CIM Real Estate Finance Trust (CMRF) 10-K 30 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2019	Mar. 16, 2020	Jun. 30, 2019
Document and Entity Information
Entity Registrant Name	CIM REAL ESTATE FINANCE TRUST, INC.
Entity Central Index Key	0001498547
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity common stock, shares outstanding (shares)		311.2
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 2.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate assets:
Land	$ 700,210	$ 1,172,449
Buildings, fixtures and improvements	1,830,101	3,271,592
Intangible lease assets	313,127	554,868
Total real estate assets, at cost	2,843,438	4,998,909
Less: accumulated depreciation and amortization	(374,103)	(597,756)
Total real estate assets, net	2,469,335	4,401,153
Loans held-for-investment and related receivables, net	301,630	89,762
Cash and cash equivalents	466,024	10,533
Restricted cash	7,331	9,141
Rents and tenant receivables	58,374	81,686
Interest receivable, prepaid expenses and other assets	11,731	16,229
Deferred costs, net	2,301	2,087
Assets held-for-sale	351,897	6,780
Total assets	3,668,623	4,617,371
LIABILITIES AND STOCKHOLDERS’ EQUITY
Credit facilities and notes payable, net	1,604,860	2,516,914
Accrued expenses and accounts payable	22,038	25,014
Due to affiliates	14,458	5,156
Intangible lease liabilities, net	20,523	36,418
Distributions payable	16,510	16,518
Deferred rental income, derivative liability and other liabilities	19,448	16,254
Total liabilities	1,697,837	2,616,274
Commitments and contingencies
Redeemable common stock and noncontrolling interest	180,838	184,247
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value per share; 490,000,000 shares authorized, 311,207,725 and 311,381,396 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively	3,112	3,114
Capital in excess of par value	2,606,925	2,607,330
Accumulated distributions in excess of earnings	(816,181)	(804,617)
Accumulated other comprehensive (loss) income	(3,908)	11,023
Total stockholders’ equity	1,789,948	1,816,850
Total liabilities, redeemable common stock, noncontrolling interest and stockholders’ equity	$ 3,668,623	$ 4,617,371

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
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)	311,207,725	311,381,396
Common stock, shares outstanding (shares)	311,207,725	311,381,396

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental and other property income	$ 393,224
Rental and other property income		$ 429,636	$ 424,095
Interest income	20,132	1,640	0
Total revenues	413,356	431,276	424,095
Operating expenses:
General and administrative	13,729	14,127	13,716
Property operating	33,462	30,267	29,777
Real estate tax	32,196	37,898	37,489
Management and advisory fees and expenses	42,339	43,399	44,072
Transaction-related	2,278	2,601	1,599
Depreciation and amortization	107,867	140,979	141,392
Impairment	72,939	32,975	2,855
Total operating expenses	304,810	302,246	270,900
Gain on disposition of real estate, net	180,666	6,299	17,044
Operating income	289,212	135,329	170,239
Other expense:
Interest expense and other, net	(98,965)	(97,871)	(89,792)
Loss on extinguishment of debt	(7,227)	(46)	(896)
Total other expense	(106,192)	(97,917)	(90,688)
Net income	183,020	37,412	79,551
Net income allocated to noncontrolling interest	121	134	131
Net income attributable to the Company	$ 182,899	$ 37,278	$ 79,420
Weighted average number of common shares outstanding:
Basic and diluted (shares)	311,302,909	311,478,665	311,677,149
Net income per common share:
Basic and diluted (USD per share)	$ 0.59	$ 0.12	$ 0.25

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 183,020	$ 37,412	$ 79,551
Other comprehensive (loss) income
Unrealized (loss) gain on interest rate swaps	(11,456)	8,210
Unrealized (loss) gain on interest rate swaps			4,551
Amount of (gain) loss reclassified from other comprehensive income into income as interest expense and other, net	(3,475)	(4,305)
Amount of (gain) loss reclassified from other comprehensive income into income as interest expense and other, net			3,103
Total other comprehensive (loss) income	(14,931)	3,905	7,654
Comprehensive income	168,089	41,317	87,205
Comprehensive income allocated to noncontrolling interest	121	134	131
Comprehensive income attributable to the Company	$ 167,968	$ 41,183	$ 87,074

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 Income (Loss)
Balance (shares) at Dec. 31, 2016		311,817,004
Balance at Dec. 31, 2016	$ 2,077,831	$ 3,118	$ 2,607,304	$ (531,567)	$ (1,024)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		10,095,437
Issuance of common stock	101,344	$ 101	101,243
Distributions declared on common stock — $0.625 per common share	(194,687)			(194,687)
Redemptions of common stock (shares)		(10,330,122)
Redemptions of common stock	(103,675)	$ (103)	(103,572)
Changes in redeemable common stock	2,325		2,325
Comprehensive income (loss)	87,074			79,420	7,654
Balance (shares) at Dec. 31, 2017		311,582,319
Balance at Dec. 31, 2017	1,970,212	$ 3,116	2,607,300	(646,834)	6,630
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		9,615,850
Issuance of common stock	91,764	$ 96	91,668
Equity-based compensation (shares)		14,008
Equity-based compensation	33		33
Distributions declared on common stock — $0.625 per common share	(194,573)			(194,573)
Redemptions of common stock (shares)		(9,830,781)
Redemptions of common stock	(93,830)	$ (98)	(93,732)
Changes in redeemable common stock	2,061		2,061
Comprehensive income (loss)	$ 41,183			37,278	3,905
Balance (shares) at Dec. 31, 2018	311,381,396	311,381,396
Balance at Dec. 31, 2018	$ 1,816,850	$ 3,114	2,607,330	(804,617)	11,023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		9,335,895
Issuance of common stock	82,388	$ 93	82,295
Equity-based compensation (shares)		18,499
Equity-based compensation	138		138
Distributions declared on common stock — $0.625 per common share	(194,463)			(194,463)
Redemptions of common stock (shares)		(9,528,065)
Redemptions of common stock	(84,088)	$ (95)	(83,993)
Changes in redeemable common stock	1,155		1,155
Comprehensive income (loss)	$ 167,968			182,899	(14,931)
Balance (shares) at Dec. 31, 2019	311,207,725	311,207,725
Balance at Dec. 31, 2019	$ 1,789,948	$ 3,112	$ 2,606,925	$ (816,181)	$ (3,908)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Distributions declared per common share (USD per share)	$ 0.625	$ 0.625	$ 0.625

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 183,020	$ 37,412	$ 79,551
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, net	106,262	139,330	139,253
Amortization of deferred financing costs	5,167	5,351	5,313
Amortization of fair value adjustments of mortgage notes payable assumed	(90)	(88)	(86)
Amortization and accretion on deferred loan fees	(2,441)	(268)	0
Capitalized interest income	(8,546)	0	0
Equity-based compensation	138	33	0
Straight-line rental income, net	(5,612)	(7,555)	(8,174)
Gain on disposition of real estate assets, net	(180,666)	(6,299)	(17,044)
Amortization of gain on swap termination	(18)	0	0
Impairment of real estate assets	72,939	32,975	2,855
Fair value adjustment to contingent consideration	0	0	(337)
Ineffectiveness of interest rate swaps			(488)
Write-off of deferred financing costs	2,271	46	896
Changes in assets and liabilities:
Rents and tenant receivables	16,034	(2,432)	862
Prepaid expenses and other assets	(6,456)	(833)	(67)
Accrued expenses and accounts payable	(1,742)	14	(192)
Deferred rental income and other liabilities	(987)	4,921	(70)
Due from affiliates	0	56	2
Due to affiliates	9,302	3,172	(3,349)
Net cash provided by operating activities	188,575	205,835	198,925
Cash flows from investing activities:
Investment in broadly syndicated loans	(2,750)	0	0
Investment in real estate assets	(6,165)	(11,905)	(307,385)
Capital expenditures	(17,722)	(7,297)	(13,315)
Origination and acquisition of loans held-for-investment, net	(217,014)	(89,295)	0
Principal payments received on loans held-for-investment	17,186	0	0
Origination and exit fees received on loans held-for-investment	1,697	185	0
Investment in revenue bonds	0	0	(2,081)
Net proceeds from disposition of real estate assets	1,399,953	64,180	99,013
Payment of property escrow deposits	(350)	(1,100)	(11,472)
Refund of property escrow deposits	350	1,100	11,722
Proceeds from the settlement of insurance claims	110	240	132
Net cash provided by (used in) investing activities	1,175,295	(43,892)	(223,386)
Cash flows from financing activities:
Redemptions of common stock	(84,088)	(93,830)	(103,675)
Distributions to stockholders	(112,083)	(102,822)	(93,310)
Proceeds from credit facility and notes payable	424,500	268,000	1,572,706
Repayments of credit facility and notes payable, net of swap termination payments received	(1,137,022)	(227,181)	(1,341,617)
Payment of loan deposits	0	0	(1,139)
Refund of loan deposits	0	0	1,064
Deferred financing costs paid	(1,211)	0	(13,228)
Distributions to noncontrolling interest	(285)	(279)	(291)
Net cash (used in) provided by financing activities	(910,189)	(156,112)	20,510
Net increase (decrease) in cash and cash equivalents and restricted cash	453,681	5,831	(3,951)
Cash and cash equivalents and restricted cash, beginning of period	19,674	13,843	17,794
Cash and cash equivalents and restricted cash, end of period	473,355	19,674	13,843
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:
Total cash and cash equivalents and restricted cash	$ 473,355	$ 19,674	$ 13,843

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	NOTE 1 — ORGANIZATION AND BUSINESS CIM Real Estate Finance Trust, Inc. (formerly known as Cole Credit Property Trust IV, Inc.) (the “Company”) is a non-exchange traded real estate investment trust (“REIT”) formed as a Maryland corporation on July 27, 2010, that elected to be taxed, and currently qualifies, as a REIT for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2012. The Company operates a diversified portfolio of core commercial real estate assets primarily consisting of net leased properties located throughout the United States. As of December 31, 2019 , the Company owned 396 properties, comprising 19.1 million rentable square feet of commercial space located in 43 states. As of December 31, 2019 , the rentable square feet at these properties was 94.6% leased, including month-to-month agreements, if any. As of December 31, 2019 , there were 29 properties identified as held for sale. See Note 4 — Real Estate Assets to the consolidated financial statements in this Annual Report on Form 10-K for a discussion of the held for sale properties as of December 31, 2019 . The Company intends to pursue a more diversified investment strategy across the capital structure by balancing the Company’s existing core of necessity commercial real estate assets leased to creditworthy tenants under long-term net leases with a portfolio of commercial mortgage loans and other credit investments in which the Company’s sponsor and its affiliates have expertise. As of December 31, 2019 , the Company’s loan portfolio consisted of 12 loans with a net book value of $301.6 million . Substantially all of the Company’s business is conducted through CIM Real Estate Finance Operating Partnership, LP (formerly known as Cole Operating Partnership IV, LP), a Delaware limited partnership, of which the Company is the sole general partner and owns, directly or indirectly, 100% of the partnership interests. The Company is externally managed by CIM Real Estate Finance Management, LLC (formerly known as Cole REIT Management IV, LLC), a Delaware limited liability company (“CMFT Management”), which is an affiliate of CIM Group, LLC (“CIM”). CIM is a community-focused real estate and infrastructure owner, operator, developer and lender with multi-disciplinary expertise, including acquisitions, management, development, leasing, research and capital markets. CIM is headquartered in Los Angeles, California and has offices in Oakland, California; Bethesda, Maryland; Dallas, Texas; New York, New York; Chicago, Illinois; and Phoenix, Arizona. CCO Group, LLC owns and controls CMFT Management, the Company’s advisor, and is the indirect owner of CCO Capital, LLC (“CCO Capital”), the Company’s dealer manager, and CREI Advisors, LLC (“CREI Advisors”), the Company’s property manager. CCO Group, LLC and its subsidiaries (collectively, “CCO Group”) serve as the Company’s sponsor and as a sponsor to Cole Credit Property Trust V, Inc. (“CCPT V”), Cole Office & Industrial REIT (CCIT II), Inc. (“CCIT II”), Cole Office & Industrial REIT (CCIT III), Inc. (“CCIT III”) and CIM Income NAV, Inc. (“CIM Income NAV”). On January 26, 2012 , the Company commenced its initial public offering on a “best efforts” basis of up to a maximum of $2.975 billion in shares of common stock (the “Offering”). The Company ceased issuing shares in the Offering on April 4, 2014. At the completion of the Offering, a total of approximately 297.4 million shares of common stock had been issued, including approximately 292.3 million shares of common stock sold to the public pursuant to the primary portion of the Offering and approximately 5.1 million shares of common stock issued pursuant to the DRIP portion of the Offering. The remaining approximately 404,000 unsold shares from the Offering were deregistered. The Company registered $247.0 million of shares of common stock under a distribution reinvestment plan (the “DRIP”) (the “Initial DRIP Offering”), 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 ceased issuing shares under the Initial DRIP Offering effective as of June 30, 2016. At the completion of the Initial DRIP Offering, a total of approximately $241.7 million of common stock had been issued. The remaining $5.3 million of unsold shares from the Initial DRIP Offering were deregistered. The Company registered an additional $600.0 million of shares of common stock under the DRIP (the “Secondary DRIP Offering,” and together with the Initial DRIP Offering, the “DRIP Offerings,” and the DRIP Offerings collectively with the Offering, the “Offerings”), which was filed with the SEC on August 2, 2016 and automatically became effective with the SEC upon filing. The Company began to issue shares under the Secondary DRIP Offering on August 2, 2016 and will continue to issue shares under the Secondary DRIP Offering. The Company’s board of directors (the “Board”) establishes an updated estimated per share net asset value (“NAV”) of the Company’s common stock on at least an annual basis for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account reporting obligations under Financial Industry Regulatory Authority Rule 2231. Distributions are reinvested in shares of the Company’s common stock under the DRIP at the estimated per share NAV as determined by the Board. Additionally, the estimated per share NAV as determined by the Board serves as the per share NAV for purposes of the share redemption program. As of December 31, 2019 , the estimated per share NAV was $8.65 per share, which was established on March 20, 2019 using a valuation date of December 31, 2018. On March 25, 2020 , the Board established an updated estimated per share NAV of the Company’s common stock, using a valuation date of December 31, 2019. Commencing on March 30, 2020, distributions are reinvested in shares of the Company’s common stock under the DRIP at a price of $7.77 per share. The Board previously established per share NAVs as of August 31, 2015, September 30, 2016, December 31, 2016, December 31, 2017 and December 31, 2018. The Company’s estimated per share NAVs are not audited or reviewed by its independent registered public accounting firm.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following characteristics: (a) the power to direct the activities that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of the entity, or (c) the right to receive the expected returns of the entity. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations. For legal entities being evaluated for consolidation, the Company must first determine whether the interests that it holds and fees it receives qualify as variable interests in the entity. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. The Company’s evaluation includes consideration of fees paid to the Company where the Company acts as a decision maker or service provider to the entity being evaluated. If the Company determines that it holds a variable interest in an entity, it evaluates whether that entity is a VIE. A VIE must be consolidated by its primary beneficiary, which is generally defined as the party who has a controlling financial interest in the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. The Company consolidates any VIEs when the Company is determined to be the primary beneficiary of the VIE and the difference between consolidating the VIE and accounting for it using the equity method could be material to the Company’s consolidated financial statements. The Company continually evaluates the need to consolidate any VIEs based on standards set forth in GAAP as described above. As of December 31, 2018 , the Company determined that it had a controlling interest in nine properties owned through a consolidated joint venture arrangement (the “Consolidated Joint Venture”) and therefore met the GAAP requirements for consolidation. During the year ended December 31, 2019 , the Company disposed of the nine properties previously owned through the Consolidated Joint Venture and therefore determined it no longer had a controlling financial interest in the Consolidated Joint Venture as of December 31, 2019 . See Note 4 — Real Estate Assets for a further discussion of this disposition. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company combined rental income of $371.2 million and tenant reimbursement income of $58.4 million for the year ended December 31, 2018 , and rental income of $371.9 million and tenant reimbursement income of $52.2 million for the year ended December 31, 2017 , into a single financial statement line item, rental and other property income, in the consolidated statements of operations. The Company has chosen to break out loss on extinguishment of debt of $46,000 from interest expense and other, net for the year ended December 31, 2018 , and loss on extinguishment of debt of $896,000 from interest expense and other, net for the year ended December 31, 2017 , which was previously reported in total as $97.9 million and $90.7 million in the Company’s consolidated statements of operations for the years ended December 31, 2018 and 2017, respectively. The Company has chosen to break out capital expenditures of $7.3 million from investment in real estate assets of $11.9 million for the year ended December 31, 2018 , and capital expenditures of $13.3 million from investment in real estate assets of $307.4 million for the year ended December 31, 2017 , which was previously reported in total as $19.2 million and $320.7 million in the Company’s consolidated statements of cash flows for the years ended December 31, 2018 and 2017, respectively. Additionally, the Company is combining bad debt expense of $522,000 and straight-line rental income of $8.1 million for the year ended December 31, 2018 , and bad debt expense of $1.9 million and straight-line rental income of $10.1 million for the year ended December 31, 2017 into a single line item, straight-line rental income, net, in the consolidated statements of cash flows. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to: bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors; a significant decrease in a property’s revenues due to lease terminations; vacancies; co-tenancy clauses; reduced lease rates; changes in anticipated holding periods; or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. During the year ended December 31, 2019 , as part of the Company’s quarterly impairment review procedures, the Company recorded impairment charges of $72.9 million related to 27 properties with revised expected holding periods and seven properties with vacancies. The Company’s impairment assessment as of December 31, 2019 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding periods for assets change, subsequent tests for impairment could result in additional impairment charges in the future. The Company cannot provide any assurance that material impairment charges with respect to the Company’s real estate assets will not occur during 2020 or future periods. During the year ended December 31, 2018 , the Company recorded impairment charges of $33.0 million related to 20 properties with revised expected holding periods and two properties with vacancies. During the year ended December 31, 2017 , the Company recorded impairment charges of $2.9 million related to four properties as a result of delinquent rental payments and two tenants who had previously filed for bankruptcy. The assumptions and uncertainties utilized in the evaluation of the impairment of real estate assets are discussed in detail in Note 3 — Fair Value Measurements . See also Note 4 — Real Estate Assets for further discussion regarding real estate investment activity. Within the next 24 months, the Company expects to sell a substantial portion of its anchored shopping center portfolio and certain single tenant properties. These will be sold in pools or on a standalone basis. As of December 31, 2019 , the Company intended to sell properties with a net book value of at least $1.7 billion , subject to market conditions. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount is then recorded to reflect the estimated fair value of the property, net of selling costs. As of December 31, 2019 , the Company identified 29 properties with a carrying value of $351.9 million as held for sale, 12 of which were sold subsequent to December 31, 2019 . The Company has mortgage notes payable of $126.7 million that are related to the held for sale properties, which the Company expects to repay in connection with the disposition of the underlying held for sale properties. As of December 31, 2018 , the Company identified one property with a carrying value of $6.8 million as held for sale, which was sold subsequent to December 31, 2018 . Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The disposition of 497 and 21 of the Company’s individual properties during the years ended December 31, 2019 and 2018 , respectively, did not qualify for discontinued operations presentation and thus, the results of the properties that were sold will remain in operating income, and any associated gains or losses from the disposition are included in gain on disposition of real estate, net. See Note 4 — Real Estate Assets to the consolidated financial statements in this Annual Report on Form 10-K for a discussion of the disposition of individual properties during the year ended December 31, 2019 . Allocation of Purchase Price of Real Estate Assets Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases and other intangibles, based in each case on their relative fair values. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above- and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, the remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above- or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include leasing commissions, legal and other related expenses and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company has acquired, and may continue to acquire, certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrowed funds to the Company or the seller or a combination thereof. Prior to the adoption of ASU 2017-01 (as defined below) in April 2017, contingent consideration arrangements, including amounts funded through an escrow account, were recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value subsequent to acquisition were reflected in the accompanying consolidated statements of operations in acquisition-related fees and expenses. Upon adoption of ASU 2017-01 in April 2017, contingent consideration arrangements for asset acquisitions are recognized when the contingency is resolved. 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. In April 2017, the Company elected to early adopt Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Beginning in April 2017, all real estate acquisitions qualified as asset acquisitions, and as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are now capitalized and allocated to tangible and intangible assets and liabilities as described above. Other acquisition-related expenses, such as advisor reimbursements, continue to be expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Prior to the adoption of ASU 2017-01 in April 2017, all of the Company’s real estate acquisitions were accounted for as business combinations and, as such, acquisition-related expenses related to these business combination acquisitions were expensed as incurred. Prior to April 2017, acquisition-related expenses included within transaction-related expenses in the Company’s consolidated statements of operations primarily consisted of legal, deed transfer and other costs related to real estate purchase transactions, including costs incurred for deals that were not consummated. The Company expects its future acquisitions to qualify as asset acquisitions and, as such, the Company will allocate the purchase price to acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis. Redeemable Noncontrolling 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 (the “Option”), which became effective on June 27, 2016, whereby the Company will be required to purchase the ownership interest of the joint venture partner at fair market value. From June 2014 to December 2019, the Company determined it had a controlling interest in the Consolidated Joint Venture and, therefore, met the GAAP requirements for consolidation. The Company recorded net income of $121,000 and paid distributions of $285,000 related to the noncontrolling interest during the year ended December 31, 2019 . During the year ended December 31, 2019 , the Company disposed of its interest in the underlying properties previously owned through the Consolidated Joint Venture, as further discussed in Note 4 — Real Estate Assets . Therefore, the Company determined it no longer had a controlling financial interest as of December 31, 2019 . The Company recorded the noncontrolling interest of $2.3 million as of December 31, 2018 , as temporary equity in the mezzanine section of the consolidated balance sheets, due to the ability to exercise the Option being outside the control of the Company. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000 . At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held. Included in cash and cash equivalents was $126.8 million reserved for settlement of broadly syndicated loan purchases as of December 31, 2019 , as further discussed in Note 10 — Commitments and Contingencies . The Company had $7.3 million and $9.1 million in restricted cash as of December 31, 2019 and December 31, 2018 , respectively. Included in restricted cash was $3.1 million and $3.4 million held by lenders in lockbox accounts, as of December 31, 2019 and 2018 , 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 $4.2 million and $5.7 million held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the associated lender’s loan agreement as of December 31, 2019 and 2018 , respectively. Loans Held-for-Investment The Company has acquired, and may continue to acquire, loans related to real estate assets. Additionally, we may invest in first and second lien mortgage loans, mezzanine loans, bridge loans, wraparound mortgage loans, construction mortgage loans on real property, loans on leasehold interest mortgages and broadly syndicated loans. The Company intends to hold the loans held-for-investment for the foreseeable future or until maturity. Loans held-for-investment are carried on the Company’s consolidated balance sheets at amortized cost, net of any allowance for loans receivable losses. Discounts or premiums, origination fees and exit fees are amortized as a component of interest income using the effective interest method over the life of the respective loans. Loan acquisition fees paid to CMFT Management or its affiliates are expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Interest earned is either received in cash or capitalized to loans held-for-investment and related receivables, net in the Company’s consolidated balance sheets. Interest is capitalized when certain conditions are met as specified in each loan agreement. For the year ended December 31, 2019 , the Company recorded $20.1 million in interest income, of which $8.5 million was capitalized to loans held-for-investment and related receivables, net. Accrual of interest income is suspended on nonaccrual loans. Loans that are past due 90 days or more as to principal or interest, or where reasonable doubt exists as to timely collection, are generally considered nonperforming and placed on nonaccrual. Interest collected is recognized on a cash basis by crediting income when received. Loans may be restored to accrual status when all principal and interest are current and full repayment of the remaining contractual principal and interest are reasonably assured. As of December 31, 2019 , the Company’s eight mezzanine loans with a net book value of $146.1 million were nonaccrual loans. Generally, an allowance for loan losses is provided when management determines that the Company will be unable to collect any remaining amounts due under the loan agreement. The Company evaluates the collectability of its loans held-for-investment at least quarterly. The evaluation of collectability involves judgment, estimates, and a review of the ability of the borrower to make principal and interest payments and the underlying collateral. For the year ended December 31, 2019 , the Company recorded no impairment on its loans held-for-investment. Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the straight-line method, which approximates the effective interest method. Unamortized deferred financing costs are written off when the associated debt is extinguished or repaid before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facilities, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facilities and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2019 and 2018 , the Company had $2.3 million and $2.1 million , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facilities. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined the financing will not close. Due to Affiliates CMFT Management, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offerings and the acquisition, management, financing and leasing of the properties of the Company. Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the derivative instrument that is designated as a hedge is recorded as other comprehensive income. The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations. Redeemable Common Stock Under the Company’s 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 the maximum amount that is 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. Leases The Company adopted ASU No. 2016-02, Leases, (Topic 842) (“ASC 842”), on January 1, 2019 using the optional alternative transition method for financial information and related disclosures. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company has lease agreements with lease and non-lease components. The Company has elected to not separate non-lease components from lease components for all classes of underlying assets (primarily real estate assets) and will account for the combined components as rental and other property income. Non-lease components included in rental and other property income include certain tenant reimbursements for maintenance services (including common-area maintenance services or “CAM”), real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. As a lessor, the Company has further determined that this policy will be effective only on a lease that has been classified as an operating lease and the revenue recognition pattern and timing is the same for both types of components. The Company is not a party to any material leases where it is the lessee. Significant judgments and assumptions are inherent in not only determining if a contract contains a lease, but also the lease classification, terms, payments, and, if needed, discount rates. Judgments include the nature of any options, including if they will be exercised, evaluation of implicit discount rates and the assessment and consideration of “fixed” payments for straight-line rent revenue calculations. The Company has an investment in a real estate property that is subject to a ground lease, for which a lease liability and right of use (“ROU”) asset of $2.6 million was recorded as of December 31, 2019 . See Note 15 — Leases for a further discussion regarding this ground lease. Lease costs represent the initial direct costs incurred in the origination, negotiation and processing of a lease agreement. Such costs include outside broker commissions and other independent third-party costs and are amortized over the life of the lease on a straight-line basis. Costs related to salaries and benefits, supervision, administration, unsuccessful origination efforts and other activities not directly related to completed lease agreements are expensed as incurred. Leasing commissions subsequent to successful lease execution are capitalized. Revenue Recognition Revenue from leasing activities Rental and other property income is primarily derived from fixed contractual payments from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Upon the determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be less than probable is recorded on a cash

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3 — FAIR VALUE MEASUREMENTS GAAP defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows: Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 — Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability. The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Credit facilities and notes payable — The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. As of December 31, 2019 , the estimated fair value of the Company’s debt was $1.60 billion , compared to the carrying value of $1.61 billion . The estimated fair value of the Company’s debt as of December 31, 2018 was $2.46 billion , compared to the carrying value of $2.53 billion . Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the respective counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2019 and 2018 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Revenue bonds — The Company’s revenue bonds were acquired in connection with the purchase of an anchored shopping center. The bonds have a 9.0% interest rate and mature on November 1, 2044. These investments are initially recognized in interest receivable, prepaid expenses and other assets on the consolidated balance sheets and are subsequently measured using amortized cost. The fair value estimates of the Company’s revenue bonds are based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques including discounted cash flow analysis. This analysis reflects the contractual terms of the bonds, including the period to maturity, and uses unobservable market-based inputs, including discount rates ranging from 7.75% to 9.0% . As a result, the Company has determined that its revenue bonds are classified in Level 3 of the fair value hierarchy. As of December 31, 2019 , the estimated fair value of the Company’s revenue bonds was $2.0 million . The Company has these investments classified as held-to-maturity securities. The Company’s investments in revenue bonds are reviewed for impairment, including the evaluation of changes in events or circumstances that may indicate that the carrying amount of the investment may not be recoverable. Loans held-for-investment — The Company’s loans held-for-investment are recorded at cost upon origination and adjusted by net loan origination fees and discounts. The Company estimates the fair value of its loans held-for-investment by performing a present value analysis for the anticipated future cash flows using an appropriate market discount rate taking into consideration the credit risk. As a result, the Company has determined that its loans held-for-investment are classified in Level 3 of the fair value hierarchy. As of December 31, 2019 , the estimated fair value of the Company’s loans held-for-investment was $302.0 million , compared to its carrying value of $301.6 million . As of December 31, 2018, the Company determined that the estimated fair value of its loans held-for-investment was equal to its carrying value given that the loans were originated during the fourth quarter of 2018. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant 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 as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments. Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for, upon disposition of the financial assets and liabilities. As of December 31, 2019 and 2018 , 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, 2019 and 2018 (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) Financial assets: Interest rate swaps 261 — 261 — Total financial assets $ 261 $ — $ 261 $ — Financial liability: Interest rate swap $ (4,181 ) $ — $ (4,181 ) $ — Total financial liability $ (4,181 ) $ — $ (4,181 ) $ — Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Interest rate swaps $ 10,993 $ — $ 10,993 $ — Total financial assets $ 10,993 $ — $ 10,993 $ — Items Measured at Fair Value on a Non-Recurring Basis (Including Impairment Charges) Certain financial and nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The Company’s process for identifying and recording impairment related to real estate assets and intangible assets is discussed in Note 2 — Summary of Significant Accounting Policies . As discussed in Note 4 — Real Estate Assets , during the year ended December 31, 2019 , real estate assets related to 34 properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $384.4 million , resulting in impairment charges of $72.9 million . During the year ended December 31, 2018 , real estate assets related to 22 properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $332.4 million , resulting in impairment charges of $33.0 million . During the year ended December 31, 2017 , real estate assets related to four properties were deemed to be impaired and their carrying values were reduced to an estimated fair value of $4.3 million , resulting in impairment charges of $2.9 million . The Company estimates fair values using Level 3 inputs and using a combined income and market approach, specifically using discounted cash flow analysis and recent comparable sales transactions. The evaluation of real estate assets for potential impairment requires the Company’s management to exercise significant judgment and to make certain key assumptions, including, but not limited to, the following: (1) terminal capitalization rates; (2) discount rates; (3) the number of years the property will be held; (4) property operating expenses; and (5) re-leasing assumptions, including the number of months to re-lease, market rental income and required tenant improvements. There are inherent uncertainties in making these estimates such as market conditions and the future performance and sustainability of the Company’s tenants. For the Company’s impairment tests for the real estate assets during the year ended December 31, 2019 , the Company used a range of discount rates from 7.4% to 9.5% and terminal capitalization rates from 5.5% to 9.2% . The following table presents the impairment charges by asset class recorded during the years ended December 31, 2019 , 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 Asset class impaired: Land $ 12,648 $ 6,436 $ 725 Buildings, fixtures and improvements 56,572 25,299 1,734 Intangible lease assets 4,056 1,385 396 Intangible lease liabilities (337 ) (145 ) — Total impairment loss $ 72,939 $ 32,975 $ 2,855

