Cim Real Estate Finance Trust (CMRF) 10-K 30 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2015	Mar. 24, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	COLE CREDIT PROPERTY TRUST IV, INC.
Entity Central Index Key	1,498,547
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity common stock, shares outstanding (shares)		312.1
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 3.1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment in real estate assets:
Land	$ 1,113,987	$ 972,983
Buildings, fixtures and improvements	3,071,618	2,617,956
Intangible lease assets	533,477	440,002
Total real estate investments, at cost	4,719,082	4,030,941
Less: accumulated depreciation and amortization	(253,115)	(126,271)
Total real estate investments, net	4,465,967	3,904,670
Investment in unconsolidated joint venture	18,359	19,170
Total real estate investments and related assets, net	4,484,326	3,923,840
Cash and cash equivalents	26,316	55,287
Restricted cash	8,274	4,560
Rents and tenant receivables, net	54,782	34,929
Due from affiliates	47	470
Prepaid expenses, property escrow deposits, derivative assets and other assets	4,359	7,137
Deferred costs, net	4,095	5,245
Total assets	4,582,199	4,031,468
LIABILITIES AND STOCKHOLDERS’ EQUITY
Notes payable and credit facility, net	2,066,563	1,458,828
Accounts payable and accrued expenses	26,418	25,355
Due to affiliates	5,613	5,473
Intangible lease liabilities, net	53,822	55,535
Distributions payable	16,568	16,189
Deferred rental income, derivative liabilities and other liabilities	26,100	21,710
Total liabilities	$ 2,195,084	$ 1,583,090
Commitments and contingencies
Redeemable common stock and noncontrolling interest	$ 190,561	$ 121,972
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 490,000,000 shares authorized, 312,093,211 and 304,950,000 shares issued and outstanding, respectively	3,121	3,050
Capital in excess of par value	2,607,367	2,607,448
Accumulated distributions in excess of earnings	(408,575)	(280,035)
Accumulated other comprehensive loss	(5,359)	(4,057)
Total stockholders’ equity	2,196,554	2,326,406
Total liabilities and stockholders’ equity	$ 4,582,199	$ 4,031,468

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	10,000,000	10,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	490,000,000	490,000,000
Common stock, shares issued (shares)	312,093,211	304,950,000
Common stock, shares outstanding (shares)	312,093,211	304,950,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental income	$ 321,425	$ 221,909	$ 90,680
Tenant reimbursement income	46,306	34,373	11,877
Total revenues	367,731	256,282	102,557
Operating expenses:
General and administrative	13,652	11,510	7,566
Property operating	20,890	15,508	5,807
Real estate tax	33,571	23,527	7,700
Advisory fees and expenses	36,225	24,142	10,549
Acquisition-related	15,526	51,763	48,286
Depreciation and amortization	122,227	84,402	33,345
Impairment	1,440	0	0
Total operating expenses	243,531	210,852	113,253
Operating income (loss)	124,200	45,430	(10,696)
Other income (expense):
Interest expense and other, net	(59,307)	(34,260)	(22,184)
Net income (loss)	64,893	11,170	(32,880)
Net income (loss) allocated to noncontrolling interest	122	(20)	0
Net income (loss) attributable to the Company	$ 64,771	$ 11,190	$ (32,880)
Weighted average number of common shares outstanding:
Basic and diluted (shares)	309,263,576	292,072,088	90,330,927
Net income (loss) per common share:
Basic and diluted (USD per share)	$ 0.21	$ 0.04	$ (0.36)

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 64,893	$ 11,170	$ (32,880)
Other comprehensive loss:
Unrealized loss on interest rate swaps	(7,787)	(7,046)	(4,203)
Amount of loss reclassified from other comprehensive loss into income as interest expense	6,485	5,241	1,951
Total other comprehensive loss	(1,302)	(1,805)	(2,252)
Comprehensive income (loss)	63,591	9,365	(35,132)
Comprehensive income (loss) allocated to noncontrolling interest	122	(20)	0
Comprehensive income (loss) attributable to the Company	$ 63,469	$ 9,385	$ (35,132)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings	Accumulated Other Comprehensive Loss
Balance, shares (shares) at Dec. 31, 2012		29,943,549
Balance at Dec. 31, 2012	$ 245,515	$ 299	$ 264,341	$ (19,125)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		181,205,760
Issuance of common stock	1,807,820	$ 1,811	1,806,009
Distributions to investors	(56,583)			(56,583)
Commissions on stock sales and related dealer manager fees	(157,767)		(157,767)
Other offering costs	(36,179)		(36,179)
Redemptions of common stock (shares)		(122,637)
Redemptions of common stock	(1,182)		(1,182)
Changes in redeemable common stock	(24,520)		(24,520)
Comprehensive loss	(35,132)			(32,880)	(2,252)
Balance, shares (shares) at Dec. 31, 2013		211,026,672
Balance at Dec. 31, 2013	1,741,972	$ 2,110	1,850,702	(108,588)	(2,252)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		95,036,480
Issuance of common stock	941,930	$ 951	940,979
Distributions to investors	(182,637)			(182,637)
Commissions on stock sales and related dealer manager fees	(72,706)		(72,706)
Other offering costs	(7,277)		(7,277)
Changes in redeemable common stock	(93,412)		(93,412)
Redemptions and cancellations of common stock (shares)		(1,113,152)
Redemptions and cancellations of common stock	(10,849)	$ (11)	(10,838)
Comprehensive loss	$ 9,385			11,190	(1,805)
Balance, shares (shares) at Dec. 31, 2014	304,950,000	304,950,000
Balance at Dec. 31, 2014	$ 2,326,406	$ 3,050	2,607,448	(280,035)	(4,057)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		11,745,917
Issuance of common stock	112,158	$ 117	112,041
Distributions to investors	(193,311)			(193,311)
Commissions on stock sales and related dealer manager fees	0		0
Other offering costs	(6)		(6)
Changes in redeemable common stock	(67,974)		(67,974)
Redemptions and cancellations of common stock (shares)		(4,602,706)
Redemptions and cancellations of common stock	(44,188)	$ (46)	(44,142)
Comprehensive loss	$ 63,469			64,771	(1,302)
Balance, shares (shares) at Dec. 31, 2015	312,093,211	312,093,211
Balance at Dec. 31, 2015	$ 2,196,554	$ 3,121	$ 2,607,367	$ (408,575)	$ (5,359)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ 64,893	$ 11,170	$ (32,880)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization, net	121,128	82,143	33,156
Amortization of deferred financing costs	4,646	3,201	3,056
Amortization of fair value adjustment of mortgage notes payable assumed	(336)	(94)	0
Straight-line rental income	(11,776)	(8,227)	(4,853)
Bad debt expense	320	113	59
Equity in income of unconsolidated joint venture	(798)	(765)	(324)
Return on investment from unconsolidated joint venture	1,038	719	130
Loss on sale of real estate	108	157	0
Impairment of real estate	1,440	0	0
Fair value adjustment to contingent consideration	(1,747)	0	0
Changes in assets and liabilities:
Rents and tenant receivables	(3,570)	(12,375)	(8,181)
Prepaid expenses and other assets	(488)	(480)	(730)
Accounts payable and accrued expenses	6,043	6,741	8,688
Deferred rental income and other liabilities	1,436	4,355	7,369
Due from affiliates	423	(470)	0
Due to affiliates	140	2,898	2,080
Net cash provided by operating activities	182,900	89,086	7,570
Cash flows from investing activities:
Investment in real estate assets and capital expenditures	(677,754)	(1,717,744)	(1,667,832)
Real estate developments	(684)	(31,742)	0
Return of investment in unconsolidated joint venture	571	0	(18,930)
Proceeds from sale of real estate	1,058	1,758	0
Escrowed funds for acquisition of real estate investments	0	(70,254)	0
Release of escrowed funds for acquisition of real estate investments	0	70,254	0
Payment of property escrow deposits	(3,240)	(6,148)	(28,978)
Refund of property escrow deposits	7,025	9,888	20,453
Change in restricted cash	(3,714)	3,633	(7,670)
Net cash used in investing activities	(676,738)	(1,740,355)	(1,702,957)
Cash flows from financing activities:
Proceeds from issuance of common stock	0	837,669	1,782,118
Redemptions and cancellations of common stock	(44,188)	(10,849)	(1,182)
Offering costs on issuance of common stock	(6)	(84,920)	(190,670)
Distributions to investors	(80,773)	(72,756)	(21,768)
Proceeds from notes payable and borrowing facilities	1,218,367	744,064	970,842
Repayments of borrowing facilities and notes payable	(621,388)	(388)	(548,490)
Payment of loan deposits	(3,242)	(523)	(1,406)
Refund of loan deposits	3,242	1,068	861
Change in escrowed investor proceeds	0	(5,147)	4,624
Deferred financing costs paid	(7,638)	(1,681)	(12,408)
Contributions from noncontrolling interests	762	2,142	0
Distributions to noncontrolling interests	(269)	(46)	0
Other financing activities	0	(2,651)	(455)
Net cash provided by financing activities	464,867	1,405,982	1,982,066
Net (decrease) increase in cash and cash equivalents	(28,971)	(245,287)	286,679
Cash and cash equivalents, beginning of period	55,287	300,574	13,895
Cash and cash equivalents, end of period	$ 26,316	$ 55,287	$ 300,574

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS Cole Credit Property Trust IV, Inc. (the “Company”) is a Maryland corporation, incorporated on July 27, 2010, that qualified as a real estate investment trust (“REIT”) for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2012. The Company is the sole general partner of and owns, directly or indirectly, 100% of the partnership interests in Cole Operating Partnership IV, LP, a Delaware limited partnership. The Company is externally managed by Cole REIT Advisors IV, LLC (“CR IV Advisors”), a Delaware limited liability company and an affiliate of the Company’s sponsor, Cole Capital ® , which is a trade name used to refer to a group of affiliated entities directly or indirectly controlled by VEREIT, Inc. (“VEREIT”), a widely-held public company whose shares of common stock are listed on the New York Stock Exchange (NYSE: VER). VEREIT indirectly owns and/or controls the Company’s external advisor, CR IV Advisors, the Company’s dealer manager for the Offering (as defined below), Cole Capital Corporation (“CCC”), the Company’s property manager, CREI Advisors, LLC (“CREI Advisors”), and the Company’s sponsor, Cole Capital. On January 26, 2012 , pursuant to a Registration Statement on Form S-11 (Registration No. 333-169533) (the “Registration Statement”) filed under the Securities Act of 1933, as amended (the “Securities Act”), 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”). On November 25, 2013 , the Company reallocated $400.0 million in shares from its distribution reinvestment plan (the “DRIP”) to the primary portion of the Offering, and on February 18, 2014 , the Company reallocated an additional $23.0 million in shares from the DRIP to the primary portion of the Offering. As a result of these reallocations, the Offering offered up to a maximum of approximately 292.3 million shares of common stock at a price of $10.00 per share in the primary portion of the Offering and up to approximately 5.5 million additional shares pursuant to the DRIP under which the Company’s stockholders could have elected to have distributions reinvested in additional shares of common stock at a price of $9.50 per share. As of February 25, 2014, the Company no longer accepted subscription agreements in connection with the Offering because it had received subscription agreements that allowed it to reach the maximum primary 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 DRIP. The remaining approximately 404,000 unsold shares from the Offering were deregistered. In addition, the Company registered 26.0 million shares of common stock under the DRIP pursuant to a Registration Statement filed on Form S-3 (Registration No. 333-192958) (the “DRIP Offering” and collectively with the Offering, the “Offerings”), which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 19, 2013 and automatically became effective with the SEC upon filing. The Company has issued, and expects that it will continue to issue, shares of common stock in the DRIP Offering. On September 27, 2015, the Company announced that its board of directors (the “Board”) established an estimated value of the Company’s common stock, as of August 31, 2015, of $9.70 per share for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account statement reporting obligations under National Association of Securities Dealers Conduct Rule 2340. Going forward, the Company intends to publish an updated estimated value per share on at least an annual basis. Pursuant to the terms of the Company’s DRIP, as of August 31, 2015, distributions are reinvested in shares of our common stock at a price of $9.70 per share, the estimated per share value as determined by the Board. As of December 31, 2015 , the Company had issued approximately 317.9 million shares of its common stock in the Offerings, including 20.6 million shares issued in the DRIP Offering, for gross offering proceeds of $3.2 billion before organization and offering costs, selling commissions and dealer manager fees of $306.0 million . As of December 31, 2015 , the Company owned 871 properties, which include properties owned through a consolidated joint venture arrangement (the “Consolidated Joint Venture”), comprising 25.2 million rentable square feet of commercial space located in 45 states. As of December 31, 2015 , the rentable space at these properties was 98.5% leased. In addition, through an unconsolidated joint venture arrangement, as of December 31, 2015 , the Company had an interest in one property comprising 176,000 rentable square feet of commercial space (the “Unconsolidated Joint Venture”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements. Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the Consolidated Joint Venture in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations. 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 these VIEs based on standards set forth in GAAP as described above. As of December 31, 2015 , the Company determined that it had a controlling interest in the Consolidated Joint Venture and therefore met the GAAP requirements for consolidation. As of December 31, 2015 and December 31, 2014 , the Company was not required to consolidate the Unconsolidated Joint Venture as the applicable joint venture entity did not qualify as a VIE and the Company did not meet the control requirement for consolidation. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company has chosen to break out the details of (i) real estate tax expenses from property operating expenses in the Company’s consolidated statements of operations and (ii) straight-line rental income in the Company’s consolidated statements of cash flows. The Company has also chosen to combine the depreciation of $54.8 million and $21.6 million for the years ended December 31, 2014 and 2013, respectively, and amortization of $29.6 million and $11.7 million for the years ended December 31, 2014 and 2013, respectively, into the line item depreciation and amortization in the consolidated statements of operations. The unrealized loss on interest rate swaps line item from the prior years has been disaggregated within the consolidated statements of other comprehensive income (loss) into the captions unrealized loss on interest rate swaps and amount of loss reclassified from other comprehensive loss into income as interest expense. Further, the Company has modified the presentation of debt issuance costs related to a recognized debt liability to be presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability (specifically relating to mortgage notes payable and the term portion of the credit facility), rather than presenting the costs as an asset, for all periods presented. As such, the corresponding prior period amounts have also been broken out into separate line items to conform to the current financial statement presentation. The Company has also reclassified certain accounts, as shown below, in its previously issued consolidated balance sheet to conform to the current period presentation. Investments in real estate assets have been presented gross, with the related depreciation and amortization amounts subtracted out to arrive at the net real estate investments balance. None of the revised reclassifications reflect corrections of any amounts. The following table presents the previously reported balances and the reclassified balances for the impacted line items of the December 31, 2014 consolidated balance sheet (in thousands): December 31, 2014 As Previously Reported Investment in real estate assets: Land $ 972,983 Buildings and improvements, less accumulated depreciation of $78,186 2,539,770 Intangible lease assets, less accumulated amortization of $48,085 391,917 Total investment in real estate assets, net $ 3,904,670 December 31, 2014 As Reclassified Investment in real estate assets: Land $ 972,983 Buildings, fixtures and improvements 2,617,956 Intangible lease assets 440,002 Total real estate investments, at cost 4,030,941 Less: accumulated depreciation and amortization (126,271 ) Total real estate investments, net $ 3,904,670 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 Investments Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition-related expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All repairs and maintenance are expensed as incurred. 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 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, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. The Company recorded impairment charges of $1.4 million related to one property during the year ended December 31, 2015 . 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 Acquisitions for further discussion regarding real estate investment activity. No impairment indicators were identified and no impairment losses were recorded during the years ended December 31, 2014 or 2013 . Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and estimate the 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 would be recorded to reflect the estimated fair value of the property, net of selling costs. There were no assets identified as held for sale as of December 31, 2015 or 2014 . 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 identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition-related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above- and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, the remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above- or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company 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 (the “Contingent Payments”). 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. Contingent consideration arrangements, including amounts funded through an escrow account, are recorded upon acquisition of the respective property at their estimated fair values, and any changes to the estimated fair values, subsequent to acquisition, are reflected in the accompanying consolidated statements of operations. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable 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. Development Activities Project costs and expenses, including interest incurred, associated with the development, construction and lease-up of a real estate project are capitalized as construction in progress. Once the development and construction of the building is substantially completed, the amounts capitalized to construction in progress are transferred to (i) land and (ii) buildings, fixtures and improvements and are depreciated over their respective useful lives. During the year ended December 31, 2015 , the Company capitalized $1.5 million of interest expense associated with development projects. The Company did not capitalize any interest expense during the year ended December 31, 2014 . Noncontrolling Interest-Redeemable Interest in Consolidated Joint Venture On June 27, 2014 , the Company completed the formation of the Consolidated Joint Venture. Pursuant to the joint venture agreement, the joint venture partner has a right to exercise an option after two years whereby the Company will be required to purchase the ownership interest of the joint venture partner at fair market value. 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 $122,000 , received contributions of $762,000 , and paid distributions of $269,000 related to the noncontrolling interest during the year ended December 31, 2015 . The Company recorded the noncontrolling interest of $2.7 million and $2.1 million as of December 31, 2015 and December 31, 2014 , respectively, as temporary equity, in the mezzanine section of the consolidated balance sheets, due to the redemption option existing outside the control of the Company. Investment in Unconsolidated Joint Venture The Company accounts for the Unconsolidated Joint Venture using the equity method of accounting as the Company has the ability to exercise significant influence, but not control, over operating and financial policies of this investment. The equity method of accounting requires the investment to be initially recorded at cost and subsequently adjusted for the Company’s share of equity in the Unconsolidated Joint Venture’s earnings and distributions. The Company is required to determine whether an event or change in circumstances has occurred that may have a significant adverse effect on the fair value of its investment in the Unconsolidated Joint Venture. If an event or change in circumstance has occurred, the Company is required to evaluate the Unconsolidated Joint Venture for potential impairment and determine if the carrying amount of its investment exceeds its fair value. An impairment charge is recorded when an impairment is deemed to be other-than-temporary. To determine whether an impairment is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until the carrying amount is fully recovered. The evaluation of an investment in an Unconsolidated Joint Venture for potential impairment requires the Company’s management to exercise significant judgment and to make certain assumptions. The use of different judgments and assumptions could result in different conclusions. No impairment indicators were identified and no impairment losses were recorded related to the Unconsolidated Joint Venture during the years ended December 31, 2015 and December 31, 2014 . Restricted Cash The Company had $8.3 million and $4.6 million in restricted cash as of December 31, 2015 and 2014 , respectively. Included in restricted cash was $5.9 million and $2.7 million held by lenders in lockbox accounts, as of December 31, 2015 and 2014 , 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 $2.4 million and $1.9 million held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the respective lender’s loan agreement as of December 31, 2015 and 2014 , respectively. Cash Concentrations As of December 31, 2015 , the Company had cash on deposit, including restricted cash, at 11 financial institutions, five of which had Company deposits in excess of federally insured levels totaling $30.9 million ; however, the Company has not experienced any losses in such accounts. The Company limits significant cash deposits to accounts held by financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. 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 effective interest method. Unamortized deferred financing costs are written off when the associated debt was refinanced or repaid before maturity. As discussed in “Reclassifications” and “Recent Accounting Pronouncements” in this note, the Company historically presented the costs as an asset for the respective financing agreements. Pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-03, the presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, has been reclassified such that the debt issuance costs related to a recognized debt liability is presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. However, the Company has not reclassified the presentation of deferred financing costs related to the revolving loan portion of the credit facility as, pursuant to FASB ASU 2015-15, debt issuance costs related to securing a revolving line of credit may be presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred financing costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2015 and 2014 , the Company had $4.1 million and $5.2 million , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined the financing will not close. Due to Affiliates CR IV Advisors, and certain of its affiliates, received fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management, financing and leasing of the properties of the Company. As of December 31, 2015 , $5.6 million was due to CR IV Advisors and its affiliates for such services, as discussed in Note 11 — Related-Party Transactions and Arrangements. 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 effective portion of the derivative instrument that is designated as a hedge is recorded as other comprehensive income (loss). The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations. Redeemable Common Stock Under the Company’s 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 DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the 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. Revenue Recognition Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. 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. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred. The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the allowance for uncollectible accounts or record a direct write-off of the receivable in the consolidated statements of operations and comprehensive income (loss). As of December 31, 2015 and December 31, 2014 , the Company had an allowance for uncollectible accounts of $301,000 and $67,000 , respectively. 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 Internal Revenue Code of 1986, as amended, 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) 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, 2015 , 2014 or 2013 . Reportable Segment The Company’s commercial real estate investments consist primarily of income-producing necessity retail properties that are single-tenant or multi-tenant “power centers,” which are leased to creditworthy tenants under long-term net leases. The properties are geographically diversified throughout the United States and have similar economic characteristics. The Company’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment. Recent Accounting Pronouncements Effective December 31, 2015, the Company early adopted the accounting and reporting requirements of ASU No. 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation and Subsequent Measurement of Debt Issuance Costs (“ASU 2015-03”) and ASU No. 2015-15, Interest — Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”), included in the FASB Accounting Standards Codification (“ASC”) for balance sheet classification of debt issuance costs requiring debt issuance costs to be presented as an offset to the related debt. The Company has applied these requirements retrospectively. Accordingly, the Company has offset $7.7 million of previously reported debt issuance costs included in other assets with the previously reported notes payable and credit facility, net balance of $1.5 billion in the Company’s December 31, 2014 consolidated balance sheet. The adoption of these accounting and reporting requirements had no impact on the Company’s consolidated statements of operations or consolidated statements of cash flows. ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”) — The evaluation of limited partnerships or similar entities as VIEs was modified. The revised requirements may affect the method of consolidation for reporting entities involved with such entities. Additional disclosure is required for entities not previously included in the reporting entity as a VIE. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. Application of the revised standards may follow the retrospective approach or a modified retrospective approach. The Company has evaluated the effect of ASU 2015-02 and noted that there will not be an impact to the Company’s consolidated financial statements, except certain expanded disclosures will be required. 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. The Company is currently evaluating the effect that certain of these new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements: ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) - The requirements were amended to remove inconsistencies in revenue requirements and to provide a more complete framework for addressing revenue issues across a broad range of industries and transaction types. The revised standard’s core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. These provisions are effective January 1, 2018, and are to be applied retrospectively, with early adoption permitted for periods beginning after December 15, 2016 and interim periods thereafter. ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”) - The amendments in this update eliminate the requirement that an acquirer in a business combination retrospectively account for measurement-period adjustments. Measurement-period adjustments should be recognized during the period in which the adjustment amount is determined, including any earnings impact that the acquirer would have recorded in prior periods if the accounting was completed at the acquisition date. These provisions are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, with early adoption permitted. ASU No. 2016-01, Financial Instruments (Subtopic 825-10) - The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income (loss), the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the consolidated balance sheets or the accompanying notes to the financial statements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. On February 25, 2016, the FASB issued Accounting Standards Codification (“ASC”) 842 (“ASC 842”), Leases , which replaces the existing guidance in ASC 840, Leases . ASC 842 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. ASC 842 requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. For finance leases, the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS GAAP defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. 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: Notes payable and credit facility – The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs, as discussed in Note 2 — Summary of Significant Accounting Policies. These financial instruments are valued using Level 2 inputs. As of December 31, 2015 and 2014 , the estimated fair value of the Company’s debt was $2.1 billion and $1.5 billion , respectively, which approximated their carrying value. Derivative instruments – The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2015, the Company has assessed the overall significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Other financial instruments – The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable to approximate their fair values because of the short period of time between their origination and their expected realization and based on their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments. Contingent consideration arrangements – The contingent consideration arrangements are carried at fair value and are valued using Level 3 inputs. The fair value of the Contingent Payments is determined based on the estimated timing and probability of successfully leasing vacant space subsequent to the Company’s acquisition of certain properties. 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, on disposition of the financial assets and liabilities. As of December 31, 2015 and 2014 , 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, 2015 and 2014 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Interest rate swaps $ 519 $ — $ 519 $ — Total assets $ 519 $ — $ 519 $ — Liabilities: Interest rate swaps $ (5,878 ) $ — $ (5,878 ) $ — Contingent consideration (4,538 ) — — (4,538 ) Total liabilities $ (10,416 ) $ — $ (5,878 ) $ (4,538 ) Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Interest rate swaps $ (4,057 ) $ — $ (4,057 ) $ — Contingent consideration (3,405 ) — — (3,405 ) Total liabilities $ (7,462 ) $ — $ (4,057 ) $ (3,405 ) The following are reconciliations of the changes in liabilities with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2015 and 2014 (in thousands): Contingent Consideration Arrangements Beginning Balance, December 31, 2014 $ (3,405 ) Purchases and fair value adjustments: Purchases (2,880 ) Fair value adjustments 1,747 Ending Balance, December 31, 2015 $ (4,538 ) Contingent Consideration Arrangements Beginning Balance, December 31, 2013 $ (784 ) Purchases, fair value adjustments and payments made: Purchases (5,342 ) Fair value adjustments 70 Payments made 2,651 Ending Balance, December 31, 2014 $ (3,405 ) 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 Acquisitions, during the year ended December 31, 2015 , real estate assets related to one single-tenant property totaling approximately 11,000 square feet were deemed to be impaired due to certain impairment indicators and its carrying value was reduced to its estimated fair value of $1.3 million , resulting in impairment charges of $1.4 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; (2) discount rates; (3) number of years property will be held; (4) property operating expenses; and (5) re-leasing assumptions including 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 performance and sustainability of the Company’s tenants. The following table presents the impairment charges by asset class recorded during the year ended December 31, 2015 (dollar amounts in thousands): Year Ended December 31, 2015 Asset class impaired: Land $ 498 Buildings, fixtures and improvements 662 Intangible lease assets 280 Total impairment loss $ 1,440

Real Estate Acquisitions

Real Estate Acquisitions	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
REAL ESTATE ACQUISITIONS	REAL ESTATE ACQUISITIONS 2015 Property Acquisitions During the year ended December 31, 2015 , the Company acquired 111 commercial properties, including properties held in the Consolidated Joint Venture, for an aggregate purchase price of $615.8 million (the “ 2015 Acquisitions”). The Company purchased the 2015 Acquisitions with net proceeds from the Offerings and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation for acquisitions purchased during the year ended December 31, 2015 (in thousands): December 31, 2015 Land $ 138,536 Buildings, fixtures and improvements 393,918 Acquired in-place leases 83,043 Acquired above-market leases 6,485 Intangible lease liabilities (5,883 ) Fair value adjustment of assumed note payable (253 ) Total purchase price $ 615,846 The Company recorded revenue for the year ended December 31, 2015 of $28.4 million and a net loss for the year ended December 31, 2015 of $6.3 million related to the 2015 Acquisitions. The following information summarizes selected financial information of the Company as if all of the 2015 Acquisitions were completed on January 1, 2014 for each period presented below. The table below presents the Company’s estimated revenue and net income , on a pro forma basis, for the years ended December 31, 2015 and 2014 (in thousands): Year Ended December 31, 2015 2014 Pro forma basis (unaudited): Revenue $ 387,921 $ 305,141 Net income $ 79,888 $ 8,267 The unaudited pro forma information for the year ended December 31, 2015 was adjusted to exclude $15.5 million of acquisition-related expenses recorded during the year ended December 31, 2015 . Accordingly, these costs were instead recognized in the unaudited pro forma information for the year ended December 31, 2014 . The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2014 , nor does it purport to represent the results of future operations. Development Project During the year ended December 31, 2014 , the Company acquired one land parcel, upon which a 1.6 million square foot industrial property was expected to be constructed. The land, acquired for an aggregate amount of $23.9 million , was excluded from the 2014 Acquisitions. During the year ended December 31, 2015 , the Company substantially completed the development project and placed it in service. As of December 31, 2015 , the Company had a total investment of $102.8 million . 2015 Land Disposition During the year ended December 31, 2015 , the Company sold one undeveloped land parcel for a gross sales price of $1.1 million , resulting in net cash proceeds of $1.0 million to the Company and a loss of $108,000 , which was recorded in other expenses in the consolidated statement of operations. Impairment of a Property The Company performs quarterly impairment review procedures, primarily through continuous monitoring of events and changes in circumstances that could indicate the carrying value of its real estate assets may not be recoverable. See Note 2 — Summary of Significant Accounting Policies for a discussion on the Company’s accounting policies regarding impairment of real estate assets. During the year ended December 31, 2015 , a property with a carrying value of $2.7 million was deemed to be impaired and its carrying value was reduced to its estimated fair value of $1.3 million , resulting in impairment charges of $1.4 million , which were recorded in the consolidated statement of operations. See Note 3 — Fair Value Measurements for a further discussion on these impairment charges. 2014 Property Acquisitions During the year ended December 31, 2014 , the Company acquired 422 commercial properties, including properties held in the Consolidated Joint Venture, for an aggregate purchase price of $1.7 billion (the “ 2014 Acquisitions”). The Company purchased the 2014 Acquisitions (as defined below) with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation (in thousands): December 31, 2014 Land $ 437,206 Buildings, fixtures and improvements 1,152,148 Acquired in-place leases 154,972 Acquired above-market leases 23,430 Intangible lease liabilities (24,620 ) Fair value adjustment of assumed note payable (765 ) Total purchase price $ 1,742,371 The Company recorded revenue for the year ended December 31, 2014 of $61.2 million and a net loss for the year ended December 31, 2014 of $25.7 million related to the 2014 Acquisitions. The following information summarizes selected financial information of the Company as if all of the 2014 Acquisitions were completed on January 1, 2013 for each period presented below. The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the years ended December 31, 2014 and 2013 (in thousands): Year Ended December 31, 2014 2013 Pro forma basis (unaudited): Revenue $ 332,860 $ 245,969 Net income (loss) $ 131,001 $ (53,805 ) The unaudited pro forma information for the year ended December 31, 2014 was adjusted to exclude $51.8 million of acquisition-related expenses recorded during the year ended December 31, 2014 . These costs were recognized in the unaudited pro forma information for the year ended December 31, 2013 . The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2013 , nor does it purport to represent the results of future operations. 2014 Land Disposition During the year ended December 31, 2014 , the Company sold one undeveloped land parcel for a gross sales price of $1.9 million , resulting in net cash proceeds of $1.8 million to the Company and a loss of $157,000 . Escrowed Funds for Acquisition of Real Estate Investments In anticipation of closing on two properties, the Company funded $70.3 million to an escrow account on September 30, 2014, which was returned when both of the properties closed and the title was transferred during the quarter ended December 31, 2014. As of December 31, 2014 , there were no amounts included in escrowed funds for acquisition of real estate investments on the accompanying consolidated balance sheets. 2013 Property Acquisitions During the year ended December 31, 2013, the Company acquired 248 commercial properties for an aggregate purchase price of $1.7 billion (the “2013 Acquisitions”). The Company purchased the 2013 Acquisitions with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation (in thousands): December 31, 2013 Land $ 390,781 Building and improvements 1,103,390 Acquired in-place leases 175,520 Acquired above-market leases 26,921 Acquired below-market leases (31,802 ) Total purchase price $ 1,664,810 The Company recorded revenue for the year ended December 31, 2013 of $60.4 million and a net loss for the year ended December 31, 2013 of $25.7 million related to the 2013 Acquisitions. The following information summarizes selected financial information of the Company as if all of the 2013 Acquisitions were completed on January 1, 2012 for each period presented below. The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the years ended December 31, 2013 and 2012 (in thousands): Year Ended December 31, 2013 2012 Pro forma basis (unaudited): Revenue $ 181,859 $ 147,515 Net income (loss) $ 44,490 $ (30,842 ) The unaudited pro forma information for the year ended December 31, 2013 was adjusted to exclude $48.3 million of acquisition related expenses recorded during the year ended December 31, 2013. These costs were recognized in the unaudited pro forma information for the year ended December 31, 2012. The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2012, nor does it purport to represent the results of future operations. Property Concentrations As of December 31, 2015 , no single tenant accounted for greater than 10% of the Company’s 2015 gross annualized rental revenues. The Company had certain geographic concentrations in its property holdings. In particular, as of December 31, 2015 , 77 of the Company’s properties were located in California , which accounted for 11% of the Company’s 2015 gross annualized rental revenues. In addition, the Company had tenants in the discount store and pharmacy industries, which comprised 14% and 11% , respectively, of the Company’s 2015 gross annualized rental revenues.

Intangible Lease Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS	INTANGIBLE LEASE ASSETS The intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2015 2014 In-place leases, net of accumulated amortization of $81,856 and $41,739, respectively (with a weighted average life remaining of 11.7 years and 12.4 years, respectively) $ 391,868 $ 344,664 Acquired above-market leases, net of accumulated amortization of $12,454 and $6,346, respectively (with a weighted average life remaining of 10.1 years and 10.5 years, respectively) 47,299 47,253 $ 439,167 $ 391,917 Amortization expense related to the in-place lease assets for the years ended December 31, 2015 , 2014 and 2013 , was $41.6 million , $29.6 million and $11.7 million , respectively. Amortization expense related to the acquired above-market lease assets for the years ended December 31, 2015 , 2014 and 2013 , was $6.4 million , $4.4 million and $1.9 million , respectively, and was recorded as a reduction to rental income in the consolidated statements of operations. Estimated amortization expense related to the intangible lease assets as of December 31, 2015 for each of the five succeeding fiscal years is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases Above-Market Leases 2016 $ 41,569 $ 6,220 2017 $ 38,776 $ 5,903 2018 $ 36,121 $ 5,022 2019 $ 32,504 $ 4,083 2020 $ 30,824 $ 3,839

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Notes)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, the Company uses certain types of derivative instruments for the purpose of managing or hedging its interest rate risk. During the year ended December 31, 2015 , the Company entered into five interest rate swap agreements. As of December 31, 2015 , the Company had eight interest rate swap agreements. The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2015 and 2014 (in thousands): Outstanding Notional Fair Value Assets and (Liabilities) Balance Sheet Amount as of Interest Effective Maturity December 31, December 31, Location December 31, 2015 Rates (1) Dates Dates 2015 2014 Interest Rate Swaps Prepaid expenses, property escrow deposits, derivative assets and other assets $ 330,766 2.78% to 3.59% 6/30/2015 to 10/15/2015 8/15/2018 to 11/06/2020 $ 519 $ — Interest Rate Swaps Deferred rental income, derivative liabilities and other liabilities $ 588,737 3.00% to 4.75% 6/24/2013 to 12/31/2015 6/24/2018 to 8/24/2020 $ (5,878 ) $ (4,057 ) ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2015. 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, to hedge the variability of the anticipated cash flows on its variable rate debt. The change in fair value of the effective portion 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 years ended December 31, 2015 , 2014 , and 2013 , the amounts reclassified were $6.5 million , $5.2 million and $2.0 million , respectively. Any ineffective portion of the change in fair value of the derivative instruments is recorded in interest expense. There were no portions of the change in the fair value of the interest rate swaps that were considered ineffective during the years ended December 31, 2015 , 2014 , and 2013 . During the next 12 months, the Company estimates that an additional $6.6 million will be reclassified from other comprehensive income (loss) as an increase to interest expense. The Company has agreements with each of its derivative counterparties that contain a provision 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, of $6.5 million at December 31, 2015 . 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 respective credit quality of the Company and the counterparty. There were no termination events or events of default related to the interest rate swaps as of December 31, 2015 .

