739 136 9/12/2017 2014 Decatur, AL (h ) 359 1,152 — 1,511 124 9/12/2017 2007 Hartselle, AL (h ) 360 569 — 929 60 9/12/2017 2007 Madison, AL (h ) 562 1,139 — 1,701 126 9/12/2017 2012 Morganton Heights: Morganton, NC 22,800 7,032 29,763 30 36,825 6,167 4/29/2015 2013 National Tire & Battery: Cedar Hill, TX (h ) 469 1,951 — 2,420 402 12/18/2012 2006 Cypress, TX (h ) 910 2,224 — 3,134 332 9/1/2015 2005 Flower Mound, TX (h ) 779 2,449 — 3,228 351 9/1/2015 2005 Fort Worth, TX (h ) 936 1,234 — 2,170 242 8/23/2013 2005 Fort Worth, TX (h ) 730 2,309 — 3,039 331 9/1/2015 2005 Frisco, TX (h ) 844 1,608 — 2,452 313 8/23/2013 2007 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date National Tire & Battery (continued): Montgomery, IL (h ) $ 516 $ 2,494 $ — $ 3,010 $ 517 1/15/2013 2007 North Richland Hills, TX (h ) 513 2,579 — 3,092 380 9/1/2015 2005 Pasadena, TX (h ) 908 2,307 — 3,215 344 9/1/2015 2005 Pearland, TX (h ) 1,016 2,040 — 3,056 298 9/1/2015 2005 Plano, TX (h ) 1,292 2,197 — 3,489 320 9/1/2015 2005 Tomball, TX (h ) 838 2,229 — 3,067 322 9/1/2015 2005 Natural Grocers: Idaho Falls, ID (h ) 833 2,316 — 3,149 422 2/14/2014 2013 Waupaca, WI $ — 1,286 3,727 — 5,013 5 12/21/2020 2017 Nordstrom Rack: Tampa, FL 6,880 3,371 6,402 1,583 11,356 1,748 4/16/2012 2010 O’Reilly Automotive: Bennettsville, SC — 361 1,207 — 1,568 2 12/21/2020 2015 Calyton, GA (h ) 501 945 — 1,446 121 1/29/2016 2015 Flowood, MS — 506 1,288 — 1,794 2 12/21/2020 2014 Iron Mountain, MI — 249 1,400 — 1,649 2 12/21/2020 2014 Owenboro Towne Center: Owensboro, KY 14,160 3,807 16,259 862 20,928 2,474 1/12/2016 1996 Parkway Centre South: Grove City, OH 14,250 7,027 18,223 (2,269 ) 22,981 1,054 7/15/2016 2005 Pecanland Plaza: Monroe, LA (h ) 2,206 18,957 (3,265 ) 17,898 334 10/13/2015 2008 Petsmart: Wilkesboro, NC (h ) 447 1,710 — 2,157 402 4/13/2012 2011 Petsmart/Old Navy: Reynoldsburg, OH 3,720 1,295 4,077 — 5,372 981 12/14/2012 2012 Pick ‘N Save: Heber City, UT — 1,160 9,111 — 10,271 12 12/21/2020 2016 Pewaukee, WI (h ) 1,323 6,761 257 8,341 1,311 8/13/2014 1999 Sheboygan, WI (h ) 2,003 10,695 — 12,698 2,341 9/6/2012 2012 South Milwaukee, WI (h ) 1,126 5,706 — 6,832 1,056 11/6/2013 2005 Waterford, WI — 731 4,078 — 4,809 5 12/21/2020 2017 Plainfield Marketplace: Plainfield, IL (h ) 3,167 14,788 (3,827 ) 14,128 — 12/3/2015 2002 Plaza San Mateo: Albuquerque, NM — 2,867 11,582 (4,011 ) 10,438 311 5/2/2014 2014 Popeyes: Independence, MO (h ) 333 680 — 1,013 115 6/27/2014 2005 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Poplar Springs Plaza: Duncan, SC $ 5,000 $ 1,862 $ 5,277 $ 517 $ 7,656 $ 1,270 5/24/2013 1995 Raising Cane’s: Murphy, TX — 495 2,854 — 3,349 3 12/21/2020 1994 Reno, NV — 1,841 2,259 — 4,100 3 12/21/2020 2014 Rolling Acres Plaza: Lady Lake, FL 21,930 7,540 26,839 (4,093 ) 30,286 1,302 9/1/2016 2005 Rushmore Crossing: Rapid City, SD 22,046 7,066 33,019 (12,059 ) 28,026 569 1/2/2014 2012 Rapid City, SD (h ) 883 4,128 (1,348 ) 3,663 87 1/2/2014 2012 Safeway: Juneau, AK — 6,174 8,792 — 14,966 11 12/21/2020 2017 Sherwin Williams: Macon, GA (h ) 59 659 — 718 98 4/16/2015 2015 Shippensburg Market Place: Shippensburg, PA (h ) 1,917 9,263 (3,530 ) 7,650 185 9/18/2014 2002 Shoe Carnival & Buffalo Wild Wings: Salina, KS — 991 1,909 — 2,900 3 12/21/2020 2014 Shoppes at Stroud: Stroud Township, PA (h ) 3,754 22,614 (2,220 ) 24,148 1,226 10/29/2014 2007 Shoppes of Gary Farms: Bowling Green, KY — 3,529 14,197 — 17,726 20 12/21/2020 2005 Shops at Abilene: Abilene, TX 14,989 5,142 19,684 — 24,826 30 12/21/2020 2014 Siemens: Milford, OH — 4,137 23,153 — 27,290 42 12/21/2020 1991 Southwest Plaza: Springfield, IL (h ) 2,992 48,935 (23,580 ) 28,347 1,360 9/18/2014 2003 Spinx: Simpsonville, SC (h ) 591 969 — 1,560 194 1/24/2013 2012 Springfield Commons: Springfield, OH 11,250 3,745 15,049 (4,182 ) 14,612 168 5/5/2015 1995 Sprouts: Bixby, OK (h ) 1,320 7,117 — 8,437 1,367 7/26/2013 2013 Lawrence, KS — 762 8,111 — 8,873 10 12/21/2020 2001 Steinhafels: Greenfield, WI — 1,783 7,643 — 9,426 9 12/21/2020 1991 Stoneridge Village: Jefferson City, MO 6,500 1,830 9,351 1 11,182 1,886 6/30/2014 2012 Stop & Shop: North Kingstown, RI — 639 2,057 — 2,696 2 12/21/2020 1979 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Summerfield Crossing: Riverview, FL $ 7,310 $ 6,130 $ 6,753 $ (1,159 ) $ 11,724 $ 357 7/12/2013 2013 Sunbelt Rentals: Canton, OH (h ) 147 1,679 138 1,964 415 10/24/2013 2013 Sunoco: Palm Beach Gardens, FL (h ) 1,050 2,667 — 3,717 515 4/12/2013 2009 Palm City, FL (h ) 667 1,698 — 2,365 329 4/12/2013 2011 Palm Springs, FL (h ) 580 1,907 — 2,487 369 4/12/2013 2011 Sebastian, FL (h ) 490 2,128 — 2,618 412 4/12/2013 2009 Titusville, FL (h ) 626 2,534 — 3,160 490 4/12/2013 2009 Sutters Creek: Rocky Mount, NC (h ) 1,458 2,616 283 4,357 607 1/31/2014 2012 Take 5: Andrews, TX — 230 862 — 1,092 1 12/21/2020 1994 Bedford, TX — 283 837 — 1,120 1 12/21/2020 2009 Burleson, TX — 471 936 — 1,407 1 12/21/2020 1994 Burleson, TX — 201 837 — 1,038 1 12/21/2020 2010 Burleson, TX — 394 407 — 801 1 12/21/2020 2003 Cedar Hill, TX — 250 705 — 955 1 12/21/2020 1985 Hereford, TX — 50 995 — 1,045 1 12/21/2020 1993 Irving, TX — 120 445 — 565 1 12/21/2020 1989 Irving, TX — 210 818 — 1,028 1 12/21/2020 1987 Lubbock, TX — 151 1,428 — 1,579 2 12/21/2020 2002 Midland, TX — 192 1,861 — 2,053 2 12/21/2020 1995 Mineral Wells, TX — 131 1,263 — 1,394 1 12/21/2020 2019 Target Center: Columbia, SC (h ) 3,234 7,297 (651 ) 9,880 394 3/31/2014 2012 Terrell Mill Village: Marieta, GA (h ) 3,079 11,185 14 14,278 2,205 1/31/2014 2012 TGI Friday’s: Cheseapeake, VA (h ) 1,217 1,388 — 2,605 242 6/27/2014 2003 Wilmington, DE (h ) 1,685 969 — 2,654 172 6/27/2014 1991 The Center at Hobbs Brook: Sturbridge, MA 21,500 11,241 29,152 1,502 41,895 4,655 6/29/2016 1999 The Market at Clifty Crossing: Columbus, IN (h ) 2,669 16,308 113 19,090 4,509 10/31/2014 1989 The Market at Polaris: Columbus, OH (h ) 11,828 41,702 (36,715 ) 16,815 284 12/6/2013 2005 The Marquis: Williamsburg, VA 8,556 2,615 11,406 — 14,021 2,609 9/21/2012 2007 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date The Plant: San Jose, CA $ 123,000 $ 67,596 $ 108,203 $ 583 $ 176,382 $ 24,218 4/15/2013 2008 The Ridge at Turtle Creek: Hattiesburg, MS 9,900 2,749 12,434 (3,482 ) 11,701 267 2/27/2015 2011 Tire Kingdom: Bluffton, SC (h ) 645 1,688 — 2,333 235 9/1/2015 2005 Summerville, SC (h ) 1,208 1,233 — 2,441 178 9/1/2015 2005 Tire Kingdom & Starbucks: Mount Pleasant, SC 2,400 1,291 3,149 (502 ) 3,938 154 9/1/2015 2005 Tractor Supply: Ashland, VA (h ) 500 2,696 — 3,196 510 11/22/2013 2013 Augusta, KS (h ) 407 2,315 — 2,722 430 1/10/2014 2013 Blytheville, AR — 780 2,660 — 3,440 4 12/21/2020 2002 Cambridge, MN (h ) 807 1,272 28 2,107 339 5/14/2012 2012 Canon City, CO (h ) 597 2,527 — 3,124 513 11/30/2012 2012 Carlyle, IL — 707 2,386 — 3,093 4 12/21/2020 2015 Fortuna, CA (h ) 568 3,819 — 4,387 675 6/27/2014 2014 Logan, WV — 597 3,232 — 3,829 4 12/21/2020 2006 Lumberton, NC (h ) 611 2,007 — 2,618 438 5/24/2013 2013 Marion, IN (h ) 1,536 1,099 — 2,635 216 2/19/2014 2004 Midland, NC — 865 2,182 — 3,047 3 12/21/2020 2013 Monticello, FL (h ) 448 1,916 — 2,364 415 6/20/2013 2013 Shelbyville, IL — 586 2,576 — 3,162 4 12/21/2020 2017 South Hill, VA (h ) 630 2,179 — 2,809 445 6/24/2013 2011 Weaverville, NC (h ) 867 3,138 — 4,005 624 9/13/2013 2006 Woodward, OK (h ) 446 1,973 — 2,419 402 11/19/2013 2013 Trader Joe’s: Asheville, NC (h ) 2,770 3,766 — 6,536 744 10/22/2013 2013 Columbia, SC (h ) 2,308 2,597 — 4,905 594 3/28/2013 2012 Wilmington, NC (h ) 2,016 2,519 — 4,535 630 6/27/2013 2012 Turfway Crossing: Florence, KY 8,280 2,261 10,323 418 13,002 2,180 5/27/2014 2002 Ulta Salon: Albany, GA (h ) 441 1,757 — 2,198 313 5/8/2014 2013 Greeley, CO (h ) 596 2,035 — 2,631 315 3/31/2015 2014 United Oil: Bellflower, CA (h ) 1,246 788 — 2,034 125 9/30/2014 2001 Brea, CA (h ) 2,393 658 — 3,051 104 9/30/2014 1984 Carson, CA — 2,354 4,821 — 7,175 6 12/21/2020 1958 El Cajon, CA (h ) 1,533 568 — 2,101 90 9/30/2014 2008 El Cajon, CA (h ) 1,225 368 — 1,593 58 9/30/2014 2000 El Monte, CA (h ) 766 510 — 1,276 80 9/30/2014 1994 Escondido, CA (h ) 3,514 1,062 — 4,576 168 9/30/2014 2002 Fallbrook, CA — 1,266 3,458 — 4,724 4 12/21/2020 1958 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date United Oil (continued): Glendale, CA (h ) $ 4,871 $ 795 $ — $ 5,666 $ 126 9/30/2014 1999 Harbor City, CA $ — 1,359 3,047 — 4,406 3 12/21/2020 2014 Hawthorne, CA — 896 1,764 — 2,660 2 12/21/2020 2001 Inglewood, CA (h ) 1,809 878 — 2,687 139 9/30/2014 1997 La Habra, CA (h ) 1,971 571 — 2,542 90 9/30/2014 2000 Lakewood, CA — 2,499 2,400 — 4,899 3 12/21/2020 1973 Lawndale, CA (h ) 1,462 862 — 2,324 136 9/30/2014 2001 Long Beach, CA — 1,088 2,582 — 3,670 3 12/21/2020 1990 Long Beach, CA (h ) 2,778 883 — 3,661 140 9/30/2014 1972 Los Angeles, CA (h ) 2,334 717 — 3,051 113 9/30/2014 2002 Los Angeles, CA (h ) 3,552 1,242 — 4,794 196 9/30/2014 2002 Los Angeles, CA (h ) 2,745 669 — 3,414 106 9/30/2014 1998 Los Angeles, CA (h ) 3,930 428 — 4,358 68 9/30/2014 2005 Los Angeles, CA (h ) 1,927 1,484 — 3,411 235 9/30/2014 2007 Los Angeles, CA (h ) 2,182 701 — 2,883 111 9/30/2014 1964 Los Angeles, CA — 2,435 2,614 — 5,049 3 12/21/2020 1982 Los Angeles, CA — 2,016 3,486 — 5,502 4 12/21/2020 1965 Madera, CA (h ) 1,500 3,804 — 5,304 265 9/27/2019 2018 Norco, CA (h ) 1,852 1,489 — 3,341 235 9/30/2014 1995 Poway, CA (h ) 3,072 705 — 3,777 111 9/30/2014 1960 San Clemente, CA — 2,036 3,561 — 5,597 4 12/21/2020 1973 San Diego, CA — 1,362 1,662 — 3,024 2 12/21/2020 1959 San Diego, CA — 1,547 3,218 — 4,765 4 12/21/2020 2011 San Diego, CA — 2,409 4,105 — 6,514 5 12/21/2020 1976 San Diego, CA (h ) 2,977 1,448 — 4,425 229 9/30/2014 1984 San Diego, CA (h ) 1,877 883 — 2,760 139 9/30/2014 2006 San Diego, CA (h ) 1,824 382 — 2,206 61 9/30/2014 2006 Santa Ana, CA — 1,629 1,767 — 3,396 2 12/21/2020 2000 Santa Clarita, CA (h ) 4,787 733 — 5,520 116 9/30/2014 2001 Sun City, CA (h ) 1,136 1,421 — 2,557 224 9/30/2014 1984 Vista, CA (h ) 2,063 334 — 2,397 53 9/30/2014 1986 Vista (Vista), CA (h ) 2,028 418 — 2,446 66 9/30/2014 2010 Whittier, CA (h ) 1,629 985 — 2,614 156 9/30/2014 1997 University Marketplace: Marion, IN (h ) 850 6,722 121 7,693 1,831 3/22/2013 2012 Urban Air Adventure Park: Waukesha, WI (h ) 3,408 12,918 666 16,992 2,057 9/29/2014 2007 Vacant: Appleton, WI (h ) 895 1,026 (1,194 ) 727 9 11/18/2015 2015 Cherokee, IA (h ) 217 3,326 (2,654 ) 889 11 12/23/2015 2015 Cokato, MN (h ) 358 3,229 (2,280 ) 1,307 8 12/23/2015 2015 Danville, VA (h ) 274 1,514 (1,062 ) 726 36 4/29/2014 2014 Dickson City, PA — 1,113 7,946 (7,817 ) 1,242 221 6/30/2014 2013 Initial Costs to Company Gross Amount at Which Carried December 31, 2020 (c) (d) (e) Description (a) Encumbrances Land Buildings, Total (b) Accumulated (e) (f) (g) Date Date Vacant (continued): Eldersburg, MD (h ) $ 557 $ 876 $ — $ 1,433 $ 102 4/28/2017 2000 Lancaster, TX (h ) 1,203 1,620 — 2,823 361 10/23/2012 2011 Nampa, ID (h ) 449 2,213 (1,482 ) 1,180 36 3/31/2014 1972 Raleigh, NC $ — 329 556 — 885 1 12/21/2020 2014 Sanford, FL (h ) 1,031 1,807 (1,861 ) 977 14 10/23/2012 1999 Troy, OH (h ) 992 1,577 (1,383 ) 1,186 88 10/23/2012 2011 Valentine, NE (h ) 395 3,549 (2,403 ) 1,541 57 6/30/2014 2014 Walker, LA (h ) 900 3,909 — 4,809 657 6/27/2014 1999 Ventura Place: Albuquerque, NM (h ) 5,203 7,998 (5,050 ) 8,151 196 4/29/2015 2008 Vitamin Shoppe: Taylor, MI — 631 767 — 1,398 1 12/21/2020 1995 Wal-Mart: Anderson, SC (h ) 2,424 9,719 — 12,143 1,251 11/5/2015 2015 Florence, SC (h ) 2,013 9,225 — 11,238 1,182 11/5/2015 2015 Perry, GA (h ) 2,270 11,053 — 13,323 2,364 6/4/2013 1999 Summerville, SC 4,300 2,410 2,098 — 4,508 309 9/18/2015 2015 Tallahassee, FL (h ) 14,823 — — 14,823 — 12/11/2012 2008 York, SC (h ) 1,913 11,410 — 13,323 2,425 6/4/2013 1998 Walgreens: Austintown, OH (h ) 637 4,173 — 4,810 779 8/19/2013 2002 Baton Rouge, LA — 1,015 4,671 — 5,686 6 12/21/2020 2006 Chicopee, MA (h ) 2,094 4,945 — 7,039 772 10/23/2014 2008 Clinton, MI 4,209 1,977 4,232 — 6,209 5 12/21/2020 1997 Connelly Springs, NC (h ) 1,349 3,628 — 4,977 694 8/27/2013 2012 Danville, VA (h ) 989 4,547 — 5,536 979 12/24/2012 2012 Dearborn Heights, MI (h ) 2,236 3,411 — 5,647 657 7/9/2013 2008 East Chicago, IN (h ) 331 5,242 — 5,573 839 8/8/2014 2005 Fort Madison, IA (h ) 514 3,723 — 4,237 700 9/20/2013 2008 Greenville, OH — 542 4,063 — 4,605 5 12/21/2020 2014 Harrison, AR 4,750 1,237 5,424 — 6,661 6 12/21/2020 2007 Hickory, NC (h ) 1,100 4,241 — 5,341 867 2/28/2013 2009 Huntsville, AL 3,273 1,931 2,457 97 4,485 533 3/15/2013 2001 Indianapolis, IN 4,602 1,212 5,484 —

SCHEDULE IV - MORTGAGE LOANS ON

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	Loan Type Description /Location Interest (a) Final Periodic (b) Prior Face Carrying Principal Mezzanine loan Condo / New York, New York L + 14.85 % 5/9/2021 P/I N/A $ 34,904 $ 35,888 $ — Mezzanine loan Condo / New York, New York L + 14.85 % 5/9/2021 P/I N/A 22,480 23,218 — Mezzanine loan Condo / New York, New York L + 14.85 % 5/9/2021 P/I N/A 13,906 14,350 — Mezzanine loan Condo / New York, New York L + 14.85 % 5/9/2021 P/I N/A 9,131 9,624 — Mezzanine loan Condo / New York, New York L + 8.00 % 5/9/2021 P/I N/A 22,104 22,373 — Mezzanine loan Condo / New York, New York L + 8.00 % 5/9/2021 P/I N/A 16,681 16,880 — Mezzanine loan Condo / New York, New York L + 8.00 % 5/9/2021 P/I N/A 10,034 10,153 — Mezzanine loan Condo / New York, New York L + 8.00 % 5/9/2021 P/I N/A 7,549 7,639 — Senior loan Office / Duluth, Georgia L + 3.15 % 2/1/2025 P/I N/A 46,935 46,486 — Senior loan Multifamily / Atlanta, Georgia L + 2.75 % 1/9/2024 P/I N/A 69,500 69,238 — Senior loan Office / Dallas, Texas L + 4.50 % 9/8/2023 P/I N/A 155,899 154,168 — Senior loan Office / Orlando, Florida L + 4.00 % 10/9/2023 P/I N/A 72,315 71,653 — Total loans $ 481,438 $ 481,670 $ — Cure payments receivable (c) — 7,351 — Allowance for credit losses (b) — (60,628 ) — Total loans, net $ 481,438 $ 428,393 $ — (a) L = one month LIBOR rate. (b) P/I = principal and interest. (c) Represents operating expenses related to the mezzanine loans paid by the Company on the borrower’s behalf in connection with the foreclosure proceedings that commenced during the year ended December 31, 2020. (d) As of December 31, 2020, the Company’s allowance for credit losses related to its loans held-for-investment The following table reconciles mortgage loans on real estate for the years ended December 31 (in thousands): Year Ended December 31, 2020 2019 2018 Balance, beginning of period $ 298,880 $ 89,762 $ — Additions during period: New loans 231,212 217,014 89,295 Capitalized interest 539 8,546 384 Accretion of fees and other items 1,909 2,441 268 Total additions $ 233,660 $ 228,001 $ 89,947 Less: Deductions during period: Collections of principal (47,670 ) (17,186 ) — Deferred fees and other items (3,200 ) (1,697 ) (185 ) Total deductions (50,870 ) (18,883 ) (185 ) Balance, end of period $ 481,670 $ 298,880 $ 89,762 Cure payments receivable 7,351 — — Allowance for credit losses (60,628 ) — — Net balance, end of period $ 428,393 $ 298,880 $ 89,762

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s condensed 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 condensed consolidated financial statements.	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	Principles of Consolidation and Basis of Presentation The condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the SEC regarding interim financial reporting, including the instructions to Form 10-Q S-X, 10-Q 10-K 10-Q. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. 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.
Reclassifications	Reclassifications Certain amounts in the Company’s prior period condensed consolidated financial statements have been reclassified to conform to the current period presentation. This reclassification had no effect on previously reported totals or subtotals. The reclassifications have been made to the condensed consolidated statements of operations for the three and six months ended June 30, 2020 as follows (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As previously Reclassification As Revised As previously Reclassification As Revised Condensed Consolidated Statements of Operations General and administrative $ 4,235 $ (1,215 ) $ 3,020 $ 7,917 $ (2,015 ) $ 5,902 Management fees $ 11,398 $ (1,648 ) $ 9,750 $ 22,488 $ (2,888 ) $ 19,600 Transaction-related $ 330 $ (205 ) $ 125 $ 582 $ (332 ) $ 250 Expense reimbursements to related parties $ — $ 3,057 $ 3,057 $ — $ 5,235 $ 5,235 Interest expense and other, net $ 15,509 $ 11 $ 15,520 $ 31,276 $ — $ 31,276	Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those 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 Dispositions 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 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- 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 six months ended June 30, 2021, as part of the Company’s quarterly impairment review procedures, the Company recorded impairment charges of $4.4 million related to five properties, of which impairment at three properties was due to sales prices that were less than their respective carrying values and impairment at two properties was due to vacancy. The Company’s impairment assessment as of June 30, 2021 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 six months ended June 30, 2020, the Company recorded impairment charges of $15.5 million related to nine properties due to revised cash flow estimates as a result of market conditions and one property due to a tenant bankruptcy. The assumptions and uncertainties utilized in the evaluation of the impairment of real estate assets are discussed in detail in Note 3 — Fair Value Measurements. See also Note 4 — Real Estate Assets for further discussion regarding real estate investment activity.	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
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 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 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. Certain acquisition-related expenses related to asset acquisitions are capitalized and allocated to tangible and intangible assets and liabilities, as described above. Acquisition-related manager expense reimbursements are expensed as incurred and are included in expense reimbursements to related parties in the accompanying condensed consolidated statements of operations. Other acquisition-related expenses continue to be expensed as incurred and are included in transaction-related	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 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 in-place below-market 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 in-place in- in-place The Company has acquired, and may continue to 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 escrowed funds to the Company or the seller or a combination thereof. 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 are initially 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 is 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. Acquisition-related fees and certain acquisition-related expenses related to asset acquisitions are capitalized and allocated to tangible and intangible assets and liabilities, as described above. Other acquisition-related expenses, such as manager reimbursements, continue to be expensed as incurred and are included in transaction-related
Restricted Cash	Restricted CashAs part of certain debt agreements, rents from certain encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess is disbursed to the Company.
Redeemable Noncontrolling Interest in Consolidated Joint Venture		Redeemable Noncontrolling Interest in Consolidated Joint Venture From June 2014 to December 2019, the Company determined it had a controlling interest in the Consolidated Joint Venture and, therefore, met the GAAP requirements for consolidation. The Company recorded net income of $121,000 and paid distributions of $285,000 related to the noncontrolling interest during the year ended December 31, 2019. During the year ended December 31, 2019, the Company disposed of its interest in the underlying properties previously owned through the Consolidated Joint Venture, as further discussed in Note 4 — Real Estate Assets. Therefore, the Company determined it no longer had a controlling financial interest as of December 31, 2019.
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 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. Included in cash and cash equivalents was $41.0 million and $126.8 million of unsettled broadly syndicated loan purchases as of December 31, 2020 and 2019, respectively. The Company had $7.0 million and $7.3 million in restricted cash as of December 31, 2020 and December 31, 2019, respectively. Included in restricted cash was $3.6 million and $3.1 million held by lenders in lockbox accounts, as of December 31, 2020 and 2019, respectively. As part of certain debt agreements, rents from certain encumbered properties are deposited directly into a lockbox account, from which the monthly debt service payment is disbursed to the lender and the excess is disbursed to the Company. Also included in restricted cash was $3.4 million and $4.2 million held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the associated lender’s loan agreement as of December 31, 2020 and 2019, respectively.
Real Estate-Related Securities	Real Estate-Related Securities Real estate-related securities consists primarily of the Company’s investment in commercial mortgage-backed securities (“CMBS”). The Company determines the appropriate classification for real estate-related securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of June 30, 2021, the Company classified its investments as available-for-sale The Company monitors its available-for-sale securities for changes in fair value. An allowance for credit losses is recorded when the Company acquires CMBS, and any subsequent impairment 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 the 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 real estate-related 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 condensed consolidated statements of operations in interest income. Upon the sale of a security, the realized net gain or loss is computed on the specific identification method. Interest earned is either received in cash or capitalized to real estate-related securities in the Company’s condensed consolidated balance sheets. Interest is capitalized when certain conditions are met as specified in each security agreement. During the three and six months ended June 30, 2021, the Company capitalized $435,000 of interest income to real estate-related	Real Estate-Related Securities Real estate-related securities consists primarily of the Company’s investment in commercial mortgage-backed available-for-sale The Company monitors its available-for-sale The amortized cost of real estate-related 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.
Loans Held-for-Investment	Loans Held-for-Investment The Company has acquired, and may continue to acquire, loans related to real estate assets. Additionally, the Company may acquire and originate credit investments, including commercial mortgage loans, mezzanine loans, preferred equity, and other loans and securities related to commercial real estate assets, as well as corporate loan opportunities that are consistent with the Company’s investment strategy and objectives. The Company intends to hold the loans held-for- held-for-investment Interest earned is either received in cash or capitalized to loans held-for-investment Accrual of interest income is suspended on nonaccrual loans. Loans that are past due 90 days or more as to principal or interest, or where reasonable doubt exists as to timely collection, are generally considered nonperforming and placed on nonaccrual status. Interest collected is recognized on a cash basis by crediting income when received. Loans may be restored to accrual status when all principal and interest are current and full repayment of the remaining contractual principal and interest are reasonably assured. As of June 30, 2021, the Company did not have nonaccrual loans.	Loans Held-for-Investment The Company has acquired, and may continue to acquire, loans related to real estate assets. Additionally, the Company may acquire and originate credit investments, including commercial mortgage loans, mezzanine loans, preferred equity, and other loans and securities related to commercial real estate assets, as well as corporate loan opportunities that are consistent with the Company’s investment strategy and objectives. The Company intends to hold the loans held-for-investment held-for-investment Interest earned is either received in cash or capitalized to loans held-for-investment held-for-investment
Allowance for Credit Losses	Allowance for Credit Losses The Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326) 2016-13”), 2016-13 held-for-investment 2016-13 2016-13 The Company has elected to use a discounted cash flow model to estimate the allowance for credit losses. This model requires the Company to develop cash flows which project estimated credit losses over the life of the loan and discount these cash flows at the asset’s effective interest rate. The Company then records an allowance for credit losses equal to the difference between the amortized cost basis of the asset and the present value of the expected cash flows. The Company considers loan investments that are both (i) expected to be substantially repaid through the operation or sale of the underlying collateral, and (ii) for which the borrower is experiencing financial difficulty, to be “collateral-dependent” loans. For such loans that the Company determines that foreclosure of the collateral is probable, the Company measures the expected losses based on the difference between the fair value of the collateral less costs to sell and the amortized cost basis of the loan as of the measurement date. For collateral-dependent loans that the Company determines foreclosure is not probable, the Company applies a practical expedient to estimate expected losses using the difference between the collateral’s fair value (less costs to sell the asset if repayment is expected through the sale of the collateral) and the amortized cost basis of the loan. For the Company’s broadly syndicated loans, the Company uses a probability of default and loss given default method using an underlying third-party CMBS/Commercial Real Estate (“CRE”) loan database with historical loan losses from 1998 to 2019. The Company may use other acceptable alternative approaches in the future depending on, among other factors, the type of loan, underlying collateral, and availability of relevant historical market loan loss data. The Company adopted ASU 2016-13 Quarterly, the Company evaluates the risk of all loans and assigns a risk rating based on a variety of factors, grouped as follows: (i) loan and credit structure, including the as-is loan-to-value Based on a 5-point 1- Outperform — Most satisfactory asset quality and liquidity, good leverage capacity. A “1” rating maintains predictable and strong cash flows from operations. The trends and outlook for the credit’s operations, balance sheet, and industry are neutral to favorable. Collateral, if appropriate, exceeds performance metrics; 2- Meets or Exceeds Expectations — Acceptable asset quality, moderate excess liquidity, modest leverage capacity. A “2” rating could have some financial/non-financial weaknesses which are offset by strengths; however, the credit demonstrates an ample current cash flow from operations. The trends and outlook for the credit’s operations, balance sheet, and industry are generally positive or neutral. Collateral performance, if appropriate, meets or exceeds substantially all performance metrics included in original or current underwriting / business plan; 3- Satisfactory — Acceptable asset quality, somewhat strained liquidity, minimal leverage capacity. A “3” rating is at times characterized by acceptable cash flows from operations. The trends and conditions of the credit’s operations and balance sheet are neutral. Collateral performance, if appropriate, meets or is on track to meet underwriting; business plan can reasonably be achieved; 4- Underperformance — The debt investment possesses credit deficiencies or potential weaknesses which deserve management’s close and continued attention. The portfolio company’s operations and/or balance sheet have demonstrated an adverse trend or deterioration which, while serious, has not reached the point where the liquidation of debt is jeopardized. These weaknesses are generally considered correctable by the borrower in the normal course of business but may weaken the asset or inadequately protect the Company’s credit position if not checked or corrected. Collateral performance, if appropriate, falls short of original underwriting, material differences exist from business plan, or both; technical milestones have been missed; defaults may exist, or may soon occur absent material improvement; and 5- Default/Possibility of Loss — The debt investment is protected inadequately by the current enterprise value or paying capacity of the obligor or of the collateral, if any. The underlying company’s operations have well-defined weaknesses based upon objective evidence, such as recurring or significant decreases in revenues and cash flows. Major variance from business plan; loan covenants or technical milestones have been breached; timely exit from loan via sale or refinancing is questionable; risk of principal loss. Collateral performance, if appropriate, is significantly worse than underwriting. The Company generally assigns a risk rating of “3” to all newly originated or acquired loans held-for-investment	Allowance for Credit Losses The Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326) 2016-13”), 2016-13 held-for-investment 2016-13 2016-13 The Company has elected to use a discounted cash flow model to estimate the allowance for credit losses. This model requires the Company to develop cash flows which project estimated credit losses over the life of the loan and discount these cash flows at the asset’s effective interest rate. The Company then records an allowance for credit losses equal to the difference between the amortized cost basis of the asset and the present value of the expected cash flows. The Company considers loan investments that are both (i) expected to be substantially repaid through the operation or sale of the underlying collateral, and (ii) for which the borrower is experiencing financial difficulty, to be “collateral-dependent” loans. For such loans that the Company determines that foreclosure of the collateral is probable, the Company measures the expected losses based on the difference between the fair value of the collateral less costs to sell and the amortized cost basis of the loan as of the measurement date. For collateral-dependent loans that the Company determines foreclosure is not probable, the Company applies a practical expedient to estimate expected losses using the difference between the collateral’s fair value (less costs to sell the asset if repayment is expected through the sale of the collateral) and the amortized cost basis of the loan. For the Company’s broadly syndicated loans, the Company uses a probability of default and loss given default method using an underlying third-party CMBS/Commercial Real Estate (“CRE”) loan database with historical loan losses from 1998 to 2019. The Company may use other acceptable alternative approaches in the future depending on, among other factors, the type of loan, underlying collateral, and availability of relevant historical market loan loss data. The Company adopted ASU 2016-13 cumulative-effective Quarterly, the Company evaluates the risk of all loans and assigns a risk rating based on a variety of factors, grouped as follows: (i) loan and credit structure, including the as-is loan-to-value 5-point 1- Outperform — Most satisfactory asset quality and liquidity, good leverage capacity. A “1” rating maintains predictable and strong cash flows from operations. The trends and outlook for the credit’s operations, balance sheet, and industry are neutral to favorable. Collateral, if appropriate, exceeds performance metrics; 2- Meets or Exceeds Expectations — Acceptable asset quality, moderate excess liquidity, modest leverage capacity. A “2” rating could have some financial/non-financial 3- Satisfactory — Acceptable asset quality, somewhat strained liquidity, minimal leverage capacity. A “3” rating is at times characterized by acceptable cash flows from operations. The trends and conditions of the credit’s operations and balance sheet are neutral. Collateral performance, if appropriate, meets or is on track to meet underwriting; business plan can reasonably be achieved; 4- Underperformance — The debt investment possesses credit deficiencies or potential weaknesses which deserve management’s close and continued attention. The portfolio company’s operations and/or balance sheet have demonstrated an adverse trend or deterioration which, while serious, has not reached the point where the liquidation of debt is jeopardized. These weaknesses are generally considered correctable by the borrower in the normal course of business but may weaken the asset or inadequately protect the Company’s credit position if not checked or corrected. Collateral performance, if appropriate, falls short of original underwriting, material differences exist from business plan, or both; technical milestones have been missed; defaults may exist, or may soon occur absent material improvement; and 5- Default/Possibility of Loss — The debt investment is protected inadequately by the current enterprise value or paying capacity of the obligor or of the collateral, if any. The underlying company’s operations has well-defined weaknesses based upon objective evidence, such as recurring or significant decreases in revenues and cash flows. Major variance from business plan; loan covenants or technical milestones have been breached; timely exit from loan via sale or refinancing is questionable; risk of principal loss. Collateral performance, if appropriate, is significantly worse than underwriting. The Company generally assigns a risk rating of “3” to all newly originated or acquired loans-held-for-investment
Deferred Financing Costs		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 before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facilities, 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 costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facilities and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2020 and 2019, the Company had $4.3 million and $2.3 million, respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facilities. 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.
Due to Affiliates		Due to Affiliates CMFT Management, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offerings and the acquisition, management, financing and leasing of the properties of the Company.
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 income. 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.
Redeemable Common Stock		Redeemable Common Stock Under the Company’s Amended Share Redemption Program, the Company’s obligation to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the Amended DRIP, net of shares redeemed to date. The Company records the maximum amount that is redeemable under the Amended Share Redemption Program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value. As of December 31, 2020, there was no redeemable common stock, as the Board approved the suspension of the share redemption program on August 30, 2020 in connection with our entry into the Merger Agreements.
Leases	Leases The Company has lease agreements with lease and non-lease non-lease Non-lease 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. The Company has an investment in a real estate property that is subject to a ground lease, for which a lease liability and right of use (“ROU”) asset of $2.4 million was recorded as of both June 30, 2021 and December 31, 2020. See Note 15 — Leases for a further discussion regarding this ground lease. 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. Development Activities Project costs and expenses, including interest incurred, associated with the development, construction and lease-up	Leases The Company has lease agreements with lease and non-lease non-lease Non-lease 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. The Company has an investment in a real estate property that is subject to a ground lease, for which a lease liability and right of use (“ROU”) asset of $2.4 million was recorded as of December 31, 2020. See Note 16 — Leases for a further discussion regarding this ground lease. 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	Revenue Recognition Revenue from leasing activities 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 condensed 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 During the six months ended June 30, 2021, 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 $591,000 for the six months ended June 30, 2021, which included $525,000 of straight-line rental income. These write-offs reduced rental and other property income during the six months ended June 30, 2021. Revenue from lending activities Interest income from the Company’s loans held-for-investment	Revenue Recognition Revenue from leasing activities 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 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 $5.6 million for the year ended December 31, 2020, which included $206,000 of straight-line rental income and $1.0 million related to certain tenant reimbursements that were written off during the year ended December 31, 2020. These write-offs Revenue from lending activities Interest income from the Company’s loans held-for-investment
Income Taxes		Income Taxes The Company elected to be taxed, and currently qualifies, as a REIT for federal income tax purposes under Sections 856 through 860 of the Code, commencing with the taxable year ended December 31, 2012. The Company will generally not be 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 or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
Earnings (Loss) and Distributions Per Share		Earnings (Loss) and Distributions Per Share Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share 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 daily distribution rate.
Reportable Segment	Reportable Segments During the year ended December 31, 2020, the Company updated its reportable segment information to reflect how the chief operating decision makers regularly review and manage the business and determined that it has two reportable segments: Credit Real estate See Note 16 — Segment Reporting for a further discussion regarding these segments.	Reportable Segments During the year ended December 31, 2020, the Company realigned the business and reportable segment information to reflect how the chief operating decision makers regularly review and manage the business and determined that it has two reportable segments: Credit Real estate See Note 17 — Segment Reporting for a further discussion regarding these segments.
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 condensed 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 current novel coronavirus (“COVID-19”) COVID-19 No. 2016-02, Leases (Topic 842) COVID-19 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 COVID-19 As of August 9, 2021, the Company has collected approximately 99% of rental payments billed to tenants during the three months ended June 30, 2021, and as of August 9, 2021, the Company collected $4.1 million of deferred rent, representing approximately 99% of amounts due through June 30, 2021. In January 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2021-01, Reference Rate Reform (Topic 848) 2021-01”). 2021-01 2021-01 2021-01.	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, No. 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses 2018-19”), No. 2019-04, 2019-05, No. 2019-10, No. 2019-11 No. 2020-02 2016-13 held-to-maturity 2016-13 2016-13 2018-19 No. 2016-02, Leases (Topic 842) . 2016-13 2018-19 2016-13 Held-For-Investment 2016-13. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”). 2018-13 average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 2018-13 2018-13 In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities 2018-17”). 2018-17 2018-17 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 COVID-19 COVID-19 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 COVID-19 lease-related 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 ranging from 12 months to 84 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 $3.7 million and deferred rental income of $1.3 million. As of March 24, 2021, the Company has collected approximately 98% 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) 2021-01”). 2021-01 2021-01.
Fair Value Measurements		The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Real estate-related securities performance such as prepayment speeds and default rates, as available. Depending upon the significance of the fair value inputs used in determining these fair values, these securities are valued using either Level 2 or Level 3 inputs. As of December 31, 2020, the Company concluded that $27.5 million of real estate-related securities fell under Level 2 and $10.7 million of real estate-related securities fell under Level 3. Credit facilities and notes payable Derivative instruments 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. Loans held-for-investment held-for-investment held-for-investment held-for-investment held-for-investment held-for-investment Other 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

