Global Net Lease (GNL) 10-K 29 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Feb. 12, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Global Net Lease, Inc.
Entity Central Index Key	1,526,113
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Shares, Shares Outstanding		168,936,633
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1.5

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate investments, at cost:
Land	$ 341,911	$ 326,696
Buildings, fixtures and improvements	1,685,919	1,519,558
Construction in progress	180	9,706
Acquired intangible lease assets	518,294	484,079
Total real estate investments, at cost	2,546,304	2,340,039
Less accumulated depreciation and amortization	(133,329)	(42,568)
Total real estate investments, net	2,412,975	2,297,471
Cash and cash equivalents	69,938	64,684
Restricted cash	3,319	6,104
Derivatives, at fair value	5,812	13,638
Investment securities, at fair value	0	490
Prepaid expenses and other assets	38,393	24,873
Due from affiliates	136	500
Deferred tax assets	2,552	2,102
Goodwill and other intangible assets, net	2,988	3,665
Deferred financing costs, net	11,855	15,270
Total assets	2,547,968	2,428,797
LIABILITIES AND EQUITY
Mortgage notes payable	531,708	281,186
Mortgage premium, net	676	1,165
Credit facility	717,286	659,268
Below-market lease liabilities, net	27,978	21,676
Due to affiliates	399	400
Accounts payable and accrued expenses	18,659	14,791
Prepaid rent	15,491	12,252
Taxes payable	5,201	901
Deferred tax liability	4,016	3,665
Dividends payable	407	10,709
Total liabilities	$ 1,327,849	$ 1,012,128
Commitments and contingencies
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at December 31, 2015 and December 31, 2014	$ 0	$ 0
Common stock, $0.01 par value, 300,000,000 shares authorized, 168,936,633 and 177,933,175 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively	1,692	1,782
Additional paid-in capital	1,480,162	1,575,592
Accumulated other comprehensive loss	(3,649)	(5,589)
Accumulated deficit	(272,812)	(155,116)
Total stockholders' equity	1,205,393	1,416,669
Non-controlling interest	14,726	0
Total equity	1,220,119	1,416,669
Total liabilities and equity	2,547,968	2,428,797
Other Contract
LIABILITIES AND EQUITY
Derivatives, at fair value	6,028	6,115
Listing Note
LIABILITIES AND EQUITY
Derivatives, at fair value	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	168,936,633	177,933,175
Common stock, outstanding (in shares)	168,936,633	177,933,175

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Rental income	$ 194,620	$ 88,158	$ 3,900
Operating expense reimbursements	10,712	5,225	51
Total revenues	205,332	93,383	3,951
Expenses:
Property operating	18,180	7,947	42
Operating fees to affiliates	15,167	797	50
Acquisition and transaction related	6,053	83,498	7,745
Listing fees	18,653	0	0
Vesting of Class B units	14,480	0	0
Change in fair value of listing note	0	0	0
General and administrative	7,175	4,314	58
Equity based compensation	2,345	0	0
Depreciation and amortization	90,070	40,387	2,112
Total expenses	172,123	136,943	10,007
Operating loss	33,209	(43,560)	(6,056)
Interest expense	(34,864)	(14,852)	(969)
Income from investments	15	14	0
(Losses) gains on foreign currency	0	(186)	35
Realized losses on investment securities	(66)	0	0
Gains on derivative instruments	3,935	1,881	0
Gains on hedges and derivatives deemed ineffective	5,124	1,387	0
Unrealized losses on non-functional foreign currency advances not designated as net investment hedges	(3,558)	0	0
Other income	79	291	1
Total other expense, net	(29,335)	(11,465)	(933)
Net income (loss) before income taxes	3,874	(55,025)	(6,989)
Income taxes (expense) benefit	(5,889)	1,431	0
Net loss	(2,015)	(53,594)	(6,989)
Non-controlling interest	(50)	0	0
Net loss	$ (2,065)	$ (53,594)	$ (6,989)
Basic and diluted net loss per share (usd per share)	$ (0.01)	$ (0.43)	$ (1.28)
Basic and diluted weighted average shares outstanding (in shares)	174,309,894	126,079,369	5,453,404

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,015)	$ (53,594)	$ (6,989)
Cumulative translation adjustment	(5,169)	(11,990)	2,140
Designated derivatives, fair value adjustments	6,982	6,082	(1,778)
Other comprehensive income (loss)	1,813	(5,908)	362
Comprehensive loss	(202)	(59,502)	(6,627)
Net income	50	0	0
Cumulative translation adjustment	(197)	0	0
Designated derivatives, fair value adjustments	70	0	0
Comprehensive loss attributable to non-controlling interest	(77)	0	0
Comprehensive loss attributable to stockholders	$ (279)	$ (59,502)	$ (6,627)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total Stockholders' Equity	Non-controlling interest
Beginning balance (in shares) at Dec. 31, 2012		256,500
Beginning balance at Dec. 31, 2012	$ (796)	$ 3	$ (311)	$ (43)	$ (445)	$ (796)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		15,261,350
Issuance of common stock	150,637	$ 153	150,484			150,637
Common stock offering costs, commissions and dealer manager fees	(17,924)		(17,924)			(17,924)
Common stock issued through distribution reinvestment plan (in shares)		138,977
Common stock issued through dividend reinvestment plan	1,320	$ 1	1,319			1,320
Share-based compensation (in shares)		9,000
Share-based compensation	24		24			24
Distributions declared	(3,914)				(3,914)	(3,914)
Net loss	(6,989)				(6,989)	(6,989)
Other comprehensive income (loss)	362			362		362
Designated derivatives, fair value adjustments	(1,778)
Ending balance (in shares) at Dec. 31, 2013		15,665,827
Ending balance at Dec. 31, 2013	122,720	$ 157	133,592	319	(11,348)	122,720	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		157,635,481
Issuance of common stock	1,567,317	$ 1,579	1,565,738			1,567,317
Common stock offering costs, commissions and dealer manager fees	(167,693)		(167,693)			(167,693)
Common stock issued through distribution reinvestment plan (in shares)		4,721,780
Common stock issued through dividend reinvestment plan	44,886	$ 47	44,839			44,886
Common stock repurchases	(991)	$ (1)	(990)			(991)
Share-based compensation (in shares)		10,056
Share-based compensation	10		10			10
Amortization of restricted shares	96		96			96
Distributions declared	(90,174)				(90,174)	(90,174)
Net loss	(53,594)				(53,594)	(53,594)
Cumulative translation adjustment	(11,990)			(11,990)		(11,990)
Other comprehensive income (loss)	(5,908)
Designated derivatives, fair value adjustments	6,082			6,082		6,082
Ending balance (in shares) at Dec. 31, 2014		177,933,175
Ending balance at Dec. 31, 2014	1,416,669	$ 1,782	1,575,592	(5,589)	(155,116)	1,416,669	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		37,407
Issuance of common stock	420		420			420
Common stock offering costs, commissions and dealer manager fees	49		49			49
Common stock issued through distribution reinvestment plan (in shares)		3,005,936
Common stock issued through dividend reinvestment plan	28,578	$ 30	28,548			28,578
Common stock repurchases (in shares)		(12,039,885)
Common stock repurchases	(126,322)	$ (120)	(126,202)			(126,322)
Distributions declared	(115,631)				(115,631)	(115,631)
Issuance of operating partnership units	750						750
Vesting of Class B units	14,480						14,480
Equity-based compensation	2,345		181			181	2,164
Distributions to non-controlling interest holders	(1,017)						(1,017)
Net loss	(2,015)				(2,065)	(2,065)	50
Cumulative translation adjustment	(5,169)			(4,972)		(4,972)	(197)
Other comprehensive income (loss)	1,813
Designated derivatives, fair value adjustments	6,982			6,912		6,912	70
Rebalancing of ownership percentage			1,574			1,574	(1,574)
Ending balance (in shares) at Dec. 31, 2015		168,936,633
Ending balance at Dec. 31, 2015	$ 1,220,119	$ 1,692	$ 1,480,162	$ (3,649)	$ (272,812)	$ 1,205,393	$ 14,726

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (2,015)	$ (53,594)	$ (6,989)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	47,649	20,856	837
Amortization of intangibles	42,421	19,531	1,275
Amortization of deferred financing costs	8,527	3,753	250
Amortization of mortgage premium	(489)	(498)	(1)
Amortization of below-market lease liabilities	(2,134)	(1,085)	(29)
Amortization of above-market lease assets	2,315	1,085	0
Amortization of above- and below- market ground lease assets	71	32	0
Unbilled straight line rent	(14,809)	(8,679)	(172)
Vesting of Class B units	14,480	0	0
Equity based compensation	2,345	106	24
Net realized and unrealized marked-to-market transactions	(8,903)	(3,272)	0
Change in fair value of listing note	0	0	0
Loss on sale of investment in securities	66	0	0
Changes in assets and liabilities:
Prepaid expenses and other assets	31	(11,965)	(1,647)
Deferred tax assets	(450)	(2,102)	0
Accounts payable and accrued expenses	4,859	11,183	1,888
Deferred rent	3,239	10,390	917
Deferred tax liability	(249)	3,665	0
Taxes payable	5,201	901	0
Net cash used in operating activities	102,155	(9,693)	(3,647)
Cash flows from investing activities:
Investment in real estate and other assets	(223,075)	(1,507,072)	(110,026)
Deposits for real estate acquisitions	773	(775)	(1,474)
Proceeds from termination of derivatives	10,055	0	0
Capital expenditures	(10,495)	(8,838)	0
Purchase of investment securities	0	(490)	0
Proceeds from redemption of investment securities	463	0	0
Net cash used in investing activities	(222,279)	(1,517,175)	(111,500)
Cash flows from financing activities:
Borrowings under credit facility	476,208	258,500	0
Repayments on credit facility	(373,167)	(18,500)	0
Proceeds from notes payable	0	12,505	0
Payments on notes payable	0	(12,505)	0
Proceeds from mortgage notes payable	245,483	0	0
Payments on mortgage notes payable	(721)	(135)	0
Proceeds from issuance of common stock	420	1,569,082	148,871
Proceeds from issuance of operating partnership units	750	0	0
Payments of offering costs	49	(168,270)	(18,770)
Payments of deferred financing costs	(4,881)	(16,888)	(2,345)
Dividends paid	(97,730)	(35,415)	(1,769)
Distributions to non-controlling interest holders	(642)	0	0
Payments on common stock repurchases, inclusive of fees	(2,313)	0	0
Payments on share repurchases related to Tender Offer	(125,000)	0	0
Advances from affiliates, net	363	(100)	(1,041)
Restricted cash	2,785	(5,367)	(737)
Net cash provided by financing activities	121,604	1,582,907	124,209
Net change in cash and cash equivalents	1,480	56,039	9,062
Effect of exchange rate on cash	3,774	(2,855)	2,176
Cash and cash equivalents, beginning of period	64,684	11,500	262
Cash and cash equivalents, end of period	69,938	64,684	11,500
Supplemental Disclosures:
Cash paid for interest	24,625	6,540	218
Cash paid for income taxes	1,589	0	0
Non-Cash Investing and Financing Activities:
Mortgage notes payable assumed or used to acquire investments in real estate	31,933	217,791	75,651
Premium on mortgage note payable	0	0	1,664
Borrowings under line of credit to acquire real estate	0	446,558	0
Common stock issued through dividend reinvestment plan	$ 28,578	$ 44,886	$ 1,320

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Global Net Lease, Inc. (the "Company"), formerly known as American Realty Capital Global Trust, Inc., incorporated on July 13, 2011, is a Maryland corporation that elected and qualified to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes beginning with our taxable year ended December 31, 2013. The Company was formed to primarily acquire a diversified portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant net-leased commercial properties. The Company may also originate or acquire first mortgage loans secured by real estate. Based on original purchase price, 60.4% of our properties are located in the U.S. and the Commonwealth of Puerto Rico and 39.6% are in Europe. As of December 31, 2015 , we have not invested in any bridge loans, mezzanine loans, preferred equity or securitized loans. On June 30, 2014 , the Company completed its initial public offering ("IPO") after selling 172.3 million shares of common stock, 0.01 par value per share ("Common Stock"), at a price of 10.00 per share, subject to certain volume and other discounts. In addition, the Company issued an additional 1.1 million shares pursuant to its dividend reinvestment plan (the "DRIP"). On April 7, 2015 , in anticipation of the listing of the Common Stock (the "Listing") on the New York Stock Exchange (the "NYSE"), the Company announced the suspension of the DRIP. On May 7, 2015, the Company filed a post-effective amendment to its Registration statement on Form S-11 (File No. 001-37390) (as amended, the "Registration Statement") to deregister the unsold shares registered under the Registration Statement. The Company operated as a non-traded REIT through June 1, 2015 . On June 2, 2015 (the "Listing Date"), the Company listed its Common Stock on the NYSE under the symbol "GNL". In connection with the Listing, the Company offered to purchase up to 11.9 million shares of its Common Stock at a price of $10.50 per share (the “Tender Offer”). As a result of the Tender Offer, on July 6, 2015 , the Company purchased approximately 11.9 million shares of its Common Stock at a price of $10.50 per share, for an aggregate amount of $125.0 million , excluding fees and expenses relating to the Tender Offer and including fractional shares repurchased thereafter. As of December 31, 2015 , the Company owned 329 properties (all references to number of properties and square footage are unaudited) consisting of 18.7 million rentable square feet, which were 100% leased, with a weighted average remaining lease term of 11.3 years. Substantially all of the Company's business is conducted through Global Net Lease Operating Partnership, L.P. (the "OP"), a Delaware limited partnership. As of December 31, 2015 , the OP had issued 1,809,678 units of limited partner interests ("OP Units") to limited partners other than the Company, of which 1,461,753 OP Units were issued to Global Net Lease Advisors, LLC (the "Advisor"), 347,903 OP Units were issued to Moor Park Capital Partners LLP (the "Service Provider"), and 22 OP Units were issued to Global Net Lease Special Limited Partner, LLC (the "Special Limited Partner") (see Note 11 — Related Party Transactions). In accordance with the limited partnership agreement of the OP, a holder of OP Units has the right to convert OP Units for a corresponding number of shares of the Company's Common Stock or the cash value of those corresponding shares, at the Company's option. The remaining rights of the limited partner interests are limited and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets. The Company has no direct employees. The Company has retained the Advisor to manage the Company's affairs on a day-to-day basis. The properties are managed and leased by Global Net Lease Properties, LLC (the "Property Manager"). The Advisor, Property Manager and Special Limited Partner are under common control with the parent of AR Capital Global Holdings, LLC (the "Sponsor"), as a result of which they are related parties. These related parties receive compensation and fees for various services provided to the Company. The Advisor has entered into a service provider agreement with the Service Provider, pursuant to which the Service Provider provides, subject to the Advisor's oversight, certain real estate related services, as well as sourcing and structuring of investment opportunities, performance of due diligence, and arranging debt financing and equity investment syndicates, solely with respect to investments in Europe. Realty Capital Securities, (the "Former Dealer Manager") served as the dealer manager of the IPO, which was ongoing from October 2012 to June 2014 and, together with its affiliates, continued to provide the Company with various services through December 31, 2015 . RCS Capital Corporation, the parent company of the Former Dealer Manager and certain of its affiliates that provided services to the Company, filed for Chapter 11 bankruptcy protection in January 2016, prior to which it was also under common control with AR Global, the parent of the Sponsor.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Accounting The accompanying consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary. As of December 31, 2015 , the Company does not have any investments in variable interest entities ("VIE"). 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, real estate taxes, income taxes, derivative financial instruments, hedging activities, equity-based compensation expenses related to a Multi-Year Outperformance Agreement (the “OPP”) and fair value measurements, as applicable. Offering and Related Costs Offering and related costs include all expenses incurred in connection with the Company's IPO. Offering costs (other than selling commissions and the Former Dealer Manager fees) include costs have been paid by the Advisor, the Former Dealer Manager or their affiliates on the Company's behalf. These costs include but are not limited to (i) legal, accounting, printing, mailing, and filing fees; (ii) escrow service related fees; (iii) reimbursement of the Former Dealer Manager for amounts it may pay to reimburse the bona fide diligence expenses of broker-dealers; and (iv) reimbursement to the Advisor for a portion of the costs of its employees and other costs in connection with preparing supplemental sales materials and related offering activities. The Company is obligated to reimburse the Advisor or its affiliates, as applicable, for organization and offering costs paid by them on the Company's behalf, provided that the Advisor is obligated to reimburse us to the extent organization and offering costs (excluding selling commissions and the Former Dealer Manager fee) incurred by the Company in its offering exceed 1.5% of gross offering proceeds in the IPO. As a result, these costs are only our liability to the extent aggregate selling commissions, the dealer manager fee and other organization and offering costs do not exceed 11.5% of the gross proceeds determined at the end of the IPO. Revenue Recognition The Company's revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. Because many of the Company's leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. As of December 31, 2015 and 2014 , the Company included unbilled cumulative straight line rents receivable in Prepaid expenses and other assets in the consolidated balance sheets of $23.1 million and $8.7 million , respectively. As of December 31, 2015 and 2014 , the Company’s rental revenue included impacts of unbilled rental revenue of $14.5 million and $8.5 million , respectively, to adjust contractual rent to straight line rent. The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company records an increase in the Company's allowance for uncollectible accounts or records a direct write-off of the receivable in the Company's consolidated statements of operations. Cost recoveries from tenants are included in operating expense reimbursement in the period the related costs are incurred, as applicable. Investments in Real Estate Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. The Company evaluates the inputs, processes and outputs of each asset acquired to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statements of operations. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and subsequently amortized over the useful life of the acquired assets. In business combinations, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities and non-controlling interests based on their respective fair values. Tangible assets may include land, land improvements, buildings, fixtures and tenant improvements. Intangible assets or liabilities may include the value of in-place leases, above- and below- market leases and other identifiable assets or liabilities based on lease or property specific characteristics. In addition, any assumed mortgages receivable or payable and any assumed or issued non-controlling interests are recorded at their estimated fair values. In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above or below-market interest rates. Disposal of real estate investments that represent a strategic shift in operations that will have a major effect on the Company's operations and financial results are required to be presented as discontinued operations in the consolidated statements of operations. Properties that are intended to be sold are to be designated as “held for sale” on the consolidated balance sheets at the lesser of carrying amount or fair value less estimated selling costs when they meet specific criteria to be presented as held for sale. Properties are no longer depreciated when they are classified as held for sale. The Company didn't have any properties held for sale as of December 31, 2015 and 2014 . The Company evaluates the lease accounting for each new property acquired with existing or new lease and reviews for any capital lease criteria. A lease is classified by a tenant as a capital lease if the significant risks and rewards of ownership are considered to reside with the tenant. This situation is generally considered to be met if, among other things, the non-cancelable lease term is more than 75% of the useful life of the asset or if the present value of the minimum lease payments equals 90% or more of the leased property’s fair value at lease inception. Depreciation and Amortization Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and improvements and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. Capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. Capitalized below-market lease values are amortized as an increase to rental income over the remaining terms of the respective leases and expected below-market renewal option periods. Capitalized above-market ground lease values are amortized as a reduction of property operating expense over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property operating expense over the remaining terms of the respective leases and expected below-market renewal option periods. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to expense over the remaining periods of the respective leases. Assumed mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining terms of the respective mortgages. Impairment of Long Lived Assets When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income (loss). Purchase Price Allocation The Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their respective fair values. Tangible assets include land, land improvements, buildings, fixtures and tenant improvements on an as-if vacant basis. The Company utilizes various estimates, processes and information to determine the as-if vacant property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and fixtures are based on cost segregation studies performed by independent third parties or on the Company's analysis of comparable properties in the Company's portfolio. Identifiable intangible assets include amounts allocated to acquire leases for above- and below-market lease rates, the value of in-place leases, and the value of customer relationships, as applicable. Factors considered in the analysis of the in-place lease intangibles include an estimate of carrying costs during the expected lease-up period for each property, taking into account current market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at contract rates during the expected lease-up period, which typically ranges from 12 to 18 months . The Company also estimates costs to execute similar leases including leasing commissions, legal and other related expenses. Above-market and below-market lease values for acquired properties are initially recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the remaining initial term plus the term of any below-market fixed rate renewal options for below-market leases. The capitalized above-market lease values are amortized as a reduction of base rental revenue over the remaining terms of the respective leases, and the capitalized below-market lease values are amortized as an increase to base rental revenue over the remaining initial terms plus the terms of any below-market fixed rate renewal options of the respective leases. If a tenant with a below market rent renewal does not renew, any remaining unamortized amount will be taken into income at that time. The aggregate value of intangible assets related to customer relationship, as applicable, is measured based on the Company's evaluation of the specific characteristics of each tenant’s lease and the Company's overall relationship with the tenant. Characteristics considered by the Company in determining these values include the nature and extent of its existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals, among other factors. The value of customer relationship intangibles is amortized to expense over the initial term and any renewal periods in the respective leases, but in no event does the amortization period for intangible assets exceed the remaining depreciable life of the building. If a tenant terminates its lease, the unamortized portion of the in-place lease value and customer relationship intangibles is charged to expense. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company's pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. Intangible assets and acquired lease liabilities consist of following: December 31, (In thousands) 2015 2014 Intangible assets: In-place leases, net of accumulated amortization of $61,857 and $20,131 at December 31, 2015 and 2014, respectively $ 426,434 $ 435,684 Above-market leases, net of accumulated amortization of $3,279 and $1,086 at December 31, 2015 and 2014, respectively 22,322 26,329 Below-market ground leases, net of accumulated amortization of $115 and $32 at December 31, 2015, and 2014, respectively 4,287 817 Total intangible lease assets, net $ 453,043 $ 462,830 Intangible liabilities: Below-market leases, net of accumulated amortization of $3,296 and $1,211 at December 31, 2015 and 2014, respectively $ 25,984 $ 21,676 Above-market ground leases, net of accumulated amortization of $15 and $0 at December 31, 2015 and 2014, respectively 1,994 $ — Total intangible lease liabilities, net $ 27,978 $ 21,676 The following table provides the weighted-average amortization periods as of December 31, 2015 for intangible assets and liabilities and the projected amortization expense and adjustments to revenues and property operating expense for the next five calendar years: (In thousands) Weighted-Average Amortization Years 2016 2017 2018 2019 2020 In-place leases 10.4 $ 44,665 $ 44,665 $ 44,665 $ 44,665 $ 44,505 Total to be included in depreciation and amortization $ 44,665 $ 44,665 $ 44,665 $ 44,665 $ 44,505 Above-market lease assets 10.5 $ 2,271 $ 2,271 $ 2,271 $ 2,271 $ 2,271 Below-market lease liabilities 11.5 (2,527 ) (2,527 ) (2,527 ) (2,527 ) (2,502 ) Total to be included in rental income $ (256 ) $ (256 ) $ (256 ) $ (256 ) $ (231 ) Below-market ground lease assets 29.2 $ 195 $ 195 $ 195 $ 195 $ 195 Above-market ground lease liabilities 33.7 (59 ) (59 ) (59 ) (59 ) (59 ) Total to be included in property operating expense $ 136 $ 136 $ 136 $ 136 $ 136 Goodwill We evaluate goodwill for possible impairment at least annually or upon the occurrence of a triggering event. A triggering event is an event or circumstance that would more likely than not reduce the fair value of a reporting unit below its carrying amount. We performed a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. Based on our assessment we determined that the goodwill is not impaired as of December 31, 2015 and no further analysis is required. Cash and Cash Equivalents Cash and cash equivalents includes cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less. The Company deposits cash with high quality financial institutions. Deposits in the United States and other countries where we have deposits are guaranteed by the Federal Deposit Insurance Company ("FDIC") in the United States, Financial Services Compensation Scheme ("FSCS") in the United Kingdom, Duchy Deposit Guarantee Scheme ("DDGS") in Luxembourg and by similar agencies in the other countries, up to insurance limits. The Company had deposits in the United States, United Kingdom, Luxembourg, Germany, Finland and The Netherlands totaling $69.9 million at December 31, 2015 , of which $40.3 million , $11.4 million and $11.7 million are currently in excess of amounts insured by the FDIC, FSCS and European equivalent deposit insurance companies including DDGS, respectively. At December 31, 2014 , the Company had deposits in the United States, United Kingdom, Luxembourg, Germany, Finland and The Netherlands totaling $64.7 million , of which $37.8 million , $13.5 million and $7.1 million were in excess of the amount insured by the FDIC, FSCS and European equivalent deposit insurance companies including DDGS, respectively. Although the Company bears risk to amounts in excess of those insured, it does not anticipate any losses as a result. Restricted Cash Restricted cash primarily consists of debt service and real estate tax reserves. The Company had restricted cash of $3.3 million and $6.1 million as of December 31, 2015 and 2014 , respectively. Deferred Costs, Net Deferred costs, net consists of deferred financing costs. Deferred financing costs represent commitment fees, legal fees, and other costs associated with obtaining commitments for financing. These costs are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close. Share Repurchase Program Prior to April 7, 2015 , the Company had in place a Share Repurchase Program ("SRP), providing for limited repurchases of the Company's Common Stock. On April 7, 2015 , the Company's board of directors approved the termination of the Company’s SRP. The Company accounts for the purchase of capital stock under a method that is consistent with Maryland law (the state of Company's domicile), which does not contemplate treasury stock. Any capital stock reacquired for any purpose is recorded as a reduction of common stock (at $0.01 par value per share) and an increase in accumulated deficit. Dividend Reinvestment Plan Prior to April 7, 2015 , the Company had in place a DRIP, providing for reinvestment of dividends in the Company's Common Stock. On April 7, 2015 , the Company suspended the DRIP. The final issuance of shares of Common Stock pursuant to the DRIP was made in May 2015 in connection with the Company's April 2015 dividend. Shares issued under the DRIP were recorded to equity in the accompanying consolidated balance sheets in the period dividends were declared. Derivative Instruments The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. Certain of the Company's foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value of the Company's cash receipts and payments in the Company's functional currency, the U.S. dollar. The Company enters into derivative financial instruments to protect the value or fix the amount of certain obligations in terms of its functional currency. The Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designed and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any changes in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the consolidated statements of operations. If the derivative is designated and qualifies for hedge accounting treatment the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income (loss) to the extent that it is effective. Any ineffective portion of a derivative's change in fair value will be immediately recognized in earnings. Share-Based Compensation The Company has a stock-based incentive award plan for its directors, which is accounted for under the guidance for employee share based payments. The cost of services received in exchange for a stock award is measured at the grant date fair value of the award and the expense for such awards is included in equity based compensation on consolidated statements of operations and is recognized over the vesting period or when the requirements for exercise of the award have been met (see Note 13 — Share-Based Compensation). Income Taxes The Company qualified to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"), beginning with the taxable year ended December 31, 2013. Commencing with such taxable year, the Company was organized to operate in such a manner as to qualify for taxation as a REIT under the Code. The Company intends to continue to operate in such a manner to continue to qualify for taxation as a REIT, but no assurance can be given that it will operate in a manner so as to remain qualified as a REIT. As a REIT, the Company generally will not be subject to federal corporate income tax to the extent it distributes at least 90% of its REIT taxable income to its stockholders. REIT's are subject to a number of other organizational and operational requirements. We conduct business in various states and municipalities within the United States (including Puerto Rico), United Kingdom and continental Europe and, as a result, the Company or one of its subsidiaries file income tax returns in the United States federal jurisdiction and various state and certain foreign jurisdictions. As a result, the Company may be subject to certain federal, state, local and foreign taxes on our income and assets, including alternative minimum taxes, taxes on any undistributed income and state, local or foreign income, franchise, property and transfer taxes. Any of these taxes decrease Company's earnings and available cash. In addition, Company's international assets and operations, including those designated as direct or indirect qualified REIT subsidiaries or other disregarded entities of a REIT, continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted.During the period from July 13, 2011 (date of inception) to December 31, 2012, the Company elected to be taxed as a corporation, pursuant to which income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts and income tax basis of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards, using expected tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. The Company recognizes the financial statement effects of a tax position when it is more-likely-than-not, based on technical merits, that the position will be sustained upon examination. Because, the Company elected and qualified to be taxed as a REIT commencing with the taxable year ended December 31, 2013, it did not anticipate that any applicable deferred tax assets or liabilities will be realized. Significant judgment is required in determining our tax provision and in evaluating our tax positions. The Company establishes tax reserves based on a benefit recognition model, which the Company believes could result in a greater amount of benefit (and a lower amount of reserve) being initially recognized in certain circumstances. Provided that the tax position is deemed more likely than not of being sustained, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely of being ultimately realized upon settlement. The Company derecognizes the tax position when it is no longer more likely than not of being sustained. The Company recognizes deferred income taxes in certain of its subsidiaries taxable in the United States or in foreign jurisdictions. Deferred income taxes are generally the result of temporary differences (items that are treated differently for tax purposes than for U.S. GAAP purposes). In addition, deferred tax assets arise from unutilized tax net operating losses, generated in prior years. The Company provides a valuation allowance against its deferred income tax assets when it believes that it is more likely than not that all or some portion of the deferred income tax asset may not be realized. Whenever a change in circumstances causes a change in the estimated realizability of the related deferred income tax asset, the resulting increase or decrease in the valuation allowance is included in deferred income tax expense (benefit). The Company derives most of its REIT income from its real estate operations in the United States. As such, the Company's real estate operations are generally not subject to federal tax, and accordingly, no provision has been made for U.S. federal income taxes in the consolidated financial statements for these operations. These operations may be subject to certain state, local, and foreign taxes, as applicable. • Basis differences between tax and U.S. GAAP for certain international real estate investments. For income tax purposes, in certain acquisitions, the Company assumes the seller’s basis, or the carry-over basis, in the acquired assets. The carry-over basis is typically lower than the purchase price, or the U.S. GAAP basis, resulting in a deferred tax liability with an offsetting increase to goodwill or the acquired tangible or intangible assets; • Timing differences generated by differences in the U.S. GAAP basis and the tax basis of assets such as those related to capitalized acquisition costs and depreciation expense; and • Tax net operating losses in certain subsidiaries, including those domiciled in foreign jurisdictions, that may be realized in future periods if the respective subsidiary generates sufficient taxable income. The Company’s current income tax provision for the years ended December 31, 2015 and 2014 was $5.1 million and $0.7 million , respectively. The Company’s deferred income tax provision (benefit) for the years ended December 31, 2015 and 2014 was $0.8 million and $(2.1) million , respectively. The deferred tax assets included in the consolidated balance sheets is net of a valuation allowance in the amounts of $4.3 million and $3.9 million as of December 31, 2015 and 2014 , respectively. The Company recognizes current income tax expense for state and local income taxes and taxes incurred in its foreign jurisdictions. The Company's current income tax expense fluctuates from period to period based primarily on the timing of our taxable income. For the years ended December 31, 2015 and 2014 , the Company recognized an income tax (expense) benefit of $(5.9) million and $1.4 million , respectively. Deferred income tax (expense) benefit is generally a function of the period’s temporary differences and the utilization of net operating losses generated in prior years that had been previously recognized as deferred income tax assets from state and local taxes in the United States or in foreign jurisdictions. The amount of dividends payable to the Company's stockholders is determined by the board of directors and is dependent on a number of factors, including funds available for distributions, financial condition, capital expenditure requirements, as applicable, and annual dividend requirements needed to qualify and maintain the Company's status as a REIT under the Code. The following table details from a tax perspective, the portion of a distribution classified as return of capital and ordinary dividend income, per share per annum, for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Return of capital 63.1 % $ 0.45 70.4 % $ 0.50 51.7 % $ 0.37 Ordinary dividend income 36.9 % 0.26 29.6 % $ 0.21 48.3 % 0.34 Total 100.0 % $ 0.71 100.0 % $ 0.71 100.0 % $ 0.71 Foreign Currency Translation The Company's reporting currency is the U.S. dollar. The functional currency of the Company's foreign operations is the applicable local currency for each foreign subsidiary. Assets and liabilities of foreign subsidiaries (including intercompany balances for which settlement is not anticipated in the foreseeable future) are translated at the spot rate in effect at the applicable reporting date. The amounts reported in the consolidated statements of operations are translated at the average exchange rates in effect during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in the consolidated statements of changes in equity. Per Share D