Notes Payable And Credit Facili

Notes Payable And Credit Facility	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
NOTES PAYABLE AND CREDIT FACILITY	NOTES PAYABLE AND CREDIT FACILITY As of December 31, 2015 , the Company had $2.1 billion of debt outstanding, including net deferred financing costs, with a weighted average years to maturity of 4.1 years and weighted average interest rate of 3.3% . The following table summarizes the debt balances as of December 31, 2015 and 2014 , and the debt activity for the year ended December 31, 2015 (in thousands): During the Year Ended December 31, 2015 Balance as of December 31, 2014 Debt Issuances and Assumptions (1) Repayments Accretion and (Amortization) Balance as of December 31, 2015 Fixed rate debt $ 565,836 $ 346,180 $ (15,388 ) $ — $ 896,628 Variable rate debt — 53,500 — — 53,500 Credit facility 900,000 833,666 (606,000 ) — 1,127,666 Total debt 1,465,836 1,233,346 (621,388 ) — 2,077,794 Net premiums (2) 671 — — (81 ) 590 Deferred costs (3) (7,679 ) (6,473 ) — 2,331 (11,821 ) Total debt, net $ 1,458,828 $ 1,226,873 $ (621,388 ) $ 2,250 $ 2,066,563 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) 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. (3) Deferred costs relate to mortgage notes payable and the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies. As of December 31, 2015 , the fixed rate debt outstanding of $896.6 million included $107.8 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 3.4% to 5.0% per annum. The debt outstanding matures on various dates from June 2018 through October 2025 . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $1.6 billion as of December 31, 2015 . Each of the mortgage notes payable comprising the fixed rate debt is secured by the respective properties on which the debt was placed. As of December 31, 2015 , the variable rate debt outstanding of $53.5 million had a weighted average interest rate of 2.9% . The variable rate debt outstanding matures on various dates from February 2018 to February 2020 . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the variable rate debt outstanding was $106.8 million as of December 31, 2015 . The Company has an amended and restated unsecured credit facility (the “Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent (“JPMorgan Chase”), that provides for borrowings of up to $1.28 billion , which is comprised of a $636.7 million unsecured term loan (the “Term Loan”) and up to $643.3 million in unsecured revolving loans (the “Revolving Loans”). The Credit Facility may be increased up to a maximum of $1.6 billion . The Term Loan matures on August 15, 2018 and the Revolving Loans mature on August 15, 2017 ; however, the Company may elect to extend the maturity date for the Revolving Loans to August 15, 2018 subject to satisfying certain conditions set forth in the amended and restated unsecured credit agreement among the Company and JPMorgan Chase, as administrative agent (as amended, the “Amended and Restated Credit Agreement”). Depending upon the type of loan specified and overall leverage ratio, the Credit Facility bears interest at (i) one-month, two-month, three-month or six-month London Interbank Offered Rate (“LIBOR”) multiplied by the statutory reserve rate (the “Eurodollar Rate”) plus an interest rate spread ranging from 1.65% to 2.50% or (ii) a base rate, ranging from 0.65% to 1.50% , plus the greater of: (a) JPMorgan Chase’s Prime Rate; (b) the Federal Funds Effective Rate (as defined in the Amended and Restated Credit Agreement) plus 0.50% ; or (c) the one-month LIBOR multiplied by the statutory reserve rate plus 1.00% . As of December 31, 2015 , the Revolving Loans outstanding totaled $491.0 million , $250.0 million of which is subject to an interest rate swap agreement (the “Swapped Revolver”). The swap agreement has the effect of fixing the Eurodollar Rate beginning on December 31, 2015 through the maturity date of the Revolving Loans. The all-in rate for the Swapped Revolver was 3.0% as of December 31, 2015 . As of December 31, 2015 , the Term Loan outstanding totaled $636.7 million , $561.7 million of which is subject to interest rate swap agreements (the “Swapped Term Loan”). The swap agreements had the effect of fixing the Eurodollar Rate per annum through the maturity date of the Swapped Term Loan. As of December 31, 2015 , the weighted average all-in rate for the Swapped Term Loan was 3.1% . As of December 31, 2015 , the Company had $1.1 billion outstanding under the Credit Facility at a weighted average interest rate of 2.8% and $152.3 million in unused capacity, subject to borrowing availability. The Amended and Restated Credit Agreement contains provisions with respect to covenants, events of default and remedies customary for facilities of this nature. In particular, the Amended and Restated Credit Agreement requires the Company to maintain a minimum consolidated net worth greater than or equal to the sum of (i) $425.0 million plus (ii) 75% of the issuance of equity from the date of the Amended and Restated Credit Agreement, a leverage ratio less than or equal to 60% , a fixed charge coverage ratio equal to or greater than 1.50 , an unsecured debt to unencumbered asset value ratio equal to or less than 50% , an unsecured debt service coverage ratio equal to or greater than 1.75 and a secured debt ratio equal to or less than 30% . Based on the Company’s analysis and review of its results of operations and financial condition, the Company believes it was in compliance with the covenants under the Amended and Restated Credit Agreement as of December 31, 2015 . The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2015 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2016 $ 425 2017 491,451 2018 693,877 2019 499 2020 333,215 Thereafter 558,327 Total $ 2,077,794

Intangible Lease Liabilities

Intangible Lease Liabilities	12 Months Ended
	Dec. 31, 2015
Intangible Liabilities Disclosure [Abstract]
Intangible Lease Liabilities	INTANGIBLE LEASE LIABILITIES Intangible lease liabilities consisted of the following (in thousands, except weighted average life amounts): As of December 31, 2015 2014 Acquired below-market leases, net of accumulated amortization of $15,641 and $8,807, respectively (with a weighted average life remaining of 8.8 years and 9.2 years, respectively) $ 53,822 $ 55,535 Amortization of the intangible lease liabilities during the years ended December 31, 2015 , 2014 and 2013 was $7.6 million , $6.6 million and $2.1 million , respectively, and was recorded as an addition to rental income in the consolidated statements of operations. Estimated amortization of the intangible lease liabilities as of December 31, 2015 for each of the five succeeding fiscal years is as follows (in thousands): Year Ending December 31, Amortization of Below-Market Leases 2016 $ 7,731 2017 $ 7,417 2018 $ 7,040 2019 $ 6,164 2020 $ 5,530

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2015 , 2014 and 2013 are as follows (in thousands): Year Ended December 31, 2015 2014 2013 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 16,568 $ 16,189 $ 10,569 Accrued other offering costs due to affiliates $ — $ — $ 4,937 Accrued capital expenditures $ 2,741 $ 7,721 $ 1,760 Common stock issued through distribution reinvestment plan $ 112,158 $ 104,261 $ 25,702 Change in fair value of interest rate swaps $ (1,302 ) $ (1,805 ) $ (2,252 ) Contingent consideration recorded upon property acquisitions $ 2,880 $ 5,342 $ 553 Fair value of notes payable assumed in real estate acquisition $ 15,233 $ 25,979 $ — Supplemental Cash Flow Disclosures: Interest paid $ 54,388 $ 31,159 $ 17,474

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation In the ordinary course of business, the Company may become subject to litigation and claims. The Company is not aware of any material pending legal proceedings, other than ordinary routine litigation incidental to the Company’s business, to which the Company is a party or of which the Company’s properties are the subject. Purchase Commitments As of December 31, 2015 , the Company had entered into purchase agreements with unaffiliated third-party sellers to acquire a 100% interest in five retail properties, subject to meeting certain criteria, for an aggregate purchase price of $32.0 million , exclusive of closing costs. As of December 31, 2015 , the Company had $1.0 million of property escrow deposits held by escrow agents in connection with these future property acquisitions. These deposits are included in the consolidated balance sheets in prepaid expenses, property escrow deposits, derivative assets and other assets and could be forfeited under certain circumstances. None of these escrow deposits have been forfeited. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. In addition, the Company may own or acquire certain properties that are subject to environmental remediation. Generally, the seller of the property, the tenant of the property and/or another third party is responsible for environmental remediation costs related to a property. Additionally, in connection with the purchase of certain properties, the respective sellers and/or tenants may agree to indemnify the Company against future remediation costs. The Company also carries environmental liability insurance on its properties that provides limited coverage for any remediation liability and/or pollution liability for third-party bodily injury and/or property damage claims for which the Company may be liable. The Company is not aware of any environmental matters which it believes are reasonably likely to have a material effect on its results of operations, financial condition or liquidity.

Related-Party Transactions and

Related-Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred commissions, fees and expenses payable to CR IV Advisors and certain of its affiliates in connection with the Offering and the acquisition, management and disposition of its assets. Offering In connection with the Offering, CCC, the Company’s dealer manager for the Offering, received selling commissions of up to 7.0% of gross offering proceeds before reallowance of selling commissions earned by participating broker-dealers. CCC reallowed 100% of selling commissions earned to participating broker-dealers. In addition, CCC received up to 2.0% of gross offering proceeds before reallowance to participating broker-dealers as a dealer manager fee in connection with the primary portion of the Offering. CCC, in its sole discretion, has reallowed a portion of its dealer manager fee to such participating broker-dealers. No selling commissions or dealer manager fees are or were paid to CCC or other participating broker-dealers with respect to shares issued pursuant to the DRIP portion of the Offering or the DRIP Offering. All other organization and offering expenses associated with the sale of the Company’s common stock in the Offering (excluding selling commissions and dealer manager fees) were paid by CR IV Advisors or its affiliates and were reimbursed by the Company up to 2.0% of aggregate gross offering proceeds. A portion of the other organization and offering expenses were considered to be underwriting compensation. The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided by CR IV Advisors or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2015 2014 2013 Offering: Selling commissions $ — $ 55,921 $ 122,082 Selling commissions reallowed by CCC $ — $ 55,921 $ 122,082 Dealer manager fees $ — $ 16,780 $ 35,685 Dealer manager fees reallowed by CCC $ — $ 9,326 $ 20,183 Other offering costs $ — $ 7,277 $ 36,179 All amounts related to the years ended December 31, 2014 and 2013 have been paid to CR IV Advisors and its affiliates. Acquisitions and Operations CR IV Advisors or its affiliates also receive acquisition fees of up to 2.0% of: (1) the contract purchase price of each property or asset the Company acquires; (2) the amount paid in respect of the development, construction or improvement of each asset the Company acquires; (3) the purchase price of any loan the Company acquires; and (4) the principal amount of any loan the Company originates. Additionally, CR IV Advisors or its affiliates are reimbursed 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. The Company pays CR IV Advisors a monthly advisory fee based upon the Company’s monthly average invested assets, which is equal to the following amounts: (1) an annualized rate of 0.75% paid on the value of the Company’s average invested assets that are between $0 to $2.0 billion ; (2) an annualized rate of 0.70% paid on the value of the Company’s average invested assets that are between $2.0 billion to $4.0 billion ; and (3) an annualized rate of 0.65% paid on the value of the Company’s average invested assets that are over $4.0 billion . The Company reimburses CR IV Advisors or its affiliates for certain expenses CR IV Advisors or its affiliates paid or incurred in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse CR IV Advisors or its affiliates for any amount by which its operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceed the greater of: (1) 2.0% of average invested assets, or (2) 25.0% of net income other than any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of assets for that period. The Company will not reimburse for personnel costs in connection with services for which CR IV Advisors receives acquisition fees. The Company recorded fees and expense reimbursements as shown in the table below for services provided by CR IV Advisors or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2015 2014 2013 Acquisition and Operations: Acquisition fees and expenses $ 13,311 $ 38,483 $ 35,109 Advisory fees and expenses $ 36,225 $ 24,152 $ 10,549 Operating expenses $ 4,568 $ 3,383 $ 2,905 Of the amounts shown above, $5.6 million , $5.5 million and $2.6 million had been incurred, but not yet paid, for services provided by CR IV Advisors or its affiliates in connection with the acquisition and operations stage during the years ended December 31, 2015 , 2014 and 2013 , respectively, and such amounts were recorded as liabilities of the Company as of such dates. Liquidation/Listing If CR IV Advisors or its affiliates provide 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 will pay CR IV Advisors 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 a third party on the sale of such properties, not to exceed 1.0% of the contract price of the properties sold; provided, however, in no event may the disposition fee paid to CR IV Advisors or its affiliates, when added to the real estate commissions paid to 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. If the Company is sold or its assets are liquidated, CR IV Advisors will be entitled to receive a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after investors have received a return of their net capital invested and an 8.0% annual cumulative, non-compounded return. Alternatively, if the Company’s shares are listed on a national securities exchange, CR IV Advisors will be 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, exceeds the sum of the total amount of capital raised from investors and the amount of distributions necessary to generate an 8.0% annual cumulative, non-compounded return to investors. As an additional alternative, upon termination of the advisory agreement, CR IV Advisors may be entitled to a subordinated performance fee similar to the fee to which CR IV Advisors 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, 2015 , 2014 and 2013 , no commissions or fees were incurred for any services provided by CR IV Advisors and its affiliates in connection with the liquidation/listing stage. Due to/from Affiliates As of December 31, 2015 , $5.6 million had been incurred primarily for advisory, operating and prepaid insurance by CR IV Advisors or its affiliates, but had not yet been reimbursed by the Company. As of December 31, 2014 , $5.5 million had been incurred primarily for advisory, operating and acquisition-related expenses by CR IV Advisors 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 as of such periods. As of December 31, 2015 , $47,000 was due from CR IV Advisors and its affiliates related to amounts received by affiliates of the advisor which was due to the Company. As of December 31, 2014, $470,000 was due from CR IV Advisors and its affiliates primarily related to amounts paid by the Company on dead deals which are reimbursable by the advisor.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2015
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY Under various agreements, the Company has engaged or will engage CR IV Advisors and its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company’s common stock available for issuance, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. In the event that these companies are unable to provide the Company with these services, the Company would be required to find alternative providers of these services.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY As of December 31, 2015 and 2014, the Company registered 26.0 million shares of common stock pursuant to the DRIP Offering. All shares of such stock have a par value of $0.01 per share. The par value of investor proceeds raised from the DRIP Offering is classified as common stock, with the remainder allocated to capital in excess of par value. As of December 31, 2013, the Company was authorized to issue 490.0 million shares of common stock and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. 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 (“CREI”), an affiliate of CCI II Advisors. On February 7, 2014, the ownership of such shares was transferred to VEREIT Operating Partnership, L.P. (“VEREIT OP”). Pursuant to the Company’s charter, VEREIT OP is prohibited from selling the 20,000 shares of the common stock that represents the initial investment in the Company for so long as Cole Capital remains the Company’s sponsor; provided, however, that VEREIT OP may transfer ownership of all or a portion of these 20,000 shares of the Company’s common stock to other affiliates of the Company’s sponsor. The Company ceased offering shares of its common stock in the Offering on April 4, 2014 and registered 26.0 million shares of common stock under the DRIP Offering. Distribution Reinvestment Plan Pursuant to the DRIP, the Company allows stockholders to elect to have their distributions reinvested in additional shares of the Company’s common stock. The purchase price per share under the DRIP Offering is $9.70 per share, which is the most recently estimated value per share of the Company’s shares. The Company’s board of directors may terminate or amend the DRIP Offering at the Company’s discretion at any time upon ten days prior written notice to the stockholders. During the years ended December 31, 2015 , 2014 and 2013 , approximately 11.7 million , 11.0 million and 2.7 million shares were purchased under the DRIP portion of the Offering and the DRIP Offering for approximately $112.2 million , $104.3 million and $25.7 million , respectively. Share Redemption Program The Company’s 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 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 share redemption program. The Company will limit the number of shares redeemed pursuant to the 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 to the net proceeds the Company receives from the sale of shares under the DRIP. 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 period ending on the last day of the fiscal quarter, and funding for redemptions for each quarter generally will be limited to the net proceeds the Company receives from the sale of shares in the respective quarter under the DRIP. In accordance with the Company’s share redemption program, the per share redemption price (other than for shares purchased pursuant to the DRIP) will depend on the length of time the redeeming stockholder has held such shares as follows: after one year from the purchase date, 95% of the most recent estimated value of each share; after two years from the purchase date, 97.5% of the most recent estimated value of each share; and after three years from the purchase date, 100% of the most recent estimated value of each share. During this time period, the redemption price for shares purchased pursuant to the DRIP will be 100% of the most recent estimated value of each share. As a result of the Board’s determination of an estimated value of the Company’s shares of common stock, the estimated per share value of $9.70 , as of August 31, 2015, shall serve as the most recent estimated value for purposes of the share redemption program, effective October 1, 2015, until such time as the Board provides a new estimated share value. 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 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 share redemption program at any time upon 30 days’ notice to the stockholders. During the years ended December 31, 2015 , 2014 and 2013 , the Company redeemed approximately 4.6 million , 1.1 million and 123,000 shares, respectively, under the share redemption program for $44.2 million , $10.6 million and $1.2 million , respectively. Distributions Payable and Distribution Policy The Board authorized a daily distribution, based on 365 days in the calendar year, of $0.001712523 per share (which equates to 6.25% on an annualized basis based on the original offering price of $10.00 per share, and an annualized return of approximately 6.44% based on the most recent value per share determined by the Board of $9.70 ) for stockholders of record as of the close of business on each day of the period commencing on January 1, 2015 and ending on December 31, 2015. In addition, the Board authorized a daily distribution, based on 366 days in the calendar year, of $0.001706776 per share (which equates to 6.25% based on an annualized basis based on the original offering price of $10.00 per share, and an annualized return of 6.44% based on the most recent value per share determined by the Board of $9.70 ) for stockholders of record as of the close of business on each day of the period commencing on January 1, 2016 and ending on June 30, 2016. As of December 31, 2015 , the Company had distributions payable of $16.6 million .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nontaxable distributions. Nontaxable 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, 2015 , 2014 and 2013 : Year Ended December 31, 2015 2014 2013 Ordinary dividends 58 % 47 % 60 % Nontaxable distributions 42 % 53 % 40 % Total 100 % 100 % 100 % During the years ended December 31, 2015 , 2014 and 2013 , the Company distributed as dividends to its shareholders 100% of its taxable income for federal income tax purposes. Accordingly, no provision for federal income taxes related to such taxable income was recorded on the Company’s financial statements. During the years ended December 31, 2015 , 2014 and 2013 , the Company incurred state and local income and franchise taxes of $2.2 million , $1.3 million , and $473,000 , 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, 2015 and 2014 . 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.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES The Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2015 , the leases had a weighted-average remaining term of 10.9 years. The leases may have 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 terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2015 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2016 $ 334,619 2017 330,130 2018 320,445 2019 304,506 2020 295,446 Thereafter 2,238,323 $ 3,823,469 A certain amount of the Company’s rental 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, 2015 and 2014, the amount of the contingent rent earned by the Company was not significant. The Company did not earn any contingent rent during the year ended December 31, 2013.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2015 and 2014 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods presented includes all adjustments which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period. December 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 85,963 $ 90,528 $ 94,188 $ 97,052 Acquisition-related expenses $ 5,385 $ 3,882 $ 2,518 $ 3,741 Operating income $ 28,395 $ 31,862 $ 34,696 $ 29,247 Net income $ 15,998 $ 17,293 $ 18,485 $ 13,117 Net income attributable to the Company $ 16,015 $ 17,225 $ 18,452 $ 13,079 Basic and diluted net income per common share (1) $ 0.05 $ 0.06 $ 0.06 $ 0.04 Distributions declared per common share (1) $ 0.15 $ 0.16 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income per share and distributions declared 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, 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 51,551 $ 56,861 $ 64,591 $ 83,279 Acquisition-related expenses $ 8,633 $ 10,113 $ 21,009 $ 12,008 Operating income $ 10,564 $ 10,790 $ 3,698 $ 20,378 Net income (loss) $ 2,946 $ 3,190 $ (4,147 ) $ 9,181 Net income (loss) attributable to the Company $ 2,946 $ 3,204 $ (4,156 ) $ 9,196 Basic and diluted net income (loss) per common share (1) $ 0.01 $ 0.01 $ (0.01 ) $ 0.03 Distributions declared per common share (1) $ 0.15 $ 0.16 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income (loss) per share and distributions declared 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	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Issuance of Shares of Common Stock in the DRIP Offering The Company continues to issue shares of common stock in the DRIP Offering. As of March 24, 2016 , the Company had issued approximately 23.4 million shares pursuant to the DRIP Offering, resulting in gross proceeds to the Company of $223.5 million . Redemption of Shares of Common Stock Subsequent to December 31, 2015 and through March 24, 2016 , the Company redeemed approximately 2.9 million shares for $27.6 million (at an average price per share of $9.59 ). Credit Facility and Notes Payable As of March 24, 2016 , the Company had $1.1 billion outstanding under the Credit Facility and $175.3 million in unused capacity, subject to borrowing availability. The Company also entered into notes payable totaling $67.5 million , with a weighted average interest rate of 3.7% as of March 24, 2016 . On March 14, 2016, the Company executed a swap agreement associated with a $38.5 million note payable, which had the effect of fixing the variable interest rate per annum beginning on March 14, 2016 through the maturity date of the loan at an ending all-in rate of 3.6% . Investment in Real Estate Assets Subsequent to December 31, 2015 through March 24, 2016 , the Company acquired seven commercial real estate properties for an aggregate purchase price of $56.9 million . Acquisition-related expenses totaling $1.6 million were expensed as incurred. The Company has not completed its initial purchase price allocations with respect to these properties and therefore cannot provide similar disclosures to those included in Note 4 — Real Estate Acquisitions in these consolidated financial statements for these properties.