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Estimated Useful Lives of Real Estate Assets By Class	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	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
Schedule of error corrections and prior period adjustments	The reclassifications have been made to the condensed consolidated statements of operations for the three and six months ended June 30, 2020 as follows (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As previously Reclassification As Revised As previously Reclassification As Revised Condensed Consolidated Statements of Operations General and administrative $ 4,235 $ (1,215 ) $ 3,020 $ 7,917 $ (2,015 ) $ 5,902 Management fees $ 11,398 $ (1,648 ) $ 9,750 $ 22,488 $ (2,888 ) $ 19,600 Transaction-related $ 330 $ (205 ) $ 125 $ 582 $ (332 ) $ 250 Expense reimbursements to related parties $ — $ 3,057 $ 3,057 $ — $ 5,235 $ 5,235 Interest expense and other, net $ 15,509 $ 11 $ 15,520 $ 31,276 $ — $ 31,276

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value of the company's financial assets and liabilities that are required to be 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 June 30, 2021 and December 31, 2020 (in thousands): Balance as of Quoted Prices in Active Identical Assets Significant Other Inputs (Level 2) Significant Inputs Financial assets: CMBS $ 42,071 $ — $ — $ 42,071 Interest rate caps — — — — Total financial assets $ 42,071 $ — $ — $ 42,071 Financial liabilities: Interest rate swaps $ (6,289 ) $ — $ (6,289 ) $ — Total financial liabilities $ (6,289 ) $ — $ (6,289 ) $ — Balance as of Quoted Prices in Active Identical Assets Significant Other Inputs (Level 2) Significant Inputs Financial assets: CMBS $ 38,194 $ — $ 27,461 $ 10,733 Total financial assets $ 38,194 $ — $ 27,461 $ 10,733 Financial liabilities: Interest rate swaps $ (12,308 ) $ — $ (12,308 ) $ — Total financial liabilities $ (12,308 ) $ — $ (12,308 ) $ —	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 Significant Other Significant Financial assets: CMBS $ 38,194 $ — $ 27,461 $ 10,733 Total financial assets $ 38,194 $ — $ 27,461 $ 10,733 Financial liabilities: Interest rate swaps $ (12,308 ) $ — $ (12,308 ) $ — Total financial liabilities $ (12,308 ) $ — $ (12,308 ) $ — Balance as of Quoted Prices in Significant Other Significant Financial assets: Interest rate swaps $ 261 $ — $ 261 $ — Total financial assets $ 261 $ — $ 261 $ — Financial liability: Interest rate swap $ (4,181 ) $ — $ (4,181 ) $ — Total financial liability $ (4,181 ) $ — $ (4,181 ) $ —
Reconciliation of the Changes in Liabilities With Level 3 Inputs	The following are reconciliations of the changes in financial assets with Level 3 inputs in the fair value hierarchy for the six months ended June 30, 2021 (in thousands): CMBS Beginning Balance, January 1, 2021 $ 10,733 Total gains and losses: Unrealized loss included in other comprehensive income (loss), net 1,804 Purchases and payments received: Purchases 34,491 Discounts, net (5,372 ) Capitalized interest income 435 Principal payments received (20 ) Ending Balance, June 30, 2021 $ 42,071	The following are reconciliations of the changes in financial assets with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2020 (in thousands): CMBS Beginning Balance, January 1, 2020 $ — Total gains and losses: Unrealized gain included in other comprehensive income, net 747 Purchases and payments received: Purchases 26,883 Premiums (discounts), net (16,875 ) Principal payments received (22 ) Ending Balance, December 31, 2020 $ 10,733
Summary of Discount Rates and Terminal Capitalization rates of the Company's Impairment Test	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 six months ended June 30, 2021: Six Months Ended June 30, 2021 Discount Rate Terminal Capitalization Rate 7.9% — 9.7% 7.4% — 9.2%	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 7.9%–9.7% 7.4%–9.2%
Summary of Impairment Charges by Asset Class	The following table presents the impairment charges by asset class recorded during the six months ended June 30, 2021 and 2020 (in thousands): Six Months Ended June 30, 2021 2020 Asset class impaired: Land $ 781 $ 3,541 Buildings, fixtures and improvements 3,496 11,315 Intangible lease assets 230 696 Intangible lease liabilities (130 ) (45 ) Total impairment loss $ 4,377 $ 15,507	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 $ 3,738 $ 12,648 $ 6,436 Buildings, fixtures and improvements 12,310 56,572 25,299 Intangible lease assets 737 4,056 1,385 Intangible lease liabilities (48 ) (337 ) (145 ) Total impairment loss $ 16,737 $ 72,939 $ 32,975

REAL ESTATE ASSETS (Tables)

REAL ESTATE ASSETS (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Real Estate [Abstract]
Schedule of purchase price allocation for asset acquisition	The following table summarizes the purchase price allocation for the real estate acquired via foreclosure (in thousands): As of June 30, 2021 Buildings, fixtures and improvements $ 192,182 Acquired in-place 134 Intangible lease liabilities (326 ) Total purchase price $ 191,990 The following table summarizes the purchase price allocation for the 2020 Property Acquisition (in thousands): 2020 Property Acquisition Land $ 1,417 Buildings, fixtures and improvements 2,800 Acquired in-place (1) 442 Total purchase price $ 4,659 (1) The amortization period for acquired in-place	The following table summarizes the purchase price allocation for the 2020 Property Acquisitions (in thousands): 2020 Property Acquisitions Land $ 166,395 Buildings, fixtures and improvements 571,777 Acquired in-place leases and other intangibles (1) 74,888 Acquired above-market leases (2) 2,367 Intangible lease liabilities (3) (16,927 ) Total purchase price $ 798,500 (1) The amortization period for acquired in-place leases and other intangibles is 8.9 years. (2) The amortization period for acquired above-market leases is 6.5 years. (3) The amortization period for acquired intangible lease liabilities is 9.7 years. The following table summarizes the purchase price allocation for the 2019 Property Acquisition (in thousands): 2019 Property Acquisition Land $ 1,501 Buildings, fixtures and improvements 3,804 Acquired in-place leases and other intangibles (1) 860 Total purchase price $ 6,165 (1) The amortization period for acquired in-place leases and other intangibles is 20.1 years. The following table summarizes the purchase price allocation for the 2018 Acquisition (in thousands): 2018 Acquisition Land $ 2,107 Buildings, fixtures and improvements 9,044 Acquired in-place leases and other intangibles (1) 1,392 Intangible lease liabilities (2) (638 ) Total purchase price $ 11,905 (1) The amortization period for acquired in-place leases and other intangibles is 19.0 years. (2) The amortization period for acquired intangible lease liabilities is 19.0 years.

INTANGIBLE LEASE ASSETS AND L_2

INTANGIBLE LEASE ASSETS AND LIABILITIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-lived Intangible Assets and Liabilities	Intangible lease assets and liabilities consisted of the following as of June 30, 2021 and December 31, 2020 (in thousands, except weighted average life remaining): June 30, 2021 December 31, 2020 Intangible lease assets: In-place $ 187,922 $ 217,431 Acquired above-market leases, net of accumulated amortization of $22,746 and $22,054, respectively (with a weighted average life remaining of 7.5 years and 7.6 years, respectively) 15,467 17,112 Total intangible lease assets, net $ 203,389 $ 234,543 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $34,297 and $31,933, respectively (with a weighted average life remaining of 7.4 years and 7.5 years, respectively) $ 27,917 $ 32,718	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 $132,967 and $111,670, respectively (with a weighted average life remaining of 9.7 years and 10.4 years, respectively) $ 217,431 $ 164,724 Acquired above-market leases, net of accumulated amortization of $22,054 and $19,310, respectively (with aweighted average life remaining of 7.6 years and 7.9 years, respectively) 17,112 17,423 Total intangible lease assets, net $ 234,543 $ 182,147 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $31,933 and $25,800, respectively (with aweighted average life remaining of 7.5 years and 7.3 years, respectively) $ 32,718 $ 20,523
Schedule of Amortization Expense Related to the Intangible Lease Assets	The following table summarizes the amortization related to the intangible lease assets and liabilities for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 In-place $ 7,428 $ 5,615 $ 15,201 $ 11,555 Above-market lease amortization $ 599 $ 729 $ 1,249 $ 1,637 Below-market lease amortization $ 1,377 $ 1,267 $ 2,843 $ 2,666	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 $ 23,262 $ 32,058 $ 45,559 Above-market lease amortization $ 3,095 $ 4,315 $ 6,740 Below-market lease amortization $ 5,309 $ 6,253 $ 8,448
Schedule of Finite-lived Intangible Assets, Future Amortization Expense	As of June 30, 2021, the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization In-Place Leases and Above-Market Leases Below-Market Leases Remainder of 2021 $ 14,027 $ 1,188 $ 2,541 2022 26,209 2,281 4,496 2023 23,027 2,028 3,832 2024 19,849 1,533 2,872 2025 16,071 1,292 2,503 Thereafter 88,739 7,145 11,673 Total $ 187,922 $ 15,467 $ 27,917	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 Above-Market Leases Below-Market Leases 2021 $ 30,108 $ 2,489 $ 5,499 2022 $ 27,756 $ 2,345 $ 4,770 2023 $ 24,547 $ 2,086 $ 4,101 2024 $ 21,317 $ 1,576 $ 3,138 2025 $ 17,534 $ 1,334 $ 2,779 Thereafter $ 96,169 $ 7,282 $ 12,431 Total $ 217,431 $ 17,112 $ 32,718

REAL ESTATE-RELATED SECURITIES

REAL ESTATE-RELATED SECURITIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Securities Available for Sale	The following is a summary of the Company’s real estate-related securities as of June 30, 2021 (in thousands): Real Estate-Related Securities Amortized Cost Basis Unrealized Gain Fair Value CMBS $ 39,520 $ 2,551 $ 42,071 Total real estate-related securities $ 39,520 $ 2,551 $ 42,071 The following table provides the activity for the real estate-related securities during the six months ended June 30, 2021 (in thousands): Amortized Cost Basis Unrealized Gain Fair Value Real estate-related securities as of January 1, 2021 $ 37,047 $ 1,147 $ 38,194 Face value of real estate-related securities acquired 34,491 — 34,491 Premiums and discounts on purchase of real estate-related (5,982 ) — (5,982 ) Amortization of discount on real estate-related securities 525 — 525 Sale of real estate-related securities (26,976 ) (648 ) (27,624 ) Capitalized interest income on real estate-related securities 435 — 435 Principal payments received on real estate-related securities (20 ) — (20 ) Unrealized gain on real estate-related securities — 2,052 2,052 Real estate-related $ 39,520 $ 2,551 $ 42,071 The scheduled maturities of the Company’s real estate-related Available-for-sale securities Amortized Cost Estimated Fair Value Due within one year $ — $ — Due after one year through five years — — Due after five years through ten years — — Due after ten years 39,520 42,071 Total $ 39,520 $ 42,071	The following is a summary of the Company’s real estate-related securities as of December 31, 2020 (in thousands): Real Estate-Related Securities Amortized Unrealized Fair CMBS $ 37,047 $ 1,147 $ 38,194 Total real estate-related securities $ 37,047 $ 1,147 $ 38,194 The following table provides the activity for the real estate-related securities during the year ended December 31, 2020 (in thousands): Amortized Unrealized Fair Real estate-related securities as of January 1, 2020 $ — $ — $ — Face value of real estate-related securities acquired 91,440 — 91,440 Premiums and discounts on purchase of real estate-related securities, net of acquisition costs (14,796 ) — (14,796 ) Amortization of discount (premium) on real estate-related securities 57 — 57 Principal payments received on real estate-related securities (2,571 ) — (2,571 ) Sale of real estate-related securities (37,083 ) (510 ) (37,593 ) Unrealized gain on real estate-related securities — 1,657 1,657 Real estate-related securities as of December 31, 2020 $ 37,047 $ 1,147 $ 38,194 The scheduled maturities of the Company’s real estate-related securities as of December 31, 2020 are as follows (in thousands): Available-for-sale securities Amortized Cost Estimated Fair Value Due within one year $ — $ — Due after one year through five years 27,061 27,461 Due after five years through ten years — — Due after ten years 9,986 10,733 Total $ 37,047 $ 38,194

LOANS HELD-FOR-INVESTMENT (Tabl

LOANS HELD-FOR-INVESTMENT (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Schedule of Allowance for Financing Receivable	The Company’s loans held-for-investment As of June 30, 2021 As of December 31, 2020 Mezzanine loans $ — $ 147,475 Senior loans 872,188 341,546 Total CRE loans held-for-investment 872,188 489,021 Broadly syndicated loans 484,059 473,603 Loans held-for-investment $ 1,356,247 $ 962,624 Less: Allowance for credit losses $ (13,011) $ (70,358 ) Total loans held-for-investment $ 1,343,236 $ 892,266 The following table details overall statistics for the Company’s loans held-for-investment CRE Loans (1) (2) Broadly Syndicated Loans June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Number of loans 10 12 237 194 Principal balance $ 882,505 $ 481,438 $ 487,121 $ 477,777 Net book value $ 865,722 $ 428,393 $ 477,514 $ 463,873 Weighted-average interest rate 4.2 % 7.5 % 3.6 % 3.8 % Weighted-average maximum years to maturity 2.6 2.2 5.0 4.9 (1) As of June 30, 2021, 100% of the Company’s CRE loans by principal balance earned a floating rate of interest, primarily indexed to U.S. dollar LIBOR. (2) Maximum maturity date assumes all extension options are exercised by the borrower; however, the Company’s CRE loans may be repaid prior to such date. Activity relating to the Company’s loans held-for-investment Principal Balance Deferred Fees / Other Items (1) Loan Fees Receivable Net Book Value Balance, December 31, 2020 $ 959,215 $ (74,116 ) $ 7,167 $ 892,266 Loan originations and acquisitions 681,580 — — 681,580 Cure payments receivable (2) — (7,351 ) — (7,351 ) Sale of loans (36,664 ) 311 — (36,353 ) Principal repayments received (97,716 ) 257 — (97,459 ) Capitalized interest (2) (9,469 ) — — (9,469 ) Deferred fees and other items — (5,886 ) — (5,886 ) Accretion and amortization of fees and other items — (783 ) — (783 ) Foreclosure of assets (2) (127,320 ) 3,831 (7,167 ) (130,656 ) Allowance for credit losses (3) — 57,347 — 57,347 Balance, June 30, 2021 $ 1,369,626 $ (26,390 ) $ — $ 1,343,236 (1) Other items primarily consist of allowance for credit losses (as discussed below), purchase discounts or premiums, accretion of exit fees and deferred origination expenses. (2) During the six months ended June 30, 2021, the Company completed foreclosure of the assets which previously secured its eight mezzanine loans. (3) Includes the reversal of the allowance for credit losses related to the mezzanine loans upon foreclosure of the assets which previously secured the loans, as further discussed below in “Allowance for Credit Losses,” partially offset by the increase in allowance for credit losses related to the Company’s loans held- for-investment The following table presents the activity in the Company’s allowance for credit losses by loan type for the six months ended June 30, 2021 (dollar amounts in thousands): Mezzanine Loans Senior Loans Broadly Syndicated Loans Total Allowance for credit losses as of December 31, 2020 $ 58,038 $ 2,590 $ 9,730 $ 70,358 Foreclosure of assets (1) (58,038 ) — — (58,038 ) Provision for credit losses — 1,295 (727 ) 568 Allowance for credit losses as of March 31, 2021 $ — $ 3,885 $ 9,003 $ 12,888 Provision for (reversal of) credit losses — 2,581 (2,458 ) 123 Allowance for credit losses as of June 30, 2021 $ — $ 6,466 $ 6,545 $ 13,011 (1) During the six months ended June 30, 2021, the Company completed foreclosure of the assets which previously secured its eight mezzanine loans.	The Company’s loans held-for-investment consisted of the following as of December 31, 2020 and 2019 (dollar amounts in thousands): As of December 31, 2020 2019 Mezzanine loans $ 147,475 $ 146,060 Senior loans 341,546 152,820 Total CRE loans-held-for-investment and related receivables, net 489,021 298,880 Broadly syndicated loans 473,603 2,750 Loans held-for-investment and related receivables, net $ 962,624 $ 301,630 Less: Allowance for credit losses $ (70,358 ) $ — Total loans-held-for-investment and related receivable, net $ 892,266 $ 301,630 The following table details overall statistics for the Company’s loans held-for-investment as of December 31, 2020 and 2019 (dollar amounts in thousands): CRE Loans (1) (2) Broadly Syndicated Loans As of December 31, As of December 31, 2020 2019 2020 2019 Number of loans 12 11 194 1 Principal balance $ 481,438 $ 297,357 $ 477,777 $ 2,750 Net book value $ 428,393 $ 298,880 $ 463,873 $ 2,750 Weighted-average interest rate 7.5 % 8.9 % 3.8 % 4.5 % Weighted-average maximum years to maturity 2.2 2.9 4.9 5.2 (1) As of December 31, 2020, 100% of the Company’s loans by principal balance earned a floating rate of interest, primarily indexed to U.S. dollar LIBOR. (2) Maximum maturity date assumes all extension options are exercised by the borrowers; however, the Company’s CRE loans may be repaid prior to such date. Activity relating to the Company’s loans held-for-investment portfolio was as follows for the years ended December 31, 2020 and 2019 (dollar amounts in thousands): Principal Deferred (1) Loan Fees Net Book Balance, January 1, 2019 $ 89,679 $ (6,540 ) $ 6,623 $ 89,762 Loan originations and acquisitions 219,096 (417 ) 1,085 219,764 Principal repayments received (17,186 ) — — (17,186 ) Capitalized interest (2) 8,546 — — 8,546 Deferred fees and other items — (1,531 ) (166 ) (1,697 ) Accretion and amortization of fees and other items — 2,441 — 2,441 Balance, December 31, 2019 $ 300,135 $ (6,047 ) $ 7,542 $ 301,630 Loan originations and acquisitions 820,015 (5 ) 5 820,015 Cure payments receivable (3) — 7,351 — 7,351 Sale of loans (42,031 ) 1,392 — (40,639 ) Principal repayments received (4) (119,443 ) — — (119,443 ) Capitalized interest (2) 539 — — 539 Deferred fees and other items — (8,969 ) (380 ) (9,349 ) Accretion and amortization of fees and other items — 2,520 — 2,520 Allowance for credit losses (5) — (70,358 ) — (70,358 ) Balance, December 31, 2020 $ 959,215 $ (74,116 ) $ 7,167 $ 892,266 (1) Other items primarily consist of purchase discounts or premiums, accretion of exit fees and deferred origination expenses. (2) Represents accrued interest on loans whose terms do not require a current cash payment of interest. (3) Represents operating expenses related to the mezzanine loans paid by the Company on the borrower’s behalf in connection with the foreclosure proceedings that commenced during the year ended December 31, 2020, as further discussed below in “Allowance for Credit Losses.” (4) Includes the repayment of a $40.8 million senior loan prior to the maturity date. (5) Includes the initial allowance for credit losses against the loans held-for-investment recorded on January 1, 2020 and the increase in allowance for credit losses related to its loans held-for-investment during the year ended December 31, 2020, as further discussed below in “Allowance for Credit Losses.” The following table presents the activity in the Company’s allowance for credit losses by loan type for the year ended December 31, 2020 (dollar amounts in thousands): Mezzanine Senior Broadly Total Allowance for credit losses as of December 31, 2019 $ — $ — $ — $ — Transition adjustment on January 1, 2020 1,494 468 40 2,002 Provision for credit losses 13,047 341 4,389 17,777 Allowance for credit losses as of March 31, 2020 14,541 809 4,429 19,779 Provision for credit losses 6,728 (317 ) 1,494 7,905 Allowance for credit losses as of June 30, 2020 21,269 492 5,923 27,684 Provision for credit losses 3,601 1,390 2,364 7,355 Allowance for credit losses as of September 30, 2020 24,870 1,882 8,287 35,039 Provision for credit losses 33,168 708 1,443 35,319 Allowance for credit losses as of December 31, 2020 $ 58,038 $ 2,590 $ 9,730 $ 70,358
Schedule of Financing Receivable Credit Quality Indicators	The following table presents the net book value of the Company’s loans held-for-investment Number of Loans Amortized Cost of Loans Held-For-Investment (1) As of June 30, 2021 2021 2020 2019 Total Senior loans by internal risk rating: 1 — $ — $ — $ — $ — 2 — — — — — 3 10 521,699 234,248 116,241 872,188 4 — — — — — 5 — — — — — Total senior loans 10 521,699 234,248 116,241 872,188 Broadly syndicated loans by internal risk rating: 1 — — — — — 2 3 — 6,889 — 6,889 3 233 120,536 349,670 3,050 473,256 4 1 — 3,914 — 3,914 5 — — — — — Total broadly syndicated loans 237 120,536 360,473 3,050 484,059 Less: Allowance for credit losses (13,011 ) Total loans held-for-investment 247 $ 1,343,236 Weighted Average Risk Rating (2) 3.0 (1) Date loan was originated or acquired by the Company. Origination dates are subsequently updated to reflect material loan modifications. (2) Weighted average risk rating calculated based on carrying value at period end.	The Company’s primary credit quality indicator is its risk ratings, which are further discussed above. The following table presents the net book value of the Company’s loans-held-for-investment portfolio as of December 31, 2020 by year of origination, loan type, and risk rating (dollar amounts in thousands): Amortized Cost of Loans Held-For-Investment by (1) As of December 31, 2020 Number 2020 2019 2018 Total Mezzanine loans by internal risk rating: 1 — $ — $ — $ — $ — 2 — — — — — 3 — — — — — 4 — — — — — 5 8 — 57,045 90,430 147,475 Total mezzanine loans 8 — 57,045 90,430 147,475 Senior loans by internal risk rating: 1 — — — — — 2 — — — — — 3 4 225,822 115,724 — 341,546 4 — — — — — 5 — — — — — Total senior loans 4 225,822 115,724 — 341,546 Broadly syndicated loans by internal risk rating: 1 — — — — — 2 3 6,880 — — 6,880 3 189 456,711 2,739 — 459,450 4 2 7,273 — — 7,273 5 — — — — — Total broadly syndicated loans 194 470,864 2,739 — 473,603 Less: Allowance for credit losses (70,358 ) Total loans-held-for-investment and related receivables, net 206 $ 892,266 Weighted Average Risk Rating (2) 3.3 (1) Date loan was originated or acquired by the Company. Origination dates are subsequently updated to reflect material loan modifications. (2) Weighted average risk rating calculated based on carrying value at period end.

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table summarizes the terms of the Company’s interest rate swap agreements and interest rate cap agreements as of June 30, 2021 and December 31, 2020 (dollar amounts in thousands): Outstanding Fair Value of Assets Balance Sheet Location Interest Effective Maturity June 30, 2021 December 31, 2020 Interest Rate Caps Prepaid expenses and other assets $ 102,553 5.45% (1) 5/7/2021 5/9/2022 $ — $ — Interest Rate Swaps Deferred rental income, derivative liabilities and other liabilities $ 241,500 2.55% to (2) 6/29/2016 to 7/1/2021 to $(6,289) $ (12,308 ) (1) The interest rate consists of the underlying index capped to a fixed rate as of June 30, 2021. (2) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of June 30, 2021.	The following table summarizes the terms of the Company’s interest rate swap agreements designated as hedging instruments as of December 31, 2020 and 2019 (dollar amounts in thousands): Balance Sheet Location Outstanding Notional Interest Rates (1) Effective Maturity Fair Value of Liabilities as of December 31, December 31, (2) Interest Rate Swaps Derivative liabilities, $ 1,085,266 2.55% to 4.50% 6/29/2016 3/15/2021 $ (12,308 ) $ (4,181 ) (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, the Company had two interest rate swap agreements in an asset position with a notional amount of $60.0 million and a fair value of $261,000 included in prepaid expenses and other assets on the consolidated balance sheets.