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments The following table reflects the number and related base purchase prices of properties acquired as of December 31, 2014 and during the year ended December 31, 2015 : Number of Properties Base Purchase Price (1) (In thousands) As of December 31, 2014 307 $ 2,378,554 Twelve months ended December 31, 2015 22 255,008 Portfolio as of December 31, 2015 329 $ 2,633,562 ________________________________________________ (1) Contract purchase price, excluding acquisition related costs, based on the exchange rate at the time of purchase, where applicable. The following table presents the allocation of the assets acquired and liabilities assumed during the years ended December 31, 2015 , 2014 and 2013 based on contract purchase price, excluding acquisition related costs, based on the exchange rate at the time of purchase. Year Ended December 31, (1) (Dollar amounts in thousands) 2015 2014 2013 Real estate investments, at cost: Land $ 23,865 $ 288,376 $ 44,118 Buildings, fixtures and improvements 192,052 1,450,862 103,127 Total tangible assets 215,917 1,739,238 147,245 Intangibles acquired: In-place leases 44,241 418,419 44,865 Above market lease assets 1,007 26,711 2,159 Below market lease liabilities (7,449 ) (17,513 ) (5,983 ) Below market ground lease assets 3,363 901 — Above market ground lease liabilities (2,071 ) — — Goodwill — 3,665 — Total assets acquired, net 255,008 2,171,421 188,286 Mortgage notes payable used to acquire real estate investments (31,933 ) (217,791 ) (75,651 ) Credit facility borrowings used to acquire real estate investments — (446,558 ) — Other liabilities assumed — — (1,664 ) Cash paid for acquired real estate investments $ 223,075 $ 1,507,072 $ 110,971 Number of properties purchased 22 270 36 The following table presents unaudited pro forma information as if the acquisitions during the year ended December 31, 2015 , had been consummated on January 1, 2014. Additionally, the unaudited pro forma net income (loss) attributable to stockholders was adjusted to exclude acquisition and transaction related expense of $6.1 million for the year ended December 31, 2015 to the year ended December 31, 2014 . Such acquisition and transaction related expenses have been reflected in the year ended December 31, 2014 as if such acquisitions costs had been consummated on January 1, 2014 . Year Ended December 31, (In thousands) 2015 2014 Pro forma revenues $ 219,932 $ 227,134 Pro forma net income (loss) $ 9,716 $ 58,456 Pro forma basic and diluted net income (loss) per share $ 0.06 $ 0.46 The following presents future minimum base rental cash payments due to the Company during the next five calendar years and thereafter as of December 31, 2015 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indices among other items. (In thousands) Future Minimum Base Rent Payments (1) 2016 $ 195,718 2017 199,195 2018 201,720 2019 204,203 2020 206,384 Thereafter 1,151,118 Total $ 2,158,338 (1) Based on the exchange rate as of December 31, 2015 . The following table lists the tenants whose annualized rental income on a straight-line basis represented 10% or greater of consolidated annualized rental income on a straight-line basis for all properties as of December 31, 2015 , 2014 and 2013 . December 31, Tenant 2015 2014 2013 Encanto Restaurants, Inc. * * 19.4% Western Digital Corporation * * 14.6% Thames Water Utilities Limited * * 11.7% ___________________________________________ * Tenant's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified. The termination, delinquency or non-renewal of leases by any major tenant may have a material adverse effect on revenues. The following table lists the countries and states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented greater than 10% of consolidated annualized rental income on a straight-line basis as of December 31, 2015 , 2014 and 2013 . December 31, Country 2015 2014 2013 Germany * 10.9% * Puerto Rico * * 19.4% United Kingdom 19.2% 22.0% 38.4% United States: California * * 14.6% Texas 11.5% 10.4% * ___________________________________________ * Geography's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified.

Revolving Credit Facility

Revolving Credit Facility	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On July 25, 2013 , the Company, through the OP, entered into a credit facility (the "Credit Facility") that provided for aggregate revolving loan borrowings of up to $50.0 million (subject to borrowing base availability). The Credit Facility has been amended at various times, and maximum borrowings have increased to $740.0 million , with the most recent increase being on August 24, 2015. The Company had $717.3 million (including £160.2 million and €288.4 million ) and $659.3 million (including £169.8 million and €128.0 million ) outstanding under the Credit Facility as of December 31, 2015 and 2014 , respectively. Availability of borrowings is based on a pool of eligible unencumbered real estate assets. The initial maturity date of the facility is July 25, 2016 with two one-year extension options, subject to certain conditions. The Company has the option, based upon its consolidated leverage ratio, to have draws under the facility priced at either the Alternate Base Rate (as described below) plus 0.60% to 1.20% or at adjusted LIBOR plus 1.60% to 2.20% . The Alternate Base Rate is defined in the Credit Facility as a rate per annum equal to the greatest of (a) the fluctuating annual rate of interest announced from time to time by the lender as its “prime rate” in effect on such day, (b) the federal funds effective rate in effect on such day plus 0.5% of 1% and (c) the Adjusted LIBOR for a one-month interest period on such day plus 1% . Adjusted LIBOR refers to LIBOR multiplied by the statutory reserve rate, as determined by the Federal Reserve System of the United States. The Credit Facility agreement requires the Company to pay an unused fee per annum of 0.25% if the unused balance of the Credit Facility exceeds or is equal to 50% of the available facility or a fee per annum of 0.15% if the unused balance of the Credit Facility is less than 50% of the available facility. As of December 31, 2015 , the Credit Facility reflected variable and fixed rate borrowings with a carrying value and fair value of $717.3 million , and a weighted average effective interest rate of 2.2% after considering interest rate swaps in place. The unused borrowing capacity under the Credit Facility as of December 31, 2015 and 2014 was $22.7 million and $20.7 million , respectively. The Credit Facility agreement provides for quarterly interest payments for each Alternate Base Rate loan and periodic payments for each Adjusted LIBOR Rate loan, based upon the applicable LIBOR loan period, with all principal outstanding being due on the maturity date in July 2016. The Credit Facility agreement also contains two one-year extension options, subject to certain conditions. The Credit Facility may be prepaid at any time, in whole or in part, without premium or penalty, subject to prior notice to the lender. In the event of a default, the lender has the right to terminate their obligations under the Credit Facility agreement and to accelerate the payment on any unpaid principal amount of all outstanding loans. The Credit Facility requires the Company to meet certain financial covenants, including the maintenance of certain financial ratios (such as specified debt to equity and debt service coverage ratios) as well as the maintenance of a minimum net worth. As of December 31, 2015 , the Company was in compliance with the financial covenants under the Credit Facility. The total gross carrying value of unencumbered assets as of December 31, 2015 is $1.3 billion . On January 20, 2016, the Company paid down $20.0 million of its US dollar advances. Foreign currency draws under the Credit Facility are designated as net investment hedges of the Company's investments during the periods reflected in the consolidated statements of operations (see Note 8 — Derivatives and Hedging Activities for further discussion).

Mortgage Note Payable

Mortgage Note Payable	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Mortgage Note Payable	Mortgage Note Payable Mortgage notes payable as of December 31, 2015 and 2014 consisted of the following: Encumbered Properties Outstanding Loan Amount (1) Effective Interest Rate Interest Rate Country Portfolio December 31, 2015 December 31, 2014 Maturity (In thousands) (In thousands) Finland: Finnair 4 $ 30,976 $ — 2.2% (2) Fixed Sep. 2020 Tokmanni 1 31,603 — 2.4% (2) Fixed Oct. 2020 Germany: Rheinmetall 1 11,561 12,884 2.6% (2) Fixed Jan. 2019 OBI DIY 1 4,908 5,470 2.4% Fixed Jan. 2019 RWE AG 3 68,169 75,969 1.6% (2) Fixed Oct. 2019 Rexam 1 5,737 6,394 1.8% (2) Fixed Oct. 2019 Metro Tonic 1 28,904 32,211 1.7% (2) Fixed Dec. 2019 Total EUR denominated 12 181,858 132,928 United Kingdom: McDonald's 1 1,125 1,180 4.1% (2) Fixed Oct. 2017 Wickes Building Supplies I 1 2,882 3,024 3.7% (2) Fixed May 2018 Everything Everywhere 1 5,922 6,213 4.0% (2) Fixed Jun. 2018 Thames Water 1 8,882 9,319 4.1% (2) Fixed Jul. 2018 Wickes Building Supplies II 1 2,443 2,563 4.2% (2) Fixed Jul. 2018 Northern Rock 2 7,772 8,155 4.5% (2) Fixed Sep. 2018 Wickes Building Supplies III 1 2,813 2,951 4.4% (2) Fixed Nov. 2018 Provident Financial 1 18,875 19,804 4.1% (2) Fixed Feb. 2019 Crown Crest 1 28,498 29,901 4.3% (2) Fixed Feb. 2019 Aviva 1 23,242 24,387 3.8% (2) Fixed Mar. 2019 Bradford & Bingley 1 11,192 — 3.5% (2) Fixed May 2020 Intier Automotive Interiors 1 6,995 — 3.5% (2) Fixed May 2020 Capgemini 1 8,142 — 3.2% (2) Fixed Jun. 2020 Fujitisu 3 36,684 — 3.2% (2) Fixed Jun. 2020 Amcor Packaging 7 4,628 — 3.6% (2) Fixed Jul. 2020 Fife Council 1 2,715 — 3.6% (2) Fixed Jul. 2020 Malthrust 3 4,737 — 3.6% (2) Fixed Jul. 2020 Talk Talk 1 5,663 — 3.6% (2) Fixed Jul. 2020 HBOS 3 7,979 — 3.6% (2) Fixed Jul. 2020 DFS Trading 5 15,010 — 3.4% (2) Fixed Aug. 2020 DFS Trading 2 3,514 — 3.4% (2) Fixed Aug. 2020 HP Enterprise Services 1 13,748 — 3.4% (2) Fixed Aug. 2020 Total GBP denominated 40 223,461 107,497 United States: Quest Diagnostics 1 52,800 — 2.0% (3) Variable Sep. 2018 Western Digital 1 17,982 18,269 5.3% Fixed Jul. 2021 AT&T Services 1 33,550 — 2.5% (4) Variable Dec. 2020 Puerto Rico: Encanto Restaurants 18 22,057 22,492 6.3% Fixed Jun. 2017 Total USD denominated 21 126,389 40,761 Total 73 $ 531,708 $ 281,186 3.0% _________________________ (1) Amounts borrowed in local currency and translated at the spot rate as of respective date. (2) Fixed as a result of an interest rate swap agreement. (3) The interest rate is 2.0% plus 1-month LIBOR. (4) The interest rate is 2.0% plus 1- month Adjusted LIBOR as defined in the mortgage agreement. During the year ended December 31, 2015 , the Company encumbered 29 U.K. properties for which the Company received proceeds of £81.7 million ( $121.0 million based upon an exchange rate of £1.00 to $1.48 as of December 31, 2015 ), one Finnish property for which the Company received proceeds of €29.0 million ( $31.6 million based upon an exchange rate of €1.00 to $1.09 as of December 31, 2015 ) and two U.S. properties for which the Company received proceeds of $86.4 million . The following table presents future scheduled aggregate principal payments on the mortgage notes payable over the next five calendar years and thereafter as of December 31, 2015 : (In thousands) Future Principal Payments (1) 2016 $ 758 2017 23,043 2018 83,850 2019 190,249 2020 217,508 Thereafter 16,300 Total $ 531,708 (1) Based on the exchange rate as of December 31, 2015 . The Company's mortgage notes payable agreements require compliance with certain property-level financial covenants including debt service coverage ratios. As of December 31, 2015 and 2014 , the Company was in compliance with financial covenants under its mortgage notes payable agreements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company determines fair value based on quoted prices when available or through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. This alternative approach also reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The guidance defines three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date. Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability. Level 3 — Unobservable inputs that reflect the entity's own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques. The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures each quarter and depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter, however, the Company expects that changes in classifications between levels will be rare. 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. As of December 31, 2015 and 2014 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of 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. The valuation of derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and implied volatilities. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company's potential nonperformance risk and the performance risk of the counterparties. Investment Securities On September 3, 2015, the Company redeemed its investment in the AR Capital Global Real Estate Income Fund, a real estate income fund traded in an active market with an aggregate fair value of $0.5 million as of the redemption date. The real estate income fund is managed by an affiliate of the Sponsor (see Note 11 — Related Party Transactions). The redemption resulted in a recognized loss of approximately $0.1 million for the year ended December 31, 2015 . As of December 31, 2014 , the investment had an aggregate fair value of $0.5 million and an unrealized loss of $24,000 . Unrealized losses were considered temporary and therefore no impairment was recorded for the year ended December 31, 2014 . Financial Instruments Measured at Fair Value on a Recurring Basis The following table presents information about the Company's assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of December 31, 2015 and 2014 , aggregated by the level in the fair value hierarchy level within which those instruments fall. (In thousands) Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total December 31, 2015 Cross currency swaps, net (GBP & EUR) $ — $ 3,042 $ — $ 3,042 Foreign currency forwards, net (GBP & EUR) $ — $ 2,203 $ — $ 2,203 Interest rate swaps, net (GBP & EUR) $ — $ (5,461 ) $ — $ (5,461 ) Listing Note (see Note 7 ) $ — $ — $ — $ — OPP (see Note 13 ) $ — $ — $ (14,300 ) $ (14,300 ) December 31, 2014 Cross currency swaps, net (GBP & EUR) $ — $ 11,289 $ — $ 11,289 Foreign currency forwards, net (GBP & EUR) $ — $ 1,884 $ — $ 1,884 Interest rate swaps, net (GBP & EUR) $ — $ (5,650 ) $ — $ (5,650 ) Investment securities $ 490 $ — $ — $ 490 The valuations of the Listing Note and OPP are determined using a Monte Carlo simulation. This analysis reflects the contractual terms of the Listing Note and OPP, including the performance periods and total return hurdles, as well as observable market-based inputs, including interest rate curves, and unobservable inputs, such as expected volatility. As a result, the Company has determined that its Listing Note and OPP valuations in their entirety are classified in Level 3 of the fair value hierarchy. A review of the fair value hierarchy classification is conducted on a quarterly basis. Changes in the type of inputs may result in a reclassification for certain assets. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the years ended December 31, 2015 or 2014 . Level 3 Valuations The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2015 : (In thousands) Listing Note OPP Beginning balance as of December 31, 2014 $ — $ — Fair value at issuance 8,670 27,500 Fair value adjustment (8,670 ) (13,200 ) Ending balance as of December 31, 2015 $ — $ 14,300 The following table provides quantitative information about the significant Level 3 inputs used (in thousands): Financial Instrument Fair Value at December 31, 2015 Principal Valuation Technique Unobservable Inputs Input Value (In thousands) Listing Note $ — Monte Carlo Simulation Expected volatility 20.0% OPP $ 14,300 Monte Carlo Simulation Expected volatility 21.0% The following discussion provides a description of the impact on a fair value measurement of a change in each unobservable input in isolation. For the relationship described below, the inverse relationship would also generally apply. Expected volatility is a measure of the variability in possible returns for an instrument, parameter or market index given how much the particular instrument, parameter or index changes in value over time. Generally, the higher the expected volatility of the underlying, the wider the range of potential future returns. An increase in expected volatility, in isolation, would generally result in an increase in the fair value measurement of an instrument. On August 7, 2015 , the Company amended and restated the OPP (the “Amended OPP”) with the OP and the Advisor to amend certain definitions related to performance measurement to equitably adjust for share issuances and share repurchases on a go-forward basis. The amendment resulted in an immaterial adjustment to compensation cost as of the modification date. Financial Instruments not Measured at Fair Value on a Recurring Basis The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate value. The fair value of short-term financial instruments such as cash and cash equivalents, due to/from affiliates, accounts payable and dividends payable approximates their carrying value on the consolidated balance sheets due to their short-term nature. The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below. Carrying Amount Fair Value Carrying Amount Fair Value (In thousands) Level December 31, December 31, December 31, December 31, Mortgage notes payable (1) (2) 3 $ 532,384 $ 534,041 $ 282,351 $ 280,967 Credit facility 3 $ 717,286 $ 717,286 $ 659,268 $ 669,824 _____________________________ (1) Carrying value includes $531.7 million mortgage notes payable and $0.7 million mortgage premiums, net as of December 31, 2015 . (2) Carrying value includes $281.2 million mortgage notes payable and $1.2 million mortgage premiums, net as of December 31, 2014 . The fair value of the mortgage notes payable is estimated using a discounted cash flow analysis, based on the Advisor's experience with similar types of borrowing arrangements. Advances under the Credit Facility are considered to be reported at fair value.

Listing Note

Listing Note	12 Months Ended
	Dec. 31, 2015
Listing Note [Abstract]
Listing Note	Listing Note In connection with the Listing, the Company, as the general partner of the OP, caused the OP, subject to the terms of the Second Amended and Restated Limited Partnership Agreement, to issue a note (the "Listing Note") to the Special Limited Partner, to evidence the OP’s obligation to distribute to the Special Limited Partner an aggregate amount (the "Listing Amount") equal to 15.0% of the difference (to the extent the result is a positive number) between: • the sum of (i) the "market value" (as defined in the Listing Note) of all of the Company’s outstanding shares of Common Stock plus (ii) the sum of all distributions or dividends (from any source) paid by the Company to its stockholders prior to the Listing; and • the sum of (i) the total amount raised in the Company’s IPO and its DRIP prior to the Listing ("Gross Proceeds") plus (ii) the total amount of cash that, if distributed to those stockholders who purchased shares in the IPO and under the DRIP, would have provided those stockholders a 6.0% cumulative, non-compounded, pre-tax annual return (based on a 365 -day year) on the Gross Proceeds. The market value used to calculate the Listing Amount will not be determinable until the end of a measurement period of 30 consecutive trading days, commencing on the 180th calendar day following the Listing, unless another liquidity event, such as a merger, occurs prior to the end of the measurement period. If another liquidity event occurs prior to the end of the measurement period, the Listing Note provides for appropriate adjustment to the calculation of the Listing Amount. The Special Limited Partner will have the right to receive distributions of Net Sales Proceeds, as defined in the Listing Note, until the Listing Note is paid in full; provided that, the Special Limited Partner has the right, but not the obligation, to convert the entire special limited partner interest into OP Units. Those OP Units would be convertible for the cash value of a corresponding number of shares of Common Stock or a corresponding number of shares of Common Stock, at the Company's option, in accordance with the terms contained in the Second Amended and Restated Limited Partnership Agreement. Until the amount of the Listing Note can be determined, the Listing Note is considered a liability which is marked to fair value at each reporting date, with changes in the fair value recorded in the consolidated statements of operations. The Listing Note fair value at issuance and as of December 31, 2015 was determined using a Monte Carlo simulation, which uses a combination of observable and unobservable inputs. As of December 31, 2015 , the Listing Note had a fair value of zero (see Note 6 — Fair Value of Financial Instruments). The final fair value of the Listing Note on maturity at January 23, 2016 was determined to be zero as well.

Derivative and Hedging Activiti

Derivative and Hedging Activities	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company uses derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. Certain foreign investments expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value of the Company’s cash receipts and payments in terms of the Company’s functional currency. The Company enters into derivative financial instruments to protect the value or fix the amount of certain obligations in terms of its functional currency, the U.S. dollar ("USD"). The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company's operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate and currency risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any such counterparties will fail to meet their obligations. The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2015 and 2014 : December 31, (In thousands) Balance Sheet Location 2015 2014 Derivatives designated as hedging instruments: Interest rate swaps (GBP) Derivative assets, at fair value $ 567 $ 18 Cross currency swaps (GBP) Derivative assets, at fair value — 4,517 Cross currency swaps (EUR) Derivative assets, at fair value — 7,219 Interest rate swaps (GBP) Derivative liabilities, at fair value (3,313 ) (4,353 ) Interest rate swaps (EUR) Derivative liabilities, at fair value (2,715 ) (1,315 ) Cross currency swaps (GBP) Derivative liabilities, at fair value — (447 ) Total $ (5,461 ) $ 5,639 Derivatives not designated as hedging instruments: Foreign currency forwards (EUR-USD) Derivative assets, at fair value $ 1,113 $ 736 Foreign currency forwards (GBP-USD) Derivative assets, at fair value 1,090 1,148 Cross currency swaps (GBP) Derivative assets, at fair value 509 — Cross currency swaps (EUR) Derivative assets, at fair value 2,533 — Total $ 5,245 $ 1,884 The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of December 31, 2015 and 2014 . The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets. Gross Amounts Not Offset on the Balance Sheet (In thousands) Gross Amounts of Recognized Assets Gross Amounts of Recognized (Liabilities) Gross Amounts Offset on the Balance Sheet Net Amounts of Assets (Liabilities) presented on the Balance Sheet Financial Instruments Cash Collateral Received (Posted) Net Amount December 31, 2015 $ 5,812 $ (6,028 ) $ — $ (216 ) $ — $ — $ (216 ) December 31, 2014 $ 13,638 $ (6,115 ) $ — $ 7,523 $ — $ — $ 7,523 In addition to the above derivative arrangements, the Company also uses non-derivative financial instruments to hedge its exposure to foreign currency exchange rate fluctuations as part of its risk management program, including foreign denominated debt issued and outstanding with third parties to protect the value of its net investments in foreign subsidiaries against exchange rate fluctuations. The Company draws foreign currency advances under its Credit Facility to fund certain investments in the respective local currency which creates a natural hedge against the original equity invested in the real estate investments, removing the need for the final cross currency swaps (See Note 4 — Revolving Credit Facility). As further discussed below, in conjunction with the restructuring of the cross currency swaps on February 4, 2015, foreign currency advances of €110.5 million and £68.5 million were drawn under the Company’s Credit Facility. The Company separately designated each foreign currency draw as a net investment hedge under ASC 815. Effective May 17, 2015, the Company modified the hedging relationship and designated all foreign currency draws as net investment hedges to the extent of the Company’s net investment in foreign subsidiaries. To the extent foreign draws in each currency exceed the net investment, the Company reflects the effects of changes in currency on such excess in earnings. As of December 31, 2015 , the Company had draws of £36.0 million and €27.9 million in excess of its net investments. . Interest Rate Swaps The Company’s objectives in using interest rate swaps are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of December 31, 2015 and 2014 , the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: December 31, 2015 December 31, 2014 Derivatives Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Interest rate swaps (GBP) 27 $ 697,925 20 $ 371,225 Interest rate swaps (EUR) 16 561,282 10 282,999 Total 43 $ 1,259,207 30 $ 654,224 The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction impacts earnings. During 2015 , such derivatives were used to hedge the variable cash flows associated with variable-rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the year ended December 31, 2015 , the Company recorded a loss of $0.4 million of ineffectiveness in earnings. During the years ended December 31, 2014 and 2013 there were no losses due to ineffectiveness. During the year ended December 31, 2015 , the Company terminated/partially terminated two of its interest rate swaps and accelerated the reclassification of amounts in other comprehensive income (loss) to net income (loss) as a result of the hedged forecasted transactions becoming probable not to occur. The accelerated amounts were a loss of $38,000 . Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. During the next 12 months , the Company estimates that an additional $4.4 million will be reclassified from other comprehensive income (loss) as an increase to interest expense. The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the years ended December 31, 2015 , 2014 and 2013 . Year Ended December 31, (In thousands) 2015 2014 2013 Amount of gain (loss) recognized in accumulated other comprehensive (loss) income from derivatives (effective portion) $ 8,800 5,670 $ (1,901 ) Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion) $ (4,166 ) (2,087 ) $ (123 ) Amount of loss recognized in income on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) $ (371 ) — $ — Cross Currency Swaps Designated as Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on property investments in foreign countries which pay rental income, incur property related expenses and hold debt instruments in currencies other than its functional currency, the USD. The Company uses foreign currency derivatives including cross currency swaps to hedge its exposure to changes in foreign exchange rates on certain of its foreign investments. Cross currency swaps involve fixing the applicable exchange rate for delivery of a specified amount of foreign currency on specified dates. On February 4, 2015, the Company restructured its cross currency swaps and replaced its initial US dollar equity funding in certain foreign real estate investments with foreign currency debt. As part of the restructuring, foreign currency advances of €110.5 million and £68.5 million were drawn under the Company’s Credit Facility which created a natural hedge against the original equity invested in the real estate investments, thus removing the need for the final equity notional component of the cross currency swaps. Through February 4, 2015, these cross currency swaps had been designated as net investment hedges. For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in accumulated other comprehensive income (loss) (outside of earnings) as part of the cumulative translation adjustment. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of accumulated other comprehensive income (loss) into earnings when the hedged net investment is either sold or substantially liquidated. The restructuring and settlement of the cross currency swaps resulted in a gain of approximately $19.0 million , with $10.1 million in proceeds received and $8.9 million retained by the bank as a reduction of outstanding Credit Facility balance. The gain will remain in the cumulative translation adjustment (CTA) until such time as the net investments are sold or substantially liquidated in accordance with ASC 830. Following the restructuring noted above, these cross currency swaps no longer qualified for net investment hedge accounting treatment and as such all changes in fair value from February 5, 2015 through December 31, 2015 were recognized in earnings. As of December 31, 2015 , the Company did not have any outstanding derivative instruments designated as net investment hedges. The Company had the following outstanding cross currency swaps that were used to hedge its net investments in foreign operations at December 31, 2014 : December 31, 2014 Derivatives Number of Instruments (1) Notional Amount (1) (In thousands) Cross currency swaps (GBP-USD) 5 $ 107,623 Cross currency swaps (EUR-USD) 10 — 134,285 Total 15 $ 241,908 ____________________________________ (1) Payments and obligations pursuant to these foreign currency swap agreements are guaranteed by the Company, ARC Global Holdco, LLC and the OP. Foreign Denominated Debt Designated as Net Investment Hedges Effective May 17, 2015, all foreign currency draws under the Credit Facility were designated as net investment hedges. As such, the effective portion of changes in value due to currency fluctuations are reported in accumulated other comprehensive income (loss) (outside of earnings) as part of the cumulative translation adjustment. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of accumulated other comprehensive income (loss) into earnings when the hedged net investment is either sold or substantially liquidated. As of December 31, 2015 , total foreign currency advances under the Credit Facility were approximately $551.8 million , which reflects advances of £160.2 million ( $237.2 million based upon an exchange rate of £1.00 to $1.48 as of December 31, 2015 ) and advances of €288.4 million ( $314.6 million based upon an exchange rate of €1.00 to $1.09 , as of December 31, 2015 ). The Company recorded gains of $5.1 million and $1.4 million for the years ended December 31, 2015 and 2014 , respectively, due to the ineffectiveness resulting from the over-hedged position of the foreign currency advances over the related net investments. The Company did not recorded any gains (losses) for the year ended December 31, 2013 due to the ineffectiveness resulting from over-hedging in foreign currency advances over the related net investments. Prior to May 16, 2015 , foreign currency advances which comprised of $92.1 million of Pound Sterling ("GBP") draws (based upon an exchange rate of $1.58 to £1.00 , as of May 16, 2015 ) and $126.0 million of Euro ("EUR") draws (based upon an exchange rate of $1.14 to €1.00 , as of May 16, 2015 ) were not designated as net investment hedges and, accordingly, the changes in value through May 16, 2015 due to currency fluctuations were reflected in earnings. As a result, the Company recorded remeasurement losses on the foreign denominated draws of $3.6 million for the year ended December 31, 2015 . No such remeasurement gains (losses) were recorded on the foreign denominate draws for the years ended December 31, 2014 and 2013 . As of December 31, 2015 , total outstanding draws under the Credit Facility denominated in foreign currency was $551.8 million , and total net investments in real estate denominated in foreign currency was $468.3 million , this resulted in an overhedge position of $83.5 million (comprised of £36.0 million and €27.9 million draws). As all foreign draws are now designated as net investment hedges there were no additional remeasurement gains (losses) for the year ended December 31, 2015 . Non-designated Derivatives The Company is exposed to fluctuations in the exchange rates of its functional currency, the USD, against the GBP and the EUR. The Company uses foreign currency derivatives including currency forward and cross currency swap agreements to manage its exposure to fluctuations in GBP-USD and EUR-USD exchange rates. While these derivatives are hedging the fluctuations in foreign currencies, they do not meet the strict hedge accounting requirements to be classified as hedging instruments. Changes in the fair value of derivatives not designated as hedges under qualifying hedging relationships are recorded directly in net income (loss). The Company recorded total gains of $3.9 million and $1.9 million on the non-designated hedges for the years ended December 31, 2015 and 2014 , respectively. The Company did not have any non-designated hedges during the year ended December 31, 2013 and therefore did not record any gains (losses). As of December 31, 2015 and 2014 , the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships. December 31, 2015 December 31, 2014 Derivatives Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Foreign currency forwards (GBP - USD) 40 $ 6,628 80 $ 13,664 Foreign currency forwards (EUR - USD) 15 6,139 31 12,699 Cross currency swaps (GBP - USD) 9 82,843 — — Cross currency swaps (EUR - USD) 5 99,847 — — Total 69 $ 195,457 111 $ 26,363 Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations. As of December 31, 2015 , the fair value of derivatives in net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $7.1 million . As of December 31, 2015 , the Company had not posted any collateral related to these agreements and was not in breach of any agreement provisions. 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.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common Stock	Common Stock The Company listed its Common Stock on the NYSE under the symbol "GNL" on June 2, 2015 . In connection with the Listing, the Company repurchased approximately 11.9 million shares of its Common Stock for $10.50 per share, for an aggregate amount of $125.0 million , excluding fees and expenses pursuant to the Tender Offer. The Company funded the Tender Offer using cash on hand and funds available under its Credit Facility. As of December 31, 2015 and 2014 , the Company had 168,936,633 and 177,933,175 shares of Common Stock outstanding, respectively, including shares issued under the DRIP, but not including unvested restricted shares, the OP Units issued to limited partners other than the Company or long-term incentive units issued in accordance with the OPP which are currently, or may be in the future, convertible into shares of Common Stock. Monthly Dividends and Change to Payment Dates The Company pays dividends on the 15th day of each month at a rate of $0.059166667 per share to stockholders of record as of close of business on the 8th day of such month. The Company's board of directors may reduce the amounts of dividends paid or suspend dividend payments at any time and therefore dividend payments are not assured. For purposes of the presentation of information herein, the Company may refer to distributions by the OP on OP Units, Class B units and LTIP Units as dividends. On April 7, 2015, the Company suspended the DRIP. The final issuance of shares of Common Stock pursuant to the DRIP occurred in connection with the Company’s April dividend which was paid on May 1, 2015. Share Repurchase Program On April 7, 2015, the Company's board of directors approved the termination of the Company’s SRP. The Company processed all of the requests received under the SRP in the first quarter of 2015 and will not process further requests. The following table reflects the cumulative number of common shares repurchased as of December 31, 2014 and 2015 : Number of Shares Repurchased Weighted Average Price per Share Cumulative repurchases as of December 31, 2014 99,969 9.91 Redemptions 135,123 9.78 Shares repurchased under Tender Offer 11,904,762 10.50 Cumulative repurchases as of December 31, 2015 12,139,854 $ 10.49