Real Estate Assets

Real Estate Assets	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
REAL ESTATE ASSETS	NOTE 4 — REAL ESTATE ASSETS 2019 Property Acquisition During the year ended December 31, 2019 , the Company acquired a 100% interest in one commercial property for an aggregate purchase price of $6.2 million (the “ 2019 Property Acquisition”), which includes $165,000 of external acquisition-related expenses that were capitalized. The Company funded the 2019 Property Acquisition with proceeds from real estate dispositions and available borrowings. The following table summarizes the purchase price allocation for the 2019 Property Acquisition (in thousands): 2019 Property Acquisition Land $ 1,501 Buildings, fixtures and improvements 3,804 Acquired in-place leases and other intangibles (1) 860 Total purchase price $ 6,165 ______________________ (1) The amortization period for acquired in-place leases and other intangibles is 20.1 years. 2019 Property Dispositions and Real Estate Assets Held for Sale On September 3, 2019, certain subsidiaries of the Company entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) with Realty Income Corporation (NYSE: O) (the “Purchaser”), an unaffiliated company, to sell approximately 452 single-tenant properties, including nine properties previously owned through the Consolidated Joint Venture, encompassing approximately 5.1 million gross rentable square feet of commercial space across 41 states. Pursuant to the Purchase and Sale Agreement, the sale of 444 properties closed in December 2019 for total consideration of $1.2 billion , including the assumption by the Purchaser of existing mortgage debt totaling $130.8 million and the repayment of $532.3 million in debt, as further discussed in Note 8 — Credit Facilities and Notes Payable . The remaining properties closed subsequent to December 31, 2019, for consideration of $26.3 million , as discussed in Note 17 — Subsequent Events . During the year ended December 31, 2019 , the Company disposed of a total of 497 properties, consisting of 482 retail properties, one industrial property and 14 anchored shopping centers, excluding a related outparcel of land, for an aggregate gross sales price of $1.65 billion , resulting in net proceeds of $1.40 billion after closing costs and disposition fees due to CMFT Management or its affiliates, and a gain of $180.7 million . The Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain on disposition of real estate, net in the consolidated statements of operations. The disposition of these properties did not qualify to be reported as discontinued operations since the disposition did not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the operating results of these disposed properties are reflected in the Company’s results from continuing operations for all periods presented through their respective date of disposition. As of December 31, 2019 , there were 29 properties classified as held for sale with a carrying value of $351.9 million included in assets held for sale in the consolidated balance sheets. The Company has mortgage notes payable of $126.7 million that are related to the held for sale properties, which the Company expects to repay in connection with the disposition of the underlying held for sale properties. 2019 Impairment The Company performs quarterly impairment review procedures, primarily through continuous monitoring of events and changes in circumstances that could indicate that the carrying value of certain of its real estate assets may not be recoverable. See Note 2 — Summary of Significant Accounting Policies for a discussion of the Company’s accounting policies regarding impairment of real estate assets. During the year ended December 31, 2019 , 34 properties totaling approximately 3.4 million square feet with a carrying value of $457.3 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $384.4 million , resulting in impairment charges of $72.9 million , which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges. 2018 Property Acquisition During the year ended December 31, 2018 , the Company acquired a 100% interest in one commercial property for an aggregate purchase price of $11.9 million (the “ 2018 Acquisition”), which includes $277,000 of external acquisition-related expenses that were capitalized in accordance with ASU 2017-01. Prior to the adoption of ASU 2017-01, costs related to property acquisitions were expensed as incurred. The Company funded the 2018 Acquisition with net cash provided by operations and available borrowings. The following table summarizes the purchase price allocation for the 2018 Acquisition (in thousands): 2018 Acquisition Land $ 2,107 Buildings, fixtures and improvements 9,044 Acquired in-place leases and other intangibles (1) 1,392 Intangible lease liabilities (2) (638 ) Total purchase price $ 11,905 ______________________ (1) The amortization period for acquired in-place leases and other intangibles is 19.0 years. (2) The amortization period for acquired intangible lease liabilities is 19.0 years. 2018 Property Dispositions During the year ended December 31, 2018 , the Company disposed of 21 properties, consisting of 19 retail properties and two anchored shopping centers, excluding a related outparcel of land, for an aggregate gross sales price of $66.6 million , resulting in net proceeds of $49.1 million after closing costs and the repayment of the $15.0 million variable rate debt secured by one of the disposed properties and a gain of $6.3 million . During the year ended December 31, 2018 , $478,000 was incurred for disposition fees to CMFT Management or its affiliates in connection with the sale of the properties and the Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain on disposition of real estate, net in the consolidated statements of operations. The disposition of these properties did not qualify to be reported as discontinued operations since the disposition did not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the operating results of these disposed properties are reflected in the Company’s results from continuing operations for all periods presented through their respective date of disposition. 2018 Impairment During the year ended December 31, 2018 , 22 properties totaling approximately 2.3 million square feet with a carrying value of $365.4 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $332.4 million , resulting in impairment charges of $33.0 million , which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges. 2017 Property Acquisitions During the year ended December 31, 2017 , the Company acquired 42 commercial properties for an aggregate purchase price of $307.4 million (the “ 2017 Acquisitions”), of which 38 were determined to be asset acquisitions and four were accounted for as business combinations as they were acquired prior to the Company’s adoption of ASU 2017-01 in April 2017. The Company funded the 2017 Acquisitions with net cash provided by operations and available borrowings. The following table summarizes the consideration transferred for the properties purchased during the year ended December 31, 2017 (in thousands): 2017 Acquisitions Real estate assets: Purchase price of asset acquisitions $ 251,999 Purchase price of business combinations 55,386 Total purchase price of real estate assets acquired (1) $ 307,385 ____________________________________ (1) The weighted average amortization period for the 2017 Acquisitions was 16.9 years for acquired in-place leases and other intangibles, 13.6 years for acquired above-market leases and 8.5 years for acquired intangible lease liabilities. During the year ended December 31, 2017 , the Company acquired a 100% interest in 38 commercial properties for an aggregate purchase price of $252.0 million , which were accounted for as asset acquisitions (the “2017 Asset Acquisitions”). The aggregate purchase price includes $6.1 million of external acquisition-related expenses that were capitalized in accordance with ASU 2017-01. Prior to the adoption of ASU 2017-01, costs related to property acquisitions were expensed as incurred. The following table summarizes the purchase price allocation for the 2017 Asset Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Asset Acquisitions Land $ 32,919 Buildings, fixtures and improvements 177,682 Acquired in-place leases and other intangibles 39,257 Acquired above-market leases 3,624 Revenue bonds 2,081 Intangible lease liabilities (3,564 ) Total purchase price $ 251,999 During the year ended December 31, 2017 , the Company acquired a 100% interest in four commercial properties for an aggregate purchase price of $55.4 million , which were accounted for as business combinations (the “2017 Business Combination Acquisitions”). 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 allocations for the 2017 Business Combination Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Business Combination Acquisitions Land $ 9,873 Buildings, fixtures and improvements 41,186 Acquired in-place leases and other intangibles 5,974 Acquired above-market leases 988 Intangible lease liabilities (2,635 ) Total purchase price $ 55,386 The Company recorded revenue for the year ended December 31, 2017 of $5.1 million and net income for the year ended December 31, 2017 of $708,000 related to the 2017 Business Combination Acquisitions. In addition, the Company recorded $1.3 million of acquisition-related expenses for the year ended December 31, 2017 , which is included in transaction-related expenses on the consolidated statements of operations. The following table summarizes selected financial information of the Company as if all of the 2017 Business Combination Acquisitions were completed on January 1, 2016 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, 2017 and 2016 (in thousands): Year Ended December 31, 2017 2016 Pro forma basis (unaudited): Revenue $ 424,416 $ 412,883 Net income $ 80,912 $ 71,301 The unaudited pro forma information for the year ended December 31, 2017 was adjusted to exclude $1.3 million of acquisition-related fees and expenses recorded during the year ended December 31, 2017 related to the 2017 Business Combination Acquisitions. Accordingly, these costs were instead recognized in the unaudited pro forma information for the year ended December 31, 2016. 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 2016, nor does it purport to represent the results of future operations. 2017 Property Dispositions During the year ended December 31, 2017 , the Company disposed of 14 retail properties and one industrial property for an aggregate gross sales price of $100.6 million , resulting in net proceeds of $65.9 million after closing costs and the repayment of the $33.0 million variable rate debt secured by one of the disposed properties and a gain of $17.0 million . No disposition fees were paid to CMFT Management or its affiliates in connection with the sale of the properties and the Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain (loss) on disposition of real estate, net in the consolidated statements of operations. The disposition of these properties did not qualify to be reported as discontinued operations since the disposition did not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the operating results of these disposed properties are reflected in the Company’s results from continuing operations for all periods presented through their respective date of disposition. 2017 Impairment During the year ended December 31, 2017 , four properties totaling approximately 33,000 square feet with a carrying value of $7.2 million were deemed to be impaired and their carrying values were reduced to an estimated fair value of $4.3 million , resulting in impairment charges of $2.9 million , which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion regarding these impairment charges.

Intangible Lease Assets and Lia

Intangible Lease Assets and Liabilities	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS AND LIABILITIES	NOTE 5 — INTANGIBLE LEASE ASSETS AND LIABILITIES Intangible lease assets and liabilities consisted of the following as of December 31, 2019 and 2018 (in thousands, except weighted average life remaining): As of December 31, 2019 2018 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $111,670 and $184,532, respectively (with a weighted average life remaining of 10.4 years and 10.1 years, respectively) $ 164,724 $ 307,895 Acquired above-market leases, net of accumulated amortization of $19,310 and $27,979, respectively (with a weighted average life remaining of 7.9 years and 8.4 years, respectively) 17,423 34,462 Total intangible lease assets, net $ 182,147 $ 342,357 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $25,800 and $34,732, respectively (with a weighted average life remaining of 7.3 years and 7.2 years, respectively) $ 20,523 $ 36,418 Amortization of the above-market leases is recorded as a reduction to rental and other property income, and amortization expense for the in-place leases and other intangibles is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2019 , 2018 , and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 In-place lease and other intangible amortization $ 32,058 $ 45,559 $ 46,602 Above-market lease amortization $ 4,315 $ 6,740 $ 7,304 Below-market lease amortization $ 6,253 $ 8,448 $ 9,503 As of December 31, 2019 , the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2020 $ 20,943 $ 2,753 $ 4,746 2021 $ 18,544 $ 2,175 $ 2,907 2022 $ 17,458 $ 2,005 $ 2,495 2023 $ 15,593 $ 1,768 $ 2,126 2024 $ 13,901 $ 1,326 $ 1,601 Thereafter $ 78,285 $ 7,396 $ 6,648 Total $ 164,724 $ 17,423 $ 20,523

Loans Held-For-Investment

Loans Held-For-Investment	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
LOANS HELD-FOR-INVESTMENT	NOTE 6 — LOANS HELD-FOR-INVESTMENT The Company’s loans held-for-investment consisted of the following as of December 31, 2019 and 2018 (dollar amounts in thousands): As of December 31, 2019 2018 Mezzanine loans $ 146,060 $ 89,762 Senior loans 152,820 — Total CRE loans-held-for-investment 298,880 89,762 Broadly syndicated loans 2,750 — Total loans-held-for-investment and related receivable, net $ 301,630 $ 89,762 During the year ended December 31, 2019 , the Company acquired four mezzanine loans, originated three senior loans and acquired one broadly syndicated loan. As of December 31, 2019 , the Company had $16.2 million of unfunded commitments related to Commercial Real Estate (“CRE”) loans held-for-investment, the funding of which is subject to satisfaction of borrower milestones. These commitments are not reflected in the accompanying consolidated balance sheet. During the year ended December 31, 2019 , the borrower on the Company’s eight mezzanine loans, which represent approximately 4.0% of total assets as of December 31, 2019 , became delinquent on certain required reserve payments. To the extent that the delinquencies remain outstanding and uncured, subsequent tests for impairments could result in impairment charges in the future. The following table details overall statistics for the Company’s CRE loans held-for-investment as of December 31, 2019 (dollar amounts in thousands): As of December 31, 2019 2018 Number of loans 11 4 Principal balance (1) $ 297,357 $ 89,679 Net book value $ 298,880 $ 89,762 Weighted-average interest rate (1) 8.9 % 17.2 % Weighted-average maximum years to maturity (2) 2.9 2.4 ____________________________________ (1) As of December 31, 2019 , 100% of the Company’s loans by principal balance earned a floating rate of interest, primarily indexed to U.S. dollar LIBOR. (2) Maximum maturity date assumes all extension options are exercised by the borrowers; however, the Company’s loans may be repaid prior to such date. Activity relating to the Company’s CRE loans held-for-investment portfolio was as follows for the years ended December 31, 2019 and 2018 (dollar amounts in thousands): Principal Balance Deferred Fees / Other Items (1) Loan Fees Receivable Net Book Value Balance, January 1, 2018 $ — $ — $ — $ — Loan fundings 89,295 (6,623 ) 6,623 89,295 Capitalized interest (2) 384 — — 384 Deferred fees and other items — (185 ) — (185 ) Accretion and amortization of fees and other items — 268 — 268 Balance, December 31, 2018 $ 89,679 $ (6,540 ) $ 6,623 $ 89,762 Loan fundings 216,318 (389 ) 1,085 217,014 Principal repayments received (17,186 ) — — (17,186 ) Capitalized interest (2) 8,546 — — 8,546 Deferred fees and other items — (1,531 ) (166 ) (1,697 ) Accretion and amortization of fees and other items — 2,441 — 2,441 Balance, December 31, 2019 $ 297,357 $ (6,019 ) $ 7,542 $ 298,880 ____________________________________ (1) Other items primarily consist of purchase discounts or premiums, accretion of exit fees and deferred origination expenses. (2) Represents accrued interest on loans whose terms do not require a current cash payment of interest.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 7 — 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, 2019 , one of the Company’s interest rate swap agreements matured. In addition, three of the Company’s interest rate swap agreements were terminated prior to the maturity date due to the disposition of the underlying properties, resulting in a gain of $118,000 . The gain was recorded as a decrease to interest expense and other, net included in the accompanying consolidated statements of operations. As of December 31, 2019 , the Company had three executed 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, 2019 and 2018 (dollar amounts in thousands): Outstanding Notional Fair Value of Assets (Liability) Balance Sheet Amount as of Interest Effective Maturity December 31, December 31, Location December 31, 2019 Rates (1) Dates Dates 2019 2018 Interest Rate Swaps Interest receivable, prepaid expenses and other assets $ 60,000 2.55% to 3.62% 3/14/2016 to 6/29/2016 4/5/2021 to 7/1/2021 $ 261 $ 10,993 Interest Rate Swap Deferred rental income, derivative liability and other liabilities $ 811,666 4.02% 8/15/2018 3/15/2021 $ (4,181 ) $ — ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2019 . Additional disclosures related to the fair value of the Company’s derivative instruments are included in Note 3 — Fair Value Measurements . The notional amount under the interest rate swap agreements is an indication of the extent of the Company’s involvement in each instrument, but does not represent exposure to credit, interest rate or market risks. Accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument. The Company designated the interest rate swaps as cash flow hedges in order to hedge the variability of the anticipated cash flows on its variable rate debt. The change in fair value of the derivative instruments that are designated as hedges is recorded in other comprehensive (loss) income , with a portion of the amount subsequently reclassified to interest expense as interest payments are made on the Company’s variable rate debt. For the years ended December 31, 2019 and 2018 , the amount of gains reclassified from other comprehensive (loss) income as a decrease to interest expense was $3.5 million and $4.3 million , respectively. For the year ended December 31, 2017 , the amount of loss reclassified from other comprehensive (loss) income as an increase to interest expense was $3.1 million . During the next 12 months, the Company estimates that $3.1 million will be reclassified from other comprehensive (loss) income as an increase to interest expense. The Company includes cash flows from interest rate swap agreements in net cash flows provided by operating activities on its consolidated statements of cash flows, as the Company’s accounting policy is to present cash flows from hedging instruments in the same category in its consolidated statements of cash flows as the category for cash flows from the hedged items. The Company has agreements with each of its derivative counterparties that contain provisions whereby if the Company defaults on certain of its unsecured indebtedness, the Company could also be declared in default on its derivative obligations, resulting in an acceleration of payment. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value, inclusive of interest payments and accrued interest of $4.3 million as of December 31, 2019 . In addition, the Company is exposed to credit risk in the event of non-performance by its derivative counterparties. The Company believes it mitigates its credit risk by entering into agreements with creditworthy counterparties. The Company records credit risk valuation adjustments on its interest rate swaps based on the credit quality of the Company and the respective counterparty. There were no termination events or events of default related to the interest rate swaps as of December 31, 2019 .

Credit Facilities And Notes Pay

Credit Facilities And Notes Payable	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	NOTE 8 — CREDIT FACILITIES AND NOTES PAYABLE As of December 31, 2019 , the Company had $1.6 billion of debt outstanding, including net deferred financing costs, with a weighted average years to maturity of 2.4 years and a weighted average interest rate of 3.9% . The weighted average years to maturity is computed using the scheduled repayment date as specified in each loan agreement where applicable. The weighted average interest rate is computed using the interest rate in effect until the scheduled repayment date. Should a loan not be repaid by its scheduled repayment date, the applicable interest rate will increase as specified in the respective loan agreement. The following table summarizes the debt balances as of December 31, 2019 and 2018 , and the debt activity for the year ended December 31, 2019 (in thousands): During the Year Ended December 31, 2019 Balance as of December 31, 2018 Debt Issuances & Assumptions (1) Repayments & Modifications Accretion & (Amortization) Balance as of December 31, 2019 Fixed rate debt $ 1,178,166 $ — $ (451,905 ) (2) $ — $ 726,261 Variable rate debt 20,500 — (20,500 ) — — Credit facility 1,331,000 424,500 (870,500 ) — 885,000 Total debt 2,529,666 424,500 (1,342,905 ) — 1,611,261 Net premiums (3) 331 — — (90 ) 241 Deferred costs – credit facility (4) (6,731 ) (19 ) 745 (5) 2,072 (3,933 ) Deferred costs – fixed rate debt (6,352 ) — 1,526 (5) 2,117 (2,709 ) Total debt, net $ 2,516,914 $ 424,481 $ (1,340,634 ) $ 4,099 $ 1,604,860 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Includes the assumption of $205.8 million of fixed rate debt related to property dispositions during the year ended December 31, 2019 . (3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (4) Deferred costs related to the term portion of the Credit Facility (as defined below). (5) Represents deferred financing costs written off during the period resulting from debt repayments prior to the respective maturity dates. Notes Payable As of December 31, 2019 , the fixed rate debt outstanding of $726.3 million included $60.0 million of variable rate debt that is fixed through interest rate swap agreements, which has the effect of fixing the variable interest rates per annum through the maturity date of the variable rate debt. The fixed rate debt has interest rates ranging from 2.6% to 5.0% per annum. The fixed rate debt outstanding matures on various dates from April 1, 2020 through May 10, 2024 . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $1.3 billion as of December 31, 2019 . Each of the mortgage notes payable, comprising the fixed rate debt, is secured by the respective properties on which the debt was placed. Subsequent to December 31, 2019 , the Company repaid $97.0 million of mortgage notes due to the disposition of the underlying properties, as discussed in Note 17 — Subsequent Events . With respect to the Company’s $115.2 million of debt maturing within the next 12 months following the date these financial statements are issued, the Company believes cash on hand, proceeds from real estate asset dispositions, net cash provided by operations, borrowings available under the Credit Facility or the entry into new financing arrangements will be sufficient in order to meet its debt obligations. Pursuant to the Purchase and Sale Agreement described in Note 4 — Real Estate Assets , total consideration for the sale of 444 properties during the year ended December 31, 2019 included the assumption by the Purchaser of existing mortgage debt totaling $130.8 million , the repayment of $101.3 million of certain mortgage notes due to the disposition of the underlying properties, the repayment of $165.0 million on the unsecured term loan balance and repayment of $266.0 million on the unsecured revolving loan balance. Credit Facilities The Company has a second amended and restated unsecured credit agreement (the “Second Amended and Restated Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent (“JPMorgan Chase”), and the other lenders party thereto that provided for borrowings of up to $1.24 billion as of December 31, 2019 , which included a $885.0 million unsecured term loan (the “Term Loan”) and up to $350.0 million in unsecured revolving loans (the “Revolving Loans” and collectively, with the Term Loan, the “Credit Facility”). The Term Loan matures on March 15, 2022 and the Revolving Loans mature on March 15, 2021 ; however, the Company has the right to extend the maturity date of the Revolving Loans to March 15, 2022 . Depending upon the type of loan specified and overall leverage ratio, the Credit Facility bears interest at (i) the one-month, two-month, three-month or six-month LIBOR multiplied by the statutory reserve rate (the “Eurodollar Rate”) plus an interest rate spread ranging from 1.65% to 2.25% or (ii) a base rate, ranging from 0.65% to 1.25% , plus the greater of: (a) JPMorgan Chase’s Prime Rate; (b) the Federal Funds Effective Rate (as defined in the Second 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, 2019 , there were no amounts outstanding under the Revolving Loans. As of December 31, 2019 , the Term Loan outstanding totaled $885.0 million , $811.7 million of which is subject to interest rate swap agreements (the “Swapped Term Loan”). The interest rate swap agreements had the effect of fixing the Eurodollar Rate per annum of the Swapped Term Loan at an all-in rate of 4.0% . As of December 31, 2019 , the Company had $885.0 million outstanding under the Credit Facility at a weighted average interest rate of 4.0% and $349.4 million in unused capacity, subject to borrowing availability. The Company had available borrowings of $107.1 million as of December 31, 2019 . The Second 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 Second Amended and Restated Credit Agreement requires the Company to maintain a minimum consolidated net worth greater than or equal to the sum of (i) $2.0 billion plus (ii) 75% of the equity issued minus (iii) the aggregate amount of any redemptions or similar transaction from the date of the Second Amended and Restated Credit Agreement, a leverage ratio less than or equal to 60% , a fixed charge coverage ratio greater than 1.50 , an unsecured debt to unencumbered asset value ratio equal to or less than 60% , an unsecured debt service coverage ratio greater than 1.75 , a secured debt ratio equal to or less than 40% and the amount of secured debt that is recourse debt at no greater than 15% of total asset value. The Company believes it was in compliance with the financial covenants under the Second Amended and Restated Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements, as of December 31, 2019 , with the exception of one mortgage note where the Company failed to meet the debt service coverage ratio covenant under the mortgage at December 31, 2019 . Pursuant to the loan agreement, non-compliance with the debt service coverage ratio covenant triggers a cash sweep of the underlying property’s operating cash flow. As of December 31, 2019 , a cash sweep of the underlying property’s operating cash flow had not been initiated. On December 31, 2019 (the “Closing Date”), CMFT Corporate Credit Securities, LLC, an indirect wholly-owned, bankruptcy-remote subsidiary of the Company, entered into a revolving credit and security agreement (the “Credit and Security Agreement”) with the lenders from time to time parties thereto, Citibank, N.A. (“Citibank”), as administrative agent, CMFT Securities Investments, LLC, a wholly-owned subsidiary of the Company, as equityholder and as collateral manager, Citibank (acting through its Agency & Trust division), as both a collateral agent and as a collateral custodian, and Virtus Group, LP, as collateral administrator. The Credit and Security Agreement provides for borrowings in an aggregate principal amount up to $300.0 million (the “Credit Securities Revolver”), which may be increased from time to time pursuant to the Credit and Security Agreement. As of December 31, 2019 , there were no amounts borrowed or outstanding under the Credit Securities Revolver. Borrowings under the Credit and Security Agreement will bear interest equal to the three-month LIBOR for the relevant interest period, plus an applicable rate. The applicable rate is 1.70% per annum during the reinvestment period and 2.00% per annum during the amortization period (and, in each case, an additional 2.00% per annum following an event of default under the Credit and Security Agreement). The reinvestment period begins on the Closing Date and concludes on the earlier of (i) the date that is three years after the Closing Date, (ii) the final maturity date and (iii) the date on which the total assets under management of the Company and its wholly-owned subsidiaries is less than $1.25 billion (the “Reinvestment Period”). The final maturity date is the earliest to occur of: (i) the date that the Credit Securities Revolver is paid down and (ii) the second anniversary after the Reinvestment Period concludes. Maturities The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2019 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2020 $ 165,678 2021 97,701 2022 913,962 2023 366,155 2024 67,765 Thereafter — Total $ 1,611,261

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	NOTE 9 — SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2019 , 2018 and 2017 are as follows (in thousands): Year Ended December 31, 2019 2018 2017 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 16,510 $ 16,518 $ 16,531 Accrued capital expenditures $ 1,165 $ 557 $ 192 Interest income capitalized to loans held-for-investment $ 8,546 $ 384 $ — Common stock issued through distribution reinvestment plan $ 82,388 $ 91,764 $ 101,344 Change in fair value of interest rate swaps $ (14,913 ) $ 3,875 $ 7,654 Mortgage notes assumed by buyer in real estate disposition $ (205,765 ) $ — $ — Supplemental Cash Flow Disclosures: Interest paid $ 97,418 $ 93,424 $ 85,140 Cash paid for taxes $ 1,218 $ 1,475 $ 1,555