Schedule III - Real Estate Asse

Schedule III - Real Estate Assets and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation	Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Real Estate Held for Investment the Company Has Invested in Under Operating Leases: 24 Hour Fitness: Beaverton, OR (g) $ 2,609 $ 9,974 $ — $ 12,583 $ 322 9/30/2014 2009 Fort Worth, TX (g) 1,519 7,449 — 8,968 451 9/27/2013 2008 Aaron’s Rents: Hillsboro, OH (g) 279 829 — 1,108 64 8/26/2013 2013 Mountain Home, AR (g) 183 872 — 1,055 6 10/1/2015 2015 Wilmington, OH (g) 249 1,134 — 1,383 30 2/26/2015 2014 Academy Sports: Clarksville, TN (g) 1,811 6,603 — 8,414 276 6/17/2014 2014 Cookeville, TN $ — — 23,847 73,329 97,176 290 9/30/2014 2015 Douglasville, GA (g) 1,360 8,593 — 9,953 355 6/12/2014 2014 Flowood, MS (g) 1,534 7,864 — 9,398 348 6/27/2014 2014 McDonough, GA (g) 1,846 5,626 — 7,472 267 4/24/2014 2010 Valdosta, GA 5,838 2,482 5,922 — 8,404 462 5/10/2013 2012 Advance Auto: Corydon, IN (g) 190 1,219 — 1,409 107 10/26/2012 2012 Dearborn Heights, MI (g) 385 1,090 — 1,475 65 8/30/2013 2013 Decatur, GA (g) 606 1,053 — 1,659 59 12/20/2013 2012 Lake Geneva, WI 1,062 381 1,181 — 1,562 89 2/6/2013 2012 Lawton, OK (g) 387 1,000 — 1,387 15 6/12/2015 2005 Mattoon, IL (g) 261 1,063 — 1,324 1 12/4/2015 2015 Mt. Pleasant, IA (g) 122 1,069 — 1,191 55 4/26/2014 2013 North Ridgeville, OH (g) 218 1,284 — 1,502 121 4/13/2012 2008 Rutherfordton, NC (g) 220 944 — 1,164 55 10/22/2013 2013 Starkville, MS (g) 447 756 — 1,203 76 6/29/2012 2011 Willmar, MN (g) 200 1,279 — 1,479 26 3/25/2015 2014 Albany Square: Albany, GA — 1,606 7,113 300 9,019 454 2/26/2014 2013 Almeda Crossing: Houston, TX (g) 4,738 26,245 — 30,983 990 8/7/2014 2006 Amazon: Lebanon, TN 33,000 1,934 56,286 — 58,220 1,816 10/15/2014 2012 Applebee’s: Greenville, SC (g) 672 1,737 — 2,409 67 6/27/2014 2004 Lithonia, GA (g) 1,234 2,613 — 3,847 117 3/28/2014 2002 Savannah, GA (g) 818 1,686 — 2,504 72 5/22/2014 2006 AutoZone: Philipsburg, PA (g) 152 1,304 — 1,456 120 7/30/2012 2010 Poughkeepsie, NY (g) 699 1,356 — 2,055 14 8/20/2015 2005 Sheffield, OH — 815 — 785 1,600 — 10/15/2014 2014 Bass Pro Shops: Tallahassee, FL (g) 945 5,713 — 6,658 383 8/20/2013 2013 Beavercreek Shopping Center: Beavercreek, OH 17,200 5,504 25,178 537 31,219 1,558 10/31/2013 2013 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Bed Bath & Beyond/Golfsmith: Schaumburg, IL $ — $ 4,786 $ 6,149 $ — $ 10,935 $ 593 3/8/2013 1997 Benihana: Golden Valley, MN (g) 1,510 2,934 — 4,444 257 8/21/2012 1980 Lauderdale by the Sea, FL (g) 2,181 2,014 — 4,195 181 8/21/2012 1971 Lombard, IL (g) 1,390 2,343 — 3,733 245 8/21/2012 1984 Woodlands, TX (g) 1,151 968 — 2,119 88 8/21/2012 2001 Big Lots: San Angelo, TX (g) 1,043 1,947 — 2,990 234 12/19/2012 2012 Waco, TX (g) 1,069 1,326 56 2,451 172 12/10/2012 2012 Biolife Plasma Services: Bellingham, WA — 2,397 6,264 — 8,661 207 11/21/2014 2014 Grandville, MI — 959 4,791 — 5,750 146 11/21/2014 2014 Loveland, CO — 651 5,645 — 6,296 169 11/21/2014 2014 Bloomington, IN — 696 3,900 — 4,596 157 6/26/2014 2014 Fort Wayne, IN — 660 3,749 — 4,409 151 6/26/2014 2013 St. Cloud, MN — 889 3,633 — 4,522 161 6/26/2014 2013 St. George, UT — 1,195 5,561 — 6,756 118 3/12/2015 2014 Waterloo, IA — 489 3,380 — 3,869 152 6/26/2014 2013 West Fargo, ND — 1,379 5,052 — 6,431 113 3/12/2015 2014 Bojangles: Pelham, AL (g) 219 1,216 — 1,435 51 6/30/2014 2010 Boston Commons: Springfield, MA 5,400 3,101 7,042 — 10,143 283 8/19/2014 2004 Bottom Dollar Grocery: Ambridge, PA (g) 519 2,985 — 3,504 163 11/5/2013 2012 Brownsville Plaza: Baldwin, PA — 627 2,702 — 3,329 150 2/28/2014 2012 Bryan Crossing: Kodak, TN (g) 863 6,523 — 7,386 231 9/9/2014 2008 Buffalo Wild Wings: Idaho Falls, ID (g) 712 1,336 — 2,048 49 7/29/2014 2008 Warrenville, IL (g) 1,208 1,420 — 2,628 132 3/28/2013 2004 Woodridge, IL (g) 1,139 1,484 — 2,623 137 3/28/2013 2005 Caliber Collision Center: Frisco, TX (g) 1,484 2,038 — 3,522 76 9/16/2014 2014 Las Cruces, NM (g) 673 1,949 — 2,622 88 3/21/2014 2014 Midwest City, OK (g) 259 1,165 — 1,424 57 2/21/2014 2013 Denver, CO (g) 855 658 — 1,513 26 6/25/2014 1975 San Antonio, TX (g) 622 832 — 1,454 33 6/4/2014 2014 Wylie, TX (g) 816 2,690 — 3,506 68 2/10/2015 2014 Canton Marketplace: Canton, GA 32,000 8,310 48,667 857 57,834 4,452 3/28/2013 2009 Carlisle Crossing: Carlisle, PA (g) 4,491 15,817 — 20,308 724 9/18/2014 2006 Canarsie Plaza: Brooklyn, NY 75,000 37,970 71,267 790 110,027 5,507 12/5/2012 2011 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Century Plaza: Orlando, FL $ — $ 3,094 $ 6,178 $ — $ 9,272 $ 359 7/21/2014 2008 Chase: Hanover Township, NJ (g) 2,192 — — 2,192 — 12/18/2013 2012 Chestnut Square: Brevard, NC 3,727 425 5,037 — 5,462 354 6/7/2013 2008 Chili’s: Forest City, NC (g) 233 1,936 — 2,169 63 9/3/2014 2003 Coosa Town Center: Gadsden, AL — 3,246 7,799 — 11,045 476 12/20/2013 2004 Cost Plus World Market: Kansas City, MO (g) 1,378 2,396 — 3,774 272 11/13/2012 2001 Costco: Tallahassee, FL 5,146 9,497 — — 9,497 — 12/11/2012 2006 Cottonwood Commons: Albuquerque, NM 19,250 4,986 28,881 84 33,951 1,877 7/19/2013 2013 Coventry Crossing: Coventry, RI 6,000 3,462 5,899 — 9,361 389 9/12/2013 2008 Crosspoint: Hagerstown, MD (g) 12,285 14,359 (1,086 ) 25,558 621 9/30/2014 2000 Crossroads Annex: Lafayette, LA — 1,659 7,091 — 8,750 415 12/4/2013 2013 Crossroads Commons: Plover, WI (g) 1,000 4,515 75 5,590 308 12/10/2013 2012 CVS: Arnold, MO (g) 2,043 2,367 — 4,410 124 12/13/2013 2013 Asheville, NC (g) 1,108 1,084 — 2,192 106 4/26/2012 1998 Austin, TX (g) 1,076 3,475 — 4,551 181 12/13/2013 2013 Bainbridge, GA (g) 444 1,682 47 2,173 157 6/27/2012 1998 Bloomington, IN (g) 1,620 2,957 — 4,577 155 12/13/2013 2012 Blue Springs, MO (g) 395 2,722 — 3,117 143 12/13/2013 2013 Bridgeton, MO (g) 2,056 2,362 — 4,418 124 12/13/2013 2013 Cartersville, GA (g) 2,547 — — 2,547 — 10/22/2012 2009 Charleston, SC (g) 869 1,009 — 1,878 99 4/26/2012 1998 Chesapeake, VA (g) 1,044 3,053 — 4,097 164 12/13/2013 2013 Chicago, IL (g) 1,832 4,255 — 6,087 297 3/20/2013 2008 Cicero, IN (g) 487 3,099 — 3,586 163 12/13/2013 2013 Corpus Christi, TX (g) 648 2,557 — 3,205 241 4/19/2012 1998 Danville, IN (g) 424 2,105 — 2,529 83 7/16/2014 1998 Eminence, KY (g) 872 2,511 — 3,383 130 12/13/2013 2013 Florence, AL 1,735 1,030 1,446 — 2,476 105 3/27/2013 2000 Goose Creek, SC (g) 1,022 1,980 — 3,002 103 12/13/2013 2013 Greenwood, IN (g) 912 3,549 — 4,461 220 7/11/2013 1999 Hanover Township, NJ (g) 4,746 — — 4,746 — 12/18/2013 2012 Hazlet, NJ (g) 3,047 3,610 — 6,657 189 12/13/2013 2013 Honesdale, PA (g) 1,206 3,342 — 4,548 180 12/13/2013 2013 Independence, MO (g) 359 2,242 — 2,601 118 12/13/2013 2013 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed CVS (continued): Indianapolis, IN (g) $ 1,110 $ 2,484 $ — $ 3,594 $ 130 12/13/2013 2013 Irving, TX (g) 745 3,034 — 3,779 250 10/5/2012 2000 Jacksonville, FL (g) 2,182 3,817 — 5,999 143 7/16/2014 2004 Janesville, WI (g) 736 2,545 — 3,281 133 12/13/2013 2013 Katy, TX (g) 1,149 2,462 — 3,611 126 12/13/2013 2013 Lincoln, NE (g) 2,534 3,014 — 5,548 158 12/13/2013 2013 London, KY (g) 1,445 2,661 — 4,106 157 9/10/2013 2013 Middletown, NY (g) 665 5,483 — 6,148 284 12/13/2013 2013 North Wilkesboro, NC (g) 332 2,369 — 2,701 132 10/25/2013 1999 Poplar Bluff, MO (g) 1,861 2,211 — 4,072 117 12/13/2013 2013 Salem, NH (g) 3,456 2,351 — 5,807 126 11/18/2013 2013 San Antonio, TX (g) 1,893 1,848 — 3,741 98 12/13/2013 2013 Sand Springs, OK (g) 1,765 2,283 — 4,048 121 12/13/2013 2013 Santa Fe, NM (g) 2,243 4,619 — 6,862 239 12/13/2013 2013 Sedalia, MO (g) 466 2,318 — 2,784 122 12/13/2013 2013 St. John, MO (g) 1,546 2,601 — 4,147 136 12/13/2013 2013 Temple Hills, MD (g) 1,817 2,989 — 4,806 173 9/30/2013 2001 Vineland, NJ (g) 813 2,926 — 3,739 158 12/13/2013 2010 Waynesboro, VA (g) 986 2,708 — 3,694 142 12/13/2013 2013 West Monroe, LA (g) 1,738 2,136 — 3,874 113 12/13/2013 2013 Darien Towne Center: Darien, IL $ 12,200 6,718 11,951 900 19,569 892 12/17/2013 1994 DaVita: Riverview, MI (g) 199 2,322 — 2,521 95 9/4/2014 2012 Decatur Commons: Decatur, AL 7,000 2,478 9,333 470 12,281 621 7/10/2013 2004 Deltona Commons: Deltona, FL 4,767 1,424 7,760 — 9,184 512 6/18/2013 2007 Dick’s Sporting Goods: Oklahoma City (3rd), OK (g) 1,198 7,838 — 9,036 681 12/21/2012 2012 Oklahoma City, OK 5,858 685 10,587 — 11,272 897 12/31/2012 2012 Dollar General: Abbeville, AL (g) 294 1,302 — 1,596 43 10/3/2014 2014 Akron, AL (g) 69 771 — 840 50 8/6/2013 2013 Akron, OH (g) 112 1,099 — 1,211 66 11/1/2013 2013 Alliance, NE (g) 97 812 — 909 64 4/9/2013 2013 Alton, TX (g) 94 922 — 1,016 32 9/5/2014 2014 Arapahoe, NE (g) 44 873 — 917 31 9/5/2014 2014 Asheville, NC (g) 379 753 — 1,132 57 6/17/2013 2013 Ashville, AL 666 255 678 — 933 62 12/21/2012 2012 Atmore, AL (g) 243 858 — 1,101 43 2/25/2014 2014 Bainbridge, OH (g) 106 1,175 — 1,281 79 9/13/2013 2013 Belle, MO (g) 51 880 — 931 31 9/5/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Dollar General (continued): Berry, AL (g) $ 104 $ 1,196 $ — $ 1,300 $ 42 9/26/2014 2014 Bessemer, AL (g) 142 941 — 1,083 58 9/27/2013 2013 Bloomfield, NE (g) 50 845 — 895 24 12/16/2014 2014 Blue Rapids, KS (g) 52 880 — 932 29 10/22/2014 2014 Bluefield, WV (g) 337 686 — 1,023 22 10/15/2014 2014 Bokchito, OK (g) 59 859 — 918 72 2/27/2013 2013 Botkins, OH (g) 130 991 — 1,121 65 9/27/2013 2013 Brandon, SD (g) 292 871 — 1,163 29 10/31/2014 2014 Breaux Bridge, LA $ 840 225 1,007 — 1,232 85 11/30/2012 2012 Broken Bow, NE (g) 91 878 — 969 48 11/1/2013 2013 Brownsville, TX 822 264 943 — 1,207 75 11/30/2012 2012 Buffalo, NY (g) 122 1,099 — 1,221 30 12/5/2014 2014 Clay, AL 792 305 768 — 1,073 66 2/8/2013 2012 Cleveland, TX 684 158 856 — 1,014 68 11/30/2012 2012 Columbus, OH (g) 279 1,248 — 1,527 75 11/7/2013 2013 Conroe, TX 756 167 946 — 1,113 74 12/18/2012 2012 Crystal Springs, MS (g) 463 3,027 — 3,490 110 8/6/2014 2013 Cullman, AL (g) 159 824 — 983 31 8/4/2014 2014 Decatur, IL (Taylorville) (g) 133 986 — 1,119 40 6/18/2014 2014 Decatur, IL (Eldorado) (g) 219 964 — 1,183 33 9/8/2014 2014 Delcambre, LA (g) 169 1,025 — 1,194 63 9/27/2013 2013 Delhi, LA (g) 301 1,033 — 1,334 65 8/9/2013 2013 Deridder (Hwy 26), LA (g) 135 923 — 1,058 57 9/27/2013 2013 Deridder (Hwy 190), LA (g) 176 905 — 1,081 58 8/9/2013 2013 Des Moines, IA (g) 166 943 — 1,109 60 8/9/2013 2012 Dora, AL (g) 124 935 — 1,059 32 9/26/2014 2014 Dundee, MI (g) 296 1,047 — 1,343 57 11/26/2013 2013 Edinburg, TX (g) 146 809 — 955 32 7/31/2014 2014 Eight Mile, AL (g) 110 865 — 975 36 6/23/2014 2014 Elk Point, SD (g) 97 839 — 936 30 9/22/2014 2014 Ellerslie, GA (g) 247 797 — 1,044 37 4/17/2014 2014 Eufaula, AL (g) 300 930 — 1,230 37 7/22/2014 2014 Farmington, NM (g) 175 919 — 1,094 32 9/5/2014 2014 Fort Valley, GA (g) 514 2,436 — 2,950 172 7/9/2013 2013 Fred, TX (g) 93 929 — 1,022 51 12/19/2013 2013 Fruitport, MI (g) 100 968 — 1,068 38 6/25/2014 2014 Geneva, AL 738 204 815 — 1,019 74 12/21/2012 2012 Geraldine, AL (g) 220 1,146 — 1,366 51 5/30/2014 2014 Greenwell Springs, LA 870 444 841 — 1,285 72 11/30/2012 2012 Groveport, OH 822 416 813 — 1,229 66 3/15/2013 2013 Hamilton, AL (g) 208 1,024 — 1,232 33 10/16/2014 2014 Hanceville, AL 2,029 1,232 1,488 — 2,720 143 11/21/2012 2012 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Dollar General (continued): Harlingen, TX (g) $ 144 $ 853 $ — $ 997 $ 36 6/20/2014 2014 Harvest, AL $ 684 261 691 — 952 63 12/21/2012 2012 Harviell, MO (g) 50 818 — 868 40 3/31/2014 2014 Hastings, NE (g) 177 850 — 1,027 28 10/22/2014 2014 Hayneville, AL (g) 249 1,181 — 1,430 44 8/15/2014 2014 Hillsboro, OH (g) 262 956 — 1,218 32 9/25/2014 2014 Hinton, WV (g) 199 1,367 — 1,566 48 8/18/2014 2014 Homeworth, OH (g) 110 1,057 — 1,167 60 10/18/2013 2013 Houston, TX 966 311 1,102 — 1,413 86 12/18/2012 2012 Houston (Gears), TX (g) 255 1,393 — 1,648 79 10/18/2013 2013 Huntsville, AL 768 177 847 — 1,024 76 12/21/2012 2012 Independence, MO 828 170 1,072 — 1,242 88 12/18/2012 2012 Kansas City (Oak), MO (g) 283 1,068 — 1,351 63 10/18/2013 2013 Kansas City (Troost), MO (g) 233 1,054 — 1,287 60 11/1/2013 2013 Kasson, MN (g) 138 888 — 1,026 35 8/15/2014 2014 Kearney, NE (g) 141 851 — 992 49 11/20/2013 2013 Kinston, AL 642 170 718 — 888 66 12/21/2012 2012 Kolona, IA (g) 81 868 — 949 32 8/15/2014 2014 Lake Charles (Broad), LA (g) 146 989 — 1,135 63 8/9/2013 2013 Lamesa, TX (g) 75 803 — 878 32 7/31/2014 2014 Lansing, MI (g) 232 939 — 1,171 37 6/25/2014 2014 Lebanon, TN (g) 177 882 — 1,059 35 6/30/2014 2012 Leicester, NC (g) 134 800 — 934 56 6/17/2013 2013 Lima, OH 810 156 1,040 — 1,196 84 11/30/2012 2012 Linden, AL (g) 317 746 — 1,063 51 7/11/2013 2013 Lone Jack, MO (g) 152 960 — 1,112 42 5/16/2014 2014 Los Fresnos, TX (g) 55 867 — 922 30 9/19/2014 2014 Los Lunas, NM (g) 113 857 — 970 38 5/14/2014 2014 Louisburg, KS (g) 324 936 — 1,260 39 6/25/2014 2014 Loveland, OH (g) 241 1,065 — 1,306 63 12/12/2013 2013 Lubbock, TX 744 468 641 — 1,109 54 12/18/2012 2012 Manhattan, KS (g) 194 921 — 1,115 53 11/20/2013 2013 Mansfield, OH (g) 72 1,226 — 1,298 64 12/12/2013 2013 Maple Lake, MN (g) 92 893 — 985 31 10/10/2014 2014 Maynardville, TN 750 238 754 — 992 71 11/30/2012 2012 Millbrook, AL (g) 320 1,175 — 1,495 46 7/22/2014 2014 Mission, TX (g) 182 858 — 1,040 30 9/5/2014 2014 Mobile (Newman), AL (g) 139 1,005 — 1,144 60 10/18/2013 2013 Mobile (Schillinger), AL (g) 410 1,059 — 1,469 74 6/17/2013 2013 Monroeville, OH (g) 131 1,069 — 1,200 61 10/4/2013 2013 Montgomery, AL (g) 140 909 — 1,049 30 10/24/2014 2014 Moose Lake, MN (g) 140 937 — 1,077 33 10/10/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Dollar General (continued): Moroa, IL (g) $ 111 $ 921 $ — $ 1,032 $ 37 6/26/2014 2014 Mt. Vernon, IL (g) 177 985 — 1,162 42 5/30/2014 2014 Nashville, GA $ 2,088 215 2,533 — 2,748 203 3/1/2013 2013 Nashville, MI (g) 103 1,255 — 1,358 61 1/24/2014 2013 Navarre, OH (g) 153 1,005 — 1,158 59 9/27/2013 2013 Neoga, IL (g) 94 860 — 954 30 8/8/2014 2010 Ness City, KS (g) 21 860 — 881 42 3/20/2014 2014 New Philadelphia, OH (g) 129 1,100 — 1,229 65 9/27/2013 2013 New Washington, OH (g) 99 975 — 1,074 64 9/13/2013 2013 Newark, OH 792 222 946 — 1,168 77 3/15/2013 2013 Nitro, WV (g) 451 1,034 — 1,485 41 6/30/2014 2013 Nixa, MO (g) 235 806 — 1,041 38 4/3/2014 2014 North Lewisburg, OH (g) 59 1,008 — 1,067 61 11/22/2013 2013 Onawa, IA (g) 176 842 — 1,018 35 6/26/2014 2014 Opelousas, LA (g) 92 947 — 1,039 56 10/4/2013 2013 Ortonville, MN (g) 113 907 — 1,020 34 9/5/2014 2014 Osceola, NE (g) 194 835 — 1,029 16 4/2/2015 2014 Oxford, AL (g) 465 783 — 1,248 48 10/18/2013 2013 Palestine, IL (g) 155 893 — 1,048 36 6/26/2014 2014 Parchment, MI (g) 168 1,162 — 1,330 46 6/25/2014 2014 Park Hill, OK (g) 91 887 — 978 71 1/4/2013 2012 Parsons, TN (g) 166 1,136 — 1,302 46 7/16/2014 2013 Phenix City, AL (g) 331 718 — 1,049 50 6/17/2013 2013 Piedmont, AL 1,980 1,037 1,579 — 2,616 153 11/21/2012 2012 Pike Road, AL (g) 477 772 — 1,249 50 8/21/2013 2013 Plain City, OH (g) 187 1,097 — 1,284 60 11/26/2013 2013 Port Clinton, OH (g) 120 1,070 — 1,190 58 11/22/2013 2013 Princeton, MO (g) 155 1,159 — 1,314 38 10/10/2014 2014 Pueblo, CO (g) 144 909 — 1,053 69 1/4/2013 2012 Ragley, LA (g) 196 877 — 1,073 56 8/9/2013 2013 Rainsville, AL (g) 290 1,267 — 1,557 47 8/13/2014 2014 Ravenna, MI (g) 199 958 — 1,157 47 1/24/2014 2013 Rayne, LA 702 125 910 — 1,035 75 12/18/2012 2012 Roanoke, IL (g) 93 846 — 939 36 5/16/2014 2014 Romney, IN (g) 87 827 — 914 31 7/7/2014 2011 Romulus, MI (g) 274 1,171 — 1,445 54 3/7/2014 2013 Russell, KS (g) 54 899 — 953 34 8/5/2014 2014 San Antonio, TX (g) 295 743 — 1,038 32 7/31/2014 2014 San Carlos, TX (g) 70 1,063 — 1,133 44 6/20/2014 2014 Seale, AL (g) 259 767 — 1,026 46 10/28/2013 2013 Seminole, AL (g) 175 829 — 1,004 56 7/15/2013 2013 Shelby, MI (g) 128 1,033 — 1,161 51 1/24/2014 2013 Slocomb, AL (g) 124 918 — 1,042 47 2/25/2014 2014 Snead, AL (g) 126 1,137 — 1,263 40 9/26/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Dollar General (continued): South Bay, FL (g) $ 258 $ 1,262 $ — $ 1,520 $ 53 5/7/2014 2013 Spring, TX (g) 277 1,132 — 1,409 67 9/30/2013 2013 Springfield, IL (g) 205 934 — 1,139 31 9/17/2014 2014 Springfield, MO (g) 171 810 — 981 32 7/14/2014 2014 Springfield, NE (g) 172 864 — 1,036 38 5/12/2014 2014 Springfield, OH (g) 125 1,000 — 1,125 61 9/27/2013 2013 St. Louis, MO (Grand) (g) 240 1,118 — 1,358 59 1/15/2014 2013 St. Louis, MO (Lewis & Clark) (g) 229 1,102 — 1,331 60 12/31/2013 2013 Superior, NE (g) 230 917 — 1,147 52 11/26/2013 2013 Temple, GA (g) 200 917 — 1,117 65 5/15/2013 2013 Theodore, AL (g) 248 763 — 1,011 55 5/15/2013 2013 Thibodaux, LA (g) 211 1,083 — 1,294 66 9/27/2013 2013 Toney, AL $ 642 86 792 — 878 66 3/21/2013 2012 Topeka, KS (g) 159 873 — 1,032 21 2/25/2015 2014 Urbana, OH (g) 133 1,051 — 1,184 46 5/29/2014 2013 Volga, SD (g) 51 784 — 835 28 9/5/2014 2014 Waco, TX (g) 26 922 — 948 41 6/20/2014 2014 Wagener, SC (g) 477 1,169 — 1,646 39 9/16/2014 2014 Wakefield, KS (g) 78 929 — 1,007 58 9/30/2013 2013 Waterloo, IA (g) 330 908 — 1,238 27 11/5/2014 2014 Weslaco, TX (g) 141 848 — 989 30 9/5/2014 2014 Weston, MO (g) 117 1,012 — 1,129 67 7/17/2013 2013 Wetumpka, AL (g) 290 779 — 1,069 35 5/29/2014 2014 Whitehouse, OH (g) 134 1,144 — 1,278 65 10/18/2013 2013 Whitwell, TN 870 159 1,035 — 1,194 97 11/30/2012 2012 Wilmer, AL (g) 99 775 — 874 50 8/5/2013 2013 Winsted, MN (g) 152 841 — 993 32 9/29/2014 2014 Wisner, NE (g) 37 773 — 810 34 5/12/2014 2014 Woodville, OH 786 169 1,009 — 1,178 83 2/8/2013 2013 Yatesville, GA 666 120 797 — 917 67 3/25/2013 2013 Dollar Tree/Petco: Humble, TX (g) 720 2,543 — 3,263 200 2/11/2013 2011 Earth Fare: Huntersville, NC 3,183 1,439 2,973 — 4,412 239 2/28/2013 2011 East Manchester Village Center: Manchester, PA 8,300 2,517 12,672 202 15,391 720 12/19/2013 2009 East West Commons: Austell, GA (g) 10,094 16,034 — 26,128 659 9/30/2014 2002 Emerald Place: Greenwood, SC 6,250 2,042 9,942 — 11,984 677 6/28/2013 2012 Evergreen Marketplace: Evergreen Park, IL (g) 2,823 6,239 — 9,062 467 9/6/2013 2013 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Fairview Village: Cary, NC (g) $ 2,514 $ 3,557 $ 52 $ 6,123 $ 306 12/21/2012 2010 Family Center: Riverdale, UT (g) 21,716 29,454 (1,013 ) 50,157 1,701 2/28/2014 2008 Family Dollar: Aberdeen, ID (g) 101 1,054 — 1,155 34 10/24/2014 2014 Adelanto, GA (g) 463 1,711 — 2,174 50 11/14/2014 2014 Aguila, AZ (g) 129 1,290 — 1,419 29 2/13/2015 2014 Albany, GA (g) 347 925 — 1,272 28 11/7/2014 2014 Apple Springs, TX (g) 91 804 — 895 24 11/14/2014 2014 Arkadelphia, AR (g) 113 738 — 851 17 2/12/2015 2014 Auburn, ME (g) 217 1,261 — 1,478 27 4/15/2015 2014 Bagley, MN (g) 95 1,114 — 1,209 48 6/27/2014 2014 Benavides, TX (g) 27 1,065 — 1,092 57 2/26/2014 2013 Berry, AL (g) 122 880 — 1,002 27 11/14/2014 2014 Bessemer, AL (g) 201 1,043 — 1,244 57 12/27/2013 2013 Broadway, VA (g) 213 1,153 — 1,366 36 11/7/2014 2014 Birmingham, AL (g) 500 831 — 1,331 46 12/27/2013 2013 Brooksville, FL (g) 206 791 — 997 44 12/18/2013 2013 Burkeville, TX (g) 54 900 — 954 34 9/30/2014 2014 Cascade, ID (g) 267 1,147 — 1,414 54 2/4/2014 2013 Cass Lake, MN (g) 157 1,107 — 1,264 48 6/27/2014 2013 Cathedral City, CA (g) 658 1,908 — 2,566 65 9/19/2014 2014 Charlotte, TX (g) 118 970 — 1,088 52 2/26/2014 2014 Cheyenne, WY (g) 148 986 — 1,134 45 4/23/2014 2014 Coachella, CA (g) 450 1,634 — 2,084 80 2/19/2014 2013 Cocoa, FL (g) 370 1,092 — 1,462 37 9/26/2014 2014 Colmesneil, TX (g) 172 858 — 1,030 40 2/4/2014 2013 Columbia, SC (g) 294 824 — 1,118 27 10/24/2014 2014 Columbia, SC (g) 332 1,044 — 1,376 33 10/24/2014 2014 Comanche, TX (g) 176 1,145 — 1,321 42 8/6/2014 2014 Cordes Lakes, AZ (g) 380 1,421 — 1,801 47 9/19/2014 2014 Davenport, FL (g) 298 964 — 1,262 27 12/5/2014 2014 Davenport, IA (g) 167 918 — 1,085 28 11/25/2014 2014 Dawson, TX (g) 41 799 — 840 24 11/14/2014 2014 Deadwood, SD (g) 132 1,139 — 1,271 38 9/18/2014 2014 Des Moines, IA (g) 290 1,126 — 1,416 34 11/25/2014 2014 East Millinocket, ME (g) 161 1,004 — 1,165 27 2/26/2015 2014 Eden, TX (g) 82 903 — 985 46 2/26/2014 2013 Elizabethtown, NY (g) 107 671 — 778 33 1/31/2014 2008 Eloy, AZ (g) 86 1,587 — 1,673 49 10/24/2014 2014 Empire, CA (g) 239 1,527 — 1,766 62 6/27/2014 2014 Erwinville, LA (g) 146 765 — 911 10 7/7/2015 2015 Evans, CO (g) 201 817 — 1,018 27 9/29/2014 2014 Findlay, OH (g) 326 1,271 — 1,597 66 2/26/2014 2013 Folsom, LA (g) 325 788 — 1,113 27 9/30/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Family Dollar (continued): Ft. Lauderdale, FL (g) $ 443 $ 1,361 $ — $ 1,804 $ 71 12/18/2013 2013 Fort Thomas, AZ (g) 49 1,173 — 1,222 56 2/26/2014 2013 Fort Wayne, IN (g) 258 1,096 — 1,354 24 3/6/2015 2014 Fort Worth, TX (g) 532 1,346 — 1,878 46 9/5/2014 2014 Franklin, NH (g) 307 1,214 — 1,521 8 10/15/2015 2014 Frederica, DE (g) 392 1,164 — 1,556 24 3/6/2015 2014 Freeport, OH (g) 322 959 — 1,281 24 2/20/2015 2014 Fresno, CA (g) 488 1,553 — 2,041 77 2/19/2014 2013 Garrison, TX (g) 61 1,306 — 1,367 35 12/18/2014 2014 Georgetown, KY (g) 607 905 — 1,512 28 11/21/2014 2014 Gering, NE (g) 244 913 — 1,157 32 9/26/2014 2014 Greene, ME (g) 251 940 — 1,191 23 3/25/2015 2014 Greenwood, WI (g) 154 920 — 1,074 37 6/27/2014 2013 Harrisonburg, VA (g) 229 1,073 — 1,302 31 12/12/2014 2014 Hawkins, TX (g) 49 1,288 — 1,337 44 9/5/2014 2014 Hempstead, TX (g) 219 943 — 1,162 25 12/18/2014 2014 Hettinger, ND (g) 214 1,077 — 1,291 57 2/26/2014 2013 Hodgenville, KY (g) 202 783 — 985 27 9/19/2014 2014 Holtville, CA (g) 317 1,609 — 1,926 79 2/19/2014 2013 Homestead, FL (g) 575 1,470 — 2,045 2 12/9/2015 2014 Homosassa, FL (g) 325 1,001 — 1,326 28 12/12/2014 2014 Immokalee, FL (g) 458 1,248 — 1,706 39 11/4/2014 2014 Indianapolis, IN (g) 238 1,117 — 1,355 35 11/21/2014 2014 Indio, CA (g) 393 1,636 — 2,029 66 6/25/2014 2014 Irvington, AL (g) 217 814 — 1,031 45 12/27/2013 2013 Jacksonville, FL (g) 134 1,157 — 1,291 34 11/7/2014 2014 Jay, FL (g) 190 1,002 — 1,192 53 2/25/2014 2013 Jonesboro, GA (g) 297 1,098 — 1,395 55 2/14/2014 2013 Keller, TX (g) 749 1,550 — 2,299 70 4/14/2014 2014 Kersey, CO (g) 238 904 — 1,142 39 5/29/2014 2014 Kiowa, OK (g) 193 947 — 1,140 33 9/5/2014 2014 Kissimmee, FL (g) 622 1,226 — 1,848 45 8/27/2014 2014 La Salle, CO (g) 239 890 — 1,129 27 11/4/2014 2013 LaBelle, FL (g) 268 1,037 — 1,305 54 2/28/2014 2014 Lake Elsinor, CA (g) 417 1,682 — 2,099 79 3/3/2014 2013 Lakeland, FL (g) 353 937 — 1,290 39 6/30/2014 2014 Laredo, TX (g) 302 1,039 — 1,341 34 10/3/2014 2013 Levelland, TX (g) 264 952 — 1,216 33 9/30/2014 2014 Little Rock, CA (g) 499 1,730 — 2,229 40 2/19/2015 2014 Lorain, OH (g) 320 995 — 1,315 41 6/27/2014 2014 Louisville (Bank), KY (g) 578 919 — 1,497 45 3/26/2014 2013 Louisville (Cane), KY (g) 480 934 — 1,414 39 6/4/2014 2014 Mahanoy City, PA (g) 209 1,112 — 1,321 25 2/20/2015 2015 Mansfield, TX (g) 849 1,189 — 2,038 59 2/26/2014 2013 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Family Dollar (continued): Melbourne, FL (g) $ 362 $ 883 $ — $ 1,245 $ 44 2/28/2014 2014 Melrose, FL (g) 124 929 — 1,053 32 9/10/2014 2014 Mertzon, TX (g) 149 995 — 1,144 37 9/19/2014 2014 Mesa, AZ (g) 627 1,468 — 2,095 67 3/31/2014 2014 Miami, FL (g) 584 1,490 — 2,074 33 2/25/2015 2014 Milo, ME (g) 138 1,122 — 1,260 27 3/19/2015 2014 Monroe, UT (g) 272 985 — 1,257 32 10/24/2014 2013 Moore Haven, FL (g) 348 1,016 — 1,364 46 5/29/2014 2014 Moulton, TX (g) 102 973 — 1,075 52 2/26/2014 2014 Naubinway, MI (g) 47 1,180 — 1,227 55 2/4/2014 2013 New Ellenton, SC (g) 160 800 — 960 22 12/12/2014 2014 New Summerfield, TX (g) 230 851 — 1,081 35 6/6/2014 2014 Nicholasville, KY (g) 464 826 — 1,290 40 3/26/2014 2013 North Charleston, SC (g) 386 997 — 1,383 30 11/14/2014 2014 North Hampton, OH (g) 200 867 — 1,067 22 2/27/2015 2014 Ocoee, FL (g) 462 1,173 — 1,635 35 11/21/2014 2014 Omaha, NE (g) 86 1,427 — 1,513 30 3/2/2015 2014 Ordway, CO (g) 81 993 — 1,074 32 10/30/2014 2014 Oshkosh, WI (g) 361 815 — 1,176 41 2/25/2014 2013 Ossineke, MI (g) 85 898 — 983 40 3/14/2014 2014 Palmdale, CA (g) 372 1,822 — 2,194 38 3/30/2015 2014 Penitas, TX (g) 182 1,053 — 1,235 50 3/26/2014 2014 Pensacola, FL (g) 509 791 — 1,300 39 3/27/2014 2014 Pine Lake, GA (g) 639 897 — 1,536 34 8/26/2014 2014 Pittsfield, ME (g) 334 1,258 — 1,592 14 8/12/2015 2014 Plainview, NE (g) 112 774 — 886 36 4/25/2014 2014 Poinciana, FL (g) 501 1,186 — 1,687 41 9/19/2014 2014 Pojoaque, NM (g) 545 909 — 1,454 33 8/25/2014 2013 Posen, MI (g) 101 896 — 997 40 3/14/2014 2014 Preston, MN (g) 161 1,159 — 1,320 50 6/27/2014 2014 Punta Gorda, FL (g) 345 1,018 — 1,363 1 12/17/2015 2014 Radium Springs, NM (g) 129 1,086 — 1,215 54 2/26/2014 2013 Ramah, NM (g) 217 1,105 — 1,322 52 2/4/2014 2013 Rex, GA (g) 294 1,393 — 1,687 41 11/7/2014 2014 Richmond, ME (g) 252 1,026 — 1,278 25 3/25/2015 2014 Riverside, CA (g) 736 1,558 — 2,294 70 4/4/2014 2014 Robert Lee, TX (g) 94 904 — 998 45 2/26/2014 2014 Rushford, MN (g) 163 844 — 1,007 38 6/27/2014 2014 Saginaw, MI (g) 240 956 — 1,196 31 10/30/2014 2014 San Antonio, TX (g) 357 966 — 1,323 36 9/30/2014 2014 San Antonio, TX (g) 421 951 — 1,372 31 11/14/2014 2014 San Jacinto, CA (g) 430 1,682 — 2,112 64 7/18/2014 2014 Schuyler, NE (g) 260 708 — 968 32 5/5/2014 2014 Shreveport, LA (g) 406 978 — 1,384 43 5/29/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Family Dollar (continued): Shreveport, LA (g) $ 272 $ 1,113 $ — $ 1,385 $ 43 7/22/2014 2014 Shreveport, LA (g) 423 1,099 — 1,522 35 10/8/2014 2014 South Paris, ME (g) 173 1,240 — 1,413 33 2/25/2015 2014 Spring Hill, FL (g) 278 1,249 — 1,527 1 12/4/2015 2014 Spurger, TX (g) 86 905 — 991 32 9/18/2014 2014 Statesboro, GA (g) 347 800 — 1,147 41 2/14/2014 2013 Sterling City, TX (g) 78 889 — 967 45 2/26/2014 2013 Stockton, CA (g) 202 1,817 — 2,019 61 9/19/2014 2014 Summerfield, FL (g) 271 978 — 1,249 27 12/12/2014 2014 Tallahassee, FL (g) 189 1,212 — 1,401 36 11/21/2014 2014 Taft, CA (g) 255 1,422 — 1,677 88 8/23/2013 2013 Tampa (Cragmont), FL (g) 563 737 — 1,300 41 12/18/2013 2013 Tampa (Forest), FL (g) 482 920 — 1,402 50 12/18/2013 2013 Tampa (Hunt), FL (g) 568 1,137 — 1,705 46 7/2/2014 2014 Terra Bella, CA (g) 332 1,394 — 1,726 69 2/19/2014 2013 Topeka, KS (g) 419 1,327 — 1,746 60 4/17/2014 2014 Tucson, AZ (g) 399 1,599 — 1,998 40 1/27/2015 2014 Tyler, MN (g) 73 895 — 968 40 6/27/2014 2014 Tuscaloosa, AL (g) 534 817 — 1,351 46 12/27/2013 2013 Valdosta, GA (g) 424 849 — 1,273 43 2/26/2014 2014 Vine Grove, KY (g) 205 966 — 1,171 23 2/13/2015 2014 Waelder, TX (g) 136 788 — 924 33 6/4/2014 2014 Walker, LA (g) 294 966 — 1,260 33 9/30/2014 2014 Wayne, OK (g) 37 937 — 974 39 6/27/2014 2014 Waynesburg, KY (g) 150 955 — 1,105 31 10/10/2014 2014 Wild Rose, WI (g) 133 866 — 999 35 6/27/2014 2013 Fargo Plaza: Fargo, ND (g) 2,097 4,774 376 7,247 429 5/30/2013 2003 Fleet Pride: Birmingham, AL (g) 376 2,607 — 2,983 35 8/3/2015 2014 Flower Foods: Orlando, FL (g) 418 387 — 805 13 9/11/2014 2013 Waldorf, MD (g) 398 1,045 — 1,443 40 9/11/2014 2013 Food 4 Less: Atwater, CA (g) 1,383 5,271 — 6,654 319 11/27/2013 2002 Fourth Creek Landing: Statesville, NC $ 5,700 1,375 7,795 — 9,170 744 3/26/2013 2012 Fresenius Medical Care: West Plains, MI (g) 557 3,097 — 3,654 117 7/2/2014 2014 Fresh Market Center: Glen Ellyn, IL — 2,767 6,403 48 9,218 231 9/30/2014 2014 Fresh Thyme: Indianapolis, IN (g) 1,087 6,019 — 7,106 212 10/31/2014 2014 Northville, MI (g) 1,598 7,796 — 9,394 9 12/21/2015 2015 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Fresh Thyme & DSW: Fort Wayne, IN $ — $ 1,740 $ 4,153 $ 101 $ 5,994 $ 154 9/30/2014 1985 Gander Mountain: Pensacola, FL (g) 2,152 3,831 — 5,983 178 4/29/2014 2014 Waukesha, WI (g) 3,408 12,918 — 16,326 422 9/29/2014 2007 Giant Eagle: Seven Fields, PA 7,530 1,574 13,659 — 15,233 575 5/7/2014 2005 Gold's Gym: Corpus Christi, TX (g) 1,498 6,346 — 7,844 480 3/6/2013 2006 Golden Corral: Garland, TX (g) 1,255 2,435 — 3,690 217 9/21/2012 2012 Georgetown, KY (g) 1,048 1,452 (1,217 ) 1,283 — 6/11/2014 2004 Houston, TX (g) 1,375 2,350 — 3,725 195 12/12/2012 2012 Victoria, TX (g) 673 2,857 — 3,530 112 6/27/2014 2013 Goodyear: Pooler, GA (g) 569 1,484 — 2,053 109 6/18/2013 2008 Hancock Village: Chesterfield, VA 15,000 8,874 17,287 96 26,257 1,443 5/23/2013 2009 Harbor Town Center: Manitowoc, WI (g) 3,568 13,209 — 16,777 296 4/24/2015 2005 Haverty Furniture: Midland, TX (g) 709 1,294 — 2,003 124 8/7/2013 2012 HEB Center: Waxahachie, TX 7,000 3,465 7,952 287 11,704 763 6/27/2012 1997 Hickory Flat Commons: Canton, GA 9,850 4,482 13,174 9 17,665 1,151 12/18/2012 2008 Hobby Lobby: Burlington, IA (g) 629 1,890 — 2,519 23 7/30/2015 1988 Dickson City, PA — 1,113 7,946 — 9,059 470 6/30/2014 2013 Lewisville, TX (g) 2,184 8,977 — 11,161 524 11/26/2013 2013 Mooresville, NC (g) 869 4,249 — 5,118 463 11/30/2012 2012 Home Depot: Lincoln, NE (g) 6,339 5,937 — 12,276 33 10/22/2015 1993 North Canton, OH 7,234 2,203 12,012 — 14,215 986 12/20/2012 1998 Plainwell, MI (g) 521 11,905 — 12,426 796 5/16/2013 2002 IHOP: Anderson, IN (g) 54 1,633 — 1,687 64 6/30/2014 2005 Columbus, OH (g) 408 1,783 — 2,191 69 6/30/2014 2012 Columbus, OH (g) 315 1,864 — 2,179 72 6/30/2014 2011 Lancaster, OH (g) 157 1,497 — 1,654 58 6/30/2014 2009 Rio Rancho, NM (g) 599 2,314 — 2,913 104 3/28/2014 2011 Richmond, IN (g) 106 1,428 — 1,534 56 6/30/2014 2007 Inglewood Plaza: Inglewood, CA 12,700 9,880 14,099 — 23,979 493 9/12/2014 2008 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2015 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Kirklands: Dothan, AL (g) $ 486 $ 946 $ — $ 1,432 $ 46 8/5/2014 2014 Jonesboro, AR (g) 696 1,990 — 2,686 155 11/27/2012 2012 Kohl’s: Cedar Falls, IA (g) 1,600 5,796 — 7,396 478 12/7/2012 2001 Chartlottesville, VA $ 8,745 3,929 12,280 — 16,209 465 7/28/2014 2011 Easton, MD (g) 2,962 2,661 — 5,623 3 12/2/2015 1992 Hutchinson, KS (g) 3,290 — — 3,290 — 10/19/2012 (f) Kroger: Shelton, WA (g) 1,180 11,040 — 12,220 548 4/30/2014 1994 Whitehall, OH 4,066 581 6,628 — 7,209 388 12/16/2013 1994 Kum & Go: Bentonville (Central), AR (g) 916 1,864 — 2,780 129 5/3/2013 2011 Conway, AR (g) 510 2,577 — 3,087 101 6/13/2014 2014 Fairfield, IA (g) 422 1,913 — 2,335 133 5/3/2013 2011 Mount Vernon, MO (g) 708 1,756 — 2,464 122 5/3/2013 2010 Urbandale, IA (g) 722 1,658 — 2,380 116 5/3/2013 2010 L.A. Fitness: Bloomfield Township, MI (g) 2,287 10,075 — 12,362 722 6/21/2013 2008 Columbus, OH (g) 1,013 6,734 — 7,747 131 4/29/2015 2014 Garland, TX (g) 2,005 6,861 — 8,866 367 12/20/2013 2013 Houston, TX (g) 5,764 5