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Ground Leases Certain properties are subject to ground leases, which are accounted for as operating leases. The ground leases have varying ending dates, renewal options, and rental rate escalations, with the latest leases extending to April 2105. Future minimum rental payments to be made by the Company under these noncancelable ground leases, excluding increases resulting from increases in the consumer price index, are as follows: (In thousands) Future Ground Lease Payments 2016 $ 1,306 2017 1,307 2018 1,307 2019 1,307 2020 1,307 2021 1,307 Thereafter 41,251 Total $ 49,092 The Company incurred rent expense on ground leases of $0.3 million during the year ended December 31, 2015 . The Company did not have any rent expense on ground leases during the year ended December 31, 2014 . Litigation and Regulatory Matters In the ordinary course of business, the Company may become subject to litigation, claims and regulatory matters. There are no material legal or regulatory proceedings pending or known to be contemplated against the Company. 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. As of December 31, 2015 , the Company had not been notified by any governmental authority of any non-compliance, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on the results of operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2015 and 2014 , the Sponsor, the Special Limited Partner and a subsidiary of the Service Provider owned, in the aggregate, 244,444 shares of the Company's outstanding Common Stock. The Advisor, the Service Provider, and their affiliates may incur costs and fees on behalf of the Company. As of December 31, 2015 and 2014 , the Company had $0.1 million and $0.5 million of receivable from affiliated entities $0.4 million and $0.4 million of payable to their affiliates, respectively. The Company is the sole general partner of the OP and holds the majority of OP Units. The Special Limited Partner, a limited partner, held 22 OP Units as of December 31, 2015 , which represented a nominal percentage of the aggregate OP ownership. On June 2, 2015, the Advisor and the Service Provider exchanged 1,726,323 previously-issued Class B units for 1,726,323 OP Units pursuant to the OP Agreement. These OP Units are exchangeable for shares of Common Stock of the Company on a one-for-one basis, or the cash value of shares of Common Stock (at the option of the Company), 12 months from the Listing Date subject to the terms of the limited partnership agreement of the OP. The Advisor and the OP also entered into a Contribution and Exchange Agreement pursuant to which the Advisor contributed $0.8 million in cash to the OP in exchange for 83,333 OP Units. As of December 31, 2015 , the Advisor held a total of 1,461,753 OP Units, the Service Provider held a total of 347,903 OP Units, and the Special Limited Partner held 22 OP Units. The Company paid $0.6 million million of OP Unit distributions during the year ended December 31, 2015 . There were no OP Unit distributions during the year ended December 31, 2014 . A holder of OP Units, other than the Company, has the right to convert OP Units for a corresponding number of shares of the Company's Common Stock or the cash value equivalent of those corresponding shares, at the Company's option, in accordance with the limited partnership agreement of the OP. The remaining rights of the holders of OP Units are limited, however, and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets. On September 30, 2015, the Company fully redeemed its investment of $0.5 million in a real estate income fund managed by an affiliate of the Sponsor (see Note 6 — Fair Value of Financial Instruments). Fees Paid in Connection with the IPO The Former Dealer Manager was paid fees and compensation in connection with the sale of the Company's Common Stock in the IPO which was completed on June 30, 2014. Specifically, the Former Dealer Manager was paid selling commissions of up to 7.0% of the per share purchase price of offering proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Former Dealer Manager was paid 3.0% of the per share purchase price from the sale of the Company's shares, a portion of which was reallowed to participating broker-dealers. The following table details total selling commissions and dealer manager fees incurred from and payable to the Former Dealer Manager related to the sale of Common Stock as of and for the periods presented: Year Ended December 31, Payable as of December 31, (In thousands) 2015 2014 2015 2014 Total commissions and fees to Former Dealer Manager $ (8 ) $ 148,372 $ — $ 13 The Advisor and its affiliates were paid compensation and received reimbursement for services relating to the IPO, including transfer agent services provided by an affiliate of the Former Dealer Manager. All offering costs incurred by the Company or the Advisor and its affiliated entities on behalf of the Company have been charged to additional paid-in capital on the accompanying consolidated balance sheets. The following table details fees and offering cost reimbursements incurred and payable to the Advisor and the Former Dealer Manager related to the sale of Common Stock as of and for the periods presented: Year Ended December 31, Payable as of December 31, (In thousands) 2015 2014 2015 2014 Fees and expense reimbursements to the Advisor and Former Dealer Manager $ — $ 16,920 $ — $ 61 The Company was responsible for paying offering and related costs from the IPO, excluding commissions and dealer manager fees, up to a maximum of 1.5% of gross proceeds received from its ongoing offering of Common Stock, measured at the end of the offering. Offering costs in excess of the 1.5% cap as of the end of the offering were the Advisor's responsibility. During 2015 , the Advisor reimbursed the Company $0.5 million of offering costs. Offering and related costs, excluding commissions and dealer manager fees, did not exceed 1.5% of gross proceeds received from the IPO. After the escrow break, the Advisor elected to cap cumulative offering costs incurred by the Company, net of unpaid amounts, to 11.5% of gross common stock proceeds during the offering period. As of December 31, 2015 , cumulative offering costs were $188.1 million . Cumulative offering costs of the IPO net of unpaid amounts did not exceed 11.5% . Fees Paid in Connection With the Operations of the Company Until June 2, 2015, the Advisor was paid an acquisition fee of 1.0% of the contract purchase price of each acquired property and 1.0% of the amount advanced for a loan or other investment. Solely with respect to investment activities in Europe, the Service Provider was paid 50% of the acquisition fees and the Advisor was paid the remaining 50% , as set forth in the service provider agreement. The Advisor was also reimbursed for insourced expenses incurred in the process of acquiring properties, which were limited to 0.5% of the contract purchase price and 0.5% of the amount advanced for a loan or other investment. Additionally, the Company will pay third party acquisition expenses. The Company's Advisor provides services in connection with the origination or refinancing of any debt that the Company obtained and used to acquire properties or to make other permitted investments, or that is assumed, directly or indirectly, in connection with the acquisition of properties. Until June 2, 2015, the Company paid the Advisor a financing coordination fee equal to 0.75% of the amount available and/or outstanding under such financing, subject to certain limitations. Solely with respect to the Company's investment activities in Europe, the Service Provider was paid 50% of the financing coordination fees and the Advisor received the remaining 50% . Until the Listing, the Company compensated the Advisor for its asset management services in an amount equal to 0.75% per annum of the total of: the cost of the Company's assets (cost includes the purchase price, acquisition expenses, capital expenditures and other customarily capitalized costs, but excluding acquisition fees) plus costs and expenses incurred by the Advisor in providing asset management services, less the excess, if any, of dividends over FFO plus acquisition fees expenses and restricted share grant amortization. Until April 1, 2015, as compensation for this arrangement, the Company caused the OP to issue (subject to periodic approval by the board of directors) to the Advisor and Service Provider performance-based restricted partnership units of the OP designated as "Class B units," which were intended to be profits interests and would vest, and no longer be subject to forfeiture, at such time as: (x) the value of the OP's assets plus all distributions made equaled or exceeded the total amount of capital contributed by investors plus a 6.0% cumulative, pre-tax, non-compounded annual return thereon (the "economic hurdle"); (y) any one of the following had occurred: (1) the termination of the advisory agreement by an affirmative vote of a majority of the Company's independent directors without cause; (2) a listing; or (3) another liquidity event; and (z) the Advisor is still providing advisory services to the Company (the "performance condition"). The value of issued Class B units was determined and expensed when the Company deemed the achievement of the performance condition was probable, which occurred as of the Listing. As of June 2, 2015, in aggregate the board of directors had approved the issuance of 1,726,323 Class B units to the Advisor and the Service Provider in connection with this arrangement. The Advisor and the Service Provider received distributions on unvested Class B units equal to the dividend rate received on the Company's Common Stock. Such distributions on issued Class B units in the amount of $0.3 million and $0.2 million were included in general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2015 and 2014 , respectively. Subsequent to the Listing, the Company recorded OP Unit distributions which are included in consolidated statements of changes in equity. From April 1, 2015 to the Listing Date, the Advisor was paid for its asset management services in cash. The performance condition related to these Class B units was satisfied upon completion of the Listing, and the Class B units vested at a cost of $14.5 million on June 2, 2015 . Concurrently, the Class B units were converted to OP Units on a one-to-one basis. The vested value was calculated based, in part, on the closing price of Company's Common Stock on June 2, 2015 less an estimated discount for the one year lock-out period of transferability or liquidity of the OP Units. On the Listing Date, the Company entered into the Fourth Amended and Restated Advisory Agreement (the “Advisory Agreement”) by and among the Company, the OP and the Advisor, which, among other things, eliminated the acquisition fee and finance coordination fee payable to the Advisor under the original Advisory Agreement, as amended, except for fees with respect to properties under contract, letter of intent or under negotiation as of the Listing Date. Under the terms of the Advisory Agreement, the Company pays the Advisor: (i) a base fee of $18.0 million per annum payable in cash monthly in advance (“Minimum Base Management Fee”); (ii) plus a variable fee, payable monthly in advance in cash, equal to 1.25% of the cumulative net proceeds realized by the Company from the issuance of any common equity, including any common equity issued in exchange for or conversion of preferred stock or exchangeable notes, as well as, from any other issuances of common, preferred, or other forms of equity of the Company, including units of any operating partnership (“Variable Base Management Fee”); and (iii) an incentive fee (“Incentive Compensation”), 50% payable in cash and 50% payable in shares of the Company’s Common Stock (which shares are subject to certain lock up restrictions), equal to: (a) 15% of the Company’s Core AFFO (as defined in the Advisory Agreement) per weighted average share outstanding for the applicable period (“Core AFFO Per Share”)(1) in excess of an incentive hurdle based on an annualized Core AFFO Per Share of $0.78 , plus (b) 10% of the Core AFFO Per Share in excess of an incentive hurdle of an annualized Core AFFO Per Share of $1.02 . The $0.78 and $1.02 incentive hurdles are subject to annual increases of 1% to 3% . The Base Management Fee and the Incentive Compensation are each subject to an annual adjustment. The annual aggregate amount of the Minimum Base Management Fee and Variable Base Management Fee (collectively, the “Base Management Fee”) that may be paid under the Advisory Agreement will also be subject to varying caps based on assets under management (“AUM”) (2) , as defined in the Advisory Agreement. _______________________________ (1) For purposes of the Advisory Agreement, Core AFFO per share means (i) Net income adjusted for the following items (to the extent they are included in Net income): (a) real estate related depreciation and amortization; (b) Net income from unconsolidated partnerships and joint ventures; (c) one-time costs that the Advisor deems to be non-recurring; (d) non-cash equity compensation (other than any Restricted Share Payments); (e) other non-cash income and expense items; (f) non-cash dividends related to the Class B Units of the OP and certain non-cash interest expenses related to securities that are convertible to Common Stock; (g) gains (or losses) from the sale of Investments; (h) impairment losses on real estate; (i) acquisition and transaction related costs; (j) straight-line rent; (k) amortization of above and below market leases and liabilities; (l) amortization of deferred financing costs; (m) accretion of discounts and amortization of premiums on debt investments; (n) mark-to-market adjustments included in Net income; (o) unrealized gains or losses resulting from consolidation from, or deconsolidation to, equity accounting, and (p) consolidated and unconsolidated partnerships and joint ventures. (ii) divided by the weighted average outstanding shares of Common Stock on a fully diluted basis for such period. (2) For purposes of the Advisory Agreement, "AUM" means, for a specified period, an amount equal to (A) (i) the aggregate costs of the Company's investments (including acquisition fees and expenses) at the beginning of such period (before reserves for depreciation of bad debts, or similar non-cash reserves) plus (ii) the aggregate cost of the Company's investment at the end of such period (before reserves from depreciation or bad debts, or similar non-cash reserves) divided by (B) two (2). In addition, the per annum aggregate amount of the Base Management Fee and the Incentive Compensation to be paid under the Advisory Agreement is capped at (a) 1.25% of the AUM for the previous year if AUM is less than or equal to $5.0 billion ; (b) 0.95% if the AUM is equal to or exceeds $15.0 billion ; or (c) a percentage equal to: (A) 1.25% less (B) (i) a fraction, (x) the numerator of which is the AUM for such specified period less $5.0 billion and (y) the denominator of which is $10.0 billion multiplied by (ii) 0.30% if AUM is greater than $5.0 billion but less than $15.0 billion . The Variable Base Management Fee is also subject to reduction if there is a sale or sales of one or more Investments in a single or series of related transactions exceeding $200.0 million and, the special dividend(s) related thereto. In connection with providing strategic advisory services related to certain portfolio acquisitions, the Company has entered into arrangements in which the investment banking division of the Former Dealer Manager is paid a transaction fee of 0.25% of the Transaction Value for such portfolio acquisition transactions. Pursuant to such arrangements to date, the Transaction Value has been defined as: (i) the value of the consideration paid or to be paid for all the equity securities or assets in connection with the sale transaction or acquisition transaction (including consideration payable with respect to convertible or exchangeable securities and option, warrants or other exercisable securities and including dividends or dividends and equity security repurchases made in anticipation of or in connection with the sale transaction or acquisition transaction), or the implied value for all the equity securities or assets of the Company or acquisition target, as applicable, if a partial sale or purchase is undertaken, plus (ii) the aggregate value of any debt, capital lease and preferred equity security obligations (whether consolidated, off-balance sheet or otherwise) of the Company or acquisition target, as applicable, outstanding at the closing of the sale transaction or acquisition transaction), plus (iii) the amount of any fees, expenses and promote paid by the buyer(s) on behalf of the Company or the acquisition target, as applicable. Should the Former Dealer Manager provide strategic advisory services related to additional portfolio acquisition transactions, the Company will enter into new arrangements with the Former Dealer Manager on such terms as may be agreed upon between the two parties. Property Manager provides property management and leasing services for properties owned by the Company, for which the Company pays fees equal to: (i) with respect to stand-alone, single-tenant net leased properties which are not part of a shopping center, 2.0% of gross revenues from the properties managed and (ii) with respect to all other types of properties, 4.0% of gross revenues from the properties managed. For services related to overseeing property management and leasing services provided by any person or entity that is not an affiliate of the Property Manager, the Company pays the Property Manager an oversight fee equal to 1.0% of gross revenues of the property managed. Solely with respect to the Company's investments in properties located in Europe, the Service Provider receives a portion of the fees payable to the Advisor equal to: (i) with respect to single-tenant net leased properties which are not part of a shopping center, 1.75% of the gross revenues from such properties and (ii) with respect to all other types of properties, 3.5% of the gross revenues from such properties. The Property Manager is paid 0.25% of the gross revenues from European single-tenant net leased properties which are not part of a shopping center and 0.5% of the gross revenues from all other types of properties, reflecting a split of the oversight fee with the Service Provider. The following table reflects related party fees incurred, forgiven and contractually due as of and for the periods presented: Year Ended December 31, 2015 2014 2013 Payable as of December 31, (In thousands) Incurred Forgiven Incurred Forgiven Incurred Forgiven 2015 2014 2013 One-time fees and reimbursements: Acquisition fees and related cost reimbursements (1) $ 735 $ — $ 32,915 $ — $ 2,447 $ — $ — $ 2 $ — Transaction fee — — — — 165 — — — — Financing coordination fees (2) 1,159 — 6,546 — 926 — 466 (6) — — Ongoing fees: Asset management fees (3) 13,501 — — — — — 217 (5) — — Property management and leasing fees (4) 3,982 2,507 1,316 690 50 25 91 (6) 52 1 Strategic advisory fees — — 561 — 359 — — — — Class B OP Unit Distributions 339 — 178 — 4 — — — — LTIP Distributions 375 — — — — — 375 (7) — — Vesting of Class B units (3) 14,480 — — — — — — — — Total related party operational fees and reimbursements $ 34,571 $ 2,507 $ 41,516 $ 690 $ 3,951 $ 25 $ 1,149 $ 54 $ 1 ___________________________________________________________________________ (1) These affiliated fees are recorded within acquisition and transaction related costs on the consolidated statements of operations. (2) These affiliated costs are recorded as deferred financing costs and amortized over the term of the respective financing arrangement. (3) From January 1, 2013 to April 1, 2015, the Company caused the OP to issue to the Advisor (subject to periodic approval by the board of directors) restricted performance based Class B units for asset management services, which would vest if certain conditions occur. At the Listing Date, all Class B units held by the Advisor converted to OP Units. From April 1, 2015 until the Listing Date, the Company paid the Advisor asset management fees in cash (as elected by the Advisor). From the Listing Date, the Advisor received asset management fees in cash in accordance with the Amended and Restated Advisory Agreement. No Incentive Compensation was incurred for the year ended December 31, 2015 . (4) The Advisor waived 100% of fees from U.S. assets and its allocated portion of 50% of fees from European assets. (5) Balance included within due to affiliates on the consolidated balance sheets as of December 31, 2015 . In addition, due to affiliates includes $0.8 million of costs accrued for transfer asset and personnel services received from the Company's affiliated parties including ANST, Advisor and RCS which are recorded within general and administrative expenses on the consolidated statements of operations for the year ended December 31, 2015 and are not reflected in the table above. (6) Balance included within accounts payable and accrued expenses on the consolidated balance sheets as of December 31, 2015 . (7) Balance included within dividends payable on the consolidated balance sheets as of December 31, 2015 . The Company reimburses the Advisor's costs of providing administrative services, subject to the limitation that the Company will not reimburse the Advisor for any amount by which the Company's operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of (a) 2.0% of average invested assets and (b) 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non-cash reserves and excluding any gain from the sale of assets for that period. Additionally, the Company reimburses the Advisor for personnel costs in connection with other services, in addition to paying an asset management fee; however, the Company does not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives acquisition fees or real estate commissions. No reimbursement was incurred from the Advisor for providing services during the years ended December 31, 2015 , 2014 and 2013 . In order to improve operating cash flows and the ability to pay dividends from operating cash flows, the Advisor may waive certain fees including asset management and property management fees. Because the Advisor may waive certain fees, cash flow from operations that would have been paid to the Advisor may be available to pay dividends to stockholders. The fees that may be forgiven are not deferrals and accordingly, will not be paid to the Advisor. In certain instances, to improve the Company's working capital, the Advisor may elect to absorb a portion of the Company's general and administrative costs or property operating expenses. These absorbed costs are presented net in the accompanying consolidated statements of operations. During the year ended December 31, 2015 , the Advisor absorbed some of the property management and professional fees. During the year ended December 31, 2014 , there were no property operating and general administrative expenses absorbed by our Advisor. The predecessor to AR Global is a party to a services agreement with RCS Advisory Services, LLC, a subsidiary of the parent company of the Former Dealer Manager (“RCS Advisory”), pursuant to which RCS Advisory and its affiliates provided the Company and certain other companies sponsored by AR Global with services (including, without limitation, transaction management, compliance, due diligence, event coordination and marketing services, among others) on a time and expenses incurred basis or at a flat rate based on services performed. The predecessor to AR Global instructed RCS Advisory to stop providing such services in November 2015 and no services have since been provided by RCS Advisory. The Company is also party to a transfer agency agreement with American National Stock Transfer, LLC, a subsidiary of the parent company of the Former Dealer Manager (“ANST”), pursuant to which ANST provided the Company with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services), and supervisory services overseeing the transfer agency services performed by a third-party transfer agent. AR Global received written notice from ANST on February 10, 2016 that it would wind down operations by the end of the month and would withdraw as the transfer agent effective February 29, 2016. The Company’s current provider of sub-transfer agency services will provide the Company with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services) until the Company enters into a definitive transfer agency agreement with a transfer agent. During the year ended December 31, 2015 , the Company has incurred approximately $0.8 million of recurring transfer agent services fees to ANST which were included in general and administrative expenses in the consolidated statements of operations. The following table details property operating and general and administrative expenses absorbed by the Advisor during the three years ended December 31, 2015 , 2014 , and 2013 : Year Ended December 31, (In thousands) 2015 2014 2013 Property operating expenses absorbed $ — $ 178 $ 4 General and administrative expenses absorbed — — 1,292 Total expenses absorbed (1) $ — $ 178 $ 1,296 ___________________________________________________ (1) The Company had had $0.5 million and $0.1 million receivables from the Advisor related to absorbed costs as of December 31, 2014 and 2013 , respectively,. Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets On December 31, 2014, the Company entered into an agreement with RCS Capital, the investment banking and capital markets division of the Former Dealer Manager, for strategic and financial advice and assistance in connection with (i) a possible sale transaction involving the Company (ii) the possible listing of the Company’s securities on a national securities exchange, and (iii) a possible acquisition transaction involving the Company. The Company also retained Barclays Capital Inc. as a strategic advisor. Both RCS Capital and Barclays Capital Inc., were each entitled to receive a transaction fee equal to 0.23% of the transaction value in connection with a possible sale transaction, listing or acquisition, if any. In connection with Listing, the Company incurred approximately $18.7 million of listing related fees during the year ended December 31, 2015 of which $6.0 million was paid to RCS Capital and $6.1 million to Barclays Capital Inc., including out of pocket expense in connection with these agreements. The Company did not incur any additional listing fees during the year ended December 31, 2014 . In addition, the Company incurred and paid to RCS Capital $2.5 million for personnel and support services in connection with the Listing. The Company also incurred $0.6 million of transfer agent fees to ANST in relation to the Listing. In connection with the Listing and the Advisory Agreement, the Company terminated the subordinated termination fee that would be due to the Advisor in the event of termination of the advisory agreement. All costs noted above were included in listing fees in the consolidated statements of operations under listing fees for the year ended December 31, 2015 .

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2015
Economic Dependency [Abstract]
Economic Dependency	Economic Dependency Under various agreements, the Company has engaged or will engage the Advisor, its affiliates and entities under common control with the Advisor, and the Service Provider, to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company's Common Stock available for issue, transfer agency services, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon the Advisor and its affiliates and the Service Provider. In the event that these companies are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2015
Share-based Compensation [Abstract]
Share-Based Compensation	Share-Based Compensation Stock Option Plan The Company has a stock option plan (the "Plan") which authorizes the grant of nonqualified stock options to the Company's independent directors, officers, advisors, consultants and other personnel, subject to the absolute discretion of the board of directors and the applicable limitations of the Plan. The exercise price for all stock options granted under the Plan will be equal to the fair market value of a share on the last business day preceding the annual meeting of stockholders. A total of 0.5 million shares have been authorized and reserved for issuance under the Plan. As of December 31, 2015 , 2014 and 2013 , no stock options were issued under the Plan. Restricted Share Plan The Company's employee and director incentive restricted share plan ("RSP") provides the Company with the ability to grant awards of restricted shares to the Company's directors, officers and employees (if the Company ever has employees), employees of the Advisor and its affiliates, employees of entities that provide services to the Company, directors of the Advisor or of entities that provide services to the Company, certain consultants to the Company and the Advisor and its affiliates or to entities that provide services to the Company. Prior to April 8, 2015 , the RSP provided for the automatic grant of 3,000 restricted shares of Common Stock to each of the independent directors, without any further action by the Company's board of directors or the stockholders, on the date of initial election to the board of directors and on the date of each annual stockholder's meeting. Restricted stock issued to independent directors will vest over a five -year period beginning on the first anniversary of the date of grant in increments of 20% per annum. On April 8, 2015 , the Company amended the RSP ("the Amended RSP"), among other things, to remove the fixed amount of shares that are automatically granted to the independent directors and remove the fixed vesting period of five years. Under the Amended RSP, the annual amount granted to the independent directors is determined by the board of directors. Effective upon the Listing Date, the Company’s board of directors approved the following changes to independent director compensation: (i) increasing in the annual retainer payable to all independent directors to $100,000 per year, (ii) increase in the annual retainer for the non-executive chair to $105,000 , (iii) increase in the annual retainer for independent directors serving on the audit committee, compensation committee or nominating and corporate governance committee to $30,000 . All annual retainers are payable 50% in the form of cash and 50% in the form of restricted stock units ("RSU") which vest over a three -year period. In addition, the directors have the option to elect to receive the cash component in the form of RSUs which would vest over a three-year period. Under the Amended RSP, restricted share awards entitle the recipient to receive shares of Common Stock from the Company under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. In connection with the Listing, the Company's board of directors also approved a one-time retention grant of 40,000 RSUs to each of the directors valued at $8.52 per unit, which vest over a five -year period. On July 13, 2015 , the Company granted an annual retainer to each of its independent directors comprising of 50% (or $0.1 million ) in cash and 50% (or 7,352 ) in RSUs which vest over a three -year period with the vesting period beginning on June 15, 2015. In addition, the Company granted $0.1 million in non executive chair compensation in cash and 50% (or 5,882 ) in RSUs which vest over a three -year period with the vesting period beginning on June 15, 2015 . Prior to April 8, 2015 , the total number of shares of Common Stock granted under the RSP could not exceed 5.0% of the Company's outstanding shares on a fully diluted basis at any time, and in any event could not exceed 7.5 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events). The Amended RSP increased the number of shares the Company's Common Stock, par value $0.01 per share, available for awards thereunder to 10% of the Company’s outstanding shares of Common Stock on a fully diluted basis at any time. The Amended RSP also eliminated the limit of 7.5 million shares of Common Stock permitted to be issued as RSUs. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash dividends prior to the time that the restrictions on the restricted shares have lapsed. Any dividends payable in common shares shall be subject to the same restrictions as the underlying restricted shares. The following table reflects restricted share award activity for the years ended December 31, 2015 , 2014 and 2013 . Number of Restricted Shares Weighted-Average Issue Price Unvested, December 31, 2012 9,000 $ 9.00 Granted 9,000 9.00 Vested (1,800 ) 9.00 Unvested, December 31, 2013 16,200 9.00 Granted 9,000 9.00 Vested (10,800 ) 9.00 Unvested, December 31, 2014 14,400 9.00 Granted prior to Listing Date (1) 3,000 9.00 One-time Listing Grant 160,000 8.52 Granted (2) 27,938 8.84 Vested (3) (17,400 ) 9.00 Unvested, December 31, 2015 187,938 $ 8.57 ____________________________ (1) Based on the original RSP in place prior to April 8, 2015 . (2) Based on the Amended RSP which provides an annual retainer to: (i) all independent directors; (ii) independent directors serving on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee; and (iii) the non-executive chair. (3) RSUs granted prior to April 8, 2015 vested immediately prior to the Listing. The fair value of the restricted shares granted prior to the Listing Date is based on the per share price in the IPO and the fair value of the restricted shares granted on or after the Listing Date is based on the market price of Common Stock as of the grant date, and is expensed over the vesting period. Compensation expense related to restricted stock was approximately $0.2 million , $0.1 million and $24,000 during the year s ended December 31, 2015 , 2014 and 2013 , respectively, and is recorded as equity based compensation during 2015 and general and administrative expenses during 2014 and 2013 in the accompanying consolidated statements of operations. As of December 31, 2015 , the Company had $1.4 million of unrecognized compensation cost related to unvested restricted share awards granted under the Company’s RSP. That cost is expected to be recognized over a weighted average period of 4.2 years . Multi-Year Outperformance Agreement In connection with the Listing, the Company entered into the OPP with the OP and the Advisor. Under the OPP, the Advisor was issued 9,041,801 LTIP Units in the OP with a maximum award value on the issuance date equal to 5.00% of the Company’s market capitalization (the “OPP Cap”). The LTIP Units are structured as profits interests in the OP. The Advisor will be eligible to earn a number of LTIP Units with a value equal to a portion of the OPP Cap upon the first, second and third anniversaries of the Effective Date, which is the Listing Date, June 2, 2015 , based on the Company’s achievement of certain levels of total return to its stockholders (“Total Return”), including both share price appreciation and Common Stock dividends, as measured against a peer group of companies, as set forth below, for the three-year performance period commencing on the Effective Date (the “ Three -Year Period”); each 12-month period during the Three -Year Period (the “ One -Year Periods”); and the initial 24-month period of the Three -Year Period (the “ Two -Year Period”), as follows: Performance Period Annual Period Interim Period Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period: 21% 7% 14% Relative Component: 4% of any excess Total Return attained above the Total Return for the performance period of the Peer Group*, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period: • 100% will be earned if cumulative Total Return achieved is at least: 18% 6% 12% • 50% will be earned if cumulative Total Return achieved is: —% —% —% • 0% will be earned if cumulative Total Return achieved is less than: —% —% —% • a percentage from 50% to 100% calculated by linear interpolation will be earned if the cumulative Total Return achieved is between: 0% - 18% 0% - 6% 0% - 12% __________________________________ * The “Peer Group” is comprised of Gramercy Property Trust Inc., Lexington Realty Trust, Select Income REIT, and W.P. Carey Inc. The potential outperformance award is calculated at the end of each One -Year Period, the Two -Year Period and the Three -Year Period. The award earned for the Three -Year Period is based on the formula in the table above less any awards earned for the Two -Year Period and One -Year Periods, but not less than zero; the award earned for the Two -Year Period is based on the formula in the table above less any award earned for the first and second One -Year Period, but not less than zero. Any LTIP Units that are unearned at the end of the Performance Period will be forfeited. Subject to the Advisor’s continued service through each vesting date, one third of any earned LTIP Units will vest on each of the third, fourth and fifth anniversaries of the Effective Date. Any earned and vested LTIP Units may be converted into OP Units in accordance with the terms and conditions of the limited partnership agreement of the OP. The OPP provides for early calculation of LTIP Units earned and for the accelerated vesting of any earned LTIP Units in the event Advisor is terminated or in the event the Company incurs a change in control, in either case prior to the end of the Three -Year Period. The Company records equity based compensation expense associated with the awards over the requisite service period of five years on a graded vesting basis. Equity-based compensation expense is adjusted each reporting period for changes in the estimated market-related performance. Compensation expense related to the OPP was $2.2 million for the year ended December 31, 2015 . There was no compensation expense related to the OPP for the year ended December 31, 2014 . Subject to the Advisor’s continued service through each vesting date, one third of any earned LTIP Units will vest on each of the third, fourth and fifth anniversaries of the Effective Date. Until such time as an LTIP Unit is earned in accordance with the provisions of the OPP, the holder of such LTIP Unit is entitled to dividends on such LTIP Unit equal to 10% of the distributions made per OP Unit. The Company has accrued $0.4 million in distributions related to LTIP Units during the year ended December 31, 2015 , which is included in non-controlling interest in the consolidated balance sheets. After an LTIP Unit is earned, the holder of such LTIP Unit is entitled to a catch-up distribution and then the same distributions as the holders of an OP Unit. At the time the Advisor’s capital account with respect to an LTIP Unit is economically equivalent to the average capital account balance of an OP Unit, the LTIP Unit has been earned and it has been vested for 30 days , the Advisor, in its sole discretion, will be entitled to convert such LTIP Unit into an OP Unit in accordance with the provisions of the limited partnership agreement of the OP. The OPP provides for early calculation of LTIP Units earned and for the accelerated vesting of any earned LTIP Units in the event Advisor is terminated by the Company or in the event the Company incurs a change in control, in either case prior to the end of the Three -Year Period. On February 25, 2016 , the OPP was amended and restated to reflect the merger of two of the companies in the peer group. Other Share-Based Compensation The Company may issue Common Stock in lieu of cash to pay fees earned by the Company's directors at each director's election. There are no restrictions on the shares issued since these payments in lieu of cash relate to fees earned for services performed. There were no such shares of Common Stock issued in lieu of cash during the year ended December 31, 2015 and 2013 . There were 1,056 such shares of Common Stock issued in lieu of cash during the year ended December 31, 2014 which resulted in additional share based compensation of $10,000 .