CREDIT FACILITIES, NOTES PAYA_2

CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the debt balances as of June 30, 2021 and December 31, 2020, and the debt activity for the six months ended June 30, 2021 (in thousands): During the Six Months Ended June 30, 2021 Balance as of 2020 Debt Issuances & (1) Repayments & (2) Accretion and (Amortization) Balance as of June 30, 2021 Notes payable — fixed rate debt $ 578,096 $ — $ (54,534 ) $ — $ 523,562 Notes payable — variable rate debt — 102,553 (8,351 ) — 94,202 Credit facilities 1,336,500 320,000 (235,000 ) — 1,421,500 Repurchase facilities 235,380 270,182 (136 ) — 505,426 Total debt 2,149,976 692,735 (298,021 ) — 2,544,690 Net premiums (3) 149 — — (149 ) — Deferred costs — credit facility (4) (3,543 ) — — 1,466 (2,077 ) Deferred costs — fixed rate debt (1,589 ) — 45 374 (1,170 ) Deferred costs — variable rate debt — (1,346 ) — 712 (634 ) Total debt, net $ 2,144,993 $ 691,389 $ (297,976 ) $ 2,403 $ 2,540,809 (1) Includes deferred financing costs incurred during the period. (2) In connection with the repayment of certain mortgage notes, the Company recognized a loss on extinguishment of debt of $1.5 million during the six months ended June 30, 2021. (3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (4) Deferred costs related to the term portion of the CMFT Credit Facility (as defined below).	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 & (1) Repayments & (2) Accretion & Balance as of Notes payable $ 726,261 $ 92,212 (5) $ (240,377 ) $ — $ 578,096 Credit facilities 885,000 629,025 (6) (177,525 ) — 1,336,500 Repurchase facilities — 235,380 — — 235,380 Total debt 1,611,261 956,617 (417,902 ) — 2,149,976 Net premiums (3) 241 — — (92 ) 149 Deferred costs — credit facility (4) (3,933 ) (1,440 ) — (7) 1,830 (3,543 ) Deferred costs — fixed rate debt (2,709 ) — 186 (7) 934 (1,589 ) Total debt, net $ 1,604,860 $ 955,177 $ (417,716 ) $ 2,672 $ 2,144,993 (1) Includes deferred financing costs incurred during the period. (2) In connection with the repayment of certain mortgage notes, the Company recognized a loss on extinguishment of debt of $4.8 million during the year ended December 31, 2020. (3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (4) Deferred costs related to the term portion of the CMFT Credit Facility (as defined below). (5) Represents fixed rate debt assumed upon completion of the Mergers during the year ended December 31, 2020. (6) Includes credit facility borrowings of $287.5 million assumed upon completion of the Mergers during the year ended December 31, 2020. (7) Represents deferred financing costs written off during the period resulting from debt repayments prior to the respective maturity dates.
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to June 30, 2021 (in thousands): Principal Repayments Remainder of 2021 $ 105,171 2022 1,207,098 2023 757,442 2024 474,979 2025 — Thereafter — Total $ 2,544,690	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 2021 $ 138,210 2022 1,134,391 2023 554,783 2024 322,592 2025 — Thereafter — Total $ 2,149,976

SUPPLEMENTAL CASH FLOW DISCLO_2

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow disclosures	Supplemental cash flow disclosures for the six months ended June 30, 2021 and 2020 are as follows (in thousands): Six Months Ended 2021 2020 Supplemental Disclosures of Non-Cash Distributions declared and unpaid $ 10,997 $ 4,990 Accrued capital expenditures $ 4,104 $ 139 Accrued deferred financing costs $ 32 $ — Real estate acquired via foreclosure $ 191,990 $ — Foreclosure of assets securing the mezzanine loans $ (79,968 ) $ — Mortgage notes payable assumed in connection with foreclosure of assets securing the mezzanine loans $ 102,553 $ — Change in interest income capitalized to loans held-for-investment $ (9,469 ) $ 539 Common stock issued through distribution reinvestment plan $ 6,660 $ 28,774 Change in fair value of derivative instruments $ 6,031 $ (7,280 ) Change in fair value of real estate-related securities $ 1,404 $ — Supplemental Cash Flow Disclosures: Interest paid $ 34,183 $ 30,686 Cash paid for taxes $ 1,412 $ 466	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: Distributions declared and unpaid $ 10,969 $ 16,510 $ 16,518 Accrued capital expenditures $ 160 $ 1,165 $ 557 Interest income capitalized to loans held-for-investment $ 539 $ 8,546 $ 384 Common stock issued through distribution reinvestment plan $ 34,191 $ 82,388 $ 91,764 Common stock issued in connection with the Mergers $ 384,319 $ — $ — Change in fair value of interest rate swaps $ 727 $ (14,913 ) $ 3,875 Interest rate swaps assumed in the Mergers $ (9,115 ) $ — $ — Mortgage notes assumed by buyer in real estate disposition $ — $ (205,765 ) $ — Debt assumed in the Mergers $ 379,737 $ — $ — Real estate assets acquired in the Mergers $ 761,326 $ — $ — Assets assumed in the Mergers $ 4,424 $ — $ — Liabilities assumed in the Mergers $ 6,389 $ — $ — Supplemental Cash Flow Disclosures: Interest paid $ 60,990 $ 97,418 $ 93,424 Cash paid for taxes $ 1,243 $ 1,218 $ 1,475

RELATED-PARTY TRANSACTIONS AN_2

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company recorded fees and expense reimbursements as shown in the table below for services provided by CMFT Management or its affiliates related to the services described above during the periods indicated (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Management fees $ 11,755 $ 9,750 $ 23,332 $ 19,600 Disposition fees $ — $ — $ — $ 341 Expense reimbursements to related parties $ 3,210 $ 3,057 $ 5,871 $ 5,235	The Company recorded fees and expense reimbursements as shown in the table below for services provided by CMFT Management or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2020 2019 2018 Management fees and expenses $ 44,744 $ 16,350 (1) $ — Acquisition fees and expenses $ 550 $ 2,110 $ 2,749 Disposition fees $ 434 $ 3,967 $ 478 Advisory fees and expenses $ — $ 25,989 $ 43,399 Operating expenses $ 3,651 (2) $ 3,594 $ 5,163 (1) Includes manager reimbursements incurred subject to the Management Agreement. (2) Includes $308,000 of merger-related expenses incurred subject to the Merger Agreements and the terminated CCIT II Merger Agreement, net of $260,000 which was reimbursed by CCIT II.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Distribution Amount Per Share	Prior to April 1, 2020, on a quarterly basis, the Board authorized a daily distribution for the succeeding quarter. The Board authorized the following daily distribution amounts per share for the periods indicated below: Period Commencing Period Ending Daily Distribution Amount April 14, 2012 December 31, 2012 $0.001707848 January 1, 2013 December 31, 2015 $0.001712523 January 1, 2016 December 31, 2016 $0.001706776 January 1, 2017 December 31, 2019 $0.001711452 January 1, 2020 March 31, 2020 $0.001706776 Record Date Distribution Amount April 30, 2020 $0.0130 May 31, 2020 $0.0130 June 30, 2020 $0.0161 July 30, 2020 $0.0304 August 28, 2020 $0.0303 September 29, 2020 $0.0303 October 29, 2020 $0.0303 November 27, 2020 $0.0303 December 30, 2020 $0.0303 January 28, 2021 $0.0303 February 25, 2021 $0.0303 March 29, 2021 $0.0303 April 29 2021 $0.0303 May 28, 2021 $0.0303 June 29, 2021 $0.0303

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 — % 39 % 52 % Nondividend distributions 100 % 7 % 48 % Capital gain distributions — % 54 % — % Total 100 % 100 % 100 %

LEASES (Tables)

LEASES (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Schedule of Future Minimum Rental Income for Operating Leases - ASC 842	As of June 30, 2021, the future minimum rental income from the Company’s real estate assets under non-cancelable Future Minimum Rental Income Remainder of 2021 $ 118,547 2022 234,443 2023 218,823 2024 200,270 2025 181,734 Thereafter 1,125,513 Total $ 2,079,330	As of December 31, 2020, the future minimum rental income from the Company’s real estate assets under non-cancelable Year Ending December 31, Future Minimum Rental Income 2021 $ 255,071 2022 249,576 2023 232,486 2024 212,373 2025 192,954 Thereafter 1,242,601 Total $ 2,385,061
Schedule of Components of Lease Income	Rental and other property income during the three and six months ended June 30, 2021 and 2020 consisted of the following (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Fixed rental and other property income (1) $ 64,060 $ 51,423 $ 130,601 $ 108,096 Variable rental and other property income (2) 11,242 8,680 21,631 20,443 Total rental and other property income $ 75,302 $ 60,103 $ 152,232 $ 128,539 (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. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent.	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) $ 221,445 $ 342,453 $ 368,847 Variable rental and other property income (2) 40,085 50,771 60,789 Total rental and other property income $ 261,530 $ 393,224 $ 429,636 (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. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent.

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Information	The following tables present segment reporting for the three and six months ended June 30, 2021 and 2020 (in thousands): Real Estate Credit Corporate/Other (1) Company Total Three Months Ended June 30, 2021 Rental and other property income $ 75,203 $ — $ 99 $ 75,302 Interest income — 16,460 — 16,460 Total revenues 75,203 16,460 99 91,762 General and administrative 55 331 3,219 3,605 Property operating 7,613 — 3,743 11,356 Real estate tax 7,196 — 510 7,706 Expense reimbursements to related parties — — 3,210 3,210 Management fees 8,533 3,222 — 11,755 Transaction-related 27 — — 27 Depreciation and amortization 24,647 — — 24,647 Real estate impairment 77 — — 77 Provision for credit losses — 123 — 123 Total operating expenses 48,148 3,676 10,682 62,506 Gain on disposition of real estate and condominium developments, net 44,976 — 1,493 46,469 Operating income (loss) 72,031 12,784 (9,090 ) 75,725 Other expense: Interest expense and other, net (3,713 ) (3,341 ) (9,406 ) (16,460 ) Loss on extinguishment of debt (1,372 ) — (106 ) (1,478 ) Segment net income (loss) $ 66,946 $ 9,443 $ (18,602 ) $ 57,787 Total assets as of June 30, 2021 $ 3,089,744 $ 1,479,061 $ 280,357 $ 4,849,162 (1) Includes condominium and rental units acquired via foreclosure during the six months ended June 30, 2021. During the year ended December 31, 2019, the borrower on the Company’s eight mezzanine loans became delinquent on certain required reserve payments. Throughout 2020, the borrower remained delinquent on the required reserve payments and became delinquent on principal and interest. As a result, the Company classified the loans as a troubled debt restructuring and commenced foreclosure proceedings. Upon completing foreclosure in January 2021, the Company took control of the assets which previously secured its mezzanine loans. Real Estate Credit Corporate/Other (1) Company Total Six Months Ended June 30, 2021 Rental and other property income $ 151,998 $ — $ 234 $ 152,232 Interest income — 28,413 — 28,413 Total revenues 151,998 28,413 234 180,645 General and administrative 119 713 7,201 8,033 Property operating 14,742 — 6,733 21,475 Real estate tax 15,065 — 4,860 19,925 Expense reimbursements to related parties — — 5,871 5,871 Management fees 17,864 5,468 — 23,332 Transaction-related 31 — — 31 Depreciation and amortization 50,385 — — 50,385 Real estate impairment 4,377 — — 4,377 Provision for credit losses — 691 — 691 Total operating expenses 102,583 6,872 24,665 134,120 Gain on disposition of real estate and condominium developments, net 44,976 — 1,493 46,469 Operating income (loss) 94,391 21,541 (22,938) 92,994 Other expense: Interest expense and other, net (7,829) (6,888) (21,765) (36,482) Loss on extinguishment of debt (1,372) — (106) (1,478) Segment net income (loss) $ 85,190 $ 14,653 $ (44,809) $ 55,034 Total assets as of June 30, 2021 $ 3,089,744 $ 1,479,061 $ 280,357 $ 4,849,162 (1) Includes condominium and rental units acquired via foreclosure during the six months ended June 30, 2021. During the year ended December 31, 2019, the borrower on the Company’s eight mezzanine loans became delinquent on certain required reserve payments. Throughout 2020, the borrower remained delinquent on the required reserve payments and became delinquent on principal and interest. As a result, the Company classified the loans as a troubled debt restructuring and commenced foreclosure proceedings. Upon completing foreclosure in January 2021, The Company took control of the assets which previously secured its mezzanine loans. Real Estate Credit Corporate/Other Company Total Three Months Ended June 30, 2020 Rental and other property income $ 60,103 $ — $ — $ 60,103 Interest income — 7,193 — 7,193 Total revenues 60,103 7,193 — 67,296 General and administrative 55 512 2,453 3,020 Property operating 4,811 — — 4,811 Real estate tax 6,748 — — 6,748 Expense reimbursements to related parties — — 3,057 3,057 Management fees 8,042 1,708 — 9,750 Transaction-related 120 5 — 125 Depreciation and amortization 19,696 — — 19,696 Real estate impairment 3,831 — — 3,831 Provision for credit losses — 7,905 — 7,905 Total operating expenses 43,303 10,130 5,510 58,943 Gain on disposition of real estate, net 3,791 — — 3,791 Merger-related expenses, net — — — — Merger termination fee income — — — — Operating income (loss) 20,591 (2,937 ) (5,510 ) 12,144 Other expense: Interest expense and other, net (5,560 ) (762 ) (9,198 ) (15,520 ) Loss on extinguishment of debt (12 ) — (358 ) (370 ) Segment net income (loss) $ 15,019 $ (3,699 ) $ (15,066 ) $ (3,746 ) Total assets as of June 30, 2020 $ 2,712,707 $ 708,084 $ 243,544 $ 3,664,335 Real Estate Credit Corporate/Other Company Total Six Months Ended June 30, 2020 Rental and other property income $ 128,539 $ — $ — $ 128,539 Interest income — 12,764 — 12,764 Total revenues 128,539 12,764 — 141,303 General and administrative 117 524 5,261 5,902 Property operating 11,676 — — 11,676 Real estate tax 13,726 — — 13,726 Expense reimbursements to related parties — — 5,235 5,235 Management fees 17,523 2,077 — 19,600 Transaction-related 245 5 — 250 Depreciation and amortization 40,519 — — 40,519 Real estate impairment 15,507 — — 15,507 Provision for credit losses — 25,682 — 25,682 Total operating expenses 99,313 28,288 10,496 138,097 Gain on disposition of real estate, net 16,901 — — 16,901 Operating income (loss) 46,127 (15,524 ) (10,496 ) 20,107 Other expense: Interest expense and other, net (11,895 ) (562 ) (18,819 ) (31,276 ) Loss on extinguishment of debt (4,394 ) — (358 ) (4,752 ) Segment net income (loss) $ 29,838 $ (16,086 ) $ (29,673 ) $ (15,921 ) Total assets as of June 30, 2020 $ 2,712,707 $ 708,084 $ 243,544 $ 3,664,335	The following tables present segment reporting for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 Real Estate Credit Corporate/Other Company Total Rental and other property income $ 261,530 $ — $ — $ 261,530 Interest income — 29,393 — 29,393 Total revenues 261,530 29,393 — 290,923 General and administrative 291 2,080 13,014 15,385 Property operating 23,399 — — 23,399 Real estate tax 27,691 — — 27,691 Management and advisory fees and expenses 32,164 7,861 4,718 44,743 Transaction-related 346 9 550 905 Depreciation and amortization 80,973 — — 80,973 Impairment 16,737 — — 16,737 Provision for credit losses — 68,356 — 68,356 Total operating expenses 181,601 78,306 18,282 278,189 Gain on disposition of real estate, net 27,518 — — 27,518 Merger-related expenses — — (2,193 ) (2,193 ) Merger termination fee income — — 7,380 7,380 Operating income (loss) 107,447 (48,913 ) (13,095 ) 45,439 Other expense: Interest expense and other, net (21,380 ) (5,101 ) (37,635 ) (64,116 ) Loss on extinguishment of debt (4,394 ) — (447 ) (4,841 ) Segment net income (loss) $ 81,673 $ (54,014 ) $ (51,177 ) $ (23,518 ) Total assets as of December 31, 2020 $ 3,405,590 $ 949,764 $ 104,255 $ 4,459,609 Year Ended December 31, 2019 Real Estate Credit Corporate/Other Company Total Rental and other property income $ 393,224 $ — $ — $ 393,224 Interest income — 20,132 — 20,132 Total revenues 393,224 20,132 — 413,356 General and administrative 428 10 13,291 13,729 Property operating 33,462 — — 33,462 Real estate tax 32,196 — — 32,196 Management and advisory fees and expenses 35,557 1,688 5,094 42,339 Transaction-related 288 1,242 748 2,278 Depreciation and amortization 107,867 — — 107,867 Impairment 72,939 — — 72,939 Total operating expenses 282,737 2,940 19,133 304,810 Gain on disposition of real estate, net 180,666 — — 180,666 Operating income (loss) 291,153 17,192 (19,133 ) 289,212 Other expense: Interest expense and other, net (45,606 ) (19 ) (53,340 ) (98,965 ) Loss on extinguishment of debt (6,482 ) — (745 ) (7,227 ) Segment net income (loss) 239,065 17,173 (73,218 ) 183,020 Segment net income (loss) attributable to non-controlling 121 — — 121 Segment net income (loss) attributable to the Company $ 238,944 $ 17,173 $ (73,218 ) $ 182,899 Total assets as of December 31, 2019 $ 2,895,609 $ 551,805 $ 221,209 $ 3,668,623 Year Ended December 31, 2018 Real Estate Credit Corporate/Other Company Total Rental and other property income $ 429,636 $ — $ — $ 429,636 Interest income — 1,640 — 1,640 Total revenues 429,636 1,640 — 431,276 General and administrative 502 — 13,625 14,127 Property operating 30,267 — — 30,267 Real estate tax 37,898 — — 37,898 Management and advisory fees and expenses 38,032 53 5,314 43,399 Transaction-related 85 1,786 730 2,601 Depreciation and amortization 140,979 — — 140,979 Impairment 32,975 — — 32,975 Total operating expenses 280,738 1,839 19,669 302,246 Gain on disposition of real estate, net 6,299 — — 6,299 Operating income (loss) 155,197 (199 ) (19,669 ) 135,329 Other expense: Interest expense and other, net (49,458 ) — (48,413 ) (97,871 ) Loss on extinguishment of debt (46 ) — — (46 ) Segment net income (loss) 105,693 (199 ) (68,082 ) 37,412 Segment net income (loss) attributable to non-controlling 134 — — 134 Segment net income (loss) attributable to the Company $ 105,559 $ (199 ) $ (68,082 ) $ 37,278 Total assets as of December 31, 2018 $ 4,502,999 $ 90,788 $ 23,584 $ 4,617,371

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) . December 31, 2020 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 74,007 $ 67,296 $ 72,642 $ 76,978 Net (loss) income $ (12,175 ) $ (3,746 ) $ 4,179 $ (11,776 ) Basic and diluted net (loss) income per common share (1) $ (0.04 ) $ (0.01 ) $ 0.01 $ (0.04 ) (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 $ 109,260 $ 105,529 $ 105,479 $ 93,088 Net income $ 8,851 $ 9,006 $ 2,573 $ 162,590 Net income attributable to the Company $ 8,817 $ 8,973 $ 2,541 $ 162,568 Basic and diluted net income per common share (1) $ 0.03 $ 0.03 $ 0.01 $ 0.52 (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.

ORGANIZATION AND BUSINESS (Deta

ORGANIZATION AND BUSINESS (Details) $ / shares in Units, ft² in Millions	Jul. 01, 2021building	Jan. 07, 2021apartmentUnitbuildingloan	Apr. 04, 2014shares	Jun. 30, 2021USD ($)ft²loanapartmentUnitsecuritystateproperty$ / sharesshares	Dec. 31, 2020USD ($)ft²loanstateproperty$ / sharesshares	Dec. 31, 2019USD ($)loanpropertyshares	Apr. 04, 2014shares	May 26, 2021$ / shares	Aug. 14, 2020$ / shares	Sep. 03, 2019state	Dec. 31, 2018USD ($)property	Aug. 02, 2016USD ($)	Jun. 30, 2016USD ($)shares	Dec. 19, 2013USD ($)	Jan. 26, 2012USD ($)
Organization and Business [Line Items]
Number of owned properties | property				469	516
Rentable square feet (sqft) | ft²				18.6	21.3
Number of states in which entity owns properties | state				41	45					41
Percentage of rentable space leased				93.10%	94.10%
Number of loans | loan				247	206
Net book value				$ 1,343,236,000	$ 892,266,000	$ 301,630,000					$ 89,762,000
Real estate-related securities				$ 42,071,000	$ 38,194,000	$ 0
Common stock, shares issued (shares) | shares			297,400,000	362,923,841	362,001,968	311,207,725	297,400,000
Shares deregistered (shares) | shares			404,000				404,000
Net asset value per share (USD per share) | $ / shares				$ 7.20	$ 7.31
Number of investment in real estate securities | security				3
Net value				$ 42,100,000
Real estate investment property, at cost				3,675,098,000	$ 3,761,490,000	$ 2,843,438,000
Net book value				1,300,000,000
Consolidated Properties
Organization and Business [Line Items]
Number of owned properties | property						9					9
Condominium Developments
Organization and Business [Line Items]
Real estate investment property, at cost				$ 197,100,000
Mezzanine Loans
Organization and Business [Line Items]
Net book value					$ 89,400,000
Number of Loans | loan		8		8	4	8
Foreclosure Of Mezzanine Loans
Organization and Business [Line Items]
Real estate investment property, at cost				$ 191,990,000
Foreclosure Of Mezzanine Loans | Condominium Units
Organization and Business [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		75
Foreclosure Of Mezzanine Loans | Condominium Units | Consolidated Properties
Organization and Business [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		75		75
Foreclosure Of Mezzanine Loans | Rental Unit
Organization and Business [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		21
Foreclosure Of Mezzanine Loans | Rental Unit | Consolidated Properties
Organization and Business [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		21		21
Foreclosure Of Mezzanine Loans | Buildings
Organization and Business [Line Items]
Number of real estate properties secured through foreclosure | building		4
Foreclosure Of Mezzanine Loans | Buildings | Consolidated Properties
Organization and Business [Line Items]
Number of real estate properties secured through foreclosure | building	4	4
IPO
Organization and Business [Line Items]
Common stock, shares authorized, value (maximum)															$ 2,975,000,000
Common stock, shares issued (shares) | shares			292,300,000				292,300,000
DRIP
Organization and Business [Line Items]
Common stock, shares authorized, value (maximum)					$ 600,000,000	$ 600,000,000					$ 600,000,000
Common stock, shares issued (shares) | shares			5,100,000				5,100,000						241,700,000
Common stock shares registered dividend reinvestment plan, value												$ 600,000,000		$ 247,000,000
Remaining unsold common stock													$ 5,300,000
Share price (USD per share) | $ / shares								$ 7.20	$ 7.31
CCPT IV OP
Organization and Business [Line Items]
General partner partnership interest percentage				100.00%	100.00%

ORGANIZATION AND BUSINESS - Mer

ORGANIZATION AND BUSINESS - Mergers (Details) $ / shares in Units, ft² in Millions	Dec. 21, 2020USD ($)ft²property	Oct. 29, 2020USD ($)	Aug. 30, 2020$ / sharesshares	Mar. 30, 2021USD ($)	Dec. 31, 2020USD ($)property$ / shares	Jun. 30, 2021USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares
Class of Stock [Line Items]
Number of properties acquired through mergers | property	146				146
Area of property acquired (sq ft) | ft²	3.8
Real estate investment property, at cost					$ 3,761,490,000	$ 3,675,098,000	$ 2,843,438,000
Common stock, par value (USD per share) | $ / shares					$ 0.01	$ 0.01	$ 0.01
CIM Real Estate Finance Trust, Inc Mergers
Class of Stock [Line Items]
Real estate investment property, at cost	$ 763,000,000
CCIT II
Class of Stock [Line Items]
Termination fees		$ 7,380,000
Reimbursement expenses upon termination fee (up to)		$ 3,690,000
Expense paid					$ 2,000,000
Reimbursement on related expense					$ 1,800,000
CCIT II | Subsequent event
Class of Stock [Line Items]
Proceeds from merger agreement				$ 173,000
Common Stock | CCIT III
Class of Stock [Line Items]
Conversion ratio (shares) | shares			1.098
Common stock, par value (USD per share) | $ / shares			$ 0.01
Common Stock | CCPT V
Class of Stock [Line Items]
Conversion ratio (shares) | shares			2.892
Common stock, par value (USD per share) | $ / shares			$ 0.01

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Principles of Consolidation and Basis of Presentation (Details) - property	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Number of owned properties	469	516
Consolidated properties
Real Estate Properties [Line Items]
Number of owned properties			9	9

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reclassification (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Provision for credit losses			$ 591,000		$ 5,600,000	$ 952,000	$ 522,000
Investment in real estate assets						6,200,000	11,900,000
Real estate development and capital expenditures						17,700,000	7,300,000
General and administrative		$ 3,020,000		$ 5,902,000	15,385,000	13,729,000	14,127,000
Management fees	$ 11,755,000	9,750,000	23,332,000	19,600,000
Transaction-related	27,000	125,000	31,000	250,000	$ 905,000	$ 2,278,000	$ 2,601,000
Expense reimbursements to related parties	$ 3,210,000	3,057,000	$ 5,871,000	5,235,000
Interest expense and other, net		15,520,000		31,276,000
Previously Reported [Member]
General and administrative		4,235,000		7,917,000
Management fees		11,398,000		22,488,000
Transaction-related		330,000		582,000
Expense reimbursements to related parties		0		0
Interest expense and other, net		15,509,000		31,276,000
Revision of Prior Period, Reclassification, Adjustment [Member]
General and administrative		(1,215,000)		(2,015,000)
Management fees		(1,648,000)		(2,888,000)
Transaction-related		(205,000)		(332,000)
Expense reimbursements to related parties		3,057,000		5,235,000
Interest expense and other, net		$ 11,000		$ 0

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Real Estate Assets (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Buildings
Real Estate Properties [Line Items]
Property, plant and equipment, useful life	40 years	40 years
Site improvements
Real Estate Properties [Line Items]
Property, plant and equipment, useful life	15 years	15 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recoverability of Real Estate Assets (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)PROPERTY	Jun. 30, 2020USD ($)PROPERTY	Dec. 31, 2020USD ($)Day	Dec. 31, 2019USD ($)Day	Dec. 31, 2018USD ($)Day
Real Estate [Line Items]
Impairment of real estate assets | $	$ 4,377	$ 15,507	$ 16,737	$ 72,939	$ 32,975
Impairment of real estate, number of properties | PROPERTY	5
Revised Expected Holding Properties
Real Estate [Line Items]
Impairment of real estate, number of properties	3	9	11	27	20
Vacant:
Real Estate [Line Items]
Impairment of real estate, number of properties	2	1	1	7	2

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Assets Held for Sale (Details) $ in Thousands	2 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 16, 2021USD ($)	Jun. 30, 2021USD ($)property	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)property	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Number of real estate properties held for sale | property		2		2		1	29
Real estate held-for-sale		$ 6,100		$ 6,100		$ 3,500	$ 351,900
Expected period of sale						24 months	24 months
Number of real estate reclassified from held for sale | property						15
Real estate held for sale placed back in service						$ 228,400
Number of properties disposed | property						14	497
Gain on disposition of real estate and condominium developments, net		$ 46,469	$ 3,791	46,469	$ 16,901	$ 27,518	$ 180,666	$ 6,299
One Real Estate Property Held For Sale [Member]
Number of real estate properties held for sale | property						1
Real estate held-for-sale						$ 3,500
Gain on disposition of real estate and condominium developments, net				$ 0
Subsequent Event [Member]
Gain on disposition of real estate and condominium developments, net	$ 779,000,000

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling interest in Consolidated Joint Venture (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Net income (loss) allocated to noncontrolling interest	$ 0	$ 121,000	$ 134,000
Distributions to noncontrolling interest	$ 0	$ 285,000	$ 279,000

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 21, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 174,217	$ 128,408		$ 340,939	$ 473,355	$ 19,674	$ 13,843
Restricted cash	32,918	7,023		$ 4,797	7,331	$ 9,141
Reserves for Settlement of Loan Acquisitions
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	43,200	41,000	$ 41,000		126,800
Restricted Lockbox Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	4,100	3,600			3,100
Escrow Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 28,800	$ 3,400			$ 4,200

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Real Estate-Related Securities (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)investment	Dec. 31, 2020USD ($)investment	Dec. 31, 2019USD ($)
Debt Securities, Available-for-sale [Line Items]
Real estate-related securities	$ 42,071	$ 42,071	$ 38,194	$ 0
Capitalized interest income on real estate-related securities	435,000	0
CMBS
Debt Securities, Available-for-sale [Line Items]
Net investments in debt securities	28,500	28,500	76,600
Sale price		26,976	37,083
Proceeds from sale of CMBS		27,624	37,593
Gain on sale of CMBS		$ 648	$ 510
Number of investments | investment		3	4
Real estate-related securities	$ 42,071	$ 42,071	$ 38,194	$ 0
Capitalized interest income on real estate-related securities		$ 435

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loan Held-for-Investments (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)LOAN	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Interest income	$ 16,460,000	$ 7,193,000	$ 28,413,000	$ 12,764,000	$ 29,393,000	$ 20,132,000	$ 1,640,000
Capitalized to held for investment		$ 0		$ 539,000,000	539,000
Amount received	1,343,236,000		1,343,236,000		892,266,000	$ 301,630,000	$ 89,762,000
Interest income on nonaccrual loans					$ 565,000
Mezzanine loans
Loans and Leases Receivable Disclosure [Line Items]
Interest income	$ 7,200,000		12,800,000
Number of nonaccrual loans | LOAN					8
Amount received					$ 89,400,000
Interest income on nonaccrual loans			$ 0

SUMMARY OF SIGNIFICANT ACCOU_13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 13,011	$ 12,888	$ 70,358	$ 35,039	$ 27,684	$ 19,779		$ 0
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses							$ 2,000	$ 2,002

SUMMARY OF SIGNIFICANT ACCOU_14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Financing Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Deferred costs, net	$ 5,842	$ 4,293	$ 2,301

SUMMARY OF SIGNIFICANT ACCOU_15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Common Stock (Details)	Dec. 31, 2020shares
Accounting Policies [Abstract]
Redeemable common stock (in shares)	0

SUMMARY OF SIGNIFICANT ACCOU_16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability	$ 2.4	$ 2.7	$ 2.4
Right-of-use asset	$ 2.4		2.4
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liability			2.4
Right-of-use asset			$ 2.4

SUMMARY OF SIGNIFICANT ACCOU_17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Development Activities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Capitalized interest expense in development project	$ 1.8	$ 0

SUMMARY OF SIGNIFICANT ACCOU_18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Accounts receivable write off	$ 591,000	$ 5,600,000	$ 952,000	$ 522,000
Tenant Reimbursements
Disaggregation of Revenue [Line Items]
Accounts receivable write off		1,000,000
Straight-Line Rent
Disaggregation of Revenue [Line Items]
Accounts receivable write off	$ 525,000	$ 206,000

SUMMARY OF SIGNIFICANT ACCOU_19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings (Loss) and Distributions Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Weighted average number diluted shares outstanding adjustment (shares)	0	0	0

SUMMARY OF SIGNIFICANT ACCOU_20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reportable Segment (Details) - segment	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Number of reportable segments	2	2

SUMMARY OF SIGNIFICANT ACCOU_21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - Subsequent Event [Member] - USD ($) $ in Millions	Aug. 09, 2021	Mar. 24, 2021
Percent of rental payments collected	99.00%	98.00%
Deferral rent due collected	$ 4.1
Percentage of deferral rent due collected	99.00%

SUMMARY OF SIGNIFICANT ACCOU_22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other (Details) - USD ($) $ in Thousands	Aug. 09, 2021	Mar. 24, 2021	Dec. 31, 2020
Unusual or Infrequent Item, or Both [Line Items]
Rent deferral request granted			$ 4,800
Allowance increase			4,800
Additional granted rental abatements			407,000
Granted rent abatements			3,700
Rent deferral due to lease term adjustment			$ 1,300
Subsequent event
Unusual or Infrequent Item, or Both [Line Items]
Percent of rental payments collected	99.00%	98.00%
Minimum
Unusual or Infrequent Item, or Both [Line Items]
Lease amendment extension term			12 months
Maximum
Unusual or Infrequent Item, or Both [Line Items]
Lease amendment extension term			84 months

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)property	Jun. 30, 2020USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 21, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties impaired | property	5	10	12	34	22
Impairment of real estate assets	$ 4,377	$ 15,507	$ 16,737	$ 72,939	$ 32,975
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	1,360		907,800	302,000
Carrying value of impaired property	31,200	70,200	86,400	384,400	332,400
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	1,340		892,300	301,600
Carrying value of impaired property	35,500	$ 85,700	103,100	457,300	$ 365,400
Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of CMBS	42,071		38,194			$ 38,194
Fair Value, Inputs, Level 2 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Company's debt			2,140,000	1,600,000
Debt instrument fair value disclosure			2,140,000	1,600,000
Fair Value, Inputs, Level 2 | Fair Value | Broadly syndicated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	407,600		359,600
Fair Value, Inputs, Level 2 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Company's debt	2,540,000		2,150,000	1,610,000
Debt instrument fair value disclosure	2,540,000		2,150,000	$ 1,610,000
Fair Value, Inputs, Level 2 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of CMBS	0		27,461			27,461
Level 3 | Fair Value | Broadly syndicated loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	76,200		114,100
Level 3 | Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of CMBS	$ 42,071		$ 10,733			$ 10,733

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis (Details) - Fair value, measurements, recurring - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Dec. 21, 2020	Dec. 31, 2019
Financial assets:
CMBS	$ 42,071,000	$ 38,194,000	$ 38,194,000
Total financial assets	42,071,000	38,194,000	38,194,000	$ 261
Financial liabilities:
Total financial liabilities	(6,289,000)	(12,308,000)	(12,308,000)	(4,181)
Interest rate swaps
Financial assets:
Interest rate swaps	0			261
Financial liabilities:
Interest rate swaps	(6,289,000)	(12,308,000)	(12,308,000)	(4,181)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
CMBS	0	0	0
Total financial assets	0	0	0	0
Financial liabilities:
Total financial liabilities	0	0	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps
Financial assets:
Interest rate swaps	0			0
Financial liabilities:
Interest rate swaps	0	0	0	0
Significant Other Observable Inputs (Level 2)
Financial assets:
CMBS	0	27,461,000	27,461,000
Total financial assets	0	27,461,000	27,461,000	261
Financial liabilities:
Total financial liabilities	(6,289,000)	(12,308,000)	(12,308,000)	(4,181)
Significant Other Observable Inputs (Level 2) | Interest rate swaps
Financial assets:
Interest rate swaps	0			261
Financial liabilities:
Interest rate swaps	(6,289,000)	(12,308,000)	(12,308,000)	(4,181)
Significant Unobservable Inputs (Level 3)
Financial assets:
CMBS	42,071,000	10,733,000	10,733,000
Total financial assets	42,071,000	10,733,000	10,733,000	0
Financial liabilities:
Total financial liabilities	0	0	0	0
Significant Unobservable Inputs (Level 3) | Interest rate swaps
Financial assets:
Interest rate swaps	0			0
Financial liabilities:
Interest rate swaps	$ 0	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Level

FAIR VALUE MEASUREMENTS - Level 3 Reconciliation (Details) - CMBS - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance, January 1, 2021	$ 10,733	$ 0
Total gains and losses:
Unrealized loss included in other comprehensive income (loss), net	1,804	747
Purchases and payments received:
Purchases	34,491	26,883
Premiums (discounts), net	(5,372)	(16,875)
Capitalized interest income	435
Principal payments received	(20)	(22)
Ending Balance, June 30, 2021	$ 42,071	$ 10,733