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting	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 consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the Consolidated Joint Venture in which the Company has a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations. 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 these VIEs based on standards set forth in GAAP as described above. As of December 31, 2015 , the Company determined that it had a controlling interest in the Consolidated Joint Venture and therefore met the GAAP requirements for consolidation. As of December 31, 2015 and December 31, 2014 , the Company was not required to consolidate the Unconsolidated Joint Venture as the applicable joint venture entity did not qualify as a VIE and the Company did not meet the control requirement for consolidation.
Reclassifications	Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company has chosen to break out the details of (i) real estate tax expenses from property operating expenses in the Company’s consolidated statements of operations and (ii) straight-line rental income in the Company’s consolidated statements of cash flows. The Company has also chosen to combine the depreciation of $54.8 million and $21.6 million for the years ended December 31, 2014 and 2013, respectively, and amortization of $29.6 million and $11.7 million for the years ended December 31, 2014 and 2013, respectively, into the line item depreciation and amortization in the consolidated statements of operations. The unrealized loss on interest rate swaps line item from the prior years has been disaggregated within the consolidated statements of other comprehensive income (loss) into the captions unrealized loss on interest rate swaps and amount of loss reclassified from other comprehensive loss into income as interest expense. Further, the Company has modified the presentation of debt issuance costs related to a recognized debt liability to be presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability (specifically relating to mortgage notes payable and the term portion of the credit facility), rather than presenting the costs as an asset, for all periods presented. As such, the corresponding prior period amounts have also been broken out into separate line items to conform to the current financial statement presentation. The Company has also reclassified certain accounts, as shown below, in its previously issued consolidated balance sheet to conform to the current period presentation. Investments in real estate assets have been presented gross, with the related depreciation and amortization amounts subtracted out to arrive at the net real estate investments balance. None of the revised reclassifications reflect corrections of any amounts.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Real Estate Investments, Recoverability of Real Estate Assets, and Assets Held for Sale	Real Estate Investments Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition-related expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All repairs and maintenance are expensed as incurred. 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 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, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. The Company recorded impairment charges of $1.4 million related to one property during the year ended December 31, 2015 . 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 Acquisitions for further discussion regarding real estate investment activity. No impairment indicators were identified and no impairment losses were recorded during the years ended December 31, 2014 or 2013 . Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and estimate the 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 would be recorded to reflect the estimated fair value of the property, net of selling costs.
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 identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition-related expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above- and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, the remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above- or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include commissions and other direct costs and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company 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 (the “Contingent Payments”). 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. Contingent consideration arrangements, including amounts funded through an escrow account, are recorded upon acquisition of the respective property at their estimated fair values, and any changes to the estimated fair values, subsequent to acquisition, are reflected in the accompanying consolidated statements of operations. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable 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.
Development Activities	Development Activities Project costs and expenses, including interest incurred, associated with the development, construction and lease-up of a real estate project are capitalized as construction in progress. Once the development and construction of the building is substantially completed, the amounts capitalized to construction in progress are transferred to (i) land and (ii) buildings, fixtures and improvements and are depreciated over their respective useful lives.
Noncontrolling Interest-Redeemable Interest in Consolidated Joint Venture	Noncontrolling Interest-Redeemable Interest in Consolidated Joint Venture On June 27, 2014 , the Company completed the formation of the Consolidated Joint Venture. Pursuant to the joint venture agreement, the joint venture partner has a right to exercise an option after two years whereby the Company will be required to purchase the ownership interest of the joint venture partner at fair market value. The Company determined it had a controlling interest in the Consolidated Joint Venture and, therefore, met the GAAP requirements for consolidation.
Investment in Unconsolidated Joint Venture	Investment in Unconsolidated Joint Venture The Company accounts for the Unconsolidated Joint Venture using the equity method of accounting as the Company has the ability to exercise significant influence, but not control, over operating and financial policies of this investment. The equity method of accounting requires the investment to be initially recorded at cost and subsequently adjusted for the Company’s share of equity in the Unconsolidated Joint Venture’s earnings and distributions. The Company is required to determine whether an event or change in circumstances has occurred that may have a significant adverse effect on the fair value of its investment in the Unconsolidated Joint Venture. If an event or change in circumstance has occurred, the Company is required to evaluate the Unconsolidated Joint Venture for potential impairment and determine if the carrying amount of its investment exceeds its fair value. An impairment charge is recorded when an impairment is deemed to be other-than-temporary. To determine whether an impairment is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until the carrying amount is fully recovered. The evaluation of an investment in an Unconsolidated Joint Venture for potential impairment requires the Company’s management to exercise significant judgment and to make certain assumptions. The use of different judgments and assumptions could result in different conclusions.
Restricted Cash	Restricted Cash The Company had $8.3 million and $4.6 million in restricted cash as of December 31, 2015 and 2014 , respectively. Included in restricted cash was $5.9 million and $2.7 million held by lenders in lockbox accounts, as of December 31, 2015 and 2014 , 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 $2.4 million and $1.9 million held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the respective lender’s loan agreement as of December 31, 2015 and 2014 , respectively.
Cash Concentrations	Cash Concentrations As of December 31, 2015 , the Company had cash on deposit, including restricted cash, at 11 financial institutions, five of which had Company deposits in excess of federally insured levels totaling $30.9 million ; however, the Company has not experienced any losses in such accounts. The Company limits significant cash deposits to accounts held by financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits.
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 effective interest method. Unamortized deferred financing costs are written off when the associated debt was refinanced or repaid before maturity. As discussed in “Reclassifications” and “Recent Accounting Pronouncements” in this note, the Company historically presented the costs as an asset for the respective financing agreements. Pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-03, the presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, has been reclassified such that the debt issuance costs related to a recognized debt liability is presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. However, the Company has not reclassified the presentation of deferred financing costs related to the revolving loan portion of the credit facility as, pursuant to FASB ASU 2015-15, debt issuance costs related to securing a revolving line of credit may be presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred financing costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2015 and 2014 , the Company had $4.1 million and $5.2 million , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined the financing will not close.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded as other comprehensive income (loss). The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations.
Redeemable Common Stock	Redeemable Common Stock Under the Company’s 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 DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the 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.
Revenue Recognition	Revenue Recognition Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis. 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. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred. The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the allowance for uncollectible accounts or record a direct write-off of the receivable in the consolidated statements of operations and comprehensive income (loss).
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 Internal Revenue Code of 1986, as amended, 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) Per Share	Earnings (Loss) Per Share Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented.
Reportable Segments	Reportable Segment The Company’s commercial real estate investments consist primarily of income-producing necessity retail properties that are single-tenant or multi-tenant “power centers,” which are leased to creditworthy tenants under long-term net leases. The properties are geographically diversified throughout the United States and have similar economic characteristics. The Company’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Effective December 31, 2015, the Company early adopted the accounting and reporting requirements of ASU No. 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation and Subsequent Measurement of Debt Issuance Costs (“ASU 2015-03”) and ASU No. 2015-15, Interest — Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”), included in the FASB Accounting Standards Codification (“ASC”) for balance sheet classification of debt issuance costs requiring debt issuance costs to be presented as an offset to the related debt. The Company has applied these requirements retrospectively. Accordingly, the Company has offset $7.7 million of previously reported debt issuance costs included in other assets with the previously reported notes payable and credit facility, net balance of $1.5 billion in the Company’s December 31, 2014 consolidated balance sheet. The adoption of these accounting and reporting requirements had no impact on the Company’s consolidated statements of operations or consolidated statements of cash flows. ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”) — The evaluation of limited partnerships or similar entities as VIEs was modified. The revised requirements may affect the method of consolidation for reporting entities involved with such entities. Additional disclosure is required for entities not previously included in the reporting entity as a VIE. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. Application of the revised standards may follow the retrospective approach or a modified retrospective approach. The Company has evaluated the effect of ASU 2015-02 and noted that there will not be an impact to the Company’s consolidated financial statements, except certain expanded disclosures will be required. 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. The Company is currently evaluating the effect that certain of these new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements: ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) - The requirements were amended to remove inconsistencies in revenue requirements and to provide a more complete framework for addressing revenue issues across a broad range of industries and transaction types. The revised standard’s core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. These provisions are effective January 1, 2018, and are to be applied retrospectively, with early adoption permitted for periods beginning after December 15, 2016 and interim periods thereafter. ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”) - The amendments in this update eliminate the requirement that an acquirer in a business combination retrospectively account for measurement-period adjustments. Measurement-period adjustments should be recognized during the period in which the adjustment amount is determined, including any earnings impact that the acquirer would have recorded in prior periods if the accounting was completed at the acquisition date. These provisions are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, with early adoption permitted. ASU No. 2016-01, Financial Instruments (Subtopic 825-10) - The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income (loss), the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the consolidated balance sheets or the accompanying notes to the financial statements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. On February 25, 2016, the FASB issued Accounting Standards Codification (“ASC”) 842 (“ASC 842”), Leases , which replaces the existing guidance in ASC 840, Leases . ASC 842 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. ASC 842 requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. For finance leases, the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Previously Reported Balances and Reclassified Balances	The following table presents the previously reported balances and the reclassified balances for the impacted line items of the December 31, 2014 consolidated balance sheet (in thousands): December 31, 2014 As Previously Reported Investment in real estate assets: Land $ 972,983 Buildings and improvements, less accumulated depreciation of $78,186 2,539,770 Intangible lease assets, less accumulated amortization of $48,085 391,917 Total investment in real estate assets, net $ 3,904,670 December 31, 2014 As Reclassified Investment in real estate assets: Land $ 972,983 Buildings, fixtures and improvements 2,617,956 Intangible lease assets 440,002 Total real estate investments, at cost 4,030,941 Less: accumulated depreciation and amortization (126,271 ) Total real estate investments, net $ 3,904,670
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 Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured 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, 2015 and 2014 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Interest rate swaps $ 519 $ — $ 519 $ — Total assets $ 519 $ — $ 519 $ — Liabilities: Interest rate swaps $ (5,878 ) $ — $ (5,878 ) $ — Contingent consideration (4,538 ) — — (4,538 ) Total liabilities $ (10,416 ) $ — $ (5,878 ) $ (4,538 ) Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Interest rate swaps $ (4,057 ) $ — $ (4,057 ) $ — Contingent consideration (3,405 ) — — (3,405 ) Total liabilities $ (7,462 ) $ — $ (4,057 ) $ (3,405 )
Reconciliations of the Changes in Liabilities with Level 3 Inputs	The following are reconciliations of the changes in liabilities with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2015 and 2014 (in thousands): Contingent Consideration Arrangements Beginning Balance, December 31, 2014 $ (3,405 ) Purchases and fair value adjustments: Purchases (2,880 ) Fair value adjustments 1,747 Ending Balance, December 31, 2015 $ (4,538 ) Contingent Consideration Arrangements Beginning Balance, December 31, 2013 $ (784 ) Purchases, fair value adjustments and payments made: Purchases (5,342 ) Fair value adjustments 70 Payments made 2,651 Ending Balance, December 31, 2014 $ (3,405 )
Summary of Impairment Charges by Asset Class	The following table presents the impairment charges by asset class recorded during the year ended December 31, 2015 (dollar amounts in thousands): Year Ended December 31, 2015 Asset class impaired: Land $ 498 Buildings, fixtures and improvements 662 Intangible lease assets 280 Total impairment loss $ 1,440

Real Estate Acquisitions (Table

Real Estate Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the purchase price allocation (in thousands): December 31, 2013 Land $ 390,781 Building and improvements 1,103,390 Acquired in-place leases 175,520 Acquired above-market leases 26,921 Acquired below-market leases (31,802 ) Total purchase price $ 1,664,810 The following table summarizes the purchase price allocation for acquisitions purchased during the year ended December 31, 2015 (in thousands): December 31, 2015 Land $ 138,536 Buildings, fixtures and improvements 393,918 Acquired in-place leases 83,043 Acquired above-market leases 6,485 Intangible lease liabilities (5,883 ) Fair value adjustment of assumed note payable (253 ) Total purchase price $ 615,846 The following table summarizes the purchase price allocation (in thousands): December 31, 2014 Land $ 437,206 Buildings, fixtures and improvements 1,152,148 Acquired in-place leases 154,972 Acquired above-market leases 23,430 Intangible lease liabilities (24,620 ) Fair value adjustment of assumed note payable (765 ) Total purchase price $ 1,742,371
Business Acquisition, Pro Forma Information	The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the years ended December 31, 2013 and 2012 (in thousands): Year Ended December 31, 2013 2012 Pro forma basis (unaudited): Revenue $ 181,859 $ 147,515 Net income (loss) $ 44,490 $ (30,842 ) The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the years ended December 31, 2014 and 2013 (in thousands): Year Ended December 31, 2014 2013 Pro forma basis (unaudited): Revenue $ 332,860 $ 245,969 Net income (loss) $ 131,001 $ (53,805 ) The table below presents the Company’s estimated revenue and net income , on a pro forma basis, for the years ended December 31, 2015 and 2014 (in thousands): Year Ended December 31, 2015 2014 Pro forma basis (unaudited): Revenue $ 387,921 $ 305,141 Net income $ 79,888 $ 8,267

Intangible Lease Assets (Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-lived Intangible Assets	The intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2015 2014 In-place leases, net of accumulated amortization of $81,856 and $41,739, respectively (with a weighted average life remaining of 11.7 years and 12.4 years, respectively) $ 391,868 $ 344,664 Acquired above-market leases, net of accumulated amortization of $12,454 and $6,346, respectively (with a weighted average life remaining of 10.1 years and 10.5 years, respectively) 47,299 47,253 $ 439,167 $ 391,917
Schedule of Finite-lived Intangible Assets, Future Amortization Expense	Estimated amortization expense related to the intangible lease assets as of December 31, 2015 for each of the five succeeding fiscal years is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases Above-Market Leases 2016 $ 41,569 $ 6,220 2017 $ 38,776 $ 5,903 2018 $ 36,121 $ 5,022 2019 $ 32,504 $ 4,083 2020 $ 30,824 $ 3,839

Derivative Instruments and He31

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2015 and 2014 (in thousands): Outstanding Notional Fair Value Assets and (Liabilities) Balance Sheet Amount as of Interest Effective Maturity December 31, December 31, Location December 31, 2015 Rates (1) Dates Dates 2015 2014 Interest Rate Swaps Prepaid expenses, property escrow deposits, derivative assets and other assets $ 330,766 2.78% to 3.59% 6/30/2015 to 10/15/2015 8/15/2018 to 11/06/2020 $ 519 $ — Interest Rate Swaps Deferred rental income, derivative liabilities and other liabilities $ 588,737 3.00% to 4.75% 6/24/2013 to 12/31/2015 6/24/2018 to 8/24/2020 $ (5,878 ) $ (4,057 ) ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2015.

Notes Payable And Credit Faci32

Notes Payable And Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the debt balances as of December 31, 2015 and 2014 , and the debt activity for the year ended December 31, 2015 (in thousands): During the Year Ended December 31, 2015 Balance as of December 31, 2014 Debt Issuances and Assumptions (1) Repayments Accretion and (Amortization) Balance as of December 31, 2015 Fixed rate debt $ 565,836 $ 346,180 $ (15,388 ) $ — $ 896,628 Variable rate debt — 53,500 — — 53,500 Credit facility 900,000 833,666 (606,000 ) — 1,127,666 Total debt 1,465,836 1,233,346 (621,388 ) — 2,077,794 Net premiums (2) 671 — — (81 ) 590 Deferred costs (3) (7,679 ) (6,473 ) — 2,331 (11,821 ) Total debt, net $ 1,458,828 $ 1,226,873 $ (621,388 ) $ 2,250 $ 2,066,563 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) 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. (3) Deferred costs relate to mortgage notes payable and the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies.
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2015 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2016 $ 425 2017 491,451 2018 693,877 2019 499 2020 333,215 Thereafter 558,327 Total $ 2,077,794

Intangible Lease Liabilities (T

Intangible Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Intangible Liabilities Disclosure [Abstract]
Schedule of Finite-lived Intangible Liabilities	lease liabilities consisted of the following (in thousands, except weighted average life amounts): As of December 31, 2015 2014 Acquired below-market leases, net of accumulated amortization of $15,641 and $8,807, respectively (with a weighted average life remaining of 8.8 years and 9.2 years, respectively) $ 53,822 $ 55,535
Schedule of Finite-lived Intangible Assets, Future Amortization Expense	Estimated amortization of the intangible lease liabilities as of December 31, 2015 for each of the five succeeding fiscal years is as follows (in thousands): Year Ending December 31, Amortization of Below-Market Leases 2016 $ 7,731 2017 $ 7,417 2018 $ 7,040 2019 $ 6,164 2020 $ 5,530

Supplemental Cash Flow Disclo34

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow disclosures for the years ended December 31, 2015 , 2014 and 2013 are as follows (in thousands): Year Ended December 31, 2015 2014 2013 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 16,568 $ 16,189 $ 10,569 Accrued other offering costs due to affiliates $ — $ — $ 4,937 Accrued capital expenditures $ 2,741 $ 7,721 $ 1,760 Common stock issued through distribution reinvestment plan $ 112,158 $ 104,261 $ 25,702 Change in fair value of interest rate swaps $ (1,302 ) $ (1,805 ) $ (2,252 ) Contingent consideration recorded upon property acquisitions $ 2,880 $ 5,342 $ 553 Fair value of notes payable assumed in real estate acquisition $ 15,233 $ 25,979 $ — Supplemental Cash Flow Disclosures: Interest paid $ 54,388 $ 31,159 $ 17,474

Related-Party Transactions an35

Related-Party Transactions and Arrangements - (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided by CR IV Advisors or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2015 2014 2013 Offering: Selling commissions $ — $ 55,921 $ 122,082 Selling commissions reallowed by CCC $ — $ 55,921 $ 122,082 Dealer manager fees $ — $ 16,780 $ 35,685 Dealer manager fees reallowed by CCC $ — $ 9,326 $ 20,183 Other offering costs $ — $ 7,277 $ 36,179 The Company recorded fees and expense reimbursements as shown in the table below for services provided by CR IV Advisors or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2015 2014 2013 Acquisition and Operations: Acquisition fees and expenses $ 13,311 $ 38,483 $ 35,109 Advisory fees and expenses $ 36,225 $ 24,152 $ 10,549 Operating expenses $ 4,568 $ 3,383 $ 2,905

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 , 2014 and 2013 : Year Ended December 31, 2015 2014 2013 Ordinary dividends 58 % 47 % 60 % Nontaxable distributions 42 % 53 % 40 % Total 100 % 100 % 100 %

Operating Leases Operating Leas

Operating Leases Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2015 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2016 $ 334,619 2017 330,130 2018 320,445 2019 304,506 2020 295,446 Thereafter 2,238,323 $ 3,823,469

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 and 2014 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods presented includes all adjustments which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period. December 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 85,963 $ 90,528 $ 94,188 $ 97,052 Acquisition-related expenses $ 5,385 $ 3,882 $ 2,518 $ 3,741 Operating income $ 28,395 $ 31,862 $ 34,696 $ 29,247 Net income $ 15,998 $ 17,293 $ 18,485 $ 13,117 Net income attributable to the Company $ 16,015 $ 17,225 $ 18,452 $ 13,079 Basic and diluted net income per common share (1) $ 0.05 $ 0.06 $ 0.06 $ 0.04 Distributions declared per common share (1) $ 0.15 $ 0.16 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income per share and distributions declared 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, 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 51,551 $ 56,861 $ 64,591 $ 83,279 Acquisition-related expenses $ 8,633 $ 10,113 $ 21,009 $ 12,008 Operating income $ 10,564 $ 10,790 $ 3,698 $ 20,378 Net income (loss) $ 2,946 $ 3,190 $ (4,147 ) $ 9,181 Net income (loss) attributable to the Company $ 2,946 $ 3,204 $ (4,156 ) $ 9,196 Basic and diluted net income (loss) per common share (1) $ 0.01 $ 0.01 $ (0.01 ) $ 0.03 Distributions declared per common share (1) $ 0.15 $ 0.16 $ 0.16 $ 0.16 ____________________________________ (1) The Company calculates net income (loss) per share and distributions declared 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)	Feb. 18, 2014USD ($)$ / sharesshares	Nov. 25, 2013USD ($)	Dec. 31, 2015USD ($)ft²statesproperty$ / sharesshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Apr. 04, 2014shares	Dec. 31, 2015USD ($)ft²statesproperty$ / sharesshares	Aug. 31, 2015$ / shares	Dec. 19, 2013shares	Jan. 26, 2012USD ($)
Organization and business [Line Items]
Common stock, shares authorized (shares)			490,000,000	490,000,000	490,000,000		490,000,000
Share price (USD per share) | $ / shares	$ 10		$ 10				$ 10	$ 9.70
Common stock shares registered dividend reinvestment plan (shares)			26,000,000	26,000,000			26,000,000
Issuance of common stock | $			$ 112,158,000	$ 941,930,000	$ 1,807,820,000
Number of owned properties (property) | property			871				871
Rentable commercial space (sqft) | ft²			25,200,000				25,200,000
Number of states in which entity owns properties (state) | states			45				45
Percentage of rentable space leased			98.50%				98.50%
Distribution reinvestment plan
Organization and business [Line Items]
Share price (USD per share) | $ / shares								$ 9.70
Common stock shares registered dividend reinvestment plan (shares)									26,000,000
Shares issued pursuant to a distribution reinvestment plan (in shares)			11,700,000	11,000,000	2,700,000
IPO
Organization and business [Line Items]
Common stock, shares issued | $										$ 2,975,000,000
Issuance of common stock (shares)						297,400,000	317,900,000
Unsold shares deregistered (shares)						404,000
Issuance of common stock | $							$ 3,200,000,000
Offering costs, selling commissions, and dealer management fees | $							$ 306,000,000
IPO | Distribution reinvestment plan
Organization and business [Line Items]
Common stock, shares authorized (shares)	5,500,000
Share price (USD per share) | $ / shares	$ 9.50
Common stock, sold (shares)						5,100,000
IPO | Primary offering
Organization and business [Line Items]
Common stock, sold (shares)						292,300,000
IPO | Maximum
Organization and business [Line Items]
Common stock, shares authorized (shares)	292,300,000
IPO | Maximum | Distribution reinvestment plan
Organization and business [Line Items]
Common stock, shares authorized value reallocated | $	$ 23,000,000	$ 400,000,000
IPO And Secondary Offering | Distribution reinvestment plan
Organization and business [Line Items]
Shares issued pursuant to a distribution reinvestment plan (in shares)							20,600,000
CCPT IV OP
Organization and business [Line Items]
General partner partnership interest percentage			100.00%
Unconsolidated joint venture
Organization and business [Line Items]
Number of owned properties (property) | property			1				1
Rentable commercial space (sqft) | ft²			176,000				176,000

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Narrative (Details)		12 Months Ended
		Dec. 31, 2015USD ($)segmentpropertyshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares
Valuation of real estate and related assets [Line Items]
Depreciation			$ 54,800,000	$ 21,600,000
Amortization			29,600,000	11,700,000
Impairment		$ 1,400,000	0	0
Impairment of real estate, number of properties (property) | property		1
Real estate held-for-sale		$ 0	0
Interest costs capitalized		1,500,000	0
Net income (loss) allocated to noncontrolling interest		122,000	(20,000)	0
Contributions from noncontrolling interests		762,000	2,142,000	0
Payments to noncontrolling interests		269,000	46,000	$ 0
Equity attributable to noncontrolling interest		2,700,000	2,100,000
Restricted cash		8,274,000	4,560,000
Deferred costs, net		4,095,000	5,245,000
Due to affiliates		5,613,000	5,473,000
Allowance for doubtful accounts		$ 301,000	$ 67,000
Antidilutive securities (shares) | shares		0	0	0
Number of reportable segments (segment) | segment		1
Deferred finance costs, net	[1]	$ 11,821,000	$ 7,679,000
Long-term debt		2,077,794,000	1,465,836,000
Restricted cash, rents from certain encumbered properties
Valuation of real estate and related assets [Line Items]
Restricted cash		5,900,000	2,700,000
Restricted cash, tenant and capital improvements, leasing commissions, repairs and maintenance and other lender reserves for certain properties
Valuation of real estate and related assets [Line Items]
Restricted cash		2,400,000	1,900,000
Unconsolidated joint venture
Valuation of real estate and related assets [Line Items]
Unconsolidated joint venture, impairment		$ 0	0
Building
Valuation of real estate and related assets [Line Items]
Acquired real estate asset, useful life		40 years
Advisors
Valuation of real estate and related assets [Line Items]
Due to affiliates		$ 5,600,000	5,500,000
As Previously Reported
Valuation of real estate and related assets [Line Items]
Long-term debt			$ 1,500,000,000
[1]	Deferred costs relate to mortgage notes payable and the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies.

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Summary of Reclassified Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Land	$ 1,113,987	$ 972,983
Intangible lease assets, less accumulated amortization of $48,085	439,167	391,917
Buildings, fixtures and improvements	3,071,618	2,617,956
Intangible lease assets	533,477	440,002
Total real estate investments, at cost	4,719,082	4,030,941
Accumulated depreciation and amortization	(253,115)	(126,271)
Total real estate investments, net	$ 4,465,967	3,904,670
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Land		972,983
Buildings and improvements, less accumulated depreciation of $78,186		2,539,770
Intangible lease assets, less accumulated amortization of $48,085		391,917
Accumulated depreciation and amortization		(78,186)
Total real estate investments, net		3,904,670
Accumulated amortization of intangible lease assets		$ 48,085

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Concentration of credit risk (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)financial_institutions
Accounting Policies [Abstract]
Cash on deposit, number of financial institutions (financial_institution)	11
Cash on deposit, number of financial institutions which had deposits in excess of current federally insured limits (financial_institution)	5
Concentration risk, credit risk, financial instrument, maximum exposure | $	$ 30.9

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value adjustment to contingent consideration	$ (1,747,000)	$ 0	$ 0
Fair value assets and liabilities, transfers amount	0	0
Liabilities:
Contingent consideration	(2,880,000)	(5,342,000)	$ (553,000)
Fair value, measurements, recurring
Assets:
Interest rate swaps	519,000
Total assets	519,000
Liabilities:
Interest rate swaps	(5,878,000)	(4,057,000)
Contingent consideration	(4,538,000)	(3,405,000)
Total liabilities	(10,416,000)	(7,462,000)
Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Interest rate swaps	0
Total assets	0
Liabilities:
Interest rate swaps	0	0
Contingent consideration	0	0
Total liabilities	0	0
Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2)
Assets:
Interest rate swaps	519,000
Total assets	519,000
Liabilities:
Interest rate swaps	(5,878,000)	(4,057,000)
Contingent consideration	0	0
Total liabilities	(5,878,000)	(4,057,000)
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3)
Assets:
Interest rate swaps	0
Total assets	0
Liabilities:
Interest rate swaps	0	0
Contingent consideration	(4,538,000)	(3,405,000)
Total liabilities	(4,538,000)	(3,405,000)
Estimate of Fair Value Measurement [Member] | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	2,100,000,000	1,500,000,000
Reported Value Measurement | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	$ 2,100,000,000	$ 1,500,000,000

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ (3,405)	$ (784)
Purchases	(2,880)	(5,342)
Fair value adjustments	1,747	70
Payments made		2,651
Ending balance	$ (4,538)	$ (3,405)

Fair Value Measurements - Real

Fair Value Measurements - Real Estate Assets (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)ft²property	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate, number of properties (property) | property	1
Impairment of real estate, area (sqft) | ft²	11
Impairment	$ 1,400	$ 0	$ 0
Impairment of long-lived assets held-for-use	1,440
Acquired in-place leases
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets held-for-use	280
Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets held-for-use	498
Building Fixtures and Improvements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets held-for-use	662
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring | Land and Building
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of real estate assets	$ 1,300

Real Estate Acquisitions (Detai

Real Estate Acquisitions (Details)	3 Months Ended								9 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)ft²property	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)ft²land_parcel	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Sep. 30, 2014USD ($)property	Dec. 31, 2015USD ($)ft²land_parcelproperty	Dec. 31, 2014USD ($)ft²land_parcelproperty	Dec. 31, 2013USD ($)property	Dec. 31, 2012USD ($)
Pro forma basis (unaudited)
Acquisition-related expenses	$ 3,741,000	$ 2,518,000	$ 3,882,000	$ 5,385,000	$ 12,008,000	$ 21,009,000	$ 10,113,000	$ 8,633,000		$ 15,526,000	$ 51,763,000	$ 48,286,000
Rentable commercial space (sqft) | ft²	25,200,000									25,200,000
Number of land parcels disposed (land_parcel) | land_parcel										1	1
Proceeds from sale of real estate										$ 1,058,000	$ 1,758,000	0
Impairment										1,400,000	0	0
Escrowed funds for acquisition of real estate investment										$ 0	70,254,000	0
Number of owned properties (property) | property	871									871
Land and Building
Pro forma basis (unaudited)
Postconfirmation, Property and Equipment, Net	$ 2,700,000									$ 2,700,000
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | Land and Building
Pro forma basis (unaudited)
Fair value of real estate assets	1,300,000									$ 1,300,000
2015 Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired (property) | property										111
Aggregate purchase price										$ 615,800,000
Business Acquisition, Purchase Price Allocation [Abstract]
Land	138,536,000									138,536,000
Buildings, fixtures and improvements	393,918,000									393,918,000
Intangible lease liabilities	(5,883,000)									(5,883,000)
Fair value adjustment of assumed note payable	(253,000)									(253,000)
Total purchase price	615,846,000									615,846,000
Revenue of acquiree since acquisition date										28,400,000
Loss of acquiree since acquisition date										(6,300,000)
Pro forma basis (unaudited)
Revenue										387,921,000	305,141,000
Net income (loss)										79,888,000	8,267,000
Acquisition-related expenses										15,500,000
2015 Acquisitions | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases	83,043,000									83,043,000
2015 Acquisitions | Acquired above-market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases	6,485,000									6,485,000
2014 Development Project
Business Acquisition [Line Items]
Aggregate purchase price											$ 23,900,000
Pro forma basis (unaudited)
Number of land parcels (land_parcel) | land_parcel					1						1
Rentable commercial space (sqft) | ft²					1,600,000						1,600,000
Total investment in development project	102,800,000									102,800,000
Property Acquisition
Pro forma basis (unaudited)
Business combination, initial agreement, number of businesses acquired (property) | property									2
Escrowed funds for acquisition of real estate investment									$ 70,300,000
Escrow deposit					$ 0						$ 0
2014 Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired (property) | property											422
Aggregate purchase price											$ 1,700,000,000
Business Acquisition, Purchase Price Allocation [Abstract]
Land					437,206,000						437,206,000
Buildings, fixtures and improvements					1,152,148,000						1,152,148,000
Intangible lease liabilities					(24,620,000)						(24,620,000)
Fair value adjustment of assumed note payable					(765,000)						(765,000)
Total purchase price					1,742,371,000						1,742,371,000
Revenue of acquiree since acquisition date											61,200,000
Loss of acquiree since acquisition date											25,700,000
Pro forma basis (unaudited)
Revenue											332,860,000	245,969,000
Net income (loss)											131,001,000	$ (53,805,000)
Acquisition-related expenses											51,800,000
2014 Acquisitions | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases					154,972,000						154,972,000
2014 Acquisitions | Acquired above-market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases					23,430,000						23,430,000
2013 Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired (property) | property												248
Aggregate purchase price												$ 1,700,000,000
Business Acquisition, Purchase Price Allocation [Abstract]
Land												390,781,000
Buildings, fixtures and improvements												1,103,390,000
Intangible lease liabilities												(31,802,000)
Total purchase price												1,664,810,000
Revenue of acquiree since acquisition date												60,400,000
Loss of acquiree since acquisition date												25,700,000
Pro forma basis (unaudited)
Revenue												181,859,000	$ 147,515,000
Net income (loss)												44,490,000	$ (30,842,000)
Acquisition-related expenses												48,300,000
2013 Acquisitions | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases												175,520,000
2013 Acquisitions | Acquired above-market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases												$ 26,921,000
Land
Pro forma basis (unaudited)
Land Sales	$ 1,100,000				$ 1,900,000					1,100,000	1,900,000
Proceeds from sale of real estate										1,000,000	1,800,000
Loss on sale of properties, before tax										$ 108,000	$ 157,000
Geographic Concentration Risk [Member] | CALIFORNIA
Pro forma basis (unaudited)
Number of owned properties (property) | property	77									77
Sales Revenue, Services, Net [Member] | Geographic Concentration Risk [Member] | CALIFORNIA
Pro forma basis (unaudited)
Concentration risk, percentage										11.00%
Discount Store Industry | Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member]
Pro forma basis (unaudited)
Concentration risk, percentage										14.00%
Pharmacy Industry | Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member]
Pro forma basis (unaudited)
Concentration risk, percentage										11.00%

Intangible Lease Assets (Detail

Intangible Lease Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets, Net [Abstract]
Intangible lease assets	$ 439,167	$ 391,917
In-place leases
Finite-Lived Intangible Assets, Net [Abstract]
Intangible lease assets	391,868	344,664
Accumulated amortization of intangible lease assets	$ 81,856	$ 41,739
Finitel-lived intangible asset, useful life	11 years 8 months 12 days	12 years 4 months 24 days
Amortization of intangible assets	$ 41,600	$ 29,600	$ 11,700
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,016	41,569
2,017	38,776
2,018	36,121
2,019	32,504
2,020	30,824
Above market leases
Finite-Lived Intangible Assets, Net [Abstract]
Intangible lease assets	47,299	47,253
Accumulated amortization of intangible lease assets	$ 12,454	$ 6,346
Finitel-lived intangible asset, useful life	10 years 1 month 6 days	10 years 6 months
Amortization of intangible assets	$ 6,400	$ 4,400	$ 1,900
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,016	6,220
2,017	5,903
2,018	5,022
2,019	4,083
2,020	$ 3,839

Derivative Instrument (Details)

Derivative Instrument (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)derivative	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Derivatives, Fair Value [Line Items]
Amount of loss reclassified from other comprehensive loss into income as interest expense		$ 6,485	$ 5,241	$ 1,951
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months		$ 6,600
Cash flow hedging | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Number of derivative instruments entered into (derivative) | derivative		5
Derivative, number of instruments held (derivative) | derivative		8
Derivative liability, event of default, termination amount		$ 6,500
Cash flow hedging | Interest Rate Swaps | Prepaid expenses, property escrow deposits, derivative assets and other assets
Derivatives, Fair Value [Line Items]
Outstanding Notional Amount		330,766
Derivative asset fair value		$ 519	0
Cash flow hedging | Interest Rate Swaps | Prepaid expenses, property escrow deposits, derivative assets and other assets | Minimum
Derivatives, Fair Value [Line Items]
Interest Rate	[1]	2.78%
Effective Date		Jun. 30, 2015
Maturity Date		Aug. 15, 2018
Cash flow hedging | Interest Rate Swaps | Prepaid expenses, property escrow deposits, derivative assets and other assets | Maximum
Derivatives, Fair Value [Line Items]
Interest Rate	[1]	3.59%
Effective Date		Oct. 15, 2015
Maturity Date		Nov. 6, 2020
Cash flow hedging | Interest Rate Swaps | Deferred rental income, derivative liabilities and other liabilities
Derivatives, Fair Value [Line Items]
Outstanding Notional Amount		$ 588,737
Derivative liability fair value		$ (5,878)	$ (4,057)
Cash flow hedging | Interest Rate Swaps | Deferred rental income, derivative liabilities and other liabilities | Minimum
Derivatives, Fair Value [Line Items]
Interest Rate	[1]	3.00%
Effective Date		Jun. 24, 2013
Maturity Date		Jun. 24, 2018
Cash flow hedging | Interest Rate Swaps | Deferred rental income, derivative liabilities and other liabilities | Maximum
Derivatives, Fair Value [Line Items]
Interest Rate	[1]	4.75%
Effective Date		Dec. 31, 2015
Maturity Date		Aug. 24, 2020
[1]	The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2015.