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a summary of the basic and diluted net income (loss) per share computation for the year s ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, (In thousands, except share and per share data) 2015 2014 2013 Net loss attributable to stockholders $ (2,065 ) $ (53,594 ) $ (6,989 ) Adjustments to net income (loss) attributable to stockholders for common share equivalents (442 ) — — Adjusted net loss attributable to stockholders (2,507 ) (53,594 ) (6,989 ) Basic and diluted net loss per share (0.01 ) $ (0.43 ) $ (1.28 ) Basic and diluted weighted average shares outstanding 174,309,894 126,079,369 5,453,404 Under current authoritative guidance for determining earnings per share, all nonvested share-based payment awards that contain non-forfeitable rights to distributions are considered to be participating securities and therefore are included in the computation of earnings per share under the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common shares and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Our nonvested RSUs and LTIPs contain rights to receive non-forfeitable distributions and therefore we apply the two-class method of computing earnings per share. The calculation of earnings per share below excludes the non-forfeitable distributions to the nonvested RSUs and LTIPs from the numerator. Diluted net income (loss) per share assumes the conversion of all Common Stocks share equivalents into an equivalent number of common shares, unless the effect is anti-dilutive. The Company considers unvested restricted stock, OP Units (excluding converted Class B units) and LTIP Units to be common share equivalents. For the years ended December 31, 2015 , 2014 and 2013 , the following common share equivalents were excluded from the calculation of diluted earnings per share: December 31, 2015 2014 2013 Unvested restricted stock 187,938 14,400 16,200 OP Units (1) 1,809,678 22 22 Class B units — 705,743 23,392 OPP (LTIP Units) 9,041,801 — — Total anti-dilutive common share equivalents 11,039,417 720,165 39,614 (1) OP Units included 1,726,323 of converted Class B units on Listing, 83,333 OP Units issued to the Advisor, and 22 OP Units issued to the Special Limited Partner. Conditionally issuable shares relating to the OPP award (See Note 13 — Share Based Compensation) would be included in the computation of fully diluted EPS (if dilutive) based on shares that would be issued if the balance sheet date were the end of the measurement period. No LTIP share equivalents were included in the computation for the year ended December 31, 2015 because no units or shares would have been issued based on the stock price at December 31, 2015 .

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) Presented below is a summary of the unaudited quarterly financial information for years ended December 31, 2015 and 2014 : (In thousands, except share and per share data) Quarters Ended 2015 March 31, (1) June 30, September 30, (2) December 31, (3) Total revenue $ 49,969 $ 49,068 $ 50,252 $ 56,043 Net income (loss) attributable to stockholders 25,855 (45,664 ) 5,432 12,312 Adjustments to net income (loss) attributable to stockholders for common share equivalents — — (249 ) (193 ) Adjusted net income (loss) attributable to stockholders $ 25,855 $ (45,664 ) $ 5,183 $ 12,119 Basic and diluted weighted average shares outstanding 179,156,462 180,380,436 168,948,345 168,936,633 Basic and diluted net income (loss) per share attributable to stockholders $ 0.14 $ (0.25 ) $ 0.03 $ 0.07 (In thousands, except share and per share data) Quarters Ended 2014 March 31, June 30, September 30, December 31, Total revenue $ 7,547 $ 13,628 $ 25,902 $ 46,306 Net loss $ (16,349 ) $ (7,479 ) $ (24,558 ) $ (5,208 ) Basic and diluted weighted average shares outstanding 37,602,790 111,819,848 175,401,867 177,414,574 Basic and diluted net loss per share $ (0.43 ) $ (0.07 ) $ (0.14 ) $ (0.03 ) _______________________ (1) As discussed in Note 2 — Summary of Significant Accounting Policies, the Company reflected adjustments in the three months periods ended March 31, 2015 and December 31, 2015 to correct errors in straight line rent and taxes relating to fiscal 2014. (2) The Company identified errors in accounting for certain cross currency derivatives that were no longer designated as hedges subsequent to their restructuring on February 4, 2015 (see Note 8 — Derivatives and Hedging Activities) where gains that should have been included in net income (loss) were instead included in other comprehensive income (loss) of approximately $0.5 million and $0.6 million during the thee month periods ended March 31, 2015 and June 30, 2015, respectively. The Company has concluded that these adjustments are not material to the financial position or results of operations for the current period or any of the respective prior periods, accordingly, the Company recorded the additional gains on these non-designated derivative instruments of $1.1 million during the three month period ended September 30, 2015. (3) During the fourth quarter of 2015, the Company recorded an out-of-period adjustment to correct for an error identified in accounting for certain accrued operating expense reimbursement revenue totaling approximately $1.0 million , of which approximately $0.4 million , $0.3 million and $0.3 million related to three month periods ended March 31, 2015, June 30, 2015 and September 30, 2015, respectively. The Company concluded that this adjustment was not material to its financial position and results of operations for the current period or any of the prior periods, accordingly, the Company reversed the accrued operating expense reimbursement revenue of $1.0 million during the three month period ended December 31, 2015.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the filing of this Annual Report on Form 10-K, and determined that there have not been any events that have occurred that would require adjustments to, or disclosures in, the consolidated financial statements, except for as previously disclosed.

Schedule III

Schedule III	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation Schedule III	Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Date Encumbrances at December 31, 2015 Land Building and Improvements Land Building and Improvements Gross Amount at December 31, 2015 (1)(2) Accumulated Depreciation (3)(4) McDonalds Corporation Carlisle UK Oct. 2012 $ 1,125 $ 475 $ 1,109 $ — $ — $ 1,584 $ 203 Wickes Blackpool UK May 2013 2,882 1,999 2,147 — — 4,146 275 Everything Everywhere Merthyr Tydfil UK Jun. 2013 5,922 4,071 2,591 — — 6,662 323 Thames Water Swindon UK Jul. 2013 8,882 4,071 4,811 — — 8,882 561 Wickes Tunstall UK Jul. 2013 2,443 1,036 2,369 — — 3,405 275 PPD Global Labs Highland Heights KY Aug. 2013 — 2,001 6,002 — — 8,003 758 Northern Rock Sunderland UK Sep. 2013 7,772 1,480 5,181 — — 6,661 583 Kulicke & Soffa Fort Washington PA Sep. 2013 — 2,272 12,874 — — 15,146 1,449 Wickes Clifton UK Nov. 2013 2,813 1,480 2,073 — — 3,553 216 Con-Way Freight, Inc. Aurora NE Nov. 2013 — 295 1,670 — — 1,965 212 Con-Way Freight, Inc. Grand Rapids MI Nov. 2013 — 945 1,417 — — 2,362 180 Con-Way Freight, Inc. Riverton IL Nov. 2013 — 344 804 — — 1,148 102 Con-Way Freight, Inc. Salina KS Nov. 2013 — 461 1,843 — — 2,304 234 Con-Way Freight, Inc. Uhrichsville OH Nov. 2013 — 380 886 — — 1,266 113 Con-Way Freight, Inc. Vincennes IN Nov. 2013 — 220 712 — — 932 88 Con-Way Freight, Inc. Waite Park MN Nov. 2013 — 366 681 — — 1,047 87 Wolverine Howard City MI Dec. 2013 — 719 13,667 — — 14,386 1,667 Western Digital San Jose CA Dec. 2013 17,982 9,021 16,729 — — 25,750 1,616 Encanto Restaurants Baymon PR Dec. 2013 1,794 1,150 1,724 — — 2,874 191 Encanto Restaurants Caguas PR Dec. 2013 1,560 — 2,481 — — 2,481 275 Encanto Restaurants Carolina PR Dec. 2013 858 615 751 — — 1,366 83 Encanto Restaurants Carolina PR Dec. 2013 2,886 1,840 2,761 — — 4,601 306 Encanto Restaurants Guayama PR Dec. 2013 936 673 822 — — 1,495 91 Encanto Restaurants Mayaguez PR Dec. 2013 858 410 957 — — 1,367 106 Encanto Restaurants Ponce PR Dec. 2013 1,365 655 1,528 — — 2,183 169 Encanto Restaurants Ponce PR Dec. 2013 1,248 600 1,399 — — 1,999 161 Encanto Restaurants Puerto Neuvo PR Dec. 2013 507 — 782 — — 782 87 Encanto Restaurants Quebrada Arena PR Dec. 2013 1,505 844 1,565 — — 2,409 174 Encanto Restaurants Rio Piedras PR Dec. 2013 1,716 963 1,788 — — 2,751 198 Encanto Restaurants Rio Piedras PR Dec. 2013 1,053 505 1,179 — — 1,684 131 Encanto Restaurants San German PR Dec. 2013 702 391 726 — — 1,117 83 Encanto Restaurants San Juan PR Dec. 2013 975 389 1,168 — — 1,557 129 Encanto Restaurants San Juan PR Dec. 2013 1,716 1,235 1,509 — — 2,744 167 Encanto Restaurants San Juan PR Dec. 2013 483 153 612 — — 765 68 Encanto Restaurants Toa Baja PR Dec. 2013 429 68 616 — — 684 71 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Date Encumbrances at December 31, 2015 Land Building and Improvements Land Building and Improvements Gross Amount at December 31, 2015 (1)(2) Accumulated Depreciation (3)(4) Encanto Restaurants Vega Baja PR Dec. 2013 1,466 822 1,527 — — 2,349 169 Rheinmetall Neuss GER Jan. 2014 11,561 5,608 15,746 — — 21,354 855 GE Aviation Grand Rapids MI Jan. 2014 — 3,174 27,076 — — 30,250 1,442 Provident Financial Bradford UK Feb. 2014 18,875 1,493 27,702 — — 29,195 1,353 Crown Crest Leicester UK Feb. 2014 28,498 8,508 35,133 — — 43,641 1,956 Trane Davenport IA Feb. 2014 — 291 1,968 — — 2,259 118 Aviva Sheffield UK Mar. 2014 23,242 3,216 36,447 — — 39,663 1,758 DFS Trading Brigg UK Mar. 2014 3,136 1,503 4,261 — — 5,764 224 DFS Trading Carcroft UK Mar. 2014 1,737 343 2,462 — — 2,805 136 DFS Trading Carcroft UK Mar. 2014 3,741 1,263 5,003 — — 6,266 243 DFS Trading Darley Dale UK Mar. 2014 3,912 1,478 3,795 — — 5,273 203 DFS Trading Somercotes UK Mar. 2014 2,486 869 3,101 — — 3,970 196 Government Services Administration Fanklin TN Mar. 2014 — 4,160 30,083 — — 34,243 1,400 National Oilwell Varco Williston ND Mar. 2014 — 211 3,513 — — 3,724 221 Talk Talk Manchester UK Apr. 2014 5,662 868 10,323 — — 11,191 501 Government Services Administration Dover DE Apr. 2014 — 1,097 1,715 — — 2,812 86 Government Services Administration Germantown PA Apr. 2014 — 1,098 3,572 — — 4,670 160 OBI DIY Mayen GER Apr. 2014 4,908 1,222 7,295 — — 8,517 371 DFS Trading South Yorkshire UK Apr. 2014 1,328 — 1,548 — — 1,548 104 DFS Trading Yorkshire UK Apr. 2014 2,186 — 2,017 — — 2,017 91 Government Services Administration Dallas TX Apr. 2014 — 484 2,934 — — 3,418 131 Government Services Administration Mission TX Apr. 2014 — 618 3,145 — — 3,763 148 Government Services Administration International Falls MN May. 2014 — 350 11,182 — — 11,532 511 Indiana Department of Revenue Indianapolis IN May. 2014 — 891 7,677 — — 8,568 361 National Oilwell Varco (5) Pleasanton TX May. 2014 — 282 5,015 — — 5,297 118 Nissan Murfreesboro TN May. 2014 — 966 19,573 — — 20,539 813 Government Services Administration Lakewood CO Jun. 2014 — 1,220 7,928 — — 9,148 330 Lippert Components South Bend IN Jun. 2014 — 3,195 6,883 — — 10,078 293 Axon Energy Products Conroe TX Jun. 2014 — 826 6,132 — — 6,958 247 Axon Energy Products Houston TX Jun. 2014 — 416 5,186 — — 5,602 226 Axon Energy Products Houston TX Jun. 2014 — 294 2,310 — — 2,604 104 Bell Supply Co Carrizo Springs TX Jun. 2014 — 260 1,445 — — 1,705 75 Bell Supply Co Cleburne TX Jun. 2014 — 301 323 — — 624 19 Bell Supply Co Frierson LA Jun. 2014 — 260 1,054 — — 1,314 75 Bell Supply Co Gainesville TX Jun. 2014 — 131 1,420 — — 1,551 62 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Date Encumbrances at December 31, 2015 Land Building and Improvements Land Building and Improvements Gross Amount at December 31, 2015 (1)(2) Accumulated Depreciation (3)(4) Bell Supply Co Killdeer ND Jun. 2014 — 307 1,250 — — 1,557 63 Bell Supply Co Williston ND Jun. 2014 — 162 2,323 — — 2,485 105 GE Oil & Gas Canton OH Jun. 2014 — 437 3,039 — — 3,476 137 GE Oil & Gas Odessa TX Jun. 2014 — 1,611 3,322 — — 4,933 270 Lhoist Irving TX Jun. 2014 — 173 2,154 — — 2,327 114 Select Energy Services DeBerry TX Jun. 2014 — 533 7,551 — — 8,084 522 Select Energy Services Gainesville TX Jun. 2014 — 519 7,482 — — 8,001 307 Select Energy Services Victoria TX Jun. 2014 — 354 1,698 — — 2,052 91 Bell Supply Co Jacksboro TX Jun. 2014 — 51 657 — — 708 45 Bell Supply Co Kenedy TX Jun. 2014 — 190 1,669 — — 1,859 90 Select Energy Services Alice TX Jun. 2014 — 518 1,331 — — 1,849 62 Select Energy Services Dilley TX Jun. 2014 — 429 1,777 — — 2,206 97 Select Energy Services Kenedy TX Jun. 2014 — 815 8,355 — — 9,170 392 Select Energy Services Laredo TX Jun. 2014 — 2,472 944 — — 3,416 66 Superior Energy Services Gainesville TX Jun. 2014 — 322 480 — — 802 20 Superior Energy Services Jacksboro TX Jun. 2014 — 408 312 — — 720 18 Amcor Packaging Workington UK Jun. 2014 4,628 1,289 7,597 — — 8,886 368 Government Services Administration Raton NM Jun. 2014 — 93 875 — — 968 39 Nimble Storage San Jose CA Jun. 2014 — 30,227 10,708 — 180 41,115 425 FedEx Amarillo TX Jul. 2014 — 889 6,421 — — 7,310 312 FedEx Chicopee MA Jul. 2014 — 1,030 7,022 — — 8,052 358 FedEx San Antonio TX Jul. 2014 — 3,283 17,729 — — 21,012 718 Sandoz Princeton NJ Jul. 2014 — 7,766 43,552 — — 51,318 2,223 Wyndham Branson MO Jul. 2014 — 881 3,307 — — 4,188 142 Valassis Livonia MI Jul. 2014 — 1,735 8,119 — — 9,854 319 Government Services Administration Fort Fairfield ME Jul. 2014 — 26 9,315 — — 9,341 337 AT&T Services, Inc. San Antonio TX Jul. 2014 33,550 5,312 41,201 — — 46,513 1,474 PNC Bank Erie PA Jul. 2014 — 242 6,195 — — 6,437 226 PNC Bank Scranton PA Jul. 2014 — 1,325 3,003 — — 4,328 113 Achmea Leusden NETH Jul. 2014 — 2,777 21,638 — — 24,415 778 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Continental Tire Fort Mill SC Jul. 2014 — 780 14,259 — — 15,039 520 Fujitsu Office Properties Manchester UK Jul. 2014 36,684 4,181 45,253 — — 49,434 1,675 BP Oil Wootton Bassett UK Aug. 2014 2,159 678 2,931 — — 3,609 115 HBOS Derby UK Aug. 2014 4,293 680 6,854 — — 7,534 279 HBOS St. Helens UK Aug. 2014 2,193 258 3,884 — — 4,142 159 HBOS Warrington UK Aug. 2014 1,493 492 2,320 — — 2,812 102 Malthurst Shiptonthorpe UK Aug. 2014 1,439 312 2,218 — — 2,530 96 Malthurst Yorkshire UK Aug. 2014 1,139 553 1,452 — — 2,005 82 Stanley Black & Decker Westerville OH Aug. 2014 — 958 6,933 — — 7,891 262 Thermo Fisher Kalamazoo MI Aug. 2014 — 1,176 10,179 — — 11,355 365 Capgemini Birmingham UK Aug. 2014 8,142 1,843 17,470 — — 19,313 649 Merck Madison NJ Aug. 2014 — 10,290 32,531 — — 42,821 1,106 Family Dollar Abbeville AL Aug. 2014 — 115 635 — — 750 28 Family Dollar Aiken SC Aug. 2014 — 439 505 — — 944 24 Family Dollar Alapaha GA Aug. 2014 — 200 492 — — 692 24 Family Dollar Anniston AL Aug. 2014 — 176 618 — — 794 26 Family Dollar Atlanta GA Aug. 2014 — 234 1,181 — — 1,415 45 Family Dollar Bossier City LA Aug. 2014 — 291 520 — — 811 22 Family Dollar Brandenburg KY Aug. 2014 — 178 748 — — 926 31 Family Dollar Brownfield TX Aug. 2014 — 31 664 — — 695 25 Family Dollar Brownsville TX Aug. 2014 — 83 803 — — 886 31 Family Dollar Caledonia MS Aug. 2014 — 415 162 — — 577 12 Family Dollar Camden SC Aug. 2014 — 187 608 — — 795 27 Family Dollar Camp Wood TX Aug. 2014 — 96 593 — — 689 26 Family Dollar Church Point LA Aug. 2014 — 247 563 — — 810 24 Family Dollar Columbia SC Aug. 2014 — 363 487 — — 850 24 Family Dollar Columbus MS Aug. 2014 — 305 85 — — 390 6 Family Dollar Danville VA Aug. 2014 — 124 660 — — 784 26 Family Dollar Detroit MI Aug. 2014 — 107 711 — — 818 25 Family Dollar Diamond Head MS Aug. 2014 — 104 834 — — 938 32 Family Dollar Eatonville FL Aug. 2014 — 332 584 — — 916 30 Family Dollar Falfurrias TX Aug. 2014 — 52 745 — — 797 26 Family Dollar Fayetteville NC Aug. 2014 — 100 437 — — 537 16 Family Dollar Fort Davis TX Aug. 2014 — 114 698 — — 812 31 Family Dollar Fort Madison IA Aug. 2014 — 188 226 — — 414 11 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Family Dollar Greenwood SC Aug. 2014 — 629 546 — — 1,175 22 Family Dollar Grenada MS Aug. 2014 — 346 335 — — 681 18 Family Dollar Griffin GA Aug. 2014 — 369 715 — — 1,084 31 Family Dollar Hallsville TX Aug. 2014 — 96 225 — — 321 8 Family Dollar Hardeeville SC Aug. 2014 — 83 663 — — 746 28 Family Dollar Hastings NE Aug. 2014 — 260 515 — — 775 20 Family Dollar Haw River NC Aug. 2014 — 310 554 — — 864 30 Family Dollar Jacksonville FL Aug. 2014 — 369 544 — — 913 24 Family Dollar Kansas City MO Aug. 2014 — 52 986 — — 1,038 33 Family Dollar Knoxville TN Aug. 2014 — 82 714 — — 796 29 Family Dollar La Feria TX Aug. 2014 — 124 956 — — 1,080 35 Family Dollar Lancaster SC Aug. 2014 — 229 721 — — 950 33 Family Dollar Lillian AL Aug. 2014 — 410 508 — — 918 22 Family Dollar Louisville KY Aug. 2014 — 511 503 — — 1,014 23 Family Dollar Louisville MS Aug. 2014 — 235 410 — — 645 20 Family Dollar Madisonville KY Aug. 2014 — 389 576 — — 965 25 Family Dollar Memphis TN Aug. 2014 — 356 507 — — 863 23 Family Dollar Memphis TN Aug. 2014 — 79 342 — — 421 16 Family Dollar Memphis TN Aug. 2014 — 158 301 — — 459 15 Family Dollar Mendenhall MS Aug. 2014 — 61 720 — — 781 28 Family Dollar Mobile AL Aug. 2014 — 258 682 — — 940 27 Family Dollar Mohave Valley AZ Aug. 2014 — 284 575 — — 859 30 Family Dollar N Platte NE Aug. 2014 — 117 255 — — 372 9 Family Dollar Nampa ID Aug. 2014 — 133 1,126 — — 1,259 43 Family Dollar Newberry MI Aug. 2014 — 172 1,562 — — 1,734 59 Family Dollar North Charleston SC Aug. 2014 — 376 588 — — 964 26 Family Dollar North Charleston SC Aug. 2014 — 458 593 — — 1,051 28 Family Dollar Oklahoma City OK Aug. 2014 — 144 1,211 — — 1,355 41 Family Dollar Orlando FL Aug. 2014 — 668 567 — — 1,235 26 Family Dollar Orlando FL Aug. 2014 — 501 769 — — 1,270 41 Family Dollar Paulden AZ Aug. 2014 — 468 306 — — 774 19 Family Dollar Pensacola FL Aug. 2014 — 123 541 — — 664 23 Family Dollar Poteet TX Aug. 2014 — 141 169 — — 310 11 Family Dollar Rockford IL Aug. 2014 — 183 1,179 — — 1,362 43 Family Dollar Roebuck SC Aug. 2014 — 306 508 — — 814 27 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Family Dollar San Angelo TX Aug. 2014 — 96 342 — — 438 15 Family Dollar St Louis MO Aug. 2014 — 226 1,325 — — 1,551 48 Family Dollar Tyler TX Aug. 2014 — 217 682 — — 899 25 Family Dollar Union MS Aug. 2014 — 52 622 — — 674 25 Family Dollar Williamston SC Aug. 2014 — 211 558 — — 769 25 Family Dollar Winter Haven FL Aug. 2014 — 486 437 — — 923 24 Family Dollar Winter Haven FL Aug. 2014 — 210 527 — — 737 29 Government Services Administration Rangeley ME Aug. 2014 — 1,377 5,008 — — 6,385 166 Garden Ridge Louisville KY Sep. 2014 — 3,994 4,865 — — 8,859 172 Garden Ridge Lubbock TX Sep. 2014 — 1,574 5,950 — — 7,524 237 Garden Ridge Mesa AZ Sep. 2014 — 2,727 4,867 — — 7,594 189 Garden Ridge Raleigh NC Sep. 2014 — 2,362 4,267 — — 6,629 168 Hewlett-Packard Newcastle UK Sep. 2014 13,748 1,273 21,193 — — 22,466 703 Intier Automotive Redditch UK Sep. 2014 6,995 1,314 10,407 — — 11,721 384 Waste Management Winston-Salem NC Sep. 2014 — 494 3,235 — — 3,729 110 FedEx Winona MN Sep. 2014 — 83 1,785 — — 1,868 69 Winston Hotel Amsterdam NETH Sep. 2014 — 7,657 4,049 — — 11,706 127 Dollar General Allen OK Sep. 2014 — 99 793 — — 892 28 Dollar General Allentown PA Sep. 2014 — 347 887 — — 1,234 41 Dollar General Caledonia OH Sep. 2014 — 110 861 — — 971 30 Dollar General Cherokee KS Sep. 2014 — 27 769 — — 796 28 Dollar General Choctaw OK Sep. 2014 — 247 859 — — 1,106 30 Dollar General Clearwater KS Sep. 2014 — 90 785 — — 875 28 Dollar General Dexter NM Sep. 2014 — 329 585 — — 914 21 Dollar General Elmore City OK Sep. 2014 — 21 742 — — 763 27 Dollar General Erie PA Sep. 2014 — 410 682 — — 1,092 27 Dollar General Eunice NM Sep. 2014 — 269 569 — — 838 21 Dollar General Gore OK Sep. 2014 — 143 813 — — 956 29 Dollar General Gratiot OH Sep. 2014 — 239 809 — — 1,048 29 Dollar General Greensburg PA Sep. 2014 — 97 970 — — 1,067 36 Dollar General Heavener OK Sep. 2014 — 99 998 — — 1,097 35 Dollar General Kingston OK Sep. 2014 — 81 778 — — 859 28 Dollar General Lordsburg NM Sep. 2014 — 212 719 — — 931 26 Dollar General Lyons KS Sep. 2014 — 120 970 — — 1,090 34 Dollar General Mansfield LA Sep. 2014 — 169 812 — — 981 29 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Dollar General McKean PA Sep. 2014 — 107 1,014 — — 1,121 37 Dollar General Muskogee OK Sep. 2014 — 154 771 — — 925 28 Dollar General Neligh NE Sep. 2014 — 83 1,045 — — 1,128 36 Dollar General New Florence PA Sep. 2014 — 70 940 — — 1,010 35 Dollar General New Paris OH Sep. 2014 — 411 488 — — 899 25 Dollar General Norman OK Sep. 2014 — 40 913 — — 953 32 Dollar General Painesville OH Sep. 2014 — 340 797 — — 1,137 28 Dollar General Painesville OH Sep. 2014 — 300 715 — — 1,015 26 Dollar General Peggs OK Sep. 2014 — 72 879 — — 951 31 Dollar General Santa Rosa NM Sep. 2014 — 324 575 — — 899 21 Dollar General Sapulpa OK Sep. 2014 — 143 745 — — 888 27 Dollar General Schuyler NE Sep. 2014 — 144 905 — — 1,049 32 Dollar General Spencerville OH Sep. 2014 — 213 928 — — 1,141 32 Dollar General Tahlequah OK Sep. 2014 — 132 925 — — 1,057 33 Dollar General Talihina OK Sep. 2014 — 163 1,023 — — 1,186 37 Dollar General Townville PA Sep. 2014 — 78 882 — — 960 33 Dollar General Uniontown PA Sep. 2014 — 165 1,107 — — 1,272 40 Dollar General Valley Falls KS Sep. 2014 — 51 922 — — 973 32 Dollar General Valliant OK Sep. 2014 — 183 1,004 — — 1,187 36 Dollar General Wymore NE Sep. 2014 — 21 872 — — 893 31 Dollar General Wynnewood OK Sep. 2014 — 188 1,057 — — 1,245 38 FedEx Bohemia NY Sep. 2014 — 4,838 19,596 — — 24,434 706 FedEx Watertown NY Sep. 2014 — 561 4,757 — — 5,318 181 Shaw Aero Naples FL Sep. 2014 — 998 22,332 — — 23,330 726 Mallinckrodt St. Louis MO Sep. 2014 — 1,499 16,828 — — 18,327 553 Kuka Warehouse Sterling Heights MI Sep. 2014 — 1,227 10,790 — — 12,017 354 Trinity Health Livonia MI Sep. 2014 — 8,953 28,464 — — 37,417 1,065 FedEx Hebron KY Sep. 2014 — 1,106 7,750 — — 8,856 269 FedEx Lexington KY Sep. 2014 — 1,118 7,961 — — 9,079 273 GE Aviation Cincinnati OH Sep. 2014 — 1,393 10,490 — — 11,883 345 Bradford & Bingley Bingley UK Oct. 2014 11,192 4,937 12,396 — — 17,333 441 DNV GL Dublin OH Oct. 2014 — 2,509 3,140 — — 5,649 108 Rexam Reckinghausen GER Oct. 2014 5,737 769 10,825 — — 11,594 336 C&J Energy Houston TX Oct. 2014 — 3,865 9,457 — — 13,322 310 FedEx Lake Charles LA Oct. 2014 — 255 7,485 — — 7,740 274 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Family Dollar Big Sandy TN Oct. 2014 — 62 739 — — 801 26 Family Dollar Boling TX Oct. 2014 — 80 781 — — 861 26 Family Dollar Bonifay FL Oct. 2014 — 103 673 — — 776 29 Family Dollar Brindidge AL Oct. 2014 — 89 749 — — 838 33 Family Dollar Brownsville TN Oct. 2014 — 155 776 — — 931 30 Family Dollar Buena Vista GA Oct. 2014 — 246 757 — — 1,003 40 Family Dollar Calvert TX Oct. 2014 — 91 777 — — 868 27 Family Dollar Chocowinty NC Oct. 2014 — 237 554 — — 791 21 Family Dollar Clarksville TN Oct. 2014 — 370 1,025 — — 1,395 42 Family Dollar Fort Mill SC Oct. 2014 — 556 757 — — 1,313 28 Family Dollar Hillsboro TX Oct. 2014 — 287 634 — — 921 23 Family Dollar Lake Charles LA Oct. 2014 — 295 737 — — 1,032 26 Family Dollar Lakeland FL Oct. 2014 — 300 812 — — 1,112 28 Family Dollar Lansing MI Oct. 2014 — 132 1,040 — — 1,172 42 Family Dollar Laurens SC Oct. 2014 — 303 584 — — 887 27 Family Dollar Marion MS Oct. 2014 — 183 747 — — 930 27 Family Dollar Marsing ID Oct. 2014 — 188 786 — — 974 35 Family Dollar Montgomery AL Oct. 2014 — 122 821 — — 943 37 Family Dollar Montgomery AL Oct. 2014 — 411 646 — — 1,057 32 Family Dollar Monticello FL Oct. 2014 — 230 695 — — 925 27 Family Dollar Monticello UT Oct. 2014 — 96 894 — — 990 41 Family Dollar North Little Rock AR Oct. 2014 — 424 649 — — 1,073 28 Family Dollar Oakdale LA Oct. 2014 — 243 696 — — 939 25 Family Dollar Orlando FL Oct. 2014 — 684 619 — — 1,303 25 Family Dollar Port St. Lucie FL Oct. 2014 — 403 907 — — 1,310 33 Family Dollar Prattville AL Oct. 2014 — 463 749 — — 1,212 38 Family Dollar Prichard AL Oct. 2014 — 241 803 — — 1,044 28 Family Dollar Quinlan TX Oct. 2014 — 74 774 — — 848 27 Family Dollar Rigeland MS Oct. 2014 — 447 891 — — 1,338 30 Family Dollar Rising Star TX Oct. 2014 — 63 674 — — 737 23 Family Dollar Southaven MS Oct. 2014 — 409 1,080 — — 1,489 40 Family Dollar Spout Springs NC Oct. 2014 — 474 676 — — 1,150 25 Family Dollar St. Petersburg FL Oct. 2014 — 482 851 — — 1,333 31 Family Dollar Swansboro NC Oct. 2014 — 337 826 — — 1,163 39 Panasonic Hudson NJ Oct. 2014 — 1,312 7,075 — — 8,387 218 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Onguard Havre De Grace MD Oct. 2014 — 2,216 6,585 — — 8,801 289 Axon Energy Products Houston TX Oct. 2014 — 297 2,432 — — 2,729 74 Metro Tonic Halle Peissen GER Oct. 2014 28,903 6,628 46,436 — — 53,064 1,595 Tokmanni Matsala FIN Nov. 2014 31,603 1,718 51,984 — — 53,702 1,684 Fife Council Dunfermline UK Nov. 2014 2,715 390 5,029 — — 5,419 158 Family Dollar Doerun GA Nov. 2014 — 236 717 — — 953 26 Family Dollar Old Hickory TN Nov. 2014 — 548 781 — — 1,329 30 Government Services Administration Rapid City SD Nov. 2014 — 504 7,837 — — 8,341 247 KPN BV Houten NETH Nov. 2014 — 1,538 18,812 — — 20,350 557 RWE AG Essen GER Nov. 2014 23,537 4,783 34,017 — — 38,800 936 RWE AG Essen GER Nov. 2014 28,508 11,712 41,179 — — 52,891 1,137 RWE AG Essen GER Nov. 2014 16,124 1,852 23,658 — — 25,510 654 Follett School McHenry IL Dec. 2014 — 3,423 15,600 — — 19,023 540 Quest Diagnostics, Inc. Santa Clarita CA Dec. 2014 52,800 10,714 69,018 — — 79,732 1,902 Family Dollar Tampa FL Dec. 2014 — 466 820 — — 1,286 28 Diebold North Canton OH Dec. 2014 — — 9,142 — — 9,142 283 Dollar General Chickasha OK Dec. 2014 — 248 1,293 — — 1,541 36 Weatherford International Odessa TX Dec. 2014 — 665 1,795 — — 2,460 80 AM Castle Wichita KS Dec. 2014 — 426 6,681 — — 7,107 169 FedEx Billerica MA Dec. 2014 — 1,138 6,674 — — 7,812 208 Constellium Auto Wayne MI Dec. 2014 — 1,180 21,656 — — 22,836 904 C&J Energy II Houston TX Mar. 2015 — 6,196 21,745 — — 27,941 472 Fedex VII Salina UT Mar. 2015 — 428 3,334 — — 3,762 101 Fedex VIII Pierre SD Apr. 2015 — — 3,288 — — 3,288 89 Fresenius Sumter SC May 2015 — 243 3,269 — — 3,512 62 Fresenius Hephzibah GA Jul. 2015 — 234 2,235 — — 2,469 33 Crown Group Jonesville MI Aug. 2015 — 101 3,136 — — 3,237 37 Crown Group Fraser MI Aug. 2015 — 350 3,865 — — 4,215 45 Crown Group Warren MI Aug. 2015 — 297 3,325 — — 3,622 39 Crown Group Marion SC Aug. 2015 — 386 7,993 — — 8,379 79 Crown Group Logansport IN Aug. 2015 — 1,843 5,430 — — 7,273 59 Crown Group Madison IN Aug. 2015 — 1,598 7,513 — — 9,111 69 Mapes & Sprowl Steel, Ltd. Elk Grove IL Sep. 2015 — 954 4,619 — — 5,573 42 JIT Steel Services Chattanooga TN Sep. 2015 — 316 1,986 — — 2,302 17 JIT Steel Services Chattanooga TN Sep. 2015 — 582 3,122 — — 3,704 28 Initial Costs Costs Capitalized Subsequent to Acquisition Portfolio City U.S. State or Country Acquisition Encumbrances at December 31, 2015 Land Building and Land Building and Gross Amount at (1)(2) Accumulated (3)(4) Beacon Health System, Inc. South Bend IN Sep. 2015 — 1,636 8,190 — — 9,826 58 Hannibal/Lex JV LLC Houston TX Sep. 2015 — 2,090 11,138 — — 13,228 73 FedEx Ground Mankato MN Sep. 2015 — 472 6,780 — — 7,252 57 Office Depot Venlo NETH Sep. 2015 — 3,401 15,043 — — 18,444 114 Finnair Helsinki FIN Sep. 2015 30,976 2,455 69,941 — — 72,396 475 Total $ 531,708 $ 341,911 $ 1,685,919 $ — $ 180 $ 2,028,010 $ 68,078 ___________________________________ (1) Acquired intangible lease assets allocated to individual properties in the amount of $518.3 million are not reflected in the table above. (2) The tax basis of aggregate land, buildings and improvements as of December 31, 2015 is $2.6 billion . (3) The accumulated depreciation column excludes approximately $65.3 million of amortization associated with acquired intangible lease assets. (4) Each of the properties has a depreciable life of: 40 years for buildings, 15 years for improvements and five years for fixtures. (5) The Company has expanded the property in September 2015 by purchasing additional land of $0.1 million , building and improvements of $3.4 million and an accumulated depreciation of $25,000 as of December 31, 2015 . A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2015 , 2014 and 2013 : December 31, 2015 2014 2013 Real estate investments, at cost: Balance at beginning of year $ 1,855,960 $ 149,009 $ 1,729 Additions-Acquisitions 226,412 1,748,944 147,245 Asset remeasurement 2,318 (675 ) — Currency translation adjustment (56,680 ) (41,318 ) 35 Balance at end of the year $ 2,028,010 $ 1,855,960 $ 149,009 Accumulated depreciation and amortization: Balance at beginning of year $ 21,319 $ 869 $ 12 Depreciation expense 47,649 20,856 837 Currency translation adjustment (890 ) (406 ) 20 Balance at end of the year $ 68,078 $ 21,319 $ 869