FAIR VALUE MEASUREMENTS - Disco

FAIR VALUE MEASUREMENTS - Discount Rates and Terminal Capitalization Rates (Details)	Jun. 30, 2021	Dec. 31, 2020
Maximum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	9.70%	9.70%
Maximum | Terminal Capitalization Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	9.20%	9.20%
Minimum | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	7.90%	7.90%
Minimum | Terminal Capitalization Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	7.40%	7.40%

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Impairment Charges by Asset Class (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	$ 4,377	$ 15,507	$ 16,737	$ 72,939	$ 32,975
Impairment of intangible lease liability			(48)	(337)	(145)
Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	781	3,541	3,738	12,648	6,436
Buildings, fixtures and improvements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	3,496	11,315	12,310	56,572	25,299
Intangible lease assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	230	696	$ 737	$ 4,056	$ 1,385
Intangible lease liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of intangible lease liability	$ (130)	$ (45)

REAL ESTATE ASSETS - Property A

REAL ESTATE ASSETS - Property Acquisition (Narrative) (Details)	Dec. 21, 2020property	Jun. 30, 2020USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Jun. 30, 2021USD ($)
Real Estate [Line Items]
Number of properties acquired through mergers | property	146		146
Real estate investment property, at cost			$ 3,761,490,000	$ 2,843,438,000		$ 3,675,098,000
2020 Asset Acquisitions
Real Estate [Line Items]
Real estate investment property, at cost		$ 4,659,000	798,500,000
Acquisition related costs		$ 42,000	$ 7,900,000
2019 Property Acquisition
Real Estate [Line Items]
Real estate investment property, at cost				6,165,000
Acquisition related costs				$ 165,000
Real investment property, percent acquired				100.00%
2018 Asset Acquisitions
Real Estate [Line Items]
Real estate investment property, at cost					$ 11,905,000
Acquisition related costs					$ 277,000
Real investment property, percent acquired					100.00%
Commercial Real Estate
Real Estate [Line Items]
Number of properties acquired | property		1	150	1	1

REAL ESTATE ASSETS - Assets Acq

REAL ESTATE ASSETS - Assets Acquired Via Foreclosure (Details) $ in Thousands	Jul. 01, 2021building	Jan. 07, 2021apartmentUnitbuildingloanland_parcel	Jun. 30, 2021USD ($)apartmentUnitloan	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Jan. 31, 2021USD ($)	Jan. 01, 2021USD ($)
Real Estate [Line Items]
Outstanding debt | $			$ 2,544,690	$ 2,149,976	$ 1,611,261
Mezzanine loans
Real Estate [Line Items]
Number of Loans | loan		8	8	4	8
Foreclosure of Mezzanine Loans | Condominium Units
Real Estate [Line Items]
Number of real estate properties secured through foreclosure		75
Foreclosure of Mezzanine Loans | Condominium Units | Consolidated properties
Real Estate [Line Items]
Number of real estate properties secured through foreclosure		75	75
Foreclosure of Mezzanine Loans | Rental Unit
Real Estate [Line Items]
Number of real estate properties secured through foreclosure		21
Foreclosure of Mezzanine Loans | Rental Unit | Consolidated properties
Real Estate [Line Items]
Number of real estate properties secured through foreclosure		21	21
Foreclosure of Mezzanine Loans | Buildings
Real Estate [Line Items]
Number of real estate properties secured through foreclosure | building		4
Foreclosure of Mezzanine Loans | Buildings | Consolidated properties
Real Estate [Line Items]
Number of real estate properties secured through foreclosure | building	4	4
Foreclosure of Mezzanine Loans | Land
Real Estate [Line Items]
Number of real estate properties secured through foreclosure | land_parcel		0
Variable rate debt
Real Estate [Line Items]
Outstanding debt | $			$ 94,202			$ 102,600	$ 102,600

REAL ESTATE ASSETS - Purchase P

REAL ESTATE ASSETS - Purchase Price Allocation (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Line Items]
Land	$ 843,192		$ 881,896	$ 700,210
Buildings, fixtures and improvements	2,267,204		2,490,030	1,830,101
Acquired in-place leases and other intangibles	367,622		389,564	313,127
Total real estate assets, at cost	$ 3,675,098		$ 3,761,490	$ 2,843,438
Below market lease, weighted average useful life	7 years 4 months 24 days		7 years 6 months	7 years 3 months 18 days
Foreclosure of Mezzanine Loans
Real Estate [Line Items]
Buildings, fixtures and improvements	$ 192,182
Total real estate assets, at cost	191,990
2020 Property Acquisition
Real Estate [Line Items]
Land		$ 1,417	$ 166,395
Buildings, fixtures and improvements		2,800	571,777
Total real estate assets, at cost		$ 4,659	$ 798,500
2019 Property Acquisition
Real Estate [Line Items]
Land				$ 1,501
Buildings, fixtures and improvements				3,804
Total real estate assets, at cost				$ 6,165
2018 Asset Acquisitions
Real Estate [Line Items]
Land					$ 2,107
Buildings, fixtures and improvements					9,044
Total real estate assets, at cost					$ 11,905
Acquired in-place leases and other intangibles | Foreclosure of Mezzanine Loans
Real Estate [Line Items]
Acquired in-place leases and other intangibles	134
Acquired in-place leases and other intangibles | 2020 Property Acquisition
Real Estate [Line Items]
Useful life		14 years 9 months 18 days	8 years 10 months 24 days
Acquired in-place leases and other intangibles		$ 442	$ 74,888
Acquired in-place leases and other intangibles | 2019 Property Acquisition
Real Estate [Line Items]
Useful life				20 years 1 month 6 days
Acquired in-place leases and other intangibles				$ 860
Acquired in-place leases and other intangibles | 2018 Asset Acquisitions
Real Estate [Line Items]
Useful life					19 years
Acquired in-place leases and other intangibles					$ 1,392
Acquired above-market leases | 2020 Property Acquisition
Real Estate [Line Items]
Useful life			6 years 6 months
Acquired in-place leases and other intangibles			$ 2,367
Intangible lease liabilities | Foreclosure of Mezzanine Loans
Real Estate [Line Items]
Intangible lease liabilities	$ (326)
Intangible lease liabilities | 2020 Property Acquisition
Real Estate [Line Items]
Useful life			9 years 8 months 12 days
Intangible lease liabilities			$ (16,927)
Intangible lease liabilities | 2018 Asset Acquisitions
Real Estate [Line Items]
Intangible lease liabilities					$ (638)
Below market lease, weighted average useful life					19 years

REAL ESTATE ASSETS - Condominiu

REAL ESTATE ASSETS - Condominium Development Project and Dispositions (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Line Items]
Condominium developments	$ 197,080		$ 0
Proceeds from disposition of properties	304,370	$ 157,198	263,797	$ 1,399,953	$ 64,180
Gain (loss) on sale of properties	46,469	$ 16,901	$ 27,518	$ 180,666	$ 6,299
Condominium Units
Real Estate [Line Items]
Condominium developments	4,500
Condominium Dispositions
Real Estate [Line Items]
Aggregate gross sales price	8,800
Proceeds from disposition of properties	8,500
Gain (loss) on sale of properties	$ 1,500

REAL ESTATE ASSETS - Property D

REAL ESTATE ASSETS - Property Dispositions and Real Estate Asset Held for Sale (Details) $ in Thousands	Sep. 03, 2019USD ($)ft²propertystate	Jun. 30, 2021USD ($)stateproperty	Jun. 30, 2020USD ($)property	Dec. 31, 2020USD ($)stateproperty	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Real Estate [Line Items]
Number of properties disposed | property				14	497
Proceeds from disposition of properties		$ 304,370	$ 157,198	$ 263,797	$ 1,399,953	$ 64,180
Gain on disposition of real estate, net		$ 46,469	$ 16,901	$ 27,518	$ 180,666	$ 6,299
Number of real estate properties held for sale | property		2		1	29
Real estate held-for-sale		$ 6,100		$ 3,500	$ 351,900
Number of states in which entity owns properties | state	41	41		45
Mortgage notes payable					126,700
2019 Asset Acquisition
Real Estate [Line Items]
Aggregate gross sales price				$ 26,300
Area of real estate property | ft²	5.1
Debt instrument, face amount	$ 130,800
Property Disposition 2021 | Properties sold
Real Estate [Line Items]
Number of properties disposed | property		47
Aggregate gross sales price		$ 304,000
Proceeds from disposition of properties		296,000
Gain on disposition of real estate, net		$ 46,500
Property Disposition 2020 | Properties sold
Real Estate [Line Items]
Number of properties disposed | property			16	30
Aggregate gross sales price			$ 160,800	$ 270,400
Proceeds from disposition of properties			157,200	263,800
Gain on disposition of real estate, net			$ 16,900	$ 27,500
Property Disposition 2019
Real Estate [Line Items]
Aggregate gross sales price	$ 1,200,000				1,650,000
Proceeds from disposition of properties					1,400,000
Gain on disposition of real estate, net					$ 180,700
Number of real estate properties held for sale | property	444
Repayments of debt	$ 532,300
Property Disposition 2018
Real Estate [Line Items]
Number of properties disposed | property						21
Aggregate gross sales price						$ 66,600
Proceeds from disposition of properties						49,100
Gain on disposition of real estate, net						6,300
Repayments of related party debt						15,000
Property Disposition 2018 | Disposition fees | Affiliated entity
Real Estate [Line Items]
Related party transaction, expenses from transactions with related party						$ 478,000
Retail Property | Property Disposition 2020 | Properties sold
Real Estate [Line Items]
Number of properties disposed | property			10	20
Retail Property | Property Disposition 2019
Real Estate [Line Items]
Number of properties disposed | property					482
Retail Property | Property Disposition 2018
Real Estate [Line Items]
Number of properties disposed | property						19
Anchored Shopping Center | Property Disposition 2020 | Properties sold
Real Estate [Line Items]
Number of properties disposed | property			6	10
Anchored Shopping Center | Property Disposition 2019
Real Estate [Line Items]
Number of properties disposed | property					14
Anchored Shopping Center | Property Disposition 2018
Real Estate [Line Items]
Number of properties disposed | property						2
Single-Tenant Properties | Property Disposition 2019
Real Estate [Line Items]
Number of real estate properties held for sale | property	452
Single-Tenant Properties | Property Disposition 2019 | Consolidated properties
Real Estate [Line Items]
Number of real estate properties held for sale | property	9
Industrial Property | Property Disposition 2019
Real Estate [Line Items]
Number of properties disposed | property					1

REAL ESTATE ASSETS - Impairment

REAL ESTATE ASSETS - Impairment (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)ft²property	Jun. 30, 2020USD ($)ft²property	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019USD ($)ft²property	Dec. 31, 2018USD ($)ft²property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties impaired | property	5	10	12	34	22
Area of real estate property impaired | ft²	165,000	673,000	824,000	3,400,000	2,300,000
Impairment of real estate assets	$ 4,377	$ 15,507	$ 16,737	$ 72,939	$ 32,975
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate asset deemed to be impaired	35,500	85,700	103,100	457,300	365,400
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate asset deemed to be impaired	$ 31,200	$ 70,200	$ 86,400	$ 384,400	$ 332,400

REAL ESTATE ASSETS - Property_2

REAL ESTATE ASSETS - Property Acquisition (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)property	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018property
Real Estate [Line Items]
Total purchase price	$ 3,675,098,000		$ 3,761,490,000	$ 2,843,438,000
Commercial Real Estate
Real Estate [Line Items]
Number of properties acquired | property		1	150	1	1
2020 Property Acquisition
Real Estate [Line Items]
Total purchase price		$ 4,659,000	$ 798,500,000
Acquisition related costs		$ 42,000	$ 7,900,000
2021 Property Acquisition
Real Estate [Line Items]
Number of properties acquired | loan	0

INTANGIBLE LEASE ASSETS AND L_3

INTANGIBLE LEASE ASSETS AND LIABILITIES - Components (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Intangible lease assets:
Intangible lease assets	$ 203,389	$ 234,543	$ 182,147
Intangible lease liabilities:
Below market leases net of amortization	27,917	32,718	20,523
Below market lease, accumulated amortization	$ 34,297	$ 31,933	$ 25,800
Below market lease, weighted average useful life	7 years 4 months 24 days	7 years 6 months	7 years 3 months 18 days
In-place leases and other intangibles
Intangible lease assets:
Intangible lease assets	$ 187,922	$ 217,431	$ 164,724
Accumulated amortization	$ 141,487	$ 132,967	$ 111,670
Useful life	9 years 2 months 12 days	9 years 8 months 12 days	10 years 4 months 24 days
Acquired above-market leases
Intangible lease assets:
Intangible lease assets	$ 15,467	$ 17,112	$ 17,423
Accumulated amortization	$ 22,746	$ 22,054	$ 19,310
Useful life	7 years 6 months	7 years 7 months 6 days	7 years 10 months 24 days

INTANGIBLE LEASE ASSETS AND L_4

INTANGIBLE LEASE ASSETS AND LIABILITIES - Schedule of Finite-lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Below-market lease amortization	$ 1,377	$ 1,267	$ 2,843	$ 2,666	$ 5,309	$ 6,253	$ 8,448
In-place leases and other intangibles
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	7,428	5,615	15,201	11,555	23,262	32,058	45,559
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 599	$ 729	$ 1,249	$ 1,637	$ 3,095	$ 4,315	$ 6,740

INTANGIBLE LEASE ASSETS AND L_5

INTANGIBLE LEASE ASSETS AND LIABILITIES - Estimated Amortization of Intangible Lease Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Amortization, In-Place Leases and Other Intangibles, Above-Market Leases
Total	$ 203,389	$ 234,543	$ 182,147
Amortization, Below-Market Leases
Remainder of 2021	2,541	5,499
2022	4,496	4,770
2023	3,832	4,101
2024	2,872	3,138
2025	2,503	2,779
Thereafter	11,673	12,431
Total	27,917	32,718	20,523
In-place leases and other intangibles
Amortization, In-Place Leases and Other Intangibles, Above-Market Leases
Remainder of 2021	14,027	30,108
2022	26,209	27,756
2023	23,027	24,547
2024	19,849	21,317
2025	16,071	17,534
Thereafter	88,739	96,169
Total	187,922	217,431	164,724
Acquired above-market leases
Amortization, In-Place Leases and Other Intangibles, Above-Market Leases
Remainder of 2021	1,188	2,489
2022	2,281	2,345
2023	2,028	2,086
2024	1,533	1,576
2025	1,292	1,334
Thereafter	7,145	7,282
Total	$ 15,467	$ 17,112	$ 17,423

REAL ESTATE-RELATED SECURITIE_2

REAL ESTATE-RELATED SECURITIES - Narrative (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)investment	Dec. 31, 2020USD ($)investment	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Real estate-related securities	$ 42,071,000	$ 42,071,000	$ 38,194,000	$ 0
Credit losses		0	0
CMBS
Debt Instrument [Line Items]
Real estate-related securities	42,071,000	$ 42,071,000	$ 38,194,000	$ 0
Number of debt instruments | investment		3	4
Net investments in debt securities	28,500,000	$ 28,500,000	$ 76,600,000
Sale price		26,976,000	37,083,000
Proceeds from sale of CMBS		27,624,000	37,593,000
Gain on sale of CMBS		648,000	510,000
Unrealized gain on real estate-related securities	$ 1,900,000	$ 2,052,000	$ 1,657,000
One CMBS
Debt Instrument [Line Items]
Number of debt instruments | investment		1
Stated interest rate	0.00%	0.00%
Minimum | CMBS
Debt Instrument [Line Items]
Stated interest rate	2.70%	2.70%	4.00%
Maximum | CMBS
Debt Instrument [Line Items]
Stated interest rate	13.00%	13.00%	13.00%

REAL ESTATE-RELATED SECURITIE_3

REAL ESTATE-RELATED SECURITIES - Summary of Real Estate Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 39,520	$ 37,047
Unrealized Gain	2,551	1,147
Fair Value	42,071	38,194	$ 0
CMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	39,520	37,047	0
Unrealized Gain	2,551	1,147	0
Fair Value	$ 42,071	$ 38,194	$ 0

REAL ESTATE-RELATED SECURITIE_4

REAL ESTATE-RELATED SECURITIES - Activity for the Real Estate-Related Securities (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Amortized Cost Basis
Real estate-related securities as of January 1, 2021		$ 37,047
Capitalized interest income on real estate-related securities	$ 435,000	0
Real estate-related securities as of June 30, 2021	39,520	39,520	$ 37,047
Unrealized Gain
Real estate-related securities as of January 1, 2021		1,147
Real estate-related securities as of June 30, 2021	2,551	2,551	1,147
Fair Value
Real estate-related securities as of January 1, 2021		38,194	0
Capitalized interest income on real estate-related securities	435,000	0
Real estate-related securities as of June 30, 2021	42,071	42,071	38,194
CMBS
Amortized Cost Basis
Real estate-related securities as of January 1, 2021		37,047	0
Face value of real estate-related securities acquired		34,491	91,440
Premiums and discounts on purchase of real estate-related securities, net of acquisition costs		(5,982)	(14,796)
Amortization of discount (premium) on real estate-related securities		525	57
Sale of real estate-related securities		(26,976)	(37,083)
Capitalized interest income on real estate-related securities		435
Principal payments received on real estate-related securities		(20)	(2,571)
Real estate-related securities as of June 30, 2021	39,520	39,520	37,047
Unrealized Gain
Real estate-related securities as of January 1, 2021		1,147	0
Unrealized gain on Sale of real estate-related securities		(648)	(510)
Unrealized gain on real estate-related securities	1,900	2,052	1,657
Real estate-related securities as of June 30, 2021	2,551	2,551	1,147
Fair Value
Real estate-related securities as of January 1, 2021		38,194	0
Face value of real estate-related securities acquired		34,491	91,440
Premiums and discounts on purchase of real estate-related securities, net of acquisition costs		(5,982)	(14,796)
Amortization of discount on real estate-related securities		525	57
Fair value of Sale of real estate-related securities		(27,624)	(37,593)
Capitalized interest income on real estate-related securities		435
Principal payments received on real estate-related securities		(20)	(2,571)
Unrealized gain on real estate-related securities	1,900	2,052	1,657
Real estate-related securities as of June 30, 2021	$ 42,071	$ 42,071	$ 38,194

REAL ESTATE-RELATED SECURITIE_5

REAL ESTATE-RELATED SECURITIES - The Scheduled Maturities of Real Estate-Related Securities (Details) - CMBS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Available-for-sale securities, Amortized Cost
Due within one year	$ 0	$ 0
Due after one year through five years	0	27,061
Due after five years through ten years	0	0
Due after ten years	39,520	9,986
Total	39,520	37,047
Available-for-sale securities, Estimated Fair Value
Due within one year	0	0
Due after one year through five years	0	27,461
Due after five years through ten years	0	0
Due after ten years	42,071	10,733
Total	$ 42,071	$ 38,194

LOANS HELD-FOR-INVESTMENT - Sch

LOANS HELD-FOR-INVESTMENT - Schedule of Loans Held for Investment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses	$ (13,011)	$ (12,888)	$ (70,358)	$ (35,039)	$ (27,684)	$ (19,779)	$ 0
Total loans held-for-investment and related receivables, net	1,343,236		892,266				301,630	$ 89,762
Loans held-for-investment and related receivables, net	1,356,247		962,624				301,630
Mezzanine loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses	0	0	(58,038)	(24,870)	(21,269)	(14,541)	0
Total loans held-for-investment and related receivables, net			89,400
Loans held-for-investment and related receivables, net	0		147,475				146,060
Senior loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses	(6,466)	(3,885)	(2,590)	(1,882)	(492)	(809)	0
Loans held-for-investment and related receivables, net	872,188		341,546				152,820
Total CRE loans-held-for-investment and related receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-investment and related receivables, net	865,722		428,393				298,880
Loans held-for-investment and related receivables, net	872,188		489,021				298,880
Broadly syndicated loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses	(6,545)	$ (9,003)	(9,730)	$ (8,287)	$ (5,923)	$ (4,429)	0
Total loans held-for-investment and related receivables, net	477,514		463,873				2,750
Loans held-for-investment and related receivables, net	$ 484,059		$ 473,603				$ 2,750

LOANS HELD-FOR-INVESTMENT - Nar

LOANS HELD-FOR-INVESTMENT - Narrative (Details)	Jul. 01, 2021building	Jan. 07, 2021apartmentUnitbuildingloan	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2021USD ($)apartmentUnitloan	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)	Dec. 21, 2020USD ($)	Jan. 01, 2020USD ($)	Dec. 31, 2017USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Sale									$ 36,664,000		$ 42,031,000
Proceeds from sale of broadly syndicated loans									36,518,000	$ 19,842,000	39,902,000	$ 0	$ 0
Loss on sale of broadly syndicated loans									165,000		737,000
Cash and cash equivalents			$ 174,217,000		$ 128,408,000		$ 340,939,000		174,217,000	340,939,000	128,408,000	473,355,000	19,674,000			$ 13,843,000
Transition adjustment			13,011,000	$ 12,888,000	70,358,000	$ 35,039,000	27,684,000	$ 19,779,000	13,011,000	27,684,000	70,358,000	0
Provision for credit losses			123,000	568,000	35,319,000	7,355,000	7,905,000	17,777,000	691,000	25,682,000	68,356,000	0	0
Additional provision for credit losses			123,000				7,905,000		691,000	25,682,000	68,356,000	0	$ 0
Cure payments receivable									(7,351,000)		7,351,000
Allowance increase											4,800,000
Foreclosure of assets				58,038,000
Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition adjustment												2,002,000			$ 2,000,000
Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other commitment			108,300,000		169,100,000				108,300,000		169,100,000
Reserves for Settlement of Loan Acquisitions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash and cash equivalents			43,200,000		41,000,000				43,200,000		41,000,000	126,800,000		$ 41,000,000
Broadly syndicated loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net book value									142,300,000		582,700,000
Principal payments received									97,300,000		71,800,000
Transition adjustment			6,545,000	9,003,000	9,730,000	8,287,000	5,923,000	4,429,000	6,545,000	5,923,000	9,730,000	0
Provision for credit losses			(2,458,000)	(727,000)	1,443,000	2,364,000	1,494,000	4,389,000
Foreclosure of assets				0
Broadly syndicated loans | Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition adjustment												40,000
Mezzanine loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition adjustment			0	0	58,038,000	24,870,000	21,269,000	14,541,000	0	$ 21,269,000	58,038,000	$ 0
Provision for credit losses			$ 0	0	$ 33,168,000	$ 3,601,000	$ 6,728,000	$ 13,047,000
Additional provision for credit losses									$ 13,000,000		$ 70,400,000
Number of loans | loan		8							8		4	8
Allowance increase											$ 58,000,000
Foreclosure of assets				$ 58,038,000
Mezzanine loans | Asset Benchmark | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage											3.30%
Mezzanine loans | Cumulative Effect, Period Of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition adjustment												$ 1,494,000
Foreclosure of Mezzanine Loans | Condominium Units
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		75
Foreclosure of Mezzanine Loans | Condominium Units | Consolidated properties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		75							75
Foreclosure of Mezzanine Loans | Rental Unit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		21
Foreclosure of Mezzanine Loans | Rental Unit | Consolidated properties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		21							21
Foreclosure of Mezzanine Loans | Buildings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties secured through foreclosure | building		4
Foreclosure of Mezzanine Loans | Buildings | Consolidated properties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties secured through foreclosure | building	4	4

LOANS HELD-FOR-INVESTMENT - Sta

LOANS HELD-FOR-INVESTMENT - Statistics (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)loan	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan	247	206
Net book value	$ 1,343,236	$ 892,266	$ 301,630	$ 89,762
Loans receivable with variable rate of interest	100.00%	100.00%
CRE Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan	10	12	11
Principal balance	$ 882,505	$ 481,438	$ 297,357
Net book value	$ 865,722	$ 428,393	$ 298,880
Weighted-average interest rate	4.20%	7.50%	8.90%
Weighted-average maximum years to maturity	2 years 7 months 6 days	2 years 2 months 12 days	2 years 10 months 24 days
Broadly syndicated loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan	237	194	1
Principal balance	$ 487,121	$ 477,777	$ 2,750
Net book value	$ 477,514	$ 463,873	$ 2,750
Weighted-average interest rate	3.60%	3.80%	4.50%
Weighted-average maximum years to maturity	5 years	4 years 10 months 24 days	5 years 2 months 12 days

LOANS HELD-FOR-INVESTMENT - Act

LOANS HELD-FOR-INVESTMENT - Activity (Details) $ in Thousands	Jan. 07, 2021loan	Jun. 30, 2021USD ($)loan	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Mar. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)
Loans Held-for-Investment [Roll Forward]
Beginning Balance, Principal Balance		$ 959,215	$ 300,135	$ 89,679
Beginning Balance, Deferred Fees/Other Items		(74,116)	(6,047)	(6,540)
Beginning Balance, Loan Fees Receivable		7,167	7,542	6,623
Beginning Balance, Net Book Value		892,266	301,630	89,762
Loan originations and acquisitions, Principal Balance		681,580	820,015	219,096
Loan originations and acquisitions, Deferred Fees/Other items			(5)	(417)
Loan originations and acquisitions, Loan Fees Receivable			5	1,085
Loan originations and acquisitions, Net Book Value		681,580	820,015	219,764
Cure payments receivable		(7,351)	7,351
Sale of loans, Principal Balance		(36,664)	(42,031)
Sale of loans, Deferred Fees/Other Items		311	1,392
Sale of loans, Net Book Value		(36,353)	(40,639)
Principal repayments received		(97,716)	(119,443)	(17,186)
Principal repayments received, Deferred Fees/Other Items		257
Principal repayments received , Net Book Value		(97,459)
Capitalized interest		(9,469)	539	8,546
Deferred fees and other items, Deferred Fees/Other Items		(5,886)	(8,969)	(1,531)
Deferred fees and other items, Loan Fees Receivable			(380)	(166)
Deferred fees and other items, Net Book Value		(5,886)	(9,349)	(1,697)
Accretion and amortization of fees and other items		(783)	2,520	2,441
Foreclosure of mezzanine loans, Principal Balance		(127,320)
Foreclosure of mezzanine loans, Deferred Fees And Other Items		3,831
Foreclosure of mezzanine loans, Loan Fees Receivable		(7,167)
Foreclosure of mezzanine loans, Net Book Value		(130,656)
Allowance for credit losses		(13,011)	(70,358)	0	$ (12,888)	$ (35,039)	$ (27,684)	$ (19,779)
Allowance for credit loss and other items		57,347
Ending Balance, Principal Balance		1,369,626	959,215	300,135
Ending Balance, Deferred Fees/Other Items		(26,390)	(74,116)	(6,047)
Ending Balance, Loan Fees Receivable		0	7,167	7,542
Ending Balance, Net Book Value		1,343,236	892,266	301,630
Mezzanine loans
Loans Held-for-Investment [Roll Forward]
Beginning Balance, Net Book Value		89,400
Allowance for credit losses		$ 0	(58,038)	$ 0	$ 0	$ (24,870)	$ (21,269)	$ (14,541)
Ending Balance, Net Book Value			$ 89,400
Number of Loans | loan	8	8	4	8
Senior loan
Loans Held-for-Investment [Roll Forward]
Repayments of debt			$ 40,800

LOANS HELD-FOR-INVESTMENT - All

LOANS HELD-FOR-INVESTMENT - Allowance for Financing Receivable (Details) $ in Thousands	Jan. 07, 2021loan	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period		$ 12,888	$ 70,358	$ 35,039	$ 27,684	$ 19,779	$ 0	$ 70,358	$ 0	$ 0
Foreclosure of assets			(58,038)
Provision for credit losses		123	568	35,319	7,355	7,905	17,777	691	25,682	68,356	$ 0	$ 0
Allowance for credit losses end of period		13,011	12,888	70,358	35,039	27,684	19,779	13,011	27,684	70,358	0
Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period							2,002		2,002	2,002
Allowance for credit losses end of period											2,002
Mezzanine loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period		0	58,038	24,870	21,269	14,541	0	58,038	0	0
Foreclosure of assets			(58,038)
Provision for credit losses		0	0	33,168	3,601	6,728	13,047
Allowance for credit losses end of period		0	0	58,038	24,870	21,269	14,541	$ 0	21,269	$ 58,038	$ 0
Number of Loans | loan	8							8		4	8
Mezzanine loans | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period							1,494		1,494	$ 1,494
Allowance for credit losses end of period											$ 1,494
Senior loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period		3,885	2,590	1,882	492	809	0	$ 2,590	0	0
Foreclosure of assets			0
Provision for credit losses		2,581	1,295	708	1,390	(317)	341
Allowance for credit losses end of period		6,466	3,885	2,590	1,882	492	809	6,466	492	2,590	0
Senior loans | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period							468		468	468
Allowance for credit losses end of period											468
Broadly syndicated loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period		9,003	9,730	8,287	5,923	4,429	0	9,730	0	0
Foreclosure of assets			0
Provision for credit losses		(2,458)	(727)	1,443	2,364	1,494	4,389
Allowance for credit losses end of period		$ 6,545	$ 9,003	$ 9,730	$ 8,287	$ 5,923	4,429	$ 6,545	5,923	9,730	0
Broadly syndicated loans | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of the period							$ 40		$ 40	$ 40
Allowance for credit losses end of period											$ 40

LOANS HELD-FOR-INVESTMENT - S_2

LOANS HELD-FOR-INVESTMENT - Schedule of Primary Credit Quality Indicator (Details) $ in Thousands	Jun. 30, 2021USD ($)loan	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)loan	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	247		206
Loans held-for-investment and related receivables, net	$ 1,356,247		$ 962,624				$ 301,630
Less: Allowance for credit losses	(13,011)	$ (12,888)	(70,358)	$ (35,039)	$ (27,684)	$ (19,779)	0
Total loans held-for-investment and related receivables, net	$ 1,343,236		$ 892,266				301,630	$ 89,762
Weighted Average Risk Rating	3		3.3
Mezzanine loans
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan			8
2021			$ 0
2020			57,045
2019			90,430
Loans held-for-investment and related receivables, net	$ 0		147,475				146,060
Less: Allowance for credit losses	$ 0	0	(58,038)	(24,870)	(21,269)	(14,541)	0
Total loans held-for-investment and related receivables, net			$ 89,400
Mezzanine loans | 1
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan			0
2021			$ 0
2020			0
2019			0
Loans held-for-investment and related receivables, net			$ 0
Mezzanine loans | 2
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan			0
2021			$ 0
2020			0
2019			0
Loans held-for-investment and related receivables, net			$ 0
Mezzanine loans | 3
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan			0
2021			$ 0
2020			0
2019			0
Loans held-for-investment and related receivables, net			$ 0
Mezzanine loans | 4
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan			0
2021			$ 0
2020			0
2019			0
Loans held-for-investment and related receivables, net			$ 0
Mezzanine loans | 5
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan			8
2021			$ 0
2020			57,045
2019			90,430
Loans held-for-investment and related receivables, net			$ 147,475
Senior loans
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	10		4
2021	$ 521,699		$ 225,822
2020	234,248		115,724
2019	116,241		0
Loans held-for-investment and related receivables, net	872,188		341,546				152,820
Less: Allowance for credit losses	$ (6,466)	(3,885)	$ (2,590)	(1,882)	(492)	(809)	0
Senior loans | 1
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
2021	$ 0		$ 0
2020	0		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 0		$ 0
Senior loans | 2
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
2021	$ 0		$ 0
2020	0		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 0		$ 0
Senior loans | 3
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	10		4
2021	$ 521,699		$ 225,822
2020	234,248		115,724
2019	116,241		0
Loans held-for-investment and related receivables, net	$ 872,188		$ 341,546
Senior loans | 4
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
2021	$ 0		$ 0
2020	0		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 0		$ 0
Senior loans | 5
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
2021	$ 0		$ 0
2020	0		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 0		$ 0
Broadly syndicated loans
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	237		194
2021	$ 120,536		$ 470,864
2020	360,473		2,739
2019	3,050		0
Loans held-for-investment and related receivables, net	484,059		473,603				2,750
Less: Allowance for credit losses	(6,545)	$ (9,003)	(9,730)	$ (8,287)	$ (5,923)	$ (4,429)	0
Total loans held-for-investment and related receivables, net	$ 477,514		$ 463,873				$ 2,750
Broadly syndicated loans | 1
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
2021	$ 0		$ 0
2020	0		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 0		$ 0
Broadly syndicated loans | 2
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	3		3
2021	$ 0		$ 6,880
2020	6,889		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 6,889		$ 6,880
Broadly syndicated loans | 3
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	233		189
2021	$ 120,536		$ 456,711
2020	349,670		2,739
2019	3,050		0
Loans held-for-investment and related receivables, net	$ 473,256		$ 459,450
Broadly syndicated loans | 4
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	1		2
2021	$ 0		$ 7,273
2020	3,914		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 3,914		$ 7,273
Broadly syndicated loans | 5
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
2021	$ 0		$ 0
2020	0		0
2019	0		0
Loans held-for-investment and related receivables, net	$ 0		$ 0