Notes Payable And Credit Faci49

Notes Payable And Credit Facility - Narrative (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Notes payable and credit facility, net	$ 2,066,563,000	$ 1,458,828,000
Debt instrument, weighted average years to maturity	4 years 1 month 2 days
Debt, weighted average interest rate	3.30%
Long-term debt	$ 2,077,794,000	1,465,836,000
Notes payable | Fixed rate debt
Debt Instrument [Line Items]
Notes payable and credit facility, net	896,600,000
Long-term debt	896,628,000	565,836,000
Mortgage notes payable
Debt Instrument [Line Items]
Debt security, amount, aggregate gross real estate assets net of gross intangible lease liabilities	$ 1,600,000,000
Mortgage notes payable | Fixed rate debt | Minimum
Debt Instrument [Line Items]
Line of credit fixed interest rate	3.35%
Mortgage notes payable | Fixed rate debt | Maximum
Debt Instrument [Line Items]
Line of credit fixed interest rate	4.98%
Mortgage notes payable | Fixed rate debt, variable rate debt fixed through the use of interest rate swaps
Debt Instrument [Line Items]
Notes payable and credit facility, net	$ 107,800,000
Variable Rate Debt
Debt Instrument [Line Items]
Debt, weighted average interest rate	2.90%
Debt security, amount, aggregate gross real estate assets net of gross intangible lease liabilities	$ 106,800,000
Long-term debt	$ 53,500,000	0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt, weighted average interest rate	2.80%
Line of credit, current borrowing capacity	$ 152,300,000
Line of Credit | Revolving Credit Facility | Federal funds rate plus
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Line of Credit | Revolving Credit Facility | One-Month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Line of Credit | Term loan | Cash flow hedging | Interest Rate Swaps
Debt Instrument [Line Items]
Derivative, amount of hedged item	$ 561,700,000
Line of Credit | JPMorgan Chase, Revolving credit facility | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	1,127,666,000	$ 900,000,000
Line of credit, maximum borrowing capacity	1,600,000,000
Line of credit facility, covenant, minimum consolidated net worth	$ 425,000,000
Line of credit facility, covenant, minimum consolidated net worth, percentage of equity issuance	75.00%
Debt instrument, covenant, fixed charge coverage ratio	1.50
Line of Credit | JPMorgan Chase, Revolving credit facility | Minimum | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, covenant, unsecured debt service coverage ratio	175.00%
Line of Credit | JPMorgan Chase, Revolving credit facility | Maximum | Revolving Credit Facility | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Line of credit facility, covenant, leverage ratio	60.00%
Debt instrument, covenant, unsecured debt to unencumbered asset value ratio	50.00%
Line of Credit | JPMorgan Chase, Revolving credit facility | Maximum | Revolving Credit Facility | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Line of credit facility, covenant, secured debt ratio	30.00%
Unsecured debt | JPMorgan Chase, Revolving credit facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 1,280,000,000
Long-term line of credit	1,100,000,000
Unsecured debt | JPMorgan Chase, Revolving credit facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	643,333,667
Unsecured debt | JPMorgan Chase, Revolving credit facility | Term loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 636,700,000
Unsecured debt | 2013 Swapped Term Loan [Member] | Term loan | Cash flow hedging | Interest Rate Swaps
Debt Instrument [Line Items]
Debt, weighted average interest rate	3.10%
Unsecured debt | Eurodollar rate loan | Minimum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Derivative, basis spread on variable rate	1.65%
Unsecured debt | Eurodollar rate loan | Maximum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Derivative, basis spread on variable rate	2.50%
Unsecured debt | Base rate committed loans | Minimum | Base Rate
Debt Instrument [Line Items]
Derivative, basis spread on variable rate	0.65%
Unsecured debt | Base rate committed loans | Maximum | Base Rate
Debt Instrument [Line Items]
Derivative, basis spread on variable rate	1.50%
Unsecured debt | JP Morgan Chase, Swapped Revolver Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit	$ 491,000,000
Unsecured debt | JP Morgan Chase, Swapped Revolver Loan | Revolving Credit Facility | Cash flow hedging | Interest Rate Swaps
Debt Instrument [Line Items]
Debt, weighted average interest rate	3.00%
Derivative, amount of hedged item	$ 250,000,000

Notes Payable And Credit Faci50

Notes Payable And Credit Facility - Summary of Debt (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	$ 1,465,836
Net premiums, beginning of the period	671	[1]
Deferred costs, beginning of period	(7,679)	[2]
Total debt, net beginning of period	1,458,828
Debt Issuance and Assumptions	1,233,346	[3]
Payments of deferred costs	(6,473)	[2],[3]
Proceeds from debt, bet of issuance costs	1,226,873	[3]
Repayments	(621,388)
Amortization of premium	(81)	[1]
Amortization of deferred financing costs	2,331	[2]
Accretion and (Amortization)	2,250
Long-term debt, gross, ending balance	2,077,794
Net premiums, end of the period	590	[1]
Deferred costs, end of period	(11,821)	[2]
Total debt, net end of period	2,066,563
Notes payable | Fixed rate debt
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	565,836
Debt Issuance and Assumptions	346,180	[3]
Repayments	(15,388)
Long-term debt, gross, ending balance	896,628
Variable Rate Debt
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	0
Debt Issuance and Assumptions	53,500	[3]
Repayments	0
Long-term debt, gross, ending balance	53,500
Line of Credit | Credit facility | Revolving Credit Facility
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	900,000
Debt Issuance and Assumptions	833,666	[3]
Repayments	(606,000)
Long-term debt, gross, ending balance	$ 1,127,666
[1]	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.
[2]	Deferred costs relate to mortgage notes payable and the term portion of the credit facility, as discussed in Note 2 — Summary of Significant Accounting Policies.
[3]	Includes deferred financing costs incurred during the period.

Notes Payable And Credit Faci51

Notes Payable And Credit Facility - Debt Future Maturity Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2,016	$ 425
2,017	491,451
2,018	693,877
2,019	499
2,020	333,215
Thereafter	558,327
Total	$ 2,077,794	$ 1,465,836

Intangible Lease Liabilities (D

Intangible Lease Liabilities (Details) - Intangible lease liabilities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Liabilities, Net [Abstract]
Acquired below-market leases, net of accumulated amortization	$ 53,822	$ 55,535
Amortization of intangible liabilities	7,600	6,600	$ 2,100
Accumulated amortization	$ 15,641	$ 8,807
Useful life	8 years 9 months 18 days	9 years 2 months 12 days
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,016	$ 7,731
2,017	7,417
2,018	7,040
2,019	6,164
2,020	$ 5,530

Supplemental Cash Flow Disclo53

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Elements [Abstract]
Distributions declared and unpaid	$ 16,568	$ 16,189	$ 10,569
Accrued other offering costs due to affiliates	0	0	4,937
Accrued capital expenditures	2,741	7,721	1,760
Common stock issued through distribution reinvestment plan	112,158	104,261	25,702
Change in fair value of interest rate swaps	(1,302)	(1,805)	(2,252)
Contingent consideration recorded upon property acquisitions	2,880	5,342	553
Fair value of notes payable assumed in real estate acquisition	15,233	25,979	0
Supplemental Cash Flow Disclosures:
Interest paid	$ 54,388	$ 31,159	$ 17,474

Commitments and Contingencies (

Commitments and Contingencies (Details) - Capital addition purchase commitments $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)property
Unrecorded Unconditional Purchase Obligation [Line Items]
Ownership interest acquired	100.00%
Number of businesses acquired (property) | property	5
Aggregate purchase price	$ 32
Escrow deposit, property acquisition	$ 1

Related-Party Transactions an55

Related-Party Transactions and Arrangements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Due to affiliates	$ 5,613,000	$ 5,473,000
Due from affiliates	$ 47,000	470,000
Dealer manager commission | Selling commissions | Maximum
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	7.00%
Dealer manager commission reallowed | Selling commissions reallowed by CCC
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	100.00%
Dealer manager | Dealer manager fees
Related Party Transaction [Line Items]
Commissions percentage on stock sales and related dealer manager fees	2.00%
Advisors
Related Party Transaction [Line Items]
Due to affiliates	$ 5,600,000	5,500,000
Cumulative noncompounded annual return	8.00%
Advisors | Listing commission
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%
Advisors | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Asset management or advisory fees percent	0.75%
Advisors | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Asset management or advisory fees percent	0.70%
Advisors | Average invested assets over $4 billion
Related Party Transaction [Line Items]
Asset management or advisory fees percent	0.65%
Advisors | Maximum | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Average invested assets	$ 2,000,000,000
Advisors | Maximum | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Average invested assets	$ 4,000,000,000
Advisors | Minimum
Related Party Transaction [Line Items]
Operating expense reimbursement percent	2.00%
Operating expense reimbursement percent of net income	25.00%
Advisors | Minimum | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Average invested assets	$ 0
Advisors | Minimum | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Advisors | Minimum | Average invested assets over $4 billion
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Advisors | Selling commissions
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	55,921,000	$ 122,082,000
Advisors | Selling commissions reallowed by CCC
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	55,921,000	122,082,000
Advisors | Dealer manager fees
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	16,780,000	35,685,000
Advisors | Dealer manager fees reallowed by CCC
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	0	9,326,000	20,183,000
Advisors | Other offering costs
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 0	7,277,000	36,179,000
Advisors | Other offering costs | Maximum
Related Party Transaction [Line Items]
Organization and offering expense	2.00%
Advisors | Acquisition fees and expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 13,311,000	38,483,000	35,109,000
Advisors | Acquisition fees and expenses | Maximum
Related Party Transaction [Line Items]
Acquisition and advisory fee	6.00%
Advisors | Acquisition fees and expenses | Maximum | Contract purchase price of each asset
Related Party Transaction [Line Items]
Acquisition and advisory fee	2.00%
Advisors | Advisory fees and expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 36,225,000	24,152,000	10,549,000
Advisors | Operating expenses
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	4,568,000	3,383,000	2,905,000
Advisors | Acquisitions and Operations Costs
Related Party Transaction [Line Items]
Due to affiliates	$ 5,600,000	$ 5,500,000	$ 2,600,000
Advisors | Property sales commission | Contract sale price of each property
Related Party Transaction [Line Items]
Commissions performance and other fees percent	1.00%
Advisors | Property portfolio | Maximum
Related Party Transaction [Line Items]
Commissions performance and other fees percent	6.00%
Advisors | Performance fee
Related Party Transaction [Line Items]
Commissions performance and other fees percent	15.00%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 24, 2016	Aug. 11, 2010	Mar. 24, 2016	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 01, 2016	Aug. 31, 2015	Feb. 18, 2014	Dec. 19, 2013
Equity, Class of Treasury Stock [Line Items]
Common stock shares registered dividend reinvestment plan (shares)					26,000,000	26,000,000
Common stock, par value (USD per share)					$ 0.01	$ 0.01
Common stock, shares authorized (shares)					490,000,000	490,000,000	490,000,000
Preferred stock, shares authorized (shares)					10,000,000	10,000,000	10,000,000
Share price (USD per share)					$ 10				$ 9.70	$ 10
Common stock issued through distribution reinvestment plan					$ 112,158	$ 104,261	$ 25,702
Stock repurchase program, required holding period					1 year
Stock redemption program, redemption price per share, percentage of amount paid per share, after one year					95.00%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after two year					97.50%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after three year					100.00%
Stock repurchase program, termination notice period					30 days
Stock repurchased and retired during period, shares					4,600,000	1,100,000	123,000
Redemptions of common stock							$ 1,182
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution					365 days
Common stock, dividends, daily amount per share authorized (USD per share)					$ 0.001712523
Dividends, yield					6.25%
Distributions payable					$ 16,568	$ 16,189	$ 10,569
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 redemption program, redemption priority, shares					250
Distribution reinvestment plan
Equity, Class of Treasury Stock [Line Items]
Common stock shares registered dividend reinvestment plan (shares)											26,000,000
Share price (USD per share)									$ 9.70
Dividend reinvestment plan, reinvestment share price					$ 9.70
Dividend reinvestment plan, termination notice period					10 days
Shares issued pursuant to a distribution reinvestment plan (in shares)					11,700,000	11,000,000	2,700,000
Common stock issued through distribution reinvestment plan					$ 112,200	$ 104,300	$ 25,700
Redemptions of common stock					$ 44,200	$ 10,600	$ 1,200
Distribution reinvestment plan | 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					1.25%
Common Stock
Equity, Class of Treasury Stock [Line Items]
Issuance of common stock (shares)		20,000			11,745,917	95,036,480	181,205,760
Share price (USD per share)		$ 10
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Issuance of common stock (shares)	23,400,000
Share price (USD per share)								$ 9.7
Redemptions of common stock			$ 27,600
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution				366 days
Common stock, dividends, daily amount per share authorized (USD per share)				$ 0.0017067760
Dividends, yield				6.44%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Ordinary dividends	58.00%	47.00%	60.00%
Nontaxable distributions	42.00%	53.00%	40.00%
Total	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense (benefit), continuing operations	$ 2,200,000	$ 1,300,000	$ 473,000
Unrecognized tax benefits	$ 0	$ 0

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Leases [Abstract]
Operating leases of lessor, weighted average remaining lease term	10 years 10 months 20 days
2,016	$ 334,619
2,017	330,130
2,018	320,445
2,019	304,506
2,020	295,446
Thereafter	2,238,323
Total future minimum rental income	$ 3,823,469

Quarterly Results (Unaudited)59

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 97,052		$ 94,188		$ 90,528		$ 85,963		$ 83,279		$ 64,591		$ 56,861		$ 51,551		$ 367,731	$ 256,282	$ 102,557
Acquisition-related expenses	3,741		2,518		3,882		5,385		12,008		21,009		10,113		8,633		15,526	51,763	48,286
Operating income	29,247		34,696		31,862		28,395		20,378		3,698		10,790		10,564		124,200	45,430	(10,696)
Net income (loss)	13,117		18,485		17,293		15,998		9,181		(4,147)		3,190		2,946		64,893	11,170	(32,880)
Net income (loss) attributable to the Company	$ 13,079		$ 18,452		$ 17,225		$ 16,015		$ 9,196		$ (4,156)		$ 3,204		$ 2,946		$ 64,771	$ 11,190	$ (32,880)
Basic and diluted net income (loss) per common share (USD per share)	$ 0.04	[1]	$ 0.06	[1]	$ 0.06	[1]	$ 0.05	[1]	$ 0.03	[2]	$ (0.01)	[2]	$ 0.01	[2]	$ 0.01	[2]	$ 0.21	$ 0.04	$ (0.36)
Distributions declared per common share (USD per share)	$ 0.16	[1]	$ 0.16	[1]	$ 0.16	[1]	$ 0.15	[1]	$ 0.16	[2]	$ 0.16	[2]	$ 0.16	[2]	$ 0.15	[2]
[1]	The Company calculates net income per share and distributions declared per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters.
[2]	The Company calculates net income (loss) per share and distributions declared 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 - (Details)

Subsequent Events - (Details) $ / shares in Units, shares in Millions	Mar. 24, 2016USD ($)shares	Mar. 24, 2016USD ($)property$ / sharesshares	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Mar. 14, 2016USD ($)
Subsequent Event
Issuance of common stock											$ 112,158,000	$ 941,930,000	$ 1,807,820,000
Redemptions of common stock													1,182,000
Debt, weighted average interest rate			3.30%								3.30%
Acquisition-related expenses			$ 3,741,000	$ 2,518,000	$ 3,882,000	$ 5,385,000	$ 12,008,000	$ 21,009,000	$ 10,113,000	$ 8,633,000	$ 15,526,000	$ 51,763,000	$ 48,286,000
Line of Credit | Revolving Credit Facility
Subsequent Event
Debt, weighted average interest rate			2.80%								2.80%
Line of Credit | JPMorgan Chase, Revolving credit facility | Revolving Credit Facility
Subsequent Event
Line of credit, maximum borrowing capacity			$ 1,600,000,000								$ 1,600,000,000
Unsecured debt | JPMorgan Chase, Revolving credit facility
Subsequent Event
Line of credit, maximum borrowing capacity			1,280,000,000								1,280,000,000
Unsecured debt | JPMorgan Chase, Revolving credit facility | Term loan
Subsequent Event
Line of credit, maximum borrowing capacity			636,700,000								636,700,000
Unsecured debt | JPMorgan Chase, Revolving credit facility | Revolving Credit Facility
Subsequent Event
Line of credit, maximum borrowing capacity			$ 643,333,667								$ 643,333,667
Subsequent Event
Subsequent Event
Issuance of common stock (shares) | shares	23.4
Issuance of common stock	$ 223,500,000
Redemptions of cancellations common stock (shares) | shares		2.9
Redemptions of common stock		$ 27,600,000
Common stock average redemption price per share | $ / shares		$ 9.59
Number of businesses acquired (property) | property		7
Aggregate purchase price		$ 56,900,000
Acquisition-related expenses		1,600,000
Subsequent Event | Line of Credit | JPMorgan Chase, Revolving credit facility | Revolving Credit Facility
Subsequent Event
Notes payable and credit facility, net	1,100,000,000	1,100,000,000
Available borrowing capacity	175,300,000	175,300,000
Subsequent Event | Notes payable
Subsequent Event
Debt instrument, face amount	$ 67,500,000	$ 67,500,000
Derivative, amount of hedged item														$ 38,500,000
Debt, weighted average interest rate	3.70%	3.70%												3.60%

Schedule III - Real Estate As61

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	$ 3,590,939	$ 1,960,708	$ 464,539
Additions
Acquisitions	532,454	1,613,201	1,494,171
Improvements	64,458	18,967	1,998
Total additions	596,912	1,632,168	1,496,169
Deductions
Cost of real estate sold	1,086	1,937	0
Adjustment to basis	0	0	0
Other (including provisions for impairment of real estate assets)	1,160	0	0
Total deductions	2,246	1,937	0
Balance, end of period	4,185,605	3,590,939	1,960,708
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	78,186	23,377	1,743
Additions
Acquisitions - Depreciation Expense for Building, Acquisitions Costs & Tenant Improvements Acquired	80,373	54,656	21,624
Improvements - Depreciation Expense for Tenant Improvements and Building Equipment	303	153	10
Total additions	80,676	54,809	21,634
Deductions
Cost of real estate sold	0	0	0
Other (including provisions for impairment of real estate assets)	57	0	0
Total deductions	57	0	0
Balance, end of period	$ 158,805	$ 78,186	$ 23,377
Number of single-tenant freestanding retail properties, owned | property	782
Number of multi-tenant retail properties, owned | property	89
Property, plant and equipment, land and real estate assets, net tax basis	$ 4,200,000
Building
Deductions
Acquired real estate asset, useful life	40 years
Unsecured debt | JPMorgan Chase, Revolving credit facility
Deductions
Long-term line of credit	$ 1,100,000

Schedule III - Real Estate As62

Schedule III - Real Estate Assets and Accumulated Depreciation - 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
24 Hour Fitness: | Beaverton, OR
Real Estate and Accumulated Depreciation [Line Items]
Land	2,609
Buildings and Improvements	9,974
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,583
Accumulated Depreciation	322
24 Hour Fitness: | Fort Worth, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,519
Buildings and Improvements	7,449
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,968
Accumulated Depreciation	451
Aaron's Rents: | Hillsboro , OH
Real Estate and Accumulated Depreciation [Line Items]
Land	279
Buildings and Improvements	829
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,108
Accumulated Depreciation	64
Aaron's Rents: | Mountain Home, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	183
Buildings and Improvements	872
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,055
Accumulated Depreciation	6
Aaron's Rents: | Wilmington, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	249
Buildings and Improvements	1,134
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,383
Accumulated Depreciation	30
Academy Sports: | Clarksville, TN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,811
Buildings and Improvements	6,603
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,414
Accumulated Depreciation	276
Academy Sports: | Cookeville, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Buildings and Improvements	23,847
Total Adjustment to Basis	73,329
Gross Amount at Which Carried At December 31, 2015	97,176
Accumulated Depreciation	290
Academy Sports: | Douglasville, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,360
Buildings and Improvements	8,593
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,953
Accumulated Depreciation	355
Academy Sports: | Flowood, MS
Real Estate and Accumulated Depreciation [Line Items]
Land	1,534
Buildings and Improvements	7,864
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,398
Accumulated Depreciation	348
Academy Sports: | McDonough, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,846
Buildings and Improvements	5,626
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,472
Accumulated Depreciation	267
Academy Sports: | Valdosta, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,838
Land	2,482
Buildings and Improvements	5,922
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,404
Accumulated Depreciation	462
Advance Auto: | Corydon, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	190
Buildings and Improvements	1,219
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,409
Accumulated Depreciation	107
Advance Auto: | Dearborn Heights, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	385
Buildings and Improvements	1,090
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,475
Accumulated Depreciation	65
Advance Auto: | Decatur, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	606
Buildings and Improvements	1,053
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,659
Accumulated Depreciation	59
Advance Auto: | Lake Geneva, WI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,062
Land	381
Buildings and Improvements	1,181
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,562
Accumulated Depreciation	89
Advance Auto: | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	387
Buildings and Improvements	1,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,387
Accumulated Depreciation	15
Advance Auto: | Mattoon, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	261
Buildings and Improvements	1,063
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,324
Accumulated Depreciation	1
Advance Auto: | Mt. Pleasant, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	122
Buildings and Improvements	1,069
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,191
Accumulated Depreciation	55
Advance Auto: | North Ridgeville, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	218
Buildings and Improvements	1,284
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,502
Accumulated Depreciation	121
Advance Auto: | Rutherfordton, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	220
Buildings and Improvements	944
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,164
Accumulated Depreciation	55
Advance Auto: | Starkville, MS
Real Estate and Accumulated Depreciation [Line Items]
Land	447
Buildings and Improvements	756
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,203
Accumulated Depreciation	76
Advance Auto: | Willmar, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	200
Buildings and Improvements	1,279
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,479
Accumulated Depreciation	26
Albany Square: | Albany, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,606
Buildings and Improvements	7,113
Total Adjustment to Basis	300
Gross Amount at Which Carried At December 31, 2015	9,019
Accumulated Depreciation	454
Almeda Crossing: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	4,738
Buildings and Improvements	26,245
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	30,983
Accumulated Depreciation	990
Amazon: | Lebanon, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	33,000
Land	1,934
Buildings and Improvements	56,286
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	58,220
Accumulated Depreciation	1,816
Applebee's | Greenville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	672
Buildings and Improvements	1,737
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,409
Accumulated Depreciation	67
Applebee's | Lithonia, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,234
Buildings and Improvements	2,613
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,847
Accumulated Depreciation	117
Applebee's | Savannah, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	818
Buildings and Improvements	1,686
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,504
Accumulated Depreciation	72
AutoZone: | Philipburg, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	152
Buildings and Improvements	1,304
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,456
Accumulated Depreciation	120
AutoZone: | Poughkeepsie, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	699
Buildings and Improvements	1,356
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,055
Accumulated Depreciation	14
AutoZone: | Sheffield, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	815
Buildings and Improvements	0
Total Adjustment to Basis	785
Gross Amount at Which Carried At December 31, 2015	1,600
Accumulated Depreciation	0
Bass Pro Shops | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	945
Buildings and Improvements	5,713
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,658
Accumulated Depreciation	383
Beavercreek Shopping Center: | Beavercreek, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	17,200
Land	5,504
Buildings and Improvements	25,178
Total Adjustment to Basis	537
Gross Amount at Which Carried At December 31, 2015	31,219
Accumulated Depreciation	1,558
Bed Bath & Beyond/Golf Smith: | Schaumburg, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	4,786
Buildings and Improvements	6,149
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	10,935
Accumulated Depreciation	593
Benihana: | Golden Valley, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,510
Buildings and Improvements	2,934
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,444
Accumulated Depreciation	257
Benihana: | Lauderdale by the Sea, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,181
Buildings and Improvements	2,014
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,195
Accumulated Depreciation	181
Benihana: | Lombard, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,390
Buildings and Improvements	2,343
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,733
Accumulated Depreciation	245
Benihana: | Woodlands, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,151
Buildings and Improvements	968
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,119
Accumulated Depreciation	88
Big Lots: | San Angelo, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,043
Buildings and Improvements	1,947
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,990
Accumulated Depreciation	234
Big Lots: | Waco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,069
Buildings and Improvements	1,326
Total Adjustment to Basis	56
Gross Amount at Which Carried At December 31, 2015	2,451
Accumulated Depreciation	172
Biolife Plasma Services: | Bellingham, WA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,397
Buildings and Improvements	6,264
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,661
Accumulated Depreciation	207
Biolife Plasma Services: | Grandville, MI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	959
Buildings and Improvements	4,791
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,750
Accumulated Depreciation	146
Biolife Plasma Services: | Loveland, CO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	651
Buildings and Improvements	5,645
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,296
Accumulated Depreciation	169
Biolife Plasma Services: | Bloomington, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	696
Buildings and Improvements	3,900
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,596
Accumulated Depreciation	157
Biolife Plasma Services: | Fort Wayne, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	660
Buildings and Improvements	3,749
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,409
Accumulated Depreciation	151
Biolife Plasma Services: | St. Cloud, MN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	889
Buildings and Improvements	3,633
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,522
Accumulated Depreciation	161
Biolife Plasma Services: | St. George, UT
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,195
Buildings and Improvements	5,561
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,756
Accumulated Depreciation	118
Biolife Plasma Services: | Waterloo, IA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	489
Buildings and Improvements	3,380
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,869
Accumulated Depreciation	152
Biolife Plasma Services: | West Fargo, ND
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,379
Buildings and Improvements	5,052
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,431
Accumulated Depreciation	113
Bojangles: | Pelham, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	219
Buildings and Improvements	1,216
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,435
Accumulated Depreciation	51
Boston Commons: | Springfield, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,400
Land	3,101
Buildings and Improvements	7,042
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	10,143
Accumulated Depreciation	283
Bottom Dollar Grocery: | Ambridge, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	519
Buildings and Improvements	2,985
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,504
Accumulated Depreciation	163
Brownsville Plaza: | Baldwin, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	627
Buildings and Improvements	2,702
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,329
Accumulated Depreciation	150
Bryan Crossing: | Kodak, TN
Real Estate and Accumulated Depreciation [Line Items]
Land	863
Buildings and Improvements	6,523
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,386
Accumulated Depreciation	231
Buffalo Wild Wings: | Idaho Falls, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	712
Buildings and Improvements	1,336
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,048
Accumulated Depreciation	49
Buffalo Wild Wings: | Warrenville, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,208
Buildings and Improvements	1,420
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,628
Accumulated Depreciation	132
Buffalo Wild Wings: | Woodridge, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,139
Buildings and Improvements	1,484
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,623
Accumulated Depreciation	137
Caliber Collision Center: | Frisco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,484
Buildings and Improvements	2,038
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,522
Accumulated Depreciation	76
Caliber Collision Center: | Las Cruces, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	673
Buildings and Improvements	1,949
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,622
Accumulated Depreciation	88
Caliber Collision Center: | Midwest City, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	259
Buildings and Improvements	1,165
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,424
Accumulated Depreciation	57
Caliber Collision Center: | Denver, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	855
Buildings and Improvements	658
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,513
Accumulated Depreciation	26
Caliber Collision Center: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	622
Buildings and Improvements	832
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,454
Accumulated Depreciation	33
Caliber Collision Center: | Wylie, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	816
Buildings and Improvements	2,690
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,506
Accumulated Depreciation	68
Canton Marketplace: | Canton, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	32,000
Land	8,310
Buildings and Improvements	48,667
Total Adjustment to Basis	857
Gross Amount at Which Carried At December 31, 2015	57,834
Accumulated Depreciation	4,452
Carlisle Crossing: | Carlisle, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,491
Buildings and Improvements	15,817
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	20,308
Accumulated Depreciation	724
Canarsie Plaza: | Brooklyn, NY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	75,000
Land	37,970
Buildings and Improvements	71,267
Total Adjustment to Basis	790
Gross Amount at Which Carried At December 31, 2015	110,027
Accumulated Depreciation	5,507
Century Plaza: | Orlando, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,094
Buildings and Improvements	6,178
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,272
Accumulated Depreciation	359
Chase: | Hanover Township, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	2,192
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,192
Accumulated Depreciation	0
Chestnut Square: | Brevard, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,727
Land	425
Buildings and Improvements	5,037
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,462
Accumulated Depreciation	354
Chili's: | Forest City, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	233
Buildings and Improvements	1,936
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,169
Accumulated Depreciation	63
Coosa Town Center: | Gadsden, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,246
Buildings and Improvements	7,799
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,045
Accumulated Depreciation	476
Cost Plus World Market: | Kansas City, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,378
Buildings and Improvements	2,396
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,774
Accumulated Depreciation	272
Costco: | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,146
Land	9,497
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,497
Accumulated Depreciation	0
Cottonwood Commons: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	19,250
Land	4,986
Buildings and Improvements	28,881
Total Adjustment to Basis	84
Gross Amount at Which Carried At December 31, 2015	33,951
Accumulated Depreciation	1,877
Coventry Crossing: | Coventry , RI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,000
Land	3,462
Buildings and Improvements	5,899
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,361
Accumulated Depreciation	389
Crosspoint: | Hagerstown, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	12,285
Buildings and Improvements	14,359
Total Adjustment to Basis	(1,086)
Gross Amount at Which Carried At December 31, 2015	25,558
Accumulated Depreciation	621
Crossroads Annex: | Lafayette, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,659
Buildings and Improvements	7,091
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,750
Accumulated Depreciation	415
Crossroads Commons: | Plover, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,000
Buildings and Improvements	4,515
Total Adjustment to Basis	75
Gross Amount at Which Carried At December 31, 2015	5,590
Accumulated Depreciation	308
CVS: | Hanover Township, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	4,746
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,746
Accumulated Depreciation	0
CVS: | Arnold, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	2,043
Buildings and Improvements	2,367
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,410
Accumulated Depreciation	124
CVS: | Asheville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,108
Buildings and Improvements	1,084
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,192
Accumulated Depreciation	106
CVS: | Austin, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,076
Buildings and Improvements	3,475
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,551
Accumulated Depreciation	181
CVS: | Bainbridge, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	444
Buildings and Improvements	1,682
Total Adjustment to Basis	47
Gross Amount at Which Carried At December 31, 2015	2,173
Accumulated Depreciation	157
CVS: | Bloomington, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,620
Buildings and Improvements	2,957
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,577
Accumulated Depreciation	155
CVS: | Blue Springs, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	395
Buildings and Improvements	2,722
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,117
Accumulated Depreciation	143
CVS: | Bridgeton, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	2,056
Buildings and Improvements	2,362
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,418
Accumulated Depreciation	124
CVS: | Cartersville, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,547
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,547
Accumulated Depreciation	0
CVS: | Charleston, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	869
Buildings and Improvements	1,009
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,878
Accumulated Depreciation	99
CVS: | Chesapeake, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,044
Buildings and Improvements	3,053
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,097
Accumulated Depreciation	164
CVS: | Chicago, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,832
Buildings and Improvements	4,255
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,087
Accumulated Depreciation	297
CVS: | Cicero, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	487
Buildings and Improvements	3,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,586
Accumulated Depreciation	163
CVS: | Corpus Christi, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	648
Buildings and Improvements	2,557
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,205
Accumulated Depreciation	241
CVS: | Danville, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	424
Buildings and Improvements	2,105
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,529
Accumulated Depreciation	83
CVS: | Eminence, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	872
Buildings and Improvements	2,511
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,383
Accumulated Depreciation	130
CVS: | Florence, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,735
Land	1,030
Buildings and Improvements	1,446
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,476
Accumulated Depreciation	105
CVS: | Goose Creek, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,022
Buildings and Improvements	1,980
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,002
Accumulated Depreciation	103
CVS: | Greenwood, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	912
Buildings and Improvements	3,549
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,461
Accumulated Depreciation	220
CVS: | Hazlet, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	3,047
Buildings and Improvements	3,610
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,657
Accumulated Depreciation	189
CVS: | Honesdale, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,206
Buildings and Improvements	3,342
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,548
Accumulated Depreciation	180
CVS: | Independence, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	359
Buildings and Improvements	2,242
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,601
Accumulated Depreciation	$ 118