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The accompanying consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary. As of December 31, 2015 , the Company does not have any investments in variable interest entities ("VIE").
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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, real estate taxes, income taxes, derivative financial instruments, hedging activities, equity-based compensation expenses related to a Multi-Year Outperformance Agreement (the “OPP”) and fair value measurements, as applicable.
Offering and Related Costs	Offering and Related Costs Offering and related costs include all expenses incurred in connection with the Company's IPO. Offering costs (other than selling commissions and the Former Dealer Manager fees) include costs have been paid by the Advisor, the Former Dealer Manager or their affiliates on the Company's behalf. These costs include but are not limited to (i) legal, accounting, printing, mailing, and filing fees; (ii) escrow service related fees; (iii) reimbursement of the Former Dealer Manager for amounts it may pay to reimburse the bona fide diligence expenses of broker-dealers; and (iv) reimbursement to the Advisor for a portion of the costs of its employees and other costs in connection with preparing supplemental sales materials and related offering activities. The Company is obligated to reimburse the Advisor or its affiliates, as applicable, for organization and offering costs paid by them on the Company's behalf, provided that the Advisor is obligated to reimburse us to the extent organization and offering costs (excluding selling commissions and the Former Dealer Manager fee) incurred by the Company in its offering exceed 1.5% of gross offering proceeds in the IPO. As a result, these costs are only our liability to the extent aggregate selling commissions, the dealer manager fee and other organization and offering costs do not exceed 11.5% of the gross proceeds determined at the end of the IPO.
Revenue Recognition	Revenue Recognition The Company's revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. Because many of the Company's leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. As of December 31, 2015 and 2014 , the Company included unbilled cumulative straight line rents receivable in Prepaid expenses and other assets in the consolidated balance sheets of $23.1 million and $8.7 million , respectively. As of December 31, 2015 and 2014 , the Company’s rental revenue included impacts of unbilled rental revenue of $14.5 million and $8.5 million , respectively, to adjust contractual rent to straight line rent. The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company records an increase in the Company's allowance for uncollectible accounts or records a direct write-off of the receivable in the Company's consolidated statements of operations. Cost recoveries from tenants are included in operating expense reimbursement in the period the related costs are incurred, as applicable.
Investments in Real Estate	Investments in Real Estate Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. The Company evaluates the inputs, processes and outputs of each asset acquired to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statements of operations. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and subsequently amortized over the useful life of the acquired assets. In business combinations, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities and non-controlling interests based on their respective fair values. Tangible assets may include land, land improvements, buildings, fixtures and tenant improvements. Intangible assets or liabilities may include the value of in-place leases, above- and below- market leases and other identifiable assets or liabilities based on lease or property specific characteristics. In addition, any assumed mortgages receivable or payable and any assumed or issued non-controlling interests are recorded at their estimated fair values. In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above or below-market interest rates. Disposal of real estate investments that represent a strategic shift in operations that will have a major effect on the Company's operations and financial results are required to be presented as discontinued operations in the consolidated statements of operations. Properties that are intended to be sold are to be designated as “held for sale” on the consolidated balance sheets at the lesser of carrying amount or fair value less estimated selling costs when they meet specific criteria to be presented as held for sale. Properties are no longer depreciated when they are classified as held for sale. The Company didn't have any properties held for sale as of December 31, 2015 and 2014 . The Company evaluates the lease accounting for each new property acquired with existing or new lease and reviews for any capital lease criteria. A lease is classified by a tenant as a capital lease if the significant risks and rewards of ownership are considered to reside with the tenant. This situation is generally considered to be met if, among other things, the non-cancelable lease term is more than 75% of the useful life of the asset or if the present value of the minimum lease payments equals 90% or more of the leased property’s fair value at lease inception.
Depreciation and Amortization	Depreciation and Amortization Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and improvements and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. Capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. Capitalized below-market lease values are amortized as an increase to rental income over the remaining terms of the respective leases and expected below-market renewal option periods. Capitalized above-market ground lease values are amortized as a reduction of property operating expense over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property operating expense over the remaining terms of the respective leases and expected below-market renewal option periods. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to expense over the remaining periods of the respective leases. Assumed mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining terms of the respective mortgages.
Impairment of Long Lived Assets	Impairment of Long Lived Assets When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income (loss).
Purchase Price Allocation	Purchase Price Allocation The Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their respective fair values. Tangible assets include land, land improvements, buildings, fixtures and tenant improvements on an as-if vacant basis. The Company utilizes various estimates, processes and information to determine the as-if vacant property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and fixtures are based on cost segregation studies performed by independent third parties or on the Company's analysis of comparable properties in the Company's portfolio. Identifiable intangible assets include amounts allocated to acquire leases for above- and below-market lease rates, the value of in-place leases, and the value of customer relationships, as applicable. Factors considered in the analysis of the in-place lease intangibles include an estimate of carrying costs during the expected lease-up period for each property, taking into account current market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at contract rates during the expected lease-up period, which typically ranges from 12 to 18 months . The Company also estimates costs to execute similar leases including leasing commissions, legal and other related expenses. Above-market and below-market lease values for acquired properties are initially recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the remaining initial term plus the term of any below-market fixed rate renewal options for below-market leases. The capitalized above-market lease values are amortized as a reduction of base rental revenue over the remaining terms of the respective leases, and the capitalized below-market lease values are amortized as an increase to base rental revenue over the remaining initial terms plus the terms of any below-market fixed rate renewal options of the respective leases. If a tenant with a below market rent renewal does not renew, any remaining unamortized amount will be taken into income at that time. The aggregate value of intangible assets related to customer relationship, as applicable, is measured based on the Company's evaluation of the specific characteristics of each tenant’s lease and the Company's overall relationship with the tenant. Characteristics considered by the Company in determining these values include the nature and extent of its existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals, among other factors. The value of customer relationship intangibles is amortized to expense over the initial term and any renewal periods in the respective leases, but in no event does the amortization period for intangible assets exceed the remaining depreciable life of the building. If a tenant terminates its lease, the unamortized portion of the in-place lease value and customer relationship intangibles is charged to expense. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company's pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed.
Goodwill	Goodwill We evaluate goodwill for possible impairment at least annually or upon the occurrence of a triggering event. A triggering event is an event or circumstance that would more likely than not reduce the fair value of a reporting unit below its carrying amount. We performed a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. Based on our assessment we determined that the goodwill is not impaired as of December 31, 2015 and no further analysis is required.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less. The Company deposits cash with high quality financial institutions. Deposits in the United States and other countries where we have deposits are guaranteed by the Federal Deposit Insurance Company ("FDIC") in the United States, Financial Services Compensation Scheme ("FSCS") in the United Kingdom, Duchy Deposit Guarantee Scheme ("DDGS") in Luxembourg and by similar agencies in the other countries, up to insurance limits.
Restricted Cash	Restricted Cash Restricted cash primarily consists of debt service and real estate tax reserves.
Deferred Costs, Net	Deferred Costs, Net Deferred costs, net consists of deferred financing costs. Deferred financing costs represent commitment fees, legal fees, and other costs associated with obtaining commitments for financing. These costs are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Share Repurchase Program	Share Repurchase Program Prior to April 7, 2015 , the Company had in place a Share Repurchase Program ("SRP), providing for limited repurchases of the Company's Common Stock. On April 7, 2015 , the Company's board of directors approved the termination of the Company’s SRP.
Dividend Reinvestment Plan	Dividend Reinvestment Plan Prior to April 7, 2015 , the Company had in place a DRIP, providing for reinvestment of dividends in the Company's Common Stock. On April 7, 2015 , the Company suspended the DRIP. The final issuance of shares of Common Stock pursuant to the DRIP was made in May 2015 in connection with the Company's April 2015 dividend. Shares issued under the DRIP were recorded to equity in the accompanying consolidated balance sheets in the period dividends were declared.
Derivatives Instruments	Derivative Instruments The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. Certain of the Company's foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value of the Company's cash receipts and payments in the Company's functional currency, the U.S. dollar. The Company enters into derivative financial instruments to protect the value or fix the amount of certain obligations in terms of its functional currency. The Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designed and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any changes in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the consolidated statements of operations. If the derivative is designated and qualifies for hedge accounting treatment the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income (loss) to the extent that it is effective. Any ineffective portion of a derivative's change in fair value will be immediately recognized in earnings.
Share-based Compensation	Share-Based Compensation The Company has a stock-based incentive award plan for its directors, which is accounted for under the guidance for employee share based payments. The cost of services received in exchange for a stock award is measured at the grant date fair value of the award and the expense for such awards is included in equity based compensation on consolidated statements of operations and is recognized over the vesting period or when the requirements for exercise of the award have been met (see Note 13 — Share-Based Compensation).
Income Taxes	Income Taxes The Company qualified to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"), beginning with the taxable year ended December 31, 2013. Commencing with such taxable year, the Company was organized to operate in such a manner as to qualify for taxation as a REIT under the Code. The Company intends to continue to operate in such a manner to continue to qualify for taxation as a REIT, but no assurance can be given that it will operate in a manner so as to remain qualified as a REIT. As a REIT, the Company generally will not be subject to federal corporate income tax to the extent it distributes at least 90% of its REIT taxable income to its stockholders. REIT's are subject to a number of other organizational and operational requirements. We conduct business in various states and municipalities within the United States (including Puerto Rico), United Kingdom and continental Europe and, as a result, the Company or one of its subsidiaries file income tax returns in the United States federal jurisdiction and various state and certain foreign jurisdictions. As a result, the Company may be subject to certain federal, state, local and foreign taxes on our income and assets, including alternative minimum taxes, taxes on any undistributed income and state, local or foreign income, franchise, property and transfer taxes. Any of these taxes decrease Company's earnings and available cash. In addition, Company's international assets and operations, including those designated as direct or indirect qualified REIT subsidiaries or other disregarded entities of a REIT, continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted.During the period from July 13, 2011 (date of inception) to December 31, 2012, the Company elected to be taxed as a corporation, pursuant to which income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts and income tax basis of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards, using expected tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. The Company recognizes the financial statement effects of a tax position when it is more-likely-than-not, based on technical merits, that the position will be sustained upon examination. Because, the Company elected and qualified to be taxed as a REIT commencing with the taxable year ended December 31, 2013, it did not anticipate that any applicable deferred tax assets or liabilities will be realized. Significant judgment is required in determining our tax provision and in evaluating our tax positions. The Company establishes tax reserves based on a benefit recognition model, which the Company believes could result in a greater amount of benefit (and a lower amount of reserve) being initially recognized in certain circumstances. Provided that the tax position is deemed more likely than not of being sustained, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely of being ultimately realized upon settlement. The Company derecognizes the tax position when it is no longer more likely than not of being sustained. The Company recognizes deferred income taxes in certain of its subsidiaries taxable in the United States or in foreign jurisdictions. Deferred income taxes are generally the result of temporary differences (items that are treated differently for tax purposes than for U.S. GAAP purposes). In addition, deferred tax assets arise from unutilized tax net operating losses, generated in prior years. The Company provides a valuation allowance against its deferred income tax assets when it believes that it is more likely than not that all or some portion of the deferred income tax asset may not be realized. Whenever a change in circumstances causes a change in the estimated realizability of the related deferred income tax asset, the resulting increase or decrease in the valuation allowance is included in deferred income tax expense (benefit). The Company derives most of its REIT income from its real estate operations in the United States. As such, the Company's real estate operations are generally not subject to federal tax, and accordingly, no provision has been made for U.S. federal income taxes in the consolidated financial statements for these operations. These operations may be subject to certain state, local, and foreign taxes, as applicable. • Basis differences between tax and U.S. GAAP for certain international real estate investments. For income tax purposes, in certain acquisitions, the Company assumes the seller’s basis, or the carry-over basis, in the acquired assets. The carry-over basis is typically lower than the purchase price, or the U.S. GAAP basis, resulting in a deferred tax liability with an offsetting increase to goodwill or the acquired tangible or intangible assets; • Timing differences generated by differences in the U.S. GAAP basis and the tax basis of assets such as those related to capitalized acquisition costs and depreciation expense; and • Tax net operating losses in certain subsidiaries, including those domiciled in foreign jurisdictions, that may be realized in future periods if the respective subsidiary generates sufficient taxable income. The Company’s current income tax provision for the years ended December 31, 2015 and 2014 was $5.1 million and $0.7 million , respectively. The Company’s deferred income tax provision (benefit) for the years ended December 31, 2015 and 2014 was $0.8 million and $(2.1) million , respectively. The deferred tax assets included in the consolidated balance sheets is net of a valuation allowance in the amounts of $4.3 million and $3.9 million as of December 31, 2015 and 2014 , respectively. The Company recognizes current income tax expense for state and local income taxes and taxes incurred in its foreign jurisdictions. The Company's current income tax expense fluctuates from period to period based primarily on the timing of our taxable income. For the years ended December 31, 2015 and 2014 , the Company recognized an income tax (expense) benefit of $(5.9) million and $1.4 million , respectively. Deferred income tax (expense) benefit is generally a function of the period’s temporary differences and the utilization of net operating losses generated in prior years that had been previously recognized as deferred income tax assets from state and local taxes in the United States or in foreign jurisdictions. The amount of dividends payable to the Company's stockholders is determined by the board of directors and is dependent on a number of factors, including funds available for distributions, financial condition, capital expenditure requirements, as applicable, and annual dividend requirements needed to qualify and maintain the Company's status as a REIT under the Code.
Foreign Currency Transaction	Foreign Currency Translation The Company's reporting currency is the U.S. dollar. The functional currency of the Company's foreign operations is the applicable local currency for each foreign subsidiary. Assets and liabilities of foreign subsidiaries (including intercompany balances for which settlement is not anticipated in the foreseeable future) are translated at the spot rate in effect at the applicable reporting date. The amounts reported in the consolidated statements of operations are translated at the average exchange rates in effect during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in the consolidated statements of changes in equity.
Per Share Data	Per Share Data The Company calculates basic earnings per share of Common Stock by dividing net income (loss) for the period by weighted-average shares of its Common Stock outstanding for a respective period. Diluted income per share takes into account the effect of dilutive instruments such as unvested restricted stock, long term incentive plan ("LTIP") units and OP units, based on the average share price for the period in determining the number of incremental shares that are to be added to the weighted-average number of shares outstanding (see Note 13 — Share-Based Compensation).
Reportable Segments	Reportable Segments The Company has determined that it has one reportable segment, with activities related to investing in real estate. The Company’s investments in real estate generate rental revenue and other income through the leasing of properties, which comprise 100% of total consolidated revenues. Management evaluates the operating performance of the Company’s investments in real estate on an individual property level.
Reclassifications	Reclassifications Certain reclassifications have been made to the 2014 consolidated financial statements to conform to the current period presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted: In April 2014, FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2015, and has applied the provisions prospectively. The adoption of this guidance has not had a material impact on the Company's consolidated financial position, results of operations or cash flows. In August 2014, the FASB issued ASU 2014-15, Disclosures of Uncertainties about an Entities Ability to Continue as a Going Concern, which requires management to assess a company’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The assessment is required for each annual and interim reporting period. Management’s assessment should evaluate whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. Substantial doubt is deemed to exist when it is probable that the company will be unable to meet its obligations within one year from the financial statement issuance date. If conditions or events give rise to substantial doubt about the entity's ability to continue as a going concern, the guidance requires management to disclose information that enables users of the financial statements to understand the conditions or events that raised the substantial doubt, management's evaluation of the significance of the conditions or events that led to the doubt, the entity’s ability to continue as a going concern and management’s plans that are intended to mitigate or that have mitigated the conditions or events that raised substantial doubt about the entity's ability to continue as a going concern. The guidance is effective for the annual period ending after December 15, 2016 and for annual and interim periods thereafter. The Company has elected to adopt the provisions of this guidance effective December 31, 2014, as early application is permitted. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows. Pending Adoption: In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance allows entities to apply either a full retrospective or modified retrospective transition method upon adoption. In July 2015, the FASB finalized a one-year delay of the revised guidance, although entities will be allowed to early adopt the guidance as of the original effective date. The new guidance will be effective in the Company's 2018 fiscal year. The Company is currently evaluating the impact of the revised guidance on the consolidated financial statements and has not yet determined the method by which the Company will adopt the standard. In February 2015, the FASB issued ASU 2015-02 Consolidation (Topic 810) - Amendments to the Consolidation Analysis . The new guidance applies to entities in all industries and provides a new scope exception to registered money market funds and similar unregistered money market funds. It makes targeted amendments to the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The standard does not add or remove any of the characteristics that determine if an entity is a VIE. However, when decision-making over the entity’s most significant activities has been outsourced, the standard changes how a reporting entity assesses if the equity holders at risk lack decision making rights. Previously, the reporting entity would be required to determine if there is a single equity holder that is able to remove the outsourced decision maker that has a variable interest. The new standard requires that the reporting entity first consider the rights of all of the equity holders at risk. If the equity holders have certain rights that are deemed to give them the power to direct the entity’s most significant activities, then the entity does not have this VIE characteristic. The new standard also introduces a separate analysis specific to limited partnerships and similar entities for assessing if the equity holders at risk lack decision making rights. Limited partnerships and similar entities will be VIEs unless the limited partners hold substantive kick-out rights or participating rights. In order for such rights to be substantive, they must be exercisable by a simple majority vote (or less) of all of the partners (exclusive of the general partner and its related parties). A right to liquidate an entity is viewed as akin to a kick-out right. The guidance for limited partnerships under the voting model has been eliminated in conjunction with the introduction of this separate analysis, including the rebuttable presumption that a general partner unilaterally controls a limited partnership and should therefore consolidate it. A limited partner with a controlling financial interest obtained through substantive kick out rights would consolidate a limited partnership. The standard eliminates certain of the criteria that must be met for an outsourced decision maker or service provider’s fee arrangement to not be a variable interest. Under current guidance, a reporting entity first assesses whether it meets power and economics tests based solely on its own variable interests in the entity to determine if it is the primary beneficiary required to consolidate the VIE. Under the new standard, a reporting entity that meets the power test will also include indirect interests held through related parties on a proportionate basis to determine whether it meets the economics test and is the primary beneficiary on a standalone basis. The standard is effective for annual periods beginning after December 15, 2015. Early adoption is allowed, including in any interim period. The Company will adopt the new guidance in fiscal 2016 and believes the guidance will not have a material impact on its consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03 Interest-Imputation of Interest (Subtopic 835-30). The guidance changes the presentation of debt issuance costs on the balance sheet. The amendments require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted for financial statements that have not previously been issued. If the Company decides to early adopt the revised guidance in an interim period, any adjustments will be reflected as of the beginning of the fiscal year that includes the interim period. The Company will adopt the new guidance in fiscal 2016 and believes the guidance will not have a material impact on its consolidated financial position, results of operations or cash flows. In August 2015, FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which amends ASC 835-30, Interest - Imputation of Interest . This update clarifies the presentation and subsequent measurement of debt issuance costs associated with lines of credit. These costs may be deferred and presented as an asset and subsequently amortized ratably over the term of the revolving debt arrangement. In September 2015, the FASB issued ASU 2015-16 Business Combination (Topic 805) . The guidance eliminates the requirement to adjust provisional amounts from a business combination and the related impact on earnings by restating prior period financial statements for measurement period adjustments. The new guidance requires that the cumulative impact of measurement period adjustments on current and prior periods, including the prior period impact on depreciation, amortization and other income statement items and their related tax effects, shall be recognized in the period the adjustment amount is determined. The cumulative adjustment would be reflected within the respective financial statement line items affected. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The Company will adopt the new guidance in fiscal 2016 and believes the guidance will not have a material impact on its consolidated financial position, results of operations or cash flows. In January 2016, the FASB issued ASU 2016-01 Financial Instruments-Overall:Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10). The revised guidance amends the recognition and measurement of financial instruments. The new guidance significantly revises an entity’s accounting related to equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. Among other things, it also amends the presentation and disclosure requirements associated with the fair value of financial instruments. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is not permitted for most of the amendments in the update. The Company is currently evaluating the impact of the new guidance.
Fair Value of Financial Instruments	The Company determines fair value based on quoted prices when available or through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. This alternative approach also reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The guidance defines three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date. Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability. Level 3 — Unobservable inputs that reflect the entity's own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques. The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures each quarter and depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter, however, the Company expects that changes in classifications between levels will be rare. 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. As of December 31, 2015 and 2014 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of 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. The valuation of derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and implied volatilities. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company's potential nonperformance risk and the performance risk of the counterparties.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Finite-lived Intangible Assets Amortization Expense	Intangible assets and acquired lease liabilities consist of following: December 31, (In thousands) 2015 2014 Intangible assets: In-place leases, net of accumulated amortization of $61,857 and $20,131 at December 31, 2015 and 2014, respectively $ 426,434 $ 435,684 Above-market leases, net of accumulated amortization of $3,279 and $1,086 at December 31, 2015 and 2014, respectively 22,322 26,329 Below-market ground leases, net of accumulated amortization of $115 and $32 at December 31, 2015, and 2014, respectively 4,287 817 Total intangible lease assets, net $ 453,043 $ 462,830 Intangible liabilities: Below-market leases, net of accumulated amortization of $3,296 and $1,211 at December 31, 2015 and 2014, respectively $ 25,984 $ 21,676 Above-market ground leases, net of accumulated amortization of $15 and $0 at December 31, 2015 and 2014, respectively 1,994 $ — Total intangible lease liabilities, net $ 27,978 $ 21,676
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table provides the weighted-average amortization periods as of December 31, 2015 for intangible assets and liabilities and the projected amortization expense and adjustments to revenues and property operating expense for the next five calendar years: (In thousands) Weighted-Average Amortization Years 2016 2017 2018 2019 2020 In-place leases 10.4 $ 44,665 $ 44,665 $ 44,665 $ 44,665 $ 44,505 Total to be included in depreciation and amortization $ 44,665 $ 44,665 $ 44,665 $ 44,665 $ 44,505 Above-market lease assets 10.5 $ 2,271 $ 2,271 $ 2,271 $ 2,271 $ 2,271 Below-market lease liabilities 11.5 (2,527 ) (2,527 ) (2,527 ) (2,527 ) (2,502 ) Total to be included in rental income $ (256 ) $ (256 ) $ (256 ) $ (256 ) $ (231 ) Below-market ground lease assets 29.2 $ 195 $ 195 $ 195 $ 195 $ 195 Above-market ground lease liabilities 33.7 (59 ) (59 ) (59 ) (59 ) (59 ) Total to be included in property operating expense $ 136 $ 136 $ 136 $ 136 $ 136
Schedule of Distributions From Tax Perspective	The following table details from a tax perspective, the portion of a distribution classified as return of capital and ordinary dividend income, per share per annum, for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, (In thousands) December 31, 2015 December 31, 2014 December 31, 2013 Return of capital 63.1 % $ 0.45 70.4 % $ 0.50 51.7 % $ 0.37 Ordinary dividend income 36.9 % 0.26 29.6 % $ 0.21 48.3 % 0.34 Total 100.0 % $ 0.71 100.0 % $ 0.71 100.0 % $ 0.71
Schedule of Real Estate Investments by Location	The following tables present the geographic information (in thousands): Year Ended December 31, (In thousands) 2015 2014 2013 (1) Revenues United States $ 130,598 $ 65,651 $ 1,132 United Kingdom 40,830 18,199 2,819 Europe 33,904 9,533 — Total $ 205,332 $ 93,383 $ 3,951 _________________________ (1) The Company did not own any properties denominated in Euro as of December 31, 2013 , and as such there were no revenues or Net Investments in Real Estate in this denomination for that period. As of December 31, (In thousands) 2015 2014 Investments in Real Estate United States $ 1,610,720 $ 1,446,604 United Kingdom 441,586 466,292 Europe 493,998 427,143 Total $ 2,546,304 $ 2,340,039