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 — COMMITMENTS AND CONTINGENCIES Litigation In the ordinary course of business, the Company may become subject to litigation and claims. The Company is not aware of any material pending legal proceedings, other than ordinary routine litigation incidental to the Company’s business, to which the Company is a party or of which the Company’s properties are the subject. Unfunded Commitments As of December 31, 2019 , the Company had $16.2 million of unfunded commitments related to loans held-for-investment. These commitments are not reflected in the accompanying consolidated balance sheet. Unsettled Broadly Syndicated Loans As of December 31, 2019 , the Company had $126.8 million reserved for settlement of broadly syndicated loan purchases included in cash and cash equivalents in the accompanying consolidated balance sheet, of which $122.9 million settled subsequent to December 31, 2019 . 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, 2019
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	NOTE 11 — RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred fees and expenses payable to CMFT Management and certain of its affiliates in connection with the acquisition, management and disposition of its assets. On August 20, 2019, the Company and CMFT Management entered into an Amended and Restated Management Agreement (the “Management Agreement”), which amended and restated that certain Advisory Agreement between the parties dated January 24, 2012, as amended (the “Prior Advisory Agreement”). Following the effective date of the Management Agreement, CMFT Management is no longer entitled to receive the advisory fee, acquisition fees, subordinated performance fee, or disposition fees pursuant to the Prior Advisory Agreement, as described below; provided, however, that for the Company’s properties under contract to be sold or specifically identified in a broker agreement as being marketed for sale as of the effective date of the Management Agreement, CMFT Management may be entitled to receive a disposition fee in accordance with the terms of the Prior Advisory Agreement. In addition, CMFT Management generally shall continue to be entitled to reimbursement for costs and expenses to the extent incurred on behalf of the Company in accordance with the Management Agreement; provided, however, that the limits on reimbursement for organization and offering expenses, acquisition expenses and operating expenses as defined and provided in the Prior Advisory Agreement shall no longer be applicable. Management fees Pursuant to the Management Agreement, beginning on August 20, 2019, the Company pays CMFT Management a management fee, payable quarterly in arrears, equal to the greater of (a) $250,000 per annum ( $62,500 per quarter) and (b) 1.50% per annum ( 0.375% per quarter) of the Company’s Equity (as defined in the Management Agreement). Incentive compensation Pursuant to the Management Agreement, beginning on August 20, 2019, CMFT Management is entitled to receive incentive compensation, payable with respect to each quarter, which is generally equal to the excess of (a) the product of (i) 20% and (ii) the excess of (A) Core Earnings (as defined in the Management Agreement) of the Company for the previous 12-month period, over (B) the product of (1) the Company’s Consolidated Equity (as defined in the Management Agreement) in the previous 12-month period, and (2) 7% per annum, over (b) the sum of any incentive compensation paid to CMFT Management with respect to the first three calendar quarters of such previous 12-month period (or such lesser number of completed calendar quarters preceding the applicable period, if applicable). During the year ended December 31, 2019 , no incentive compensation fees were incurred. Acquisition fees and expenses Pursuant to the Prior Advisory Agreement, through August 20, 2019, the Company paid CMFT Management or its affiliates acquisition fees of up to 2.0% of: (1) the contract purchase price of each property or asset the Company acquired; (2) the amount paid in respect of the development, construction or improvement of each asset the Company acquired; (3) the purchase price of any loan the Company acquired; and (4) the principal amount of any loan the Company originated. In addition, the Company reimbursed CMFT Management or its affiliates for acquisition-related expenses incurred in the process of acquiring properties, so long as the total acquisition fees and expenses relating to the transaction do not exceed 6.0% of the contract purchase price, unless otherwise approved by a majority of the Board, including a majority of the Company’s independent directors, as commercially competitive, fair and reasonable to the Company. Other transaction-related expenses, such as advisor reimbursements for disposition activities, are expensed as incurred and are included in transaction-related expenses on the consolidated statements of operations. Advisory fees and expenses Pursuant to the Prior Advisory Agreement, through August 20, 2019, the Company paid CMFT Management a monthly advisory fee based upon the Company’s monthly average invested assets, which, effective January 1, 2019, was based on the estimated market value of such assets used to determine the Company’s estimated per share NAV as of December 31, 2018, as discussed in Note 1 — Organization and Business , and for those assets acquired subsequent to December 31, 2018, was based on the purchase price. The monthly advisory fee was equal to the following amounts: (1) an annualized rate of 0.75% paid on the Company’s average invested assets that are between $0 and $2.0 billion ; (2) an annualized rate of 0.70% paid on the Company’s average invested assets that are between $2.0 billion and $4.0 billion ; and (3) an annualized rate of 0.65% paid on the Company’s average invested assets that are over $4.0 billion . Operating expenses The Company reimburses CMFT Management or its affiliates for certain expenses CMFT Management or its affiliates paid or incurred in connection with the services provided to the Company. Through August 20, 2019, such reimbursements were subject to the limitation that the Company would not reimburse CMFT Management or its affiliates for any amount by which the operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceeded the greater of: (1) 2.0% of average invested assets, or (2) 25.0% of net income excluding any additions to reserves for depreciation or other similar non-cash reserves and excluding any gain from the sale of assets for that period. Pursuant to the Management Agreement, beginning on August 20, 2019, such limits are no longer applicable. The Company will reimburse CMFT Management or its affiliates for salaries and benefits paid to personnel who provide services to the Company including the Company’s executive officers and any portfolio management, acquisitions or investment professionals. Disposition fees Pursuant to the Prior Advisory Agreement, through August 20, 2019, if CMFT Management or its affiliates provided a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of one or more properties (or the Company’s entire portfolio), the Company paid CMFT Management or its affiliates a disposition fee in an amount equal to up to one-half of the real estate or brokerage commission paid by the Company to third parties on the sale of such property, not to exceed 1.0% of the contract price of the property sold; provided, however, in no event would the total disposition fees paid to CMFT Management, its affiliates and unaffiliated third parties exceed the lesser of the customary competitive real estate commission or an amount equal to 6.0% of the contract sales price. For the Company’s properties under contract to be sold or specifically identified in a broker agreement as being marketed for sale as of August 20, 2019, CMFT Management may be entitled to receive a disposition fee in accordance with the terms of the Prior Advisory Agreement. Subordinated performance fees Pursuant to the Prior Advisory Agreement, through August 20, 2019, if the Company was sold or its assets were liquidated, CMFT Management was entitled to receive a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after stockholders received, from regular distributions plus special distributions paid from proceeds of such sale, a return of their net capital invested and an 8.0% annual cumulative, non-compounded return. Alternatively through August 20, 2019, if the Company’s shares were listed on a national securities exchange, CMFT Management was entitled to a subordinated performance fee equal to 15.0% of the amount by which the market value of the Company’s outstanding stock plus all distributions paid by the Company prior to listing, exceeded the sum of the total amount of capital raised from stockholders and the amount of distributions necessary to generate an 8.0% annual cumulative, non-compounded return to stockholders. As an additional alternative, upon termination of the Prior Advisory Agreement, CMFT Management was entitled to a subordinated performance fee similar to the fee to which CMFT Management would have been entitled had the portfolio been liquidated (based on an independent appraised value of the portfolio) on the date of termination. During each of the years ended December 31, 2019 , 2018 and 2017 , no subordinated performance fees were incurred related to any such events. The Company recorded fees and expense reimbursements as shown in the table below for services provided by CMFT Management or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2019 2018 2017 Management fees and expenses $ 16,350 (1 ) $ — $ — Acquisition fees and expenses $ 2,110 $ 2,749 $ 6,532 Disposition fees $ 3,967 $ 478 $ — Advisory fees and expenses $ 25,989 $ 43,399 $ 44,072 Operating expenses $ 3,594 $ 5,163 $ 4,494 ____________________________________ (1) Includes advisor reimbursements incurred subject to the Management Agreement. Of the amounts shown above, $14.5 million and $5.2 million had been incurred, but not yet paid, for services provided by CMFT Management or its affiliates in connection with the acquisition, disposition and operating activities during the years ended December 31, 2019 and 2018 , respectively, and such amounts were recorded as liabilities of the Company as of such dates. Due to Affiliates As of December 31, 2019 and 2018 , $14.5 million and $5.2 million , respectively, had been incurred primarily for management fees, disposition fees and operating expenses by CMFT Management or its affiliates, but had not yet been reimbursed by the Company. These amounts were included in due to affiliates in the consolidated balance sheets for such periods.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2019
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	NOTE 12 — ECONOMIC DEPENDENCY Under various agreements, the Company has engaged and may in the future engage CMFT Management or its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, as well as other administrative responsibilities for the Company including accounting services and stockholder relations. As a result of these relationships, the Company is dependent upon CMFT Management or its affiliates. In the event that these companies are unable to provide the Company with these services, the Company would be required to find alternative providers of these services.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 13 — STOCKHOLDERS’ EQUITY As of December 31, 2019, 2018 and 2017, the Company was authorized to issue $600.0 million of shares of common stock under the Secondary DRIP Offering. All shares of such stock have a par value of $0.01 per share. The par value of stockholder proceeds raised from the DRIP Offerings is classified as common stock, with the remainder allocated to capital in excess of par value. On August 11, 2010, the Company sold 20,000 shares of common stock, at $10.00 per share, to Cole Holdings Corporation (“CHC”). On April 5, 2013, the ownership of such shares was transferred to CREInvestments, LLC, an affiliate of CMFT Management. On February 7, 2014, the ownership of such shares was transferred to VEREIT Operating Partnership, L.P. (“VEREIT OP”), a former affiliated entity of the Company’s sponsor. On February 1, 2018, the ownership of such shares was transferred by VEREIT OP to CMFT Management. 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 at the most recent estimated per share NAV as determined by the Board. The Board may terminate or amend the Secondary DRIP Offering at the Company’s discretion at any time upon ten days’ prior written notice to the stockholders. During the years ended December 31, 2019 , 2018 and 2017 , approximately 9.3 million , 9.6 million and 10.1 million shares were purchased under the DRIP Offerings for approximately $82.4 million , $91.8 million and $101.3 million , respectively, which were recorded as redeemable common stock on the consolidated balance sheets. 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, among other things, to the net proceeds the Company receives from the sale of shares under the DRIP Offerings, net of shares redeemed to date. In an effort to accommodate redemption requests throughout the calendar year, the Company intends to limit quarterly redemptions to approximately 1.25% of the weighted average number of shares outstanding during the trailing 12 -month 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 Offerings. Except for redemptions due to a stockholder’s death, bankruptcy or other exigent circumstances, the redemption price per share will equal the per share value shown on the stockholder’s most recent customer account statement. The redemption price will be adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to the Company’s common stock if any such event is not already reflected in the per share value shown on the stockholder’s most recent customer account statement. See the discussion of the updated estimated per share NAV of the Company’s common stock effective March 25, 2020 in Note 17 — Subsequent Events . Upon receipt of a request for redemption, the Company may conduct a Uniform Commercial Code search to ensure that no liens are held against the shares. If the Company cannot purchase all shares presented for redemption in any fiscal quarter, based upon insufficient cash available and/or the limit on the number of shares the Company may redeem during any quarter or year, the Company will give priority to the redemption of deceased stockholders’ shares. The Company next will give priority to requests for full redemption of accounts with a balance of 250 shares or less at the time the Company receives the request, in order to reduce the expense of maintaining small accounts. Thereafter, the Company will honor the remaining quarterly redemption requests on a pro rata basis. Following such quarterly redemption period, the unsatisfied portion of the prior redemption request must be resubmitted, prior to the last day of the new quarter. Unfulfilled requests for redemption will not be carried over automatically to subsequent redemption periods. The Company redeems shares no later than the end of the month following the end of each fiscal quarter. Requests for redemption must be received on or prior to the end of the fiscal quarter in order for the Company to repurchase the shares in the month following the end of that fiscal quarter. The Board may amend, suspend or terminate the share redemption program at any time upon 30 days’ prior written notice to the stockholders. During the years ended December 31, 2019 , 2018 and 2017 , the Company redeemed approximately 9.5 million , 9.8 million and 10.3 million shares, respectively, under the share redemption program for $84.1 million , $93.8 million and $103.7 million , respectively. During the year ended December 31, 2019 , redemption requests relating to approximately 79.1 million shares went unfulfilled. Distributions Payable and Distribution Policy The Board authorized a daily distribution, based on 365 days in the calendar year, of $0.001711452 per share for stockholders of record as of the close of business on each day of the period commencing on January 1, 2018 and ending on December 31, 2019. The Board authorized a daily distribution, based on 366 days in the calendar year, of $0.001706776 per share for stockholders of record as of the close of business on each day of the period commencing on January 1, 2020 and ending on March 31, 2020 . As of December 31, 2019 , the Company had distributions payable of $16.5 million . Subsequent to December 31, 2019 , the Board reaffirmed the declaration and payment of distributions for the month of March 2020 at the rate previously declared on November 5, 2019, which distributions will be paid on or around April 1, 2020. Given the impact of the novel strain of coronavirus (“COVID-19”) outbreak, the Board has decided to defer making a determination as to the amount and timing of distributions for the second quarter of 2020 until such time that the Company has greater visibility into the impact that the COVID-19 outbreak will have on the Company’s tenants’ ability to continue to pay rent on their leases on a timely basis or at all, the degree to which federal, state or local governmental authorities grant rent relief or other relief or amnesty programs applicable to the Company’s tenants, the Company’s ability to access the capital markets, and on the United States and worldwide financial markets and economy. Equity-Based Compensation On August 10, 2018, the Board approved the adoption of the Company’s 2018 Equity Incentive Plan (the “Plan”), under which 400,000 of the Company’s common shares were reserved for issuance and share awards of approximately 367,500 are available for future grant at December 31, 2019 . Under the Plan, the Board or a committee designated by the Board has the authority to grant restricted stock awards or deferred stock awards to non-employee directors of the Company, which will further align such directors’ interests with the interests of the Company’s stockholders. The Board or committee also has the authority to determine the terms of any award granted pursuant to the Plan, including vesting schedules, restrictions and acceleration of any restrictions. The Plan may be amended or terminated by the Board at any time. The Plan expires on August 9, 2028. As of December 31, 2019 , the Company has granted awards of approximately 6,500 restricted shares to each of the independent members of the Board (approximately 32,500 restricted shares in aggregate) under the Plan. As of December 31, 2019 , 14,000 of the restricted shares had vested based on one year of continuous service. The remaining 18,500 restricted shares issued had not vested or been forfeited as of December 31, 2019 . The fair value of the Company’s share awards is determined using the Company’s NAV per share on the date of grant. Compensation expense related to the restricted shares is recognized over the vesting period. The Company recorded compensation expense of $138,000 and $33,000 for the years ended December 31, 2019 and 2018 , respectively, related to the restricted shares included in general and administrative expenses in the accompanying consolidated statement of operations. As of December 31, 2019 , there was $120,000 of total unrecognized compensation expense related to shares, which will be recognized ratably over the remaining period of service prior to October 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 14 — INCOME TAXES For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nondividend distributions. Nondividend distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions the Company paid on a percentage basis for the years ended December 31, 2019 , 2018 and 2017 : Year Ended December 31, Character of Distributions: 2019 2018 2017 Ordinary dividends 39 % 52 % 51 % Nondividend distributions 7 % 48 % 42 % Capital gain distributions 54 % — % 7 % Total 100 % 100 % 100 % During the years ended December 31, 2019 , 2018 and 2017 , the Company incurred state and local income and franchise taxes of $1.5 million , $1.4 million , and $1.6 million , respectively, which were recorded in general and administrative expenses in the consolidated statements of operations. The Company had no unrecognized tax benefits as of or during the years ended December 31, 2019 and 2018 . Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES	NOTE 15 — LEASES The Company’s real estate assets are leased to tenants under operating leases for which the terms, expirations and extension options vary. The Company’s operating leases do not convey to the lessee the right to purchase the underlying asset upon expiration of the lease period. To determine whether a contract contains a lease, the Company reviews contracts to determine if the agreement conveys the right to control the use of an asset. The Company adopted ASC 842, using the optional alternative transition method and used the effective date as the date of initial application. Consequently, financial information was not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company elected to apply the practical expedient for all of the Company’s leases to account for the lease and non-lease components as a single, combined operating lease component under ASC 842. Non-lease components primarily consist of maintenance services, including CAM, real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. Non-lease components are considered to be variable rental and other property income and are recognized in the period incurred. As of December 31, 2019 , the leases had a weighted-average remaining term of 8.6 years. Certain leases include provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other negotiated terms and conditions. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2019 , the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2020 $ 232,207 2021 219,740 2022 206,813 2023 186,798 2024 162,585 Thereafter 1,051,702 Total $ 2,059,845 As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, as of December 31, 2018 (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 352,699 2020 343,991 2021 327,661 2022 311,858 2023 284,510 Thereafter 1,718,650 Total $ 3,339,369 A certain amount of the Company’s rental and other property income is from tenants with leases which are subject to contingent rent provisions. These contingent rents are subject to the tenant achieving periodic revenues in excess of specified levels. For the years ended December 31, 2019 , 2018 and 2017 , the amount of the contingent rent earned by the Company was not significant. Rental and other property income during years ended December 31, 2019 , 2018 and 2017 consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Fixed rental and other property income (1) $ 342,453 $ 368,847 $ 371,139 Variable rental and other property income (2) 50,771 $ 60,789 $ 52,956 Total rental and other property income $ 393,224 $ 429,636 $ 424,095 __________________________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent, net of bad debt expense. The Company has one property subject to a non-cancelable operating ground lease with a remaining term of 13.7 years. Upon initial adoption of ASC 842, the Company recognized a lease liability (in deferred rental income and other liabilities) and a related ROU asset (in prepaid expenses, derivative assets and other assets) of $2.7 million in the consolidated balance sheets. The lease liability and ROU asset were initially measured at the present value of the future minimum lease payments using a discount rate of 4.3% . This reflects the Company’s incremental borrowing rate, which was calculated based on the interest rate the Company would incur to borrow on a fully collateralized basis over a term similar to the lease. The Company recognized $250,000 of ground lease expense during the year ended December 31, 2019 , of which $242,000 was paid in cash during the period it was recognized. As of December 31, 2019 , the Company’s scheduled future minimum rental payments related to its operating ground lease is approximately $250,000 annually for 2020 through 2024, and $2.2 million thereafter through the maturity date of the lease in August 2033.
LEASES	NOTE 15 — LEASES The Company’s real estate assets are leased to tenants under operating leases for which the terms, expirations and extension options vary. The Company’s operating leases do not convey to the lessee the right to purchase the underlying asset upon expiration of the lease period. To determine whether a contract contains a lease, the Company reviews contracts to determine if the agreement conveys the right to control the use of an asset. The Company adopted ASC 842, using the optional alternative transition method and used the effective date as the date of initial application. Consequently, financial information was not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company elected to apply the practical expedient for all of the Company’s leases to account for the lease and non-lease components as a single, combined operating lease component under ASC 842. Non-lease components primarily consist of maintenance services, including CAM, real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. Non-lease components are considered to be variable rental and other property income and are recognized in the period incurred. As of December 31, 2019 , the leases had a weighted-average remaining term of 8.6 years. Certain leases include provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other negotiated terms and conditions. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2019 , the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2020 $ 232,207 2021 219,740 2022 206,813 2023 186,798 2024 162,585 Thereafter 1,051,702 Total $ 2,059,845 As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, as of December 31, 2018 (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 352,699 2020 343,991 2021 327,661 2022 311,858 2023 284,510 Thereafter 1,718,650 Total $ 3,339,369 A certain amount of the Company’s rental and other property income is from tenants with leases which are subject to contingent rent provisions. These contingent rents are subject to the tenant achieving periodic revenues in excess of specified levels. For the years ended December 31, 2019 , 2018 and 2017 , the amount of the contingent rent earned by the Company was not significant. Rental and other property income during years ended December 31, 2019 , 2018 and 2017 consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Fixed rental and other property income (1) $ 342,453 $ 368,847 $ 371,139 Variable rental and other property income (2) 50,771 $ 60,789 $ 52,956 Total rental and other property income $ 393,224 $ 429,636 $ 424,095 __________________________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent, net of bad debt expense. The Company has one property subject to a non-cancelable operating ground lease with a remaining term of 13.7 years. Upon initial adoption of ASC 842, the Company recognized a lease liability (in deferred rental income and other liabilities) and a related ROU asset (in prepaid expenses, derivative assets and other assets) of $2.7 million in the consolidated balance sheets. The lease liability and ROU asset were initially measured at the present value of the future minimum lease payments using a discount rate of 4.3% . This reflects the Company’s incremental borrowing rate, which was calculated based on the interest rate the Company would incur to borrow on a fully collateralized basis over a term similar to the lease. The Company recognized $250,000 of ground lease expense during the year ended December 31, 2019 , of which $242,000 was paid in cash during the period it was recognized. As of December 31, 2019 , the Company’s scheduled future minimum rental payments related to its operating ground lease is approximately $250,000 annually for 2020 through 2024, and $2.2 million thereafter through the maturity date of the lease in August 2033.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	NOTE 16 — QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2019 and 2018 (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, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 109,260 $ 105,529 $ 105,479 $ 93,088 Net income $ 8,851 $ 9,006 $ 2,573 $ 162,590 Net income attributable to the Company $ 8,817 $ 8,973 $ 2,541 $ 162,568 Basic and diluted net income per common share (1) $ 0.03 $ 0.03 $ 0.01 $ 0.52 ____________________________________ (1) The Company calculates net income per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 109,503 $ 107,395 $ 105,705 $ 108,673 Net income (loss) $ 19,073 $ 17,825 $ 14,905 $ (14,391 ) Net income (loss) attributable to the Company $ 19,039 $ 17,792 $ 14,872 $ (14,425 ) Basic and diluted net income (loss) per common share (1) $ 0.06 $ 0.06 $ 0.05 $ (0.05 ) ____________________________________ (1) The Company calculates net income (loss) 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, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 17 — SUBSEQUENT EVENTS Subsequent to December 31, 2019 , there was a global outbreak of COVID-19. The global and domestic response to the COVID-19 outbreak continues to rapidly evolve. Thus far, certain responses to the COVID-19 outbreak have included mandates from federal, state and/or local authorities that required temporary closure of or imposed limitations on the operations of certain non-essential retailers. The COVID-19 outbreak and associated responses could negatively impact future tenant sales and operations at the Company’s properties, which could result in material impact to the Company’s future results of operations, cash flows and financial condition. The Company is unable to estimate the impact the novel coronavirus will have on its financial results at this time. Redemption of Shares of Common Stock Subsequent to December 31, 2019 , the Company redeemed approximately 2.3 million shares pursuant to the Company’s share redemption program for $19.5 million (at an average price per share of $8.65 ). Management, in its discretion, limited the amount of shares redeemed for the three months ended December 31, 2019 to an amount equal to net proceeds the Company received from the sale of shares in the DRIP Offerings during the respective period. The remaining redemption requests received during the three months ended December 31, 2019 totaling approximately 20.6 million shares went unfulfilled. Property Dispositions Subsequent to December 31, 2019 , the Company disposed of 12 properties for an aggregate gross sales price of $129.0 million , including seven properties disposed of for $26.3 million pursuant to the Purchase and Sales Agreement discussed in Note 4 — Real Estate Assets . The property dispositions resulted in proceeds of $127.0 million after closing costs and disposition fees to CMFT Management or its affiliates and a gain of approximately $13.1 million . The Company has no continuing involvement with these properties. Notes Payable Subsequent to December 31, 2019 , the Company repaid $97.0 million of mortgage note due to the disposition of the underlying properties. Broadly Syndicated Loans Subsequent to December 31, 2019 , the Company settled $328.8 million of broadly syndicated loans. Credit Securities Revolver Subsequent to December 31, 2019 , the Company received borrowings under the Credit Securities Revolver in an aggregate principal amount of $100.0 million . The Credit Securities Revolver bears interest equal to the three-month LIBOR for the relevant interest period, plus an applicable rate of 1.70% per annum during the Reinvestment Period and 2.00% per annum during the amortization period, as discussed in Note 8 — Credit Facilities and Notes Payable . Estimated Per Share NAV On March 25, 2020 , the Board established an updated estimated per share NAV of the Company’s common stock as of December 31, 2019 , of $7.77 per share. Commencing on March 30, 2020 , distributions will be reinvested in shares of the Company’s common stock under the Secondary DRIP Offering at a price of $7.77 per share. Pursuant to the terms of the Company’s share redemption program, commencing on March 30, 2020 , the updated estimated per share NAV of $7.77 , as of December 31, 2019 , will serve as the most recent estimated value for purposes of the share redemption program going forward, until such time as the Board determines a new estimated per share NAV.