Schedule III - Real Estate As63

Schedule III - Real Estate Assets and Accumulated Depreciation - 2 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
CVS: | Indianapolis, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,110
Buildings and Improvements	2,484
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,594
Accumulated Depreciation	130
CVS: | Irving, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	745
Buildings and Improvements	3,034
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,779
Accumulated Depreciation	250
CVS: | Jacksonville, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,182
Buildings and Improvements	3,817
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,999
Accumulated Depreciation	143
CVS: | Janesville, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	736
Buildings and Improvements	2,545
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,281
Accumulated Depreciation	133
CVS: | Katy, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,149
Buildings and Improvements	2,462
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,611
Accumulated Depreciation	126
CVS: | Lincoln, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	2,534
Buildings and Improvements	3,014
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,548
Accumulated Depreciation	158
CVS: | London, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,445
Buildings and Improvements	2,661
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,106
Accumulated Depreciation	157
CVS: | Middletown, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	665
Buildings and Improvements	5,483
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,148
Accumulated Depreciation	284
CVS: | North Wilkesboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	332
Buildings and Improvements	2,369
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,701
Accumulated Depreciation	132
CVS: | Poplar Bluff, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,861
Buildings and Improvements	2,211
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,072
Accumulated Depreciation	117
CVS: | Salem, NH
Real Estate and Accumulated Depreciation [Line Items]
Land	3,456
Buildings and Improvements	2,351
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,807
Accumulated Depreciation	126
CVS: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,893
Buildings and Improvements	1,848
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,741
Accumulated Depreciation	98
CVS: | Sand Springs, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	1,765
Buildings and Improvements	2,283
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,048
Accumulated Depreciation	121
CVS: | Santa Fe, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	2,243
Buildings and Improvements	4,619
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,862
Accumulated Depreciation	239
CVS: | Sedalia, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	466
Buildings and Improvements	2,318
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,784
Accumulated Depreciation	122
CVS: | St. John, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,546
Buildings and Improvements	2,601
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,147
Accumulated Depreciation	136
CVS: | Temple Hills, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	1,817
Buildings and Improvements	2,989
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,806
Accumulated Depreciation	173
CVS: | Vineland, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	813
Buildings and Improvements	2,926
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,739
Accumulated Depreciation	158
CVS: | Waynesboro, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	986
Buildings and Improvements	2,708
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,694
Accumulated Depreciation	142
CVS: | West Monroe, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,738
Buildings and Improvements	2,136
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,874
Accumulated Depreciation	113
Darien Towne Center: | Darien, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,200
Land	6,718
Buildings and Improvements	11,951
Total Adjustment to Basis	900
Gross Amount at Which Carried At December 31, 2015	19,569
Accumulated Depreciation	892
DaVita: | Riverview, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	199
Buildings and Improvements	2,322
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,521
Accumulated Depreciation	95
Decatur Commons: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,000
Land	2,478
Buildings and Improvements	9,333
Total Adjustment to Basis	470
Gross Amount at Which Carried At December 31, 2015	12,281
Accumulated Depreciation	621
Deltona Commons: | Deltona, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,767
Land	1,424
Buildings and Improvements	7,760
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,184
Accumulated Depreciation	512
Dick’s Sporting Goods: | Oklahoma City (3rd), OK
Real Estate and Accumulated Depreciation [Line Items]
Land	1,198
Buildings and Improvements	7,838
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,036
Accumulated Depreciation	681
Dick’s Sporting Goods: | Oklahoma City, OK
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,858
Land	685
Buildings and Improvements	10,587
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,272
Accumulated Depreciation	897
Dollar General: | Abbeville, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	294
Buildings and Improvements	1,302
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,596
Accumulated Depreciation	43
Dollar General: | Akron, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	69
Buildings and Improvements	771
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	840
Accumulated Depreciation	50
Dollar General: | Akron, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	112
Buildings and Improvements	1,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,211
Accumulated Depreciation	66
Dollar General: | Alliance, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	97
Buildings and Improvements	812
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	909
Accumulated Depreciation	64
Dollar General: | Alton, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	94
Buildings and Improvements	922
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,016
Accumulated Depreciation	32
Dollar General: | Arapahoe, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	44
Buildings and Improvements	873
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	917
Accumulated Depreciation	31
Dollar General: | Asheville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	379
Buildings and Improvements	753
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,132
Accumulated Depreciation	57
Dollar General: | Ashville, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	666
Land	255
Buildings and Improvements	678
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	933
Accumulated Depreciation	62
Dollar General: | Atmore, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	243
Buildings and Improvements	858
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,101
Accumulated Depreciation	43
Dollar General: | Bainbridge, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	106
Buildings and Improvements	1,175
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,281
Accumulated Depreciation	79
Dollar General: | Belle, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	51
Buildings and Improvements	880
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	931
Accumulated Depreciation	31
Dollar General: | Berry, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	104
Buildings and Improvements	1,196
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,300
Accumulated Depreciation	42
Dollar General: | Bessemer, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	142
Buildings and Improvements	941
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,083
Accumulated Depreciation	58
Dollar General: | Bloomfield, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	50
Buildings and Improvements	845
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	895
Accumulated Depreciation	24
Dollar General: | Blue Rapids, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	52
Buildings and Improvements	880
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	932
Accumulated Depreciation	29
Dollar General: | Bluefield, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	337
Buildings and Improvements	686
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,023
Accumulated Depreciation	22
Dollar General: | Bokchito, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	59
Buildings and Improvements	859
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	918
Accumulated Depreciation	72
Dollar General: | Botkins, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	130
Buildings and Improvements	991
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,121
Accumulated Depreciation	65
Dollar General: | Brandon, SD
Real Estate and Accumulated Depreciation [Line Items]
Land	292
Buildings and Improvements	871
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,163
Accumulated Depreciation	29
Dollar General: | Breaux Bridge, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	840
Land	225
Buildings and Improvements	1,007
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,232
Accumulated Depreciation	85
Dollar General: | Broken Bow, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	91
Buildings and Improvements	878
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	969
Accumulated Depreciation	48
Dollar General: | Brownsville, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	822
Land	264
Buildings and Improvements	943
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,207
Accumulated Depreciation	75
Dollar General: | Buffalo, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	122
Buildings and Improvements	1,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,221
Accumulated Depreciation	30
Dollar General: | Clay, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	792
Land	305
Buildings and Improvements	768
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,073
Accumulated Depreciation	66
Dollar General: | Cleveland, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	684
Land	158
Buildings and Improvements	856
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,014
Accumulated Depreciation	68
Dollar General: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	279
Buildings and Improvements	1,248
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,527
Accumulated Depreciation	75
Dollar General: | Conroe, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	756
Land	167
Buildings and Improvements	946
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,113
Accumulated Depreciation	74
Dollar General: | Crystal Springs, MS
Real Estate and Accumulated Depreciation [Line Items]
Land	463
Buildings and Improvements	3,027
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,490
Accumulated Depreciation	110
Dollar General: | Cullman, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	159
Buildings and Improvements	824
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	983
Accumulated Depreciation	31
Dollar General: | Decatur, IL (Taylorville)
Real Estate and Accumulated Depreciation [Line Items]
Land	133
Buildings and Improvements	986
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,119
Accumulated Depreciation	40
Dollar General: | Decatur, IL (Eldorado)
Real Estate and Accumulated Depreciation [Line Items]
Land	219
Buildings and Improvements	964
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,183
Accumulated Depreciation	33
Dollar General: | Delcambre, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	169
Buildings and Improvements	1,025
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,194
Accumulated Depreciation	63
Dollar General: | Delhi, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	301
Buildings and Improvements	1,033
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,334
Accumulated Depreciation	65
Dollar General: | Deridder (Hwy 26), LA
Real Estate and Accumulated Depreciation [Line Items]
Land	135
Buildings and Improvements	923
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,058
Accumulated Depreciation	57
Dollar General: | Deridder (Hwy 190), LA
Real Estate and Accumulated Depreciation [Line Items]
Land	176
Buildings and Improvements	905
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,081
Accumulated Depreciation	58
Dollar General: | Des Moines, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	166
Buildings and Improvements	943
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,109
Accumulated Depreciation	60
Dollar General: | Dora, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	124
Buildings and Improvements	935
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,059
Accumulated Depreciation	32
Dollar General: | Dundee, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	296
Buildings and Improvements	1,047
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,343
Accumulated Depreciation	57
Dollar General: | Edinburg, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	146
Buildings and Improvements	809
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	955
Accumulated Depreciation	32
Dollar General: | Eight Mile, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	110
Buildings and Improvements	865
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	975
Accumulated Depreciation	36
Dollar General: | Elk Point, SD
Real Estate and Accumulated Depreciation [Line Items]
Land	97
Buildings and Improvements	839
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	936
Accumulated Depreciation	30
Dollar General: | Ellerslie, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	247
Buildings and Improvements	797
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,044
Accumulated Depreciation	37
Dollar General: | Eufaula, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	300
Buildings and Improvements	930
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,230
Accumulated Depreciation	37
Dollar General: | Farmington, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	175
Buildings and Improvements	919
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,094
Accumulated Depreciation	32
Dollar General: | Fort Valley, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	514
Buildings and Improvements	2,436
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,950
Accumulated Depreciation	172
Dollar General: | Fred, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	93
Buildings and Improvements	929
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,022
Accumulated Depreciation	51
Dollar General: | Fruitport, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	100
Buildings and Improvements	968
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,068
Accumulated Depreciation	38
Dollar General: | Geneva, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	738
Land	204
Buildings and Improvements	815
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,019
Accumulated Depreciation	74
Dollar General: | Geraldine, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	220
Buildings and Improvements	1,146
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,366
Accumulated Depreciation	51
Dollar General: | Greenwell Springs, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	870
Land	444
Buildings and Improvements	841
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,285
Accumulated Depreciation	72
Dollar General: | Groveport, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	822
Land	416
Buildings and Improvements	813
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,229
Accumulated Depreciation	66
Dollar General: | Hamilton, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	208
Buildings and Improvements	1,024
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,232
Accumulated Depreciation	33
Dollar General: | Hanceville, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,029
Land	1,232
Buildings and Improvements	1,488
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,720
Accumulated Depreciation	143
Dollar General: | Harlingen, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	144
Buildings and Improvements	853
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	997
Accumulated Depreciation	36
Dollar General: | Harvest, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	684
Land	261
Buildings and Improvements	691
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	952
Accumulated Depreciation	63
Dollar General: | Harviell, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	50
Buildings and Improvements	818
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	868
Accumulated Depreciation	40
Dollar General: | Hastings, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	177
Buildings and Improvements	850
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,027
Accumulated Depreciation	28
Dollar General: | Hayneville, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	249
Buildings and Improvements	1,181
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,430
Accumulated Depreciation	44
Dollar General: | Hillsboro, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	262
Buildings and Improvements	956
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,218
Accumulated Depreciation	32
Dollar General: | Hinton, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	199
Buildings and Improvements	1,367
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,566
Accumulated Depreciation	48
Dollar General: | Homeworth, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	110
Buildings and Improvements	1,057
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,167
Accumulated Depreciation	60
Dollar General: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	966
Land	311
Buildings and Improvements	1,102
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,413
Accumulated Depreciation	86
Dollar General: | Houston (Gears), TX
Real Estate and Accumulated Depreciation [Line Items]
Land	255
Buildings and Improvements	1,393
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,648
Accumulated Depreciation	79
Dollar General: | Huntsville, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	768
Land	177
Buildings and Improvements	847
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,024
Accumulated Depreciation	76
Dollar General: | Independence, MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	828
Land	170
Buildings and Improvements	1,072
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,242
Accumulated Depreciation	88
Dollar General: | Kansas City (Oak), MO
Real Estate and Accumulated Depreciation [Line Items]
Land	283
Buildings and Improvements	1,068
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,351
Accumulated Depreciation	63
Dollar General: | Kansas City (Troost), MO
Real Estate and Accumulated Depreciation [Line Items]
Land	233
Buildings and Improvements	1,054
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,287
Accumulated Depreciation	60
Dollar General: | Kasson, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	138
Buildings and Improvements	888
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,026
Accumulated Depreciation	35
Dollar General: | Kearney, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	141
Buildings and Improvements	851
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	992
Accumulated Depreciation	49
Dollar General: | Kinston, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	642
Land	170
Buildings and Improvements	718
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	888
Accumulated Depreciation	66
Dollar General: | Kolona, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	81
Buildings and Improvements	868
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	949
Accumulated Depreciation	32
Dollar General: | Lake Charles (Broad), LA
Real Estate and Accumulated Depreciation [Line Items]
Land	146
Buildings and Improvements	989
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,135
Accumulated Depreciation	63
Dollar General: | Lamesa, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	75
Buildings and Improvements	803
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	878
Accumulated Depreciation	32
Dollar General: | Lansing, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	232
Buildings and Improvements	939
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,171
Accumulated Depreciation	37
Dollar General: | Lebanon, TN
Real Estate and Accumulated Depreciation [Line Items]
Land	177
Buildings and Improvements	882
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,059
Accumulated Depreciation	35
Dollar General: | Leicester, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	134
Buildings and Improvements	800
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	934
Accumulated Depreciation	56
Dollar General: | Lima, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	810
Land	156
Buildings and Improvements	1,040
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,196
Accumulated Depreciation	84
Dollar General: | Linden, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	317
Buildings and Improvements	746
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,063
Accumulated Depreciation	51
Dollar General: | Lone Jack, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	152
Buildings and Improvements	960
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,112
Accumulated Depreciation	42
Dollar General: | Los Fresnos, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	55
Buildings and Improvements	867
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	922
Accumulated Depreciation	30
Dollar General: | Los Lunas, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	113
Buildings and Improvements	857
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	970
Accumulated Depreciation	38
Dollar General: | Louisburg, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	324
Buildings and Improvements	936
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,260
Accumulated Depreciation	39
Dollar General: | Loveland, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	241
Buildings and Improvements	1,065
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,306
Accumulated Depreciation	63
Dollar General: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	744
Land	468
Buildings and Improvements	641
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,109
Accumulated Depreciation	54
Dollar General: | Manhattan, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	194
Buildings and Improvements	921
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,115
Accumulated Depreciation	53
Dollar General: | Mansfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	72
Buildings and Improvements	1,226
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,298
Accumulated Depreciation	64
Dollar General: | Maple Lake, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	92
Buildings and Improvements	893
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	985
Accumulated Depreciation	31
Dollar General: | Maynardville, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	750
Land	238
Buildings and Improvements	754
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	992
Accumulated Depreciation	71
Dollar General: | Millbrook, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	320
Buildings and Improvements	1,175
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,495
Accumulated Depreciation	46
Dollar General: | Mission, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	182
Buildings and Improvements	858
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,040
Accumulated Depreciation	30
Dollar General: | Mobile (Newman), AL
Real Estate and Accumulated Depreciation [Line Items]
Land	139
Buildings and Improvements	1,005
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,144
Accumulated Depreciation	60
Dollar General: | Mobile (Schillinger), AL
Real Estate and Accumulated Depreciation [Line Items]
Land	410
Buildings and Improvements	1,059
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,469
Accumulated Depreciation	74
Dollar General: | Monroeville, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	131
Buildings and Improvements	1,069
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,200
Accumulated Depreciation	61
Dollar General: | Montgomery, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	140
Buildings and Improvements	909
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,049
Accumulated Depreciation	30
Dollar General: | Moose Lake, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	140
Buildings and Improvements	937
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,077
Accumulated Depreciation	$ 33

Schedule III - Real Estate As64

Schedule III - Real Estate Assets and Accumulated Depreciation - 3 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
Dollar General: | Moroa, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	111
Buildings and Improvements	921
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,032
Accumulated Depreciation	37
Dollar General: | Mt. Vernon, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	177
Buildings and Improvements	985
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,162
Accumulated Depreciation	42
Dollar General: | Nashville, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,088
Land	215
Buildings and Improvements	2,533
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,748
Accumulated Depreciation	203
Dollar General: | Nashville, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	103
Buildings and Improvements	1,255
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,358
Accumulated Depreciation	61
Dollar General: | Navarre, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	153
Buildings and Improvements	1,005
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,158
Accumulated Depreciation	59
Dollar General: | Neoga, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	94
Buildings and Improvements	860
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	954
Accumulated Depreciation	30
Dollar General: | Ness City, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	21
Buildings and Improvements	860
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	881
Accumulated Depreciation	42
Dollar General: | New Philadelphia, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	129
Buildings and Improvements	1,100
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,229
Accumulated Depreciation	65
Dollar General: | New Washington, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	99
Buildings and Improvements	975
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,074
Accumulated Depreciation	64
Dollar General: | Newark, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	792
Land	222
Buildings and Improvements	946
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,168
Accumulated Depreciation	77
Dollar General: | Nitro, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	451
Buildings and Improvements	1,034
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,485
Accumulated Depreciation	41
Dollar General: | Nixa, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	235
Buildings and Improvements	806
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,041
Accumulated Depreciation	38
Dollar General: | North Lewisburg, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	59
Buildings and Improvements	1,008
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,067
Accumulated Depreciation	61
Dollar General: | Onawa, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	176
Buildings and Improvements	842
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,018
Accumulated Depreciation	35
Dollar General: | Opelousas, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	92
Buildings and Improvements	947
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,039
Accumulated Depreciation	56
Dollar General: | Ortonville, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	113
Buildings and Improvements	907
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,020
Accumulated Depreciation	34
Dollar General: | Osceola, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	194
Buildings and Improvements	835
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,029
Accumulated Depreciation	16
Dollar General: | Oxford, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	465
Buildings and Improvements	783
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,248
Accumulated Depreciation	48
Dollar General: | Palestine, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	155
Buildings and Improvements	893
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,048
Accumulated Depreciation	36
Dollar General: | Parchment, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	168
Buildings and Improvements	1,162
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,330
Accumulated Depreciation	46
Dollar General: | Park Hill, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	91
Buildings and Improvements	887
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	978
Accumulated Depreciation	71
Dollar General: | Parsons, TN
Real Estate and Accumulated Depreciation [Line Items]
Land	166
Buildings and Improvements	1,136
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,302
Accumulated Depreciation	46
Dollar General: | Phenix City, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	331
Buildings and Improvements	718
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,049
Accumulated Depreciation	50
Dollar General: | Piedmont, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,980
Land	1,037
Buildings and Improvements	1,579
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,616
Accumulated Depreciation	153
Dollar General: | Pike Road, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	477
Buildings and Improvements	772
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,249
Accumulated Depreciation	50
Dollar General: | Plain City, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	187
Buildings and Improvements	1,097
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,284
Accumulated Depreciation	60
Dollar General: | Port Clinton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	120
Buildings and Improvements	1,070
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,190
Accumulated Depreciation	58
Dollar General: | Princeton, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	155
Buildings and Improvements	1,159
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,314
Accumulated Depreciation	38
Dollar General: | Pueblo, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	144
Buildings and Improvements	909
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,053
Accumulated Depreciation	69
Dollar General: | Ragley, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	196
Buildings and Improvements	877
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,073
Accumulated Depreciation	56
Dollar General: | Rainsville, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	290
Buildings and Improvements	1,267
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,557
Accumulated Depreciation	47
Dollar General: | Ravenna, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	199
Buildings and Improvements	958
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,157
Accumulated Depreciation	47
Dollar General: | Rayne, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	702
Land	125
Buildings and Improvements	910
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,035
Accumulated Depreciation	75
Dollar General: | Roanoke, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	93
Buildings and Improvements	846
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	939
Accumulated Depreciation	36
Dollar General: | Romney, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	87
Buildings and Improvements	827
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	914
Accumulated Depreciation	31
Dollar General: | Romulus, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	274
Buildings and Improvements	1,171
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,445
Accumulated Depreciation	54
Dollar General: | Russell, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	54
Buildings and Improvements	899
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	953
Accumulated Depreciation	34
Dollar General: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	295
Buildings and Improvements	743
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,038
Accumulated Depreciation	32
Dollar General: | San Carlos, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	70
Buildings and Improvements	1,063
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,133
Accumulated Depreciation	44
Dollar General: | Seale, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	259
Buildings and Improvements	767
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,026
Accumulated Depreciation	46
Dollar General: | Seminole, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	175
Buildings and Improvements	829
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,004
Accumulated Depreciation	56
Dollar General: | Shelby, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	128
Buildings and Improvements	1,033
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,161
Accumulated Depreciation	51
Dollar General: | Slocomb, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	124
Buildings and Improvements	918
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,042
Accumulated Depreciation	47
Dollar General: | Snead, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	126
Buildings and Improvements	1,137
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,263
Accumulated Depreciation	40
Dollar General: | South Bay, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	258
Buildings and Improvements	1,262
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,520
Accumulated Depreciation	53
Dollar General: | Spring, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	277
Buildings and Improvements	1,132
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,409
Accumulated Depreciation	67
Dollar General: | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	205
Buildings and Improvements	934
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,139
Accumulated Depreciation	31
Dollar General: | Springfield, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	171
Buildings and Improvements	810
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	981
Accumulated Depreciation	32
Dollar General: | Springfield, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	172
Buildings and Improvements	864
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,036
Accumulated Depreciation	38
Dollar General: | Springfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	125
Buildings and Improvements	1,000
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,125
Accumulated Depreciation	61
Dollar General: | St. Louis, MO (Grand)
Real Estate and Accumulated Depreciation [Line Items]
Land	240
Buildings and Improvements	1,118
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,358
Accumulated Depreciation	59
Dollar General: | St. Louis, MO (Lewis & Clark)
Real Estate and Accumulated Depreciation [Line Items]
Land	229
Buildings and Improvements	1,102
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,331
Accumulated Depreciation	60
Dollar General: | Superior, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	230
Buildings and Improvements	917
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,147
Accumulated Depreciation	52
Dollar General: | Temple, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	200
Buildings and Improvements	917
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,117
Accumulated Depreciation	65
Dollar General: | Theodore, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	248
Buildings and Improvements	763
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,011
Accumulated Depreciation	55
Dollar General: | Thibodaux, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	211
Buildings and Improvements	1,083
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,294
Accumulated Depreciation	66
Dollar General: | Toney, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	642
Land	86
Buildings and Improvements	792
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	878
Accumulated Depreciation	66
Dollar General: | Topeka, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	159
Buildings and Improvements	873
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,032
Accumulated Depreciation	21
Dollar General: | Urbana, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	133
Buildings and Improvements	1,051
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,184
Accumulated Depreciation	46
Dollar General: | Volga, SD
Real Estate and Accumulated Depreciation [Line Items]
Land	51
Buildings and Improvements	784
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	835
Accumulated Depreciation	28
Dollar General: | Waco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	26
Buildings and Improvements	922
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	948
Accumulated Depreciation	41
Dollar General: | Wagener, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	477
Buildings and Improvements	1,169
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,646
Accumulated Depreciation	39
Dollar General: | Wakefield, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	78
Buildings and Improvements	929
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,007
Accumulated Depreciation	58
Dollar General: | Waterloo, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	330
Buildings and Improvements	908
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,238
Accumulated Depreciation	27
Dollar General: | Weslaco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	141
Buildings and Improvements	848
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	989
Accumulated Depreciation	30
Dollar General: | Weston, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	117
Buildings and Improvements	1,012
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,129
Accumulated Depreciation	67
Dollar General: | Wetumpka, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	290
Buildings and Improvements	779
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,069
Accumulated Depreciation	35
Dollar General: | Whitehouse, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	134
Buildings and Improvements	1,144
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,278
Accumulated Depreciation	65
Dollar General: | Whitwell, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	870
Land	159
Buildings and Improvements	1,035
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,194
Accumulated Depreciation	97
Dollar General: | Wilmer, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	99
Buildings and Improvements	775
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	874
Accumulated Depreciation	50
Dollar General: | Winsted, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	152
Buildings and Improvements	841
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	993
Accumulated Depreciation	32
Dollar General: | Wisner, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	37
Buildings and Improvements	773
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	810
Accumulated Depreciation	34
Dollar General: | Woodville, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	786
Land	169
Buildings and Improvements	1,009
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,178
Accumulated Depreciation	83
Dollar General: | Yatesville, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	666
Land	120
Buildings and Improvements	797
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	917
Accumulated Depreciation	67
Dollar General: | Berry, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	104
Buildings and Improvements	1,196
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,300
Accumulated Depreciation	42
Dollar Tree/Petco: | Humble, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	720
Buildings and Improvements	2,543
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,263
Accumulated Depreciation	200
Earth Fare: | Huntersville, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,183
Land	1,439
Buildings and Improvements	2,973
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,412
Accumulated Depreciation	239
East Manchester Village Center: | Manchester, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,300
Land	2,517
Buildings and Improvements	12,672
Total Adjustment to Basis	202
Gross Amount at Which Carried At December 31, 2015	15,391
Accumulated Depreciation	720
East West Commons: | Austell, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	10,094
Buildings and Improvements	16,034
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	26,128
Accumulated Depreciation	659
Emerald Place: | Greenwood, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,250
Land	2,042
Buildings and Improvements	9,942
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,984
Accumulated Depreciation	677
Evergreen Marketplace: | Evergreen Park, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,823
Buildings and Improvements	6,239
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,062
Accumulated Depreciation	467
Fairview Village: | Cary, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,514
Buildings and Improvements	3,557
Total Adjustment to Basis	52
Gross Amount at Which Carried At December 31, 2015	6,123
Accumulated Depreciation	306
Family Center: | Riverdale, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	21,716
Buildings and Improvements	29,454
Total Adjustment to Basis	(1,013)
Gross Amount at Which Carried At December 31, 2015	50,157
Accumulated Depreciation	1,701
Family Dollar: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	357
Buildings and Improvements	966
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,323
Accumulated Depreciation	36
Family Dollar: | Topeka, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	419
Buildings and Improvements	1,327
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,746
Accumulated Depreciation	60
Family Dollar: | Aberdeen, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	101
Buildings and Improvements	1,054
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,155
Accumulated Depreciation	34
Family Dollar: | Adelanto, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	463
Buildings and Improvements	1,711
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,174
Accumulated Depreciation	50
Family Dollar: | Aguila, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	129
Buildings and Improvements	1,290
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,419
Accumulated Depreciation	29
Family Dollar: | Albany, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	347
Buildings and Improvements	925
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,272
Accumulated Depreciation	28
Family Dollar: | Apple Springs, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	91
Buildings and Improvements	804
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	895
Accumulated Depreciation	24
Family Dollar: | Arkadelphia, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	113
Buildings and Improvements	738
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	851
Accumulated Depreciation	17
Family Dollar: | Auburn, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings and Improvements	1,261
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,478
Accumulated Depreciation	27
Family Dollar: | Bagley, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	95
Buildings and Improvements	1,114
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,209
Accumulated Depreciation	48
Family Dollar: | Benavides, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	27
Buildings and Improvements	1,065
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,092
Accumulated Depreciation	57
Family Dollar: | Berry, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	122
Buildings and Improvements	880
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,002
Accumulated Depreciation	27
Family Dollar: | Bessemer, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	201
Buildings and Improvements	1,043
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,244
Accumulated Depreciation	57
Family Dollar: | Broadway, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	213
Buildings and Improvements	1,153
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,366
Accumulated Depreciation	36
Family Dollar: | Birmingham, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	500
Buildings and Improvements	831
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,331
Accumulated Depreciation	46
Family Dollar: | Brooksville, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	206
Buildings and Improvements	791
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	997
Accumulated Depreciation	44
Family Dollar: | Burkeville, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	54
Buildings and Improvements	900
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	954
Accumulated Depreciation	34
Family Dollar: | Cascade, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	267
Buildings and Improvements	1,147
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,414
Accumulated Depreciation	54
Family Dollar: | Cass Lake, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	157
Buildings and Improvements	1,107
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,264
Accumulated Depreciation	48
Family Dollar: | Cathedral City, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	658
Buildings and Improvements	1,908
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,566
Accumulated Depreciation	65
Family Dollar: | Charlotte, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	118
Buildings and Improvements	970
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,088
Accumulated Depreciation	52
Family Dollar: | Cheyenne, WY
Real Estate and Accumulated Depreciation [Line Items]
Land	148
Buildings and Improvements	986
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,134
Accumulated Depreciation	45
Family Dollar: | Coachella, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	450
Buildings and Improvements	1,634
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,084
Accumulated Depreciation	80
Family Dollar: | Cocoa, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	370
Buildings and Improvements	1,092
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,462
Accumulated Depreciation	37
Family Dollar: | Colmesneil, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	172
Buildings and Improvements	858
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,030
Accumulated Depreciation	40
Family Dollar: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	294
Buildings and Improvements	824
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,118
Accumulated Depreciation	27
Family Dollar: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	332
Buildings and Improvements	1,044
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,376
Accumulated Depreciation	33
Family Dollar: | Comanche, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	176
Buildings and Improvements	1,145
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,321
Accumulated Depreciation	42
Family Dollar: | Cordes Lakes, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	380
Buildings and Improvements	1,421
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,801
Accumulated Depreciation	47
Family Dollar: | Davenport, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	298
Buildings and Improvements	964
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,262
Accumulated Depreciation	27
Family Dollar: | Davenport, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	167
Buildings and Improvements	918
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,085
Accumulated Depreciation	28
Family Dollar: | Dawson, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	41
Buildings and Improvements	799
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	840
Accumulated Depreciation	24
Family Dollar: | Deadwood, SD
Real Estate and Accumulated Depreciation [Line Items]
Land	132
Buildings and Improvements	1,139
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,271
Accumulated Depreciation	38
Family Dollar: | Des Moines, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	290
Buildings and Improvements	1,126
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,416
Accumulated Depreciation	34
Family Dollar: | East Millinocket, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	161
Buildings and Improvements	1,004
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,165
Accumulated Depreciation	27
Family Dollar: | Eden, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	82
Buildings and Improvements	903
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	985
Accumulated Depreciation	46
Family Dollar: | Elizabethtown, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	107
Buildings and Improvements	671
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	778
Accumulated Depreciation	33
Family Dollar: | Eloy, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	86
Buildings and Improvements	1,587
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,673
Accumulated Depreciation	49
Family Dollar: | Empire, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	239
Buildings and Improvements	1,527
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,766
Accumulated Depreciation	62
Family Dollar: | Erwinville, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	146
Buildings and Improvements	765
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	911
Accumulated Depreciation	10
Family Dollar: | Evans, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	201
Buildings and Improvements	817
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,018
Accumulated Depreciation	27
Family Dollar: | Findlay, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	326
Buildings and Improvements	1,271
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,597
Accumulated Depreciation	66
Family Dollar: | Folsom, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	325
Buildings and Improvements	788
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,113
Accumulated Depreciation	$ 27