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)derivative	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)derivativeswap_agreement	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)swap_agreementderivative	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Derivatives, Fair Value [Line Items]
Amount of gain (loss) reclassified from other comprehensive income (loss) into income as interest expense and other, net	$ 71,000	$ 3,343,000	$ 3,203,000	$ 4,320,000	$ 12,321,000	$ 3,475,000	$ 4,305,000
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months	$ 59,000		$ 59,000		$ 3,300,000
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of instruments terminated | swap_agreement			2		1
Loss on derivative					$ 97,000
Number of interest rate derivatives held | derivative	3		3		5
Total unrealized gain (loss) on interest rate swap	$ 3,200,000		$ 3,200,000		$ (12,300,000)	$ (3,900,000)	$ 11,000,000
Interest Rate Swap | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Total unrealized gain (loss) on interest rate swap	80,000,000,000		80,000,000,000
Derivative liability, event of default, termination amount	$ 6,300,000		$ 6,300,000		$ 13,100,000
Interest Rate Cap
Derivatives, Fair Value [Line Items]
Number of instruments terminated | swap_agreement			4
Number of interest rate derivatives held | derivative	4		4

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Instruments (Details)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)swap_agreement
Minimum
Derivative [Line Items]
Interest rates		2.55%
Maximum
Derivative [Line Items]
Interest rates		4.50%
Derivative liabilities, deferred rental income and other liabilities | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Outstanding notional amount	$ 241,500,000	$ 1,085,266,000
Fair value of liabilities	$ (6,289,000)	$ (12,308,000)	$ (4,181,000)
Derivative liabilities, deferred rental income and other liabilities | Cash flow hedging | Interest rate swaps | Minimum
Derivative [Line Items]
Interest rates	2.55%
Derivative liabilities, deferred rental income and other liabilities | Cash flow hedging | Interest rate swaps | Maximum
Derivative [Line Items]
Interest rates	4.50%
Prepaid expenses and other assets | Interest rate swaps | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, number of instruments held | swap_agreement			2
Prepaid expenses and other assets | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Outstanding notional amount			$ 60,000,000
Fair value of assets			$ 261,000
Prepaid expenses and other assets | Cash flow hedging | Interest Rate Cap
Derivative [Line Items]
Outstanding notional amount	$ 102,553,000
Interest rates	5.45%

CREDIT FACILITIES, NOTES PAYA_3

CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES - Narrative (Details) $ in Thousands	Dec. 21, 2020USD ($)	Jun. 04, 2020USD ($)extension	Aug. 16, 2021USD ($)	Aug. 16, 2021USD ($)	Jun. 30, 2021USD ($)loan	Dec. 31, 2020USD ($)loan	May 20, 2021USD ($)	Jan. 31, 2021USD ($)	Jan. 01, 2021USD ($)	Sep. 21, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Credit facilities, notes payable and repurchase facilities, net					$ 2,540,809	$ 2,144,993					$ 1,604,860
Weighted average years to maturity					1 year 7 months 6 days	1 year 10 months 24 days
Debt, weighted average interest rate					2.80%	3.40%
Long-term debt					$ 2,544,690	$ 2,149,976					1,611,261
Line of credit, maximum borrowing capacity	$ 130,000
Number of mortgage notes not in compliance with covenants | loan						1
Number of Loans | loan					247	206
Loans held-for-investment and related receivables, net					$ 1,356,247	$ 962,624					301,630
Loans held-for-investment and related receivables, net					$ 1,356,247	$ 962,624					301,630
Subsequent event
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 774,000	$ 774,000
Reinvestment period
Debt Instrument [Line Items]
Stated interest rate					1.70%
Amortization period
Debt Instrument [Line Items]
Stated interest rate					2.00%
Senior loans
Debt Instrument [Line Items]
Number of Loans | loan					10	4
Loans held-for-investment and related receivables, net					$ 872,188	$ 341,546					152,820
Senior loans | Affiliated entity
Debt Instrument [Line Items]
Percent of lending guaranteed (up to)		25.00%
Number of Loans | loan					9	4
Loans held-for-investment and related receivables, net						$ 341,500
Loans held-for-investment and related receivables, net					$ 727,400
Credit and Security Agreement | Subsequent event
Debt Instrument [Line Items]
Long-term debt			220,000	220,000
Line of credit, maximum borrowing capacity			50,000	50,000
Credit facilities | Affiliated entity
Debt Instrument [Line Items]
Long-term line of credit					$ 505,400
Number of extension options | extension		2
Extension period		1 year
Consolidated net worth, minimum		$ 1,000,000
Equity issued by the company, minimum		75.00%
Maximum leverage ratio to total indebtedness to total equity (less than or equal)					80.00%	80.00%
Minimum interest coverage ratio of EBITDA to interest expense (greater than or equal)					1.40	1.40
Credit facilities | Affiliated entity | Term a
Debt Instrument [Line Items]
Minimum liquidity		$ 50,000
Credit facilities | Affiliated entity | Term b
Debt Instrument [Line Items]
Minimum liquidity		$ 10,000
Recourse indebtedness		5.00%
Credit facilities | Reinvestment period
Debt Instrument [Line Items]
Stated interest rate						1.70%
Credit facilities | Amortization period
Debt Instrument [Line Items]
Stated interest rate						2.00%
JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Debt, weighted average interest rate					2.50%
Stated interest rate					2.00%
Line of credit, maximum borrowing capacity					$ 1,240,000
Long-term line of credit					1,110,000
Line of credit, current borrowing capacity					12,200
Line of credit facility, covenant, minimum consolidated net worth					$ 1,750,000
Debt instrument, covenant, fixed charge coverage ratio					1.50
Reinvestment period					3 years	3 years
Minimum required assets under management					$ 1,250,000
Line of credit, current borrowing capacity					$ 480,000
JPMorgan Chase Bank, N.A. | Federal funds rate plus
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0.50%
JPMorgan Chase Bank, N.A. | One-Month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1.00%
JPMorgan Chase Bank, N.A. | Term loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					$ 885,000
Long-term line of credit					1,110,000
JPMorgan Chase Bank, N.A. | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					350,000
Long-term line of credit					$ 0
JPMorgan Chase Bank, N.A. | Credit facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 1,240,000
Citibank | Revolving Credit Facility
Debt Instrument [Line Items]
Debt, weighted average interest rate					1.80%	1.90%
Line of credit, maximum borrowing capacity						$ 500,000					500,000
Long-term line of credit					$ 316,500	$ 231,500
Citibank | Credit facilities | Affiliated entity
Debt Instrument [Line Items]
Debt, weighted average interest rate					2.20%	2.30%
Line of credit, maximum borrowing capacity		$ 300,000
Long-term line of credit					$ 188,000	$ 126,300
Barclays Bank PLC | Credit facilities | Affiliated entity
Debt Instrument [Line Items]
Debt, weighted average interest rate					2.50%
Line of credit, maximum borrowing capacity										$ 500,000
Long-term line of credit					$ 250,000
Wells Fargo | Credit facilities | Affiliated entity
Debt Instrument [Line Items]
Debt, weighted average interest rate					1.80%
Line of credit, maximum borrowing capacity							$ 250,000
Long-term line of credit					$ 67,400
Minimum | One-Month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.10%
Debt instrument, basis spread on variable rate		2.00%
Minimum | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Stated interest rate					0.65%
Line of credit facility, covenant, unsecured debt service coverage ratio (greater than)					1.75
Minimum | JPMorgan Chase Bank, N.A. | Statutory Reserve Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1.65%
Maximum | One-Month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.60%
Debt instrument, basis spread on variable rate		2.40%
Maximum | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Stated interest rate					1.25%
Line of credit facility, covenant, leverage ratio					60.00%
Debt instrument, covenant, unsecured debt to unencumbered asset value ratio					60.00%
Line of credit facility, covenant, secured debt ratio					40.00%
Line of credit facility, covenant, ratio of secured debt to total asset value					15.00%
Maximum | JPMorgan Chase Bank, N.A. | Statutory Reserve Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					2.25%
Maximum | JPMorgan Chase Bank, N.A. | Credit facilities
Debt Instrument [Line Items]
Line of credit facility, covenant, leverage ratio						60.00%
Interest rate swaps | JPMorgan Chase Bank, N.A. | Term loan | Cash flow hedging
Debt Instrument [Line Items]
Debt, weighted average interest rate					4.20%
Long-term line of credit					$ 220,000
Fixed rate debt
Debt Instrument [Line Items]
Long-term debt					523,562	$ 578,096
Debt security, amount, aggregate gross real estate assets net of gross intangible lease liabilities					$ 904,500	981,800
Repayments of debt						40,800
Fixed rate debt | Subsequent event
Debt Instrument [Line Items]
Long-term debt			1,110,000	1,110,000
Repayments of debt			104,100	$ 104,100
Fixed rate debt | Minimum
Debt Instrument [Line Items]
Stated interest rate					2.60%
Fixed rate debt | Maximum
Debt Instrument [Line Items]
Stated interest rate					4.60%
Variable rate debt
Debt Instrument [Line Items]
Debt, weighted average interest rate					5.50%
Long-term debt					$ 94,202			$ 102,600	$ 102,600
Long term debt maturing in the next year					1,300,000	$ 1,200,000
Variable rate debt | Subsequent event
Debt Instrument [Line Items]
Repayments of debt			21,500
Variable rate debt | Minimum
Debt Instrument [Line Items]
Stated interest rate						2.60%
Variable rate debt | Maximum
Debt Instrument [Line Items]
Stated interest rate						5.00%
Variable rate debt | Interest rate swaps
Debt Instrument [Line Items]
Long-term debt					21,500	$ 53,600
Credit facilities
Debt Instrument [Line Items]
Long-term debt					1,421,500	1,336,500					$ 885,000
Long term debt maturing in the next year					99,300
Credit facilities | Subsequent event
Debt Instrument [Line Items]
Repayments of debt			$ 1,110,000
Credit facilities | Affiliated entity
Debt Instrument [Line Items]
Long-term line of credit						$ 235,400
Credit facilities | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Debt, weighted average interest rate						3.70%
Stated interest rate						2.00%
Long-term line of credit						$ 1,100,000
Unused borrowing capacity						480,000
Line of credit, current borrowing capacity						135,500
Line of credit facility, covenant, minimum consolidated net worth						$ 1,750,000
Debt instrument, covenant, fixed charge coverage ratio						1.50
Minimum required assets under management						$ 1,250,000
Credit facilities | JPMorgan Chase Bank, N.A. | CCPT V
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 350,000					350,000
Line of credit facility, covenant, minimum consolidated net worth					$ 225,000	$ 225,000
Line of credit facility, covenant, minimum consolidated net worth, percentage of equity issuance					75.00%	75.00%
Credit facilities | JPMorgan Chase Bank, N.A. | Federal funds rate plus
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						0.50%
Credit facilities | JPMorgan Chase Bank, N.A. | One-Month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						1.00%
Credit facilities | JPMorgan Chase Bank, N.A. | NYFRB Rate Plus | CCPT V
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Credit facilities | JPMorgan Chase Bank, N.A. | Adjusted LIBO Rate | CCPT V
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Credit facilities | JPMorgan Chase Bank, N.A. | Term loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 885,000
Long-term line of credit						1,100,000
Credit facilities | JPMorgan Chase Bank, N.A. | Term loan | CCPT V
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 220,000					220,000
Credit facilities | JPMorgan Chase Bank, N.A. | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						350,000
Long-term line of credit						0
Credit facilities | JPMorgan Chase Bank, N.A. | Revolving Credit Facility | CCPT V
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 130,000
Credit facilities | Citibank | Affiliated entity
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 300,000
Credit facilities | Barclays Bank PLC | Affiliated entity
Debt Instrument [Line Items]
Debt, weighted average interest rate						2.90%
Line of credit, maximum borrowing capacity		$ 500,000
Long-term line of credit						$ 109,100
Credit facilities | Minimum | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Stated interest rate						0.65%
Line of credit facility, covenant, unsecured debt service coverage ratio (greater than)						1.75%
Credit facilities | Minimum | JPMorgan Chase Bank, N.A. | CCPT V
Debt Instrument [Line Items]
Stated interest rate	0.30%
Credit facilities | Minimum | JPMorgan Chase Bank, N.A. | Statutory Reserve Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						1.65%
Credit facilities | Minimum | JPMorgan Chase Bank, N.A. | Statutory Reserve Rate | CCPT V
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.30%
Credit facilities | Maximum | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Stated interest rate						1.25%
Debt instrument, covenant, unsecured debt to unencumbered asset value ratio						60.00%
Line of credit facility, covenant, secured debt ratio						40.00%
Line of credit facility, covenant, ratio of secured debt to total asset value						15.00%
Credit facilities | Maximum | JPMorgan Chase Bank, N.A. | CCPT V
Debt Instrument [Line Items]
Stated interest rate	0.70%
Line of credit facility, covenant, leverage ratio					60.00%	60.00%
Credit facilities | Maximum | JPMorgan Chase Bank, N.A. | Statutory Reserve Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						2.25%
Credit facilities | Maximum | JPMorgan Chase Bank, N.A. | Statutory Reserve Rate | CCPT V
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.70%
Credit facilities | Interest rate swaps | JPMorgan Chase Bank, N.A. | Term loan
Debt Instrument [Line Items]
Debt, weighted average interest rate						3.90%
Long-term line of credit						$ 1,000,000

CREDIT FACILITIES, NOTES PAYA_4

CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES - Schedule of Debt (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Short-Term and Long-Term Debt [Roll Forward]
Total debt, Beginning Balance			$ 2,149,976,000	$ 1,611,261,000	$ 1,611,261,000
Net premiums, Beginning Balance			149,000	241,000	241,000
Total debt, net, Beginning Balance			2,144,993,000	1,604,860,000	1,604,860,000
Total debt, Debt Issuances & Assumptions			692,735,000		956,617,000
Total debt, net, Debt Issuances & Assumptions			691,389,000		955,177,000
Total debt, Repayments & Modifications			(298,021,000)		(417,902,000)
Total debt, net, Repayments & Modifications			(297,976,000)		(417,716,000)
Net premiums, Accretion and (Amortization)			(149,000)	(45,000)	(92,000)	$ (90,000)	$ (88,000)
Accretion & (Amortization)			2,403,000		2,672,000
Total debt, Ending Balance	$ 2,544,690,000		2,544,690,000		2,149,976,000	1,611,261,000
Net premiums, Ending Balance	0		0		149,000	241,000
Total debt, net, Ending Balance	2,540,809,000		2,540,809,000		2,144,993,000	1,604,860,000
Loss on extinguishment of debt	1,478,000	$ 370,000	1,478,000	4,752,000	4,841,000	7,227,000	$ 46,000
Notes payable
Short-Term and Long-Term Debt [Roll Forward]
Total debt, Beginning Balance			578,096,000	726,261,000	726,261,000
Total debt, Debt Issuances & Assumptions					92,212,000
Total debt, Repayments & Modifications					(240,377,000)
Total debt, Ending Balance					578,096,000	726,261,000
Credit facilities
Short-Term and Long-Term Debt [Roll Forward]
Total debt, Beginning Balance			1,336,500,000	885,000,000	885,000,000
Deferred costs, Beginning Balance			(3,543,000)	(3,933,000)	(3,933,000)
Total debt, Debt Issuances & Assumptions			320,000,000		629,025,000
Deferred costs, Debt Issuances & Assumptions			0		(1,440,000)
Total debt, Repayments & Modifications			(235,000,000)		(177,525,000)
Deferred costs, Repayments & Modifications			0
Deferred costs, Accretion and (Amortization)			1,466,000		1,830,000
Total debt, Ending Balance	1,421,500,000		1,421,500,000		1,336,500,000	885,000,000
Deferred costs, Ending Balance	(2,077,000)		(2,077,000)		(3,543,000)	(3,933,000)
Credit facility borrowings assumed upon completion of mergers					287,500,000
Repurchase facilities
Short-Term and Long-Term Debt [Roll Forward]
Total debt, Beginning Balance			235,380,000
Total debt, Debt Issuances & Assumptions			270,182,000		235,380,000
Total debt, Repayments & Modifications			(136,000)		0
Total debt, Ending Balance	505,426,000		505,426,000		235,380,000
Fixed rate debt
Short-Term and Long-Term Debt [Roll Forward]
Total debt, Beginning Balance			578,096,000
Deferred costs, Beginning Balance			(1,589,000)	$ (2,709,000)	(2,709,000)
Total debt, Debt Issuances & Assumptions			0
Total debt, Repayments & Modifications			(54,534,000)
Deferred costs, Repayments & Modifications			45,000		186,000
Deferred costs, Accretion and (Amortization)			374,000		934,000
Total debt, Ending Balance	523,562,000		523,562,000		578,096,000
Deferred costs, Ending Balance	(1,170,000)		(1,170,000)		(1,589,000)	$ (2,709,000)
Variable rate debt
Short-Term and Long-Term Debt [Roll Forward]
Deferred costs, Beginning Balance			0
Total debt, Debt Issuances & Assumptions			102,553
Deferred costs, Debt Issuances & Assumptions			(1,346)
Total debt, Repayments & Modifications			(8,351)
Deferred costs, Repayments & Modifications			0
Deferred costs, Accretion and (Amortization)			712
Total debt, Ending Balance	94,202,000		94,202,000
Deferred costs, Ending Balance	$ (634)		$ (634)		$ 0

CREDIT FACILITIES, NOTES PAYA_5

CREDIT FACILITIES, NOTES PAYABLE AND REPURCHASE FACILITIES - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 105,171	$ 138,210
2022	1,207,098	1,134,391
2023	757,442	554,783
2024	474,979	322,592
2025	0	0
Thereafter	0	0
Total	$ 2,544,690	$ 2,149,976	$ 1,611,261

SUPPLEMENTAL CASH FLOW DISCLO_3

SUPPLEMENTAL CASH FLOW DISCLOSURES (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Distributions declared and unpaid	$ 10,997	$ 4,990	$ 10,969	$ 16,510	$ 16,518
Accrued capital expenditures	4,104	139	160	1,165	557
Accrued deferred financing costs	32	0
Real estate acquired via foreclosure	191,990	0
Foreclosure of assets securing the mezzanine loans	(79,968)	0
Mortgage notes payable assumed in connection with foreclosure of assets securing the mezzanine loans	102,553	0
Change in interest income capitalized to loans held-for-investment	(9,469)	539	539	8,546	384
Common stock issued through distribution reinvestment plan	6,660	28,774	34,191	82,388	91,764
Common stock issued in connection with the Mergers			384,319	0	0
Interest rate swaps assumed in the Mergers			(9,115)	0	0
Mortgage notes assumed by buyer in real estate disposition			0	(205,765)	0
Debt assumed in the Mergers			379,737	0	0
Real estate assets acquired in the Mergers			761,326	0	0
Assets assumed in the Mergers			4,424	0	0
Liabilities assumed in the Mergers			6,389	0	0
Change in fair value of derivative instruments	6,031	(7,280)	727	(14,913)	3,875
Change in fair value of real estate-related securities	1,404	0
Supplemental Cash Flow Disclosures:
Interest paid	34,183	30,686	60,990	97,418	93,424
Cash paid for taxes	$ 1,412	$ 466	$ 1,243	$ 1,218	$ 1,475

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Aug. 16, 2021	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 21, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Cash and cash equivalents			$ 174,217	$ 128,408		$ 340,939	$ 473,355	$ 19,674	$ 13,843
Subsequent event | Broadly syndicated loans
Financing Receivable, Impaired [Line Items]
Loans settled		$ 0
Reserves for Settlement of Loan Acquisitions
Financing Receivable, Impaired [Line Items]
Cash and cash equivalents			43,200	41,000	$ 41,000		$ 126,800
Reserves for Settlement of Loan Acquisitions | Subsequent event | Broadly syndicated loans
Financing Receivable, Impaired [Line Items]
Loans settled	$ 28,500
Reserves For Settlement Of Loan Sales
Financing Receivable, Impaired [Line Items]
Cash and cash equivalents			10,400	2,600
Reserves For Settlement Of Loan Sales | Subsequent event
Financing Receivable, Impaired [Line Items]
Loans settled	$ 6,600
Unfunded Loan Commitment
Financing Receivable, Impaired [Line Items]
Other commitment			$ 108,300	$ 169,100

RELATED-PARTY TRANSACTIONS AN_3

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Management and investment advisory fees (Details) - USD ($)	Dec. 06, 2019	Aug. 20, 2019	Jun. 30, 2021
Related Party Transaction [Line Items]
Investment advisory fee, percent per quarter	0.375%
Advisors
Related Party Transaction [Line Items]
Management fee per annum		$ 250,000	$ 250,000
Management fee per quarter		$ 62,500	$ 62,500
Management fee percent per annum		1.50%	1.50%
Management fee percent per quarter		(0.375%)	0.375%
Investment advisory fee, percent per annum	1.50%
Investment sub-advisory fees, percent per quarter	50.00%

RELATED-PARTY TRANSACTIONS AN_4

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Incentive Compensation (Details) - Advisors - USD ($)	Aug. 20, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Incentive compensation in excess of product, quarterly percentage	20.00%			20.00%
Incentive compensation in excess of product, annualized percentage	7.00%			7.00%
Incentive compensation fees		$ 0	$ 0	$ 0	$ 0	$ 0

RELATED-PARTY TRANSACTIONS AN_5

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Acquisition Fees and Expenses (Details) - Maximum - Advisors	Aug. 20, 2019
Acquisition Fee
Related Party Transaction [Line Items]
Acquisition and advisory fee (up to)	2.00%
Acquisition fees and expenses
Related Party Transaction [Line Items]
Acquisition fees and expenses, reimbursement (up to)	6.00%

RELATED-PARTY TRANSACTIONS AN_6

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Advisory Fees and Expenses (Details) - Advisors	Aug. 20, 2019USD ($)
Average invested assets between $0 to $2 billion | Minimum
Related Party Transaction [Line Items]
Average invested assets	$ 0
Average invested assets between $0 to $2 billion | Maximum
Related Party Transaction [Line Items]
Average invested assets	$ 2,000,000,000
Average invested assets between $0 to $2 billion | Advisory fees and expenses
Related Party Transaction [Line Items]
Asset management or advisory fees (rate of)	0.75%
Average invested assets between $2 billion to $4 billion | Minimum
Related Party Transaction [Line Items]
Average invested assets	$ 2,000,000,000
Average invested assets between $2 billion to $4 billion | Maximum
Related Party Transaction [Line Items]
Average invested assets	$ 4,000,000,000
Average invested assets between $2 billion to $4 billion | Advisory fees and expenses
Related Party Transaction [Line Items]
Asset management or advisory fees (rate of)	0.70%
Average invested assets over $4 billion | Minimum
Related Party Transaction [Line Items]
Average invested assets	$ 4,000,000,000
Average invested assets over $4 billion | Advisory fees and expenses
Related Party Transaction [Line Items]
Asset management or advisory fees (rate of)	0.65%

RELATED-PARTY TRANSACTIONS AN_7

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Operating Expenses (Details) - Advisors - Operating expenses - Maximum	Aug. 20, 2019
Related Party Transaction [Line Items]
Operating expense reimbursement, percent of average invested assets	2.00%
Operating expense reimbursement, percent of net income	25.00%

RELATED-PARTY TRANSACTIONS AN_8

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Disposition Fees (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Aug. 20, 2019
Related Party Transaction [Line Items]
Due to affiliates	$ 15,957	$ 14,723		$ 14,458
Advisors
Related Party Transaction [Line Items]
Due to affiliates	$ 16,000	$ 14,700
Advisors | Property sales commission
Related Party Transaction [Line Items]
Commissions performance and other fees	1.00%
Advisors | Property portfolio
Related Party Transaction [Line Items]
Commissions performance and other fees	6.00%
Advisors | Disposition Fee for Sale of Real Estate | Maximum
Related Party Transaction [Line Items]
Commissions performance and other fees					1.00%
Advisors | Brokerage Commissions And Disposition Fees | Maximum
Related Party Transaction [Line Items]
Commissions performance and other fees					6.00%
Advisors | Acquisitions and Operations Costs
Related Party Transaction [Line Items]
Due to affiliates	$ 16,000		$ 13,800

RELATED-PARTY TRANSACTIONS AN_9

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Subordinated Performance Fees (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2021	Aug. 20, 2019
Related Party Transaction [Line Items]
Due to affiliates	$ 14,723,000	$ 14,458,000		$ 15,957,000
Advisors
Related Party Transaction [Line Items]
Cumulative noncompounded annual return					8.00%
Due to affiliates	14,700,000			$ 16,000,000
Advisors | Subordinate Performance Fees on Event of Sale of Company
Related Party Transaction [Line Items]
Commissions performance and other fees					15.00%
Advisors | Subordinate Performance Fees for Listing
Related Party Transaction [Line Items]
Commissions performance and other fees					15.00%
Advisors | Subordinated Performance Fees
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	0	$ 0
Advisors | Acquisition, Disposition and Operating Activities Fees and Expenses
Related Party Transaction [Line Items]
Due to affiliates	$ 14,700,000	$ 14,500,000

RELATED-PARTY TRANSACTIONS A_10

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Fees and Expense Reimbursements Related Party Transactions (Details) - Advisors - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Management fees
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 11,755,000	$ 9,750,000	$ 23,332,000	$ 19,600,000
Management fees and expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party					$ 44,744,000	$ 16,350,000	$ 0
Acquisition fees and expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party					550,000	2,110,000	2,749,000
Disposition fees
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	0	0	341,000	434,000	3,967,000	478,000
Advisory fees and expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party					0	25,989,000	43,399,000
Operating expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party					3,651,000	$ 3,594,000	$ 5,163,000
Merger related expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party					308,000
Related party transaction expense reimbursed					$ 260,000
Expense reimbursements to related parties
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 3,210,000	$ 3,057,000	$ 5,871,000	$ 5,235,000

RELATED-PARTY TRANSACTIONS A_11

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Due to Affiliates (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Due to affiliates	$ 15,957	$ 14,723	$ 14,458
Affiliated entity
Related Party Transaction [Line Items]
Due to affiliates		14,700	$ 14,500
Advisors
Related Party Transaction [Line Items]
Due to affiliates	$ 16,000	$ 14,700

RELATED-PARTY TRANSACTIONS A_12

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS - Development Management Agreements (Details)	Jul. 01, 2021building	Jan. 07, 2021apartmentUnitbuilding	Jun. 30, 2021apartmentUnit
Development Management Agreements | CIM NY Management, LLC
Related Party Transaction [Line Items]
Management fee, percentage		4.00%
Condominium Units | Foreclosure of Mezzanine Loans
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure		75
Condominium Units | Foreclosure of Mezzanine Loans | Consolidated properties
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure		75	75
Rental Unit | Foreclosure of Mezzanine Loans
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure		21
Rental Unit | Foreclosure of Mezzanine Loans | Consolidated properties
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure		21	21
Buildings | Foreclosure of Mezzanine Loans
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure | building		4
Buildings | Foreclosure of Mezzanine Loans | Development Management Agreements
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure | building		4
Buildings | Foreclosure of Mezzanine Loans | Consolidated properties
Related Party Transaction [Line Items]
Number of real estate properties secured through foreclosure | building	4	4

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 21, 2020	Aug. 11, 2010	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 26, 2021	Aug. 14, 2020
Class of Stock [Line Items]
Common stock, par value (USD per share)			$ 0.01			$ 0.01	$ 0.01
Common Stock
Class of Stock [Line Items]
Issuance of common stock (shares)		20,000	917,769	1,242,475	2,223,298	4,211,747	9,335,895	9,615,850
Share price (USD per share)		$ 10
Issuance of common stock in connection with the Mergers (shares)	52,600,000					52,574,431
Consideration per share (USD per share)	$ 7.31
Distribution reinvestment plan
Class of Stock [Line Items]
Common stock, shares authorized, value (maximum)						$ 600	$ 600	$ 600
Common stock, par value (USD per share)						$ 0.01
Share price (USD per share)									$ 7.20	$ 7.31

STOCKHOLDERS' EQUITY - Distribu

STOCKHOLDERS' EQUITY - Distribution Reinvestment Plan (Details) - USD ($) $ in Thousands, shares in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock issued through distribution reinvestment plan	$ 6,660	$ 28,774	$ 34,191	$ 82,388	$ 91,764
Distribution reinvestment plan
Class of Stock [Line Items]
Dividend reinvestment plan, termination notice period			10 days
Shares issued pursuant to a distribution reinvestment plan (shares)			4.2	9.3	9.6
Common stock issued through distribution reinvestment plan			$ 34,200	$ 82,400	$ 91,800

STOCKHOLDERS' EQUITY - Share Re

STOCKHOLDERS' EQUITY - Share Redemption Program (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity, Class of Treasury Stock [Line Items]
Redemptions of common stock	$ 19,191	$ 19,514	$ 48,066	$ 84,088	$ 93,830
Unfulfilled redemption requests (shares)			44,500,000
The Share Redemption Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, required holding period			1 year
Stock repurchase program, termination notice period			30 days
Stock repurchased and retired during period (shares)			6,000,000	9,500,000	9,800,000
Redemptions of common stock			$ 48,100	$ 84,100	$ 93,800
The Share Redemption Program | Maximum
Equity, Class of Treasury Stock [Line Items]
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding			5.00%
Stock repurchase program, number of shares authorized to be repurchased per quarter, prior year percentage of weighted average number of shares outstanding			1.25%
Stock redemption program, redemption priority (shares)			250

STOCKHOLDERS' EQUITY - Distri_2

STOCKHOLDERS' EQUITY - Distributions Payable and Distribution Policy (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 29, 2021	May 28, 2021	Apr. 29, 2021	Mar. 29, 2021	Feb. 25, 2021	Jan. 28, 2021	Dec. 30, 2020	Nov. 27, 2020	Oct. 29, 2020	Sep. 29, 2020	Aug. 28, 2020	Jul. 30, 2020	Jun. 30, 2020	May 31, 2020	Apr. 30, 2020	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2012	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2019	Dec. 31, 2015
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)																			$ 0.001706776			$ 0.001707848				$ 0.001706776	$ 0.001711452	$ 0.001712523
Distributions declared on common stock (USD per share)							$ 0.0303	$ 0.0303	$ 0.0303	$ 0.0303	$ 0.0303	$ 0.0304	$ 0.0161	$ 0.0130	$ 0.0130	$ 0.09	$ 0.09	$ 0.04	$ 0.15				$ 0.38	$ 0.625	$ 0.625
Dividends payable																				$ 10,997	$ 4,990		$ 10,969	$ 16,510	$ 16,518
Forecast
Class of Stock [Line Items]
Distributions declared on common stock (USD per share)	$ 0.0303	$ 0.0303	$ 0.0303
Subsequent event
Class of Stock [Line Items]
Distributions declared on common stock (USD per share)				$ 0.0303	$ 0.0303	$ 0.0303

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - CCPT IV 2018 Equity Incentive Plan - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Aug. 10, 2018
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)							400,000
Number of shares available for future grants (shares)	341,000		341,000		345,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period to each independent member of board of directors (shares)			58,700		11,000
Grants in period (shares)					54,500
Shares vested (shares)			32,500		32,500
Vesting period			1 year		1 year
Forfeited in period (shares)			26,200		22,000
Unrecognized compensation expense	$ 57,000		$ 57,000		$ 121,000
Restricted stock | General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 49,000	$ 40,000	$ 89,000	$ 80,000	$ 160,000	$ 138,000

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	0.00%	39.00%	52.00%
Nondividend distributions	100.00%	7.00%	48.00%
Capital gain distributions	0.00%	54.00%	0.00%
Total	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense (benefit), continuing operations	$ 568,000	$ 1,500,000	$ 1,400,000
Unrecognized tax benefits	$ 0	$ 0

LEASES - Narrative (Details)

LEASES - Narrative (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)lease	Dec. 31, 2020USD ($)lease	Jan. 01, 2021USD ($)
Lessor, weighted average remaining lease term		8 years 3 months 18 days	8 years 9 months 18 days
Number of operating leases | lease		1	1
Operating lease, remaining lease term		12 years 2 months 12 days	12 years 8 months 12 days
Lease liability	$ 2,400,000	$ 2,400,000	$ 2,400,000	$ 2,700,000
Operating lease, discount rate	4.30%	4.30%	4.30%
Ground lease, expense	$ 63,000	$ 125,000	$ 250,000
Ground lease, payments	61,000	121,000	242,000
Future minimum rental payments, remainder of 2021	125,000	125,000
Future minimum rental payments, 2021 / 2022	250,000	250,000	250,000
Future minimum rental payments, 2022 / 2023	250,000	250,000	250,000
Future minimum rental payments, 2023 / 2024	250,000	250,000	250,000
Future minimum rental payments, 2024 / 2025	250,000	250,000	250,000
Future minimum rental payments, 2025 / 2026	250,000	250,000	250,000
Future minimum rental payments, Thereafter	$ 1,700,000	$ 1,700,000	$ 1,900,000

LEASES - Future Minimum Rental

LEASES - Future Minimum Rental Income (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Future Minimum Rental Income
Remainder 2021	$ 118,547
2021 / 2022	234,443	$ 255,071
2022 / 2023	218,823	249,576
2023 / 2024	200,270	232,486
2024 / 2025	181,734	212,373
2025		192,954
Thereafter	1,125,513
Thereafter		1,242,601
Total	$ 2,079,330	$ 2,385,061

LEASES - Schedule of Components

LEASES - Schedule of Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Fixed rental and other property income	$ 64,060	$ 51,423	$ 130,601	$ 108,096	$ 221,445	$ 342,453	$ 368,847
Variable rental and other property income	11,242	8,680	21,631	20,443	40,085	50,771	60,789
Total rental and other property income	$ 75,302	$ 60,103	$ 152,232	$ 128,539	$ 261,530	$ 393,224	$ 429,636