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Schedule of Real Estate Properties	The following table reflects the number and related base purchase prices of properties acquired as of December 31, 2014 and during the year ended December 31, 2015 : Number of Properties Base Purchase Price (1) (In thousands) As of December 31, 2014 307 $ 2,378,554 Twelve months ended December 31, 2015 22 255,008 Portfolio as of December 31, 2015 329 $ 2,633,562 ________________________________________________ (1) Contract purchase price, excluding acquisition related costs, based on the exchange rate at the time of purchase, where applicable.
Schedule of Business Acquisitions, by Acquisition	The following table presents the allocation of the assets acquired and liabilities assumed during the years ended December 31, 2015 , 2014 and 2013 based on contract purchase price, excluding acquisition related costs, based on the exchange rate at the time of purchase. Year Ended December 31, (1) (Dollar amounts in thousands) 2015 2014 2013 Real estate investments, at cost: Land $ 23,865 $ 288,376 $ 44,118 Buildings, fixtures and improvements 192,052 1,450,862 103,127 Total tangible assets 215,917 1,739,238 147,245 Intangibles acquired: In-place leases 44,241 418,419 44,865 Above market lease assets 1,007 26,711 2,159 Below market lease liabilities (7,449 ) (17,513 ) (5,983 ) Below market ground lease assets 3,363 901 — Above market ground lease liabilities (2,071 ) — — Goodwill — 3,665 — Total assets acquired, net 255,008 2,171,421 188,286 Mortgage notes payable used to acquire real estate investments (31,933 ) (217,791 ) (75,651 ) Credit facility borrowings used to acquire real estate investments — (446,558 ) — Other liabilities assumed — — (1,664 ) Cash paid for acquired real estate investments $ 223,075 $ 1,507,072 $ 110,971 Number of properties purchased 22 270 36
Business Acquisition, Pro Forma Information	The following table presents unaudited pro forma information as if the acquisitions during the year ended December 31, 2015 , had been consummated on January 1, 2014. Additionally, the unaudited pro forma net income (loss) attributable to stockholders was adjusted to exclude acquisition and transaction related expense of $6.1 million for the year ended December 31, 2015 to the year ended December 31, 2014 . Such acquisition and transaction related expenses have been reflected in the year ended December 31, 2014 as if such acquisitions costs had been consummated on January 1, 2014 . Year Ended December 31, (In thousands) 2015 2014 Pro forma revenues $ 219,932 $ 227,134 Pro forma net income (loss) $ 9,716 $ 58,456 Pro forma basic and diluted net income (loss) per share $ 0.06 $ 0.46
Schedule of Future Minimum Rental Payments for Operating Leases	The following presents future minimum base rental cash payments due to the Company during the next five calendar years and thereafter as of December 31, 2015 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indices among other items. (In thousands) Future Minimum Base Rent Payments (1) 2016 $ 195,718 2017 199,195 2018 201,720 2019 204,203 2020 206,384 Thereafter 1,151,118 Total $ 2,158,338 Future minimum rental payments to be made by the Company under these noncancelable ground leases, excluding increases resulting from increases in the consumer price index, are as follows: (In thousands) Future Ground Lease Payments 2016 $ 1,306 2017 1,307 2018 1,307 2019 1,307 2020 1,307 2021 1,307 Thereafter 41,251 Total $ 49,092
Schedule of Annualized Rental Income by Major Tenants	The following table lists the tenants whose annualized rental income on a straight-line basis represented 10% or greater of consolidated annualized rental income on a straight-line basis for all properties as of December 31, 2015 , 2014 and 2013 . December 31, Tenant 2015 2014 2013 Encanto Restaurants, Inc. * * 19.4% Western Digital Corporation * * 14.6% Thames Water Utilities Limited * * 11.7% ___________________________________________ * Tenant's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The following table lists the countries and states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented greater than 10% of consolidated annualized rental income on a straight-line basis as of December 31, 2015 , 2014 and 2013 . December 31, Country 2015 2014 2013 Germany * 10.9% * Puerto Rico * * 19.4% United Kingdom 19.2% 22.0% 38.4% United States: California * * 14.6% Texas 11.5% 10.4% * ___________________________________________ * Geography's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified.

Mortgage Note Payable (Tables)

Mortgage Note Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Mortgage notes payable as of December 31, 2015 and 2014 consisted of the following: Encumbered Properties Outstanding Loan Amount (1) Effective Interest Rate Interest Rate Country Portfolio December 31, 2015 December 31, 2014 Maturity (In thousands) (In thousands) Finland: Finnair 4 $ 30,976 $ — 2.2% (2) Fixed Sep. 2020 Tokmanni 1 31,603 — 2.4% (2) Fixed Oct. 2020 Germany: Rheinmetall 1 11,561 12,884 2.6% (2) Fixed Jan. 2019 OBI DIY 1 4,908 5,470 2.4% Fixed Jan. 2019 RWE AG 3 68,169 75,969 1.6% (2) Fixed Oct. 2019 Rexam 1 5,737 6,394 1.8% (2) Fixed Oct. 2019 Metro Tonic 1 28,904 32,211 1.7% (2) Fixed Dec. 2019 Total EUR denominated 12 181,858 132,928 United Kingdom: McDonald's 1 1,125 1,180 4.1% (2) Fixed Oct. 2017 Wickes Building Supplies I 1 2,882 3,024 3.7% (2) Fixed May 2018 Everything Everywhere 1 5,922 6,213 4.0% (2) Fixed Jun. 2018 Thames Water 1 8,882 9,319 4.1% (2) Fixed Jul. 2018 Wickes Building Supplies II 1 2,443 2,563 4.2% (2) Fixed Jul. 2018 Northern Rock 2 7,772 8,155 4.5% (2) Fixed Sep. 2018 Wickes Building Supplies III 1 2,813 2,951 4.4% (2) Fixed Nov. 2018 Provident Financial 1 18,875 19,804 4.1% (2) Fixed Feb. 2019 Crown Crest 1 28,498 29,901 4.3% (2) Fixed Feb. 2019 Aviva 1 23,242 24,387 3.8% (2) Fixed Mar. 2019 Bradford & Bingley 1 11,192 — 3.5% (2) Fixed May 2020 Intier Automotive Interiors 1 6,995 — 3.5% (2) Fixed May 2020 Capgemini 1 8,142 — 3.2% (2) Fixed Jun. 2020 Fujitisu 3 36,684 — 3.2% (2) Fixed Jun. 2020 Amcor Packaging 7 4,628 — 3.6% (2) Fixed Jul. 2020 Fife Council 1 2,715 — 3.6% (2) Fixed Jul. 2020 Malthrust 3 4,737 — 3.6% (2) Fixed Jul. 2020 Talk Talk 1 5,663 — 3.6% (2) Fixed Jul. 2020 HBOS 3 7,979 — 3.6% (2) Fixed Jul. 2020 DFS Trading 5 15,010 — 3.4% (2) Fixed Aug. 2020 DFS Trading 2 3,514 — 3.4% (2) Fixed Aug. 2020 HP Enterprise Services 1 13,748 — 3.4% (2) Fixed Aug. 2020 Total GBP denominated 40 223,461 107,497 United States: Quest Diagnostics 1 52,800 — 2.0% (3) Variable Sep. 2018 Western Digital 1 17,982 18,269 5.3% Fixed Jul. 2021 AT&T Services 1 33,550 — 2.5% (4) Variable Dec. 2020 Puerto Rico: Encanto Restaurants 18 22,057 22,492 6.3% Fixed Jun. 2017 Total USD denominated 21 126,389 40,761 Total 73 $ 531,708 $ 281,186 3.0% _________________________ (1) Amounts borrowed in local currency and translated at the spot rate as of respective date. (2) Fixed as a result of an interest rate swap agreement. (3) The interest rate is 2.0% plus 1-month LIBOR. (4) The interest rate is 2.0% plus 1- month Adjusted LIBOR as defined in the mortgage agreement.
Schedule of Maturities of Long-term Debt	The following table presents future scheduled aggregate principal payments on the mortgage notes payable over the next five calendar years and thereafter as of December 31, 2015 : (In thousands) Future Principal Payments (1) 2016 $ 758 2017 23,043 2018 83,850 2019 190,249 2020 217,508 Thereafter 16,300 Total $ 531,708 (1) Based on the exchange rate as of December 31, 2015 .

Fair Value of Financial Instr29

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following table presents information about the Company's assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of December 31, 2015 and 2014 , aggregated by the level in the fair value hierarchy level within which those instruments fall. (In thousands) Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total December 31, 2015 Cross currency swaps, net (GBP & EUR) $ — $ 3,042 $ — $ 3,042 Foreign currency forwards, net (GBP & EUR) $ — $ 2,203 $ — $ 2,203 Interest rate swaps, net (GBP & EUR) $ — $ (5,461 ) $ — $ (5,461 ) Listing Note (see Note 7 ) $ — $ — $ — $ — OPP (see Note 13 ) $ — $ — $ (14,300 ) $ (14,300 ) December 31, 2014 Cross currency swaps, net (GBP & EUR) $ — $ 11,289 $ — $ 11,289 Foreign currency forwards, net (GBP & EUR) $ — $ 1,884 $ — $ 1,884 Interest rate swaps, net (GBP & EUR) $ — $ (5,650 ) $ — $ (5,650 ) Investment securities $ 490 $ — $ — $ 490
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2015 : (In thousands) Listing Note OPP Beginning balance as of December 31, 2014 $ — $ — Fair value at issuance 8,670 27,500 Fair value adjustment (8,670 ) (13,200 ) Ending balance as of December 31, 2015 $ — $ 14,300
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]	The following table provides quantitative information about the significant Level 3 inputs used (in thousands): Financial Instrument Fair Value at December 31, 2015 Principal Valuation Technique Unobservable Inputs Input Value (In thousands) Listing Note $ — Monte Carlo Simulation Expected volatility 20.0% OPP $ 14,300 Monte Carlo Simulation Expected volatility 21.0%
Fair Value, by Balance Sheet Grouping	The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below. Carrying Amount Fair Value Carrying Amount Fair Value (In thousands) Level December 31, December 31, December 31, December 31, Mortgage notes payable (1) (2) 3 $ 532,384 $ 534,041 $ 282,351 $ 280,967 Credit facility 3 $ 717,286 $ 717,286 $ 659,268 $ 669,824 _____________________________ (1) Carrying value includes $531.7 million mortgage notes payable and $0.7 million mortgage premiums, net as of December 31, 2015 . (2) Carrying value includes $281.2 million mortgage notes payable and $1.2 million mortgage premiums, net as of December 31, 2014 .

Derivative and Hedging Activi30

Derivative and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2015 and 2014 : December 31, (In thousands) Balance Sheet Location 2015 2014 Derivatives designated as hedging instruments: Interest rate swaps (GBP) Derivative assets, at fair value $ 567 $ 18 Cross currency swaps (GBP) Derivative assets, at fair value — 4,517 Cross currency swaps (EUR) Derivative assets, at fair value — 7,219 Interest rate swaps (GBP) Derivative liabilities, at fair value (3,313 ) (4,353 ) Interest rate swaps (EUR) Derivative liabilities, at fair value (2,715 ) (1,315 ) Cross currency swaps (GBP) Derivative liabilities, at fair value — (447 ) Total $ (5,461 ) $ 5,639 Derivatives not designated as hedging instruments: Foreign currency forwards (EUR-USD) Derivative assets, at fair value $ 1,113 $ 736 Foreign currency forwards (GBP-USD) Derivative assets, at fair value 1,090 1,148 Cross currency swaps (GBP) Derivative assets, at fair value 509 — Cross currency swaps (EUR) Derivative assets, at fair value 2,533 — Total $ 5,245 $ 1,884
Offsetting Assets	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of December 31, 2015 and 2014 . The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets. Gross Amounts Not Offset on the Balance Sheet (In thousands) Gross Amounts of Recognized Assets Gross Amounts of Recognized (Liabilities) Gross Amounts Offset on the Balance Sheet Net Amounts of Assets (Liabilities) presented on the Balance Sheet Financial Instruments Cash Collateral Received (Posted) Net Amount December 31, 2015 $ 5,812 $ (6,028 ) $ — $ (216 ) $ — $ — $ (216 ) December 31, 2014 $ 13,638 $ (6,115 ) $ — $ 7,523 $ — $ — $ 7,523
Schedule of Interest Rate Derivatives	As of December 31, 2015 and 2014 , the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: December 31, 2015 December 31, 2014 Derivatives Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Interest rate swaps (GBP) 27 $ 697,925 20 $ 371,225 Interest rate swaps (EUR) 16 561,282 10 282,999 Total 43 $ 1,259,207 30 $ 654,224
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the years ended December 31, 2015 , 2014 and 2013 . Year Ended December 31, (In thousands) 2015 2014 2013 Amount of gain (loss) recognized in accumulated other comprehensive (loss) income from derivatives (effective portion) $ 8,800 5,670 $ (1,901 ) Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion) $ (4,166 ) (2,087 ) $ (123 ) Amount of loss recognized in income on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) $ (371 ) — $ —
Schedule of Derivative Instruments	As of December 31, 2015 , the Company did not have any outstanding derivative instruments designated as net investment hedges. The Company had the following outstanding cross currency swaps that were used to hedge its net investments in foreign operations at December 31, 2014 : December 31, 2014 Derivatives Number of Instruments (1) Notional Amount (1) (In thousands) Cross currency swaps (GBP-USD) 5 $ 107,623 Cross currency swaps (EUR-USD) 10 — 134,285 Total 15 $ 241,908 ____________________________________ (1) Payments and obligations pursuant to these foreign currency swap agreements are guaranteed by the Company, ARC Global Holdco, LLC and the OP.
Disclosure of Credit Derivatives	As of December 31, 2015 and 2014 , the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships. December 31, 2015 December 31, 2014 Derivatives Number of Instruments Notional Amount Number of Instruments Notional Amount (In thousands) (In thousands) Foreign currency forwards (GBP - USD) 40 $ 6,628 80 $ 13,664 Foreign currency forwards (EUR - USD) 15 6,139 31 12,699 Cross currency swaps (GBP - USD) 9 82,843 — — Cross currency swaps (EUR - USD) 5 99,847 — — Total 69 $ 195,457 111 $ 26,363

Common Stock Common Stock (Tabl

Common Stock Common Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Schedule of Stock by Class	The following table reflects the cumulative number of common shares repurchased as of December 31, 2014 and 2015 : Number of Shares Repurchased Weighted Average Price per Share Cumulative repurchases as of December 31, 2014 99,969 9.91 Redemptions 135,123 9.78 Shares repurchased under Tender Offer 11,904,762 10.50 Cumulative repurchases as of December 31, 2015 12,139,854 $ 10.49

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The following presents future minimum base rental cash payments due to the Company during the next five calendar years and thereafter as of December 31, 2015 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indices among other items. (In thousands) Future Minimum Base Rent Payments (1) 2016 $ 195,718 2017 199,195 2018 201,720 2019 204,203 2020 206,384 Thereafter 1,151,118 Total $ 2,158,338 Future minimum rental payments to be made by the Company under these noncancelable ground leases, excluding increases resulting from increases in the consumer price index, are as follows: (In thousands) Future Ground Lease Payments 2016 $ 1,306 2017 1,307 2018 1,307 2019 1,307 2020 1,307 2021 1,307 Thereafter 41,251 Total $ 49,092

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate	The following table details total selling commissions and dealer manager fees incurred from and payable to the Former Dealer Manager related to the sale of Common Stock as of and for the periods presented: Year Ended December 31, Payable as of December 31, (In thousands) 2015 2014 2015 2014 Total commissions and fees to Former Dealer Manager $ (8 ) $ 148,372 $ — $ 13
Schedule Of Offering Costs Reimbursements to Related Party	The following table details fees and offering cost reimbursements incurred and payable to the Advisor and the Former Dealer Manager related to the sale of Common Stock as of and for the periods presented: Year Ended December 31, Payable as of December 31, (In thousands) 2015 2014 2015 2014 Fees and expense reimbursements to the Advisor and Former Dealer Manager $ — $ 16,920 $ — $ 61
Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services	The following table reflects related party fees incurred, forgiven and contractually due as of and for the periods presented: Year Ended December 31, 2015 2014 2013 Payable as of December 31, (In thousands) Incurred Forgiven Incurred Forgiven Incurred Forgiven 2015 2014 2013 One-time fees and reimbursements: Acquisition fees and related cost reimbursements (1) $ 735 $ — $ 32,915 $ — $ 2,447 $ — $ — $ 2 $ — Transaction fee — — — — 165 — — — — Financing coordination fees (2) 1,159 — 6,546 — 926 — 466 (6) — — Ongoing fees: Asset management fees (3) 13,501 — — — — — 217 (5) — — Property management and leasing fees (4) 3,982 2,507 1,316 690 50 25 91 (6) 52 1 Strategic advisory fees — — 561 — 359 — — — — Class B OP Unit Distributions 339 — 178 — 4 — — — — LTIP Distributions 375 — — — — — 375 (7) — — Vesting of Class B units (3) 14,480 — — — — — — — — Total related party operational fees and reimbursements $ 34,571 $ 2,507 $ 41,516 $ 690 $ 3,951 $ 25 $ 1,149 $ 54 $ 1 ___________________________________________________________________________ (1) These affiliated fees are recorded within acquisition and transaction related costs on the consolidated statements of operations. (2) These affiliated costs are recorded as deferred financing costs and amortized over the term of the respective financing arrangement. (3) From January 1, 2013 to April 1, 2015, the Company caused the OP to issue to the Advisor (subject to periodic approval by the board of directors) restricted performance based Class B units for asset management services, which would vest if certain conditions occur. At the Listing Date, all Class B units held by the Advisor converted to OP Units. From April 1, 2015 until the Listing Date, the Company paid the Advisor asset management fees in cash (as elected by the Advisor). From the Listing Date, the Advisor received asset management fees in cash in accordance with the Amended and Restated Advisory Agreement. No Incentive Compensation was incurred for the year ended December 31, 2015 . (4) The Advisor waived 100% of fees from U.S. assets and its allocated portion of 50% of fees from European assets. (5) Balance included within due to affiliates on the consolidated balance sheets as of December 31, 2015 . In addition, due to affiliates includes $0.8 million of costs accrued for transfer asset and personnel services received from the Company's affiliated parties including ANST, Advisor and RCS which are recorded within general and administrative expenses on the consolidated statements of operations for the year ended December 31, 2015 and are not reflected in the table above. (6) Balance included within accounts payable and accrued expenses on the consolidated balance sheets as of December 31, 2015 . (7) Balance included within dividends payable on the consolidated balance sheets as of December 31, 2015 .
Schedule of General and Administrative Expenses Absorbed by Affiliate	The following table details property operating and general and administrative expenses absorbed by the Advisor during the three years ended December 31, 2015 , 2014 , and 2013 : Year Ended December 31, (In thousands) 2015 2014 2013 Property operating expenses absorbed $ — $ 178 $ 4 General and administrative expenses absorbed — — 1,292 Total expenses absorbed (1) $ — $ 178 $ 1,296 ___________________________________________________ (1) The Company had had $0.5 million and $0.1 million receivables from the Advisor related to absorbed costs as of December 31, 2014 and 2013 , respectively,.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Share-based Compensation [Abstract]
Schedule of Restricted Share Award Activity	The following table reflects restricted share award activity for the years ended December 31, 2015 , 2014 and 2013 . Number of Restricted Shares Weighted-Average Issue Price Unvested, December 31, 2012 9,000 $ 9.00 Granted 9,000 9.00 Vested (1,800 ) 9.00 Unvested, December 31, 2013 16,200 9.00 Granted 9,000 9.00 Vested (10,800 ) 9.00 Unvested, December 31, 2014 14,400 9.00 Granted prior to Listing Date (1) 3,000 9.00 One-time Listing Grant 160,000 8.52 Granted (2) 27,938 8.84 Vested (3) (17,400 ) 9.00 Unvested, December 31, 2015 187,938 $ 8.57 ____________________________ (1) Based on the original RSP in place prior to April 8, 2015 . (2) Based on the Amended RSP which provides an annual retainer to: (i) all independent directors; (ii) independent directors serving on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee; and (iii) the non-executive chair. (3) RSUs granted prior to April 8, 2015 vested immediately prior to the Listing.
Schedule of Share Based Compensation Total Return	The Advisor will be eligible to earn a number of LTIP Units with a value equal to a portion of the OPP Cap upon the first, second and third anniversaries of the Effective Date, which is the Listing Date, June 2, 2015 , based on the Company’s achievement of certain levels of total return to its stockholders (“Total Return”), including both share price appreciation and Common Stock dividends, as measured against a peer group of companies, as set forth below, for the three-year performance period commencing on the Effective Date (the “ Three -Year Period”); each 12-month period during the Three -Year Period (the “ One -Year Periods”); and the initial 24-month period of the Three -Year Period (the “ Two -Year Period”), as follows: Performance Period Annual Period Interim Period Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period: 21% 7% 14% Relative Component: 4% of any excess Total Return attained above the Total Return for the performance period of the Peer Group*, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period: • 100% will be earned if cumulative Total Return achieved is at least: 18% 6% 12% • 50% will be earned if cumulative Total Return achieved is: —% —% —% • 0% will be earned if cumulative Total Return achieved is less than: —% —% —% • a percentage from 50% to 100% calculated by linear interpolation will be earned if the cumulative Total Return achieved is between: 0% - 18% 0% - 6% 0% - 12% __________________________________ * The “Peer Group” is comprised of Gramercy Property Trust Inc., Lexington Realty Trust, Select Income REIT, and W.P. Carey Inc.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the basic and diluted net income (loss) per share computation for the year s ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, (In thousands, except share and per share data) 2015 2014 2013 Net loss attributable to stockholders $ (2,065 ) $ (53,594 ) $ (6,989 ) Adjustments to net income (loss) attributable to stockholders for common share equivalents (442 ) — — Adjusted net loss attributable to stockholders (2,507 ) (53,594 ) (6,989 ) Basic and diluted net loss per share (0.01 ) $ (0.43 ) $ (1.28 ) Basic and diluted weighted average shares outstanding 174,309,894 126,079,369 5,453,404
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	For the years ended December 31, 2015 , 2014 and 2013 , the following common share equivalents were excluded from the calculation of diluted earnings per share: December 31, 2015 2014 2013 Unvested restricted stock 187,938 14,400 16,200 OP Units (1) 1,809,678 22 22 Class B units — 705,743 23,392 OPP (LTIP Units) 9,041,801 — — Total anti-dilutive common share equivalents 11,039,417 720,165 39,614 (1) OP Units included 1,726,323 of converted Class B units on Listing, 83,333 OP Units issued to the Advisor, and 22 OP Units issued to the Special Limited Partner.

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for years ended December 31, 2015 and 2014 : (In thousands, except share and per share data) Quarters Ended 2015 March 31, (1) June 30, September 30, (2) December 31, (3) Total revenue $ 49,969 $ 49,068 $ 50,252 $ 56,043 Net income (loss) attributable to stockholders 25,855 (45,664 ) 5,432 12,312 Adjustments to net income (loss) attributable to stockholders for common share equivalents — — (249 ) (193 ) Adjusted net income (loss) attributable to stockholders $ 25,855 $ (45,664 ) $ 5,183 $ 12,119 Basic and diluted weighted average shares outstanding 179,156,462 180,380,436 168,948,345 168,936,633 Basic and diluted net income (loss) per share attributable to stockholders $ 0.14 $ (0.25 ) $ 0.03 $ 0.07 (In thousands, except share and per share data) Quarters Ended 2014 March 31, June 30, September 30, December 31, Total revenue $ 7,547 $ 13,628 $ 25,902 $ 46,306 Net loss $ (16,349 ) $ (7,479 ) $ (24,558 ) $ (5,208 ) Basic and diluted weighted average shares outstanding 37,602,790 111,819,848 175,401,867 177,414,574 Basic and diluted net loss per share $ (0.43 ) $ (0.07 ) $ (0.14 ) $ (0.03 ) _______________________ (1) As discussed in Note 2 — Summary of Significant Accounting Policies, the Company reflected adjustments in the three months periods ended March 31, 2015 and December 31, 2015 to correct errors in straight line rent and taxes relating to fiscal 2014. (2) The Company identified errors in accounting for certain cross currency derivatives that were no longer designated as hedges subsequent to their restructuring on February 4, 2015 (see Note 8 — Derivatives and Hedging Activities) where gains that should have been included in net income (loss) were instead included in other comprehensive income (loss) of approximately $0.5 million and $0.6 million during the thee month periods ended March 31, 2015 and June 30, 2015, respectively. The Company has concluded that these adjustments are not material to the financial position or results of operations for the current period or any of the respective prior periods, accordingly, the Company recorded the additional gains on these non-designated derivative instruments of $1.1 million during the three month period ended September 30, 2015. (3) During the fourth quarter of 2015, the Company recorded an out-of-period adjustment to correct for an error identified in accounting for certain accrued operating expense reimbursement revenue totaling approximately $1.0 million , of which approximately $0.4 million , $0.3 million and $0.3 million related to three month periods ended March 31, 2015, June 30, 2015 and September 30, 2015, respectively. The Company concluded that this adjustment was not material to its financial position and results of operations for the current period or any of the prior periods, accordingly, the Company reversed the accrued operating expense reimbursement revenue of $1.0 million during the three month period ended December 31, 2015.

Organization (Details)

Organization (Details) $ / shares in Units, ft² in Millions, $ in Millions	Jul. 06, 2015USD ($)$ / sharesshares	Jun. 02, 2015$ / sharesshares	Jun. 30, 2014$ / sharesshares	Dec. 31, 2015ft²property$ / sharesshares	Dec. 31, 2014$ / sharesshares	Dec. 31, 2013shares	Apr. 08, 2015$ / shares
Operations [Line Items]
Common stock, issued (in shares)				168,936,633	177,933,175
Common stock, par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01	$ 0.01		$ 0.01
Common stock issued through distribution reinvestment plan (in shares)			1,100,000
Number of real estate properties (property) | property				329
Rentable square feet (sqft) | ft²				18.7
Occupancy rate (percent)				100.00%
Weighted average remaining lease term (years)				11 years 3 months
Antidilutive securities (in shares)				11,039,417	720,165	39,614
OP Units
Operations [Line Items]
Antidilutive securities (in shares)		1,726,323		1,809,678	22	22
OP Units | Advisor
Operations [Line Items]
Antidilutive securities (in shares)		83,333		1,461,753
OP Units | Service Provider
Operations [Line Items]
Antidilutive securities (in shares)				347,903
OP Units | Limited Partner
Operations [Line Items]
Antidilutive securities (in shares)		22		22
Common Stock
Operations [Line Items]
Share price (in dollars per share) | $ / shares			$ 10
Tender offer (shares)		11,900,000
Tender offer price (usd per share) | $ / shares	$ 10.5	$ 10.5
Tender offer common stock purchases (shares)	11,900,000
Tender offer common stock purchases | $	$ 125
United States
Operations [Line Items]
Target portfolio investment (percent)				60.40%
Europe
Operations [Line Items]
Target portfolio investment (percent)				39.60%
IPO
Operations [Line Items]
Common stock, issued (in shares)			172,300,000

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, ft² in Millions	Jun. 02, 2015	Dec. 31, 2015USD ($)ft²tenantproperty$ / shares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)ft²tenantsegmentproperty$ / shares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)	Jan. 23, 2016USD ($)	Apr. 08, 2015$ / shares	Jun. 30, 2014$ / shares	Dec. 31, 2012USD ($)
Summary Of Significant Accounting Policies [Line Items]
Liability for offering and related costs from IPO (percent)		1.50%				1.50%
Cumulative offering cost cap		11.50%				11.50%
Straight line rent receivable		$ 23,100,000				$ 23,100,000	$ 8,700,000
Rental revenue, unbilled rental revenue						$ 14,500,000	8,500,000
Useful life, buildings (years)						40 years
Useful life, land improvements (years)						15 years
Useful life, fixtures and improvements (years)						5 years
Cash and cash equivalents		69,938,000				$ 69,938,000	64,684,000	$ 11,500,000				$ 262,000
Cash in excess of FDIC limit		40,300,000				40,300,000	37,800,000
Cash in excess of FSCS limit		11,400,000				11,400,000	13,500,000
Cash in excess of European limits		11,700,000				11,700,000	7,100,000
Restricted cash		$ 3,319,000				$ 3,319,000	$ 6,104,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.01				$ 0.01	$ 0.01			$ 0.01	$ 0.01
Current income tax provision						$ 5,100,000	$ 700,000
Deferred income tax provision (benefit)						800,000	(2,100,000)
Valuation allowance		$ 4,300,000				4,300,000	3,900,000
Deferred tax assets		$ 2,552,000				2,552,000	2,102,000
Income taxes (expense) benefit						$ (5,889,000)	1,431,000	0
Number of reportable segments (segment) | segment						1
Number of real estate properties (property) | property		329				329
Number of tenants | tenant		86				86
Occupancy rate (percent)		100.00%				100.00%
Rentable square feet (sqft) | ft²		18.7				18.7
Rental income						$ 194,620,000	88,158,000	3,900,000
Accrued rent		$ 15,491,000				15,491,000	12,252,000
Operating expense reimbursements						10,712,000	5,225,000	$ 51,000
Listing amount distribution measurement period (days)	30 days
Multi-Year Outperformance Plan
Summary Of Significant Accounting Policies [Line Items]
Equity based compensation, requisite service period (years)	5 years
Listing Note
Summary Of Significant Accounting Policies [Line Items]
Derivative liability		0				$ 0	$ 0
Listing Note | Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Derivative liability									$ 0
Straight-Line Rent Effect, Termination Payments Under Lease Cancellation Clauses
Summary Of Significant Accounting Policies [Line Items]
Rental income				$ 300,000	$ 300,000
Accrued rent				300,000	300,000
Change in Tax Valuation
Summary Of Significant Accounting Policies [Line Items]
Income taxes (expense) benefit		(500,000)		(900,000)	(900,000)
Change in Tax Valuation | Deferred Tax Asset
Summary Of Significant Accounting Policies [Line Items]
Income taxes (expense) benefit				(300,000)	(300,000)
Accounting Errors for Accrued Operating Expense Reimbursement Revenue
Summary Of Significant Accounting Policies [Line Items]
Operating expense reimbursements		1,000,000	$ 300,000	300,000	400,000
Reversal of Recognized Revenue
Summary Of Significant Accounting Policies [Line Items]
Operating expense reimbursements		$ (1,000,000)
Foreign Tax Authority | Change in Tax Valuation
Summary Of Significant Accounting Policies [Line Items]
Income taxes (expense) benefit				$ (1,200,000)	$ (1,200,000)
Minimum
Summary Of Significant Accounting Policies [Line Items]
Lease-up period (months)						12 months
Maximum
Summary Of Significant Accounting Policies [Line Items]
Lease-up period (months)						18 months