Schedule III - Real Estate As65

Schedule III - Real Estate Assets and Accumulated Depreciation - 4 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
Family Dollar: | Fort Lauderdale, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	443
Buildings and Improvements	1,361
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,804
Accumulated Depreciation	71
Family Dollar: | Fort Thomas, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	49
Buildings and Improvements	1,173
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,222
Accumulated Depreciation	56
Family Dollar: | Fort Wayne, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	258
Buildings and Improvements	1,096
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,354
Accumulated Depreciation	24
Family Dollar: | Fort Worth, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	532
Buildings and Improvements	1,346
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,878
Accumulated Depreciation	46
Family Dollar: | Franklin, NH
Real Estate and Accumulated Depreciation [Line Items]
Land	307
Buildings and Improvements	1,214
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,521
Accumulated Depreciation	8
Family Dollar: | Frederica, DE
Real Estate and Accumulated Depreciation [Line Items]
Land	392
Buildings and Improvements	1,164
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,556
Accumulated Depreciation	24
Family Dollar: | Freeport, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	322
Buildings and Improvements	959
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,281
Accumulated Depreciation	24
Family Dollar: | Fresno, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	488
Buildings and Improvements	1,553
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,041
Accumulated Depreciation	77
Family Dollar: | Garrison, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	61
Buildings and Improvements	1,306
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,367
Accumulated Depreciation	35
Family Dollar: | Georgetown, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	607
Buildings and Improvements	905
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,512
Accumulated Depreciation	28
Family Dollar: | Gering, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	244
Buildings and Improvements	913
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,157
Accumulated Depreciation	32
Family Dollar: | Greene, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	251
Buildings and Improvements	940
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,191
Accumulated Depreciation	23
Family Dollar: | Greenwood, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	154
Buildings and Improvements	920
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,074
Accumulated Depreciation	37
Family Dollar: | Harrisonburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	229
Buildings and Improvements	1,073
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,302
Accumulated Depreciation	31
Family Dollar: | Hawkins, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	49
Buildings and Improvements	1,288
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,337
Accumulated Depreciation	44
Family Dollar: | Hempstead, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	219
Buildings and Improvements	943
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,162
Accumulated Depreciation	25
Family Dollar: | Hettinger, ND
Real Estate and Accumulated Depreciation [Line Items]
Land	214
Buildings and Improvements	1,077
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,291
Accumulated Depreciation	57
Family Dollar: | Hodgenville, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	202
Buildings and Improvements	783
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	985
Accumulated Depreciation	27
Family Dollar: | Holtville, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	317
Buildings and Improvements	1,609
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,926
Accumulated Depreciation	79
Family Dollar: | Homestead, FL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Land	575
Buildings and Improvements	1,470
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,045
Accumulated Depreciation	2
Family Dollar: | Homosassa, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	325
Buildings and Improvements	1,001
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,326
Accumulated Depreciation	28
Family Dollar: | Immokalee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	458
Buildings and Improvements	1,248
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,706
Accumulated Depreciation	39
Family Dollar: | Indianapolis, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	238
Buildings and Improvements	1,117
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,355
Accumulated Depreciation	35
Family Dollar: | Indio, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	393
Buildings and Improvements	1,636
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,029
Accumulated Depreciation	66
Family Dollar: | Irvington, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings and Improvements	814
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,031
Accumulated Depreciation	45
Family Dollar: | Jacksonville, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	134
Buildings and Improvements	1,157
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,291
Accumulated Depreciation	34
Family Dollar: | Jay, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	190
Buildings and Improvements	1,002
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,192
Accumulated Depreciation	53
Family Dollar: | Jonesboro, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	297
Buildings and Improvements	1,098
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,395
Accumulated Depreciation	55
Family Dollar: | Keller, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	749
Buildings and Improvements	1,550
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,299
Accumulated Depreciation	70
Family Dollar: | Kersey, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	238
Buildings and Improvements	904
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,142
Accumulated Depreciation	39
Family Dollar: | Kiowa, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	193
Buildings and Improvements	947
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,140
Accumulated Depreciation	33
Family Dollar: | Kissimmee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	622
Buildings and Improvements	1,226
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,848
Accumulated Depreciation	45
Family Dollar: | La Salle, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	239
Buildings and Improvements	890
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,129
Accumulated Depreciation	27
Family Dollar: | LaBelle, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	268
Buildings and Improvements	1,037
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,305
Accumulated Depreciation	54
Family Dollar: | Lake Elsinor, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	417
Buildings and Improvements	1,682
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,099
Accumulated Depreciation	79
Family Dollar: | Lakeland, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	353
Buildings and Improvements	937
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,290
Accumulated Depreciation	39
Family Dollar: | Laredo, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	302
Buildings and Improvements	1,039
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,341
Accumulated Depreciation	34
Family Dollar: | Levelland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	264
Buildings and Improvements	952
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,216
Accumulated Depreciation	33
Family Dollar: | Little Rock, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	499
Buildings and Improvements	1,730
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,229
Accumulated Depreciation	40
Family Dollar: | Lorain, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	320
Buildings and Improvements	995
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,315
Accumulated Depreciation	41
Family Dollar: | Louisville (Bank), KY
Real Estate and Accumulated Depreciation [Line Items]
Land	578
Buildings and Improvements	919
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,497
Accumulated Depreciation	45
Family Dollar: | Louisville (Cane), KY
Real Estate and Accumulated Depreciation [Line Items]
Land	480
Buildings and Improvements	934
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,414
Accumulated Depreciation	39
Family Dollar: | Mahanoy City, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	209
Buildings and Improvements	1,112
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,321
Accumulated Depreciation	25
Family Dollar: | Mansfield, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	849
Buildings and Improvements	1,189
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,038
Accumulated Depreciation	59
Family Dollar: | Melbourne, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	362
Buildings and Improvements	883
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,245
Accumulated Depreciation	44
Family Dollar: | Melrose, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	124
Buildings and Improvements	929
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,053
Accumulated Depreciation	32
Family Dollar: | Mertzon, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	149
Buildings and Improvements	995
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,144
Accumulated Depreciation	37
Family Dollar: | Mesa, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	627
Buildings and Improvements	1,468
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,095
Accumulated Depreciation	67
Family Dollar: | Miami, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	584
Buildings and Improvements	1,490
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,074
Accumulated Depreciation	33
Family Dollar: | Milo, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	138
Buildings and Improvements	1,122
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,260
Accumulated Depreciation	27
Family Dollar: | Monroe, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	272
Buildings and Improvements	985
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,257
Accumulated Depreciation	32
Family Dollar: | Moore Haven, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	348
Buildings and Improvements	1,016
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,364
Accumulated Depreciation	46
Family Dollar: | Moulton, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	102
Buildings and Improvements	973
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,075
Accumulated Depreciation	52
Family Dollar: | Naubinway, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	47
Buildings and Improvements	1,180
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,227
Accumulated Depreciation	55
Family Dollar: | New Ellenton, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	160
Buildings and Improvements	800
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	960
Accumulated Depreciation	22
Family Dollar: | New Summerfield, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	230
Buildings and Improvements	851
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,081
Accumulated Depreciation	35
Family Dollar: | Nicholasville, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	464
Buildings and Improvements	826
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,290
Accumulated Depreciation	40
Family Dollar: | North Charleston, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	386
Buildings and Improvements	997
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,383
Accumulated Depreciation	30
Family Dollar: | North Hampton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	200
Buildings and Improvements	867
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,067
Accumulated Depreciation	22
Family Dollar: | Ocoee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	462
Buildings and Improvements	1,173
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,635
Accumulated Depreciation	35
Family Dollar: | Omaha, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	86
Buildings and Improvements	1,427
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,513
Accumulated Depreciation	30
Family Dollar: | Ordway, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	81
Buildings and Improvements	993
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,074
Accumulated Depreciation	32
Family Dollar: | Oshkosh, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	361
Buildings and Improvements	815
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,176
Accumulated Depreciation	41
Family Dollar: | Ossineke, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	85
Buildings and Improvements	898
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	983
Accumulated Depreciation	40
Family Dollar: | Palmdale, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	372
Buildings and Improvements	1,822
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,194
Accumulated Depreciation	38
Family Dollar: | Penitas, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	182
Buildings and Improvements	1,053
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,235
Accumulated Depreciation	50
Family Dollar: | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	509
Buildings and Improvements	791
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,300
Accumulated Depreciation	39
Family Dollar: | Pine Lake, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	639
Buildings and Improvements	897
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,536
Accumulated Depreciation	34
Family Dollar: | Pittsfield, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	334
Buildings and Improvements	1,258
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,592
Accumulated Depreciation	14
Family Dollar: | Plainview, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	112
Buildings and Improvements	774
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	886
Accumulated Depreciation	36
Family Dollar: | Poinciana, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	501
Buildings and Improvements	1,186
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,687
Accumulated Depreciation	41
Family Dollar: | Pojoaque, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	545
Buildings and Improvements	909
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,454
Accumulated Depreciation	33
Family Dollar: | Posen, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	101
Buildings and Improvements	896
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	997
Accumulated Depreciation	40
Family Dollar: | Preston, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	161
Buildings and Improvements	1,159
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,320
Accumulated Depreciation	50
Family Dollar: | Punta Gorda, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	345
Buildings and Improvements	1,018
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,363
Accumulated Depreciation	1
Family Dollar: | Radium Springs, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	129
Buildings and Improvements	1,086
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,215
Accumulated Depreciation	54
Family Dollar: | Ramah, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings and Improvements	1,105
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,322
Accumulated Depreciation	52
Family Dollar: | Rex, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	294
Buildings and Improvements	1,393
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,687
Accumulated Depreciation	41
Family Dollar: | Richmond, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	252
Buildings and Improvements	1,026
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,278
Accumulated Depreciation	25
Family Dollar: | Riverside, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	736
Buildings and Improvements	1,558
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,294
Accumulated Depreciation	70
Family Dollar: | Robert Lee, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	94
Buildings and Improvements	904
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	998
Accumulated Depreciation	45
Family Dollar: | Rushford, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	163
Buildings and Improvements	844
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,007
Accumulated Depreciation	38
Family Dollar: | Saginaw, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	240
Buildings and Improvements	956
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,196
Accumulated Depreciation	31
Family Dollar: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	357
Buildings and Improvements	966
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,323
Accumulated Depreciation	36
Family Dollar: | San Antonio, TX 2
Real Estate and Accumulated Depreciation [Line Items]
Land	421
Buildings and Improvements	951
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,372
Accumulated Depreciation	31
Family Dollar: | San Jacinto, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	430
Buildings and Improvements	1,682
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,112
Accumulated Depreciation	64
Family Dollar: | Schuyler, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	260
Buildings and Improvements	708
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	968
Accumulated Depreciation	32
Family Dollar: | Shreveport, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	406
Buildings and Improvements	978
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,384
Accumulated Depreciation	43
Family Dollar: | Shreveport, LA 2
Real Estate and Accumulated Depreciation [Line Items]
Land	272
Buildings and Improvements	1,113
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,385
Accumulated Depreciation	43
Family Dollar: | Shreveport, LA 3
Real Estate and Accumulated Depreciation [Line Items]
Land	423
Buildings and Improvements	1,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,522
Accumulated Depreciation	35
Family Dollar: | South Paris, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	173
Buildings and Improvements	1,240
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,413
Accumulated Depreciation	33
Family Dollar: | Spring Hill, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	278
Buildings and Improvements	1,249
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,527
Accumulated Depreciation	1
Family Dollar: | Spurger, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	86
Buildings and Improvements	905
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	991
Accumulated Depreciation	32
Family Dollar: | Statesboro, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	347
Buildings and Improvements	800
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,147
Accumulated Depreciation	41
Family Dollar: | Sterling City, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	78
Buildings and Improvements	889
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	967
Accumulated Depreciation	45
Family Dollar: | Stockton, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	202
Buildings and Improvements	1,817
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,019
Accumulated Depreciation	61
Family Dollar: | Summerfield, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	271
Buildings and Improvements	978
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,249
Accumulated Depreciation	27
Family Dollar: | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	189
Buildings and Improvements	1,212
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,401
Accumulated Depreciation	36
Family Dollar: | Taft, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	255
Buildings and Improvements	1,422
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,677
Accumulated Depreciation	88
Family Dollar: | Tampa (Cragmont), FL
Real Estate and Accumulated Depreciation [Line Items]
Land	563
Buildings and Improvements	737
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,300
Accumulated Depreciation	41
Family Dollar: | Tampa (Forest), FL
Real Estate and Accumulated Depreciation [Line Items]
Land	482
Buildings and Improvements	920
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,402
Accumulated Depreciation	50
Family Dollar: | Tampa (Hunt), FL
Real Estate and Accumulated Depreciation [Line Items]
Land	568
Buildings and Improvements	1,137
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,705
Accumulated Depreciation	46
Family Dollar: | Terra Bella, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	332
Buildings and Improvements	1,394
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,726
Accumulated Depreciation	69
Family Dollar: | Topeka, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	419
Buildings and Improvements	1,327
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,746
Accumulated Depreciation	60
Family Dollar: | Tucson, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	399
Buildings and Improvements	1,599
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,998
Accumulated Depreciation	40
Family Dollar: | Tyler, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	73
Buildings and Improvements	895
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	968
Accumulated Depreciation	40
Family Dollar: | Tuscaloosa, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	534
Buildings and Improvements	817
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,351
Accumulated Depreciation	46
Family Dollar: | Valdosta, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	424
Buildings and Improvements	849
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,273
Accumulated Depreciation	43
Family Dollar: | Vine Grove, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	205
Buildings and Improvements	966
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,171
Accumulated Depreciation	23
Family Dollar: | Waelder, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	136
Buildings and Improvements	788
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	924
Accumulated Depreciation	33
Family Dollar: | Walker, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	294
Buildings and Improvements	966
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,260
Accumulated Depreciation	33
Family Dollar: | Wayne, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	37
Buildings and Improvements	937
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	974
Accumulated Depreciation	39
Family Dollar: | Waynesburg, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	150
Buildings and Improvements	955
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,105
Accumulated Depreciation	31
Family Dollar: | Wild Rose, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	133
Buildings and Improvements	866
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	999
Accumulated Depreciation	35
Fargo Plaza: | Fargo, ND
Real Estate and Accumulated Depreciation [Line Items]
Land	2,097
Buildings and Improvements	4,774
Total Adjustment to Basis	376
Gross Amount at Which Carried At December 31, 2015	7,247
Accumulated Depreciation	429
Fleet Pride | Birmingham, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	376
Buildings and Improvements	2,607
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,983
Accumulated Depreciation	35
Flower Foods: | Orlando, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	418
Buildings and Improvements	387
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	805
Accumulated Depreciation	13
Flower Foods: | Waldorf, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	398
Buildings and Improvements	1,045
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,443
Accumulated Depreciation	40
Food 4 Less: | Atwater, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,383
Buildings and Improvements	5,271
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,654
Accumulated Depreciation	319
Fourth Creek Landing: | Statesville, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,700
Land	1,375
Buildings and Improvements	7,795
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,170
Accumulated Depreciation	744
Fresenius Medical Care: | West Plains, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	557
Buildings and Improvements	3,097
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,654
Accumulated Depreciation	117
Fresh Market Center: | Glen Ellyn, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,767
Buildings and Improvements	6,403
Total Adjustment to Basis	48
Gross Amount at Which Carried At December 31, 2015	9,218
Accumulated Depreciation	231
Fresh Thyme: | Indianapolis, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,087
Buildings and Improvements	6,019
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,106
Accumulated Depreciation	212
Fresh Thyme: | Northville, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,598
Buildings and Improvements	7,796
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,394
Accumulated Depreciation	9
Fresh Thyme & DSW: | Fort Wayne, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,740
Buildings and Improvements	4,153
Total Adjustment to Basis	101
Gross Amount at Which Carried At December 31, 2015	5,994
Accumulated Depreciation	154
Gander Mountain: | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,152
Buildings and Improvements	3,831
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,983
Accumulated Depreciation	178
Gander Mountain: | Waukesha, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	3,408
Buildings and Improvements	12,918
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	16,326
Accumulated Depreciation	422
Giant Eagle: | Seven Fields, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,530
Land	1,574
Buildings and Improvements	13,659
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	15,233
Accumulated Depreciation	575
Gold's Gym: | Corpus Christi, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,498
Buildings and Improvements	6,346
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,844
Accumulated Depreciation	480
Golden Corral: | Georgetown, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,048
Buildings and Improvements	1,452
Total Adjustment to Basis	(1,217)
Gross Amount at Which Carried At December 31, 2015	1,283
Accumulated Depreciation	0
Golden Corral: | Garland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,255
Buildings and Improvements	2,435
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,690
Accumulated Depreciation	217
Golden Corral: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,375
Buildings and Improvements	2,350
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,725
Accumulated Depreciation	195
Golden Corral: | Victoria, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	673
Buildings and Improvements	2,857
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,530
Accumulated Depreciation	112
Goodyear: | Pooler, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	569
Buildings and Improvements	1,484
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,053
Accumulated Depreciation	109
Hancock Village: | Chesterfield, VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,000
Land	8,874
Buildings and Improvements	17,287
Total Adjustment to Basis	96
Gross Amount at Which Carried At December 31, 2015	26,257
Accumulated Depreciation	1,443
Harbor Town Center | Manitowoc, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	3,568
Buildings and Improvements	13,209
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	16,777
Accumulated Depreciation	296
Haverty Furniture: | Midland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	709
Buildings and Improvements	1,294
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,003
Accumulated Depreciation	124
HEB Center: | Waxahachie, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,000
Land	3,465
Buildings and Improvements	7,952
Total Adjustment to Basis	287
Gross Amount at Which Carried At December 31, 2015	11,704
Accumulated Depreciation	763
Hickory Flat Commons: | Canton, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,850
Land	4,482
Buildings and Improvements	13,174
Total Adjustment to Basis	9
Gross Amount at Which Carried At December 31, 2015	17,665
Accumulated Depreciation	1,151
Hobby Lobby: | Burlington, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	629
Buildings and Improvements	1,890
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,519
Accumulated Depreciation	23
Hobby Lobby: | Dickson City, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,113
Buildings and Improvements	7,946
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,059
Accumulated Depreciation	470
Hobby Lobby: | Lewisville, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	2,184
Buildings and Improvements	8,977
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,161
Accumulated Depreciation	524
Hobby Lobby: | Mooresville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	869
Buildings and Improvements	4,249
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,118
Accumulated Depreciation	463
Home Depot: | Lincoln, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	6,339
Buildings and Improvements	5,937
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,276
Accumulated Depreciation	33
Home Depot: | North Canton, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,234
Land	2,203
Buildings and Improvements	12,012
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	14,215
Accumulated Depreciation	986
Home Depot: | Plainwell, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	521
Buildings and Improvements	11,905
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,426
Accumulated Depreciation	796
IHOP: | Anderson, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	54
Buildings and Improvements	1,633
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,687
Accumulated Depreciation	64
IHOP: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	408
Buildings and Improvements	1,783
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,191
Accumulated Depreciation	69
IHOP: | Columbus, OH 2
Real Estate and Accumulated Depreciation [Line Items]
Land	315
Buildings and Improvements	1,864
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,179
Accumulated Depreciation	72
IHOP: | Lancaster, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	157
Buildings and Improvements	1,497
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,654
Accumulated Depreciation	58
IHOP: | Rio Rancho, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	599
Buildings and Improvements	2,314
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,913
Accumulated Depreciation	104
IHOP: | Richmond, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	106
Buildings and Improvements	1,428
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,534
Accumulated Depreciation	56
Inglewood Plaza: | Inglewood, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,700
Land	9,880
Buildings and Improvements	14,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	23,979
Accumulated Depreciation	$ 493

Schedule III - Real Estate As66

Schedule III - Real Estate Assets and Accumulated Depreciation - 5 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
Kirklands: | Dothan, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	486
Buildings and Improvements	946
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,432
Accumulated Depreciation	46
Kirklands: | Jonesboro, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	696
Buildings and Improvements	1,990
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,686
Accumulated Depreciation	155
Kohl’s: | Cedar Falls, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,600
Buildings and Improvements	5,796
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,396
Accumulated Depreciation	478
Kohl’s: | Charlottesville, VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,745
Land	3,929
Buildings and Improvements	12,280
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	16,209
Accumulated Depreciation	465
Kohl’s: | Easton, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	2,962
Buildings and Improvements	2,661
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,623
Accumulated Depreciation	3
Kohl’s: | Hutchinson, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	3,290
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,290
Accumulated Depreciation	0
Kroger: | Shelton, WA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,180
Buildings and Improvements	11,040
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,220
Accumulated Depreciation	548
Kroger: | Whitehall, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,066
Land	581
Buildings and Improvements	6,628
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,209
Accumulated Depreciation	388
Kum & Go: | Bentonville (Central), AR
Real Estate and Accumulated Depreciation [Line Items]
Land	916
Buildings and Improvements	1,864
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,780
Accumulated Depreciation	129
Kum & Go: | Conway, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	510
Buildings and Improvements	2,577
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,087
Accumulated Depreciation	101
Kum & Go: | Fairfield, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	422
Buildings and Improvements	1,913
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,335
Accumulated Depreciation	133
Kum & Go: | Mount Vernon, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	708
Buildings and Improvements	1,756
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,464
Accumulated Depreciation	122
Kum & Go: | Urbandale, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	722
Buildings and Improvements	1,658
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,380
Accumulated Depreciation	116
L.A. Fitness: | Bloomfield Township, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,287
Buildings and Improvements	10,075
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,362
Accumulated Depreciation	722
L.A. Fitness: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	1,013
Buildings and Improvements	6,734
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,747
Accumulated Depreciation	131
L.A. Fitness: | Garland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	2,005
Buildings and Improvements	6,861
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,866
Accumulated Depreciation	367
L.A. Fitness: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	5,764
Buildings and Improvements	5,994
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,758
Accumulated Depreciation	365
L.A. Fitness: | Mesa, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	1,353
Buildings and Improvements	7,730
Total Adjustment to Basis	20
Gross Amount at Which Carried At December 31, 2015	9,103
Accumulated Depreciation	570
L.A. Fitness: | New Lenox, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,965
Buildings and Improvements	6,257
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,222
Accumulated Depreciation	7
L.A. Fitness: | Ocoee, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,173
Buildings and Improvements	6,876
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,049
Accumulated Depreciation	454
L.A. Fitness: | Riverside, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,557
Buildings and Improvements	9,951
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,508
Accumulated Depreciation	636
Lafayette Pavilions | Lafayette, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	7,632
Buildings and Improvements	42,497
Total Adjustment to Basis	3
Gross Amount at Which Carried At December 31, 2015	50,132
Accumulated Depreciation	1,260
Logan’s Roadhouse: | Bristol, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	991
Buildings and Improvements	2,560
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,551
Accumulated Depreciation	211
Logan’s Roadhouse: | Fort Wayne, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	868
Buildings and Improvements	2,698
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,566
Accumulated Depreciation	121
Logan’s Roadhouse: | Lancaster, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,203
Buildings and Improvements	1,620
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,823
Accumulated Depreciation	141
Logan’s Roadhouse: | Martinsburg, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	925
Buildings and Improvements	2,183
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,108
Accumulated Depreciation	123
Logan’s Roadhouse: | Opelika, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	836
Buildings and Improvements	1,508
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,344
Accumulated Depreciation	133
Logan’s Roadhouse: | Sanford, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,031
Buildings and Improvements	1,807
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,838
Accumulated Depreciation	158
Logan’s Roadhouse: | Troy, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	992
Buildings and Improvements	1,577
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,569
Accumulated Depreciation	136
Lowe’s: | Adrian, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,604
Buildings and Improvements	5,036
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,640
Accumulated Depreciation	399
Lowe’s: | Alpharetta, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,300
Land	7,979
Buildings and Improvements	9,630
Total Adjustment to Basis	403
Gross Amount at Which Carried At December 31, 2015	18,012
Accumulated Depreciation	171
Lowe’s: | Asheboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,098
Buildings and Improvements	6,722
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,820
Accumulated Depreciation	280
Lowe’s: | Cincinnati, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	14,092
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	14,092
Accumulated Depreciation	0
Lowe’s: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,964
Land	3,943
Buildings and Improvements	6,353
Total Adjustment to Basis	750
Gross Amount at Which Carried At December 31, 2015	11,046
Accumulated Depreciation	445
Lowe’s: | Covington, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,648
Land	10,233
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	10,233
Accumulated Depreciation	0
Lowe’s: | Hilliard, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,859
Land	5,474
Buildings and Improvements	6,288
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,762
Accumulated Depreciation	75
Lowe’s: | Lilburn, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,500
Land	8,817
Buildings and Improvements	9,380
Total Adjustment to Basis	385
Gross Amount at Which Carried At December 31, 2015	18,582
Accumulated Depreciation	167
Lowe’s: | Mansfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	873
Buildings and Improvements	8,256
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,129
Accumulated Depreciation	351
Lowe’s: | Marietta, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,000
Land	7,471
Buildings and Improvements	8,404
Total Adjustment to Basis	392
Gross Amount at Which Carried At December 31, 2015	16,267
Accumulated Depreciation	150
Lowe’s: | Oxford, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,668
Buildings and Improvements	7,622
Total Adjustment to Basis	369
Gross Amount at Which Carried At December 31, 2015	9,659
Accumulated Depreciation	604
Lowe’s: | Tuscaloosa, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	4,908
Buildings and Improvements	4,786
Total Adjustment to Basis	9
Gross Amount at Which Carried At December 31, 2015	9,703
Accumulated Depreciation	302
Lowe’s: | Woodstock, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,200
Land	7,316
Buildings and Improvements	8,879
Total Adjustment to Basis	392
Gross Amount at Which Carried At December 31, 2015	16,587
Accumulated Depreciation	159
Lowe’s: | Zanesville, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	2,161
Buildings and Improvements	8,375
Total Adjustment to Basis	282
Gross Amount at Which Carried At December 31, 2015	10,818
Accumulated Depreciation	461
Market Heights Shopping Center: | Harker Heights, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	47,000
Land	12,888
Buildings and Improvements	64,105
Total Adjustment to Basis	194
Gross Amount at Which Carried At December 31, 2015	77,187
Accumulated Depreciation	4,343
Marketplace at the Lakes: | West Covina, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,300
Land	10,020
Buildings and Improvements	8,664
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	18,684
Accumulated Depreciation	1,041
Matteson Center: | Matteson, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,243
Buildings and Improvements	17,427
Total Adjustment to Basis	420
Gross Amount at Which Carried At December 31, 2015	19,090
Accumulated Depreciation	1,248
Mattress Firm: | Jonesboro, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	729
Buildings and Improvements	1,194
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,923
Accumulated Depreciation	130
Mattress Firm: | Cincinnati, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	323
Buildings and Improvements	966
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,289
Accumulated Depreciation	38
Mattress Firm: | Appleton, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	895
Buildings and Improvements	1,026
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,921
Accumulated Depreciation	4
Mattress Firm: | Augusta, ME
Real Estate and Accumulated Depreciation [Line Items]
Land	723
Buildings and Improvements	1,354
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,077
Accumulated Depreciation	68
Mattress Firm: | Brunswick, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	343
Buildings and Improvements	1,040
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,383
Accumulated Depreciation	69
Mattress Firm: | Danville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	274
Buildings and Improvements	1,514
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,788
Accumulated Depreciation	69
Mattress Firm: | Huber Heights, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	854
Buildings and Improvements	903
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,757
Accumulated Depreciation	38
Mattress Firm: | Lakeland, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	259
Buildings and Improvements	1,107
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,366
Accumulated Depreciation	47
Mattress Firm: | Martinsville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	259
Buildings and Improvements	1,510
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,769
Accumulated Depreciation	14
Mattress Firm: | Middletown, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	142
Buildings and Improvements	1,384
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,526
Accumulated Depreciation	14
Mattress Firm: | Nampa, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	449
Buildings and Improvements	2,213
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,662
Accumulated Depreciation	104
Mattress Firm: | New Bern, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	340
Buildings and Improvements	1,436
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,776
Accumulated Depreciation	49
Mattress Firm: | Pineville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,557
Buildings and Improvements	1,198
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,755
Accumulated Depreciation	117
Mattress Firm: | Port Charlotte, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	382
Buildings and Improvements	1,211
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,593
Accumulated Depreciation	45
Mattress Firm: | Thomasville, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	694
Buildings and Improvements	1,469
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,163
Accumulated Depreciation	2
Mattress FIrm & Aspen Dental: | Vienna, WV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	774
Buildings and Improvements	2,466
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,240
Accumulated Depreciation	107
Mattress Firm & Five Guys: | Muskegon, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	813
Buildings and Improvements	1,766
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,579
Accumulated Depreciation	65
McAlister's Deli: | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	805
Buildings and Improvements	1,057
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,862
Accumulated Depreciation	48
McAlister's Deli: | Port Arthur, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	379
Buildings and Improvements	1,146
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,525
Accumulated Depreciation	62
Melody Mountain | Ashland, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,286
Buildings and Improvements	9,879
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,165
Accumulated Depreciation	77
Merchants Tire & Auto | Wake Forest, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	782
Buildings and Improvements	1,730
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,512
Accumulated Depreciation	13
Michael’s: | Bowling Green, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	587
Buildings and Improvements	1,992
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,579
Accumulated Depreciation	193
Morganton Heights | Morganton, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	7,032
Buildings and Improvements	29,763
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	36,795
Accumulated Depreciation	897
National Tire & Battery: | Cedar Hill, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	469
Buildings and Improvements	1,951
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,420
Accumulated Depreciation	152
National Tire & Battery: | Cypress, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	910
Buildings and Improvements	2,224
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,134
Accumulated Depreciation	18
National Tire & Battery: | Flower Mound, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	779
Buildings and Improvements	2,449
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,228
Accumulated Depreciation	19
National Tire & Battery: | Fort Worth, TX (Freeway)
Real Estate and Accumulated Depreciation [Line Items]
Land	936
Buildings and Improvements	1,234
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,170
Accumulated Depreciation	78
National Tire & Battery: | Fort Worth, TX (Quebec St.)
Real Estate and Accumulated Depreciation [Line Items]
Land	730
Buildings and Improvements	2,309
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,039
Accumulated Depreciation	18
National Tire & Battery: | Frisco, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	844
Buildings and Improvements	1,608
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,452
Accumulated Depreciation	101
National Tire & Battery: | Montgomery, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	516
Buildings and Improvements	2,494
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,010
Accumulated Depreciation	192
National Tire & Battery: | N. Richland Hills, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	513
Buildings and Improvements	2,579
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,092
Accumulated Depreciation	21
National Tire & Battery: | Pasadena, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	908
Buildings and Improvements	2,307
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,215
Accumulated Depreciation	19
National Tire & Battery: | Pearland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,016
Buildings and Improvements	2,040
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,056
Accumulated Depreciation	16
National Tire & Battery: | Plano, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,292
Buildings and Improvements	2,197
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,489
Accumulated Depreciation	18
National Tire & Battery: | Tomball, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	838
Buildings and Improvements	2,229
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,067
Accumulated Depreciation	18
Native Wings: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	821
Buildings and Improvements	2,682
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,503
Accumulated Depreciation	100
Natural Grocers: | Denton, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,326
Buildings and Improvements	3,134
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,460
Accumulated Depreciation	205
Natural Grocers: | Idaho Falls, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	833
Buildings and Improvements	2,316
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,149
Accumulated Depreciation	115
Natural Grocers: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,093
Buildings and Improvements	3,621
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,714
Accumulated Depreciation	253
Nordstrom Rack: | Tampa, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	3,371
Buildings and Improvements	6,402
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,773
Accumulated Depreciation	740
Northwest Plaza | Tampa, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,816
Buildings and Improvements	4,834
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,650
Accumulated Depreciation	56
O’Reilly Automotive: | Brownfield, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	22
Buildings and Improvements	835
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	857
Accumulated Depreciation	81
O’Reilly Automotive: | Columbus, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	260
Buildings and Improvements	757
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,017
Accumulated Depreciation	70
O’Reilly Automotive: | Lamesa, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	64
Buildings and Improvements	608
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	672
Accumulated Depreciation	16
O’Reilly Automotive: | Stanley, ND
Real Estate and Accumulated Depreciation [Line Items]
Land	323
Buildings and Improvements	662
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	985
Accumulated Depreciation	23
Park Place: | Enterprise, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,505
Land	931
Buildings and Improvements	8,595
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	9,526
Accumulated Depreciation	532
Pecanland Place | Monroe, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,206
Buildings and Improvements	18,957
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	21,163
Accumulated Depreciation	114
Pep Boys: | Clermont, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	799
Buildings and Improvements	1,993
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,792
Accumulated Depreciation	138
Pep Boys: | Oviedo, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	669
Buildings and Improvements	2,172
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,841
Accumulated Depreciation	132
PetSmart: | Baton Rouge, LA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,509
Land	651
Buildings and Improvements	2,968
Total Adjustment to Basis	113
Gross Amount at Which Carried At December 31, 2015	3,732
Accumulated Depreciation	292
PetSmart: | Commerce Township, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	539
Buildings and Improvements	1,960
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,499
Accumulated Depreciation	186
PetSmart: | East Peoria, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	997
Buildings and Improvements	3,345
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,342
Accumulated Depreciation	102
PetSmart: | Eden Prairie, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,279
Buildings and Improvements	2,030
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,309
Accumulated Depreciation	130
PetSmart: | Edmond, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	816
Buildings and Improvements	3,266
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,082
Accumulated Depreciation	257
PetSmart: | North Fayette Township, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,615
Buildings and Improvements	1,503
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,118
Accumulated Depreciation	116
PetSmart: | Overland Park, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	2,025
Buildings and Improvements	2,181
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,206
Accumulated Depreciation	131
PetSmart: | Taylor, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	331
Buildings and Improvements	2,438
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,769
Accumulated Depreciation	209
PetSmart: | Tucson, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	1,114
Buildings and Improvements	2,771
Total Adjustment to Basis	98
Gross Amount at Which Carried At December 31, 2015	3,983
Accumulated Depreciation	190
PetSmart: | Wilkesboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	447
Buildings and Improvements	1,710
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,157
Accumulated Depreciation	171
Petsmart/Old Navy: | Reynoldsburg, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	1,295
Buildings and Improvements	4,077
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,372
Accumulated Depreciation	371
Pick’N Save: | Pewaukee, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,323
Buildings and Improvements	6,761
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,084
Accumulated Depreciation	281
Pick’N Save: | Sheboygan, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,003
Buildings and Improvements	10,695
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,698
Accumulated Depreciation	929
Pick’N Save: | South Milwaukee, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,126
Buildings and Improvements	5,706
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,832
Accumulated Depreciation	315
Plainfield Plaza | Plainfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	3,167
Buildings and Improvements	14,788
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	17,955
Accumulated Depreciation	18
Plaza San Mateo: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,950
Land	2,867
Buildings and Improvements	11,582
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	14,449
Accumulated Depreciation	509
Popeyes: | Independence, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	333
Buildings and Improvements	680
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,013
Accumulated Depreciation	27
Poplar Springs Plaza: | Duncan, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,862
Buildings and Improvements	5,277
Total Adjustment to Basis	149
Gross Amount at Which Carried At December 31, 2015	7,288
Accumulated Depreciation	421
Price Chopper: | Gardner, MA
Real Estate and Accumulated Depreciation [Line Items]
Land	858
Buildings and Improvements	12,171
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	13,029
Accumulated Depreciation	405
Quick Chek: | Kingston, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	831
Buildings and Improvements	5,783
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,614
Accumulated Depreciation	388
Quick Chek: | Lake Katrine, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,507
Buildings and Improvements	4,569
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,076
Accumulated Depreciation	300
Quick Chek: | Middletown (Main), NY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,335
Buildings and Improvements	5,732
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,067
Accumulated Depreciation	384
Quick Chek: | Middletown, NY 1
Real Estate and Accumulated Depreciation [Line Items]
Land	1,297
Buildings and Improvements	5,963
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,260
Accumulated Depreciation	400
Quick Chek: | Middletown, NY 2
Real Estate and Accumulated Depreciation [Line Items]
Land	1,437
Buildings and Improvements	4,656
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,093
Accumulated Depreciation	314
Quick Chek: | Sagerties, NY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,242
Buildings and Improvements	5,372
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,614
Accumulated Depreciation	361
Raising Cane's: | Beaumont, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	839
Buildings and Improvements	1,288
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,127
Accumulated Depreciation	51
Raising Cane's: | Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	761
Buildings and Improvements	1,972
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,733
Accumulated Depreciation	88
Raising Cane's: | Wichita Falls, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	426
Buildings and Improvements	1,947
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,373
Accumulated Depreciation	84
Regent Towne Center | Fort Mill, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,455
Buildings and Improvements	5,063
Total Adjustment to Basis	29
Gross Amount at Which Carried At December 31, 2015	6,547
Accumulated Depreciation	396
Rite Aid | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	854
Buildings and Improvements	2,281
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,135
Accumulated Depreciation	125
Rite Aid | Jenison, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	438
Buildings and Improvements	1,491
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,929
Accumulated Depreciation	65
Rocky River Promenade | Mooresville, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,989
Land	2,446
Buildings and Improvements	3,159
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,605
Accumulated Depreciation	121
Ross | Fort Worth, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,273
Buildings and Improvements	3,157
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,430
Accumulated Depreciation	$ 287