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	Jan. 07, 2021loan	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2021USD ($)segmentloan	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)loansegment	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)	Aug. 16, 2021USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment											2		2
Revenues:
Rental and other property income		$ 75,302			$ 60,103						$ 152,232	$ 128,539	$ 261,530	$ 393,224	$ 429,636
Interest income		16,460			7,193						28,413	12,764	29,393	20,132	1,640
Total revenues		91,762	$ 76,978	$ 72,642	67,296	$ 74,007	$ 93,088	$ 105,479	$ 105,529	$ 109,260	180,645	141,303	290,923	413,356	431,276
Operating expenses:
General and administrative					3,020							5,902	15,385	13,729	14,127
Property operating					4,811							11,676	23,399	33,462	30,267
Real estate tax		7,706			6,748						19,925	13,726	27,691	32,196	37,898
Expense reimbursements to related parties		3,210			3,057						5,871	5,235
Management fees		11,755			9,750						23,332	19,600
Management and advisory fees and expenses													44,743	42,339	43,399
Transaction-related		27			125						31	250	905	2,278	2,601
Depreciation and amortization		24,647			19,696						50,385	40,519	80,973	107,867	140,979
Real estate impairment		77			3,831						4,377	15,507	16,737	72,939	32,975
Provision for credit losses		123			7,905						691	25,682	68,356	0	0
Total operating expenses		62,506			58,943						134,120	138,097	278,189	304,810	302,246
Gain on disposition of real estate and condominium developments, net		46,469			3,791						46,469	16,901	27,518	180,666	6,299
Merger-related expenses, net													(2,193)	0	0
Merger termination fee income													7,380	0	0
Operating income		75,725			12,144						92,994	20,107	45,439	289,212	135,329
Other expense:
Interest expense and other, net					(15,520)							(31,276)
Loss on extinguishment of debt		(1,478)			(370)						(1,478)	(4,752)	(4,841)	(7,227)	(46)
Net income (loss)		57,787	(11,776)	$ 4,179	(3,746)	$ (12,175)	162,590	2,573	9,006	8,851	55,034	(15,921)	(23,518)	183,020	37,412
Segment net income (loss) attributable to non-controlling interest													0	121	134
Net income attributable to the Company							162,568	$ 2,541	$ 8,973	$ 8,817			(23,518)	182,899	37,278
Assets		4,849,162	4,459,609				3,668,623				4,849,162		4,459,609	$ 3,668,623
Mezzanine Loans
Revenues:
Interest income		7,200									12,800
Operating expenses:
Provision for credit losses											$ 13,000		$ 70,400
Other expense:
Number of Loans | loan	8										8		4	8
Operating Segments
Revenues:
Rental and other property income		75,302			60,103						$ 152,232	128,539	$ 261,530	$ 393,224	429,636
Interest income		16,460			7,193						28,413	12,764	29,393	20,132	1,640
Total revenues		91,762			67,296						180,645	141,303	290,923	413,356	431,276
Operating expenses:
General and administrative		3,605			3,020						8,033	5,902	15,385	13,729	14,127
Property operating		11,356			4,811						21,475	11,676	23,399	33,462	30,267
Real estate tax		7,706			6,748						19,925	13,726	27,691	32,196	37,898
Expense reimbursements to related parties		3,210			3,057						5,871	5,235
Management fees		11,755			9,750						23,332	19,600
Management and advisory fees and expenses													44,743	42,339	43,399
Transaction-related		27			125						31	250	905	2,278	2,601
Depreciation and amortization		24,647			19,696						50,385	40,519	80,973	107,867	140,979
Real estate impairment		77			3,831						4,377	15,507	16,737	72,939	32,975
Provision for credit losses		123			7,905						691	25,682	68,356
Total operating expenses		62,506			58,943						134,120	138,097	278,189	304,810	302,246
Gain on disposition of real estate and condominium developments, net		46,469			3,791						46,469	16,901	27,518	180,666	6,299
Merger-related expenses, net					0								(2,193)
Merger termination fee income					0								7,380
Operating income		75,725			12,144						92,994	20,107	45,439	289,212	135,329
Other expense:
Interest expense and other, net		(16,460)			(15,520)						(36,482)	(31,276)	(64,116)	(98,965)	(97,871)
Loss on extinguishment of debt		(1,478)			(370)						(1,478)	(4,752)	(4,841)	(7,227)	(46)
Net income (loss)		57,787			(3,746)						55,034	(15,921)		183,020	37,412
Segment net income (loss) attributable to non-controlling interest													(23,518)	121	134
Net income attributable to the Company														182,899	37,278
Assets		4,849,162	4,459,609		3,664,335		3,668,623				4,849,162	3,664,335	4,459,609	3,668,623	4,617,371	$ 4,849,162
Operating Segments | Real Estate
Revenues:
Rental and other property income		75,203			60,103						151,998	128,539	261,530	393,224	429,636
Interest income		0			0						0	0	0	0	0
Total revenues		75,203			60,103						151,998	128,539	261,530	393,224	429,636
Operating expenses:
General and administrative		55			55						119	117	291	428	502
Property operating		7,613			4,811						14,742	11,676	23,399	33,462	30,267
Real estate tax		7,196			6,748						15,065	13,726	27,691	32,196	37,898
Expense reimbursements to related parties					0						0	0
Management fees		8,533			8,042						17,864	17,523
Management and advisory fees and expenses													32,164	35,557	38,032
Transaction-related		27			120						31	245	346	288	85
Depreciation and amortization		24,647			19,696						50,385	40,519	80,973	107,867	140,979
Real estate impairment		77			3,831						4,377	15,507	16,737	72,939	32,975
Provision for credit losses		0			0						0	0	0
Total operating expenses		48,148			43,303						102,583	99,313	181,601	282,737	280,738
Gain on disposition of real estate and condominium developments, net		44,976			3,791						44,976	16,901	27,518	180,666	6,299
Merger-related expenses, net					0								0
Merger termination fee income					0								0
Operating income		72,031			20,591						94,391	46,127	107,447	291,153	155,197
Other expense:
Interest expense and other, net		(3,713)			(5,560)						(7,829)	(11,895)	(21,380)	(45,606)	(49,458)
Loss on extinguishment of debt		(1,372)			(12)						(1,372)	(4,394)	(4,394)	(6,482)	(46)
Net income (loss)		66,946			15,019						85,190	29,838		239,065	105,693
Segment net income (loss) attributable to non-controlling interest													81,673	121	134
Net income attributable to the Company														238,944	105,559
Assets		3,089,744	3,405,590		2,712,707		2,895,609				3,089,744	2,712,707	3,405,590	2,895,609	4,502,999	3,089,744
Operating Segments | Credit
Revenues:
Rental and other property income		0			0						0	0	0	0	0
Interest income		16,460			7,193						28,413	12,764	29,393	20,132	1,640
Total revenues		16,460			7,193						28,413	12,764	29,393	20,132	1,640
Operating expenses:
General and administrative		331			512						713	524	2,080	10	0
Property operating		0			0						0	0	0	0	0
Real estate tax		0			0						0	0	0	0	0
Expense reimbursements to related parties		0			0						0	0
Management fees		3,222			1,708						5,468	2,077
Management and advisory fees and expenses													7,861	1,688	53
Transaction-related		0			5						0	5	9	1,242	1,786
Depreciation and amortization		0			0						0	0	0	0	0
Real estate impairment		0			0						0	0	0	0	0
Provision for credit losses		123			7,905						691	25,682	68,356
Total operating expenses		3,676			10,130						6,872	28,288	78,306	2,940	1,839
Gain on disposition of real estate and condominium developments, net		0			0						0	0	0	0	0
Merger-related expenses, net					0								0
Merger termination fee income					0								0
Operating income		12,784			(2,937)						21,541	(15,524)	(48,913)	17,192	(199)
Other expense:
Interest expense and other, net		(3,341)			(762)						(6,888)	(562)	(5,101)	(19)	0
Loss on extinguishment of debt		0			0						0	0	0	0	0
Net income (loss)		9,443			(3,699)						14,653	(16,086)		17,173	(199)
Segment net income (loss) attributable to non-controlling interest													(54,014)	0	0
Net income attributable to the Company														17,173	(199)
Assets		1,479,061	949,764		708,084		551,805				1,479,061	708,084	949,764	551,805	90,788	1,479,061
Corporate And Reconciling Items | Corporate/Other
Revenues:
Rental and other property income		99			0						234	0	0	0	0
Interest income		0			0						0	0	0	0	0
Total revenues		99			0						234	0	0	0	0
Operating expenses:
General and administrative		3,219			2,453						7,201	5,261	13,014	13,291	13,625
Property operating		3,743			0						6,733	0	0	0	0
Real estate tax		510			0						4,860	0	0	0	0
Expense reimbursements to related parties		3,210			3,057						5,871	5,235
Management fees		0			0						0	0
Management and advisory fees and expenses													4,718	5,094	5,314
Transaction-related		0			0						0	0	550	748	730
Depreciation and amortization		0			0						0	0	0	0	0
Real estate impairment		0			0						0	0	0	0	0
Provision for credit losses		0			0						0	0	0
Total operating expenses		10,682			5,510						24,665	10,496	18,282	19,133	19,669
Gain on disposition of real estate and condominium developments, net		1,493			0						1,493	0	0	0	0
Merger-related expenses, net					0								(2,193)
Merger termination fee income					0								7,380
Operating income		(9,090)			(5,510)						(22,938)	(10,496)	(13,095)	(19,133)	(19,669)
Other expense:
Interest expense and other, net		(9,406)			(9,198)						(21,765)	(18,819)	(37,635)	(53,340)	(48,413)
Loss on extinguishment of debt		(106)			(358)						(106)	(358)	(447)	(745)	0
Net income (loss)		(18,602)			(15,066)						(44,809)	(29,673)		(73,218)	(68,082)
Segment net income (loss) attributable to non-controlling interest													(51,177)	0	0
Net income attributable to the Company														(73,218)	(68,082)
Assets		$ 280,357	$ 104,255		$ 243,544		$ 221,209				$ 280,357	$ 243,544	$ 104,255	$ 221,209	$ 23,584	$ 280,357

QUARTERLY RESULTS (UNAUDITED)_2

QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									6 Months Ended		12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 91,762	$ 76,978	$ 72,642	$ 67,296	$ 74,007	$ 93,088	$ 105,479	$ 105,529	$ 109,260	$ 180,645	$ 141,303	$ 290,923	$ 413,356	$ 431,276
Net (loss) income	$ 57,787	$ (11,776)	$ 4,179	$ (3,746)	$ (12,175)	162,590	2,573	9,006	8,851	$ 55,034	$ (15,921)	(23,518)	183,020	37,412
Net income attributable to the Company						$ 162,568	$ 2,541	$ 8,973	$ 8,817			$ (23,518)	$ 182,899	$ 37,278
Basic and diluted net income (loss) per common share (USD per share)	$ 0.16	$ (0.04)	$ 0.01	$ (0.01)	$ (0.04)	$ 0.52	$ 0.01	$ 0.03	$ 0.03	$ 0.15	$ (0.05)	$ (0.08)	$ 0.59	$ 0.12

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands	Jul. 01, 2021building	Jan. 07, 2021ft²apartmentUnitbuildinginvestment	Dec. 31, 2020USD ($)property	Aug. 16, 2021USD ($)	Mar. 31, 2021USD ($)property	Jun. 30, 2021USD ($)apartmentUnitproperty	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Subsequent Event [Line Items]
Number of properties disposed | property			516			469		516
Proceeds from disposition of properties						$ 304,370	$ 157,198	$ 263,797	$ 1,399,953	$ 64,180
CMBS
Subsequent Event [Line Items]
Net investments in debt securities			$ 76,600			$ 28,500		$ 76,600
Consolidated properties
Subsequent Event [Line Items]
Number of properties disposed | property									9	9
Condominium Units | Foreclosure of Mezzanine Loans
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		75
Condominium Units | Foreclosure of Mezzanine Loans | Consolidated properties
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		75				75
Rental Unit | Foreclosure of Mezzanine Loans
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		21
Rental Unit | Foreclosure of Mezzanine Loans | Consolidated properties
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | apartmentUnit		21				21
Buildings | Foreclosure of Mezzanine Loans
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | building		4
Buildings | Foreclosure of Mezzanine Loans | Consolidated properties
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | building	4	4
Subsequent event
Subsequent Event [Line Items]
Real estate property purchase consideration				$ 118,800
Proceeds from disposition of properties				$ 115,500	$ 3,500
Subsequent event | CMBS
Subsequent Event [Line Items]
Net investments in debt securities					28,500
Subsequent event | Credit facilities | Barclays Bank PLC | Affiliated entity
Subsequent Event [Line Items]
Repurchase facilities in an aggregate amount			$ 122,300
Subsequent event | Foreclosure of Mezzanine Loans
Subsequent Event [Line Items]
Area of real estate property secured | ft²		164,000
Subsequent event | Broadly syndicated loans
Subsequent Event [Line Items]
Debt settled					$ 37,400
Subsequent event | Commercial Real Estate
Subsequent Event [Line Items]
Number of properties disposed | property					1
Real estate property purchase consideration					$ 3,700
Subsequent event | Condominium Units | Foreclosure of Mezzanine Loans | Consolidated properties
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | investment		75
Subsequent event | Rental Unit | Foreclosure of Mezzanine Loans | Consolidated properties
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | investment		21
Subsequent event | Buildings | Foreclosure of Mezzanine Loans
Subsequent Event [Line Items]
Number of real estate properties secured through foreclosure | building		4

SUBSEQUENT EVENTS - Redemptions

SUBSEQUENT EVENTS - Redemptions of Shares of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	2 Months Ended	3 Months Ended		12 Months Ended
	Aug. 16, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Redemptions of common stock		$ 19,191	$ 19,514	$ 48,066	$ 84,088	$ 93,830
Subsequent event
Subsequent Event [Line Items]
Redemption of common stock (shares)	1.7
Redemptions of common stock	$ 12,000
Redemption price per Share (usd per share)	$ 7.20
Remaining redemption (shares)	31.1

SUBSEQUENT EVENTS - Property Di

SUBSEQUENT EVENTS - Property Disposition (Details) $ in Thousands	2 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	Aug. 16, 2021USD ($)property	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Net proceeds from disposition of real estate assets and condominium developments			$ 304,370	$ 157,198	$ 263,797	$ 1,399,953	$ 64,180
Gain (loss) on sale of properties			$ 46,469	$ 16,901	$ 27,518	$ 180,666	$ 6,299
Subsequent event
Subsequent Event [Line Items]
Number of properties disposed | property	61
Aggregate gross sales price	$ 118,800
Net proceeds from disposition of real estate assets and condominium developments	115,500	$ 3,500
Gain (loss) on sale of properties	$ 27,000

SUBSEQUENT EVENTS - Broadly Syn

SUBSEQUENT EVENTS - Broadly Syndicated Loans (Details) - Broadly Syndicated Loans - Subsequent event - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Aug. 16, 2021	Mar. 31, 2021
Subsequent Event [Line Items]
Debt settled		$ 37.4
Loans settled		$ 0
Reserves for Settlement of Loan Acquisitions
Subsequent Event [Line Items]
Debt settled	$ 62.3
Loans settled	$ 28.5

SUBSEQUENT EVENTS - CRE Loans (

SUBSEQUENT EVENTS - CRE Loans (Details) $ in Millions	2 Months Ended
	Aug. 16, 2021USD ($)
CRE Loans | Subsequent event | Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from principal repayments	$ 99.6

SUBSEQUENT EVENTS - Derivative

SUBSEQUENT EVENTS - Derivative Instruments and Notes Payable (Details) $ in Thousands	2 Months Ended	6 Months Ended	12 Months Ended
	Aug. 16, 2021USD ($)swap_agreement	Jun. 30, 2021USD ($)swap_agreement	Dec. 31, 2020USD ($)swap_agreement	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Outstanding debt | $		$ 2,544,690	$ 2,149,976	$ 1,611,261
Subsequent event
Subsequent Event [Line Items]
Repayment of mortgage notes payable | $	$ 21,500
Subsequent event | Credit and Security Agreement
Subsequent Event [Line Items]
Outstanding debt | $	$ 220,000
Interest Rate Swap
Subsequent Event [Line Items]
Number of interest rate terminated | swap_agreement		2	1
Interest Rate Swap | Subsequent event
Subsequent Event [Line Items]
Number of interest rate derivatives matured | swap_agreement	1
Number of interest rate terminated | swap_agreement	2

SUBSEQUENT EVENTS - Credit and

SUBSEQUENT EVENTS - Credit and Security Agreement (Details) - USD ($) $ in Millions	Aug. 16, 2021	Dec. 21, 2020
Subsequent Event [Line Items]
Line of credit maximum borrowing capacity		$ 130
Subsequent event
Subsequent Event [Line Items]
Line of credit maximum borrowing capacity	$ 774
Subsequent event | Credit and Security Agreement
Subsequent Event [Line Items]
Line of credit maximum borrowing capacity	$ 50

SUBSEQUENT EVENTS - Repurchase

SUBSEQUENT EVENTS - Repurchase Facilities (Details) $ in Millions	2 Months Ended
	Aug. 16, 2021USD ($)
Subsequent event | Credit facilities | Amended Citi Repurchase Agreement
Subsequent Event [Line Items]
Repayments of debt	$ 66.4

SUBSEQUENT EVENTS - First Lien

SUBSEQUENT EVENTS - First Lien Mortgage Loan (Details) - Subsequent event $ in Millions	2 Months Ended
	Aug. 16, 2021USD ($)entity
Subsequent Event [Line Items]
First mortgage bond | $	$ 650
First lien mortgage loan on number of single purpose entities | entity	114

SUBSEQUENT EVENTS - Net-Lease M

SUBSEQUENT EVENTS - Net-Lease Mortgage Notes (Details) - USD ($) $ in Millions	Aug. 16, 2021	Dec. 21, 2020
Subsequent Event [Line Items]
Line of credit maximum borrowing capacity		$ 130
Subsequent event
Subsequent Event [Line Items]
Line of credit maximum borrowing capacity	$ 774

SUBSEQUENT EVENTS - Credit Faci

SUBSEQUENT EVENTS - Credit Facilities and Notes Payable (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	12 Months Ended
	Aug. 16, 2021	Aug. 16, 2021	Dec. 31, 2020	Jun. 30, 2021	Dec. 31, 2019
Subsequent Event [Line Items]
Outstanding debt			$ 2,149,976	$ 2,544,690	$ 1,611,261
Notes payable – fixed rate debt
Subsequent Event [Line Items]
Repayments of debt			40,800
Outstanding debt			$ 578,096	$ 523,562
Subsequent event | Notes payable – fixed rate debt
Subsequent Event [Line Items]
Repayments of debt	$ 104,100	$ 104,100
Outstanding debt	$ 1,110,000	$ 1,110,000

SCHEDULE III - Real Estate As_2

SCHEDULE III - Real Estate Assets and Accumulated Depreciation - 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 578,096
Land	901,859
Buildings Improvements	2,533,704
Total Adjustment to Basis	(63,637)
Gross Amount at Which Carried	3,371,926	$ 2,530,311	$ 4,444,041	$ 4,564,592
Accumulated Depreciation	298,364	$ 243,122	$ 385,245	$ 334,476
10 Box Cost Plus: | Conway, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	733
Buildings Improvements	1,654
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,387
Accumulated Depreciation	170
10 Box Cost Plus: | Russellville, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	990
Buildings Improvements	1,470
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,460
Accumulated Depreciation	177
Aaron's Rents: | Arkadelphia, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	183
Buildings Improvements	491
Total Adjustment to Basis	0
Gross Amount at Which Carried	674
Accumulated Depreciation	1
Academy Sports: | Cartersville, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,517
Buildings Improvements	4,574
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,091
Accumulated Depreciation	7
Academy Sports: | Cookeville, TN
Real Estate and Accumulated Depreciation [Line Items]
Land
Buildings Improvements	23,847
Total Adjustment to Basis	73,371
Gross Amount at Which Carried	97,218
Accumulated Depreciation	11,933
Academy Sports: | Greenville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,968
Buildings Improvements	7,054
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,022
Accumulated Depreciation	847
Academy Sports: | McDonough, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,846
Buildings Improvements	5,626
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,472
Accumulated Depreciation	1,047
Academy Sports: | Valdosta, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,838
Land	2,482
Buildings Improvements	5,922
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,404
Accumulated Depreciation	1,343
Actuant Campus: | Columbus, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,090
Buildings Improvements	14,633
Total Adjustment to Basis	0
Gross Amount at Which Carried	16,723
Accumulated Depreciation	19
Advance Auto Parts: | Fairmont, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	253
Buildings Improvements	868
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,121
Accumulated Depreciation	1
Advance Auto Parts: | Hampton,VA
Real Estate and Accumulated Depreciation [Line Items]
Land	645
Buildings Improvements	655
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,300
Accumulated Depreciation	1
Advance Auto Parts: | Mattoon, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	261
Buildings Improvements	1,063
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,324
Accumulated Depreciation	134
Advance Auto Parts: | Stratford,CT
Real Estate and Accumulated Depreciation [Line Items]
Land	755
Buildings Improvements	1,736
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,491
Accumulated Depreciation	2
Advance Auto Parts: | Willmar, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	200
Buildings Improvements	1,279
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,479
Accumulated Depreciation	187
Albany Square: | Albany, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,600
Land	1,606
Buildings Improvements	7,113
Total Adjustment to Basis	373
Gross Amount at Which Carried	9,092
Accumulated Depreciation	1,610
Almeda Crossing: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	4,738
Buildings Improvements	26,245
Total Adjustment to Basis	(8,732)
Gross Amount at Which Carried	22,251
Accumulated Depreciation	415
Aspen Dental: | Rogers,AR
Real Estate and Accumulated Depreciation [Line Items]
Land	289
Buildings Improvements	1,611
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,900
Accumulated Depreciation	2
At Home: | Pearland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	3,663
Buildings Improvements	10,305
Total Adjustment to Basis	0
Gross Amount at Which Carried	13,968
Accumulated Depreciation	14
AutoZone: | Sheffield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	815
Buildings Improvements	0
Total Adjustment to Basis	770
Gross Amount at Which Carried	1,585
Accumulated Depreciation	125
Bass Pro Shop: | Portage, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,428
Buildings Improvements	8,414
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,842
Accumulated Depreciation	14
Bass Pro Shop: | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	945
Buildings Improvements	5,713
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,658
Accumulated Depreciation	1,190
Beavercreek Shopping Center: | Beavercreek, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	5,504
Buildings Improvements	25,178
Total Adjustment to Basis	554
Gross Amount at Which Carried	31,236
Accumulated Depreciation	5,130
Becton Dickinson and Company | Broken Bow, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	244
Buildings Improvements	1,733
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,977
Accumulated Depreciation	333
Bed Bath & Beyond/Golf Smith: | Schaumburg, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,300
Land	4,786
Buildings Improvements	6,149
Total Adjustment to Basis	(1,065)
Gross Amount at Which Carried	9,870
Accumulated Depreciation	458
BJ's Wholesale Club: | Fort Myers, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	5,331
Buildings Improvements	21,692
Total Adjustment to Basis	0
Gross Amount at Which Carried	27,023
Accumulated Depreciation	25
BJ's Wholesale Club: | Roanoke, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,509
Buildings Improvements	14,545
Total Adjustment to Basis	0
Gross Amount at Which Carried	19,054
Accumulated Depreciation	49
Blankenbaker Plaza: | Louisville, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	4,861
Buildings Improvements	10,497
Total Adjustment to Basis	0
Gross Amount at Which Carried	15,358
Accumulated Depreciation	16
Bob Evans: | Akron, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	447
Buildings Improvements	1,537
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,984
Accumulated Depreciation	176
Bob Evans: | Anderson, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	912
Buildings Improvements	1,455
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,367
Accumulated Depreciation	170
Bob Evans: | Austintown, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	305
Buildings Improvements	1,426
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,731
Accumulated Depreciation	176
Bob Evans: | Birch Run, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	733
Buildings Improvements	1,192
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,925
Accumulated Depreciation	143
Bob Evans: | Blue Ash, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	628
Buildings Improvements	1,429
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,057
Accumulated Depreciation	190
Bob Evans: | Chardon, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	333
Buildings Improvements	682
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,015
Accumulated Depreciation	89
Bob Evans: | Chillicothe, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	557
Buildings Improvements	1,524
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,081
Accumulated Depreciation	182
Bob Evans: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	523
Buildings Improvements	1,376
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,899
Accumulated Depreciation	170
Bob Evans: | Dayton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	325
Buildings Improvements	1,438
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,763
Accumulated Depreciation	182
Bob Evans: | Florence, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	496
Buildings Improvements	1,876
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,372
Accumulated Depreciation	232
Bob Evans: | Gallipolis, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	529
Buildings Improvements	2,963
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,492
Accumulated Depreciation	3
Bob Evans: | Hagerstown, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	490
Buildings Improvements	2,789
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,279
Accumulated Depreciation	3
Bob Evans: | Holland, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	314
Buildings Improvements	1,367
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,681
Accumulated Depreciation	168
Bob Evans: | Huntersville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	751
Buildings Improvements	657
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,408
Accumulated Depreciation	78
Bob Evans: | Hurricane, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	297
Buildings Improvements	1,654
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,951
Accumulated Depreciation	185
Bob Evans: | Mansfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	495
Buildings Improvements	2,423
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,918
Accumulated Depreciation	3
Bob Evans: | Milford, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	271
Buildings Improvements	1,498
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,769
Accumulated Depreciation	186
Bob Evans: | Monroe, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	623
Buildings Improvements	2,177
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,800
Accumulated Depreciation	3
Bob Evans: | Monroeville, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,340
Buildings Improvements	848
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,188
Accumulated Depreciation	96
Bob Evans: | Nicholasville, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	731
Buildings Improvements	693
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,424
Accumulated Depreciation	80
Bob Evans: | North Canton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	859
Buildings Improvements	1,393
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,252
Accumulated Depreciation	172
Bob Evans: | Northwood, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	514
Buildings Improvements	2,760
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,274
Accumulated Depreciation	3
Bob Evans: | Peoria, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	620
Buildings Improvements	524
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,144
Accumulated Depreciation	1
Bob Evans: | Piqua, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	413
Buildings Improvements	2,187
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,600
Accumulated Depreciation	3
Bob Evans: | Ripley, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	269
Buildings Improvements	1,304
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,573
Accumulated Depreciation	156
Bob Evans: | Tipp City, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	554
Buildings Improvements	1,120
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,674
Accumulated Depreciation	142
Bob Evans: | Warsaw, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	684
Buildings Improvements	1,222
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,906
Accumulated Depreciation	145
Boston Commons: | Springfield, MA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,101
Buildings Improvements	7,042
Total Adjustment to Basis	280
Gross Amount at Which Carried	10,423
Accumulated Depreciation	1,292
Bottom Dollar Grocery: | Ambridge, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	519
Buildings Improvements	2,985
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,504
Accumulated Depreciation	548
Brynwood Square: | Rockford, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,747
Buildings Improvements	11,393
Total Adjustment to Basis	0
Gross Amount at Which Carried	13,140
Accumulated Depreciation	25
Burger King: | Yukon, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	500
Buildings Improvements	1,141
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,641
Accumulated Depreciation	1
Burlington Coat Factory: | Bangor, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	1,820
Buildings Improvements	2,549
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,369
Accumulated Depreciation	5
Cabela's: | Acworth, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,979
Buildings Improvements	18,775
Total Adjustment to Basis	0
Gross Amount at Which Carried	23,754
Accumulated Depreciation	1,694
Cabela's: | Avon, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	2,755
Buildings Improvements	10,751
Total Adjustment to Basis	0
Gross Amount at Which Carried	13,506
Accumulated Depreciation	986
Cabela's: | La Vista, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	3,260
Buildings Improvements	16,923
Total Adjustment to Basis	0
Gross Amount at Which Carried	20,183
Accumulated Depreciation	1,468
Cabela's: | Sun Prairie, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	3,373
Buildings Improvements	14,058
Total Adjustment to Basis	0
Gross Amount at Which Carried	17,431
Accumulated Depreciation	1,338
Caliber Collision Center: | Fredericksburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,807
Buildings Improvements	2,292
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,099
Accumulated Depreciation	32
Caliber Collision Center: | Frisco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,484
Buildings Improvements	2,038
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,522
Accumulated Depreciation	369
Caliber Collision Center: | Lake Jackson,TX
Real Estate and Accumulated Depreciation [Line Items]
Land	800
Buildings Improvements	2,974
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,774
Accumulated Depreciation	4
Caliber Collision Center: | Las Cruces, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	673
Buildings Improvements	1,949
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,622
Accumulated Depreciation	334
Caliber Collision Center: | Richmond, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,453
Buildings Improvements	3,323
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,776
Accumulated Depreciation	48
Caliber Collision Center: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	691
Buildings Improvements	4,458
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,149
Accumulated Depreciation	6
Caliber Collision Center: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	622
Buildings Improvements	832
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,454
Accumulated Depreciation	139
Caliber Collision Center: | Williamsburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,418
Buildings Improvements	2,800
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,218
Accumulated Depreciation	45
Caliber Collision Center: | Wylie, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	816
Buildings Improvements	2,690
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,506
Accumulated Depreciation	454
Camping World: | Fort Myers, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	3,226
Buildings Improvements	11,832
Total Adjustment to Basis	0
Gross Amount at Which Carried	15,058
Accumulated Depreciation	16
Camping World: | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,152
Buildings Improvements	3,831
Total Adjustment to Basis	(1,307)
Gross Amount at Which Carried	4,676
Accumulated Depreciation	109
Canton Marketplace: | Canton, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	31,801
Land	8,310
Buildings Improvements	48,667
Total Adjustment to Basis	930
Gross Amount at Which Carried	57,907
Accumulated Depreciation	12,023
Carlisle Crossing: | Carlisle, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,491
Buildings Improvements	15,817
Total Adjustment to Basis	41
Gross Amount at Which Carried	20,349
Accumulated Depreciation	2,943
Cash & Carry: | Salt Lake City, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	863
Buildings Improvements	4,149
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,012
Accumulated Depreciation	5
Chase: | Hanover Township, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	2,192
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,192
Accumulated Depreciation	0
Costco: | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,146
Land	9,497
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,497
Accumulated Depreciation	0
Cottonwood Commons: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	19,250
Land	4,986
Buildings Improvements	28,881
Total Adjustment to Basis	274
Gross Amount at Which Carried	34,141
Accumulated Depreciation	5,688
Coventry Crossing: | Coventry , RI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,000
Land	3,462
Buildings Improvements	5,899
Total Adjustment to Basis	(2,292)
Gross Amount at Which Carried	7,069
Accumulated Depreciation	137
Crosspoint: | Hagerstown, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	12,285
Buildings Improvements	14,359
Total Adjustment to Basis	(971)
Gross Amount at Which Carried	25,673
Accumulated Depreciation	2,937
Crossroads Annex: | Lafayette, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,659
Buildings Improvements	7,091
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,750
Accumulated Depreciation	1,431
Crossroads Commons: | Plover, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,000
Buildings Improvements	4,515
Total Adjustment to Basis	75
Gross Amount at Which Carried	5,590
Accumulated Depreciation	1,068
CVS: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,893
Buildings Improvements	1,848
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,741
Accumulated Depreciation	339
CVS: | Arnold, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	2,043
Buildings Improvements	2,367
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,410
Accumulated Depreciation	429
CVS: | Asheville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,108
Buildings Improvements	1,084
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,192
Accumulated Depreciation	248
CVS: | Austin, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,076
Buildings Improvements	3,475
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,551
Accumulated Depreciation	626
CVS: | Bloomington, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,620
Buildings Improvements	2,957
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,577
Accumulated Depreciation	536
CVS: | Blue Springs, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	395
Buildings Improvements	2,722
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,117
Accumulated Depreciation	493
CVS: | Bridgeton, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	2,056
Buildings Improvements	2,362
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,418
Accumulated Depreciation	428
CVS: | Charleston, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	869
Buildings Improvements	1,009
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,878
Accumulated Depreciation	232
CVS: | Chesapeake, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,044
Buildings Improvements	3,053
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,097
Accumulated Depreciation	564
CVS: | Chicago, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,832
Buildings Improvements	4,255
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,087
Accumulated Depreciation	829
CVS: | Cicero, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	487
Buildings Improvements	3,099
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,586
Accumulated Depreciation	561
CVS: | Corpus Christi, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	648
Buildings Improvements	2,557
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,205
Accumulated Depreciation	566
CVS: | Danville, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	424
Buildings Improvements	2,105
Total Adjustment to Basis	76
Gross Amount at Which Carried	2,605
Accumulated Depreciation	371
CVS: | Eminence, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	872
Buildings Improvements	2,511
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,383
Accumulated Depreciation	449
CVS: | Goose Creek, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,022
Buildings Improvements	1,980
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,002
Accumulated Depreciation	355
CVS: | Greenwood, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	912
Buildings Improvements	3,549
Total Adjustment to Basis	61
Gross Amount at Which Carried	4,522
Accumulated Depreciation	671
CVS: | Hanover Township, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	4,746
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,746
Accumulated Depreciation	0
CVS: | Hazlet, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	3,047
Buildings Improvements	3,610
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,657
Accumulated Depreciation	650
CVS: | Honesdale, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,206
Buildings Improvements	3,342
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,548
Accumulated Depreciation	620
CVS: | Independence, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	359
Buildings Improvements	2,242
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,601
Accumulated Depreciation	407
CVS: | Indianapolis, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,110
Buildings Improvements	2,484
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,594
Accumulated Depreciation	450
CVS: | Irving, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	745
Buildings Improvements	3,034
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,779
Accumulated Depreciation	640
CVS: | Janesville, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	736
Buildings Improvements	2,545
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,281
Accumulated Depreciation	460
CVS: | Katy, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,149
Buildings Improvements	2,462
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,611
Accumulated Depreciation	436
CVS: | Lincoln, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	2,534
Buildings Improvements	3,014
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,548
Accumulated Depreciation	544
CVS: | London, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,445
Buildings Improvements	2,661
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,106
Accumulated Depreciation	499
CVS: | Middletown, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	665
Buildings Improvements	5,483
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,148
Accumulated Depreciation	979
CVS: | North Wilkesboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	332
Buildings Improvements	2,369
Total Adjustment to Basis	73
Gross Amount at Which Carried	2,774
Accumulated Depreciation	435
CVS: | Poplar Bluff, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,861
Buildings Improvements	2,211
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,072
Accumulated Depreciation	402
CVS: | Riverton, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	1,217
Buildings Improvements	5,553
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,770
Accumulated Depreciation	6
CVS: | Salem, NH
Real Estate and Accumulated Depreciation [Line Items]
Land	3,456
Buildings Improvements	2,351
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,807
Accumulated Depreciation	421
CVS: | Sand Springs, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	1,765
Buildings Improvements	2,283
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,048
Accumulated Depreciation	416
CVS: | Santa Fe, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	2,243
Buildings Improvements	4,619
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,862
Accumulated Depreciation	823
CVS: | Sedalia, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	466
Buildings Improvements	2,318
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,784
Accumulated Depreciation	421
CVS: | St. John, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,546
Buildings Improvements	2,601
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,147
Accumulated Depreciation	471
CVS: | Temple Hills, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	1,817
Buildings Improvements	2,989
Total Adjustment to Basis	71
Gross Amount at Which Carried	4,877
Accumulated Depreciation	552
CVS: | Vineland, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	813
Buildings Improvements	2,926
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,739
Accumulated Depreciation	546
CVS: | Waynesboro, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	986
Buildings Improvements	2,708
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,694
Accumulated Depreciation	490
CVS: | West Monroe, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,738
Buildings Improvements	2,136
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,874
Accumulated Depreciation	389
Darien Towne Center: | Darien, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	6,718
Buildings Improvements	11,951
Total Adjustment to Basis	915
Gross Amount at Which Carried	19,584
Accumulated Depreciation	3,143
Decatur Commons: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,000
Land	2,478
Buildings Improvements	9,333
Total Adjustment to Basis	860
Gross Amount at Which Carried	12,671
Accumulated Depreciation	2,066
Derby Marketplace: | Derby, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	3,169
Buildings Improvements	6,494
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,663
Accumulated Depreciation	12
Dick's Petsmart Center: | Oshkosh, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,445
Buildings Improvements	6,599
Total Adjustment to Basis	(1,722)
Gross Amount at Which Carried	6,322
Accumulated Depreciation	138
Dick's Sporting Goods: | Oklahoma City, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	685
Buildings Improvements	10,587
Total Adjustment to Basis	0
Gross Amount at Which Carried	11,272
Accumulated Depreciation	2,371
Dollar General: | Akron, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	112
Buildings Improvements	1,099
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,211
Accumulated Depreciation	221
Dollar General: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	279
Buildings Improvements	1,248
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,527
Accumulated Depreciation	251
Dollar General: | Athens, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	270
Buildings Improvements	1,364
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,634
Accumulated Depreciation	2
Dollar General: | Autaugaville, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	103
Buildings Improvements	951
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,054
Accumulated Depreciation	2
Dollar General: | Bluefield, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	290
Buildings Improvements	1,135
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,425
Accumulated Depreciation	2
Dollar General: | Buffalo, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	122
Buildings Improvements	1,099
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,221
Accumulated Depreciation	177
Dollar General: | Charleston, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	340
Buildings Improvements	1,184
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,524
Accumulated Depreciation	2
Dollar General: | Charleston, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	370
Buildings Improvements	1,135
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,505
Accumulated Depreciation	2
Dollar General: | Charleston, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	341
Buildings Improvements	1,039
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,380
Accumulated Depreciation	2
Dollar General: | Collinsville, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	194
Buildings Improvements	1,003
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,197
Accumulated Depreciation	2
Dollar General: | Des Moines, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	166
Buildings Improvements	943
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,109
Accumulated Depreciation	188
Dollar General: | Elmwood, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	173
Buildings Improvements	941
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,114
Accumulated Depreciation	2
Dollar General: | Glouster, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	220
Buildings Improvements	1,276
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,496
Accumulated Depreciation	2
Dollar General: | Houston (Gears), TX
Real Estate and Accumulated Depreciation [Line Items]
Land	255
Buildings Improvements	1,393
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,648
Accumulated Depreciation	259
Dollar General: | Huntington, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	260
Buildings Improvements	1,182
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,442
Accumulated Depreciation	2
Dollar General: | Huntington, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	240
Buildings Improvements	1,276
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,516
Accumulated Depreciation	2
Dollar General: | Junction City, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	171
Buildings Improvements	847
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,018
Accumulated Depreciation	1
Dollar General: | Kansas City, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	283
Buildings Improvements	1,068
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,351
Accumulated Depreciation	207
Dollar General: | Kansas City, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	233
Buildings Improvements	1,054
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,287
Accumulated Depreciation	202
Dollar General: | Lansing, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	232
Buildings Improvements	939
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,171
Accumulated Depreciation	157
Dollar General: | Lineville, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	257
Buildings Improvements	1,217
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,474
Accumulated Depreciation	2
Dollar General: | Logansport, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	181
Buildings Improvements	977
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,158
Accumulated Depreciation	2
Dollar General: | Mission, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	182
Buildings Improvements	858
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,040
Accumulated Depreciation	146
Dollar General: | Mobile, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	410
Buildings Improvements	1,059
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,469
Accumulated Depreciation	219
Dollar General: | Moundridge, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	415
Buildings Improvements	526
Total Adjustment to Basis	0
Gross Amount at Which Carried	941
Accumulated Depreciation	1
Dollar General: | Parchment, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	168
Buildings Improvements	1,162
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,330
Accumulated Depreciation	193
Dollar General: | Pipestone, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	204
Buildings Improvements	1,034
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,238
Accumulated Depreciation	2
Dollar General: | Pueblo, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	144
Buildings Improvements	909
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,053
Accumulated Depreciation	187
Dollar General: | Ridgeley, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	211
Buildings Improvements	1,157
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,368
Accumulated Depreciation	2
Dollar General: | Romulus, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	274
Buildings Improvements	1,171
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,445
Accumulated Depreciation	205
Dollar General: | Russell, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	54
Buildings Improvements	899
Total Adjustment to Basis	0
Gross Amount at Which Carried	953
Accumulated Depreciation	156
Dollar General: | Selma, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	164
Buildings Improvements	858
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,022
Accumulated Depreciation	1
Dollar General: | Semmes, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	196
Buildings Improvements	952
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,148
Accumulated Depreciation	2
Dollar General: | Sissonville, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	261
Buildings Improvements	1,088
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,349
Accumulated Depreciation	2
Dollar General: | Spring, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	277
Buildings Improvements	1,132
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,409
Accumulated Depreciation	213
Dollar General: | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	205
Buildings Improvements	934
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,139
Accumulated Depreciation	153
Dollar General: | St. Louis, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	229
Buildings Improvements	1,102
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,331
Accumulated Depreciation	207
Dollar General: | St. Louis, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	240
Buildings Improvements	1,118
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,358
Accumulated Depreciation	$ 208