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Finite-lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
In-place leases, net of accumulated amortization of $61,857 and $20,131 at December 31, 2015 and 2014, respectively	$ 426,434	$ 435,684
Above-market leases, net of accumulated amortization of $3,279 and $1,086 at December 31, 2015 and 2014, respectively	22,322	26,329
Below-market ground leases, net of accumulated amortization of $115 and $32 at December 31, 2015, and 2014, respectively	4,287	817
Total intangible lease assets, net	453,043	462,830
Below-market leases, net of accumulated amortization of $3,296 and $1,211 at December 31, 2015 and 2014, respectively	25,984	21,676
Above-market ground leases, net of accumulated amortization of $15 and $0 at December 31, 2015 and 2014, respectively	1,994	0
Total intangible lease liabilities, net	27,978	21,676
Accumulated amortization, in-place lease	61,857	20,131
Accumulated amortization, above-market lease	3,279	1,086
Accumulated amortization, below-market ground lease	115	32
Accumulated amortization, below-market lease	3,296	1,211
Accumulated amortization, above-market lease	$ 15	$ 0

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Schedule of Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 42,421	$ 19,531	$ 1,275
Depreciation and Amortization | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 44,505
Depreciation and Amortization | In-place leases
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Years	10 years 5 months
Depreciation and Amortization | In-place leases | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 44,665
Depreciation and Amortization | In-place leases | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | In-place leases | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | In-place leases | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,665
Depreciation and Amortization | In-place leases | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	44,505
Rental Income | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(256)
Rental Income | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(256)
Rental Income | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(256)
Rental Income | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(256)
Rental Income | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ (231)
Rental Income | Above market lease assets
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Years	10 years 6 months
Rental Income | Above market lease assets | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 2,271
Rental Income | Above market lease assets | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	2,271
Rental Income | Above market lease assets | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	2,271
Rental Income | Above market lease assets | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	2,271
Rental Income | Above market lease assets | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 2,271
Rental Income | Below market lease liabilities
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Years	11 years 6 months
Rental Income | Below market lease liabilities | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ (2,527)
Rental Income | Below market lease liabilities | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(2,527)
Rental Income | Below market lease liabilities | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(2,527)
Rental Income | Below market lease liabilities | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(2,527)
Rental Income | Below market lease liabilities | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(2,502)
Property Operating Expense | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	136
Property Operating Expense | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	136
Property Operating Expense | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	136
Property Operating Expense | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	136
Property Operating Expense | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 136
Property Operating Expense | Below market ground lease assets
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Years	29 years 2 months
Property Operating Expense | Below market ground lease assets | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 195
Property Operating Expense | Below market ground lease assets | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	195
Property Operating Expense | Below market ground lease assets | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	195
Property Operating Expense | Below market ground lease assets | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	195
Property Operating Expense | Below market ground lease assets | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 195
Property Operating Expense | Above market ground lease liabilities
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Years	33 years 8 months
Property Operating Expense | Above market ground lease liabilities | 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ (59)
Property Operating Expense | Above market ground lease liabilities | 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(59)
Property Operating Expense | Above market ground lease liabilities | 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(59)
Property Operating Expense | Above market ground lease liabilities | 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	(59)
Property Operating Expense | Above market ground lease liabilities | 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ (59)

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Distributions From Tax Perspective (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Return of capital (percent)	63.10%	70.40%	51.70%
Ordinary dividend income (percent)	36.90%	29.60%	48.30%
Total distribution (percent)	100.00%	100.00%	100.00%
Return of capital (usd per share)	$ 0.45	$ 0.50	$ 0.37
Ordinary dividend income (usd per share)	0.26	0.21	0.34
Total distribution (usd per share)	$ 0.71	$ 0.71	$ 0.71

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Geographic Distribution of Real Estate Investments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total revenue	$ 56,043	$ 50,252	$ 49,068	$ 49,969	$ 46,306	$ 25,902	$ 13,628	$ 7,547	$ 205,332	$ 93,383	$ 3,951
Investments in Real Estate	2,546,304				2,340,039				2,546,304	2,340,039
Real Estate Investing
Segment Reporting Information [Line Items]
Total revenue									205,332	93,383	3,951
Investments in Real Estate	2,546,304				2,340,039				2,546,304	2,340,039
Real Estate Investing | United States
Segment Reporting Information [Line Items]
Total revenue									130,598	65,651	1,132
Investments in Real Estate	1,610,720				1,446,604				1,610,720	1,446,604
Real Estate Investing | United Kingdom
Segment Reporting Information [Line Items]
Total revenue									40,830	18,199	2,819
Investments in Real Estate	441,586				466,292				441,586	466,292
Real Estate Investing | Europe
Segment Reporting Information [Line Items]
Total revenue									33,904	9,533	$ 0
Investments in Real Estate	$ 493,998				$ 427,143				$ 493,998	$ 427,143

Real Estate Investments - Sched

Real Estate Investments - Schedule of Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property
Other Real Estate [Roll Forward]
Number of real estate properties, ending balance (property) | property	329
Cost of real estate investment property, beginning balance	$ 2,340,039
Cost of real estate investment property, ending balance	$ 2,546,304
2015 Acquisitions
Other Real Estate [Roll Forward]
Number of real estate properties, beginning balance (property) | property	307
Number of properties | property	22
Number of real estate properties, ending balance (property) | property	329
Cost of real estate investment property, beginning balance	$ 2,378,554
Base purchase price	255,008
Cost of real estate investment property, ending balance	$ 2,633,562

Real Estate Investments - Sch44

Real Estate Investments - Schedule of Acquisitions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)property
Real estate investments, at cost:
Land	$ 23,865	$ 288,376	$ 44,118
Buildings, fixtures and improvements	192,052	1,450,862	103,127
Total tangible assets	215,917	1,739,238	147,245
Intangibles acquired:
Goodwill	0	3,665	0
Total assets acquired, net	255,008	2,171,421	188,286
Mortgage notes payable used to acquire real estate investments	(31,933)	(217,791)	(75,651)
Credit facility borrowings used to acquire real estate investments	0	(446,558)	0
Other liabilities assumed	0	0	(1,664)
Cash paid for acquired real estate investments	$ 223,075	$ 1,507,072	$ 110,971
Number of properties purchased | property	22	270	36
In-place leases
Intangibles acquired:
Assets Acquired	$ 44,241	$ 418,419	$ 44,865
Above market lease assets
Intangibles acquired:
Assets Acquired	1,007	26,711	2,159
Below market lease liabilities
Intangibles acquired:
Assets Acquired	(7,449)	(17,513)	(5,983)
Below market ground lease assets
Intangibles acquired:
Assets Acquired	3,363	901	0
Above market ground lease liabilities
Intangibles acquired:
Assets Acquired	$ (2,071)	$ 0	$ 0

Real Estate Investments - Acqui

Real Estate Investments - Acquisitions, Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate [Abstract]
Acquisition and transaction related expenses	$ 6,053	$ 83,498	$ 7,745
Pro forma revenues	219,932	227,134
Pro forma net income (loss)	$ 9,716	$ 58,456
Pro forma basic and diluted net income (loss) per share	$ 0.06	$ 0.46

Real Estate Investments - Futur

Real Estate Investments - Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2015USD ($)
Real Estate [Abstract]
2,016	$ 195,718
2,017	199,195
2,018	201,720
2,019	204,203
2,020	206,384
Thereafter	1,151,118
Total	$ 2,158,338

Real Estate Investments - Annua

Real Estate Investments - Annualized Rental Income (Details)	12 Months Ended
	Dec. 31, 2013
Encanto Restaurants, Inc.
Real Estate Investments [Line Items]
Concentration risk (percent)	19.40%
Western Digital Corporation
Real Estate Investments [Line Items]
Concentration risk (percent)	14.60%
Thames Water Utilities Limited
Real Estate Investments [Line Items]
Concentration risk (percent)	11.70%

Real Estate Investments - Reven

Real Estate Investments - Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Germany
Real Estate Investments [Line Items]
Entity wide revenue percentage		10.90%
Puerto Rico
Real Estate Investments [Line Items]
Entity wide revenue percentage			19.40%
United Kingdom
Real Estate Investments [Line Items]
Entity wide revenue percentage	19.20%	22.00%	38.40%
California, USA
Real Estate Investments [Line Items]
Entity wide revenue percentage			14.60%
Texas, USA
Real Estate Investments [Line Items]
Entity wide revenue percentage	11.50%	10.40%

Revolving Credit Facility (Deta

Revolving Credit Facility (Details) € in Millions, £ in Millions	Jan. 20, 2016USD ($)	Jul. 25, 2013USD ($)extension_option	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2015GBP (£)	Feb. 04, 2015EUR (€)	Feb. 04, 2015GBP (£)	Dec. 31, 2014EUR (€)	Dec. 31, 2014GBP (£)
Line of Credit Facility [Line Items]
Credit facility			$ 717,286,000	$ 659,268,000
Carrying value of encumbered assets			1,300,000,000
Payment of US dollar advances			373,167,000	18,500,000	$ 0
JPMorgan Chase Bank, N.A. | Above Threshold
Line of Credit Facility [Line Items]
Unused capacity commitment fee (percent)		0.25%
JPMorgan Chase Bank, N.A. | Below Threshold
Line of Credit Facility [Line Items]
Unused capacity commitment fee (percent)		0.15%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility								€ 110.5	£ 68.5
Revolving Credit Facility | JPMorgan Chase Bank, N.A.
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 50,000,000
Credit facility			$ 717,300,000	659,300,000		€ 288.4	£ 160.2			€ 128	£ 169.8
Number of one year extensions (extension option) | extension_option		2
Commitment fee (percent)		50.00%
Debt instrument, weighted average effective interest rate (percent)			2.20%			2.20%	2.20%
Remaining borrowing capacity			$ 22,700,000	$ 20,700,000
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Subsequent Event
Line of Credit Facility [Line Items]
Payment of US dollar advances	$ 20,000,000
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Line of Credit Facility, Base Rate, Option Three
Line of Credit Facility [Line Items]
Interest rate (percent)		1.00%
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Maximum
Line of Credit Facility [Line Items]
Additional borrowing capacity		$ 740,000,000
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Base Rate | Minimum | Line of Credit Facility, Interest Rate, Option Two
Line of Credit Facility [Line Items]
Interest rate (percent)		0.60%
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Base Rate | Maximum | Line of Credit Facility, Interest Rate, Option Two
Line of Credit Facility [Line Items]
Interest rate (percent)		1.20%
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | LIBOR | Minimum | Line of Credit Facility, Interest Rate, Option One
Line of Credit Facility [Line Items]
Interest rate (percent)		1.60%
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | LIBOR | Maximum | Line of Credit Facility, Interest Rate, Option One
Line of Credit Facility [Line Items]
Interest rate (percent)		2.20%
Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Federal Funds Effective Swap Rate | Line of Credit Facility, Base Rate, Option Two
Line of Credit Facility [Line Items]
Interest rate (percent)		0.50%

Mortgage Note Payable - Narrati

Mortgage Note Payable - Narrative (Details) - 12 months ended Dec. 31, 2015 € in Millions, £ in Millions, $ in Millions	USD ($)	EUR (€)	GBP (£)	property	€ / $	£ / $
Debt Instrument [Line Items]
Exchange rate					1.09	1.48
Carrying value of encumbered assets | $	$ 1,300
United Kingdom
Debt Instrument [Line Items]
Encumbered properties (property)				29
Net proceeds received	121		£ 81.7
Finland
Debt Instrument [Line Items]
Encumbered properties (property)				1
Net proceeds received	31.6	€ 29
United States
Debt Instrument [Line Items]
Encumbered properties (property)				2
Net proceeds received | $	$ 86.4

Mortgage Note Payable - Schedul

Mortgage Note Payable - Schedule of Long-term Debt Instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Outstanding Loan Amount	$ 531,708	$ 281,186
Mortgage notes payable
Debt Instrument [Line Items]
Encumbered properties (property) | property	73
Outstanding Loan Amount	$ 531,708	281,186
Effective interest rate (percent)	3.00%
Mortgage notes payable | EUR
Debt Instrument [Line Items]
Encumbered properties (property) | property	12
Outstanding Loan Amount	$ 181,858	132,928
Mortgage notes payable | EUR | Finnair
Debt Instrument [Line Items]
Encumbered properties (property) | property	4
Outstanding Loan Amount	$ 30,976	0
Effective interest rate (percent)	2.20%
Mortgage notes payable | EUR | Tokmanni
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 31,603	0
Effective interest rate (percent)	2.40%
Mortgage notes payable | EUR | Rheinmetall
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 11,561	12,884
Effective interest rate (percent)	2.60%
Mortgage notes payable | EUR | OBI DIY
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 4,908	5,470
Effective interest rate (percent)	2.40%
Mortgage notes payable | EUR | RWE AG
Debt Instrument [Line Items]
Encumbered properties (property) | property	3
Outstanding Loan Amount	$ 68,169	75,969
Effective interest rate (percent)	1.60%
Mortgage notes payable | EUR | Rexam
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 5,737	6,394
Effective interest rate (percent)	1.80%
Mortgage notes payable | EUR | Metro Tonic
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 28,904	32,211
Effective interest rate (percent)	1.70%
Mortgage notes payable | GBP
Debt Instrument [Line Items]
Encumbered properties (property) | property	40
Outstanding Loan Amount	$ 223,461	107,497
Mortgage notes payable | GBP | McDonald's
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 1,125	1,180
Effective interest rate (percent)	4.10%
Mortgage notes payable | GBP | Wickes Building Supplies I
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 2,882	3,024
Effective interest rate (percent)	3.70%
Mortgage notes payable | GBP | Everything Everywhere
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 5,922	6,213
Effective interest rate (percent)	4.00%
Mortgage notes payable | GBP | Thames Water
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 8,882	9,319
Effective interest rate (percent)	4.10%
Mortgage notes payable | GBP | Wickes Building Supplies II
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 2,443	2,563
Effective interest rate (percent)	4.20%
Mortgage notes payable | GBP | Northern Rock
Debt Instrument [Line Items]
Encumbered properties (property) | property	2
Outstanding Loan Amount	$ 7,772	8,155
Effective interest rate (percent)	4.50%
Mortgage notes payable | GBP | Wickes Building Supplies III
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 2,813	2,951
Effective interest rate (percent)	4.40%
Mortgage notes payable | GBP | Provident Financial
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 18,875	19,804
Effective interest rate (percent)	4.10%
Mortgage notes payable | GBP | Crown Crest
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 28,498	29,901
Effective interest rate (percent)	4.30%
Mortgage notes payable | GBP | Aviva
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 23,242	24,387
Effective interest rate (percent)	3.80%
Mortgage notes payable | GBP | Bradford & Bingley
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 11,192	0
Effective interest rate (percent)	3.50%
Mortgage notes payable | GBP | Intier Automotive Interiors
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 6,995	0
Effective interest rate (percent)	3.50%
Mortgage notes payable | GBP | Capgemini
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 8,142	0
Effective interest rate (percent)	3.20%
Mortgage notes payable | GBP | Fujitisu
Debt Instrument [Line Items]
Encumbered properties (property) | property	3
Outstanding Loan Amount	$ 36,684	0
Effective interest rate (percent)	3.20%
Mortgage notes payable | GBP | Amcor Packaging
Debt Instrument [Line Items]
Encumbered properties (property) | property	7
Outstanding Loan Amount	$ 4,628	0
Effective interest rate (percent)	3.60%
Mortgage notes payable | GBP | Fife Council
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 2,715	0
Effective interest rate (percent)	3.60%
Mortgage notes payable | GBP | Malthrust
Debt Instrument [Line Items]
Encumbered properties (property) | property	3
Outstanding Loan Amount	$ 4,737	0
Effective interest rate (percent)	3.60%
Mortgage notes payable | GBP | Talk Talk
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 5,663	0
Effective interest rate (percent)	3.60%
Mortgage notes payable | GBP | HBOS
Debt Instrument [Line Items]
Encumbered properties (property) | property	3
Outstanding Loan Amount	$ 7,979	0
Effective interest rate (percent)	3.60%
Mortgage notes payable | GBP | DFS Trading, Five Pack
Debt Instrument [Line Items]
Encumbered properties (property) | property	5
Outstanding Loan Amount	$ 15,010	0
Effective interest rate (percent)	3.40%
Mortgage notes payable | GBP | DFS Trading, Two Pack
Debt Instrument [Line Items]
Encumbered properties (property) | property	2
Outstanding Loan Amount	$ 3,514	0
Effective interest rate (percent)	3.40%
Mortgage notes payable | GBP | HP Enterprise Services
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 13,748	0
Effective interest rate (percent)	3.40%
Mortgage notes payable | USD
Debt Instrument [Line Items]
Encumbered properties (property) | property	21
Outstanding Loan Amount	$ 126,389	40,761
Mortgage notes payable | USD | Quest Diagnostics
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 52,800	0
Effective interest rate (percent)	2.00%
Mortgage notes payable | USD | Quest Diagnostics | LIBOR
Debt Instrument [Line Items]
Interest rate (percent)	2.00%
Mortgage notes payable | USD | Western Digital
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 17,982	18,269
Effective interest rate (percent)	5.30%
Mortgage notes payable | USD | AT&T Services
Debt Instrument [Line Items]
Encumbered properties (property) | property	1
Outstanding Loan Amount	$ 33,550	0
Effective interest rate (percent)	2.50%
Mortgage notes payable | USD | AT&T Services | Adjusted LIBOR
Debt Instrument [Line Items]
Interest rate (percent)	2.00%
Mortgage notes payable | USD | Encanto Restaurants
Debt Instrument [Line Items]
Encumbered properties (property) | property	18
Outstanding Loan Amount	$ 22,057	$ 22,492
Effective interest rate (percent)	6.30%

Mortgage Note Payable - Sched52

Mortgage Note Payable - Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Mortgage notes payable	$ 531,708	$ 281,186
Mortgage notes payable
Debt Instrument [Line Items]
2,016	758
2,017	23,043
2,018	83,850
2,019	190,249
2,020	217,508
Thereafter	16,300
Mortgage notes payable	$ 531,708	$ 281,186

Fair Value of Financial Instr53

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 03, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment securities, at fair value	$ 0		$ 490
Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment securities, at fair value		$ 500	490
Losses on investment securities	$ 100		$ 24

Fair Value of Financial Instr54

Fair Value of Financial Instruments - Fair Value, Financial Instruments Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 03, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	$ 0		$ 490
Listing Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Listing note	0		0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities		$ 500	490
Fair Value, Measurements, Recurring | Multi-Year Outperformance Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	(14,300)
Fair Value, Measurements, Recurring | Listing Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Listing note	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities			490
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1 | Multi-Year Outperformance Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1 | Listing Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Listing note	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities			0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2 | Multi-Year Outperformance Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2 | Listing Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Listing note	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities			0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3 | Multi-Year Outperformance Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OPP	(14,300)
Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3 | Listing Note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Listing note	0
Fair Value, Measurements, Recurring | Foreign currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	3,042		11,289
Fair Value, Measurements, Recurring | Foreign currency swaps | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	0		0
Fair Value, Measurements, Recurring | Foreign currency swaps | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	3,042		11,289
Fair Value, Measurements, Recurring | Foreign currency swaps | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	0		0
Fair Value, Measurements, Recurring | Foreign currency forwards, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	2,203		1,884
Fair Value, Measurements, Recurring | Foreign currency forwards, net | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	0		0
Fair Value, Measurements, Recurring | Foreign currency forwards, net | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	2,203		1,884
Fair Value, Measurements, Recurring | Foreign currency forwards, net | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, foreign currency	0		0
Fair Value, Measurements, Recurring | Interest rate swaps, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, interest rate swap	(5,461)		(5,650)
Fair Value, Measurements, Recurring | Interest rate swaps, net | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, interest rate swap	0		0
Fair Value, Measurements, Recurring | Interest rate swaps, net | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, interest rate swap	(5,461)		(5,650)
Fair Value, Measurements, Recurring | Interest rate swaps, net | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, interest rate swap	$ 0		$ 0

Fair Value of Financial Instr55

Fair Value of Financial Instruments - Unobservable Input Reconciliation (Details) - Significant Unobservable Inputs Level 3 $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Multi-Year Outperformance Plan
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance as of December 31, 2014	$ 0
Fair value at issuance	27,500
Fair value adjustment	(13,200)
Ending Balance as of December 31, 2015	14,300
Listing Note
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance as of December 31, 2014	0
Fair value at issuance	8,670
Fair value adjustment	(8,670)
Ending balance as of December 31, 2015	$ 0

Fair Value of Financial Instr56

Fair Value of Financial Instruments - Quantitative Level 3 Inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Listing Note
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative liability	$ 0	$ 0
Fair Value, Measurements, Recurring | Listing Note
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative liability	0
Significant Unobservable Inputs Level 3 | Fair Value, Measurements, Recurring | Multi-Year Outperformance Plan
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
OPP	14,300
Significant Unobservable Inputs Level 3 | Fair Value, Measurements, Recurring | Listing Note
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative liability	$ 0
Significant Unobservable Inputs Level 3 | Fair Value, Measurements, Recurring | Monte Carlo Simulation | Multi-Year Outperformance Plan
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Input value (percent)	21.00%
Significant Unobservable Inputs Level 3 | Fair Value, Measurements, Recurring | Monte Carlo Simulation | Listing Note
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Input value (percent)	20.00%

Fair Value of Financial Instr57

Fair Value of Financial Instruments - Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage notes payable	$ 531,708	$ 281,186
Mortgage premium, net	676	1,165
Mortgage notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage notes payable	531,708	281,186
Significant Unobservable Inputs Level 3 | Mortgage notes payable | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	532,384	282,351
Mortgage notes payable	531,700	281,200
Mortgage premium, net	700	1,200
Significant Unobservable Inputs Level 3 | Mortgage notes payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	534,041	280,967
Significant Unobservable Inputs Level 3 | Credit facility | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	717,286	659,268
Significant Unobservable Inputs Level 3 | Credit facility | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	$ 717,286	$ 669,824

Listing Note (Details)

Listing Note (Details) - USD ($)	Jun. 02, 2015	Jan. 23, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Listing Amount (percent)	15.00%
Cumulative, non-compounded, pre-tax annual return (percent)	6.00%
Listing amount distribution measurement period (days)	30 days
Listing Note
Derivative [Line Items]
Derivative liability			$ 0	$ 0
Listing Note | Subsequent Event
Derivative [Line Items]
Derivative liability		$ 0

Derivative and Hedging Activi59

Derivative and Hedging Activities - Narrative (Details) € in Millions, £ in Millions	Feb. 04, 2015EUR (€)	Feb. 04, 2015GBP (£)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)derivative	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2015€ / $	Dec. 31, 2015£ / $	Dec. 31, 2015GBP (£)	May. 16, 2015USD ($)€ / $£ / $	Feb. 04, 2015GBP (£)	Dec. 31, 2014EUR (€)	Dec. 31, 2014GBP (£)
Derivative [Line Items]
Borrowings under credit facility				$ 476,208,000	$ 258,500,000	$ 0
Losses on ineffectiveness				400,000	0
Credit facility				717,286,000	659,268,000
Credit facility denominated in foreign currency				551,800,000
Real estate denominated in foreign currency				468,300,000
Overhedge position				83,500,000
Gain (loss) on derivative				19,000,000
Proceeds from termination of derivatives				10,055,000	0	0
Proceeds retained by bank to reduce debt balance				8,900,000
Exchange rate								1.09	1.48
Gains on hedges and derivatives deemed ineffective				5,124,000	1,387,000	0
Gains on derivative instruments				3,935,000	1,881,000	$ 0
Fair value of derivatives in net liability position				7,100,000
Not Designated as Hedging Instrument
Derivative [Line Items]
Remeasurement losses on foreign denominated draws				(3,600,000)
Gains on derivative instruments				$ 3,900,000	1,900,000
Not Designated as Hedging Instrument | Revisions
Derivative [Line Items]
Gains on derivative instruments			$ 1,100,000
GBP-USD Forwards
Derivative [Line Items]
Exchange rate | £ / $									1.48		1.58
EUR-USD Forwards
Derivative [Line Items]
Exchange rate | € / $								1.09			1.14
Interest rate swaps, net
Derivative [Line Items]
Number of interest rate swaps terminated (derivative) | derivative				2
Loss from termination of derivative				$ 38,000
Interest rate swaps, net | Interest rate swaps (EUR) | Interest Expense | Designated as Hedging Instrument
Derivative [Line Items]
Estimate of time to transfer (months)				12 months
Estimated net amount to be transferred				$ 4,400,000
Revolving Credit Facility
Derivative [Line Items]
Credit facility	€ 110.5											£ 68.5
JPMorgan Chase Bank, N.A. | Revolving Credit Facility
Derivative [Line Items]
Borrowings under credit facility	€ 110.5	£ 68.5
Credit facility				717,300,000	$ 659,300,000		€ 288.4			£ 160.2			€ 128	£ 169.8
Credit facility denominated in foreign currency							€ 27.9			£ 36
JPMorgan Chase Bank, N.A. | Revolving Credit Facility | Individual Investment | GBP-USD Forwards
Derivative [Line Items]
Credit facility				237,200,000
JPMorgan Chase Bank, N.A. | Revolving Credit Facility | Individual Investment | GBP-USD Forwards | Not Designated as Hedging Instrument
Derivative [Line Items]
Credit facility											$ 92,100,000
JPMorgan Chase Bank, N.A. | Revolving Credit Facility | Individual Investment | EUR-USD Forwards
Derivative [Line Items]
Credit facility				314,600,000
JPMorgan Chase Bank, N.A. | Revolving Credit Facility | Individual Investment | EUR-USD Forwards | Not Designated as Hedging Instrument
Derivative [Line Items]
Credit facility											$ 126,000,000
JPMorgan Chase Bank, N.A. | Foreign Line of Credit
Derivative [Line Items]
Credit facility				$ 551,800,000

Derivative and Hedging Activi60

Derivative and Hedging Activities - Schedule of Derivative Instruments in Statement of Financial Positions, Fair Value (Details) - Significant Other Observable Inputs Level 2 - Swap - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivatives, at fair value	$ (5,461)	$ 5,639
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivatives, at fair value	5,245	1,884
Interest rate swaps, net | Designated as Hedging Instrument | Derivative Financial Instruments, Assets | GBP-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	567	18
Interest rate swaps, net | Designated as Hedging Instrument | Derivative Financial Instruments, Liabilities | GBP-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	(3,313)	(4,353)
Interest rate swaps, net | Designated as Hedging Instrument | Derivative Financial Instruments, Liabilities | EUR-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	(2,715)	(1,315)
Foreign currency swaps | Designated as Hedging Instrument | Derivative Financial Instruments, Assets | GBP-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	0	4,517
Foreign currency swaps | Designated as Hedging Instrument | Derivative Financial Instruments, Assets | EUR-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	0	7,219
Foreign currency swaps | Designated as Hedging Instrument | Derivative Financial Instruments, Liabilities | GBP-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	0	(447)
Foreign currency swaps | Not Designated as Hedging Instrument | Derivative Financial Instruments, Assets | GBP-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	509	0
Foreign currency swaps | Not Designated as Hedging Instrument | Derivative Financial Instruments, Assets | EUR-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	2,533	0
Foreign currency forwards, net | Not Designated as Hedging Instrument | Derivative Financial Instruments, Assets | GBP-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	1,090	1,148
Foreign currency forwards, net | Not Designated as Hedging Instrument | Derivative Financial Instruments, Assets | EUR-USD Forwards
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	$ 1,113	$ 736

Derivative and Hedging Activi61

Derivative and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives, at fair value	$ 5,812	$ 13,638
Gross Amounts of Recognized (Liabilities)	(6,028)	(6,115)
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	(216)	7,523
Financial Instruments	0
Cash Collateral Received (Posted)	0
Net Amount	$ (216)	$ 7,523

Derivative and Hedging Activi62

Derivative and Hedging Activities - Schedule of Interest Rate Derivatives (Details) - Interest rate swaps (EUR) - Swap - Designated as Hedging Instrument $ in Thousands	Dec. 31, 2015USD ($)derivative	Dec. 31, 2014USD ($)derivative
Derivative [Line Items]
Number of Instruments | derivative	43	30
Notional Amount | $	$ 1,259,207	$ 654,224
GBP-USD
Derivative [Line Items]
Number of Instruments | derivative	27	20
Notional Amount | $	$ 697,925	$ 371,225
EUR-USD
Derivative [Line Items]
Number of Instruments | derivative	16	10
Notional Amount | $	$ 561,282	$ 282,999

Derivative and Hedging Activi63

Derivative and Hedging Activities - Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance (Details) - Interest rate swaps (EUR) - Interest rate swaps, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in accumulated other comprehensive income from derivatives (effective portion)	$ 8,800	$ 5,670	$ (1,901)
Amount of gain (loss) recognized in income on derivative instruments (ineffective portion and amount excluded from effectiveness testing)	(371)	0	0
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss reclassified from accumulated other comprehensive income into income as interest expense (effective portion)	$ (4,166)	$ (2,087)	$ (123)

Derivative and Hedging Activi64

Derivative and Hedging Activities - Schedule of Derivative Instruments (Details) - Designated as Hedging Instrument - Swap - Net Investment Hedging $ in Thousands	Dec. 31, 2014USD ($)derivative
Derivative [Line Items]
Number of instruments (derivative) | derivative	15
Notional Amount | $	$ 241,908
GBP-USD
Derivative [Line Items]
Number of instruments (derivative) | derivative	5
Notional Amount | $	$ 107,623
EUR-USD
Derivative [Line Items]
Number of instruments (derivative) | derivative	10
Notional Amount | $	$ 134,285