Schedule III - Real Estate Asse

Schedule III - Real Estate Assets and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation	Initial Costs to Company Gross Amount at Buildings, Total Which Carried Accumulated Fixtures and Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Real Estate Held for Investment: 10Box Cost-Plus: Conway, AR (h) $ 733 $ 1,654 $ — $ 2,387 $ 118 9/5/2017 1989 Russellville, AR (h) 990 1,470 — 2,460 130 3/20/2017 1989 Academy Sports: Clarksville, TN (h) 1,811 6,603 — 8,414 993 6/17/2014 2014 Cookeville, TN (h) — 23,847 73,371 97,218 9,604 9/30/2014 2015 Douglasville, GA (h) 1,360 8,593 — 9,953 1,276 6/12/2014 2014 Flowood, MS (h) 1,534 7,864 — 9,398 1,251 6/27/2014 2014 Greenville, NC (h) 1,968 7,054 — 9,022 633 1/12/2017 2016 McDonough, GA (h) 1,846 5,626 — 7,472 891 4/24/2014 2010 Valdosta, GA $ 5,838 2,482 5,922 — 8,404 1,167 5/10/2013 2012 Advance Auto: Mattoon, IL (h) 261 1,063 — 1,324 107 12/4/2015 2015 Willmar, MN (h) 200 1,279 — 1,479 155 3/25/2015 2014 Albany Square: Albany, GA 4,600 1,606 7,113 373 9,092 1,382 2/26/2014 2013 Almeda Crossing: Houston, TX (h) 4,738 26,245 (3,163 ) 27,820 503 8/7/2014 2006 AutoZone: Sheffield, OH (h) 815 — 770 1,585 99 10/15/2014 2014 Bass Pro Shops: Tallahassee, FL (h) 945 5,713 — 6,658 1,028 8/20/2013 2013 Beavercreek Shopping Center: Beavercreek, OH — 5,504 25,178 554 31,236 4,419 10/31/2013 2013 Bed Bath & Beyond/La-Z-Boy: Schaumburg, IL 7,300 4,786 6,149 (1,065 ) 9,870 219 3/8/2013 1997 Bob Evans: Akron, OH (h) 447 1,537 — 1,984 129 4/28/2017 2007 Anderson, IN (h) 912 1,455 — 2,367 124 4/28/2017 1984 Austintown, OH (h) 305 1,426 — 1,731 128 4/28/2017 1995 Birch Run, MI (h) 733 1,192 — 1,925 105 4/28/2017 2008 Blue Ash, OH (h) 628 1,429 — 2,057 139 4/28/2017 1994 Chardon, OH (h) 333 682 — 1,015 65 4/28/2017 2003 Chillicothe, OH (h) 557 1,524 — 2,081 133 4/28/2017 1998 Columbus, OH — 523 1,376 — 1,899 124 4/28/2017 2003 Dayton, OH (h) 325 1,438 — 1,763 133 4/28/2017 1998 Eldersburg, MD (h) 557 876 — 1,433 75 4/28/2017 2000 Florence, KY (h) 496 1,876 — 2,372 170 4/28/2017 1991 Holland, MI (h) 314 1,367 — 1,681 123 4/28/2017 2004 Huntersville, NC (h) 751 657 — 1,408 57 4/28/2017 2008 Hurricane, WV (h) 297 1,654 — 1,951 135 4/28/2017 1993 Milford, OH (h) 271 1,498 — 1,769 136 4/28/2017 1987 Monroeville, PA (h) 1,340 848 — 2,188 70 4/28/2017 1995 Nicholasville, KY (h) 731 693 — 1,424 59 4/28/2017 1989 North Canton, OH (h) 859 1,393 — 2,252 126 4/28/2017 2006 Ripley, WV (h) 269 1,304 — 1,573 114 4/28/2017 1988 Tipp City, OH (h) 554 1,120 — 1,674 104 4/28/2017 1989 Initial Costs to Company Gross Amount at Buildings, Total Which Carried Accumulated Fixtures and Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Bob Evans (continued): Warsaw, IN (h) $ 684 $ 1,222 $ — $ 1,906 $ 106 4/28/2017 1993 Boston Commons: Springfield, MA (h) 3,101 7,042 280 10,423 1,085 8/19/2014 2004 Bottom Dollar Grocery: Ambridge, PA $ — 519 2,985 — 3,504 471 11/5/2013 2012 Bryan Crossing: Kodak, TN 4,958 863 6,523 (7,386 ) (i) — — 9/9/2014 2008 Cabela’s: Acworth, GA (h) 4,979 18,775 — 23,754 1,179 9/25/2017 2014 Avon, OH (h) 2,755 10,751 — 13,506 686 9/25/2017 2016 La Vista, NE (h) 3,260 16,923 — 20,183 1,022 9/25/2017 2006 Sun Prairie, WI (h) 3,373 14,058 — 17,431 931 9/25/2017 2015 Caliber Collision Center: Frisco, TX (h) 1,484 2,038 — 3,522 310 9/16/2014 2014 Las Cruces, NM (h) 673 1,949 — 2,622 285 3/21/2014 2014 Midwest City, OK (h) 259 1,165 — 1,424 177 2/21/2014 2013 Denver, CO (h) 855 658 — 1,513 94 6/25/2014 1975 San Antonio, TX (h) 622 832 — 1,454 118 6/4/2014 2014 Wylie, TX (h) 816 2,690 — 3,506 377 2/10/2015 2014 Camping World: Pensacola, FL (h) 2,152 3,831 (1,307 ) 4,676 19 4/29/2014 2014 Canton Marketplace: Canton, GA 32,000 8,310 48,667 (56,977 ) (i) — — 3/28/2013 2009 Carlisle Crossing: Carlisle, PA — 4,491 15,817 14 20,322 2,527 9/18/2014 2006 Chase: Hanover Township, NJ (h) 2,192 — — 2,192 — 12/18/2013 2012 Chestnut Square: Brevard, NC (h) 425 5,037 (5,462 ) (i) — — 6/7/2013 2008 Chick-fil-A: Dickson City, PA — 1,113 7,946 (7,817 ) 1,242 194 6/30/2014 2013 Costco: Tallahassee, FL 5,146 9,497 — — 9,497 — 12/11/2012 2006 Cottonwood Commons: Albuquerque, NM 19,250 4,986 28,881 196 34,063 4,928 7/19/2013 2013 Coventry Crossing: Coventry, RI 6,000 3,462 5,899 (2,291 ) 7,070 — 9/12/2013 2008 Crosspoint: Hagerstown, MD (h) 12,285 14,359 (1,024 ) 25,620 2,522 9/30/2014 2000 Crossroads Annex: Lafayette, LA (h) 1,659 7,091 (8,750 ) (i) — — 12/4/2013 2013 Crossroads Commons: Plover, WI (h) 1,000 4,515 (5,515 ) (i) — — 12/10/2013 2012 CVS: Arnold, MO (h) 2,043 2,367 — 4,410 368 12/13/2013 2013 Asheville, NC (h) 1,108 1,084 — 2,192 220 4/26/2012 1998 Austin, TX (h) 1,076 3,475 — 4,551 537 12/13/2013 2013 Initial Costs to Company Gross Amount at Buildings, Total Which Carried Accumulated Fixtures and Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed CVS (continued): Bloomington, IN (h) $ 1,620 $ 2,957 $ — $ 4,577 $ 460 12/13/2013 2012 Blue Springs, MO (h) 395 2,722 — 3,117 423 12/13/2013 2013 Bridgeton, MO (h) 2,056 2,362 — 4,418 367 12/13/2013 2013 Charleston, SC (h) 869 1,009 — 1,878 205 4/26/2012 1998 Chesapeake, VA (h) 1,044 3,053 — 4,097 484 12/13/2013 2013 Chicago, IL (h) 1,832 4,255 — 6,087 722 3/20/2013 2008 Cicero, IN (h) 487 3,099 — 3,586 481 12/13/2013 2013 Corpus Christi, TX (h) 648 2,557 — 3,205 501 4/19/2012 1998 Danville, IN (h) 424 2,105 76 2,605 312 7/16/2014 1998 Eminence, KY (h) 872 2,511 — 3,383 385 12/13/2013 2013 Goose Creek, SC (h) 1,022 1,980 — 3,002 305 12/13/2013 2013 Greenwood, IN (h) 912 3,549 61 4,522 580 7/11/2013 1999 Hanover Township, NJ (h) 4,746 — — 4,746 — 12/18/2013 2012 Hazlet, NJ (h) 3,047 3,610 — 6,657 558 12/13/2013 2013 Honesdale, PA (h) 1,206 3,342 — 4,548 532 12/13/2013 2013 Independence, MO (h) 359 2,242 — 2,601 349 12/13/2013 2013 Indianapolis, IN (h) 1,110 2,484 — 3,594 386 12/13/2013 2013 Irving, TX (h) 745 3,034 — 3,779 562 10/5/2012 2000 Janesville, WI (h) 736 2,545 — 3,281 395 12/13/2013 2013 Katy, TX (h) 1,149 2,462 — 3,611 374 12/13/2013 2013 Lincoln, NE (h) 2,534 3,014 — 5,548 467 12/13/2013 2013 London, KY (h) 1,445 2,661 — 4,106 431 9/10/2013 2013 Middletown, NY (h) 665 5,483 — 6,148 840 12/13/2013 2013 North Wilkesboro, NC (h) 332 2,369 73 2,774 373 10/25/2013 1999 Poplar Bluff, MO (h) 1,861 2,211 — 4,072 345 12/13/2013 2013 Salem, NH (h) 3,456 2,351 — 5,807 362 11/18/2013 2013 San Antonio, TX (h) 1,893 1,848 — 3,741 291 12/13/2013 2013 Sand Springs, OK (h) 1,765 2,283 — 4,048 357 12/13/2013 2013 Santa Fe, NM (h) 2,243 4,619 — 6,862 706 12/13/2013 2013 Sedalia, MO (h) 466 2,318 — 2,784 361 12/13/2013 2013 St. John, MO (h) 1,546 2,601 — 4,147 404 12/13/2013 2013 Temple Hills, MD (h) 1,817 2,989 — 4,806 476 9/30/2013 2001 Vineland, NJ (h) 813 2,926 — 3,739 469 12/13/2013 2010 Waynesboro, VA (h) 986 2,708 — 3,694 421 12/13/2013 2013 West Monroe, LA (h) 1,738 2,136 — 3,874 334 12/13/2013 2013 Darien Towne Center: Darien, IL (h) 6,718 11,951 915 19,584 2,713 12/17/2013 1994 Decatur Commons: Decatur, AL $ 7,000 2,478 9,333 861 12,672 1,773 7/10/2013 2004 Dick’s PetSmart Center: Oshkosh, WI (h) 1,445 6,599 (1,667 ) 6,377 — 9/23/2016 2015 Dick’s Sporting Goods: Oklahoma City, OK 5,858 685 10,587 — 11,272 2,077 12/31/2012 2012 Dollar General: Akron, OH (h) 112 1,099 — 1,211 190 11/1/2013 2013 Initial Costs to Company Gross Amount at Buildings, Total Which Carried Accumulated Fixtures and Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Dollar General (continued): Buffalo, NY (h) $ 122 $ 1,099 $ — $ 1,221 $ 148 12/5/2014 2014 Columbus, OH (h) 279 1,248 — 1,527 216 11/7/2013 2013 Des Moines, IA (h) 166 943 — 1,109 162 8/9/2013 2012 Houston, TX (h) 255 1,393 — 1,648 223 10/18/2013 2013 Kansas City, MO (h) 283 1,068 — 1,351 178 10/18/2013 2013 Kansas City, MO (h) 233 1,054 — 1,287 174 11/1/2013 2013 Lamesa, TX (h) 75 803 (878 ) (i) — — 7/31/2014 2014 Lansing, MI (h) 232 939 — 1,171 133 6/25/2014 2014 Leicester, NC (h) 134 800 (934 ) (i) — — 6/17/2013 2013 Mission, TX (h) 182 858 — 1,040 123 9/5/2014 2014 Mobile, AL (h) 410 1,059 — 1,469 190 6/17/2013 2013 Nashville, MI (h) 103 1,255 (1,358 ) (i) — — 1/24/2014 2013 Parchment, MI (h) 168 1,162 — 1,330 164 6/25/2014 2014 Pueblo, CO (h) 144 909 — 1,053 163 1/4/2013 2012 Ravenna, MI (h) 199 958 (1,157 ) (i) — — 1/24/2014 2013 Romulus, MI (h) 274 1,171 — 1,445 174 3/7/2014 2013 Russell, KS (h) 54 899 (953 ) (i) — — 8/5/2014 2014 Shelby, MI (h) 128 1,033 (1,161 ) (i) — — 1/24/2014 2013 Spring, TX (h) 277 1,132 — 1,409 183 9/30/2013 2013 Springfield, IL (h) 205 934 — 1,139 129 9/17/2014 2014 St. Louis, MO (h) 229 1,102 — 1,331 178 12/31/2013 2013 St. Louis, MO (h) 240 1,118 — 1,358 178 1/15/2014 2013 Weslaco, TX (h) 141 848 — 989 121 9/5/2014 2014 East Manchester Village Center: Manchester, PA $ 8,300 2,517 12,672 233 15,422 2,117 12/19/2013 2009 East West Commons: Austell, GA 13,000 10,094 16,034 3,943 30,071 2,822 9/30/2014 2002 Evergreen Marketplace: Evergreen Park, IL (h) 2,823 6,239 — 9,062 1,283 9/6/2013 2013 Family Dollar: Adelanto, GA (h) 463 1,711 — 2,174 230 11/14/2014 2014 Bessemer, AL (h) 201 1,043 — 1,244 168 12/27/2013 2013 Birmingham, AL (h) 500 831 — 1,331 136 12/27/2013 2013 Brooksville, FL (h) 206 791 — 997 129 12/18/2013 2013 Cathedral City, CA (h) 658 1,908 — 2,566 265 9/19/2014 2014 Cheyenne, WY (h) 148 986 — 1,134 150 4/23/2014 2014 Coachella, CA (h) 450 1,634 — 2,084 251 2/19/2014 2013 Empire, CA (h) 239 1,527 — 1,766 221 6/27/2014 2014 Ft. Lauderdale, FL (h) 443 1,361 — 1,804 210 12/18/2013 2013 Fresno, CA (h) 488 1,553 — 2,041 241 2/19/2014 2013 Holtville, CA (h) 317 1,609 — 1,926 247 2/19/2014 2013 Indio, CA (h) 393 1,636 — 2,029 236 6/25/2014 2014 Irvington, AL (h) 217 814 — 1,031 135 12/27/2013 2013 Jay, FL (h) 190 1,002 — 1,192 167 2/25/2014 2013 Jonesboro, GA (h) 297 1,098 — 1,395 173 2/14/2014 2013 Initial Costs to Company Gross Amount at Buildings, Total Which Carried Accumulated Fixtures and Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Family Dollar (continued): Kissimmee, FL (h) $ 622 $ 1,226 $ — $ 1,848 $ 178 8/27/2014 2014 LaBelle, FL (h) 268 1,037 — 1,305 170 2/28/2014 2014 Lake Elsinor, CA (h) 417 1,682 — 2,099 254 3/3/2014 2013 Lakeland, FL (h) 353 937 — 1,290 141 6/30/2014 2014 Little Rock, CA (h) 499 1,730 — 2,229 221 2/19/2015 2014 Melbourne, FL (h) 362 883 — 1,245 139 2/28/2014 2014 Oshkosh, WI (h) 361 815 — 1,176 129 2/25/2014 2013 Palmdale, CA (h) 372 1,822 — 2,194 227 3/30/2015 2014 Pensacola, FL (h) 509 791 — 1,300 125 3/27/2014 2014 Pine Lake, GA (h) 639 897 — 1,536 132 8/26/2014 2014 Riverside, CA (h) 736 1,558 — 2,294 233 4/4/2014 2014 San Jacinto, CA (h) 430 1,682 — 2,112 239 7/18/2014 2014 Statesboro, GA (h) 347 800 — 1,147 129 2/14/2014 2013 Stockton, CA (h) 202 1,817 — 2,019 250 9/19/2014 2014 Taft, CA (h) 255 1,422 — 1,677 238 8/23/2013 2013 Tampa, FL (h) 563 737 — 1,300 121 12/18/2013 2013 Tampa, FL (h) 482 920 — 1,402 149 12/18/2013 2013 Terra Bella, CA (h) 332 1,394 — 1,726 215 2/19/2014 2013 Tuscaloosa, AL (h) 534 817 — 1,351 135 12/27/2013 2013 Flower Foods: Orlando, FL (h) 418 387 — 805 54 9/11/2014 2013 Waldorf, MD (h) 398 1,045 — 1,443 163 9/11/2014 2013 Food 4 Less: Atwater, CA (h) 1,383 5,271 — 6,654 919 11/27/2013 2002 Fountain Square: Brookfield, WI (h) 6,508 28,634 25 35,167 2,760 1/17/2017 2006 Fourth Creek Landing: Statesville, NC (h) 1,375 7,795 — 9,170 1,809 3/26/2013 2012 Fresenius Medical Care: West Plains, MI (h) 557 3,097 — 3,654 439 7/2/2014 2014 Fresh Market Center: Glen Ellyn, IL $ 4,750 2,767 6,403 (3,493 ) 5,677 26 9/30/2014 2014 Fresh Thyme: Indianapolis, IN (h) 1,087 6,019 — 7,106 914 10/31/2014 2014 Northville, MI (h) 1,598 7,796 — 9,394 877 12/21/2015 2015 Fresh Thyme & DSW: Fort Wayne, IN (h) 1,740 4,153 612 6,505 693 9/30/2014 1985 Giant Eagle: Seven Fields, PA 7,530 1,574 13,659 — 15,233 1,991 5/7/2014 2005 Harbor Town Center: Manitowoc, WI 9,750 3,568 13,209 (1,799 ) 14,978 436 4/24/2015 2005 Haverty Furniture: Midland, TX (h) 709 1,294 — 2,003 332 8/7/2013 2012 HEB Center: Waxahachie, TX 7,000 3,465 7,952 273 11,690 1,609 6/27/2012 1997 Initial Costs to Company Gross Amount at Buildings, Total Which Carried Accumulated Fixtures and Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Hickory Flat Commons: Canton, GA $ 9,850 $ 4,482 $ 13,174 $ 164 $ 17,820 $ 2,574 12/18/2012 2008 Hobby Lobby: Lewisville, TX (h) 2,184 8,977 — 11,161 1,511 11/26/2013 2013 Home Depot: Lincoln, NE (h) 6,339 5,937 — 12,276 673 10/22/2015 1993 North Canton, OH 7,234 2,203 12,012 360 14,575 2,288 12/20/2012 1998 Plainwell, MI (h) 521 11,905 (12,426 ) (i) — — 5/16/2013 2002 Inglewood Plaza: Inglewood, CA 12,700 9,880 14,099 (23,979 ) (i) — — 9/12/2014 2008 Jewel-Osco Plainfield, IL (h) — — 11,151 11,151 306 11/14/2018 2001 Kirklands: Dothan, AL (h) 486 946 — 1,432 178 8/5/2014 2014 Kohl’s: Chartlottesville, VA 8,745 3,929 12,280 — 16,209 1,739 7/28/2014 2011 Easton, MD (h) 2,962 2,661 — 5,623 269 12/2/2015 1992 Kroger: Shelton, WA (h) 1,180 11,040 — 12,220 1,830 4/30/2014 1994 Whitehall, OH 4,066 581 6,628 224 7,433 1,167 12/16/2013 1994 Kum & Go: Conway, AR (h) 510 2,577 — 3,087 363 6/13/2014 2014 LA Fitness: Bloomfield Township, MI (h) 2,287 10,075 — 12,362 1,857 6/21/2013 2008 Columbus, OH (h) 1,013 6,734 — 7,747 873 4/29/2015 2014 Garland, TX (h) 2,005 6,861 — 8,866 1,086 12/20/2013 2013 Houston, TX (h) 5,764 5,994 — 11,758 1,002 9/30/2013 2013 New Lenox, IL (h) 1,965 6,257 — 8,222 660 12/21/2015 2015 Riverside, CA (h) 2,557 9,951 — 12,508 1,708 8/2/2013 2010 Lafayette Pavilions: Lafayette, IN (h) 7,632 42,497 (50,129 ) (i) — — 2/6/2015 2006 Logan’s Roadhouse: Lancaster, TX (h) 1,203 1,620 — 2,823 317 10/23/2012 2011 Sanford, FL (h) 1,031 1,807 — 2,838 355 10/23/2012 1999 Troy, OH (h) 992 1,577 (1,383 ) 1,186 67 10/23/2012 2011 Lord Salisbury Center: Salisbury, MD (h) 6,949 12,179 (19,128 ) (i) — — 3/11/2016 2005 Lowe’s: Adrian, MI (h) 2,604 5,036 30 7,670 1,098 9/27/2013 1996 Alpharetta, GA 12,300 7,979 9,630 403 18,012 1,305 5/29/2015 1998 Asheboro, NC (h) 1,098 6,722 — 7,820 1,005 6/23/2014 1994 Cincinnati, OH (h) 14,092 — — 14,092 — 2/10/2014 2001 Columbia, SC 5,964 3,943 6,353 750 11,046 1,263 9/12/2013 1994 Covington, LA 5,648 10,233 — — 10,233 — 8/20/2014 2002 Lilburn, GA 12,500 8,817 9,380 385 18,582 1,264 5/29/2015 1999 Mansfield, OH (h) 873 8,256 26 9,155 1,262 6/12/2014 1992 Initial Costs to Company Gross Amount at Buildings, Total Which Carried At Accumulated Fixtures and Adjustment December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Lowe’s (continued): Marietta, GA 11,000 $ 7,471 $ 8,404 $ 392 $ 16,267 $ 1,150 5/29/2015 1997 Oxford, AL (h) 1,668 7,622 369 9,659 1,564 6/28/2013 1999 Tuscaloosa, AL (h) 4,908 4,786 9 9,703 849 10/29/2013 1993 Woodstock, GA 11,200 7,316 8,879 392 16,587 1,213 5/29/2015 1997 Zanesville, OH (h) 2,161 8,375 297 10,833 1,392 12/11/2013 1995 Market Heights Shopping Center: Harker Heights, TX 47,000 12,888 64,105 (76,993 ) (i) — — 11/25/2013 2012 Marketplace at the Lakes: West Covina, CA — 10,020 8,664 (18,684 ) (i) — — 9/30/2013 1994 Mattress Firm: Ashtabula, OH (h) 301 1,965 — 2,266 215 3/23/2016 2015 Mattress Firm & Aspen Dental: Vienna, WV $ — 774 2,466 — 3,240 439 9/15/2014 2014 Mattress Firm & Five Guys: Muskegon, MI (h) 813 1,766 (284 ) 2,295 — 8/29/2014 2014 McAlister’s Deli: Lawton, OK (h) 805 1,057 — 1,862 165 5/1/2014 2013 McGowin Park: Mobile, AL 42,765 2,243 69,357 — 71,600 5,984 4/26/2017 2016 Melody Mountain: Ashland, KY 7,376 1,286 9,879 (1,875 ) 9,290 — 9/1/2015 2013 Merchants Tire & Auto: Wake Forest, NC (h) 782 1,730 — 2,512 195 9/1/2015 2005 Mister Car Wash: Athens, AL (h) 383 1,150 — 1,533 76 9/12/2017 2008 Decatur, AL (h) 257 559 — 816 40 9/12/2017 2005 Decatur, AL (h) 486 1,253 — 1,739 95 9/12/2017 2014 Decatur, AL (h) 359 1,152 — 1,511 86 9/12/2017 2007 Hartselle, AL (h) 360 569 — 929 42 9/12/2017 2007 Madison, AL (h) 562 1,139 — 1,701 88 9/12/2017 2012 Morganton Heights: Morganton, NC 22,800 7,032 29,763 30 36,825 5,295 4/29/2015 2013 National Tire & Battery: Cedar Hill, TX (h) 469 1,951 — 2,420 352 12/18/2012 2006 Cypress, TX (h) 910 2,224 — 3,134 269 9/1/2015 2005 Flower Mound, TX (h) 779 2,449 — 3,228 285 9/1/2015 2005 Fort Worth, TX (h) 936 1,234 — 2,170 209 8/23/2013 2005 Fort Worth, TX (h) 730 2,309 — 3,039 268 9/1/2015 2005 Frisco, TX (h) 844 1,608 — 2,452 271 8/23/2013 2007 Montgomery, IL (h) 516 2,494 — 3,010 452 1/15/2013 2007 North Richland Hills, TX (h) 513 2,579 — 3,092 308 9/1/2015 2005 Pasadena, TX (h) 908 2,307 — 3,215 279 9/1/2015 2005 Pearland, TX (h) 1,016 2,040 — 3,056 242 9/1/2015 2005 Plano, TX (h) 1,292 2,197 — 3,489 260 9/1/2015 2005 Initial Costs to Company Gross Amount at Buildings, Total Which Carried At Accumulated Fixtures and Adjustment December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed National Tire & Battery (continued): Tomball, TX (h) $ 838 $ 2,229 $ — $ 3,067 $ 262 9/1/2015 2005 Natural Grocers: Idaho Falls, ID (h) 833 2,316 — 3,149 361 2/14/2014 2013 Nordstrom Rack: Tampa, FL $ 6,880 3,371 6,402 242 10,015 1,543 4/16/2012 2010 North Logan Commons: Loganville, GA — 4,535 11,826 28 16,389 1,577 9/22/2016 2009 O’Reilly Auto Parts: Clayton, GA (h) 501 945 — 1,446 97 1/29/2016 2015 Owensboro Towne Center: Owensboro, KY 14,027 3,807 16,259 788 20,854 1,968 1/12/2016 1996 Park Place: Enterprise, AL (h) 931 8,595 (9,526 ) (i) — — 8/30/2013 2012 Parkway Centre South: Grove City, OH 14,250 7,027 18,223 (2,843 ) 22,407 579 7/15/2016 2005 Pecanland Plaza: Monroe, LA (h) 2,206 18,957 (21,163 ) (i) — — 10/13/2015 2008 PetSmart: Wilkesboro, NC (h) 447 1,710 — 2,157 356 4/13/2012 2011 PetSmart/Old Navy: Reynoldsburg, OH 3,658 1,295 4,077 — 5,372 859 12/14/2012 2012 Pick ’n Save: Pewaukee, WI (h) 1,323 6,761 257 8,341 1,101 8/13/2014 1999 Sheboygan, WI (h) 2,003 10,695 — 12,698 2,059 9/6/2012 2012 South Milwaukee, WI (h) 1,126 5,706 — 6,832 908 11/6/2013 2005 Plainfield Plaza: Plainfield, IL (h) 3,167 14,788 (2,385 ) 15,570 359 12/3/2015 2002 Plaza San Mateo: Albuquerque, NM $ — 2,867 11,582 (4,018 ) 10,431 54 5/2/2014 2014 Popeyes: Independence, MO (h) 333 680 — 1,013 98 6/27/2014 2005 Poplar Springs Plaza: Duncan, SC 5,000 1,862 5,277 478 7,617 1,097 5/24/2013 1995 Raising Cane’s: Phoenix, AZ (h) 761 1,972 (2,733 ) (i) — — 3/28/2014 2011 Rolling Acres Plaza: Lady Lake, FL 21,930 7,540 26,839 (4,093 ) 30,286 644 9/1/2016 2005 Ross: Fort Worth, TX — — — — — — 10/4/2012 1977 Rushmore Crossing: Rapid City, SD 22,568 7,066 33,019 (40,085 ) (i) — — 1/2/2014 2012 Rapid City, SD (h) 883 4,128 (5,011 ) (i) — — 1/2/2014 2012 Sherwin-Williams: Macon, GA (h) 59 659 — 718 81 4/16/2015 2015 Initial Costs to Company Gross Amount at Buildings, Total Which Carried At Accumulated Fixtures and Adjustment December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Shippensburg Market Place: Shippensburg, PA (h) $ 1,917 $ 9,263 $ (3,530 ) $ 7,650 $ — 9/18/2014 2002 Shoppes at Stroud: Stroud Township, PA (h) 3,754 22,614 (2,220 ) 24,148 576 10/29/2014 2007 Southwest Plaza: Springfield, IL (h) 2,992 48,935 (23,580 ) 28,347 564 9/18/2014 2003 Spinx: Simpsonville, SC (h) 591 969 — 1,560 170 1/24/2013 2012 Springfield Commons: Springfield, OH $ 11,250 3,745 15,049 187 18,981 2,088 5/5/2015 1995 Sprouts: Bixby, OK (h) 1,320 7,117 — 8,437 1,184 7/26/2013 2013 Stoneridge Village: Jefferson City, MO 6,500 1,830 9,351 — 11,181 1,606 6/30/2014 2012 Summerfield Crossing: Riverview, FL 7,310 6,130 6,753 (1,159 ) 11,724 175 7/12/2013 2013 Sunbelt Rentals: Canton, OH (h) 147 1,679 — 1,826 357 10/24/2013 2013 Sunoco: Palm Beach Gardens, FL (h) 1,050 2,667 — 3,717 448 4/12/2013 2009 Palm City, FL (h) 667 1,698 — 2,365 286 4/12/2013 2011 Palm Springs, FL (h) 580 1,907 — 2,487 321 4/12/2013 2011 Sebastian, FL (h) 490 2,128 — 2,618 358 4/12/2013 2009 Titusville, FL (h) 626 2,534 — 3,160 426 4/12/2013 2009 Sutters Creek: Rocky Mount, NC (h) 1,458 2,616 283 4,357 517 1/31/2014 2012 Target Center: Columbia, SC 5,450 3,234 7,297 (710 ) 9,821 187 3/31/2014 2012 Terrell Mill Village: Marietta, GA 7,500 3,079 11,185 (14,264 ) (i) — — 1/31/2014 2012 TGI Friday’s: Chesapeake, VA (h) 1,217 1,388 — 2,605 205 6/27/2014 2003 Wilmington, DE (h) 1,685 969 — 2,654 146 6/27/2014 1991 The Center at Hobbs Brook: Sturbridge, MA 21,500 11,241 29,152 928 41,321 3,643 6/29/2016 1999 The Market at Clifty Crossing: Columbus, IN (h) 2,669 16,308 113 19,090 4,049 10/31/2014 1989 The Market at Polaris: Columbus, OH (h) 11,828 41,702 (32,758 ) 20,772 460 12/6/2013 2005 The Marquis: Williamsburg, VA 8,556 2,615 11,406 — 14,021 2,294 9/21/2012 2007 The Plant: San Jose, CA 123,000 67,596 108,203 450 176,249 21,309 4/15/2013 2008 The Ridge at Turtle Creek: Hattiesburg, MS 9,900 2,749 12,434 (3,482 ) 11,701 — 2/27/2015 2011 Initial Costs to Company Gross Amount at Buildings, Total Which Carried At Accumulated Fixtures and Adjustment December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Tire Kingdom (continued): Bluffton, SC (h) $ 645 $ 1,688 $ — $ 2,333 $ 191 9/1/2015 2005 Summerville, SC (h) 1,208 1,233 — 2,441 144 9/1/2015 2005 Tarpon Springs, FL (h) 427 1,458 (1,885 ) (i) — — 11/30/2012 2003 Tire Kingdom & Starbucks: Mount Pleasant, SC $ 2,400 1,291 3,149 (502 ) 3,938 76 9/1/2015 2005 Tractor Supply: Ashland, VA (h) 500 2,696 — 3,196 438 11/22/2013 2013 Augusta, KS (h) 407 2,315 — 2,722 368 1/10/2014 2013 Cambridge, MN (h) 807 1,272 28 2,107 298 5/14/2012 2012 Canon City, CO (h) 597 2,527 — 3,124 450 11/30/2012 2012 Fortuna, CA (h) 568 3,819 — 4,387 572 6/27/2014 2014 Lumberton, NC (h) 611 2,007 — 2,618 380 5/24/2013 2013 Marion, IN (h) 1,536 1,099 — 2,635 189 2/19/2014 2004 Monticello, FL (h) 448 1,916 — 2,364 360 6/20/2013 2013 South Hill, VA (h) 630 2,179 — 2,809 386 6/24/2013 2011 Weaverville, NC (h) 867 3,138 — 4,005 538 9/13/2013 2006 Woodward, OK (h) 446 1,973 — 2,419 346 11/19/2013 2013 Trader Joe’s: Asheville, NC (h) 2,770 3,766 — 6,536 641 10/22/2013 2013 Columbia, SC (h) 2,308 2,597 — 4,905 518 3/28/2013 2012 Wilmington, NC (h) 2,016 2,519 — 4,535 546 6/27/2013 2012 Turfway Crossing: Florence, KY 8,480 2,261 10,323 418 13,002 1,850 5/27/2014 2002 Ulta Salon: Albany, GA (h) 441 1,757 — 2,198 266 5/8/2014 2013 Greeley, CO (h) 596 2,035 — 2,631 260 3/31/2015 2014 United Oil: Bellflower, CA (h) 1,246 788 — 2,034 105 9/30/2014 2001 Brea, CA (h) 2,393 658 — 3,051 87 9/30/2014 1984 El Cajon, CA (h) 1,533 568 — 2,101 76 9/30/2014 2008 El Cajon, CA (h) 1,225 368 — 1,593 49 9/30/2014 2000 El Monte, CA (h) 766 510 — 1,276 68 9/30/2014 1994 Escondido, CA (h) 3,514 1,062 — 4,576 141 9/30/2014 2002 Glendale, CA (h) 4,871 795 — 5,666 106 9/30/2014 1999 Inglewood, CA (h) 1,809 878 — 2,687 117 9/30/2014 1997 La Habra, CA (h) 1,971 571 — 2,542 76 9/30/2014 2000 Lawndale, CA (h) 1,462 862 — 2,324 115 9/30/2014 2001 Long Beach, CA (h) 2,778 883 — 3,661 117 9/30/2014 1972 Los Angeles, CA (h) 2,334 717 — 3,051 95 9/30/2014 2002 Los Angeles, CA (h) 3,552 1,242 — 4,794 165 9/30/2014 2002 Los Angeles, CA (h) 2,745 669 — 3,414 89 9/30/2014 1998 Los Angeles, CA (h) 3,930 428 — 4,358 57 9/30/2014 2005 Los Angeles, CA (h) 1,927 1,484 — 3,411 197 9/30/2014 2007 Los Angeles, CA (h) 2,182 701 — 2,883 93 9/30/2014 1964 Madera, CA — 1,500 3,804 — 5,304 83 9/27/2019 2018 Initial Costs to Company Gross Amount at Buildings, Total Which Carried At Accumulated Fixtures and Adjustment December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed United Oil (continued): Norco, CA (h) $ 1,852 $ 1,489 $ — $ 3,341 $ 198 9/30/2014 1995 Poway, CA (h) 3,072 705 — 3,777 94 9/30/2014 1960 San Diego, CA (h) 2,977 1,448 — 4,425 192 9/30/2014 1984 San Diego, CA (h) 1,877 883 — 2,760 117 9/30/2014 2006 San Diego, CA (h) 1,824 382 — 2,206 51 9/30/2014 2006 Santa Clarita, CA (h) 4,787 733 — 5,520 97 9/30/2014 2001 Sun City, CA (h) 1,136 1,421 — 2,557 189 9/30/2014 1984 Vista, CA (h) 2,063 334 — 2,397 44 9/30/2014 1986 Vista, CA (h) 2,028 418 — 2,446 56 9/30/2014 2010 Whittier, CA (h) 1,629 985 — 2,614 131 9/30/2014 1997 University Marketplace: Marion, IN $ — 850 6,722 (1,993 ) (i) 5,579 1,099 3/22/2013 2012 Urban Air Adventure Park: Waukesha, WI (h) 3,408 12,918 — 16,326 1,728 9/29/2014 2007 Vacant: Appleton, WI (h) 895 1,026 — 1,921 128 11/18/2015 2015 Ballard, UT (h) 334 2,865 (1,392 ) 1,807 10 3/4/2016 2015 Broken Bow, NE (h) 244 1,733 — 1,977 282 6/19/2014 2007 Cherokee, IA (h) 217 3,326 (1,911 ) 1,632 9 12/23/2015 2015 Cokato, MN (h) 358 3,229 (1,768 ) 1,819 — 12/23/2015 2015 Danville, VA (h) 274 1,514 (1,062 ) 726 18 4/29/2014 2014 Georgetown, KY — 1,048 1,452 (2,500 ) (i) — — 6/11/2014 2004 Greenville, SC (h) 672 1,737 (1,406 ) 1,003 39 6/27/2014 2004 Nampa, ID (h) 449 2,213 (1,482 ) 1,180 6 3/31/2014 1972 St. Louis, MO — 1,254 3,354 (4,608 ) (i) — — 3/28/2014 1988 Valentine, NE (h) 395 3,549 (2,403 ) 1,541 10 6/30/2014 2014 Ventura Place: Albuquerque, NM (h) 5,203 7,998 (5,065 ) 8,136 34 4/29/2015 2008 Village at Hereford Farms: Grovetown, GA — 1,222 5,912 (7,134 ) (i) — — 9/26/2014 2009 Wal-Mart: Anderson, SC (h) 2,424 9,719 — 12,143 1,007 11/5/2015 2015 Florence, SC (h) 2,013 9,225 — 11,238 951 11/5/2015 2015 Perry, GA 7,095 2,270 11,053 — 13,323 2,051 6/4/2013 1999 Summerville, SC 4,300 2,410 2,098 — 4,508 252 9/18/2015 2015 Tallahassee, FL 8,157 14,823 — — 14,823 — 12/11/2012 2008 York, SC (h) 1,913 11,410 — 13,323 2,103 6/4/2013 1998 Walgreens: Austintown, OH (h) 637 4,173 — 4,810 673 8/19/2013 2002 Chicopee, MA 3,894 2,094 4,945 — 7,039 648 10/23/2014 2008 Connelly Springs, NC (h) 1,349 3,628 — 4,977 600 8/27/2013 2012 Danville, VA (h) 989 4,547 — 5,536 857 12/24/2012 2012 Dearborn Heights, MI (h) 2,236 3,411 — 5,647 569 7/9/2013 2008 East Chicago, IN (h) 331 5,242 — 5,573 707 8/8/2014 2005 Fort Madison, IA (h) 514 3,723 — 4,237 604 9/20/2013 2008 Initial Costs to Company Gross Amount at Buildings, Total Which Carried At Accumulated Fixtures and Adjustment December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Walgreens (continued): Hickory, NC (h) $ 1,100 $ 4,241 $ — $ 5,341 $ 757 2/28/2013 2009 Huntsville, AL $ 3,273 1,931 2,457 97 4,485 463 3/15/2013 2001 Kannapolis, NC 3,966 1,480 5,031 — 6,511 847 6/12/2013 2012 Las Vegas, NV (h) 2,325 3,262 70 5,657 539 9/26/2013 1999 Lawton, OK (h) 860 2,539 106 3,505 426 7/3/2013 1998 Little Rock, AR (h) 548 4,676 — 5,224 650 6/30/2014 2011 Lubbock, TX (h) 565 3,257 103 3,925 603 10/11/2012 2000 Lubbock, TX (h) 531 2,951 102 3,584 542 10/11/2012 1998 Metropolis, IL (h) 284 4,991 — 5,275 673 8/8/2014 2009 Mobile, AL (h) 1,603 3,161 — 4,764 508 11/7/2013 2013 Pine Bluff, AR (h) 248 5,229 — 5,477 848 9/17/2013 2012 Sacramento, CA (h) 324 2,669 — 2,993 388 6/30/2014 2008 Springfield, IL (h) 830 3,619 — 4,449 710 5/14/2012 2007 Suffolk, VA (h) 1,261 3,461 — 4,722 713 5/14/2012 2007 Sun City, AZ (h) 837 2,484 245 3,566 379 5/6/2014 2000 Tarboro, NC (h) 755 3,634 — 4,389 501 8/22/2014 2014 Walgreens/KeyBank: Newburgh, NY 5,000 3,280 5,441 — 8,721 856 9/16/2013 2010 Wallace Commons: Salisbury, NC 7,590 3,265 8,058 — 11,323 1,473 12/21/2012 2009 Wallace Commons II: Salisbury, NC (h) 2,231 8,479 — 10,710 1,400 2/28/2014 2013 Warrenton Highlands: Warrenton, OR (h) 2,139 5,774 (7,913 ) (i) — — 5/29/2013 2011 Waterford South Park: Clarksville, IN 7,200 2,946 8,564 45 11,555 1,828 4/12/2013 2006 Wendy's: Grafton, VA (h) 539 894 — 1,433 130 6/27/2014 1985 Westminster, CO (h) 596 1,108 — 1,704 160 6/27/2014 1986 West Marine: Panama City, FL (h) 676 2,219 — 2,895 329 4/24/2015 2014 Pensacola, FL (h) 1,107 3,398 — 4,505 494 2/27/2015 2015 Westover Market: San Antonio, TX 6,200 2,705 7,959 (6,264 ) 4,400 50 7/10/2013 2013 Winn-Dixie: Walker, LA (h) 900 3,909 — 4,809 557 6/27/2014 1999 $ 726,262 $ 796,835 $ 2,172,782 $ (439,306 ) $ 2,530,311 $ 243,122 ____________________________________ (a) As of December 31, 2019 , the Company owned 334 retail properties, 59 anchored shopping centers and three industrial and distribution properties. (b) Consists of capital expenditures and real estate development costs, and impairment charges. (c) The aggregate cost for federal income tax purposes was $3.1 billion . (d) The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): 2019 2018 2017 Balance, beginning of period $ 4,444,041 $ 4,564,592 $ 4,370,629 Additions Acquisitions 5,305 11,151 261,660 Joint Venture Purchased — — — Improvements 13,832 6,135 13,708 Adjustment to basis — — — Total additions $ 19,137 $ 17,286 $ 275,368 Less: Deductions Cost of real estate sold 1,448,915 61,891 78,700 Adjustment to basis — — — Other (including provisions for impairment of real estate assets) 483,952 75,946 2,705 Total deductions 1,932,867 137,837 81,405 Balance, end of period $ 2,530,311 $ 4,444,041 $ 4,564,592 (e) Gross intangible lease assets of $313.1 million and the associated accumulated amortization of $131.0 million are not reflected in the table above. (f) The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): 2019 2018 2017 Balance, beginning of period $ 385,245 $ 334,476 $ 245,425 Additions Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired 73,790 92,998 93,170 Improvements - Depreciation expense for tenant improvements and building equipment 2,352 2,481 1,679 Total additions $ 76,142 $ 95,479 $ 94,849 Deductions Cost of real estate sold 144,820 6,901 5,552 Other (including provisions for impairment of real estate assets) 73,445 37,809 246 Total deductions 218,265 44,710 5,798 Balance, end of period $ 243,122 $ 385,245 $ 334,476 (g) The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, buildings are depreciated over 40 years , site improvements are amortized over 15 years and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter. (h) Property is included in the Credit Facility’s borrowing base. As of December 31, 2019 , the Company had $885.0 million outstanding under the Credit Facility. (i) Asset held for sale or partially held for sale as of December 31, 2019.