Schedule III - Real Estate As67

Schedule III - Real Estate Assets and Accumulated Depreciation - 6 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
Rushmore Crossing: | Rapid City, SD
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	24,417
Land	7,066
Buildings and Improvements	33,019
Total Adjustment to Basis	66
Gross Amount at Which Carried At December 31, 2015	40,151
Accumulated Depreciation	2,316
Rushmore Crossing: | Rapid City, SD 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	883
Buildings and Improvements	4,128
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,011
Accumulated Depreciation	308
Sherwin-Williams | Macon, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	59
Buildings and Improvements	659
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	718
Accumulated Depreciation	12
Shippensburg Market Place: | Shippensburg, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,917
Buildings and Improvements	9,263
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,180
Accumulated Depreciation	335
Shopko: | Brokem Bow, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	244
Buildings and Improvements	1,733
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,977
Accumulated Depreciation	79
Shopko: | Cherokee, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings and Improvements	3,326
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,543
Accumulated Depreciation	4
Shopko: | Cokato, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	358
Buildings and Improvements	3,229
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,587
Accumulated Depreciation	4
Shopko: | Valentine, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	395
Buildings and Improvements	3,549
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,944
Accumulated Depreciation	161
Shoppes at Lake Andrew: | Melbourne, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	3,924
Buildings and Improvements	16,840
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	20,764
Accumulated Depreciation	1,079
Shoppes at Stroud: | Stroud Township, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,754
Buildings and Improvements	22,614
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	26,368
Accumulated Depreciation	808
Sleepy's | Joliet, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	287
Buildings and Improvements	1,552
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,839
Accumulated Depreciation	34
Sleepy's | Burlington, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	393
Buildings and Improvements	1,648
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,041
Accumulated Depreciation	33
Southwest Plaza: | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,992
Buildings and Improvements	48,935
Total Adjustment to Basis	7
Gross Amount at Which Carried At December 31, 2015	51,934
Accumulated Depreciation	2,158
Spinx: | Simpsonville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	591
Buildings and Improvements	969
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,560
Accumulated Depreciation	72
Springfield Commons | Springfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,745
Buildings and Improvements	15,049
Total Adjustment to Basis	52
Gross Amount at Which Carried At December 31, 2015	18,846
Accumulated Depreciation	285
Sprouts: | Bixby, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	1,320
Buildings and Improvements	7,117
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,437
Accumulated Depreciation	451
Staples | Plainfield, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	400
Buildings and Improvements	2,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,499
Accumulated Depreciation	50
Stoneridge Village: | Jefferson City, MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,830
Buildings and Improvements	9,351
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,181
Accumulated Depreciation	451
Stop & Shop | Brockton, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,241
Land	4,259
Buildings and Improvements	13,285
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	17,544
Accumulated Depreciation	197
Stripes: | Brownsville, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	210
Buildings and Improvements	2,386
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,596
Accumulated Depreciation	236
Stripes: | Brownwood, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	484
Buildings and Improvements	3,086
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,570
Accumulated Depreciation	294
Stripes: | Mcallen, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	604
Buildings and Improvements	1,909
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,513
Accumulated Depreciation	219
Stripes: | Midland, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	620
Buildings and Improvements	5,551
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,171
Accumulated Depreciation	489
Stripes: | Mission, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	215
Buildings and Improvements	2,170
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,385
Accumulated Depreciation	215
Stripes: | Odessa, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	569
Buildings and Improvements	4,940
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,509
Accumulated Depreciation	433
Summerfield Crossing: | Riverview, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	6,130
Buildings and Improvements	6,753
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,883
Accumulated Depreciation	466
Sunbelt Rentals: | Canton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	147
Buildings and Improvements	1,679
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,826
Accumulated Depreciation	127
Sunbelt Rentals: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	535
Buildings and Improvements	1,664
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,199
Accumulated Depreciation	75
Sunoco: | Cocoa, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	625
Buildings and Improvements	1,062
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,687
Accumulated Depreciation	73
Sunoco: | Mangonia Park, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	689
Buildings and Improvements	600
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,289
Accumulated Depreciation	41
Sunoco: | Merritt Island, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	610
Buildings and Improvements	1,123
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,733
Accumulated Depreciation	77
Sunoco: | Palm Beach Gardens, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,050
Buildings and Improvements	2,667
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,717
Accumulated Depreciation	181
Sunoco: | Palm City, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	667
Buildings and Improvements	1,698
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,365
Accumulated Depreciation	116
Sunoco: | Palm Springs, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	580
Buildings and Improvements	1,907
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,487
Accumulated Depreciation	130
Sunoco: | Sebastian, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	490
Buildings and Improvements	2,128
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,618
Accumulated Depreciation	145
Sunoco: | Titusville, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	626
Buildings and Improvements	2,534
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,160
Accumulated Depreciation	172
Sunoco: | West Palm Beach, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	637
Buildings and Improvements	443
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,080
Accumulated Depreciation	30
Sunoco Center: | Titusville (Sisson), FL
Real Estate and Accumulated Depreciation [Line Items]
Land	799
Buildings and Improvements	587
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,386
Accumulated Depreciation	41
Sutters Creek: | Rocky Mount, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,458
Buildings and Improvements	2,616
Total Adjustment to Basis	154
Gross Amount at Which Carried At December 31, 2015	4,228
Accumulated Depreciation	162
Sweet Tomatoes: | Overland Park, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	806
Buildings and Improvements	3,600
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,406
Accumulated Depreciation	161
Sweet Tomatoes: | St. Louis, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,254
Buildings and Improvements	3,354
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,608
Accumulated Depreciation	150
Target Center: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,450
Land	3,234
Buildings and Improvements	7,297
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	10,531
Accumulated Depreciation	358
Terrell Mill Village: | Marietta, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,500
Land	3,079
Buildings and Improvements	11,185
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	14,264
Accumulated Depreciation	643
TGI Friday's: | Chesapeake, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,217
Buildings and Improvements	1,388
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,605
Accumulated Depreciation	57
TGI Friday's: | Wilmington, DE
Real Estate and Accumulated Depreciation [Line Items]
Land	1,685
Buildings and Improvements	969
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,654
Accumulated Depreciation	41
The Market at Clifty Crossing: | Columbus, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	2,669
Buildings and Improvements	16,308
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	18,977
Accumulated Depreciation	1,039
The Market at Polaris: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	11,828
Buildings and Improvements	41,702
Total Adjustment to Basis	302
Gross Amount at Which Carried At December 31, 2015	53,832
Accumulated Depreciation	2,463
The Marquis: | Williamsburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,556
Land	2,615
Buildings and Improvements	11,406
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	14,021
Accumulated Depreciation	1,036
The Plant: | San Jose, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	123,000
Land	67,596
Buildings and Improvements	108,203
Total Adjustment to Basis	270
Gross Amount at Which Carried At December 31, 2015	176,069
Accumulated Depreciation	8,952
The Ridge at Turtle Creek | Hattiesburg, MS
Real Estate and Accumulated Depreciation [Line Items]
Land	2,749
Buildings and Improvements	12,434
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	15,183
Accumulated Depreciation	293
Tilted Kilt: | Killeen, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	1,378
Buildings and Improvements	1,508
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,886
Accumulated Depreciation	57
Tire Kingdom: | Bluffton, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	645
Buildings and Improvements	1,688
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,333
Accumulated Depreciation	13
Tire Kingdom: | Summerville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,208
Buildings and Improvements	1,233
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,441
Accumulated Depreciation	10
Tire Kingdom: | Tarpon Springs, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	427
Buildings and Improvements	1,458
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,885
Accumulated Depreciation	118
Tire Kingdom & Starbucks | Mt Pleasant, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,291
Buildings and Improvements	3,149
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,440
Accumulated Depreciation	24
TJ Maxx/Dollar Tree: | Oxford, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	641
Buildings and Improvements	2,673
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,314
Accumulated Depreciation	241
Tractor Supply: | Ashland, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	500
Buildings and Improvements	2,696
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,196
Accumulated Depreciation	152
Tractor Supply: | Augusta, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	407
Buildings and Improvements	2,315
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,722
Accumulated Depreciation	121
Tractor Supply: | Cambridge, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	807
Buildings and Improvements	1,272
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,079
Accumulated Depreciation	142
Tractor Supply: | Canon City, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	597
Buildings and Improvements	2,527
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,124
Accumulated Depreciation	197
Tractor Supply: | Fortuna, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	568
Buildings and Improvements	3,819
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,387
Accumulated Depreciation	159
Tractor Supply: | Lumberton, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	611
Buildings and Improvements	2,007
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,618
Accumulated Depreciation	151
Tractor Supply: | Marion, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,536
Buildings and Improvements	1,099
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,635
Accumulated Depreciation	60
Tractor Supply: | Monticello, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	448
Buildings and Improvements	1,916
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,364
Accumulated Depreciation	140
Tractor Supply: | Newnan, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,182
Buildings and Improvements	1,950
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,132
Accumulated Depreciation	166
Tractor Supply: | Petersburg, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	514
Buildings and Improvements	2,439
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,953
Accumulated Depreciation	143
Tractor Supply: | South Hill, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	630
Buildings and Improvements	2,179
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,809
Accumulated Depreciation	150
Tractor Supply: | Spencer, WV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,659
Land	455
Buildings and Improvements	2,188
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,643
Accumulated Depreciation	196
Tractor Supply: | Stuttgart, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,543
Land	47
Buildings and Improvements	2,519
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,566
Accumulated Depreciation	181
Tractor Supply: | Weaverville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	867
Buildings and Improvements	3,138
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,005
Accumulated Depreciation	196
Tractor Supply: | Woodward, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	446
Buildings and Improvements	1,973
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,419
Accumulated Depreciation	120
Trader Joe's: | Asheville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,770
Buildings and Improvements	3,766
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,536
Accumulated Depreciation	228
Trader Joe's: | Columbia, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,308
Buildings and Improvements	2,597
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,905
Accumulated Depreciation	213
Trader Joe's: | Wilmington, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,016
Buildings and Improvements	2,519
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,535
Accumulated Depreciation	212
Turfway Crossing: | Florence, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,261
Buildings and Improvements	10,323
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,584
Accumulated Depreciation	537
Ulta Salon: | Albany, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	441
Buildings and Improvements	1,757
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,198
Accumulated Depreciation	77
Ulta Salon: | Greeley, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	596
Buildings and Improvements	2,035
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,631
Accumulated Depreciation	43
United Oil: | Alhambra, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,032
Land	3,026
Buildings and Improvements	751
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,777
Accumulated Depreciation	24
United Oil: | Bellflower (Alondra), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	755
Land	1,312
Buildings and Improvements	576
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,888
Accumulated Depreciation	19
United Oil: | Bellflower (Lakewood), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,246
Buildings and Improvements	788
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,034
Accumulated Depreciation	26
United Oil: | Brea, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,393
Buildings and Improvements	658
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,051
Accumulated Depreciation	21
United Oil: | Burbank (Glenoaks), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,193
Land	3,474
Buildings and Improvements	594
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,068
Accumulated Depreciation	19
United Oil: | Burbank (Magnolia), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,484
Land	1,750
Buildings and Improvements	574
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,324
Accumulated Depreciation	19
United Oil: | Chino, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,167
Land	1,449
Buildings and Improvements	730
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,179
Accumulated Depreciation	24
United Oil: | Compton, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	805
Land	992
Buildings and Improvements	460
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,452
Accumulated Depreciation	15
United Oil: | El Cajon, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,533
Buildings and Improvements	568
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,101
Accumulated Depreciation	18
United Oil: | El Cajon (Second), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,225
Buildings and Improvements	368
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,593
Accumulated Depreciation	12
United Oil: | El Monte, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	766
Buildings and Improvements	510
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,276
Accumulated Depreciation	16
United Oil: | Escondido, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,107
Land	678
Buildings and Improvements	470
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,148
Accumulated Depreciation	15
United Oil: | Escondido (Mission), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,514
Buildings and Improvements	1,062
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,576
Accumulated Depreciation	$ 34

Schedule III - Real Estate As68

Schedule III - Real Estate Assets and Accumulated Depreciation - 7 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
United Oil: | Fountain Valley, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,459
Land	1,809
Buildings and Improvements	806
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,615
Accumulated Depreciation	26
United Oil: | Glendale, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,871
Buildings and Improvements	795
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,666
Accumulated Depreciation	26
United Oil: | Inglewood, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,809
Buildings and Improvements	878
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,687
Accumulated Depreciation	29
United Oil: | La Habra, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,971
Buildings and Improvements	571
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,542
Accumulated Depreciation	18
United Oil: | Lawndale, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,462
Buildings and Improvements	862
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,324
Accumulated Depreciation	28
United Oil: | Long Beach (Anaheim), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,061
Land	974
Buildings and Improvements	772
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,746
Accumulated Depreciation	25
United Oil: | Long Beach (Atlantic), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,778
Buildings and Improvements	883
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,661
Accumulated Depreciation	29
United Oil: | Long Beach (Santa Fe), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,288
Land	1,972
Buildings and Improvements	643
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,615
Accumulated Depreciation	21
United Oil: | Los Angeles (2503 W. Pico), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,334
Buildings and Improvements	717
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,051
Accumulated Depreciation	23
United Oil: | Los Angeles (4931 W. Pico), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,552
Buildings and Improvements	1,242
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,794
Accumulated Depreciation	40
United Oil: | Los Angeles (Eastern), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,745
Buildings and Improvements	669
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,414
Accumulated Depreciation	22
United Oil: | Los Angeles (Jefferson), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,923
Land	3,823
Buildings and Improvements	825
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,648
Accumulated Depreciation	27
United Oil: | Los Angeles (Marina Del R), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,930
Buildings and Improvements	428
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,358
Accumulated Depreciation	14
United Oil: | Los Angeles (Olympic), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,590
Land	1,710
Buildings and Improvements	905
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,615
Accumulated Depreciation	29
United Oil: | Los Angeles (Slauson), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,927
Buildings and Improvements	1,484
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,411
Accumulated Depreciation	48
United Oil: | Los Angeles (Western), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,182
Buildings and Improvements	701
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,883
Accumulated Depreciation	23
United Oil: | Lynwood, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,640
Land	2,386
Buildings and Improvements	737
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,123
Accumulated Depreciation	24
United Oil: | Menifee, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,284
Land	2,853
Buildings and Improvements	924
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,777
Accumulated Depreciation	30
United Oil: | Monrovia, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,660
Land	2,365
Buildings and Improvements	686
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,051
Accumulated Depreciation	22
United Oil: | Norco (Hidden Valley), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,852
Buildings and Improvements	1,489
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,341
Accumulated Depreciation	48
United Oil: | Norco (Sixth), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,424
Land	1,869
Buildings and Improvements	891
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,760
Accumulated Depreciation	29
United Oil: | North Hollywood, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,998
Land	4,663
Buildings and Improvements	858
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,521
Accumulated Depreciation	28
United Oil: | Oceanside, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,264
Land	2,163
Buildings and Improvements	1,248
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,411
Accumulated Depreciation	41
United Oil: | Paramount, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	664
Land	1,301
Buildings and Improvements	1,024
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,325
Accumulated Depreciation	33
United Oil: | Pomona, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,273
Land	1,740
Buildings and Improvements	730
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,470
Accumulated Depreciation	24
United Oil: | Poway, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,072
Buildings and Improvements	705
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,777
Accumulated Depreciation	23
United Oil: | San Diego (47th St), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,977
Buildings and Improvements	1,448
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,425
Accumulated Depreciation	47
United Oil: | San Diego (Governor), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,877
Buildings and Improvements	883
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,760
Accumulated Depreciation	29
United Oil: | San Diego (Rancho Penasquitos), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,038
Land	1,215
Buildings and Improvements	841
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,056
Accumulated Depreciation	27
United Oil: | San Diego (Sunset Cliffs), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,824
Buildings and Improvements	382
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,206
Accumulated Depreciation	12
United Oil: | San Pedro, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,655
Land	2,086
Buildings and Improvements	675
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,761
Accumulated Depreciation	22
United Oil: | Santa Clarita, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,787
Buildings and Improvements	733
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,520
Accumulated Depreciation	24
United Oil: | Sun City, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,136
Buildings and Improvements	1,421
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,557
Accumulated Depreciation	46
United Oil: | Valley Center, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,284
Land	2,680
Buildings and Improvements	1,606
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,286
Accumulated Depreciation	52
United Oil: | Van Nuys (Van Nuys), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,284
Land	2,439
Buildings and Improvements	902
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,341
Accumulated Depreciation	29
United Oil: | Van Nuys (Victory), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,152
Land	1,786
Buildings and Improvements	684
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,470
Accumulated Depreciation	22
United Oil: | Van Nuys (Woodman), CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,681
Land	3,980
Buildings and Improvements	741
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,721
Accumulated Depreciation	24
United Oil: | Vista (Civic Center), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,063
Buildings and Improvements	334
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,397
Accumulated Depreciation	11
United Oil: | Vista (Vista), CA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,028
Buildings and Improvements	418
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,446
Accumulated Depreciation	14
United Oil: | Whittier, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,629
Buildings and Improvements	985
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,614
Accumulated Depreciation	32
United Oil: | Wilmington, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,680
Land	1,615
Buildings and Improvements	1,145
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,760
Accumulated Depreciation	37
United Oil: | Woodland Hills, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,159
Land	4,946
Buildings and Improvements	647
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,593
Accumulated Depreciation	21
University Marketplace: | Marion, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,050
Land	850
Buildings and Improvements	6,722
Total Adjustment to Basis	121
Gross Amount at Which Carried At December 31, 2015	7,693
Accumulated Depreciation	642
Ventura Place | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	5,203
Buildings and Improvements	7,998
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	13,201
Accumulated Depreciation	189
Village at Hereford Farms: | Grovetown, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,250
Land	1,222
Buildings and Improvements	5,912
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,134
Accumulated Depreciation	212
Wal-Mart: | Anderson, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,424
Buildings and Improvements	9,719
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	12,143
Accumulated Depreciation	31
Wal-Mart: | Florence, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,013
Buildings and Improvements	9,225
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,238
Accumulated Depreciation	29
Wal-Mart: | Perry, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,095
Land	2,270
Buildings and Improvements	11,053
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	13,323
Accumulated Depreciation	797
Wal-Mart: | Summerville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,410
Buildings and Improvements	2,098
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,508
Accumulated Depreciation	17
Wal-Mart: | Tallahassee, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,157
Land	14,823
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	14,823
Accumulated Depreciation	0
Wal-Mart: | York, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,913
Buildings and Improvements	11,410
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	13,323
Accumulated Depreciation	817
Walgreens | Andover, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	630
Buildings and Improvements	3,057
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,687
Accumulated Depreciation	199
Walgreens | Arkadelphia, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,225
Land	787
Buildings and Improvements	4,626
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,413
Accumulated Depreciation	132
Walgreens | Austintown, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	637
Buildings and Improvements	4,173
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,810
Accumulated Depreciation	251
Walgreens | Bartlett (5950 Stage), TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,150
Land	1,086
Buildings and Improvements	4,321
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,407
Accumulated Depreciation	129
Walgreens | Bartlett (6697 Stage), TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,150
Land	799
Buildings and Improvements	4,608
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,407
Accumulated Depreciation	137
Walgreens | Birmingham, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	985
Buildings and Improvements	4,938
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,923
Accumulated Depreciation	341
Walgreens | Birmingham (Green Springs), AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,300
Land	738
Buildings and Improvements	4,844
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,582
Accumulated Depreciation	144
Walgreens | Blair, NE
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,466
Land	335
Buildings and Improvements	3,544
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,879
Accumulated Depreciation	333
Walgreens | Chicopee, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,894
Land	2,094
Buildings and Improvements	4,945
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,039
Accumulated Depreciation	150
Walgreens | Colerain Township, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,200
Land	1,991
Buildings and Improvements	3,470
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,461
Accumulated Depreciation	101
Walgreens | Connelly Springs, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,349
Buildings and Improvements	3,628
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,977
Accumulated Depreciation	223
Walgreens | Cullman, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,542
Land	1,292
Buildings and Improvements	3,779
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,071
Accumulated Depreciation	280
Walgreens | Danville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	989
Buildings and Improvements	4,547
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,536
Accumulated Depreciation	370
Walgreens | Dearborn Heights, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,236
Buildings and Improvements	3,411
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,647
Accumulated Depreciation	217
Walgreens | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,625
Land	631
Buildings and Improvements	4,161
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,792
Accumulated Depreciation	124
Walgreens | Dyersburg, TN
Real Estate and Accumulated Depreciation [Line Items]
Land	555
Buildings and Improvements	4,088
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,643
Accumulated Depreciation	163
Walgreens | East Chicago, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	331
Buildings and Improvements	5,242
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,573
Accumulated Depreciation	181
Walgreens | Enterprise, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,575
Land	839
Buildings and Improvements	3,844
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,683
Accumulated Depreciation	115
Walgreens | Evansville, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,040
Land	812
Buildings and Improvements	4,439
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,251
Accumulated Depreciation	133
Walgreens | Florence, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,125
Land	1,086
Buildings and Improvements	4,206
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,292
Accumulated Depreciation	122
Walgreens | Forrest City, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,825
Land	643
Buildings and Improvements	5,287
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,930
Accumulated Depreciation	157
Walgreens | Fort Madison, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	514
Buildings and Improvements	3,723
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,237
Accumulated Depreciation	220
Walgreens | Franklin, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,200
Land	1,457
Buildings and Improvements	4,075
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,532
Accumulated Depreciation	122
Walgreens | Fraser, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	518
Buildings and Improvements	4,525
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,043
Accumulated Depreciation	191
Walgreens | Hazelwood, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	2,505
Buildings and Improvements	4,866
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,371
Accumulated Depreciation	280
Walgreens | Hickory, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,100
Buildings and Improvements	4,241
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,341
Accumulated Depreciation	317
Walgreens | Hobart, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,875
Land	594
Buildings and Improvements	4,526
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,120
Accumulated Depreciation	134
Walgreens | Hockessin, DE
Real Estate and Accumulated Depreciation [Line Items]
Land	1,586
Buildings and Improvements	3,555
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,141
Accumulated Depreciation	203
Walgreens | Huntsville, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,273
Land	1,931
Buildings and Improvements	2,457
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,388
Accumulated Depreciation	190
Walgreens | Kannapolis, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,966
Land	1,480
Buildings and Improvements	5,031
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,511
Accumulated Depreciation	329
Walgreens | Knoxville, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,725
Land	1,139
Buildings and Improvements	3,750
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,889
Accumulated Depreciation	112
Walgreens | Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Land	2,325
Buildings and Improvements	3,262
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,587
Accumulated Depreciation	195
Walgreens | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	860
Buildings and Improvements	2,539
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,399
Accumulated Depreciation	162
Walgreens | Little Rock (Main), AR
Real Estate and Accumulated Depreciation [Line Items]
Land	548
Buildings and Improvements	4,676
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,224
Accumulated Depreciation	181
Walgreens | Little Rock (Bowman), AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,100
Land	1,115
Buildings and Improvements	4,248
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,363
Accumulated Depreciation	127
Walgreens | Lubbock (82nd), TX
Real Estate and Accumulated Depreciation [Line Items]
Land	565
Buildings and Improvements	3,257
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,822
Accumulated Depreciation	267
Walgreens | Lubbock (Indiana), TX
Real Estate and Accumulated Depreciation [Line Items]
Land	531
Buildings and Improvements	2,951
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,482
Accumulated Depreciation	240
Walgreens | Malvern, AR
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,165
Land	1,007
Buildings and Improvements	4,325
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,332
Accumulated Depreciation	123
Walgreens | Memphis, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,775
Land	776
Buildings and Improvements	4,166
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,942
Accumulated Depreciation	124
Walgreens | Metropolis, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	284
Buildings and Improvements	4,991
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,275
Accumulated Depreciation	172
Walgreens | Michigan City, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,200
Land	567
Buildings and Improvements	3,615
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,182
Accumulated Depreciation	109
Walgreens | Mobile, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,603
Buildings and Improvements	3,161
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,764
Accumulated Depreciation	176
Walgreens | Montgomery, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,110
Buildings and Improvements	2,949
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,059
Accumulated Depreciation	280
Walgreens | Mount Washington, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,125
Land	545
Buildings and Improvements	4,825
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,370
Accumulated Depreciation	143
Walgreens | Oakland, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,750
Land	689
Buildings and Improvements	4,226
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,915
Accumulated Depreciation	125
Walgreens | Oklahoma City, OK
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,950
Land	1,356
Buildings and Improvements	3,869
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,225
Accumulated Depreciation	118
Walgreens | Olathe, KS
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,230
Land	1,266
Buildings and Improvements	4,047
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,313
Accumulated Depreciation	120
Walgreens | Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	2,216
Buildings and Improvements	1,830
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,046
Accumulated Depreciation	137
Walgreens | Pine Bluff, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	248
Buildings and Improvements	5,229
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,477
Accumulated Depreciation	309
Walgreens | Ralston (La Vista), NE
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,265
Land	967
Buildings and Improvements	4,620
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,587
Accumulated Depreciation	137
Walgreens | River Falls, WI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,200
Land	634
Buildings and Improvements	5,137
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,771
Accumulated Depreciation	151
Walgreens | Roanoke, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	677
Buildings and Improvements	3,825
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,502
Accumulated Depreciation	161
Walgreens | Sacramento, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	324
Buildings and Improvements	2,669
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,993
Accumulated Depreciation	108
Walgreens | Sioux Falls, SD
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,625
Land	1,138
Buildings and Improvements	3,784
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,922
Accumulated Depreciation	113
Walgreens | Springdale, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	1,172
Buildings and Improvements	4,509
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,681
Accumulated Depreciation	254
Walgreens | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	830
Buildings and Improvements	3,619
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,449
Accumulated Depreciation	338
Walgreens | St. Charles, MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,600
Land	1,644
Buildings and Improvements	4,364
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,008
Accumulated Depreciation	130
Walgreens | St. Louis (Lemay Ferry), MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,600
Land	1,432
Buildings and Improvements	4,556
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,988
Accumulated Depreciation	136
Walgreens | St. Louis (Lusher), MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,790
Land	1,414
Buildings and Improvements	4,622
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,036
Accumulated Depreciation	$ 138

Schedule III - Real Estate As69

Schedule III - Real Estate Assets and Accumulated Depreciation - 8 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 950,128
Land	1,113,456
Buildings and Improvements	2,990,901
Total Adjustment to Basis	81,248
Gross Amount at Which Carried At December 31, 2015	4,185,605	$ 3,590,939	$ 1,960,708	$ 464,539
Accumulated Depreciation	158,805	$ 78,186	$ 23,377	$ 1,743
Walgreens | Suffolk Virgina
Real Estate and Accumulated Depreciation [Line Items]
Land	1,261
Buildings and Improvements	3,461
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,722
Accumulated Depreciation	339
Walgreens | Sun City, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	837
Buildings and Improvements	2,484
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	3,321
Accumulated Depreciation	109
Walgreens | Tarboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	755
Buildings and Improvements	3,634
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,389
Accumulated Depreciation	128
Walgreens | Toledo, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,325
Land	1,993
Buildings and Improvements	3,445
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,438
Accumulated Depreciation	104
Walgreens | Troy, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	547
Buildings and Improvements	4,076
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,623
Accumulated Depreciation	149
Walgreens | Tulsa, OK
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,350
Land	1,078
Buildings and Improvements	3,453
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,531
Accumulated Depreciation	104
Walgreens/KeyBank | Newburgh, NY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,000
Land	3,280
Buildings and Improvements	5,441
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	8,721
Accumulated Depreciation	312
Wallace Commons | Salisbury, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,590
Land	3,265
Buildings and Improvements	8,058
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	11,323
Accumulated Depreciation	654
Wallace Commons 2 [Member] | Salisbury, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,012
Land	2,231
Buildings and Improvements	8,479
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	10,710
Accumulated Depreciation	447
Warrenton Highlands | Warrenton, OR
Real Estate and Accumulated Depreciation [Line Items]
Land	2,139
Buildings and Improvements	5,774
Total Adjustment to Basis	138
Gross Amount at Which Carried At December 31, 2015	8,051
Accumulated Depreciation	491
Waterford South Park: | Clarksville, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	2,946
Buildings and Improvements	8,564
Total Adjustment to Basis	45
Gross Amount at Which Carried At December 31, 2015	11,555
Accumulated Depreciation	761
Wawa: | Cape May, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	1,576
Buildings and Improvements	5,790
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,366
Accumulated Depreciation	504
Wawa: | Galloway, NJ
Real Estate and Accumulated Depreciation [Line Items]
Land	1,724
Buildings and Improvements	6,105
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	7,829
Accumulated Depreciation	531
Wendy's: | Grafton, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	539
Buildings and Improvements	894
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,433
Accumulated Depreciation	35
Wendy's: | Westminster, CO
Real Estate and Accumulated Depreciation [Line Items]
Land	596
Buildings and Improvements	1,108
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,704
Accumulated Depreciation	43
Western Refining Inc | Benson, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	566
Land	186
Buildings and Improvements	510
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	696
Accumulated Depreciation	33
Western Refining Inc | Bisbee, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	399
Land	89
Buildings and Improvements	137
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	226
Accumulated Depreciation	10
Western Refining Inc | Coolidge, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	472
Land	578
Buildings and Improvements	283
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	861
Accumulated Depreciation	26
Western Refining Inc | Douglas (16th St.), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	913
Land	136
Buildings and Improvements	1,080
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,216
Accumulated Depreciation	54
Western Refining Inc | Douglas (18th St.), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	718
Land	89
Buildings and Improvements	385
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	474
Accumulated Depreciation	20
Western Refining Inc | Florence, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	446
Land	363
Buildings and Improvements	338
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	701
Accumulated Depreciation	25
Western Refining Inc | Globe, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,264
Land	572
Buildings and Improvements	311
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	883
Accumulated Depreciation	27
Western Refining Inc | Hereford, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,531
Land	303
Buildings and Improvements	879
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,182
Accumulated Depreciation	50
Western Refining Inc | Marana, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,458
Land	389
Buildings and Improvements	493
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	882
Accumulated Depreciation	30
Western Refining Inc | Pearce, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	750
Land	116
Buildings and Improvements	380
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	496
Accumulated Depreciation	23
Western Refining Inc | Pima, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,196
Land	372
Buildings and Improvements	362
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	734
Accumulated Depreciation	36
Western Refining Inc | Safford (Hwy 70), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,054
Land	77
Buildings and Improvements	281
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	358
Accumulated Depreciation	24
Western Refining Inc | Safford (Thatcher Blvd.), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,169
Land	204
Buildings and Improvements	299
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	503
Accumulated Depreciation	18
Western Refining Inc | Safford (8th Ave.), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,280
Land	107
Buildings and Improvements	408
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	515
Accumulated Depreciation	24
Western Refining Inc | Sierra Vista, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	488
Land	87
Buildings and Improvements	723
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	810
Accumulated Depreciation	32
Western Refining Inc | Thatcher, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,180
Land	140
Buildings and Improvements	561
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	701
Accumulated Depreciation	40
Western Refining Inc | Tucson (Sierrita Mountain), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	524
Land	569
Buildings and Improvements	453
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,022
Accumulated Depreciation	35
Western Refining Inc | Tucson (Speedway), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	603
Land	473
Buildings and Improvements	388
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	861
Accumulated Depreciation	30
Western Refining Inc | Tucson (4301 Broadway), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	582
Land	263
Buildings and Improvements	170
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	433
Accumulated Depreciation	18
Western Refining Inc | Tucson (Ajo Hwy), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	666
Land	770
Buildings and Improvements	332
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,102
Accumulated Depreciation	34
Western Refining Inc | Tucson (6280 Broadway), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	571
Land	333
Buildings and Improvements	167
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	500
Accumulated Depreciation	21
Western Refining Inc | Tucson (6777 Sandario), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,190
Land	397
Buildings and Improvements	542
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	939
Accumulated Depreciation	43
Western Refining Inc | Tucson (6890 Sandario), AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	523
Land	525
Buildings and Improvements	606
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	1,131
Accumulated Depreciation	36
Western Refining Inc | Winkelman, AZ
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	953
Land	287
Buildings and Improvements	403
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	690
Accumulated Depreciation	29
West Marine | Panama City, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	676
Buildings and Improvements	2,219
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	2,895
Accumulated Depreciation	50
West Marine | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	1,107
Buildings and Improvements	3,398
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,505
Accumulated Depreciation	89
Westover Market: | San Antonio, TX
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,200
Land	2,705
Buildings and Improvements	7,959
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	10,664
Accumulated Depreciation	591
Whole Foods: | Fort Collins, CO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,500
Land	2,664
Buildings and Improvements	17,166
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	19,830
Accumulated Depreciation	630
Winn-Dixie: | Baton Rouge, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,782
Buildings and Improvements	3,776
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	5,558
Accumulated Depreciation	149
Winn-Dixie: | Walker, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	900
Buildings and Improvements	3,909
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	4,809
Accumulated Depreciation	154
Woods Supermarket: | Sunrise Beach, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,044
Buildings and Improvements	5,005
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2015	6,049
Accumulated Depreciation	$ 296