SCHEDULE III - Real Estate As_3

SCHEDULE III - Real Estate Assets and Accumulated Depreciation - 2 (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 578,096
Land	901,859
Buildings Improvements	2,533,704
Total Adjustment to Basis	(63,637)
Gross Amount at Which Carried	3,371,926	$ 2,530,311	$ 4,444,041	$ 4,564,592
Accumulated Depreciation	298,364	$ 243,122	$ 385,245	$ 334,476
Dollar General: | Talladega, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	161
Buildings Improvements	859
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,020
Accumulated Depreciation	2
Dollar General: | Wakarusa, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	243
Buildings Improvements	1,073
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,316
Accumulated Depreciation	2
Dollar General: | Weslaco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	141
Buildings Improvements	848
Total Adjustment to Basis	0
Gross Amount at Which Carried	989
Accumulated Depreciation	144
Dollar General: | Wolcottville, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	183
Buildings Improvements	1,012
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,195
Accumulated Depreciation	2
Dollar General: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	279
Buildings Improvements	1,248
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,527
Accumulated Depreciation	251
Duluth Trading: | Denton, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,662
Buildings Improvements	2,918
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,580
Accumulated Depreciation	4
Duluth Trading: | Madison, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,174
Buildings Improvements	3,603
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,777
Accumulated Depreciation	5
Duluth Trading: | Noblesville, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,212
Buildings Improvements	3,436
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,648
Accumulated Depreciation	5
East West Commons: | Austell, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	13,000
Land	10,094
Buildings Improvements	16,034
Total Adjustment to Basis	3,943
Gross Amount at Which Carried	30,071
Accumulated Depreciation	3,370
Evergreen Marketplace: | Evergreen Park, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,823
Buildings Improvements	6,239
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,062
Accumulated Depreciation	1,487
Fairlane Green II: | Allen Park, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,409
Buildings Improvements	14,634
Total Adjustment to Basis	0
Gross Amount at Which Carried	16,043
Accumulated Depreciation	18
Family Dollar: | Talladega, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	222
Buildings Improvements	951
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,173
Accumulated Depreciation	2
Family Dollar: | Adelanto, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	463
Buildings Improvements	1,711
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,174
Accumulated Depreciation	274
Family Dollar: | Bearden, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	52
Buildings Improvements	760
Total Adjustment to Basis	0
Gross Amount at Which Carried	812
Accumulated Depreciation	1
Family Dollar: | Bessemer, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	201
Buildings Improvements	1,043
Gross Amount at Which Carried	1,244
Accumulated Depreciation	196
Family Dollar: | Birmingham, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	500
Buildings Improvements	831
Gross Amount at Which Carried	1,331
Accumulated Depreciation	159
Family Dollar: | Brooksville, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	206
Buildings Improvements	791
Gross Amount at Which Carried	997
Accumulated Depreciation	150
Family Dollar: | Cabot, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	231
Buildings Improvements	1,137
Gross Amount at Which Carried	1,368
Accumulated Depreciation	2
Family Dollar: | Cathedral City, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	658
Buildings Improvements	1,908
Gross Amount at Which Carried	2,566
Accumulated Depreciation	315
Family Dollar: | Cheyenne, WY
Real Estate and Accumulated Depreciation [Line Items]
Land	148
Buildings Improvements	986
Gross Amount at Which Carried	1,134
Accumulated Depreciation	176
Family Dollar: | Coachella, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	450
Buildings Improvements	1,634
Gross Amount at Which Carried	2,084
Accumulated Depreciation	293
Family Dollar: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	252
Buildings Improvements	1,251
Gross Amount at Which Carried	1,503
Accumulated Depreciation	2
Family Dollar: | Empire, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	239
Buildings Improvements	1,527
Gross Amount at Which Carried	1,766
Accumulated Depreciation	261
Family Dollar: | Ft. Lauderdale, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	443
Buildings Improvements	1,361
Gross Amount at Which Carried	1,804
Accumulated Depreciation	245
Family Dollar: | Fresno, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	488
Buildings Improvements	1,553
Gross Amount at Which Carried	2,041
Accumulated Depreciation	282
Family Dollar: | Hobbs, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	243
Buildings Improvements	1,084
Gross Amount at Which Carried	1,327
Accumulated Depreciation	2
Family Dollar: | Holtville, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	317
Buildings Improvements	1,609
Gross Amount at Which Carried	1,926
Accumulated Depreciation	289
Family Dollar: | Indio, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	393
Buildings Improvements	1,636
Gross Amount at Which Carried	2,029
Accumulated Depreciation	279
Family Dollar: | Irvington, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings Improvements	814
Gross Amount at Which Carried	1,031
Accumulated Depreciation	157
Family Dollar: | Jay, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	190
Buildings Improvements	1,002
Gross Amount at Which Carried	1,192
Accumulated Depreciation	195
Family Dollar: | Jonesboro, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	297
Buildings Improvements	1,098
Gross Amount at Which Carried	1,395
Accumulated Depreciation	202
Family Dollar: | Kissimmee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	622
Buildings Improvements	1,226
Gross Amount at Which Carried	1,848
Accumulated Depreciation	211
Family Dollar: | LaBelle, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	268
Buildings Improvements	1,037
Gross Amount at Which Carried	1,305
Accumulated Depreciation	199
Family Dollar: | Lake Elsinor, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	417
Buildings Improvements	1,682
Gross Amount at Which Carried	2,099
Accumulated Depreciation	298
Family Dollar: | Lakeland, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	353
Buildings Improvements	937
Gross Amount at Which Carried	1,290
Accumulated Depreciation	167
Family Dollar: | Lewiston, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	271
Buildings Improvements	1,157
Gross Amount at Which Carried	1,428
Accumulated Depreciation	2
Family Dollar: | Little Rock, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	499
Buildings Improvements	1,730
Gross Amount at Which Carried	2,229
Accumulated Depreciation	267
Family Dollar: | Melbourne, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	362
Buildings Improvements	883
Gross Amount at Which Carried	1,245
Accumulated Depreciation	162
Family Dollar: | Morgan, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	235
Buildings Improvements	1,068
Gross Amount at Which Carried	1,303
Accumulated Depreciation	2
Family Dollar: | New Roads, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	190
Buildings Improvements	674
Gross Amount at Which Carried	864
Accumulated Depreciation	1
Family Dollar: | Oshkosh, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	361
Buildings Improvements	815
Gross Amount at Which Carried	1,176
Accumulated Depreciation	151
Family Dollar: | Palmdale, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	372
Buildings Improvements	1,822
Gross Amount at Which Carried	2,194
Accumulated Depreciation	275
Family Dollar: | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	509
Buildings Improvements	791
Gross Amount at Which Carried	1,300
Accumulated Depreciation	147
Family Dollar: | Pine Lake, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	639
Buildings Improvements	897
Gross Amount at Which Carried	1,536
Accumulated Depreciation	157
Family Dollar: | Riverside, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	736
Buildings Improvements	1,558
Gross Amount at Which Carried	2,294
Accumulated Depreciation	273
Family Dollar: | Roswell, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	199
Buildings Improvements	921
Gross Amount at Which Carried	1,120
Accumulated Depreciation	2
Family Dollar: | Salina, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	211
Buildings Improvements	1,262
Gross Amount at Which Carried	1,473
Accumulated Depreciation	2
Family Dollar: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	409
Buildings Improvements	914
Gross Amount at Which Carried	1,323
Accumulated Depreciation	1
Family Dollar: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	347
Buildings Improvements	1,148
Gross Amount at Which Carried	1,495
Accumulated Depreciation	2
Family Dollar: | San Jacinto, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	430
Buildings Improvements	1,682
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,112
Accumulated Depreciation	283
Family Dollar: | Statesboro, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	347
Buildings Improvements	800
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,147
Accumulated Depreciation	150
Family Dollar: | Stockton, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	202
Buildings Improvements	1,817
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,019
Accumulated Depreciation	297
Family Dollar: | Taft, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	255
Buildings Improvements	1,422
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,677
Accumulated Depreciation	275
Family Dollar: | Tampa (Cragmont), FL
Real Estate and Accumulated Depreciation [Line Items]
Land	563
Buildings Improvements	737
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,300
Accumulated Depreciation	141
Family Dollar: | Tampa (Forest), FL
Real Estate and Accumulated Depreciation [Line Items]
Land	482
Buildings Improvements	920
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,402
Accumulated Depreciation	173
Family Dollar: | Tenn Colony, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	150
Buildings Improvements	834
Total Adjustment to Basis	0
Gross Amount at Which Carried	984
Accumulated Depreciation	1
Family Dollar: | Terra Bella, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	332
Buildings Improvements	1,394
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,726
Accumulated Depreciation	251
Family Dollar: | Tuscaloosa, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	534
Buildings Improvements	817
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,351
Accumulated Depreciation	157
Family Dollar: | Valley, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	180
Buildings Improvements	983
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,163
Accumulated Depreciation	2
Family Dollar: | Walthourville, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	290
Buildings Improvements	1,058
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,348
Accumulated Depreciation	2
Family Dollar: | Warrenville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	207
Buildings Improvements	986
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,193
Accumulated Depreciation	2
Flower Foods: | Orlando, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	418
Buildings Improvements	387
Total Adjustment to Basis	0
Gross Amount at Which Carried	805
Accumulated Depreciation	65
Flower Foods: | Waldorf, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	398
Buildings Improvements	1,045
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,443
Accumulated Depreciation	194
Food 4 Less: | Atwater, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,383
Buildings Improvements	5,271
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,654
Accumulated Depreciation	1,068
Fountain Square: | Brookfield, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	6,508
Buildings Improvements	28,634
Total Adjustment to Basis	25
Gross Amount at Which Carried	35,167
Accumulated Depreciation	3,689
Fourth Creek Landing: | Statesville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,375
Buildings Improvements	7,795
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,170
Accumulated Depreciation	2,076
Fresenius Medical Care: | West Plains, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	557
Buildings Improvements	3,097
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,654
Accumulated Depreciation	520
Fresh Market Center: | Glen Ellyn, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,750
Land	2,767
Buildings Improvements	6,403
Total Adjustment to Basis	(3,494)
Gross Amount at Which Carried	5,676
Accumulated Depreciation	153
Fresh Thyme: | Indianapolis, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,087
Buildings Improvements	6,019
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,106
Accumulated Depreciation	1,089
Fresh Thyme: | Lafayette, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,173
Buildings Improvements	6,316
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,489
Accumulated Depreciation	7
Fresh Thyme: | Northville, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,598
Buildings Improvements	7,796
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,394
Accumulated Depreciation	1,094
Fresh Thyme: | Ypsilanti, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	3,168
Buildings Improvements	5,719
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,887
Accumulated Depreciation	7
Fresh Thyme & DSW: | Fort Wayne, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,740
Buildings Improvements	4,153
Total Adjustment to Basis	612
Gross Amount at Which Carried	6,505
Accumulated Depreciation	836
Giant Eagle: | Seven Fields, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,574
Buildings Improvements	13,659
Total Adjustment to Basis	0
Gross Amount at Which Carried	15,233
Accumulated Depreciation	2,345
Harbor Town Center: | Manitowoc, WI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,750
Land	3,568
Buildings Improvements	13,209
Total Adjustment to Basis	(1,799)
Gross Amount at Which Carried	14,978
Accumulated Depreciation	895
Haverty Furniture: | Midland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	709
Buildings Improvements	1,294
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,003
Accumulated Depreciation	384
HEB Center: | Waxahachie, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,000
Land	3,465
Buildings Improvements	7,952
Total Adjustment to Basis	273
Gross Amount at Which Carried	11,690
Accumulated Depreciation	1,817
Hobby Lobby: | Lewisville, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	2,184
Buildings Improvements	8,977
Total Adjustment to Basis	0
Gross Amount at Which Carried	11,161
Accumulated Depreciation	$ 1,758

SCHEDULE III - Real Estate As_4

SCHEDULE III - Real Estate Assets and Accumulated Depreciation - 3 (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 578,096
Land	901,859
Buildings Improvements	2,533,704
Total Adjustment to Basis	(63,637)
Gross Amount at Which Carried	3,371,926	$ 2,530,311	$ 4,444,041	$ 4,564,592
Accumulated Depreciation	298,364	$ 243,122	$ 385,245	$ 334,476
Home Depot: | Lincoln, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	6,339
Buildings Improvements	5,937
Total Adjustment to Basis	0
Gross Amount at Which Carried	12,276
Accumulated Depreciation	832
Home Depot: | North Canton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	2,203
Buildings Improvements	12,012
Total Adjustment to Basis	360
Gross Amount at Which Carried	14,575
Accumulated Depreciation	2,621
Houma Crossing: | Houma, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,264
Land	1,076
Buildings Improvements	20,028
Total Adjustment to Basis	0
Gross Amount at Which Carried	21,104
Accumulated Depreciation	28
Hy-Vee: | Omaha, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	1,842
Buildings Improvements	7,909
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,751
Accumulated Depreciation	11
Jewel-Osco: | Plainfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	0
Buildings Improvements	0
Total Adjustment to Basis	11,151
Gross Amount at Which Carried	11,151
Accumulated Depreciation	578
Kirkland's: | Dothan, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	486
Buildings Improvements	946
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,432
Accumulated Depreciation	211
Kohl's: | Chartlottesville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,929
Buildings Improvements	12,280
Total Adjustment to Basis	0
Gross Amount at Which Carried	16,209
Accumulated Depreciation	2,057
Kohl's: | Eagan, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	3,581
Buildings Improvements	3,751
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,332
Accumulated Depreciation	6
Kohl's: | Easton, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	2,962
Buildings Improvements	2,661
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,623
Accumulated Depreciation	335
Kroger: | Bay City, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	718
Buildings Improvements	5,058
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,776
Accumulated Depreciation	8
Kroger: | Shelton, WA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,180
Buildings Improvements	11,040
Total Adjustment to Basis	0
Gross Amount at Which Carried	12,220
Accumulated Depreciation	2,150
Kroger: | Whitehall, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	581
Buildings Improvements	6,628
Total Adjustment to Basis	224
Gross Amount at Which Carried	7,433
Accumulated Depreciation	1,363
Kum & Go: | Conway, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	510
Buildings Improvements	2,577
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,087
Accumulated Depreciation	428
LA Fitness: | Bloomfield Township, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,287
Buildings Improvements	10,075
Total Adjustment to Basis	0
Gross Amount at Which Carried	12,362
Accumulated Depreciation	2,141
LA Fitness: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	1,013
Buildings Improvements	6,734
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,747
Accumulated Depreciation	1,059
LA Fitness: | Garland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	2,005
Buildings Improvements	6,861
Total Adjustment to Basis	41
Gross Amount at Which Carried	8,907
Accumulated Depreciation	1,267
LA Fitness: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	5,764
Buildings Improvements	5,994
Total Adjustment to Basis	0
Gross Amount at Which Carried	11,758
Accumulated Depreciation	1,161
LA Fitness: | New Lenox, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,965
Buildings Improvements	6,257
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,222
Accumulated Depreciation	823
LA Fitness: | Riverside, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,557
Buildings Improvements	9,951
Total Adjustment to Basis	0
Gross Amount at Which Carried	12,508
Accumulated Depreciation	1,976
Lafayette Pavilions: | Lafayette, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	7,632
Buildings Improvements	42,497
Total Adjustment to Basis	(3,245)
Gross Amount at Which Carried	46,884
Accumulated Depreciation	1,067
Lawton Marketplace: | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	19,247
Land	3,598
Buildings Improvements	25,228
Total Adjustment to Basis	3
Gross Amount at Which Carried	28,829
Accumulated Depreciation	43
Lord Salisbury Center: | Salisbury, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	6,949
Buildings Improvements	12,179
Total Adjustment to Basis	(2,319)
Gross Amount at Which Carried	16,809
Accumulated Depreciation	370
Lowe's: | Adrian, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,604
Buildings Improvements	5,036
Total Adjustment to Basis	30
Gross Amount at Which Carried	7,670
Accumulated Depreciation	1,274
Lowe's: | Alpharetta, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	7,979
Buildings Improvements	9,630
Total Adjustment to Basis	403
Gross Amount at Which Carried	18,012
Accumulated Depreciation	1,588
Lowe's: | Asheboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,098
Buildings Improvements	6,722
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,820
Accumulated Depreciation	1,187
Lowe's: | Cincinnati, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	14,092
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	14,092
Accumulated Depreciation	0
Lowe's: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	3,943
Buildings Improvements	6,353
Total Adjustment to Basis	750
Gross Amount at Which Carried	11,046
Accumulated Depreciation	1,467
Lowe's: | Covington, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	10,233
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	10,233
Accumulated Depreciation	0
Lowe's: | Hermitage, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,279
Buildings Improvements	12,580
Total Adjustment to Basis	0
Gross Amount at Which Carried	14,859
Accumulated Depreciation	16
Lowe's: | Lilburn, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	8,817
Buildings Improvements	9,380
Total Adjustment to Basis	385
Gross Amount at Which Carried	18,582
Accumulated Depreciation	1,539
Lowe's: | Mansfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	873
Buildings Improvements	8,256
Total Adjustment to Basis	26
Gross Amount at Which Carried	9,155
Accumulated Depreciation	1,492
Lowe's: | Marieta, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	7,471
Buildings Improvements	8,404
Total Adjustment to Basis	392
Gross Amount at Which Carried	16,267
Accumulated Depreciation	1,400
Lowe's: | Oxford, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,668
Buildings Improvements	7,622
Total Adjustment to Basis	369
Gross Amount at Which Carried	9,659
Accumulated Depreciation	1,804
Lowe's: | Tuscaloosa, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	4,908
Buildings Improvements	4,786
Total Adjustment to Basis	9
Gross Amount at Which Carried	9,703
Accumulated Depreciation	986
Lowe's: | Woodstock, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	7,316
Buildings Improvements	8,879
Total Adjustment to Basis	392
Gross Amount at Which Carried	16,587
Accumulated Depreciation	1,476
Lowe's: | Zanesville, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	2,161
Buildings Improvements	8,375
Total Adjustment to Basis	297
Gross Amount at Which Carried	10,833
Accumulated Depreciation	1,626
Mattress Firm: | Ashtabula, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	301
Buildings Improvements	1,965
Total Adjustment to Basis	(453)
Gross Amount at Which Carried	1,813
Accumulated Depreciation	36
Mattress Firm: | Draper, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	860
Buildings Improvements	1,419
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,279
Accumulated Depreciation	2
Mattress Firm: | Lake City, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	517
Buildings Improvements	1,241
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,758
Accumulated Depreciation	2
Mattress Firm & Aspen Dental: | Vienna, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	774
Buildings Improvements	2,466
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,240
Accumulated Depreciation	521
Mattress Firm & Five Guys: | Muskegon, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	813
Buildings Improvements	1,766
Total Adjustment to Basis	(314)
Gross Amount at Which Carried	2,265
Accumulated Depreciation	33
McAlister's Deli: | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	805
Buildings Improvements	1,057
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,862
Accumulated Depreciation	194
McGowin Park: | Mobile, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	42,765
Land	2,243
Buildings Improvements	69,357
Total Adjustment to Basis	0
Gross Amount at Which Carried	71,600
Accumulated Depreciation	8,187
Melody Mountain: | Ashland, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,940
Land	1,286
Buildings Improvements	9,879
Total Adjustment to Basis	(1,874)
Gross Amount at Which Carried	9,291
Accumulated Depreciation	231
Merchants Tire & Auto: | Wake Forest, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	782
Buildings Improvements	1,730
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,512
Accumulated Depreciation	241
Merchants Tire & Auto: | Athens, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	383
Buildings Improvements	1,150
Gross Amount at Which Carried	1,533
Accumulated Depreciation	109
Merchants Tire & Auto: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	257
Buildings Improvements	559
Gross Amount at Which Carried	816
Accumulated Depreciation	57
Merchants Tire & Auto: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	486
Buildings Improvements	1,253
Gross Amount at Which Carried	1,739
Accumulated Depreciation	136
Merchants Tire & Auto: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	359
Buildings Improvements	1,152
Gross Amount at Which Carried	1,511
Accumulated Depreciation	124
Merchants Tire & Auto: | Hartselle, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	360
Buildings Improvements	569
Gross Amount at Which Carried	929
Accumulated Depreciation	60
Merchants Tire & Auto: | Madison, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	562
Buildings Improvements	1,139
Gross Amount at Which Carried	1,701
Accumulated Depreciation	126
Mister Car Wash: | Athens, AL
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Mister Car Wash: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Mister Car Wash: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Mister Car Wash: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Mister Car Wash: | Hartselle, AL
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Mister Car Wash: | Madison, AL
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Morganton Heights: | Morganton, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,800
Land	7,032
Buildings Improvements	29,763
Total Adjustment to Basis	30
Gross Amount at Which Carried	36,825
Accumulated Depreciation	6,167
National Tire & Battery: | Cedar Hill, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	469
Buildings Improvements	1,951
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,420
Accumulated Depreciation	402
National Tire & Battery: | Cypress, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	910
Buildings Improvements	2,224
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,134
Accumulated Depreciation	332
National Tire & Battery: | Flower Mound, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	779
Buildings Improvements	2,449
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,228
Accumulated Depreciation	351
National Tire & Battery: | Fort Worth, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	936
Buildings Improvements	1,234
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,170
Accumulated Depreciation	242
National Tire & Battery: | Fort Worth, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	730
Buildings Improvements	2,309
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,039
Accumulated Depreciation	331
National Tire & Battery: | Frisco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	844
Buildings Improvements	1,608
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,452
Accumulated Depreciation	313
National Tire & Battery: | Montgomery, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	516
Buildings Improvements	2,494
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,010
Accumulated Depreciation	517
National Tire & Battery: | North Richland Hills, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	513
Buildings Improvements	2,579
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,092
Accumulated Depreciation	380
National Tire & Battery: | Pasadena, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	908
Buildings Improvements	2,307
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,215
Accumulated Depreciation	344
National Tire & Battery: | Pearland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,016
Buildings Improvements	2,040
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,056
Accumulated Depreciation	298
National Tire & Battery: | Plano, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,292
Buildings Improvements	2,197
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,489
Accumulated Depreciation	320
National Tire & Battery: | Tomball, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	838
Buildings Improvements	2,229
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,067
Accumulated Depreciation	$ 322