Schedule IV - Mortgage Loans He

Schedule IV - Mortgage Loans Held On Real Estate Schedule IV - Mortgage Loans Held On Real Estate	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loans on Real Estate	Principal Amount of Loans Subject Final Periodic Face Carrying to Delinquent Interest Maturity Payment Prior Amount of Amount of Principal or Description Rate (a) Date Terms (b) Liens Mortgages Mortgages "Interest" Mezzanine Loans: Astor — New York, New York L + 13.85% 5/9/2021 P/I N/A $ 36,334 $ 37,153 $ — 88 Lex — New York, New York L + 13.85% 5/9/2021 P/I N/A 23,401 24,033 — 90 Lex — New York, New York L + 13.85% 5/9/2021 P/I N/A 14,475 14,854 — Metro — New York, New York L + 13.85% 5/9/2021 P/I N/A 9,505 9,934 — Astor — New York, New York L + 7.00% 5/9/2021 P/I N/A 23,288 23,566 — 88 Lex — New York, New York L + 7.00% 5/9/2021 P/I N/A 17,575 17,780 — 90 Lex — New York, New York L + 7.00% 5/9/2021 P/I N/A 10,571 10,695 — Metro — New York, New York L + 7.00% 5/9/2021 P/I N/A 7,954 8,046 — Senior Loans: Lucero — Austin, Texas L + 3.50% 10/9/2023 P/I N/A 40,079 39,759 — Satellite Place — Duluth, Georgia L + 3.15% 2/1/2025 P/I N/A 44,675 44,080 — Yoo on the Park — Atlanta, Georgia L + 2.75% 1/9/2024 P/I N/A 69,500 68,980 — $ 297,357 $ 298,880 $ — ____________________________________ (a) L = one month LIBOR rate. (b) P/I = principal and interest. The following table reconciles mortgage loans on real estate for the years ended December 31 (in thousands): Year Ended December 31, 2019 2018 Balance, beginning of period $ 89,762 $ — Additions during period: New loans 217,014 89,295 Capitalized interest 8,546 384 Accretion of fees and other items 2,441 268 Total additions $ 228,001 $ 89,947 Less: Deductions during period: Collections of principal (17,186 ) — Deferred fees and other items (1,697 ) (185 ) Total deductions (18,883 ) (185 ) Balance, end of period $ 298,880 $ 89,762

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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 accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following characteristics: (a) the power to direct the activities that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of the entity, or (c) the right to receive the expected returns of the entity. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations. For legal entities being evaluated for consolidation, the Company must first determine whether the interests that it holds and fees it receives qualify as variable interests in the entity. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. The Company’s evaluation includes consideration of fees paid to the Company where the Company acts as a decision maker or service provider to the entity being evaluated. If the Company determines that it holds a variable interest in an entity, it evaluates whether that entity is a VIE. A VIE must be consolidated by its primary beneficiary, which is generally defined as the party who has a controlling financial interest in the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. The Company consolidates any VIEs when the Company is determined to be the primary beneficiary of the VIE and the difference between consolidating the VIE and accounting for it using the equity method could be material to the Company’s consolidated financial statements. The Company continually evaluates the need to consolidate any VIEs based on standards set forth in GAAP as described above.
Reclassifications	Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Real Estate Assets, Recoverability of Real Estate Assets, Assets Held for Sale, and Dispositions of Real Estate Assets	Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to: bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors; a significant decrease in a property’s revenues due to lease terminations; vacancies; co-tenancy clauses; reduced lease rates; changes in anticipated holding periods; or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions. During the year ended December 31, 2019 , as part of the Company’s quarterly impairment review procedures, the Company recorded impairment charges of $72.9 million related to 27 properties with revised expected holding periods and seven properties with vacancies. The Company’s impairment assessment as of December 31, 2019 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding periods for assets change, subsequent tests for impairment could result in additional impairment charges in the future. The Company cannot provide any assurance that material impairment charges with respect to the Company’s real estate assets will not occur during 2020 or future periods. During the year ended December 31, 2018 , the Company recorded impairment charges of $33.0 million related to 20 properties with revised expected holding periods and two properties with vacancies. During the year ended December 31, 2017 , the Company recorded impairment charges of $2.9 million related to four properties as a result of delinquent rental payments and two tenants who had previously filed for bankruptcy. The assumptions and uncertainties utilized in the evaluation of the impairment of real estate assets are discussed in detail in Note 3 — Fair Value Measurements . See also Note 4 — Real Estate Assets for further discussion regarding real estate investment activity. Within the next 24 months, the Company expects to sell a substantial portion of its anchored shopping center portfolio and certain single tenant properties. These will be sold in pools or on a standalone basis. As of December 31, 2019 , the Company intended to sell properties with a net book value of at least $1.7 billion , subject to market conditions. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount is then recorded to reflect the estimated fair value of the property, net of selling costs. As of December 31, 2019 , the Company identified 29 properties with a carrying value of $351.9 million as held for sale, 12 of which were sold subsequent to December 31, 2019 . The Company has mortgage notes payable of $126.7 million that are related to the held for sale properties, which the Company expects to repay in connection with the disposition of the underlying held for sale properties. As of December 31, 2018 , the Company identified one property with a carrying value of $6.8 million as held for sale, which was sold subsequent to December 31, 2018 . Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The disposition of 497 and 21 of the Company’s individual properties during the years ended December 31, 2019 and 2018 , respectively, did not qualify for discontinued operations presentation and thus, the results of the properties that were sold will remain in operating income, and any associated gains or losses from the disposition are included in gain on disposition of real estate, net.
Allocation of Purchase Price of Real Estate Assets	Allocation of Purchase Price of Real Estate Assets Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases and other intangibles, based in each case on their relative fair values. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above- and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, the remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above- or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include leasing commissions, legal and other related expenses and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company has acquired, and may continue to acquire, certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrowed funds to the Company or the seller or a combination thereof. Prior to the adoption of ASU 2017-01 (as defined below) in April 2017, contingent consideration arrangements, including amounts funded through an escrow account, were recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value subsequent to acquisition were reflected in the accompanying consolidated statements of operations in acquisition-related fees and expenses. Upon adoption of ASU 2017-01 in April 2017, contingent consideration arrangements for asset acquisitions are recognized when the contingency is resolved. 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. In April 2017, the Company elected to early adopt Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Beginning in April 2017, all real estate acquisitions qualified as asset acquisitions, and as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are now capitalized and allocated to tangible and intangible assets and liabilities as described above. Other acquisition-related expenses, such as advisor reimbursements, continue to be expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Prior to the adoption of ASU 2017-01 in April 2017, all of the Company’s real estate acquisitions were accounted for as business combinations and, as such, acquisition-related expenses related to these business combination acquisitions were expensed as incurred. Prior to April 2017, acquisition-related expenses included within transaction-related expenses in the Company’s consolidated statements of operations primarily consisted of legal, deed transfer and other costs related to real estate purchase transactions, including costs incurred for deals that were not consummated. The Company expects its future acquisitions to qualify as asset acquisitions and, as such, the Company will allocate the purchase price to acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis.
Redeemable Noncontrolling Interest in Consolidated Joint Venture	Redeemable Noncontrolling 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 (the “Option”), which became effective on June 27, 2016, whereby the Company will be required to purchase the ownership interest of the joint venture partner at fair market value. From June 2014 to December 2019, the Company determined it had a controlling interest in the Consolidated Joint Venture and, therefore, met the GAAP requirements for consolidation. The Company recorded net income of $121,000 and paid distributions of $285,000 related to the noncontrolling interest during the year ended December 31, 2019 . During the year ended December 31, 2019 , the Company disposed of its interest in the underlying properties previously owned through the Consolidated Joint Venture, as further discussed in Note 4 — Real Estate Assets . Therefore, the Company determined it no longer had a controlling financial interest as of December 31, 2019 . The Company recorded the noncontrolling interest of $2.3 million as of December 31, 2018 , as temporary equity in the mezzanine section of the consolidated balance sheets, due to the ability to exercise the Option being outside the control of the Company.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000 . At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held. Included in cash and cash equivalents was $126.8 million reserved for settlement of broadly syndicated loan purchases as of December 31, 2019 , as further discussed in Note 10 — Commitments and Contingencies . The Company had $7.3 million and $9.1 million in restricted cash as of December 31, 2019 and December 31, 2018 , respectively. Included in restricted cash was $3.1 million and $3.4 million held by lenders in lockbox accounts, as of December 31, 2019 and 2018 , 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 $4.2 million and $5.7 million held by lenders in escrow accounts for real estate taxes and other lender reserves for certain properties, in accordance with the associated lender’s loan agreement as of December 31, 2019 and 2018 , respectively.
Loans Held-for-Investment	Loans Held-for-Investment The Company has acquired, and may continue to acquire, loans related to real estate assets. Additionally, we may invest in first and second lien mortgage loans, mezzanine loans, bridge loans, wraparound mortgage loans, construction mortgage loans on real property, loans on leasehold interest mortgages and broadly syndicated loans. The Company intends to hold the loans held-for-investment for the foreseeable future or until maturity. Loans held-for-investment are carried on the Company’s consolidated balance sheets at amortized cost, net of any allowance for loans receivable losses. Discounts or premiums, origination fees and exit fees are amortized as a component of interest income using the effective interest method over the life of the respective loans. Loan acquisition fees paid to CMFT Management or its affiliates are expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Interest earned is either received in cash or capitalized to loans held-for-investment and related receivables, net in the Company’s consolidated balance sheets. Interest is capitalized when certain conditions are met as specified in each loan agreement. For the year ended December 31, 2019 , the Company recorded $20.1 million in interest income, of which $8.5 million was capitalized to loans held-for-investment and related receivables, net. Accrual of interest income is suspended on nonaccrual loans. Loans that are past due 90 days or more as to principal or interest, or where reasonable doubt exists as to timely collection, are generally considered nonperforming and placed on nonaccrual. Interest collected is recognized on a cash basis by crediting income when received. Loans may be restored to accrual status when all principal and interest are current and full repayment of the remaining contractual principal and interest are reasonably assured. As of December 31, 2019 , the Company’s eight mezzanine loans with a net book value of $146.1 million were nonaccrual loans. Generally, an allowance for loan losses is provided when management determines that the Company will be unable to collect any remaining amounts due under the loan agreement. The Company evaluates the collectability of its loans held-for-investment at least quarterly. The evaluation of collectability involves judgment, estimates, and a review of the ability of the borrower to make principal and interest payments and the underlying collateral.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the straight-line method, which approximates the effective interest method. Unamortized deferred financing costs are written off when the associated debt is extinguished or repaid before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facilities, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facilities and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2019 and 2018 , the Company had $2.3 million and $2.1 million , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facilities. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined the financing will not close.
Due to Affiliates	Due to Affiliates CMFT Management, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offerings and the acquisition, management, financing and leasing of the properties of the Company.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the derivative instrument that is designated as a hedge is recorded as other comprehensive income. The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations.
Redeemable Common Stock	Redeemable Common Stock Under the Company’s 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 the maximum amount that is 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.
Leases	Leases The Company adopted ASU No. 2016-02, Leases, (Topic 842) (“ASC 842”), on January 1, 2019 using the optional alternative transition method for financial information and related disclosures. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company has lease agreements with lease and non-lease components. The Company has elected to not separate non-lease components from lease components for all classes of underlying assets (primarily real estate assets) and will account for the combined components as rental and other property income. Non-lease components included in rental and other property income include certain tenant reimbursements for maintenance services (including common-area maintenance services or “CAM”), real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. As a lessor, the Company has further determined that this policy will be effective only on a lease that has been classified as an operating lease and the revenue recognition pattern and timing is the same for both types of components. The Company is not a party to any material leases where it is the lessee. Significant judgments and assumptions are inherent in not only determining if a contract contains a lease, but also the lease classification, terms, payments, and, if needed, discount rates. Judgments include the nature of any options, including if they will be exercised, evaluation of implicit discount rates and the assessment and consideration of “fixed” payments for straight-line rent revenue calculations. The Company has an investment in a real estate property that is subject to a ground lease, for which a lease liability and right of use (“ROU”) asset of $2.6 million was recorded as of December 31, 2019 . See Note 15 — Leases for a further discussion regarding this ground lease. Lease costs represent the initial direct costs incurred in the origination, negotiation and processing of a lease agreement. Such costs include outside broker commissions and other independent third-party costs and are amortized over the life of the lease on a straight-line basis. Costs related to salaries and benefits, supervision, administration, unsuccessful origination efforts and other activities not directly related to completed lease agreements are expensed as incurred. Leasing commissions subsequent to successful lease execution are capitalized.
Revenue Recognition	Revenue Recognition Revenue from leasing activities Rental and other property income is primarily derived from fixed contractual payments from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Upon the determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be less than probable is recorded on a cash basis until collectability becomes probable. Management’s estimate of the collectability of lease-related receivables is based on the best information available to management at the time of evaluation. The Company does not use a general reserve approach and lease-related receivables are adjusted and taken against rental and other property income only when collectability becomes not probable. Revenue from lending activities Interest income from our loans held-for-investment is comprised of interest earned on loans and the accretion and amortization of net loan origination fees and discounts. Interest income on loans is accrued as earned, with the accrual of interest suspended when the related loan becomes a nonaccrual loan. Interest income on the Company’s broadly syndicated loans is accrued as earned beginning on the settlement date.
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) and Distributions Per Share	Earnings (Loss) and Distributions Per Share Earnings (loss) per share are calculated based on the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2019 , 2018 or 2017 . Distributions per share are calculated based on the authorized daily distribution rate.
Distributions Per Share	Distributions per share are calculated based on the authorized daily distribution rate.
Reportable Segment	Reportable Segment The Company’s commercial real estate assets consist of income-producing necessity retail properties that are primarily single-tenant or anchored shopping centers, which are leased to creditworthy tenants under long-term net leases. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by various standard setting bodies that may have an impact on the Company’s accounting and reporting. Except as otherwise stated below, the Company is currently evaluating the effect that certain new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements. In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), which was subsequently amended by ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses (“ASU 2018-19”), in November 2018. Subsequently, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU No. 2019-10 and ASU No. 2019-11 to provide additional guidance on the credit losses standard. ASU 2016-13 and the related updates are intended to improve financial reporting requiring more timely recognition of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology under current GAAP. ASU 2018-19 clarified that receivables arising from operating leases are not within the scope of Topic 326. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. ASU 2016-13 and ASU 2018-19 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company will adopt this ASU during the first quarter of fiscal year 2020 and does not expect it will have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 are effective January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of ASU 2018-13 are to be applied retrospectively, and early adoption is permitted. The Company will adopt this ASU during the first quarter of fiscal year 2020 and does not expect it will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-16, Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (“OIS”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2018-16”). The amendments in this ASU permit the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes or another acceptable benchmark. The SOFR is a volume-weighted median interest rate that is calculated daily based on overnight transactions from the prior day’s activity in specified segments of the U.S. Treasury repo market. It has been selected as the preferred replacement for the U.S. dollar London Interbank Offered Rate (“LIBOR”), which will be phased out by the end of 2021. ASU 2018-16 is effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2018-16 is required to be adopted on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. The Company currently uses LIBOR as its benchmark interest rate in the Company’s interest rate swaps associated with the Company’s LIBOR-based variable rate borrowings. The Company has not entered into any new or redesignated hedging relationships on or after the date of adoption of ASU 2018-16. The Company evaluated the effect of this new benchmark interest rate option, and does not believe this ASU will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities . The guidance changes the guidance for determining whether a decision-making fee is a variable interest. Under the new ASU, indirect interests held through related parties under common control will now be considered on a proportional basis when determining whether fees paid to decision makers and service providers are variable interests. Such indirect interests were previously treated the same as direct interests. This ASU is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years.
Fair Value Measurements	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Credit facilities and notes payable — The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. As of December 31, 2019 , the estimated fair value of the Company’s debt was $1.60 billion , compared to the carrying value of $1.61 billion . The estimated fair value of the Company’s debt as of December 31, 2018 was $2.46 billion , compared to the carrying value of $2.53 billion . Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the respective counterparties. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2019 and 2018 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Revenue bonds — The Company’s revenue bonds were acquired in connection with the purchase of an anchored shopping center. The bonds have a 9.0% interest rate and mature on November 1, 2044. These investments are initially recognized in interest receivable, prepaid expenses and other assets on the consolidated balance sheets and are subsequently measured using amortized cost. The fair value estimates of the Company’s revenue bonds are based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques including discounted cash flow analysis. This analysis reflects the contractual terms of the bonds, including the period to maturity, and uses unobservable market-based inputs, including discount rates ranging from 7.75% to 9.0% . As a result, the Company has determined that its revenue bonds are classified in Level 3 of the fair value hierarchy. As of December 31, 2019 , the estimated fair value of the Company’s revenue bonds was $2.0 million . The Company has these investments classified as held-to-maturity securities. The Company’s investments in revenue bonds are reviewed for impairment, including the evaluation of changes in events or circumstances that may indicate that the carrying amount of the investment may not be recoverable. Loans held-for-investment — The Company’s loans held-for-investment are recorded at cost upon origination and adjusted by net loan origination fees and discounts. The Company estimates the fair value of its loans held-for-investment by performing a present value analysis for the anticipated future cash flows using an appropriate market discount rate taking into consideration the credit risk. As a result, the Company has determined that its loans held-for-investment are classified in Level 3 of the fair value hierarchy. As of December 31, 2019 , the estimated fair value of the Company’s loans held-for-investment was $302.0 million , compared to its carrying value of $301.6 million . As of December 31, 2018, the Company determined that the estimated fair value of its loans held-for-investment was equal to its carrying value given that the loans were originated during the fourth quarter of 2018. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant 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 as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments. Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for, upon disposition of the financial assets and liabilities.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Estimated Useful Lives of Real Estate Assets By Class	The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Site improvements 15 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (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) Financial assets: Interest rate swaps 261 — 261 — Total financial assets $ 261 $ — $ 261 $ — Financial liability: Interest rate swap $ (4,181 ) $ — $ (4,181 ) $ — Total financial liability $ (4,181 ) $ — $ (4,181 ) $ — Balance as of Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Interest rate swaps $ 10,993 $ — $ 10,993 $ — Total financial assets $ 10,993 $ — $ 10,993 $ —
Summary of Impairment Charges by Asset Class	The following table presents the impairment charges by asset class recorded during the years ended December 31, 2019 , 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 Asset class impaired: Land $ 12,648 $ 6,436 $ 725 Buildings, fixtures and improvements 56,572 25,299 1,734 Intangible lease assets 4,056 1,385 396 Intangible lease liabilities (337 ) (145 ) — Total impairment loss $ 72,939 $ 32,975 $ 2,855

Real Estate Assets (Tables)

Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the purchase price allocation for the 2019 Property Acquisition (in thousands): 2019 Property Acquisition Land $ 1,501 Buildings, fixtures and improvements 3,804 Acquired in-place leases and other intangibles (1) 860 Total purchase price $ 6,165 ______________________ (1) The amortization period for acquired in-place leases and other intangibles is 20.1 years. The following table summarizes the purchase price allocation for the 2018 Acquisition (in thousands): 2018 Acquisition Land $ 2,107 Buildings, fixtures and improvements 9,044 Acquired in-place leases and other intangibles (1) 1,392 Intangible lease liabilities (2) (638 ) Total purchase price $ 11,905 ______________________ (1) The amortization period for acquired in-place leases and other intangibles is 19.0 years. (2) The amortization period for acquired intangible lease liabilities is 19.0 years. The following table summarizes the purchase price allocation for the 2017 Asset Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Asset Acquisitions Land $ 32,919 Buildings, fixtures and improvements 177,682 Acquired in-place leases and other intangibles 39,257 Acquired above-market leases 3,624 Revenue bonds 2,081 Intangible lease liabilities (3,564 ) Total purchase price $ 251,999 The following table summarizes the purchase price allocations for the 2017 Business Combination Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Business Combination Acquisitions Land $ 9,873 Buildings, fixtures and improvements 41,186 Acquired in-place leases and other intangibles 5,974 Acquired above-market leases 988 Intangible lease liabilities (2,635 ) Total purchase price $ 55,386
Schedule of Real Estate Properties	The following table summarizes the consideration transferred for the properties purchased during the year ended December 31, 2017 (in thousands): 2017 Acquisitions Real estate assets: Purchase price of asset acquisitions $ 251,999 Purchase price of business combinations 55,386 Total purchase price of real estate assets acquired (1) $ 307,385 ____________________________________ (1) The weighted average amortization period for the 2017 Acquisitions was 16.9 years for acquired in-place leases and other intangibles, 13.6 years for acquired above-market leases and 8.5 years for acquired intangible lease liabilities.
Business Acquisition, Pro Forma Information	The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2017 and 2016 (in thousands): Year Ended December 31, 2017 2016 Pro forma basis (unaudited): Revenue $ 424,416 $ 412,883 Net income $ 80,912 $ 71,301

Intangible Lease Assets and L_2

Intangible Lease Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-lived Intangible Assets and Liabilities	Intangible lease assets and liabilities consisted of the following as of December 31, 2019 and 2018 (in thousands, except weighted average life remaining): As of December 31, 2019 2018 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $111,670 and $184,532, respectively (with a weighted average life remaining of 10.4 years and 10.1 years, respectively) $ 164,724 $ 307,895 Acquired above-market leases, net of accumulated amortization of $19,310 and $27,979, respectively (with a weighted average life remaining of 7.9 years and 8.4 years, respectively) 17,423 34,462 Total intangible lease assets, net $ 182,147 $ 342,357 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $25,800 and $34,732, respectively (with a weighted average life remaining of 7.3 years and 7.2 years, respectively) $ 20,523 $ 36,418
Schedule Of Amortization Expense Related To The Intangible Lease Assets	The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2019 , 2018 , and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 In-place lease and other intangible amortization $ 32,058 $ 45,559 $ 46,602 Above-market lease amortization $ 4,315 $ 6,740 $ 7,304 Below-market lease amortization $ 6,253 $ 8,448 $ 9,503
Schedule of Finite-lived Intangible Assets, Future Amortization Expense	As of December 31, 2019 , the estimated amortization relating to the intangible lease assets and liabilities is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2020 $ 20,943 $ 2,753 $ 4,746 2021 $ 18,544 $ 2,175 $ 2,907 2022 $ 17,458 $ 2,005 $ 2,495 2023 $ 15,593 $ 1,768 $ 2,126 2024 $ 13,901 $ 1,326 $ 1,601 Thereafter $ 78,285 $ 7,396 $ 6,648 Total $ 164,724 $ 17,423 $ 20,523

Loans Held-For-Investment (Tabl

Loans Held-For-Investment (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The Company’s loans held-for-investment consisted of the following as of December 31, 2019 and 2018 (dollar amounts in thousands): As of December 31, 2019 2018 Mezzanine loans $ 146,060 $ 89,762 Senior loans 152,820 — Total CRE loans-held-for-investment 298,880 89,762 Broadly syndicated loans 2,750 — Total loans-held-for-investment and related receivable, net $ 301,630 $ 89,762 The following table details overall statistics for the Company’s CRE loans held-for-investment as of December 31, 2019 (dollar amounts in thousands): As of December 31, 2019 2018 Number of loans 11 4 Principal balance (1) $ 297,357 $ 89,679 Net book value $ 298,880 $ 89,762 Weighted-average interest rate (1) 8.9 % 17.2 % Weighted-average maximum years to maturity (2) 2.9 2.4 ____________________________________ (1) As of December 31, 2019 , 100% of the Company’s loans by principal balance earned a floating rate of interest, primarily indexed to U.S. dollar LIBOR. (2) Maximum maturity date assumes all extension options are exercised by the borrowers; however, the Company’s loans may be repaid prior to such date. Activity relating to the Company’s CRE loans held-for-investment portfolio was as follows for the years ended December 31, 2019 and 2018 (dollar amounts in thousands): Principal Balance Deferred Fees / Other Items (1) Loan Fees Receivable Net Book Value Balance, January 1, 2018 $ — $ — $ — $ — Loan fundings 89,295 (6,623 ) 6,623 89,295 Capitalized interest (2) 384 — — 384 Deferred fees and other items — (185 ) — (185 ) Accretion and amortization of fees and other items — 268 — 268 Balance, December 31, 2018 $ 89,679 $ (6,540 ) $ 6,623 $ 89,762 Loan fundings 216,318 (389 ) 1,085 217,014 Principal repayments received (17,186 ) — — (17,186 ) Capitalized interest (2) 8,546 — — 8,546 Deferred fees and other items — (1,531 ) (166 ) (1,697 ) Accretion and amortization of fees and other items — 2,441 — 2,441 Balance, December 31, 2019 $ 297,357 $ (6,019 ) $ 7,542 $ 298,880 ____________________________________ (1) Other items primarily consist of purchase discounts or premiums, accretion of exit fees and deferred origination expenses. (2) Represents accrued interest on loans whose terms do not require a current cash payment of interest.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (dollar amounts in thousands): Outstanding Notional Fair Value of Assets (Liability) Balance Sheet Amount as of Interest Effective Maturity December 31, December 31, Location December 31, 2019 Rates (1) Dates Dates 2019 2018 Interest Rate Swaps Interest receivable, prepaid expenses and other assets $ 60,000 2.55% to 3.62% 3/14/2016 to 6/29/2016 4/5/2021 to 7/1/2021 $ 261 $ 10,993 Interest Rate Swap Deferred rental income, derivative liability and other liabilities $ 811,666 4.02% 8/15/2018 3/15/2021 $ (4,181 ) $ — ____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2019 .

Credit Facilities And Notes P_2

Credit Facilities And Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the debt balances as of December 31, 2019 and 2018 , and the debt activity for the year ended December 31, 2019 (in thousands): During the Year Ended December 31, 2019 Balance as of December 31, 2018 Debt Issuances & Assumptions (1) Repayments & Modifications Accretion & (Amortization) Balance as of December 31, 2019 Fixed rate debt $ 1,178,166 $ — $ (451,905 ) (2) $ — $ 726,261 Variable rate debt 20,500 — (20,500 ) — — Credit facility 1,331,000 424,500 (870,500 ) — 885,000 Total debt 2,529,666 424,500 (1,342,905 ) — 1,611,261 Net premiums (3) 331 — — (90 ) 241 Deferred costs – credit facility (4) (6,731 ) (19 ) 745 (5) 2,072 (3,933 ) Deferred costs – fixed rate debt (6,352 ) — 1,526 (5) 2,117 (2,709 ) Total debt, net $ 2,516,914 $ 424,481 $ (1,340,634 ) $ 4,099 $ 1,604,860 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Includes the assumption of $205.8 million of fixed rate debt related to property dispositions during the year ended December 31, 2019 . (3) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (4) Deferred costs related to the term portion of the Credit Facility (as defined below). (5) Represents deferred financing costs written off during the period resulting from debt repayments prior to the respective maturity dates.
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2019 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2020 $ 165,678 2021 97,701 2022 913,962 2023 366,155 2024 67,765 Thereafter — Total $ 1,611,261

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow disclosures for the years ended December 31, 2019 , 2018 and 2017 are as follows (in thousands): Year Ended December 31, 2019 2018 2017 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Distributions declared and unpaid $ 16,510 $ 16,518 $ 16,531 Accrued capital expenditures $ 1,165 $ 557 $ 192 Interest income capitalized to loans held-for-investment $ 8,546 $ 384 $ — Common stock issued through distribution reinvestment plan $ 82,388 $ 91,764 $ 101,344 Change in fair value of interest rate swaps $ (14,913 ) $ 3,875 $ 7,654 Mortgage notes assumed by buyer in real estate disposition $ (205,765 ) $ — $ — Supplemental Cash Flow Disclosures: Interest paid $ 97,418 $ 93,424 $ 85,140 Cash paid for taxes $ 1,218 $ 1,475 $ 1,555

Related-Party Transactions and

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company recorded fees and expense reimbursements as shown in the table below for services provided by CMFT Management or its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2019 2018 2017 Management fees and expenses $ 16,350 (1 ) $ — $ — Acquisition fees and expenses $ 2,110 $ 2,749 $ 6,532 Disposition fees $ 3,967 $ 478 $ — Advisory fees and expenses $ 25,989 $ 43,399 $ 44,072 Operating expenses $ 3,594 $ 5,163 $ 4,494 ____________________________________ (1) Includes advisor reimbursements incurred subject to the Management Agreement.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 , 2018 and 2017 : Year Ended December 31, Character of Distributions: 2019 2018 2017 Ordinary dividends 39 % 52 % 51 % Nondividend distributions 7 % 48 % 42 % Capital gain distributions 54 % — % 7 % Total 100 % 100 % 100 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of future minimum rental income for operating leases - ASC 842	As of December 31, 2019 , the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2020 $ 232,207 2021 219,740 2022 206,813 2023 186,798 2024 162,585 Thereafter 1,051,702 Total $ 2,059,845
Schedule of future minimum rental income for operating leases - ASC 840	As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, as of December 31, 2018 (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 352,699 2020 343,991 2021 327,661 2022 311,858 2023 284,510 Thereafter 1,718,650 Total $ 3,339,369
Schedule of components of lease income	Rental and other property income during years ended December 31, 2019 , 2018 and 2017 consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Fixed rental and other property income (1) $ 342,453 $ 368,847 $ 371,139 Variable rental and other property income (2) 50,771 $ 60,789 $ 52,956 Total rental and other property income $ 393,224 $ 429,636 $ 424,095 __________________________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent, net of bad debt expense.

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (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, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 109,260 $ 105,529 $ 105,479 $ 93,088 Net income $ 8,851 $ 9,006 $ 2,573 $ 162,590 Net income attributable to the Company $ 8,817 $ 8,973 $ 2,541 $ 162,568 Basic and diluted net income per common share (1) $ 0.03 $ 0.03 $ 0.01 $ 0.52 ____________________________________ (1) The Company calculates net income per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 109,503 $ 107,395 $ 105,705 $ 108,673 Net income (loss) $ 19,073 $ 17,825 $ 14,905 $ (14,391 ) Net income (loss) attributable to the Company $ 19,039 $ 17,792 $ 14,872 $ (14,425 ) Basic and diluted net income (loss) per common share (1) $ 0.06 $ 0.06 $ 0.05 $ (0.05 ) ____________________________________ (1) The Company calculates net income (loss) 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 (Real

Organization and Business (Real Estate Property) (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2019USD ($)ft²propertyloanstates	Dec. 31, 2018USD ($)property
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of real estate properties	396
Rentable commercial space (sqft) | ft²	19.1
Number of states in which entity owns properties | states	43
Percentage of rentable space leased	94.60%
Number of real estate properties held for sale (property)	29	1
Number of loans | loan	12
Net book value | $	$ 301,630	$ 89,762

Organization and Business (Shar

Organization and Business (Shares Offering) (Details) - USD ($)	12 Months Ended	24 Months Ended
	Dec. 31, 2019	Apr. 04, 2014	Mar. 27, 2020	Dec. 31, 2018	Dec. 31, 2017	Aug. 02, 2016	Jun. 30, 2016	Dec. 19, 2013	Jan. 26, 2012
Organization And Business
Common stock, shares issued (shares)	311,207,725	297,400,000		311,381,396
Common stock, shares deregistered (shares)		404,000
NAV per share (USD per share)	$ 7.77			$ 8.65
IPO
Organization And Business
Common stock, shares authorized									$ 2,975,000,000
Common stock, shares issued (shares)		292,300,000
Distribution reinvestment plan
Organization And Business
Common stock, shares authorized	$ 600,000,000			$ 600,000,000	$ 600,000,000
Common stock, shares issued (shares)		5,100,000					241,700,000
Common stock shares registered dividend reinvestment plan, value						$ 600,000,000		$ 247,000,000
Common Stock, Shares Deregistered, Value							$ 5,300,000
Distribution reinvestment plan | Subsequent Event
Organization And Business
Share price (USD per share)			$ 7.77
CCPT IV OP
Organization And Business
General partner partnership interest percentage	100.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Principles of Consolidation and Basis of Presentation) (Details) - property	Dec. 31, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Number of real estate properties	396
Consolidated properties
Real Estate Properties [Line Items]
Number of real estate properties	9	9

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Reclassification) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Rental income		$ 429,636	$ 424,095
Loss on extinguishment of debt	$ 7,227	46	896
Interest and debt expense	98,965	97,871	89,792
Capital expenditure	17,722	7,297	13,315
Investment in real estate assets	6,165	11,905	307,385
Gain on disposition of real estate, net		19,200	320,700
Straight line rental income	$ 5,612	7,555	8,174
Rental Revenue
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Rental income		368,847	371,139
Tenant Reimbursements
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Rental income		60,789	52,956
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Interest and debt expense		97,900	90,700
Bad debt expenses		522	1,900
Straight line rental income		8,100	10,100
Previously Reported | Rental Revenue
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Rental income		371,200	371,900
Previously Reported | Tenant Reimbursements
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Rental income		$ 58,400	$ 52,200

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Real Estate Assets) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2020property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)tenantproperty
Real Estate Properties [Line Items]
Impairment charges | $		$ 72,939	$ 32,975	$ 2,855
Impairment of real estate, number of properties				4
Number of tenants that filed bankruptcy | tenant				2
Real estate held for sale in next 24 months | $		1,700,000
Real estate held-for-sale | $		$ 351,897	$ 6,780
Number of real estate properties held for sale (property)		29	1
Mortgage notes payable | $		$ 126,700
Number of properties disposed		497	21
Revised Expected Holding Properties
Real Estate Properties [Line Items]
Impairment of real estate, number of properties		27	20
Vacant
Real Estate Properties [Line Items]
Impairment of real estate, number of properties		7	2
Building
Real Estate Properties [Line Items]
Property, plant and equipment, useful life		40 years
Site Improvements
Real Estate Properties [Line Items]
Property, plant and equipment, useful life		15 years
Subsequent Event
Real Estate Properties [Line Items]
Number of properties disposed	12

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Redeemable Noncontrolling interest in Consolidated Joint Venture) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Net income (loss) allocated to noncontrolling interest	$ 121	$ 134	$ 131
Distributions to noncontrolling interest	$ 285	279	$ 291
Equity attributable to noncontrolling interest		$ 2,300

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Cash and Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	$ 126,800
Restricted cash	7,331	$ 9,141	$ 9,098
Restricted Lockbox Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	3,100	3,400
Escrow Deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 4,200	$ 5,700

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Loan Held-for-Investments) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Loans held-for-investment and related receivables, net	$ 301,630,000	$ 89,762,000
Interest income	20,132,000	1,640,000	$ 0
Capitalized to held for investment	$ 8,500,000
Number of nonaccrual loans | loan	8
Impairments on held for investment	$ 0
Mezzanine Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans held-for-investment and related receivables, net	$ 146,060,000	$ 89,762,000

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Deferred Financing Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Deferred costs, net	$ 2,301	$ 2,087

Summary of Significant Accou_11

Summary of Significant Accounting Policies (Leases) (Details) $ in Millions	Dec. 31, 2019USD ($)
Accounting Policies [Abstract]
Lease liability	$ 2.6
Operating lease, right-of-use asset	$ 2.6

Summary of Significant Accou_12

Summary of Significant Accounting Policies (Earnings (Loss) and Distributions Per Share) (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Weighted average number diluted shares outstanding adjustment (in shares)	0	0	0

Summary of Significant Accou_13

Summary of Significant Accounting Policies (Reportable Segment) (Details)	12 Months Ended
	Dec. 31, 2019segment
Accounting Policies [Abstract]
Number of reportable segments	1

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (percentage)	9.00%
Number of impaired properties | property	34	22	4
Impairment charges	$ 72,939	$ 32,975	$ 2,855
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	302,000
Fair Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Company's debt	1,600,000	2,460,000
Fair Value | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities, fair value	2,000
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	301,600
Carrying Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Company's debt	1,610,000	2,530,000
Land and Building | Fair Value | Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of real estate assets	$ 384,400	$ 332,400	$ 4,300
Discount rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	7.40%
Discount rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	9.50%
Discount rate | Investments | Minimum | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.0775
Discount rate | Investments | Maximum | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.090
Measurement Input, Cap Rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	5.50%
Measurement Input, Cap Rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	9.20%

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis) (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Interest rate swaps	$ 261	$ 10,993
Total financial assets	261	10,993
Financial liability:
Derivative liabilities	(4,181)
Total financial liability	(4,181)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
Interest rate swaps	0	0
Total financial assets	0	0
Financial liability:
Derivative liabilities	0
Total financial liability	0
Significant Other Observable Inputs (Level 2)
Financial assets:
Interest rate swaps	261	10,993
Total financial assets	261	10,993
Financial liability:
Derivative liabilities	(4,181)
Total financial liability	(4,181)
Significant Unobservable Inputs (Level 3)
Financial assets:
Interest rate swaps	0	0
Total financial assets	0	$ 0
Financial liability:
Derivative liabilities	0
Total financial liability	$ 0

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Impairment Charges by Asset Class) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	$ 72,939	$ 32,975	$ 2,855
Intangible lease liabilities	(337)	(145)	0
Total impairment loss	72,939	32,975	2,855
Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	12,648	6,436	725
Buildings, fixtures and improvements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	56,572	25,299	1,734
Intangible lease assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	$ 4,056	$ 1,385	$ 396

Real Estate Assets (Asset Acqui

Real Estate Assets (Asset Acquisition Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Real estate investment property, at cost	$ 2,843,438	$ 4,998,909
Real estate investments, asset acquisition costs capitalized			$ 6,100
Wholly Owned Properties
Business Acquisition [Line Items]
Percent of assets acquired	100.00%		100.00%
Number of properties acquired through asset acquisitions | property	1	1
Real estate investment property, at cost	$ 6,165	$ 11,905	$ 251,999
Real estate investments, asset acquisition costs capitalized	$ 165	$ 277

Real estate Assets (Assets and

Real estate Assets (Assets and Liabilities Acquired Through Asset Acquisition) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Land	$ 700,210	$ 1,172,449
Buildings, fixtures and improvements	1,830,101	3,271,592
Intangible lease assets	313,127	554,868
Total real estate assets, at cost	$ 2,843,438	$ 4,998,909
Below market lease, weighted average useful life	7 years 3 months 12 days	7 years 2 months 12 days
Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	20 years 1 month	19 years	16 years 10 months 23 days
Above-market lease amortization
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)			13 years 7 months 5 days
Intangible lease liabilities
Business Acquisition [Line Items]
Below market lease, weighted average useful life		19 years	8 years 6 months
Wholly Owned Properties
Business Acquisition [Line Items]
Land	$ 1,501	$ 2,107	$ 32,919
Buildings, fixtures and improvements	3,804	9,044	177,682
Revenue bonds			2,081
Total real estate assets, at cost	6,165	11,905	251,999
Wholly Owned Properties | Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Intangible lease assets	$ 860	1,392	39,257
Wholly Owned Properties | Above-market lease amortization
Business Acquisition [Line Items]
Intangible lease assets			3,624
Wholly Owned Properties | Intangible lease liabilities
Business Acquisition [Line Items]
Intangible lease liabilities		$ (638)	$ (3,564)

Real Estate Assets (Property Di

Real Estate Assets (Property Dispositions) (Details) ft² in Millions	Sep. 03, 2019USD ($)ft²property	Mar. 27, 2020USD ($)property	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale (property) | property			29	1
Repayments of debt			$ 1,342,905,000
Number of properties disposed | property			497	21
Proceeds from disposition of properties			$ 1,399,953,000	$ 64,180,000	$ 99,013,000
Real estate held-for-sale			351,897,000	6,780,000
Mortgage notes payable			126,700,000
Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale (property) | property	444
Aggregate gross sales price	$ 1,200,000,000		1,650,000,000
Repayments of debt	$ 532,300,000
Proceeds from disposition of properties			1,400,000,000
Gain on disposition of real estate, net			$ 180,700,000
Property Disposition 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gross sales price				66,600,000
Repayments of debt				15,000,000
Proceeds from disposition of properties				49,100,000
Gain on disposition of real estate, net				6,300,000
Property Dispositions, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gross sales price					100,600,000
Proceeds from disposition of properties					65,900,000
Gain on disposition of real estate, net					17,000,000
Repayments of related party debt					33,000,000
Affiliated entity | Disposition fees | Property Disposition 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Related party transaction, expenses from transactions with related party				$ 478,000
Affiliated entity | Disposition fees | Property Dispositions, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Related party transaction, expenses from transactions with related party					$ 0
Retail Property | Property Disposition 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property				19
Single-Tenant Properties | Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale (property) | property	452
Retail Property | Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property			482
Retail Property | Property Dispositions, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property					14
Anchored Shopping Center | Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property			14
Anchored Shopping Center | Property Disposition 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property				2
Industrial Property | Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property			1
Industrial Property | Property Dispositions, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed | property					1
2019 Asset Acquisition
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of real estate property | ft²	5.1
Debt instrument, face amount	$ 130,800,000
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt instrument, face amount		$ 100,000,000
Number of properties disposed | property		12
Subsequent Event | 2019 Asset Acquisition
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gross sales price		$ 26,300,000
Consolidated properties | Single-Tenant Properties | Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale (property) | property	9

Real Estate Assets (Impairment

Real Estate Assets (Impairment of Property) (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)ft²property	Dec. 31, 2018USD ($)ft²property	Dec. 31, 2017USD ($)ft²property
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Number of impaired properties | property	34	22	4
Area of real estate property impaired | ft²	3,400	2,300	33
Impairment charges	$ 72,939	$ 32,975	$ 2,855
Carrying Value
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Carrying value of impaired property	457,300	365,400	7,200
Fair Value
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Carrying value of impaired property		332,400	4,300
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | Land and Building | Fair Value
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value of real estate assets	$ 384,400	$ 332,400	$ 4,300

Real Estate Assets (Schedule of

Real Estate Assets (Schedule of Property Acquisitions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Investment in real estate assets			$ 251,999
Aggregate purchase price			55,386
Purchase price of asset acquisitions			$ 307,385
Below market lease, weighted average useful life	7 years 3 months 12 days	7 years 2 months 12 days
Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	20 years 1 month	19 years	16 years 10 months 23 days
Above-market lease amortization
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)			13 years 7 months 5 days
Intangible lease liabilities
Business Acquisition [Line Items]
Below market lease, weighted average useful life		19 years	8 years 6 months

Real Estate Assets Real Estate

Real Estate Assets Real Estate Assets (Business Combination Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Business Acquisition [Line Items]
Purchase price of asset acquisitions			$ 307,385
Investment in real estate assets			251,999
Real estate investments, asset acquisition costs capitalized			$ 6,100
Voting interest acquired (percent)			100.00%
Aggregate purchase price			$ 55,386
Revenue of acquiree since acquisition date			5,100
Net income (loss) of acquiree			708
Transaction-related	$ 2,278	$ 2,601	$ 1,599
2017 Acquisitions
Business Acquisition [Line Items]
Number of business acquisition and asset acquisition, properties acquired | property			42
Purchase price of asset acquisitions			$ 307,400
Number of properties acquired through asset acquisitions | property			38
Number of businesses acquired | property			4
Transaction-related			$ 1,300
Wholly Owned Properties
Business Acquisition [Line Items]
Number of properties acquired through asset acquisitions | property	1	1
Percent of assets acquired	100.00%		100.00%
Real estate investments, asset acquisition costs capitalized	$ 165	$ 277

Real Estate Assets Real Estat_2

Real Estate Assets Real Estate Assets (Schedule of Business Combination Purchase Price allocation) (Details) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Land	$ 9,873
Buildings, fixtures and improvements	41,186
Total purchase price	55,386
Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Acquired finite-lived intangible asset - leases, amount	5,974
Above-market lease amortization
Business Acquisition [Line Items]
Acquired finite-lived intangible asset - leases, amount	988
Intangible lease liabilities
Business Acquisition [Line Items]
Intangible lease liabilities	$ (2,635)

Real Estate Assets (Business Ac

Real Estate Assets (Business Acquisition, Pro Forma Information) (Details) - 2017 Acquisitions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pro forma basis (unaudited)
Revenue	$ 424,416	$ 412,883
Net income	$ 80,912	$ 71,301

Intangible Lease Assets and L_3

Intangible Lease Assets and Liabilities (Schedule of Finite-lived Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible lease assets	$ 182,147	$ 342,357
Acquired below market liabilities, net	20,523	36,418
Below market lease accumulated amortization	$ 25,800	$ 34,732
Below market lease, weighted average useful life	7 years 3 months 12 days	7 years 2 months 12 days
In-place lease and other intangible amortization
Finite-Lived Intangible Assets [Line Items]
Intangible lease assets	$ 164,724	$ 307,895
Accumulated amortization of intangible lease assets	$ 111,670	$ 184,532
Useful life	10 years 5 months 6 days	10 years 1 month 6 days
Above-market lease amortization
Finite-Lived Intangible Assets [Line Items]
Intangible lease assets	$ 17,423	$ 34,462
Accumulated amortization of intangible lease assets	$ 19,310	$ 27,979
Useful life	7 years 11 months 1 day	8 years 4 months 24 days

Intangible Lease Assets and L_4

Intangible Lease Assets and Liabilities (Schedule of finite-lived intangible assets amortization expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Below-market lease amortization	$ 6,253	$ 8,448	$ 9,503
In-place lease and other intangible amortization
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	32,058	45,559	46,602
Above-market lease amortization
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 4,315	$ 6,740	$ 7,304

Intangible Lease Assets and L_5

Intangible Lease Assets and Liabilities (Schedule of Finite-lived Intangible Assets and Liabilities, Future Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Total	$ 182,147	$ 342,357
Below Market Lease, Amortization Income, Maturity Schedule [Abstract]
2020	4,746
2021	2,907
2022	2,495
2023	2,126
2024	1,601
Thereafter	6,648
Total	20,523	36,418
In-place lease and other intangible amortization
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	20,943
2021	18,544
2022	17,458
2023	15,593
2024	13,901
Thereafter	78,285
Total	164,724	307,895
Above-market lease amortization
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	2,753
2021	2,175
2022	2,005
2023	1,768
2024	1,326
Thereafter	7,396
Total	$ 17,423	$ 34,462

Loans Held-For-Investment (Sche

Loans Held-For-Investment (Schedule of Loans Held for Investment) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-investment and related receivables, net	$ 301,630	$ 89,762
Mezzanine Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-investment and related receivables, net	146,060	89,762
Senior Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-investment and related receivables, net	152,820	0
CRE loans-held-for-investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-investment and related receivables, net	298,880	89,762	$ 0
Broadly syndicated loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held-for-investment and related receivables, net	$ 2,750	$ 0

Loans Held-For-Investment (Narr

Loans Held-For-Investment (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net book value	$ 301,630	$ 89,762
Mezzanine Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans purchased | loan	4
Number of loans | loan	8
Net book value	$ 146,060	89,762
Senior Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans purchased | loan	3
Net book value	$ 152,820	0
Broadly syndicated loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans purchased | loan	1
Net book value	$ 2,750	$ 0
Credit Concentration Risk | Asset Benchmark | Mezzanine Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	4.00%
Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other commitment	$ 16,200

Loans Held-For-Investment (Loan

Loans Held-For-Investment (Loans Held-For-Investment) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)loan	Dec. 31, 2017USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan	12
Net book value	$ 301,630	$ 89,762
LIBOR
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate	100.00%
CRE loans-held-for-investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan	11	4
Principal balance	$ 297,357	$ 89,679
Net book value	$ 298,880	$ 89,762	$ 0
Weighted-average interest rate	8.90%	17.20%
Weighted-average maximum years to maturity	2 years 10 months 9 days	2 years 4 months 24 days

Loans Held-For-Investment (Lo_2

Loans Held-For-Investment (Loans Held-For-Investment Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loans Held-for-Investment [Roll Forward]
Beginning balance, net book value	$ 89,762
Capitalized interest	8,500
Ending balance, net book value	301,630	$ 89,762
CRE loans-held-for-investment
Loans Held-for-Investment [Roll Forward]
Beginning balance, principal balance	89,679	0
Beginning balance, deferred fees/other items	(6,540)	0
Beginning balance, loan fees receivable	6,623	0
Beginning balance, net book value	89,762	0
Loan fundings, principal balance	216,318	89,295
Loan fundings, deferred fees/other items	(389)	(6,623)
Loan fundings, loan fees receivable	1,085	6,623
Loan fundings, net book value	217,014	89,295
Principal repayments received	(17,186)
Capitalized interest	8,546	384
Deferred fees and other items, deferred fees/other items	(1,531)	(185)
Deferred fees and other items, loan fees receivable	(166)
Deferred fees and other items, net book value	(1,697)	(185)
Accretion (amortization) of fees and other items	2,441	268
Ending balance, principal balance	297,357	89,679
Ending balance, deferred fees/other items	(6,019)	(6,540)
Ending balance, loan fees receivable	7,542	6,623
Ending balance, net book value	$ 298,880	$ 89,762

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)derivative	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Debt securities, gain on held-to-maturity	$ 118
Amount of (gain) loss reclassified from other comprehensive income into income as interest expense and other, net	(3,475)	$ (4,305)
Amount of (gain) loss reclassified from other comprehensive income into income as interest expense and other, net			$ 3,103
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months	$ 3,100
Interest rate swaps
Derivative [Line Items]
Number of interest rate derivatives matured | derivative	1
Derivative, number of instruments terminated | derivative	3
Derivative, number of instruments held (derivative) | derivative	3
Interest rate swaps | Cash flow hedging
Derivative [Line Items]
Derivative liability, event of default, termination amount	$ 4,300

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Schedule of Derivative Instruments) (Details) - Cash flow hedging - Interest rate swaps - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Interest receivable, prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 60,000
Derivative asset, fair value	$ 261	$ 10,993
Interest receivable, prepaid expenses and other assets | Minimum
Derivatives, Fair Value [Line Items]
Interest rate	2.55%
Interest receivable, prepaid expenses and other assets | Maximum
Derivatives, Fair Value [Line Items]
Interest rate	3.62%
Deferred Rental Income, Derivative LIabilities and Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 811,666
Interest rate	4.02%
Derivative liability, fair value	$ (4,181)	$ 0

Credit Facilities And Notes P_3

Credit Facilities And Notes Payable (Fixed rate debt) (Details)	3 Months Ended	12 Months Ended
	Mar. 27, 2020USD ($)	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Credit facilities and notes payable, net		$ 1,604,860,000	$ 2,516,914,000
Debt instrument, weighted average years to maturity		2 years 4 months 12 days
Debt, weighted average interest rate		3.90%
Long-term debt		$ 1,611,261,000	2,529,666,000
Stated interest rate (percentage)		9.00%
Debt maturities within next year		$ 165,678,000
Number of real estate properties | property		396
Repayments of first mortgage bond		$ 1,137,022,000	227,181,000	$ 1,341,617,000
Fixed rate debt
Debt Instrument [Line Items]
Long-term debt		726,261,000	1,178,166,000
Debt instrument, collateral amount		$ 1,300,000,000
Fixed rate debt | Minimum
Debt Instrument [Line Items]
Stated interest rate (percentage)		2.60%
Fixed rate debt | Maximum
Debt Instrument [Line Items]
Stated interest rate (percentage)		4.98%
Variable rate debt
Debt Instrument [Line Items]
Long-term debt		$ 0	$ 20,500,000
Mortgages
Debt Instrument [Line Items]
Number of real estate properties | property		444
Purchase of mortgage debt		$ 130,800,000
Repayments of first mortgage bond		101,300,000
Unsecured term loan
Debt Instrument [Line Items]
Repayments of first mortgage bond		165,000,000
Unsecured revolving loan
Debt Instrument [Line Items]
Repayments of first mortgage bond		266,000,000
Interest rate swaps | Variable rate debt
Debt Instrument [Line Items]
Long-term debt		$ 60,000,000
Subsequent Event
Debt Instrument [Line Items]
Transfer mortgage payable	$ 97,000,000
Debt maturities within next year	115,200,000
Purchase of mortgage debt	$ 100,000,000

Credit Facilities And Notes P_4

Credit Facilities And Notes Payable (Schedule of Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	$ 2,529,666
Net premiums, beginning of the period	331
Total debt, net beginning of period	2,516,914
Debt Issuance and Assumptions	424,500
Proceeds from debt, bet of issuance costs	424,481
Repayments & Modifications	(1,342,905)
Repayments, Extinguishment and Assumptions of Debt, Net	(1,340,634)
Amortization of premium	(90)
Accretion & (Amortization)	4,099
Long-term debt, gross, ending balance	1,611,261	$ 2,529,666
Net premiums, end of the period	241	331
Total debt, net end of period	1,604,860	2,516,914
Mortgage notes assumed by buyer in real estate disposition	(205,765)	0	$ 0
Fixed rate debt
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	1,178,166
Deferred costs, beginning of period	(6,352)
Repayments & Modifications	(451,905)
Repayments and Modifications, Deferred costs	1,526
Amortization of deferred financing costs	2,117
Long-term debt, gross, ending balance	726,261	1,178,166
Deferred costs, end of period	(2,709)	(6,352)
Variable rate debt
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	20,500
Repayments & Modifications	(20,500)
Long-term debt, gross, ending balance	0	20,500
Line of Credit
Short-Term and Long-Term Debt [Roll Forward]
Long-term debt, gross, beginning balance	1,331,000
Deferred costs, beginning of period	(6,731)
Debt Issuance and Assumptions	424,500
Proceeds from issuances of deferred costs	(19)
Repayments & Modifications	(870,500)
Repayments and Modifications, Deferred costs	745
Amortization of deferred financing costs	2,072
Long-term debt, gross, ending balance	885,000	1,331,000
Deferred costs, end of period	$ (3,933)	$ (6,731)

Credit Facilities And Notes P_5

Credit Facilities And Notes Payable (Credit Facilities) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Stated interest rate (percentage)	9.00%
Debt, weighted average interest rate	3.90%
Line of Credit | Reinvestment period
Debt Instrument [Line Items]
Stated interest rate (percentage)	1.70%
Line of Credit | Amortization period
Debt Instrument [Line Items]
Stated interest rate (percentage)	2.00%
JPMorgan Chase Bank, N.A. | Line of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 1,240,000,000
Stated interest rate (percentage)	2.00%
Long-term line of credit	$ 885,000,000
Debt, weighted average interest rate	4.00%
Unused borrowing capacity	$ 349,400,000
Line of credit, current borrowing capacity	107,100,000
Line of credit facility, covenant, minimum consolidated net worth	$ 2,000,000,000
Line of credit facility, covenant, minimum consolidated net worth, percentage of equity issuance	75.00%
Debt instrument, covenant, fixed charge coverage ratio	1.50
Minimum required assets under management	$ 1,250,000,000
JPMorgan Chase Bank, N.A. | Line of Credit | Federal funds rate plus
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
JPMorgan Chase Bank, N.A. | Line of Credit | One-Month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
JPMorgan Chase Bank, N.A. | Line of Credit | Minimum
Debt Instrument [Line Items]
Stated interest rate (percentage)	0.65%
Line of credit facility, covenant, unsecured debt service coverage ratio	175.00%
JPMorgan Chase Bank, N.A. | Line of Credit | Minimum | Statutory Reserve Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.65%
JPMorgan Chase Bank, N.A. | Line of Credit | Maximum
Debt Instrument [Line Items]
Stated interest rate (percentage)	1.25%
Line of credit facility, covenant, leverage ratio	60.00%
Debt instrument, covenant, unsecured debt to unencumbered asset value ratio	60.00%
Line of credit facility, covenant, secured debt ratio	40.00%
Line of credit facility, covenant, ratio of secured debt to total asset value	15.00%
JPMorgan Chase Bank, N.A. | Line of Credit | Maximum | Statutory Reserve Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
JPMorgan Chase Bank, N.A. | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 350,000,000
Long-term line of credit	0
Debt instrument, face amount	300,000,000
JPMorgan Chase Bank, N.A. | Line of Credit | Term loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	885,000,000
Long-term line of credit	885,000,000
JPMorgan Chase Bank, N.A. | Line of Credit | Term loan | Interest rate swaps
Debt Instrument [Line Items]
Long-term line of credit	$ 811,700,000
Debt, weighted average interest rate	4.00%