SCHEDULE III - Real Estate As_5

SCHEDULE III - Real Estate Assets and Accumulated Depreciation - 4 (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 578,096
Land	901,859
Buildings Improvements	2,533,704
Total Adjustment to Basis	(63,637)
Gross Amount at Which Carried	3,371,926	$ 2,530,311	$ 4,444,041	$ 4,564,592
Accumulated Depreciation	298,364	$ 243,122	$ 385,245	$ 334,476
Natural Grocers: | Idaho Falls, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	833
Buildings Improvements	2,316
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,149
Accumulated Depreciation	422
Natural Grocers: | Waupaca, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,286
Buildings Improvements	3,727
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,013
Accumulated Depreciation	5
Nordstrom Rack: | Tampa, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,880
Land	3,371
Buildings Improvements	6,402
Total Adjustment to Basis	1,583
Gross Amount at Which Carried	11,356
Accumulated Depreciation	1,748
O'Reilly Automotive: | Bennettsville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	361
Buildings Improvements	1,207
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,568
Accumulated Depreciation	2
O'Reilly Automotive: | Calyton, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	501
Buildings Improvements	945
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,446
Accumulated Depreciation	121
O'Reilly Automotive: | Flowood, MS
Real Estate and Accumulated Depreciation [Line Items]
Land	506
Buildings Improvements	1,288
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,794
Accumulated Depreciation	2
O'Reilly Automotive: | Iron Mountain, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	249
Buildings Improvements	1,400
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,649
Accumulated Depreciation	2
Owenboro Towne Center: | Owensboro, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,160
Land	3,807
Buildings Improvements	16,259
Total Adjustment to Basis	862
Gross Amount at Which Carried	20,928
Accumulated Depreciation	2,474
Parkway Centre South: | Grove City, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,250
Land	7,027
Buildings Improvements	18,223
Total Adjustment to Basis	(2,269)
Gross Amount at Which Carried	22,981
Accumulated Depreciation	1,054
Pecanland Plaza: | Monroe, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,206
Buildings Improvements	18,957
Total Adjustment to Basis	(3,265)
Gross Amount at Which Carried	17,898
Accumulated Depreciation	334
Petsmart: | Wilkesboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	447
Buildings Improvements	1,710
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,157
Accumulated Depreciation	402
Petsmart/Old Navy: | Reynoldsburg, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,720
Land	1,295
Buildings Improvements	4,077
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,372
Accumulated Depreciation	981
Pick 'N Save: | Heber City, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	1,160
Buildings Improvements	9,111
Total Adjustment to Basis	0
Gross Amount at Which Carried	10,271
Accumulated Depreciation	12
Pick 'N Save: | Pewaukee, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,323
Buildings Improvements	6,761
Total Adjustment to Basis	257
Gross Amount at Which Carried	8,341
Accumulated Depreciation	1,311
Pick 'N Save: | Sheboygan, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,003
Buildings Improvements	10,695
Total Adjustment to Basis	0
Gross Amount at Which Carried	12,698
Accumulated Depreciation	2,341
Pick 'N Save: | South Milwaukee, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,126
Buildings Improvements	5,706
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,832
Accumulated Depreciation	1,056
Pick 'N Save: | Waterford, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	731
Buildings Improvements	4,078
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,809
Accumulated Depreciation	5
Plainfield Marketplace: | Plainfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	3,167
Buildings Improvements	14,788
Total Adjustment to Basis	(3,827)
Gross Amount at Which Carried	14,128
Accumulated Depreciation	0
Plaza San Mateo: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	2,867
Buildings Improvements	11,582
Total Adjustment to Basis	(4,011)
Gross Amount at Which Carried	10,438
Accumulated Depreciation	311
Popeyes: | Independence, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	333
Buildings Improvements	680
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,013
Accumulated Depreciation	115
Poplar Springs Plaza: | Duncan, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,000
Land	1,862
Buildings Improvements	5,277
Total Adjustment to Basis	517
Gross Amount at Which Carried	7,656
Accumulated Depreciation	1,270
Raising Cane's: | Murphy, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	495
Buildings Improvements	2,854
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,349
Accumulated Depreciation	3
Raising Cane's: | Reno, NV
Real Estate and Accumulated Depreciation [Line Items]
Land	1,841
Buildings Improvements	2,259
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,100
Accumulated Depreciation	3
Rolling Acres Plaza: | Lady Lake, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,930
Land	7,540
Buildings Improvements	26,839
Total Adjustment to Basis	(4,093)
Gross Amount at Which Carried	30,286
Accumulated Depreciation	1,302
Rushmore Crossing: | Lady Lake, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,046
Land	7,066
Buildings Improvements	33,019
Total Adjustment to Basis	(12,059)
Gross Amount at Which Carried	28,026
Accumulated Depreciation	569
Rushmore Crossing: | Lady Lake, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	883
Buildings Improvements	4,128
Total Adjustment to Basis	(1,348)
Gross Amount at Which Carried	3,663
Accumulated Depreciation	87
Safeway: | Juneau, AK
Real Estate and Accumulated Depreciation [Line Items]
Land	6,174
Buildings Improvements	8,792
Total Adjustment to Basis	0
Gross Amount at Which Carried	14,966
Accumulated Depreciation	11
Sherwin Williams: | Macon, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	59
Buildings Improvements	659
Total Adjustment to Basis	0
Gross Amount at Which Carried	718
Accumulated Depreciation	98
Shippensburg Market Place: | Shippensburg, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,917
Buildings Improvements	9,263
Total Adjustment to Basis	(3,530)
Gross Amount at Which Carried	7,650
Accumulated Depreciation	185
Shoe Carnival & Buffalo Wild Wings: | Salina, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	991
Buildings Improvements	1,909
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,900
Accumulated Depreciation	3
Shoppes at Stroud: | Stroud Township, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,754
Buildings Improvements	22,614
Total Adjustment to Basis	(2,220)
Gross Amount at Which Carried	24,148
Accumulated Depreciation	1,226
Shoppes of Gary Farms: | Bowling Green, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	3,529
Buildings Improvements	14,197
Total Adjustment to Basis	0
Gross Amount at Which Carried	17,726
Accumulated Depreciation	20
Shops at Abilene: | Abilene, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,989
Land	5,142
Buildings Improvements	19,684
Total Adjustment to Basis	0
Gross Amount at Which Carried	24,826
Accumulated Depreciation	30
Siemens: | Milford, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	4,137
Buildings Improvements	23,153
Total Adjustment to Basis	0
Gross Amount at Which Carried	27,290
Accumulated Depreciation	42
Southwest Plaza: | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,992
Buildings Improvements	48,935
Total Adjustment to Basis	(23,580)
Gross Amount at Which Carried	28,347
Accumulated Depreciation	1,360
Spinx: | Simpsonville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	591
Buildings Improvements	969
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,560
Accumulated Depreciation	194
Springfield Commons: | Springfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,250
Land	3,745
Buildings Improvements	15,049
Total Adjustment to Basis	(4,182)
Gross Amount at Which Carried	14,612
Accumulated Depreciation	168
Sprouts: | Bixby, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	1,320
Buildings Improvements	7,117
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,437
Accumulated Depreciation	1,367
Sprouts: | Lawrence, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	762
Buildings Improvements	8,111
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,873
Accumulated Depreciation	10
Steinhafels: | Greenfield, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,783
Buildings Improvements	7,643
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,426
Accumulated Depreciation	9
Stoneridge Village: | Jefferson City, MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,500
Land	1,830
Buildings Improvements	9,351
Total Adjustment to Basis	1
Gross Amount at Which Carried	11,182
Accumulated Depreciation	1,886
Stop & Shop: | North Kingstown, RI
Real Estate and Accumulated Depreciation [Line Items]
Land	639
Buildings Improvements	2,057
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,696
Accumulated Depreciation	2
Summerfield Crossing: | Riverview, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,310
Land	6,130
Buildings Improvements	6,753
Total Adjustment to Basis	(1,159)
Gross Amount at Which Carried	11,724
Accumulated Depreciation	357
Sunbelt Rentals: | Canton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	147
Buildings Improvements	1,679
Total Adjustment to Basis	138
Gross Amount at Which Carried	1,964
Accumulated Depreciation	415
Sunoco: | Palm Beach Gardens, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,050
Buildings Improvements	2,667
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,717
Accumulated Depreciation	515
Sunoco: | Palm City, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	667
Buildings Improvements	1,698
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,365
Accumulated Depreciation	329
Sunoco: | Palm Springs, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	580
Buildings Improvements	1,907
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,487
Accumulated Depreciation	369
Sunoco: | Sebastian, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	490
Buildings Improvements	2,128
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,618
Accumulated Depreciation	412
Sunoco: | Titusville, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	626
Buildings Improvements	2,534
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,160
Accumulated Depreciation	490
Sutters Creek: | Rocky Mount, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,458
Buildings Improvements	2,616
Total Adjustment to Basis	283
Gross Amount at Which Carried	4,357
Accumulated Depreciation	607
Take 5: | Andrews, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	230
Buildings Improvements	862
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,092
Accumulated Depreciation	1
Take 5: | Bedford, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	283
Buildings Improvements	837
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,120
Accumulated Depreciation	1
Take 5: | Burleson, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	471
Buildings Improvements	936
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,407
Accumulated Depreciation	1
Take 5: | Burleson, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	201
Buildings Improvements	837
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,038
Accumulated Depreciation	1
Take 5: | Burleson, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	394
Buildings Improvements	407
Total Adjustment to Basis	0
Gross Amount at Which Carried	801
Accumulated Depreciation	1
Take 5: | Cedar Hill, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	250
Buildings Improvements	705
Total Adjustment to Basis	0
Gross Amount at Which Carried	955
Accumulated Depreciation	$ 1

SCHEDULE III - Real Estate As_6

SCHEDULE III - Real Estate Assets and Accumulated Depreciation - 5 (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 578,096,000
Land	901,859,000
Buildings Improvements	2,533,704,000
Total Adjustment to Basis	(63,637,000)
Gross Amount at Which Carried	3,371,926,000	$ 2,530,311,000	$ 4,444,041,000	$ 4,564,592,000
Accumulated Depreciation	298,364,000	$ 243,122,000	$ 385,245,000	$ 334,476,000
Take 5: | Hereford, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	50,000
Buildings Improvements	995,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,045,000
Accumulated Depreciation	1,000
Take 5: | Irving, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	120,000
Buildings Improvements	445,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	565,000
Accumulated Depreciation	1,000
Take 5: | Irving, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	210,000
Buildings Improvements	818,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,028,000
Accumulated Depreciation	1,000
Take 5: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	151,000
Buildings Improvements	1,428,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,579,000
Accumulated Depreciation	2,000
Take 5: | Midland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	192,000
Buildings Improvements	1,861
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,053,000
Accumulated Depreciation	2,000
Take 5: | Mineral Wells, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	131,000
Buildings Improvements	1,263,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,394,000
Accumulated Depreciation	1,000
Target Center: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	3,234,000
Buildings Improvements	7,297,000
Total Adjustment to Basis	(651,000)
Gross Amount at Which Carried	9,880,000
Accumulated Depreciation	394,000
Terrell Mill Village: | Marieta, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,079,000
Buildings Improvements	11,185,000
Total Adjustment to Basis	14,000
Gross Amount at Which Carried	14,278,000
Accumulated Depreciation	2,205,000
TGI Friday's: | Cheseapeake, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,217,000
Buildings Improvements	1,388,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,605,000
Accumulated Depreciation	242,000
TGI Friday's: | Wilmington, DE
Real Estate and Accumulated Depreciation [Line Items]
Land	1,685,000
Buildings Improvements	969,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,654,000
Accumulated Depreciation	172,000
The Center at Hobbs Brook: | Sturbridge, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,500,000
Land	11,241,000
Buildings Improvements	29,152,000
Total Adjustment to Basis	1,502,000
Gross Amount at Which Carried	41,895,000
Accumulated Depreciation	4,655,000
The Market at Clifty Crossing: | Columbus, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	2,669,000
Buildings Improvements	16,308,000
Total Adjustment to Basis	113,000
Gross Amount at Which Carried	19,090,000
Accumulated Depreciation	4,509,000
The Market at Polaris: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	11,828,000
Buildings Improvements	41,702,000
Total Adjustment to Basis	(36,715,000)
Gross Amount at Which Carried	16,815,000
Accumulated Depreciation	284,000
The Marquis: | Williamsburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,556,000
Land	2,615,000
Buildings Improvements	11,406,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	14,021,000
Accumulated Depreciation	2,609,000
The Plant: | San Jose, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	123,000,000
Land	67,596,000
Buildings Improvements	108,203,000
Total Adjustment to Basis	583,000
Gross Amount at Which Carried	176,382,000
Accumulated Depreciation	24,218,000
The Ridge at Turtle Creek: | Hattiesburg, MS
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,900,000
Land	2,749,000
Buildings Improvements	12,434,000
Total Adjustment to Basis	(3,482,000)
Gross Amount at Which Carried	11,701,000
Accumulated Depreciation	267,000
Tire Kingdom: | Bluffton, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	645,000
Buildings Improvements	1,688,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,333,000
Accumulated Depreciation	235,000
Tire Kingdom: | Summerville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,208,000
Buildings Improvements	1,233,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,441,000
Accumulated Depreciation	178,000
Tire Kingdom & Starbucks: | Mount Pleasant, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,400,000
Land	1,291,000
Buildings Improvements	3,149,000
Total Adjustment to Basis	(502,000)
Gross Amount at Which Carried	3,938,000
Accumulated Depreciation	154,000
Tractor Supply: | Ashland, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	500,000
Buildings Improvements	2,696,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,196,000
Accumulated Depreciation	510,000
Tractor Supply: | Augusta, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	407,000
Buildings Improvements	2,315,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,722,000
Accumulated Depreciation	430,000
Tractor Supply: | Blytheville, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	780,000
Buildings Improvements	2,660,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,440,000
Accumulated Depreciation	4,000
Tractor Supply: | Cambridge, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	807,000
Buildings Improvements	1,272,000
Total Adjustment to Basis	28,000
Gross Amount at Which Carried	2,107,000
Accumulated Depreciation	339,000
Tractor Supply: | Canon City, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	597,000
Buildings Improvements	2,527,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,124,000
Accumulated Depreciation	513,000
Tractor Supply: | Carlyle, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	707,000
Buildings Improvements	2,386,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,093,000
Accumulated Depreciation	4,000
Tractor Supply: | Fortuna, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	568,000
Buildings Improvements	3,819,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,387,000
Accumulated Depreciation	675,000
Tractor Supply: | Logan, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	597,000
Buildings Improvements	3,232,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,829,000
Accumulated Depreciation	4,000
Tractor Supply: | Lumberton, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	611,000
Buildings Improvements	2,007,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,618,000
Accumulated Depreciation	438,000
Tractor Supply: | Marion, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,536,000
Buildings Improvements	1,099,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,635,000
Accumulated Depreciation	216,000
Tractor Supply: | Midland, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	865,000
Buildings Improvements	2,182,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,047,000
Accumulated Depreciation	3,000
Tractor Supply: | Monticello, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	448,000
Buildings Improvements	1,916,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,364,000
Accumulated Depreciation	415,000
Tractor Supply: | Shelbyville, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	586,000
Buildings Improvements	2,576,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,162,000
Accumulated Depreciation	4,000
Tractor Supply: | South Hill, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	630,000
Buildings Improvements	2,179,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,809,000
Accumulated Depreciation	445,000
Tractor Supply: | Weaverville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	867,000
Buildings Improvements	3,138,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,005,000
Accumulated Depreciation	624,000
Tractor Supply: | Woodward, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	446,000
Buildings Improvements	1,973,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,419,000
Accumulated Depreciation	402,000
Tractor Supply: | Asheville, NC
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Tractor Supply: | Wilmington, NC
Real Estate and Accumulated Depreciation [Line Items]
Total Adjustment to Basis	0
Trader Joe's: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,308,000
Buildings Improvements	2,597,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,905,000
Accumulated Depreciation	594,000
Trader Joe's: | Asheville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,770,000
Buildings Improvements	3,766,000
Gross Amount at Which Carried	6,536,000
Accumulated Depreciation	744,000
Trader Joe's: | Wilmington, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,016,000
Buildings Improvements	2,519,000
Gross Amount at Which Carried	4,535,000
Accumulated Depreciation	630,000
Turfway Crossing: | Florence, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,280,000
Land	2,261,000
Buildings Improvements	10,323,000
Total Adjustment to Basis	418,000
Gross Amount at Which Carried	13,002,000
Accumulated Depreciation	2,180,000
Ulta Salon: | Albany, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	441,000
Buildings Improvements	1,757,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,198,000
Accumulated Depreciation	313,000
Ulta Salon: | Greeley, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	596,000
Buildings Improvements	2,035,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,631,000
Accumulated Depreciation	315,000
United Oil: | Bellflower, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,246,000
Buildings Improvements	788,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,034,000
Accumulated Depreciation	125,000
United Oil: | Brea, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,393,000
Buildings Improvements	658,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,051,000
Accumulated Depreciation	104,000
United Oil: | Carson, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,354,000
Buildings Improvements	4,821,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,175,000
Accumulated Depreciation	6,000
United Oil: | El Cajon, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,533,000
Buildings Improvements	568,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,101,000
Accumulated Depreciation	90,000
United Oil: | El Cajon, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,225,000
Buildings Improvements	368,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,593,000
Accumulated Depreciation	58,000
United Oil: | El Monte, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	766,000
Buildings Improvements	510,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,276,000
Accumulated Depreciation	80,000
United Oil: | Escondido, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,514,000
Buildings Improvements	1,062,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,576,000
Accumulated Depreciation	168,000
United Oil: | Fallbrook, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,266,000
Buildings Improvements	3,458,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,724,000
Accumulated Depreciation	4,000
United Oil: | Glendale, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,871,000
Buildings Improvements	795,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,666,000
Accumulated Depreciation	126,000
United Oil: | Harbor City, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,359,000
Buildings Improvements	3,047,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,406,000
Accumulated Depreciation	3,000
United Oil: | Hawthorne, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	896,000
Buildings Improvements	1,764,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,660,000
Accumulated Depreciation	2,000
United Oil: | Inglewood, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,809,000
Buildings Improvements	878,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,687,000
Accumulated Depreciation	139,000
United Oil: | La Habra, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,971,000
Buildings Improvements	571,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,542,000
Accumulated Depreciation	90,000
United Oil: | Lakewood, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,499,000
Buildings Improvements	2,400,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,899,000
Accumulated Depreciation	3,000
United Oil: | Lawndale, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,462,000
Buildings Improvements	862,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,324,000
Accumulated Depreciation	136,000
United Oil: | Long Beach, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,088,000
Buildings Improvements	2,582,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,670,000
Accumulated Depreciation	3,000
United Oil: | Long Beach, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,778,000
Buildings Improvements	883,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,661,000
Accumulated Depreciation	140,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,334,000
Buildings Improvements	717,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,051,000
Accumulated Depreciation	113,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,552,000
Buildings Improvements	1,242,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,794,000
Accumulated Depreciation	196,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,745,000
Buildings Improvements	669,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,414,000
Accumulated Depreciation	106,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,930,000
Buildings Improvements	428,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,358,000
Accumulated Depreciation	68,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,927,000
Buildings Improvements	1,484,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,411,000
Accumulated Depreciation	235,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,182,000
Buildings Improvements	701,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,883,000
Accumulated Depreciation	111,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,435,000
Buildings Improvements	2,614,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,049,000
Accumulated Depreciation	3,000
United Oil: | Los Angeles, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,016,000
Buildings Improvements	3,486,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,502,000
Accumulated Depreciation	4,000
United Oil: | Madera, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,500,000
Buildings Improvements	3,804,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,304,000
Accumulated Depreciation	265,000
United Oil: | Norco, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,852,000
Buildings Improvements	1,489,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,341,000
Accumulated Depreciation	235,000
United Oil: | Poway, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,072,000
Buildings Improvements	705,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,777,000
Accumulated Depreciation	111,000
United Oil: | San Clemente, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,036,000
Buildings Improvements	3,561,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,597,000
Accumulated Depreciation	4,000
United Oil: | San Diego, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,362,000
Buildings Improvements	1,662,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,024,000
Accumulated Depreciation	2,000
United Oil: | San Diego, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,547,000
Buildings Improvements	3,218,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,765,000
Accumulated Depreciation	4,000
United Oil: | San Diego, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,409,000
Buildings Improvements	4,105,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,514,000
Accumulated Depreciation	5,000
United Oil: | San Diego, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,977,000
Buildings Improvements	1,448,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,425,000
Accumulated Depreciation	229,000
United Oil: | San Diego, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,877,000
Buildings Improvements	883,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,760,000
Accumulated Depreciation	139,000
United Oil: | San Diego, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,824,000
Buildings Improvements	382,000
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,206,000
Accumulated Depreciation	$ 61,000

SCHEDULE III - Real Estate As_7

SCHEDULE III - Real Estate Assets and Accumulated Depreciation - 6 (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 578,096
Land	901,859
Buildings Improvements	2,533,704
Total Adjustment to Basis	(63,637)
Gross Amount at Which Carried	3,371,926	$ 2,530,311	$ 4,444,041	$ 4,564,592
Accumulated Depreciation	298,364	$ 243,122	$ 385,245	$ 334,476
United Oil: | Santa Ana, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,629
Buildings Improvements	1,767
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,396
Accumulated Depreciation	2
United Oil: | Santa Clarita, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,787
Buildings Improvements	733
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,520
Accumulated Depreciation	116
United Oil: | Sun City, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,136
Buildings Improvements	1,421
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,557
Accumulated Depreciation	224
United Oil: | Vista, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,063
Buildings Improvements	334
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,397
Accumulated Depreciation	53
United Oil: | Vista (Vista), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,028
Buildings Improvements	418
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,446
Accumulated Depreciation	66
United Oil: | Whittier, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,629
Buildings Improvements	985
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,614
Accumulated Depreciation	156
University Marketplace: | Marion, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	850
Buildings Improvements	6,722
Total Adjustment to Basis	121
Gross Amount at Which Carried	7,693
Accumulated Depreciation	1,831
Urban Air Adventure Park: | Waukesha, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	3,408
Buildings Improvements	12,918
Total Adjustment to Basis	666
Gross Amount at Which Carried	16,992
Accumulated Depreciation	2,057
Vacant: | Appleton, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	895
Buildings Improvements	1,026
Total Adjustment to Basis	(1,194)
Gross Amount at Which Carried	727
Accumulated Depreciation	9
Vacant: | Cherokee, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings Improvements	3,326
Total Adjustment to Basis	(2,654)
Gross Amount at Which Carried	889
Accumulated Depreciation	11
Vacant: | Cokato, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	358
Buildings Improvements	3,229
Total Adjustment to Basis	(2,280)
Gross Amount at Which Carried	1,307
Accumulated Depreciation	8
Vacant: | Danville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	274
Buildings Improvements	1,514
Total Adjustment to Basis	(1,062)
Gross Amount at Which Carried	726
Accumulated Depreciation	36
Vacant: | Dickson City, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,113
Buildings Improvements	7,946
Total Adjustment to Basis	(7,817)
Gross Amount at Which Carried	1,242
Accumulated Depreciation	221
Vacant: | Eldersburg, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	557
Buildings Improvements	876
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,433
Accumulated Depreciation	102
Vacant: | Lancaster, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,203
Buildings Improvements	1,620
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,823
Accumulated Depreciation	361
Vacant: | Nampa, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	449
Buildings Improvements	2,213
Total Adjustment to Basis	(1,482)
Gross Amount at Which Carried	1,180
Accumulated Depreciation	36
Vacant: | Raleigh, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	329
Buildings Improvements	556
Total Adjustment to Basis	0
Gross Amount at Which Carried	885
Accumulated Depreciation	1
Vacant: | Sanford, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,031
Buildings Improvements	1,807
Total Adjustment to Basis	(1,861)
Gross Amount at Which Carried	977
Accumulated Depreciation	14
Vacant: | Troy, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	992
Buildings Improvements	1,577
Total Adjustment to Basis	(1,383)
Gross Amount at Which Carried	1,186
Accumulated Depreciation	88
Vacant: | Valentine, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	395
Buildings Improvements	3,549
Total Adjustment to Basis	(2,403)
Gross Amount at Which Carried	1,541
Accumulated Depreciation	57
Vacant: | Walker, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	900
Buildings Improvements	3,909
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,809
Accumulated Depreciation	657
Ventura Place: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	5,203
Buildings Improvements	7,998
Total Adjustment to Basis	(5,050)
Gross Amount at Which Carried	8,151
Accumulated Depreciation	196
Vitamin Shoppe: | Taylor, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	631
Buildings Improvements	767
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,398
Accumulated Depreciation	1
Wal-Mart: | Anderson, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,424
Buildings Improvements	9,719
Total Adjustment to Basis	0
Gross Amount at Which Carried	12,143
Accumulated Depreciation	1,251
Wal-Mart: | Florence, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,013
Buildings Improvements	9,225
Total Adjustment to Basis	0
Gross Amount at Which Carried	11,238
Accumulated Depreciation	1,182
Wal-Mart: | Perry, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,270
Buildings Improvements	11,053
Total Adjustment to Basis	0
Gross Amount at Which Carried	13,323
Accumulated Depreciation	2,364
Wal-Mart: | Summerville, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,300
Land	2,410
Buildings Improvements	2,098
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,508
Accumulated Depreciation	309
Wal-Mart: | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	14,823
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	14,823
Accumulated Depreciation	0
Wal-Mart: | York, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,913
Buildings Improvements	11,410
Total Adjustment to Basis	0
Gross Amount at Which Carried	13,323
Accumulated Depreciation	2,425
Walgreens: | Danville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	989
Buildings Improvements	4,547
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,536
Accumulated Depreciation	979
Walgreens: | Austintown, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	637
Buildings Improvements	4,173
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,810
Accumulated Depreciation	779
Walgreens: | Baton Rouge, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,015
Buildings Improvements	4,671
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,686
Accumulated Depreciation	6
Walgreens: | Chicopee, MA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,094
Buildings Improvements	4,945
Total Adjustment to Basis	0
Gross Amount at Which Carried	7,039
Accumulated Depreciation	772
Walgreens: | Clinton, MI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,209
Land	1,977
Buildings Improvements	4,232
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,209
Accumulated Depreciation	5
Walgreens: | Connelly Springs, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,349
Buildings Improvements	3,628
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,977
Accumulated Depreciation	694
Walgreens: | Dearborn Heights, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,236
Buildings Improvements	3,411
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,647
Accumulated Depreciation	657
Walgreens: | East Chicago, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	331
Buildings Improvements	5,242
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,573
Accumulated Depreciation	839
Walgreens: | Fort Madison, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	514
Buildings Improvements	3,723
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,237
Accumulated Depreciation	700
Walgreens: | Greenville, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	542
Buildings Improvements	4,063
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,605
Accumulated Depreciation	5
Walgreens: | Harrison, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,750
Land	1,237
Buildings Improvements	5,424
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,661
Accumulated Depreciation	6
Walgreens: | Hickory, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,100
Buildings Improvements	4,241
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,341
Accumulated Depreciation	867
Walgreens: | Huntsville, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,273
Land	1,931
Buildings Improvements	2,457
Total Adjustment to Basis	97
Gross Amount at Which Carried	4,485
Accumulated Depreciation	533
Walgreens: | Indianapolis, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,602
Land	1,212
Buildings Improvements	5,484
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,696
Accumulated Depreciation	6
Walgreens: | Kannapolis, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,480
Buildings Improvements	5,031
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,511
Accumulated Depreciation	976
Walgreens: | Kilgore, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	821
Buildings Improvements	5,601
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,422
Accumulated Depreciation	6
Walgreens: | Kokomo, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	0
Buildings Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried	0
Accumulated Depreciation	0
Walgreens: | Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Land	2,325
Buildings Improvements	3,262
Total Adjustment to Basis	70
Gross Amount at Which Carried	5,657
Accumulated Depreciation	622
Walgreens: | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	860
Buildings Improvements	2,539
Total Adjustment to Basis	106
Gross Amount at Which Carried	3,505
Accumulated Depreciation	494
Walgreens: | Lees Summit, MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,184
Land	1,205
Buildings Improvements	4,884
Total Adjustment to Basis	0
Gross Amount at Which Carried	6,089
Accumulated Depreciation	6
Walgreens: | Little Rock, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	548
Buildings Improvements	4,676
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,224
Accumulated Depreciation	768
Walgreens: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	565
Buildings Improvements	3,257
Total Adjustment to Basis	103
Gross Amount at Which Carried	3,925
Accumulated Depreciation	689
Walgreens: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	531
Buildings Improvements	2,951
Total Adjustment to Basis	102
Gross Amount at Which Carried	3,584
Accumulated Depreciation	620
Walgreens: | Metropolis, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	284
Buildings Improvements	4,991
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,275
Accumulated Depreciation	798
Walgreens: | Mobile, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,603
Buildings Improvements	3,161
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,764
Accumulated Depreciation	591
Walgreens: | Pine Bluff, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	248
Buildings Improvements	5,229
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,477
Accumulated Depreciation	982
Walgreens: | Richmond, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	965
Buildings Improvements	4,685
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,650
Accumulated Depreciation	5
Walgreens: | Sacramento, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	324
Buildings Improvements	2,669
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,993
Accumulated Depreciation	458
Walgreens: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,417
Buildings Improvements	7,932
Total Adjustment to Basis	0
Gross Amount at Which Carried	9,349
Accumulated Depreciation	9
Walgreens: | Siloam Springs, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,839
Land	936
Buildings Improvements	4,367
Total Adjustment to Basis	0
Gross Amount at Which Carried	5,303
Accumulated Depreciation	5
Walgreens: | Slidell, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,027
Land	757
Buildings Improvements	3,557
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,314
Accumulated Depreciation	4
Walgreens: | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	830
Buildings Improvements	3,619
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,449
Accumulated Depreciation	803
Walgreens: | Suffolk, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,261
Buildings Improvements	3,461
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,722
Accumulated Depreciation	807
Walgreens: | Sun City, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	837
Buildings Improvements	2,484
Total Adjustment to Basis	245
Gross Amount at Which Carried	3,566
Accumulated Depreciation	455
Walgreens: | Tarboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	755
Buildings Improvements	3,634
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,389
Accumulated Depreciation	594
Walgreens: | Whiteville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	829
Buildings Improvements	4,090
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,919
Accumulated Depreciation	5
Walgreens/KeyBank: | Newburgh, NY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,000
Land	3,280
Buildings Improvements	5,441
Total Adjustment to Basis	0
Gross Amount at Which Carried	8,721
Accumulated Depreciation	992
Wallace Commons: | Salisbury, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,590
Land	3,265
Buildings Improvements	8,058
Total Adjustment to Basis	0
Gross Amount at Which Carried	11,323
Accumulated Depreciation	1,674
Wallace Commons II: | Salisbury, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,231
Buildings Improvements	8,479
Total Adjustment to Basis	0
Gross Amount at Which Carried	10,710
Accumulated Depreciation	1,639
Waterford South Park: | Clarksville, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,200
Land	2,946
Buildings Improvements	8,564
Total Adjustment to Basis	45
Gross Amount at Which Carried	11,555
Accumulated Depreciation	2,075
Wendy's: | Grafton, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	539
Buildings Improvements	894
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,433
Accumulated Depreciation	153
Wendy's: | Westminster, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	596
Buildings Improvements	1,108
Total Adjustment to Basis	0
Gross Amount at Which Carried	1,704
Accumulated Depreciation	189
Western Crossing: | Jacksonville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	3,382
Buildings Improvements	7,775
Total Adjustment to Basis	0
Gross Amount at Which Carried	11,157
Accumulated Depreciation	12
West Marine: | Chicago, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	4,442
Buildings Improvements	8,698
Total Adjustment to Basis	0
Gross Amount at Which Carried	13,140
Accumulated Depreciation	10
West Marine: | Panama City, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	676
Buildings Improvements	2,219
Total Adjustment to Basis	0
Gross Amount at Which Carried	2,895
Accumulated Depreciation	399
West Marine: | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,107
Buildings Improvements	3,398
Total Adjustment to Basis	0
Gross Amount at Which Carried	4,505
Accumulated Depreciation	595
Westover Market: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	2,705
Buildings Improvements	7,959
Total Adjustment to Basis	(6,264)
Gross Amount at Which Carried	4,400
Accumulated Depreciation	159
Winn-Dixie: | Amite, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,479
Buildings Improvements	1,691
Total Adjustment to Basis	0
Gross Amount at Which Carried	3,170
Accumulated Depreciation	$ 4

SCHEDULE III - Real Estate As_8

SCHEDULE III - Real Estate Assets and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2021USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Property, plant and equipment, land and real estate assets, net tax basis	$ 3,700,000
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	2,530,311	$ 4,444,041	$ 4,564,592
Additions
Acquisitions	738,172	5,305	11,151
Improvements	192,591	13,832	6,135
Assets placed back into service	200,758
Total additions	1,131,521	19,137	17,286
Less: Deductions
Cost of real estate sold	83,144	1,448,915	61,891
Other (including provisions for impairment of real estate assets)	206,762	483,952	75,946
Total deductions	289,906	1,932,867	137,837
Balance, end of period	3,371,926	2,530,311	4,444,041
Gross intangible lease assets	389,564	313,127		$ 367,622
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	243,122	385,245	334,476
Additions
Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired	56,218	73,790	92,998
Improvements - Depreciation expense for tenant improvements and building equipment	2,280	2,352	2,481
Total additions	58,498	76,142	95,479
Deductions
Cost of real estate sold	10,108	144,820	6,901
Other (including provisions for impairment of real estate assets)	(6,852)	73,445	37,809
Total deductions	3,256	218,265	44,710
Balance, end of period	$ 298,364	$ 243,122	$ 385,245
Buildings
Deductions
Acquired real estate asset, useful life	40 years
Tenant Improvements
Deductions
Acquired real estate asset, useful life	15 years
Intangible lease assets
Less: Deductions
Gross intangible lease assets	$ 389,600
Accumulated amortization of intangible lease assets	$ 155,000
Anchored Shopping Center
Deductions
Number of properties owned | property	56

SCHEDULE IV - MORTGAGE LOANS _2

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages					$ 481,438
Carrying amount of mortgages					481,670	$ 298,880	$ 89,762	$ 0
Cure payments receivable					7,351	0	0
Allowance for credit losses					(60,628)	0	0
Net balance, end of period					428,393	298,880	89,762
Principal amount of loans subject to delinquent principal or interest					0
Provision for credit losses	$ 123	$ 7,905	$ 691	$ 25,682	68,356	$ 0	$ 0
Mezzanine loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Provision for credit losses			$ 13,000		$ 70,400
Condo New York, New York 1
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					14.85%
Face amount of Mortgages					$ 34,904
Carrying amount of mortgages					35,888
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 2
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					14.85%
Face amount of Mortgages					$ 22,480
Carrying amount of mortgages					23,218
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 3
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					14.85%
Face amount of Mortgages					$ 13,906
Carrying amount of mortgages					14,350
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 4
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					14.85%
Face amount of Mortgages					$ 9,131
Carrying amount of mortgages					9,624
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 5
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					8.00%
Face amount of Mortgages					$ 22,104
Carrying amount of mortgages					22,373
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 6
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					8.00%
Face amount of Mortgages					$ 16,681
Carrying amount of mortgages					16,880
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 7
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					8.00%
Face amount of Mortgages					$ 10,034
Carrying amount of mortgages					10,153
Principal amount of loans subject to delinquent principal or interest					$ 0
Condo New York, New York 8
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					8.00%
Face amount of Mortgages					$ 7,549
Carrying amount of mortgages					7,639
Principal amount of loans subject to delinquent principal or interest					$ 0
Office / Duluth, Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					3.15%
Face amount of Mortgages					$ 46,935
Carrying amount of mortgages					46,486
Principal amount of loans subject to delinquent principal or interest					$ 0
Multifamily / Atlanta, Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					2.75%
Face amount of Mortgages					$ 69,500
Carrying amount of mortgages					69,238
Principal amount of loans subject to delinquent principal or interest					$ 0
Office / Dallas, Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					4.50%
Face amount of Mortgages					$ 155,899
Carrying amount of mortgages					154,168
Principal amount of loans subject to delinquent principal or interest					$ 0
Office / Orlando, Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate					4.00%
Face amount of Mortgages					$ 72,315
Carrying amount of mortgages					71,653
Principal amount of loans subject to delinquent principal or interest					$ 0

SCHEDULE IV - MORTGAGE LOANS _3

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - MOVEMENT IN MORTGAGE LOANS ON REAL ESTATE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning of period	$ 298,880	$ 89,762	$ 0
Additions during period:
New loans	231,212	217,014	89,295
Capitalized interest	539	8,546	384
Accretion of fees and other items	1,909	2,441	268
Total additions	233,660	228,001	89,947
Less: Deductions during period:
Collections of principal	(47,670)	(17,186)	0
Deferred fees and other items	(3,200)	(1,697)	(185)
Total deductions	(50,870)	(18,883)	(185)
Balance, end of period	481,670	298,880	89,762
Cure payments receivable	7,351	0	0
Allowance for credit losses	(60,628)	0	0
Net balance, end of period	$ 428,393	$ 298,880	$ 89,762