Credit Facilities And Notes P_6

Credit Facilities And Notes Payable (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 165,678
2021	97,701
2022	913,962
2023	366,155
2024	67,765
Thereafter	0
Total	$ 1,611,261	$ 2,529,666

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Distributions declared and unpaid	$ 16,510	$ 16,518	$ 16,531
Accrued capital expenditures	1,165	557	192
Common stock issued through distribution reinvestment plan	82,388	91,764	101,344
Change in fair value of interest rate swaps	(14,913)	3,875	7,654
Mortgage notes assumed by buyer in real estate disposition	(205,765)	0	0
Supplemental Cash Flow Disclosures:
Interest paid	97,418	93,424	85,140
Cash paid for taxes	1,218	1,475	1,555
CRE loans-held-for-investment
Loans and Leases Receivable Disclosure [Line Items]
Interest income capitalized to loans held-for-investment	$ 8,546	$ 384	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 27, 2020	Dec. 31, 2019
Subsequent Event
Financing Receivable, Impaired [Line Items]
Other commitment	$ 122.9
Unfunded Loan Commitment
Financing Receivable, Impaired [Line Items]
Other commitment		$ 16.2
Settlement of Investment
Financing Receivable, Impaired [Line Items]
Other commitment		$ 126.8

Related Party Transactions an_2

Related Party Transactions and Arrangements (Management Fees) (Details) - Advisors	Aug. 20, 2019USD ($)
Related Party Transaction [Line Items]
Management fee per annum	$ 250,000
Management fee per quarter	$ 62,500
Management fee percent per annum	1.50%
Management fee percent per quarter	0.375%

Related Party Transactions an_3

Related Party Transactions and Arrangements (Incentive Compensation) (Details) - Advisors - USD ($)	Aug. 20, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Incentive compensation in excess of product, quarterly percentage	20.00%
Incentive compensation in excess of product, annualized percentage	7.00%
Incentive compensation fees		$ 0

Related Party Transactions an_4

Related Party Transactions and Arrangements (Acquisition Fees and Expenses) (Details) - Maximum - Advisors	Aug. 20, 2019
Acquisition Fee
Related Party Transaction [Line Items]
Acquisition and advisory fee (percent)	2.00%
Acquisition fees and expenses
Related Party Transaction [Line Items]
Acquisition fees and expenses, reimbursement (percent)	6.00%

Related Party Transactions an_5

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

Related Party Transactions an_6

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

Related Party Transactions an_7

Related Party Transactions and Arrangements (Disposition Fees) (Details) - Maximum - Advisors	Aug. 20, 2019
Disposition Fee for Sale of Real Estate
Related Party Transaction [Line Items]
Commissions performance and other fees (percent)	1.00%
Brokerage Commissions And Disposition Fees
Related Party Transaction [Line Items]
Commissions performance and other fees (percent)	6.00%

Related Party Transactions an_8

Related Party Transactions and Arrangements (Subordinated Performance Fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 20, 2019
Related Party Transaction [Line Items]
Cumulative noncompounded annual return (percent)				8.00%
Subordinate Performance Fees for Listing
Related Party Transaction [Line Items]
Commissions performance and other fees (percent)				15.00%
Subordinate Performance Fee in Event of Liquidation
Related Party Transaction [Line Items]
Commissions performance and other fees (percent)				15.00%
Subordinated Performance Fees
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 0	$ 0	$ 0

Related Party Transactions an_9

Related Party Transactions and Arrangements (Schedule of Related Party Transaction) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Due to affiliates	$ 14,458	$ 5,156
Acquisition, Disposition and Operating Activities Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Due to affiliates	14,500	5,200
Management fees and expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	16,350	0	$ 0
Acquisition fees and expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	2,110	2,749	6,532
Disposition fees | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	3,967	478	0
Advisory fees and expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	25,989	43,399	44,072
Operating expenses | Advisors
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party	$ 3,594	$ 5,163	$ 4,494

Related Party Transactions a_10

Related Party Transactions and Arrangements (Due to/from Affiliates Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Due to affiliates	$ 14,458	$ 5,156
Affiliated entity
Related Party Transaction [Line Items]
Due to affiliates	$ 14,500	$ 5,200

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	Aug. 11, 2010	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 02, 2016	Dec. 19, 2013
Class of Stock [Line Items]
Common stock, par value (USD per share)		$ 0.01	$ 0.01
Common Stock
Class of Stock [Line Items]
Issuance of common stock (shares)	20,000	9,335,895	9,615,850	10,095,437
Share price (USD per share)	$ 10
Distribution reinvestment plan
Class of Stock [Line Items]
Common stock shares registered dividend reinvestment plan, value					$ 600,000,000	$ 247,000,000
Common stock, shares authorized		$ 600,000,000	$ 600,000,000	$ 600,000,000
Common stock, par value (USD per share)		$ 0.01

Stockholders' Equity (Distribut

Stockholders' Equity (Distribution Reinvestment Plan) (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common stock issued through distribution reinvestment plan	$ 82,388	$ 91,764	$ 101,344
Distribution reinvestment plan
Class of Stock [Line Items]
Dividend reinvestment plan, termination notice period	10 days
Shares issued pursuant to a distribution reinvestment plan (in shares)	9.3	9.6	10.1
Common stock issued through distribution reinvestment plan	$ 82,400	$ 91,800	$ 101,300

Stockholders' Equity (Share Red

Stockholders' Equity (Share Redemption Program) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Redemptions of common stock		$ 84,088	$ 93,830	$ 103,675
Unfulfilled redemption requests, shares	20,600,000
The Share Redemption Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, required holding period		1 year
Stock repurchase program, termination notice period		30 days
Stock repurchased and retired during period, shares		9,500,000	9,800,000	10,300,000
Redemptions of common stock		$ 84,100	$ 93,800	$ 103,700
Unfulfilled redemption requests, shares		79,100,000
The Share Redemption Program | Maximum
Equity, Class of Treasury Stock [Line Items]
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding (percent)		5.00%
Stock repurchase program, number of shares authorized to be repurchased per quarter, prior year percentage of weighted average number of shares outstanding (percent)		1.25%
Stock redemption program, redemption priority, shares		250

Stockholders' Equity (Distrib_2

Stockholders' Equity (Distributions Payable and Distribution Policy) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	24 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)		$ 0.001711452
Distributions payable		$ 16,510	$ 16,518	$ 16,531
Forecast | Subsequent Event
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)	$ 0.001706776

Stockholders' Equity (Equity-Ba

Stockholders' Equity (Equity-Based Compensation) (Details) - CCPT IV 2018 Equity Incentive Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Aug. 10, 2018
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (shares)			400,000
Shares available for future grant	367,500
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted to each of the independent members of the Board	6,500
Grants in period (shares)	32,500
Vested in period (shares)	14,000
Award requisite service period	1 year
Forfeited in period (shares)	18,500
Unrecognized compensation expense	$ 120
Restricted shares | General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 138	$ 33

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Ordinary dividends (percent)	39.00%	52.00%	51.00%
Nondividend distributions (percent)	7.00%	48.00%	42.00%
Capital gain distributions (percent)	54.00%	0.00%	7.00%
Total (percent)	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense (benefit), continuing operations	$ 1,500,000	$ 1,400,000	$ 1,600,000
Unrecognized tax benefits	$ 0	$ 0

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019
Lessor, weighted average remaining lease term	8 years 7 months 6 days
Operating lease, remaining lease term	13 years 8 months 12 days
Lease liability	$ 2,600
Operating lease, right-of-use asset	$ 2,600
Operating lease, discount rate	4.30%
Ground lease, expense	$ 250
Ground lease, payments	242
Future minimum rental payments, 2020	250
Future minimum rental payments, 2021	250
Future minimum rental payments, 2022	250
Future minimum rental payments, 2023	250
Future minimum rental payments, 2024	250
Future minimum rental payments, Thereafter	$ 2,200
Accounting Standards Update 2016-02
Lease liability		$ 2,700
Operating lease, right-of-use asset		$ 2,700

Leases (Future Minimum Rental I

Leases (Future Minimum Rental Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Future Minimum Rental Income
2020	$ 232,207
2021	219,740
2022	206,813
2023	186,798
2024	162,585
Thereafter	1,051,702
Total	$ 2,059,845
Future Minimum Rental Income
2019		$ 352,699
2020		343,991
2021		327,661
2022		311,858
2023		284,510
Thereafter		1,718,650
Total		$ 3,339,369

Leases (Schedule of Components

Leases (Schedule of Components of Lease Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessor, Lease, Description [Line Items]
Fixed rental and other property income	$ 342,453
Variable rental and other property income	50,771
Total rental and other property income		$ 429,636	$ 424,095
Total rental and other property income	$ 393,224
Fixed rental and other property income
Lessor, Lease, Description [Line Items]
Total rental and other property income		368,847	371,139
Variable rental and other property income
Lessor, Lease, Description [Line Items]
Total rental and other property income		$ 60,789	$ 52,956

Quarterly Results (Unaudited)_2

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 93,088	$ 105,479	$ 105,529	$ 109,260	$ 108,673	$ 105,705	$ 107,395	$ 109,503	$ 413,356	$ 431,276	$ 424,095
Net income (loss)	162,590	2,573	9,006	8,851	(14,391)	14,905	17,825	19,073	183,020	37,412	79,551
Net income (loss) attributable to the Company	$ 162,568	$ 2,541	$ 8,973	$ 8,817	$ (14,425)	$ 14,872	$ 17,792	$ 19,039	$ 182,899	$ 37,278	$ 79,420
Basic and diluted net income (loss) per common share (USD per share)	$ 0.52	$ 0.01	$ 0.03	$ 0.03	$ (0.05)	$ 0.05	$ 0.06	$ 0.06	$ 0.59	$ 0.12	$ 0.25

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, shares in Millions	3 Months Ended		12 Months Ended
	Mar. 27, 2020USD ($)property$ / sharesshares	Dec. 31, 2019property$ / sharesshares	Dec. 31, 2019USD ($)property$ / sharesshares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Sep. 03, 2019USD ($)
Subsequent Event [Line Items]
Redemptions of common stock			$ 84,088,000	$ 93,830,000	$ 103,675,000
Unfulfilled redemption requests (shares) | shares		20.6
Number of properties disposed | property		396	396
Net proceeds from disposition of real estate assets			$ 1,399,953,000	64,180,000	99,013,000
Other commitment			$ 2,750,000	$ 0	0
Stated interest rate (percentage)		9.00%	9.00%
NAV per share (USD per share) | $ / shares		$ 7.77	$ 7.77	$ 8.65
Reinvestment period | Line of Credit
Subsequent Event [Line Items]
Stated interest rate (percentage)		1.70%	1.70%
Amortization period | Line of Credit
Subsequent Event [Line Items]
Stated interest rate (percentage)		2.00%	2.00%
2019 Asset Acquisition
Subsequent Event [Line Items]
Debt instrument, face amount						$ 130,800,000
Subsequent Event
Subsequent Event [Line Items]
Redemptions of common stock (shares) | shares	2.3
Redemptions of common stock	$ 19,500,000
Common stock average redemption price per share | $ / shares	$ 8.65
Transfer mortgage payable	$ 97,000,000
Other commitment	328,800,000
Debt instrument, face amount	$ 100,000,000
Subsequent Event | 2019 Asset Acquisition
Subsequent Event [Line Items]
Number of properties disposed | property	7
Real estate property purchase consideration	$ 26,300,000
Subsequent Event | Commercial Real Estate
Subsequent Event [Line Items]
Number of properties disposed | property	12
Real estate property purchase consideration	$ 129,000,000
Net proceeds from disposition of real estate assets	127,000,000
Gain on disposition of real estate, net	$ 13,100,000
The Share Redemption Program
Subsequent Event [Line Items]
Redemptions of common stock			$ 84,100,000	$ 93,800,000	$ 103,700,000
Unfulfilled redemption requests (shares) | shares			79.1
The Share Redemption Program | Subsequent Event
Subsequent Event [Line Items]
Share price (USD per share) | $ / shares	$ 7.77
Distribution reinvestment plan | Subsequent Event
Subsequent Event [Line Items]
Share price (USD per share) | $ / shares	$ 7.77

Schedule III - Real Estate As_2

Schedule III - Real Estate Assets and Accumulated Depreciation - 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
10Box Cost-Plus: | Conway, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	733
Buildings and Improvements	1,654
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,387
Accumulated Depreciation	118
10Box Cost-Plus: | Russellville, AR
Real Estate and Accumulated Depreciation [Line Items]
Land	990
Buildings and Improvements	1,470
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,460
Accumulated Depreciation	130
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, 2019	8,414
Accumulated Depreciation	993
Academy Sports: | Cookeville, TN
Real Estate and Accumulated Depreciation [Line Items]
Land	0
Buildings and Improvements	23,847
Total Adjustment to Basis	73,371
Gross Amount at Which Carried At December 31, 2019	97,218
Accumulated Depreciation	9,604
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, 2019	9,953
Accumulated Depreciation	1,276
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, 2019	9,398
Accumulated Depreciation	1,251
Academy Sports: | Greenville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,968
Buildings and Improvements	7,054
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	9,022
Accumulated Depreciation	633
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, 2019	7,472
Accumulated Depreciation	891
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, 2019	8,404
Accumulated Depreciation	1,167
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, 2019	1,324
Accumulated Depreciation	107
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, 2019	1,479
Accumulated Depreciation	155
Albany Square: | Albany, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,600
Land	1,606
Buildings and Improvements	7,113
Total Adjustment to Basis	373
Gross Amount at Which Carried At December 31, 2019	9,092
Accumulated Depreciation	1,382
Almeda Crossing: | Houston, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	4,738
Buildings and Improvements	26,245
Total Adjustment to Basis	(3,163)
Gross Amount at Which Carried At December 31, 2019	27,820
Accumulated Depreciation	503
AutoZone: | Sheffield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	815
Buildings and Improvements	0
Total Adjustment to Basis	770
Gross Amount at Which Carried At December 31, 2019	1,585
Accumulated Depreciation	99
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, 2019	6,658
Accumulated Depreciation	1,028
Beavercreek Shopping Center: | Beavercreek, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	5,504
Buildings and Improvements	25,178
Total Adjustment to Basis	554
Gross Amount at Which Carried At December 31, 2019	31,236
Accumulated Depreciation	4,419
Bed Bath & Beyond/La-Z-Boy: | Schaumburg, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,300
Land	4,786
Buildings and Improvements	6,149
Total Adjustment to Basis	(1,065)
Gross Amount at Which Carried At December 31, 2019	9,870
Accumulated Depreciation	219
Bob Evans: | Akron, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	447
Buildings and Improvements	1,537
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,984
Accumulated Depreciation	129
Bob Evans: | Anderson, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	912
Buildings and Improvements	1,455
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,367
Accumulated Depreciation	124
Bob Evans: | Austintown, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	305
Buildings and Improvements	1,426
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,731
Accumulated Depreciation	128
Bob Evans: | Birch Run, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	733
Buildings and Improvements	1,192
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,925
Accumulated Depreciation	105
Bob Evans: | Blue Ash, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	628
Buildings and Improvements	1,429
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,057
Accumulated Depreciation	139
Bob Evans: | Chardon, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	333
Buildings and Improvements	682
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,015
Accumulated Depreciation	65
Bob Evans: | Chillicothe, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	557
Buildings and Improvements	1,524
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,081
Accumulated Depreciation	133
Bob Evans: | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	523
Buildings and Improvements	1,376
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,899
Accumulated Depreciation	124
Bob Evans: | Dayton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	325
Buildings and Improvements	1,438
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,763
Accumulated Depreciation	133
Bob Evans: | Eldersburg, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	557
Buildings and Improvements	876
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,433
Accumulated Depreciation	75
Bob Evans: | Florence, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	496
Buildings and Improvements	1,876
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,372
Accumulated Depreciation	170
Bob Evans: | Holland, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	314
Buildings and Improvements	1,367
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,681
Accumulated Depreciation	123
Bob Evans: | Huntersville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	751
Buildings and Improvements	657
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,408
Accumulated Depreciation	57
Bob Evans: | Hurricane, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	297
Buildings and Improvements	1,654
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,951
Accumulated Depreciation	135
Bob Evans: | Milford, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	271
Buildings and Improvements	1,498
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,769
Accumulated Depreciation	136
Bob Evans: | Monroeville, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,340
Buildings and Improvements	848
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,188
Accumulated Depreciation	70
Bob Evans: | Nicholasville, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	731
Buildings and Improvements	693
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,424
Accumulated Depreciation	59
Bob Evans: | North Canton, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	859
Buildings and Improvements	1,393
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,252
Accumulated Depreciation	126
Bob Evans: | Ripley, WV
Real Estate and Accumulated Depreciation [Line Items]
Land	269
Buildings and Improvements	1,304
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,573
Accumulated Depreciation	114
Bob Evans: | Tipp City, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	554
Buildings and Improvements	1,120
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,674
Accumulated Depreciation	104
Bob Evans: | Warsaw, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	684
Buildings and Improvements	1,222
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,906
Accumulated Depreciation	106
Boston Commons: | Springfield, MA
Real Estate and Accumulated Depreciation [Line Items]
Land	3,101
Buildings and Improvements	7,042
Total Adjustment to Basis	280
Gross Amount at Which Carried At December 31, 2019	10,423
Accumulated Depreciation	1,085
Bottom Dollar Grocery: | Ambridge, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	519
Buildings and Improvements	2,985
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	3,504
Accumulated Depreciation	471
Bryan Crossing: | Kodak, TN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,958
Land	863
Buildings and Improvements	6,523
Total Adjustment to Basis	(7,386)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Cabela’s: | Acworth, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,979
Buildings and Improvements	18,775
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	23,754
Accumulated Depreciation	1,179
Cabela’s: | Avon, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	2,755
Buildings and Improvements	10,751
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	13,506
Accumulated Depreciation	686
Cabela’s: | La Vista, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	3,260
Buildings and Improvements	16,923
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	20,183
Accumulated Depreciation	1,022
Cabela’s: | Sun Prairie, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	3,373
Buildings and Improvements	14,058
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	17,431
Accumulated Depreciation	931
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, 2019	3,522
Accumulated Depreciation	310
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, 2019	2,622
Accumulated Depreciation	285
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, 2019	1,424
Accumulated Depreciation	177
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, 2019	1,513
Accumulated Depreciation	94
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, 2019	1,454
Accumulated Depreciation	118
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, 2019	3,506
Accumulated Depreciation	377
Camping World: | Pensacola, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,152
Buildings and Improvements	3,831
Total Adjustment to Basis	(1,307)
Gross Amount at Which Carried At December 31, 2019	4,676
Accumulated Depreciation	19
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	(56,977)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Carlisle Crossing: | Carlisle, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	4,491
Buildings and Improvements	15,817
Total Adjustment to Basis	14
Gross Amount at Which Carried At December 31, 2019	20,322
Accumulated Depreciation	2,527
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, 2019	2,192
Accumulated Depreciation	0
Chestnut Square: | Brevard, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	425
Buildings and Improvements	5,037
Total Adjustment to Basis	(5,462)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Chick-fil-A: | Dickson City, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,113
Buildings and Improvements	7,946
Total Adjustment to Basis	(7,817)
Gross Amount at Which Carried At December 31, 2019	1,242
Accumulated Depreciation	194
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, 2019	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	196
Gross Amount at Which Carried At December 31, 2019	34,063
Accumulated Depreciation	4,928
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	(2,291)
Gross Amount at Which Carried At December 31, 2019	7,070
Accumulated Depreciation	0
Crosspoint: | Hagerstown, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	12,285
Buildings and Improvements	14,359
Total Adjustment to Basis	(1,024)
Gross Amount at Which Carried At December 31, 2019	25,620
Accumulated Depreciation	2,522
Crossroads Annex: | Lafayette, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,659
Buildings and Improvements	7,091
Total Adjustment to Basis	(8,750)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Crossroads Commons: | Plover, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,000
Buildings and Improvements	4,515
Total Adjustment to Basis	(5,515)
Gross Amount at Which Carried At December 31, 2019	0
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, 2019	4,410
Accumulated Depreciation	368
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, 2019	2,192
Accumulated Depreciation	220
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, 2019	4,551
Accumulated Depreciation	537
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, 2019	4,577
Accumulated Depreciation	460
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, 2019	3,117
Accumulated Depreciation	$ 423

Schedule III - Real Estate As_3

Schedule III - Real Estate Assets and Accumulated Depreciation - 2 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
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, 2019	4,418
Accumulated Depreciation	367
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, 2019	1,878
Accumulated Depreciation	205
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, 2019	4,097
Accumulated Depreciation	484
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, 2019	6,087
Accumulated Depreciation	722
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, 2019	3,586
Accumulated Depreciation	481
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, 2019	3,205
Accumulated Depreciation	501
CVS: | Danville, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	424
Buildings and Improvements	2,105
Total Adjustment to Basis	76
Gross Amount at Which Carried At December 31, 2019	2,605
Accumulated Depreciation	312
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, 2019	3,383
Accumulated Depreciation	385
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, 2019	3,002
Accumulated Depreciation	305
CVS: | Greenwood, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	912
Buildings and Improvements	3,549
Total Adjustment to Basis	61
Gross Amount at Which Carried At December 31, 2019	4,522
Accumulated Depreciation	580
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, 2019	4,746
Accumulated Depreciation	0
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, 2019	6,657
Accumulated Depreciation	558
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, 2019	4,548
Accumulated Depreciation	532
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, 2019	2,601
Accumulated Depreciation	349
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, 2019	3,594
Accumulated Depreciation	386
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, 2019	3,779
Accumulated Depreciation	562
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, 2019	3,281
Accumulated Depreciation	395
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, 2019	3,611
Accumulated Depreciation	374
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, 2019	5,548
Accumulated Depreciation	467
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, 2019	4,106
Accumulated Depreciation	431
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, 2019	6,148
Accumulated Depreciation	840
CVS: | North Wilkesboro, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	332
Buildings and Improvements	2,369
Total Adjustment to Basis	73
Gross Amount at Which Carried At December 31, 2019	2,774
Accumulated Depreciation	373
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, 2019	4,072
Accumulated Depreciation	345
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, 2019	5,807
Accumulated Depreciation	362
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, 2019	3,741
Accumulated Depreciation	291
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, 2019	4,048
Accumulated Depreciation	357
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, 2019	6,862
Accumulated Depreciation	706
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, 2019	2,784
Accumulated Depreciation	361
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, 2019	4,147
Accumulated Depreciation	404
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, 2019	4,806
Accumulated Depreciation	476
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, 2019	3,739
Accumulated Depreciation	469
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, 2019	3,694
Accumulated Depreciation	421
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, 2019	3,874
Accumulated Depreciation	334
Darien Towne Center: | Darien, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	6,718
Buildings and Improvements	11,951
Total Adjustment to Basis	915
Gross Amount at Which Carried At December 31, 2019	19,584
Accumulated Depreciation	2,713
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	861
Gross Amount at Which Carried At December 31, 2019	12,672
Accumulated Depreciation	1,773
Dick’s PetSmart Center: | Oshkosh, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,445
Buildings and Improvements	6,599
Total Adjustment to Basis	(1,667)
Gross Amount at Which Carried At December 31, 2019	6,377
Accumulated Depreciation	0
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, 2019	11,272
Accumulated Depreciation	2,077
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, 2019	1,211
Accumulated Depreciation	190
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, 2019	1,221
Accumulated Depreciation	148
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, 2019	1,527
Accumulated Depreciation	216
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, 2019	1,109
Accumulated Depreciation	162
Dollar General: | Houston, 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, 2019	1,648
Accumulated Depreciation	223
Dollar General: | Kansas City, 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, 2019	1,351
Accumulated Depreciation	178
Dollar General: | Kansas City, 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, 2019	1,287
Accumulated Depreciation	174
Dollar General: | Lamesa, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	75
Buildings and Improvements	803
Total Adjustment to Basis	(878)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	1,171
Accumulated Depreciation	133
Dollar General: | Leicester, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	134
Buildings and Improvements	800
Total Adjustment to Basis	(934)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	1,040
Accumulated Depreciation	123
Dollar General: | Mobile, 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, 2019	1,469
Accumulated Depreciation	190
Dollar General: | Nashville, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	103
Buildings and Improvements	1,255
Total Adjustment to Basis	(1,358)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	1,330
Accumulated Depreciation	164
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, 2019	1,053
Accumulated Depreciation	163
Dollar General: | Ravenna, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	199
Buildings and Improvements	958
Total Adjustment to Basis	(1,157)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	1,445
Accumulated Depreciation	174
Dollar General: | Russell, KS
Real Estate and Accumulated Depreciation [Line Items]
Land	54
Buildings and Improvements	899
Total Adjustment to Basis	(953)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Dollar General: | Shelby, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	128
Buildings and Improvements	1,033
Total Adjustment to Basis	(1,161)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	1,409
Accumulated Depreciation	183
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, 2019	1,139
Accumulated Depreciation	129
Dollar General: | St. Louis, MO
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, 2019	1,331
Accumulated Depreciation	178
Dollar General: | St. Louis, MO
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, 2019	1,358
Accumulated Depreciation	178
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, 2019	989
Accumulated Depreciation	$ 121

Schedule III - Real Estate As_4

Schedule III - Real Estate Assets and Accumulated Depreciation - 3 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
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	233
Gross Amount at Which Carried At December 31, 2019	15,422
Accumulated Depreciation	2,117
East West Commons: | Austell, GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	13,000
Land	10,094
Buildings and Improvements	16,034
Total Adjustment to Basis	3,943
Gross Amount at Which Carried At December 31, 2019	30,071
Accumulated Depreciation	2,822
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, 2019	9,062
Accumulated Depreciation	1,283
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, 2019	2,174
Accumulated Depreciation	230
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, 2019	1,244
Accumulated Depreciation	168
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, 2019	1,331
Accumulated Depreciation	136
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, 2019	997
Accumulated Depreciation	129
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, 2019	2,566
Accumulated Depreciation	265
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, 2019	1,134
Accumulated Depreciation	150
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, 2019	2,084
Accumulated Depreciation	251
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, 2019	1,766
Accumulated Depreciation	221
Family Dollar: | Ft. 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, 2019	1,804
Accumulated Depreciation	210
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, 2019	2,041
Accumulated Depreciation	241
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, 2019	1,926
Accumulated Depreciation	247
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, 2019	2,029
Accumulated Depreciation	236
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, 2019	1,031
Accumulated Depreciation	135
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, 2019	1,192
Accumulated Depreciation	167
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, 2019	1,395
Accumulated Depreciation	173
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, 2019	1,848
Accumulated Depreciation	178
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, 2019	1,305
Accumulated Depreciation	170
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, 2019	2,099
Accumulated Depreciation	254
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, 2019	1,290
Accumulated Depreciation	141
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, 2019	2,229
Accumulated Depreciation	221
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, 2019	1,245
Accumulated Depreciation	139
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, 2019	1,176
Accumulated Depreciation	129
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, 2019	2,194
Accumulated Depreciation	227
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, 2019	1,300
Accumulated Depreciation	125
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, 2019	1,536
Accumulated Depreciation	132
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, 2019	2,294
Accumulated Depreciation	233
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, 2019	2,112
Accumulated Depreciation	239
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, 2019	1,147
Accumulated Depreciation	129
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, 2019	2,019
Accumulated Depreciation	250
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, 2019	1,677
Accumulated Depreciation	238
Family Dollar: | Tampa, 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, 2019	1,300
Accumulated Depreciation	121
Family Dollar: | Tampa, 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, 2019	1,402
Accumulated Depreciation	149
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, 2019	1,726
Accumulated Depreciation	215
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, 2019	1,351
Accumulated Depreciation	$ 135

Schedule III - Real Estate As_5

Schedule III - Real Estate Assets and Accumulated Depreciation - 4 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
Chick-fil-A | Dickson City, PA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,113
Buildings and Improvements	7,946
Total Adjustment to Basis	(7,817)
Gross Amount at Which Carried At December 31, 2019	1,242
Accumulated Depreciation	194
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, 2019	805
Accumulated Depreciation	54
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, 2019	1,443
Accumulated Depreciation	163
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, 2019	6,654
Accumulated Depreciation	919
Fountain Square: | Brookfield, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	6,508
Buildings and Improvements	28,634
Total Adjustment to Basis	25
Gross Amount at Which Carried At December 31, 2019	35,167
Accumulated Depreciation	2,760
Fourth Creek Landing: | Statesville, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,375
Buildings and Improvements	7,795
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	9,170
Accumulated Depreciation	1,809
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, 2019	3,654
Accumulated Depreciation	439
Fresh Market Center: | Glen Ellyn, IL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,750
Land	2,767
Buildings and Improvements	6,403
Total Adjustment to Basis	(3,493)
Gross Amount at Which Carried At December 31, 2019	5,677
Accumulated Depreciation	26
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, 2019	7,106
Accumulated Depreciation	914
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, 2019	9,394
Accumulated Depreciation	877
Fresh Thyme & DSW: | Fort Wayne, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	1,740
Buildings and Improvements	4,153
Total Adjustment to Basis	612
Gross Amount at Which Carried At December 31, 2019	6,505
Accumulated Depreciation	693
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, 2019	15,233
Accumulated Depreciation	1,991
Harbor Town Center: | Manitowoc, WI
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,750
Land	3,568
Buildings and Improvements	13,209
Total Adjustment to Basis	(1,799)
Gross Amount at Which Carried At December 31, 2019	14,978
Accumulated Depreciation	436
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, 2019	2,003
Accumulated Depreciation	332
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	273
Gross Amount at Which Carried At December 31, 2019	11,690
Accumulated Depreciation	1,609
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	164
Gross Amount at Which Carried At December 31, 2019	17,820
Accumulated Depreciation	2,574
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, 2019	11,161
Accumulated Depreciation	1,511
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, 2019	12,276
Accumulated Depreciation	673
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	360
Gross Amount at Which Carried At December 31, 2019	14,575
Accumulated Depreciation	2,288
Home Depot: | Plainwell, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	521
Buildings and Improvements	11,905
Total Adjustment to Basis	(12,426)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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	(23,979)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Jewel-Osco | Plainfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	0
Buildings and Improvements	0
Total Adjustment to Basis	11,151
Gross Amount at Which Carried At December 31, 2019	11,151
Accumulated Depreciation	306
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, 2019	1,432
Accumulated Depreciation	178
Kohl’s: | Chartlottesville, 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, 2019	16,209
Accumulated Depreciation	1,739
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, 2019	5,623
Accumulated Depreciation	269
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, 2019	12,220
Accumulated Depreciation	1,830
Kroger: | Whitehall, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,066
Land	581
Buildings and Improvements	6,628
Total Adjustment to Basis	224
Gross Amount at Which Carried At December 31, 2019	7,433
Accumulated Depreciation	1,167
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, 2019	3,087
Accumulated Depreciation	363
LA 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, 2019	12,362
Accumulated Depreciation	1,857
LA 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, 2019	7,747
Accumulated Depreciation	873
LA 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, 2019	8,866
Accumulated Depreciation	1,086
LA 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, 2019	11,758
Accumulated Depreciation	1,002
LA 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, 2019	8,222
Accumulated Depreciation	660
LA 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, 2019	12,508
Accumulated Depreciation	1,708
Lafayette Pavilions: | Lafayette, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	7,632
Buildings and Improvements	42,497
Total Adjustment to Basis	(50,129)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	2,823
Accumulated Depreciation	317
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, 2019	2,838
Accumulated Depreciation	355
Logan’s Roadhouse: | Troy, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	992
Buildings and Improvements	1,577
Total Adjustment to Basis	(1,383)
Gross Amount at Which Carried At December 31, 2019	1,186
Accumulated Depreciation	67
Lord Salisbury Center: | Salisbury, MD
Real Estate and Accumulated Depreciation [Line Items]
Land	6,949
Buildings and Improvements	12,179
Total Adjustment to Basis	(19,128)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Lowe’s: | Adrian, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	2,604
Buildings and Improvements	5,036
Total Adjustment to Basis	30
Gross Amount at Which Carried At December 31, 2019	7,670
Accumulated Depreciation	1,098
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, 2019	18,012
Accumulated Depreciation	1,305
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, 2019	7,820
Accumulated Depreciation	1,005
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, 2019	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, 2019	11,046
Accumulated Depreciation	1,263
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, 2019	10,233
Accumulated Depreciation	0
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, 2019	18,582
Accumulated Depreciation	1,264
Lowe’s: | Mansfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	873
Buildings and Improvements	8,256
Total Adjustment to Basis	26
Gross Amount at Which Carried At December 31, 2019	9,155
Accumulated Depreciation	$ 1,262

Schedule III - Real Estate As_6

Schedule III - Real Estate Assets and Accumulated Depreciation - 5 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
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, 2019	16,267
Accumulated Depreciation	1,150
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, 2019	9,659
Accumulated Depreciation	1,564
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, 2019	9,703
Accumulated Depreciation	849
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, 2019	16,587
Accumulated Depreciation	1,213
Lowe’s: | Zanesville, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	2,161
Buildings and Improvements	8,375
Total Adjustment to Basis	297
Gross Amount at Which Carried At December 31, 2019	10,833
Accumulated Depreciation	1,392
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	(76,993)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Marketplace at the Lakes: | West Covina, CA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	10,020
Buildings and Improvements	8,664
Total Adjustment to Basis	(18,684)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Mattress Firm: | Ashtabula, OH
Real Estate and Accumulated Depreciation [Line Items]
Land	301
Buildings and Improvements	1,965
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	2,266
Accumulated Depreciation	215
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, 2019	3,240
Accumulated Depreciation	439
Mattress Firm & Five Guys: | Muskegon, MI
Real Estate and Accumulated Depreciation [Line Items]
Land	813
Buildings and Improvements	1,766
Total Adjustment to Basis	(284)
Gross Amount at Which Carried At December 31, 2019	2,295
Accumulated Depreciation	0
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, 2019	1,862
Accumulated Depreciation	165
McGowin Park: | Mobile, AL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	42,765
Land	2,243
Buildings and Improvements	69,357
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	71,600
Accumulated Depreciation	5,984
Melody Mountain: | Ashland, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,376
Land	1,286
Buildings and Improvements	9,879
Total Adjustment to Basis	(1,875)
Gross Amount at Which Carried At December 31, 2019	9,290
Accumulated Depreciation	0
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, 2019	2,512
Accumulated Depreciation	195
Mister Car Wash: | Athens, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	383
Buildings and Improvements	1,150
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,533
Accumulated Depreciation	76
Mister Car Wash: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	257
Buildings and Improvements	559
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	816
Accumulated Depreciation	40
Mister Car Wash: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	486
Buildings and Improvements	1,253
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,739
Accumulated Depreciation	95
Mister Car Wash: | Decatur, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	359
Buildings and Improvements	1,152
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,511
Accumulated Depreciation	86
Mister Car Wash: | Hartselle, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	360
Buildings and Improvements	569
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	929
Accumulated Depreciation	42
Mister Car Wash: | Madison, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	562
Buildings and Improvements	1,139
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,701
Accumulated Depreciation	88
Morganton Heights: | Morganton, NC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,800
Land	7,032
Buildings and Improvements	29,763
Total Adjustment to Basis	30
Gross Amount at Which Carried At December 31, 2019	36,825
Accumulated Depreciation	5,295
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, 2019	2,420
Accumulated Depreciation	352
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, 2019	3,134
Accumulated Depreciation	269
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, 2019	3,228
Accumulated Depreciation	285
National Tire & Battery: | Fort Worth, TX
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, 2019	2,170
Accumulated Depreciation	209
National Tire & Battery: | Fort Worth, TX
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, 2019	3,039
Accumulated Depreciation	268
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, 2019	2,452
Accumulated Depreciation	271
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, 2019	3,010
Accumulated Depreciation	452
National Tire & Battery: | North 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, 2019	3,092
Accumulated Depreciation	308
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, 2019	3,215
Accumulated Depreciation	279
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, 2019	3,056
Accumulated Depreciation	242
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, 2019	3,489
Accumulated Depreciation	260
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, 2019	3,067
Accumulated Depreciation	262
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, 2019	3,149
Accumulated Depreciation	361
Nordstrom Rack: | Tampa, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,880
Land	3,371
Buildings and Improvements	6,402
Total Adjustment to Basis	242
Gross Amount at Which Carried At December 31, 2019	10,015
Accumulated Depreciation	1,543
North Logan Commons: | Loganville, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	4,535
Buildings and Improvements	11,826
Total Adjustment to Basis	28
Gross Amount at Which Carried At December 31, 2019	16,389
Accumulated Depreciation	1,577
O’Reilly Auto Parts: | Clayton, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	501
Buildings and Improvements	945
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	1,446
Accumulated Depreciation	97
Owensboro Towne Center: | Owensboro, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,027
Land	3,807
Buildings and Improvements	16,259
Total Adjustment to Basis	788
Gross Amount at Which Carried At December 31, 2019	20,854
Accumulated Depreciation	1,968
Park Place: | Enterprise, AL
Real Estate and Accumulated Depreciation [Line Items]
Land	931
Buildings and Improvements	8,595
Total Adjustment to Basis	(9,526)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Parkway Centre South: | Grove City, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,250
Land	7,027
Buildings and Improvements	18,223
Total Adjustment to Basis	(2,843)
Gross Amount at Which Carried At December 31, 2019	22,407
Accumulated Depreciation	579
Pecanland Plaza: | Monroe, LA
Real Estate and Accumulated Depreciation [Line Items]
Land	2,206
Buildings and Improvements	18,957
Total Adjustment to Basis	(21,163)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	2,157
Accumulated Depreciation	356
PetSmart/Old Navy: | Reynoldsburg, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,658
Land	1,295
Buildings and Improvements	4,077
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	5,372
Accumulated Depreciation	859
Pick ’n Save: | Pewaukee, WI
Real Estate and Accumulated Depreciation [Line Items]
Land	1,323
Buildings and Improvements	6,761
Total Adjustment to Basis	257
Gross Amount at Which Carried At December 31, 2019	8,341
Accumulated Depreciation	1,101
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, 2019	12,698
Accumulated Depreciation	2,059
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, 2019	6,832
Accumulated Depreciation	908
Plainfield Plaza: | Plainfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	3,167
Buildings and Improvements	14,788
Total Adjustment to Basis	(2,385)
Gross Amount at Which Carried At December 31, 2019	15,570
Accumulated Depreciation	359
Plaza San Mateo: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,867
Buildings and Improvements	11,582
Total Adjustment to Basis	(4,018)
Gross Amount at Which Carried At December 31, 2019	10,431
Accumulated Depreciation	54
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, 2019	1,013
Accumulated Depreciation	98
Poplar Springs Plaza: | Duncan, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,000
Land	1,862
Buildings and Improvements	5,277
Total Adjustment to Basis	478
Gross Amount at Which Carried At December 31, 2019	7,617
Accumulated Depreciation	1,097
Raising Cane’s: | Phoenix, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	761
Buildings and Improvements	1,972
Total Adjustment to Basis	(2,733)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Rolling Acres Plaza: | Lady Lake, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,930
Land	7,540
Buildings and Improvements	26,839
Total Adjustment to Basis	(4,093)
Gross Amount at Which Carried At December 31, 2019	30,286
Accumulated Depreciation	644
Ross: | Fort Worth, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	0
Buildings and Improvements	0
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Rushmore Crossing: | Rapid City, SD
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,568
Land	7,066
Buildings and Improvements	33,019
Total Adjustment to Basis	(40,085)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Rushmore Crossing: | Rapid City, SD
Real Estate and Accumulated Depreciation [Line Items]
Land	883
Buildings and Improvements	4,128
Total Adjustment to Basis	(5,011)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	718
Accumulated Depreciation	81
Shippensburg Market Place: | Shippensburg, PA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,917
Buildings and Improvements	9,263
Total Adjustment to Basis	(3,530)
Gross Amount at Which Carried At December 31, 2019	7,650
Accumulated Depreciation	$ 0

Schedule III - Real Estate As_7

Schedule III - Real Estate Assets and Accumulated Depreciation - 6 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
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	(2,220)
Gross Amount at Which Carried At December 31, 2019	24,148
Accumulated Depreciation	576
Southwest Plaza: | Springfield, IL
Real Estate and Accumulated Depreciation [Line Items]
Land	2,992
Buildings and Improvements	48,935
Total Adjustment to Basis	(23,580)
Gross Amount at Which Carried At December 31, 2019	28,347
Accumulated Depreciation	564
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, 2019	1,560
Accumulated Depreciation	170
Springfield Commons: | Springfield, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,250
Land	3,745
Buildings and Improvements	15,049
Total Adjustment to Basis	187
Gross Amount at Which Carried At December 31, 2019	18,981
Accumulated Depreciation	2,088
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, 2019	8,437
Accumulated Depreciation	1,184
Stoneridge Village: | Jefferson City, MO
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,500
Land	1,830
Buildings and Improvements	9,351
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	11,181
Accumulated Depreciation	1,606
Summerfield Crossing: | Riverview, FL
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,310
Land	6,130
Buildings and Improvements	6,753
Total Adjustment to Basis	(1,159)
Gross Amount at Which Carried At December 31, 2019	11,724
Accumulated Depreciation	175
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, 2019	1,826
Accumulated Depreciation	357
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, 2019	3,717
Accumulated Depreciation	448
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, 2019	2,365
Accumulated Depreciation	286
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, 2019	2,487
Accumulated Depreciation	321
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, 2019	2,618
Accumulated Depreciation	358
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, 2019	3,160
Accumulated Depreciation	426
Sutters Creek: | Rocky Mount, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	1,458
Buildings and Improvements	2,616
Total Adjustment to Basis	283
Gross Amount at Which Carried At December 31, 2019	4,357
Accumulated Depreciation	517
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	(710)
Gross Amount at Which Carried At December 31, 2019	9,821
Accumulated Depreciation	187
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	(14,264)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	2,605
Accumulated Depreciation	205
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, 2019	2,654
Accumulated Depreciation	146
The Center at Hobbs Brook: | Sturbridge, MA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,500
Land	11,241
Buildings and Improvements	29,152
Total Adjustment to Basis	928
Gross Amount at Which Carried At December 31, 2019	41,321
Accumulated Depreciation	3,643
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	113
Gross Amount at Which Carried At December 31, 2019	19,090
Accumulated Depreciation	4,049
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	(32,758)
Gross Amount at Which Carried At December 31, 2019	20,772
Accumulated Depreciation	460
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, 2019	14,021
Accumulated Depreciation	2,294
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	450
Gross Amount at Which Carried At December 31, 2019	176,249
Accumulated Depreciation	21,309
The Ridge at Turtle Creek: | Hattiesburg, MS
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,900
Land	2,749
Buildings and Improvements	12,434
Total Adjustment to Basis	(3,482)
Gross Amount at Which Carried At December 31, 2019	11,701
Accumulated Depreciation	0
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, 2019	2,333
Accumulated Depreciation	191
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, 2019	2,441
Accumulated Depreciation	144
Tire Kingdom: | Tarpon Springs, FL
Real Estate and Accumulated Depreciation [Line Items]
Land	427
Buildings and Improvements	1,458
Total Adjustment to Basis	(1,885)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Tire Kingdom & Starbucks: | Mount Pleasant, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,400
Land	1,291
Buildings and Improvements	3,149
Total Adjustment to Basis	(502)
Gross Amount at Which Carried At December 31, 2019	3,938
Accumulated Depreciation	76
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, 2019	3,196
Accumulated Depreciation	438
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, 2019	2,722
Accumulated Depreciation	368
Tractor Supply: | Cambridge, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	807
Buildings and Improvements	1,272
Total Adjustment to Basis	28
Gross Amount at Which Carried At December 31, 2019	2,107
Accumulated Depreciation	298
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, 2019	3,124
Accumulated Depreciation	450
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, 2019	4,387
Accumulated Depreciation	572
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, 2019	2,618
Accumulated Depreciation	380
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, 2019	2,635
Accumulated Depreciation	189
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, 2019	2,364
Accumulated Depreciation	360
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, 2019	2,809
Accumulated Depreciation	386
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, 2019	4,005
Accumulated Depreciation	538
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, 2019	2,419
Accumulated Depreciation	346
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, 2019	4,905
Accumulated Depreciation	518
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, 2019	6,536
Accumulated Depreciation	641
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, 2019	4,535
Accumulated Depreciation	546
Turfway Crossing: | Florence, KY
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,480
Land	2,261
Buildings and Improvements	10,323
Total Adjustment to Basis	418
Gross Amount at Which Carried At December 31, 2019	13,002
Accumulated Depreciation	1,850
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, 2019	2,198
Accumulated Depreciation	266
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, 2019	2,631
Accumulated Depreciation	260
United Oil: | Bellflower, 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, 2019	2,034
Accumulated Depreciation	105
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, 2019	3,051
Accumulated Depreciation	87
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, 2019	2,101
Accumulated Depreciation	76
United Oil: | El Cajon, 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, 2019	1,593
Accumulated Depreciation	49
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, 2019	1,276
Accumulated Depreciation	68
United Oil: | Escondido, 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, 2019	4,576
Accumulated Depreciation	141
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, 2019	5,666
Accumulated Depreciation	106
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, 2019	2,687
Accumulated Depreciation	117
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, 2019	2,542
Accumulated Depreciation	76
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, 2019	2,324
Accumulated Depreciation	115
United Oil: | Long Beach, 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, 2019	3,661
Accumulated Depreciation	117
United Oil: | Los Angeles, 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, 2019	3,051
Accumulated Depreciation	95
United Oil: | Los Angeles, 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, 2019	4,794
Accumulated Depreciation	165
United Oil: | Los Angeles, 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, 2019	3,414
Accumulated Depreciation	$ 89

Schedule III - Real Estate As_8

Schedule III - Real Estate Assets and Accumulated Depreciation - 7 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
United Oil: | Los Angeles, 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, 2019	4,358
Accumulated Depreciation	57
United Oil: | Los Angeles, 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, 2019	3,411
Accumulated Depreciation	197
United Oil: | Los Angeles, 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, 2019	2,883
Accumulated Depreciation	93
United Oil: | Madera, CA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,500
Buildings and Improvements	3,804
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	5,304
Accumulated Depreciation	83
United Oil: | Norco, 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, 2019	3,341
Accumulated Depreciation	198
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, 2019	3,777
Accumulated Depreciation	94
United Oil: | San Diego, 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, 2019	4,425
Accumulated Depreciation	192
United Oil: | San Diego, 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, 2019	2,760
Accumulated Depreciation	117
United Oil: | San Diego, 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, 2019	2,206
Accumulated Depreciation	51
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, 2019	5,520
Accumulated Depreciation	97
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, 2019	2,557
Accumulated Depreciation	189
United Oil: | Vista, 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, 2019	2,397
Accumulated Depreciation	44
United Oil: | 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, 2019	2,446
Accumulated Depreciation	56
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, 2019	2,614
Accumulated Depreciation	131
University Marketplace: | Marion, IN
Real Estate and Accumulated Depreciation [Line Items]
Land	850
Buildings and Improvements	6,722
Total Adjustment to Basis	(1,993)
Gross Amount at Which Carried At December 31, 2019	5,579
Accumulated Depreciation	1,099
Urban Air Adventure Park: | 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, 2019	16,326
Accumulated Depreciation	1,728
Vacant: | 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, 2019	1,921
Accumulated Depreciation	128
Vacant: | Ballard, UT
Real Estate and Accumulated Depreciation [Line Items]
Land	334
Buildings and Improvements	2,865
Total Adjustment to Basis	(1,392)
Gross Amount at Which Carried At December 31, 2019	1,807
Accumulated Depreciation	10
Vacant: | Broken 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, 2019	1,977
Accumulated Depreciation	282
Vacant: | Cherokee, IA
Real Estate and Accumulated Depreciation [Line Items]
Land	217
Buildings and Improvements	3,326
Total Adjustment to Basis	(1,911)
Gross Amount at Which Carried At December 31, 2019	1,632
Accumulated Depreciation	9
Vacant: | Cokato, MN
Real Estate and Accumulated Depreciation [Line Items]
Land	358
Buildings and Improvements	3,229
Total Adjustment to Basis	(1,768)
Gross Amount at Which Carried At December 31, 2019	1,819
Accumulated Depreciation	0
Vacant: | Danville, VA
Real Estate and Accumulated Depreciation [Line Items]
Land	274
Buildings and Improvements	1,514
Total Adjustment to Basis	(1,062)
Gross Amount at Which Carried At December 31, 2019	726
Accumulated Depreciation	18
Vacant: | Georgetown, KY
Real Estate and Accumulated Depreciation [Line Items]
Land	1,048
Buildings and Improvements	1,452
Total Adjustment to Basis	(2,500)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Vacant: | Greenville, SC
Real Estate and Accumulated Depreciation [Line Items]
Land	672
Buildings and Improvements	1,737
Total Adjustment to Basis	(1,406)
Gross Amount at Which Carried At December 31, 2019	1,003
Accumulated Depreciation	39
Vacant: | Nampa, ID
Real Estate and Accumulated Depreciation [Line Items]
Land	449
Buildings and Improvements	2,213
Total Adjustment to Basis	(1,482)
Gross Amount at Which Carried At December 31, 2019	1,180
Accumulated Depreciation	6
Vacant: | St. Louis, MO
Real Estate and Accumulated Depreciation [Line Items]
Land	1,254
Buildings and Improvements	3,354
Total Adjustment to Basis	(4,608)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Vacant: | Valentine, NE
Real Estate and Accumulated Depreciation [Line Items]
Land	395
Buildings and Improvements	3,549
Total Adjustment to Basis	(2,403)
Gross Amount at Which Carried At December 31, 2019	1,541
Accumulated Depreciation	10
Ventura Place: | Albuquerque, NM
Real Estate and Accumulated Depreciation [Line Items]
Land	5,203
Buildings and Improvements	7,998
Total Adjustment to Basis	(5,065)
Gross Amount at Which Carried At December 31, 2019	8,136
Accumulated Depreciation	34
Village at Hereford Farms: | Grovetown, GA
Real Estate and Accumulated Depreciation [Line Items]
Land	1,222
Buildings and Improvements	5,912
Total Adjustment to Basis	(7,134)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
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, 2019	12,143
Accumulated Depreciation	1,007
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, 2019	11,238
Accumulated Depreciation	951
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, 2019	13,323
Accumulated Depreciation	2,051
Wal-Mart: | Summerville, SC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,300
Land	2,410
Buildings and Improvements	2,098
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	4,508
Accumulated Depreciation	252
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, 2019	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, 2019	13,323
Accumulated Depreciation	2,103
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, 2019	5,536
Accumulated Depreciation	857
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, 2019	4,810
Accumulated Depreciation	673
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, 2019	7,039
Accumulated Depreciation	648
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, 2019	4,977
Accumulated Depreciation	600
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, 2019	5,647
Accumulated Depreciation	569
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, 2019	5,573
Accumulated Depreciation	707
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, 2019	4,237
Accumulated Depreciation	604
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, 2019	5,341
Accumulated Depreciation	757
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	97
Gross Amount at Which Carried At December 31, 2019	4,485
Accumulated Depreciation	463
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, 2019	6,511
Accumulated Depreciation	847
Walgreens: | Las Vegas, NV
Real Estate and Accumulated Depreciation [Line Items]
Land	2,325
Buildings and Improvements	3,262
Total Adjustment to Basis	70
Gross Amount at Which Carried At December 31, 2019	5,657
Accumulated Depreciation	539
Walgreens: | Lawton, OK
Real Estate and Accumulated Depreciation [Line Items]
Land	860
Buildings and Improvements	2,539
Total Adjustment to Basis	106
Gross Amount at Which Carried At December 31, 2019	3,505
Accumulated Depreciation	426
Walgreens: | Little Rock, 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, 2019	5,224
Accumulated Depreciation	650
Walgreens: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	565
Buildings and Improvements	3,257
Total Adjustment to Basis	103
Gross Amount at Which Carried At December 31, 2019	3,925
Accumulated Depreciation	603
Walgreens: | Lubbock, TX
Real Estate and Accumulated Depreciation [Line Items]
Land	531
Buildings and Improvements	2,951
Total Adjustment to Basis	102
Gross Amount at Which Carried At December 31, 2019	3,584
Accumulated Depreciation	542
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, 2019	5,275
Accumulated Depreciation	673
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, 2019	4,764
Accumulated Depreciation	508
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, 2019	5,477
Accumulated Depreciation	848
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, 2019	2,993
Accumulated Depreciation	388
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, 2019	4,449
Accumulated Depreciation	710
Walgreens: | Suffolk, VA
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, 2019	4,722
Accumulated Depreciation	713
Walgreens: | Sun City, AZ
Real Estate and Accumulated Depreciation [Line Items]
Land	837
Buildings and Improvements	2,484
Total Adjustment to Basis	245
Gross Amount at Which Carried At December 31, 2019	3,566
Accumulated Depreciation	379
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, 2019	4,389
Accumulated Depreciation	501
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, 2019	8,721
Accumulated Depreciation	856
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, 2019	11,323
Accumulated Depreciation	1,473
Wallace Commons II: | Salisbury, NC
Real Estate and Accumulated Depreciation [Line Items]
Land	2,231
Buildings and Improvements	8,479
Total Adjustment to Basis	0
Gross Amount at Which Carried At December 31, 2019	10,710
Accumulated Depreciation	1,400
Warrenton Highlands: | Warrenton, OR
Real Estate and Accumulated Depreciation [Line Items]
Land	2,139
Buildings and Improvements	5,774
Total Adjustment to Basis	(7,913)
Gross Amount at Which Carried At December 31, 2019	0
Accumulated Depreciation	0
Waterford South Park: | Clarksville, IN
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,200
Land	2,946
Buildings and Improvements	8,564
Total Adjustment to Basis	45
Gross Amount at Which Carried At December 31, 2019	11,555
Accumulated Depreciation	1,828
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, 2019	1,433
Accumulated Depreciation	130
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, 2019	1,704
Accumulated Depreciation	160
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, 2019	2,895
Accumulated Depreciation	329
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, 2019	4,505
Accumulated Depreciation	$ 494

Schedule III - Real Estate As_9

Schedule III - Real Estate Assets and Accumulated Depreciation - 8 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 726,262
Land	796,835
Buildings and Improvements	2,172,782
Total Adjustment to Basis	(439,306)
Gross Amount at Which Carried At December 31, 2019	2,530,311	$ 4,444,041	$ 4,564,592	$ 4,370,629
Accumulated Depreciation	243,122	$ 385,245	$ 334,476	$ 245,425
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	(6,264)
Gross Amount at Which Carried At December 31, 2019	4,400
Accumulated Depreciation	50
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, 2019	4,809
Accumulated Depreciation	$ 557

Schedule III - Real Estate A_10

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	$ 4,444,041	$ 4,564,592	$ 4,370,629
Additions
Acquisitions	5,305	11,151	261,660
Joint Venture Purchased	0	0	0
Improvements	13,832	6,135	13,708
Adjustment to basis	0	0	0
Total additions	19,137	17,286	275,368
Less: Deductions
Cost of real estate sold	1,448,915	61,891	78,700
Adjustment to basis	0	0	0
Other (including provisions for impairment of real estate assets)	483,952	75,946	2,705
Total deductions	1,932,867	137,837	81,405
Balance, end of period	2,530,311	4,444,041	4,564,592
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	385,245	334,476	245,425
Additions
Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired	73,790	92,998	93,170
Improvements - Depreciation expense for tenant improvements and building equipment	2,352	2,481	1,679
Total additions	76,142	95,479	94,849
Deductions
Cost of real estate sold	144,820	6,901	5,552
Other (including provisions for impairment of real estate assets)	73,445	37,809	246
Total deductions	218,265	44,710	5,798
Balance, end of period	243,122	385,245	$ 334,476
Property, plant and equipment, land and real estate assets, net tax basis	3,100,000
Gross intangible lease assets	$ 313,127	$ 554,868
Building
Deductions
Acquired real estate asset, useful life	40 years
Tenant Improvements
Deductions
Acquired real estate asset, useful life	15 years
Retail Property
Deductions
Number of properties owned | property	334
Anchored Shopping Center
Deductions
Number of properties owned | property	59
Industrial Property
Deductions
Number of properties owned | property	3
JPMorgan Chase Bank, N.A. | Line of Credit
Deductions
Long-term line of credit	$ 885,000
Intangible lease assets
Deductions
Gross intangible lease assets	313,100
Accumulated amortization of intangible lease assets	$ 131,000

Schedule IV - Mortgage Loans _2

Schedule IV - Mortgage Loans Held On Real Estate Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	$ 297,357
Carrying Amount of Mortgages	298,880	$ 89,762	$ 0
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Astor — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	36,334
Carrying Amount of Mortgages	37,153
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
88 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	23,401
Carrying Amount of Mortgages	24,033
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
90 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	14,475
Carrying Amount of Mortgages	14,854
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Metro — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	9,505
Carrying Amount of Mortgages	9,934
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Astor — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	23,288
Carrying Amount of Mortgages	23,566
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
88 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	17,575
Carrying Amount of Mortgages	17,780
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
90 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	10,571
Carrying Amount of Mortgages	10,695
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Metro — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	7,954
Carrying Amount of Mortgages	8,046
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Lucero — Austin, Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	40,079
Carrying Amount of Mortgages	39,759
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Satellite Place — Duluth, Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	44,675
Carrying Amount of Mortgages	44,080
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Yoo on the Park — Atlanta, Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of Mortgages	69,500
Carrying Amount of Mortgages	68,980
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
One-Month LIBOR | Astor — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	13.85%
One-Month LIBOR | 88 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	13.85%
One-Month LIBOR | 90 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	13.85%
One-Month LIBOR | Metro — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	13.85%
One-Month LIBOR | Astor — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	0.70%
One-Month LIBOR | 88 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	0.70%
One-Month LIBOR | 90 Lex — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	0.70%
One-Month LIBOR | Metro — New York, New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	0.70%
One-Month LIBOR | Lucero — Austin, Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	3.50%
One-Month LIBOR | Satellite Place — Duluth, Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	3.50%
One-Month LIBOR | Yoo on the Park — Atlanta, Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Basis spread on interest rate	3.50%

Schedule IV - Mortgage Loans _3

Schedule IV - Mortgage Loans Held On Real Estate Schedule IV - Movement in Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning of period	$ 89,762	$ 0
Additions during period:
New loans	217,014	89,295
Capitalized interest	8,546	384
Accretion of fees and other items	2,441	268
Total additions	228,001	89,947
Less: Deductions during period:
Collections of principal	(17,186)	0
Deferred fees and other items	(1,697)	(185)
Total deductions	(18,883)	(185)
Balance, end of period	$ 298,880	$ 89,762

Uncategorized Items - cmft-2019

Label	Element	Value
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 488,000
Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (488,000)