Derivative and Hedging Activi65

Derivative and Hedging Activities - Schedule of Credit Derivative (Details) - Not Designated as Hedging Instrument - Foreign currency swaps $ in Thousands	Dec. 31, 2015USD ($)derivative	Dec. 31, 2014USD ($)derivative
Schedule of Foreign Currency Swaps [Line Items]
Number of instruments (derivative) | derivative	69	111
Notional Amount | $	$ 195,457	$ 26,363
GBP-USD | Forward
Schedule of Foreign Currency Swaps [Line Items]
Number of instruments (derivative) | derivative	40	80
Notional Amount | $	$ 6,628	$ 13,664
GBP-USD | Swap
Schedule of Foreign Currency Swaps [Line Items]
Number of instruments (derivative) | derivative	9	0
Notional Amount | $	$ 82,843	$ 0
EUR-USD | Forward
Schedule of Foreign Currency Swaps [Line Items]
Number of instruments (derivative) | derivative	15	31
Notional Amount | $	$ 6,139	$ 12,699
EUR-USD | Swap
Schedule of Foreign Currency Swaps [Line Items]
Number of instruments (derivative) | derivative	5	0
Notional Amount | $	$ 99,847	$ 0

Common Stock (Details)

Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 06, 2015	Jun. 02, 2015	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common stock, outstanding (in shares)			168,936,633	177,933,175
Dividends paid on the 15th of each month (in dollars per share)		$ 0.059166667
Common Stock
Class of Stock [Line Items]
Tender offer common stock purchases (shares)	11,900,000
Tender offer price (usd per share)	$ 10.5	$ 10.5
Tender offer common stock purchases	$ 125

Common Stock - Schedule of Cumu

Common Stock - Schedule of Cumulative Share Repurchases (Details) - Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, cumulative repurchases (shares)	99,969
Redemptions (shares)	135,123	99,969
Shares repurchased under Tender Offer (shares)	11,904,762
Ending balance, cumulative repurchases (shares)	12,139,854	99,969
Beginning balance, cumulative repurchases (usd per share)	$ 9.91
Redemptions (usd per share)	9.78
Shares repurchased under Tender Offer (usd per share)	10.50
Ending balance, cumulative repurchases (usd per share)	$ 10.49	$ 9.91

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Ground Lease Payments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 1,306,000
2,017	1,307,000
2,018	1,307,000
2,019	1,307,000
2,020	1,307,000
2,021	1,307,000
Thereafter	41,251,000
Total	49,092,000
Rent expense	$ 300,000	$ 0

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	Sep. 30, 2015USD ($)	Jun. 02, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Apr. 01, 2015
Related Party Transaction [Line Items]
Due from affiliates			$ 500,000	$ 136,000	$ 500,000
Due to affiliates			400,000	$ 399,000	$ 400,000
Antidilutive securities (in shares) | shares				11,039,417	720,165	39,614
Proceeds from issuance of operating partnership units		$ 800,000		$ 750,000	$ 0	$ 0
Proceeds from redemption of investment securities				$ 463,000	0	0
Liability for offering and related costs from IPO (percent)				1.50%
Related party expenses				$ 18,653,000	0	0
Cumulative offering cost cap				11.50%
Cumulative offering costs, net of unpaid amounts				$ 188,100,000
Equity based compensation				$ 2,345,000	106,000	$ 24,000
Lock-out period of transferability or liquidity (years)		1 year
Europe | Unaffiliated Third Party Property Management Services | Contract Purchase Price
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark		50.00%
Europe | Unaffiliated Third Party Property Management Services | Amount Available or Outstanding Under Financing Arrangement
Related Party Transaction [Line Items]
Acquisition and financing coordination fees as a percentage of benchmark		50.00%
Europe | Gross Revenue, Managed Properties | Unaffiliated Third Party Property Management Services | Stand Alone, Single Tenant, Net Leased
Related Party Transaction [Line Items]
Property management fee, percent fee				0.25%
Europe | Gross Revenue, Managed Properties | Unaffiliated Third Party Property Management Services | All other properties, other than stand alone, single tenant, net leased
Related Party Transaction [Line Items]
Property management fee, percent fee				0.50%
Europe | Gross Revenue, Managed Properties | Unaffiliated Third Party Property Management Services | Singe Tenant Net Lease, Not Part of Shopping Center
Related Party Transaction [Line Items]
Property management fee, percent fee				1.75%
Europe | Gross Revenue, Managed Properties | Unaffiliated Third Party Property Management Services | All Other Property Types, Other Than Stand Alone, Single Tenant, Net Leased and Not Part of Shopping Center
Related Party Transaction [Line Items]
Property management fee, percent fee				3.50%
Third party professional fees and offering costs
Related Party Transaction [Line Items]
Due to affiliates			$ 400,000	$ 400,000	400,000
OP Units
Related Party Transaction [Line Items]
OP unit distributions paid				$ 600,000	$ 0
Class B units
Related Party Transaction [Line Items]
Equity based compensation		$ 14,500,000
Class B units
Related Party Transaction [Line Items]
Antidilutive securities (in shares) | shares		1,726,323		0	705,743	23,392
Class B units | Class B units
Related Party Transaction [Line Items]
Class B units conversion to OP units basis		1
OP Units
Related Party Transaction [Line Items]
Antidilutive securities (in shares) | shares		1,726,323		1,809,678	22	22
OP Units | OP Units
Related Party Transaction [Line Items]
Class B units conversion to OP units basis		1
Special Limited Partner
Related Party Transaction [Line Items]
Operating partnership units (in shares) | shares			244,444	244,444	244,444
Advisor | Amended Advisory Agreement
Related Party Transaction [Line Items]
Base fee		$ 18,000,000
Variable fee, percent of cumulative net proceeds		1.25%
Incentive Compensation, percent payable in cash		50.00%
Incentive Compensation, percent payable in shares		50.00%
Percent of Core AFFO per weighted average share outstanding in excess of incentive hurdle one		15.00%
Percent of Core AFFO per weighted average share outstanding, incentive hurdle one | $ / shares		$ 0.78
Percent of Core AFFO per weighted average share outstanding in excess of incentive hurdle two		10.00%
Percent of Core AFFO per weighted average share outstanding, incentive hurdle two | $ / shares		$ 1.02
Minimum base management fee and incentive compensation payable, maximum percent of assets under management, range one		1.25%
Minimum base management fee and incentive compensation payable, cap on annum aggregate amount, maximum amount of assets under management, range three		$ 5,000,000,000
Minimum base management fee and incentive compensation payable, maximum percent of assets under management, range two		0.95%
Minimum base management fee and incentive compensation payable, cap on annum aggregate amount, maximum amount of assets under management, range two		$ 15,000,000,000
Minimum base management fee and incentive compensation payable, cap on annum aggregate amount, maximum amount of assets under management, range three calculation base		1.25%
Minimum base management fee and incentive compensation payable, cap on annum aggregate amount, maximum amount of assets under management, range three denominator		$ 10,000,000,000
Minimum base management fee and incentive compensation payable, maximum percent of assets under management, range three		0.30%
Variable fee payable, maximum sale of investments to trigger possible reduction		$ 200,000,000
Advisor | Amended Advisory Agreement | Minimum
Related Party Transaction [Line Items]
Percent of Core AFFO per weighted average share outstanding, incentive hurdle annual adjustment		1.00%
Advisor | Amended Advisory Agreement | Maximum
Related Party Transaction [Line Items]
Percent of Core AFFO per weighted average share outstanding, incentive hurdle annual adjustment		3.00%
Minimum base management fee and incentive compensation payable, cap on annum aggregate amount, maximum amount of assets under management, range three		$ 15,000,000,000
Advisor | Class B units
Related Party Transaction [Line Items]
OP unit distributions paid				$ 300,000	$ 200,000
Advisor | OP Units
Related Party Transaction [Line Items]
Antidilutive securities (in shares) | shares		83,333		1,461,753
Advisor | American Realty Capital Global Advisors, LLC
Related Party Transaction [Line Items]
Due from affiliates			$ 500,000	$ 100,000	500,000
Advisor | American Realty Capital Global Advisors, LLC | Contract Purchase Price
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark		1.00%
Financing advance fees as a percentage of benchmark, expected third party costs		0.50%
Advisor | American Realty Capital Global Advisors, LLC | Advance on Loan or Other Investment
Related Party Transaction [Line Items]
Financing advance fees as a percentage of benchmark		1.00%
Advisor | American Realty Capital Global Advisors, LLC | Amount Available or Outstanding Under Financing Arrangement
Related Party Transaction [Line Items]
Acquisition and financing coordination fees as a percentage of benchmark		0.75%
Advisor | American Realty Capital Global Advisors, LLC | Europe | Portion of Fees Attributable to Related Party | Contract Purchase Price
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark		50.00%
Advisor | American Realty Capital Global Advisors, LLC | Europe | Portion of Fees Attributable to Related Party | Amount Available or Outstanding Under Financing Arrangement
Related Party Transaction [Line Items]
Acquisition and financing coordination fees as a percentage of benchmark		50.00%
Advisor | American Realty Capital Global Advisors, LLC | Greater Of | Average Invested Assets | Maximum
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark				2.00%
Advisor | American Realty Capital Global Advisors, LLC | Greater Of | Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets | Maximum
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark				25.00%
Advisor | American Realty Capital Global Advisors, LLC | Annual Targeted Investor Return | Pre-tax Non-compounded Return on Capital Contribution
Related Party Transaction [Line Items]
Cumulative capital investment return to investors as a percentage of benchmark							6.00%
Advisor | American Realty Capital Global Advisors, LLC and Realty Capital Securities, LLC | Fees and expense reimbursements to the Advisor and Former Dealer Manager
Related Party Transaction [Line Items]
Related party expenses				$ 500,000
Limited Partner | OP Units
Related Party Transaction [Line Items]
Antidilutive securities (in shares) | shares		22		22
Management | OP Units
Related Party Transaction [Line Items]
Antidilutive securities (in shares) | shares		83,333
Service Provider | OP Units
Related Party Transaction [Line Items]
Antidilutive securities (in shares) | shares				347,903
Affiliated Entity
Related Party Transaction [Line Items]
Proceeds from redemption of investment securities	$ 500,000
Affiliated Entity | RCS Capital
Related Party Transaction [Line Items]
Transaction fee (percent)			0.23%
Affiliated Entity | Listing Fee | RCS Capital
Related Party Transaction [Line Items]
Related party expenses				$ 6,000,000
Affiliated Entity | Listing Fee | Barclays Capital Inc.
Related Party Transaction [Line Items]
Related party expenses				6,100,000
Affiliated Entity | Personnel and Support Services | RCS Capital
Related Party Transaction [Line Items]
Related party expenses					2,500,000
Affiliated Entity | Transfer Agent Fees | American National Stock Transfer, LLC
Related Party Transaction [Line Items]
Related party expenses					$ 600,000
Affiliated Entity | General and Administrative Expense | Transfer Agent Fees | American National Stock Transfer, LLC
Related Party Transaction [Line Items]
Related party expenses				$ 800,000
Dealer Manager
Related Party Transaction [Line Items]
Transaction fee, as a percentage of transaction portfolio value				0.25%
Dealer Manager | Realty Capital Securities, LLC | Gross Proceeds, Retail Shares | Maximum
Related Party Transaction [Line Items]
Sales commissions as a percentage of benchmark				7.00%
Dealer Manager | Realty Capital Securities, LLC | Option One | Gross Proceeds, Retail Shares | Maximum
Related Party Transaction [Line Items]
Sales commissions as a percentage of benchmark				3.00%
Property Manager | American Realty Capital Global Properties, LLC | Gross Revenue, Managed Properties | Maximum
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark				1.00%
Property Manager | American Realty Capital Global Properties, LLC | Stand Alone, Single Tenant, Net Leased | Gross Revenue, Managed Properties | Maximum
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark				2.00%
Property Manager | American Realty Capital Global Properties, LLC | All other properties, other than stand alone, single tenant, net leased | Gross Revenue, Managed Properties | Maximum
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark				4.00%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Related party expenses	$ 18,653	$ 0	$ 0
Due to affiliates	399	400
Total commissions and fees to Former Dealer Manager | Realty Capital Securities, LLC | Dealer Manager
Related Party Transaction [Line Items]
Related party expenses	(8)	148,372
Due to affiliates	$ 0	$ 13

Related Party Transactions - 71

Related Party Transactions - Schedule of Offer Costs Reimbursements to Related Party (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Related party expenses	$ 18,653	$ 0	$ 0
Due to affiliates	399	400
Fees and expense reimbursements to the Advisor and Former Dealer Manager | American Realty Capital Global Advisors, LLC and Realty Capital Securities, LLC | Advisor and Dealer Manager
Related Party Transaction [Line Items]
Related party expenses	0	16,920
Due to affiliates	$ 0	$ 61

Related Party Transactions - 72

Related Party Transactions - Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Related party expenses	$ 18,653	$ 0	$ 0
Due to affiliates	399	400
Affiliated Entity | General and Administrative Expense | Transfer Asset and Personnel Services
Related Party Transaction [Line Items]
Related party expenses	$ 800
United States | Advisor
Related Party Transaction [Line Items]
Percent of fees from net assets waived (percent)	100.00%
Europe | Advisor
Related Party Transaction [Line Items]
Percent of fees from net assets waived (percent)	50.00%
Incurred
Related Party Transaction [Line Items]
Related party expenses	$ 34,571	41,516	3,951
Forgiven
Related Party Transaction [Line Items]
Related party expenses	2,507	690	25
Payable
Related Party Transaction [Line Items]
Due to affiliates	1,149	54	1
Acquisition fees and related cost reimbursements | Nonrecurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	735	32,915	2,447
Acquisition fees and related cost reimbursements | Nonrecurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
Acquisition fees and related cost reimbursements | Nonrecurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	0	2	0
Transaction fee | Nonrecurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses		0	165
Transaction fee | Nonrecurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates		0	0
Financing coordination fees | Nonrecurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	1,159	6,546	926
Financing coordination fees | Nonrecurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
Financing coordination fees | Nonrecurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	466	0	0
Asset management fees | Recurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	13,501	0	0
Asset management fees | Recurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
Asset management fees | Recurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	217	0	0
Property management and leasing fees | Recurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	3,982	1,316	50
Property management and leasing fees | Recurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	2,507	690	25
Property management and leasing fees | Recurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	91	52	1
Strategic advisory fees | Recurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	0	561	359
Strategic advisory fees | Recurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
Strategic advisory fees | Recurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	0	0	0
Class B OP Unit Distributions | Recurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	339	178	4
Class B OP Unit Distributions | Recurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
Class B OP Unit Distributions | Recurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	0	0	0
LTIP Distributions | Recurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	375	0	0
LTIP Distributions | Recurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
LTIP Distributions | Recurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	375	0	0
Vesting of Class B Units | Recurring Fees | Incurred
Related Party Transaction [Line Items]
Related party expenses	14,480	0	0
Vesting of Class B Units | Recurring Fees | Forgiven
Related Party Transaction [Line Items]
Related party expenses	0	0	0
Vesting of Class B Units | Recurring Fees | Payable
Related Party Transaction [Line Items]
Due to affiliates	$ 0	$ 0	$ 0

Related Party Transactions - 73

Related Party Transactions - Schedule of General and Administrative Expenses Absorbed by Affiliate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Expenses absorbed	$ 0	$ 178	$ 1,296
Due from affiliates	136	500
American Realty Capital Global Advisors, LLC | Advisor
Related Party Transaction [Line Items]
Due from affiliates	100	500
American Realty Capital Global Advisors, LLC | Property operating expenses absorbed | Advisor
Related Party Transaction [Line Items]
Expenses absorbed	0	178	4
American Realty Capital Global Advisors, LLC | General and administrative expenses absorbed | Advisor
Related Party Transaction [Line Items]
Expenses absorbed	$ 0	0	1,292
Due from affiliates		$ 500	$ 100

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	Feb. 25, 2016company	Jul. 15, 2015	Jul. 13, 2015USD ($)shares	Jun. 02, 2015USD ($)$ / sharesshares	Apr. 08, 2015$ / shares	Apr. 07, 2015shares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares	Jun. 30, 2014$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (usd per share) | $ / shares					$ 0.01		$ 0.01	$ 0.01		$ 0.01
Equity based compensation | $							$ 2,345,000	$ 0	$ 0
Lock-out period of transferability or liquidity (years)				1 year
Non-controlling interest | $							$ 14,726,000	$ 0
Incentive Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of outstanding stock					10.00%
Stock Option Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares) | shares							500,000
Director Stock Plan | Unvested restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				5 years		5 years
Incentive Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual retainer payable, cash percentage				50.00%
Annual retainer payable, restricted stock units percentage				50.00%
Incentive Restricted Share Plan | Unvested restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares) | shares						7,500,000
Automatic grant (shares) | shares						3,000
Periodic vesting percentage						20.00%
RSUs granted (shares) | shares							3,000
RSUs granted (in dollars per share) | $ / shares							$ 9
Maximum percentage of outstanding stock						5.00%
Incentive Restricted Share Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Restricted Share Plan | Unvested restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted (shares) | shares								9,000	9,000
RSUs granted (in dollars per share) | $ / shares								$ 9	$ 9
Equity based compensation | $							$ 200,000	$ 100,000	$ 24,000
Unrecognized compensation cost | $							$ 1,400,000
Period for recognition							4 years 2 months 27 days
Multi-Year Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period							30 days
Equity based compensation | $							$ 2,200,000	0
Shares issued in the period (shares) | shares				9,041,801
Percent of market capitalization				5.00%
Percent of distributions							10.00%
Non-controlling interest | $							$ 400,000
Multi-Year Outperformance Plan | Performance Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Multi-Year Outperformance Plan | Interim Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				2 years
Independent Directors | Incentive Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual retainer payable | $			$ 100,000	$ 100,000
Annual retainer payable, cash percentage			50.00%
Independent Directors | Incentive Restricted Share Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Annual retainer payable, restricted stock units percentage			50.00%
RSUs granted (shares) | shares			7,352
Non-Executive Chair | Incentive Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual retainer payable | $			$ 100,000	105,000
Non-Executive Chair | Incentive Restricted Share Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Annual retainer payable, restricted stock units percentage			50.00%
RSUs granted (shares) | shares			5,882
Directors, Serving on Committees | Incentive Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual retainer payable | $				$ 30,000
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based compensation | $								$ 10,000
Stock issued for services during the period | shares							0	1,056	0
Director | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted (shares) | shares				40,000
RSUs granted (in dollars per share) | $ / shares				$ 8.52
Subsequent Event | Multi-Year Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of peer group companies merged (company) | company	2

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Restricted Share Award Activity (Details) - Unvested restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted Share Plan
Number of Restricted Shares
Unvested Shares Beginning Balance	14,400	16,200	9,000
Granted (shares)		9,000	9,000
Vested (shares)	(17,400)	(10,800)	(1,800)
Unvested Shares Ending Balance	187,938	14,400	16,200
Weighted-Average Issue Price
Weighted Average Price Beginning Balance	$ 9	$ 9	$ 9
Granted (in dollars per share)		9	9
Vested (in dollars per share)	9	9	9
Weighted Average Price Ending Balance	$ 8.57	$ 9	$ 9
Incentive Restricted Share Plan
Number of Restricted Shares
Granted (shares)	3,000
Weighted-Average Issue Price
Granted (in dollars per share)	$ 9
One-time Listing Grant Plan
Number of Restricted Shares
Granted (shares)	160,000
Weighted-Average Issue Price
Granted (in dollars per share)	$ 8.52
Amended Incentive Restricted Share Plan
Number of Restricted Shares
Granted (shares)	27,938
Weighted-Average Issue Price
Granted (in dollars per share)	$ 8.84

Share-Based Compensation - Sc76

Share-Based Compensation - Schedule of Total Return (Details) - USD ($)	Jun. 02, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Lock-out period of transferability or liquidity (years)	1 year
Equity based compensation		$ 2,345,000	$ 0	$ 0
Multi-Year Outperformance Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		30 days
Equity based compensation		$ 2,200,000	$ 0
Multi-Year Outperformance Plan | Performance Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Share Based Compensation Arrangement By Share Based Payment Award, Absolute Component, Base Percent	4.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, Base Percent	4.00%
Share Based Compensation Arrangement By Share Based Payment Award, Absolute Component of Total Return, Percent	21.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 100% of Cumulative Total Return, Percent	18.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50% of Cumulative Total Return, Percent	0.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 0% of Cumulative Total Return, Percent	0.00%
Multi-Year Outperformance Plan | Performance Period | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50%-100% of Cumulative Total Return, Percent	0.00%
Multi-Year Outperformance Plan | Performance Period | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50%-100% of Cumulative Total Return, Percent	18.00%
Multi-Year Outperformance Plan | Annual Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Absolute Component, Base Percent	4.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, Base Percent	4.00%
Share Based Compensation Arrangement By Share Based Payment Award, Absolute Component of Total Return, Percent	7.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 100% of Cumulative Total Return, Percent	6.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50% of Cumulative Total Return, Percent	0.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 0% of Cumulative Total Return, Percent	0.00%
Multi-Year Outperformance Plan | Annual Period | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50%-100% of Cumulative Total Return, Percent	0.00%
Multi-Year Outperformance Plan | Annual Period | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50%-100% of Cumulative Total Return, Percent	6.00%
Multi-Year Outperformance Plan | Interim Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Share Based Compensation Arrangement By Share Based Payment Award, Absolute Component, Base Percent	4.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, Base Percent	4.00%
Share Based Compensation Arrangement By Share Based Payment Award, Absolute Component of Total Return, Percent	14.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 100% of Cumulative Total Return, Percent	12.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50% of Cumulative Total Return, Percent	0.00%
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 0% of Cumulative Total Return, Percent	0.00%
Multi-Year Outperformance Plan | Interim Period | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50%-100% of Cumulative Total Return, Percent	0.00%
Multi-Year Outperformance Plan | Interim Period | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award, Relative Component, 50%-100% of Cumulative Total Return, Percent	12.00%

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net loss attributable to stockholders	$ 12,312,000	$ 5,432,000	$ (45,664,000)	$ 25,855,000					$ (2,065,000)	$ (53,594,000)	$ (6,989,000)
Adjustments to net income (loss) attributable to stockholders for common share equivalents	(193,000)	(249,000)	0	0					(442,000)	0	0
Adjusted net loss attributable to stockholders	$ 12,119,000	$ 5,183,000	$ (45,664,000)	$ 25,855,000					$ (2,507,000)	$ (53,594,000)	$ (6,989,000)
Basic and diluted net income (loss) per share (usd per share)	$ 0.07	$ 0.03	$ (0.25)	$ 0.14	$ (0.03)	$ (0.14)	$ (0.07)	$ (0.43)	$ (0.01)	$ (0.43)	$ (1.28)
Basic and diluted weighted average shares outstanding (in shares)	168,936,633	168,948,345	180,380,436	179,156,462	177,414,574	175,401,867	111,819,848	37,602,790	174,309,894	126,079,369	5,453,404

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities (Details) - shares	Jun. 02, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)		11,039,417	720,165	39,614
Unvested restricted stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)		187,938	14,400	16,200
OP Units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)	1,726,323	1,809,678	22	22
OP Units | Advisor
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)	83,333	1,461,753
OP Units | Limited Partner
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)	22	22
Class B units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)	1,726,323	0	705,743	23,392
OPP (LTIP Units)
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities (in shares)		9,041,801	0	0

Quarterly Results (Unaudited) -

Quarterly Results (Unaudited) - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivative instruments					$ 3,935	$ 1,881	$ 0
Operating expense reimbursements					10,712	5,225	$ 51
Accounting Errors for Accrued Operating Expense Reimbursement Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Operating expense reimbursements	$ 1,000	$ 300	$ 300	$ 400
Reversal of Recognized Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Operating expense reimbursements	$ (1,000)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivative instruments					$ 3,900	$ 1,900
As originally reported
Derivative Instruments, Gain (Loss) [Line Items]
Gains included in other comprehensive income (loss)			$ 600	$ 500
Revisions | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivative instruments		$ 1,100

Quarterly Results (Unaudited)80

Quarterly Results (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 56,043,000	$ 50,252,000	$ 49,068,000	$ 49,969,000	$ 46,306,000	$ 25,902,000	$ 13,628,000	$ 7,547,000	$ 205,332,000	$ 93,383,000	$ 3,951,000
Net loss attributable to stockholders	12,312,000	5,432,000	(45,664,000)	25,855,000					(2,065,000)	(53,594,000)	(6,989,000)
Adjustments to net income (loss) attributable to stockholders for common share equivalents	(193,000)	(249,000)	0	0					(442,000)	0	0
Net Income (Loss) Available to Common Stockholders, Diluted	$ 12,119,000	$ 5,183,000	$ (45,664,000)	$ 25,855,000					(2,507,000)	(53,594,000)	(6,989,000)
Net loss					$ (5,208,000)	$ (24,558,000)	$ (7,479,000)	$ (16,349,000)	$ (2,065,000)	$ (53,594,000)	$ (6,989,000)
Basic and diluted weighted average shares outstanding	168,936,633	168,948,345	180,380,436	179,156,462	177,414,574	175,401,867	111,819,848	37,602,790	174,309,894	126,079,369	5,453,404
Basic and diluted net income (loss) per share (usd per share)	$ 0.07	$ 0.03	$ (0.25)	$ 0.14	$ (0.03)	$ (0.14)	$ (0.07)	$ (0.43)	$ (0.01)	$ (0.43)	$ (1.28)

Schedule III - Part 1 (Details)

Schedule III - Part 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 531,708
Initial cost, land	341,911	$ 100	$ 326,696
Initial cost, buildings and improvements	1,685,919	3,400	1,519,558
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	180
Real estate, gross	2,028,010		1,855,960	$ 149,009	$ 1,729
Accumulated depreciation	68,078	$ 25	$ 21,319	$ 869	$ 12
McDonalds Corporation, Carlisle, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,125
Initial cost, land	475
Initial cost, buildings and improvements	1,109
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,584
Accumulated depreciation	203
Wickes, Blackpool, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,882
Initial cost, land	1,999
Initial cost, buildings and improvements	2,147
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,146
Accumulated depreciation	275
Everything Everywhere, Merthr Tydfil, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,922
Initial cost, land	4,071
Initial cost, buildings and improvements	2,591
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,662
Accumulated depreciation	323
Thames Water, Swindon, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,882
Initial cost, land	4,071
Initial cost, buildings and improvements	4,811
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,882
Accumulated depreciation	561
Wickes, Tunstall, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,443
Initial cost, land	1,036
Initial cost, buildings and improvements	2,369
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,405
Accumulated depreciation	275
PPD Global Labs, Highland Heights, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,001
Initial cost, buildings and improvements	6,002
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,003
Accumulated depreciation	758
Northern Rock, Sunderland, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,772
Initial cost, land	1,480
Initial cost, buildings and improvements	5,181
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,661
Accumulated depreciation	583
Kulicke & Soffa, Fort Washington, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,272
Initial cost, buildings and improvements	12,874
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,146
Accumulated depreciation	1,449
Wickes, Clifton, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,813
Initial cost, land	1,480
Initial cost, buildings and improvements	2,073
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,553
Accumulated depreciation	216
Con-way Freight, Aurora, NE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	295
Initial cost, buildings and improvements	1,670
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,965
Accumulated depreciation	212
Con-way Freight, Grand Rapids, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	945
Initial cost, buildings and improvements	1,417
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,362
Accumulated depreciation	180
Con-way Freight, Riverton, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	344
Initial cost, buildings and improvements	804
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,148
Accumulated depreciation	102
Con-way Freight, Salina, KS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	461
Initial cost, buildings and improvements	1,843
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,304
Accumulated depreciation	234
Con-way Freight, Uhrichsville, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	380
Initial cost, buildings and improvements	886
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,266
Accumulated depreciation	113
Con-way Freight, Vincennes, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	220
Initial cost, buildings and improvements	712
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	932
Accumulated depreciation	88
Con-way Freight, Waite Park, MN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	366
Initial cost, buildings and improvements	681
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,047
Accumulated depreciation	87
Wolverine, Howard City, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	719
Initial cost, buildings and improvements	13,667
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,386
Accumulated depreciation	1,667
Western Digital, San Jose, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	17,982
Initial cost, land	9,021
Initial cost, buildings and improvements	16,729
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	25,750
Accumulated depreciation	1,616
Encanto, Baymon, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,794
Initial cost, land	1,150
Initial cost, buildings and improvements	1,724
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,874
Accumulated depreciation	191
Encanto, Caguas, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,560
Initial cost, land	0
Initial cost, buildings and improvements	2,481
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,481
Accumulated depreciation	275
Encanto, Carolina I, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	858
Initial cost, land	615
Initial cost, buildings and improvements	751
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,366
Accumulated depreciation	83
Encanto, Carolina II, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,886
Initial cost, land	1,840
Initial cost, buildings and improvements	2,761
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,601
Accumulated depreciation	306
Encanto, Guayama, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	936
Initial cost, land	673
Initial cost, buildings and improvements	822
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,495
Accumulated depreciation	91
Encanto, Mayaguez, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	858
Initial cost, land	410
Initial cost, buildings and improvements	957
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,367
Accumulated depreciation	106
Encanto, Ponce I, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,365
Initial cost, land	655
Initial cost, buildings and improvements	1,528
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,183
Accumulated depreciation	169
Encanto, Ponce II, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,248
Initial cost, land	600
Initial cost, buildings and improvements	1,399
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,999
Accumulated depreciation	161
Encanto, Puerto Neuvo, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	507
Initial cost, land	0
Initial cost, buildings and improvements	782
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	782
Accumulated depreciation	87
Encanto, Quebrada Arena, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,505
Initial cost, land	844
Initial cost, buildings and improvements	1,565
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,409
Accumulated depreciation	174
Encanto, Rio Piedras I, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,716
Initial cost, land	963
Initial cost, buildings and improvements	1,788
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,751
Accumulated depreciation	198
Encanto, Rio Piedras II, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,053
Initial cost, land	505
Initial cost, buildings and improvements	1,179
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,684
Accumulated depreciation	131
Encanto, San German, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	702
Initial cost, land	391
Initial cost, buildings and improvements	726
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,117
Accumulated depreciation	83
Encanto, San Juan I, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	975
Initial cost, land	389
Initial cost, buildings and improvements	1,168
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,557
Accumulated depreciation	129
Encanto, San Juan II, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,716
Initial cost, land	1,235
Initial cost, buildings and improvements	1,509
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,744
Accumulated depreciation	167
Encanto, San Juan III, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	483
Initial cost, land	153
Initial cost, buildings and improvements	612
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	765
Accumulated depreciation	68
Encanto, Toa Baja, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	429
Initial cost, land	68
Initial cost, buildings and improvements	616
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	684
Accumulated depreciation	71
Encanto, Vega Baja, PR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,466
Initial cost, land	822
Initial cost, buildings and improvements	1,527
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,349
Accumulated depreciation	169
Rheinmetall, Neuss, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,561
Initial cost, land	5,608
Initial cost, buildings and improvements	15,746
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	21,354
Accumulated depreciation	855
GE Aviation, Grand Rapids, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,174
Initial cost, buildings and improvements	27,076
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	30,250
Accumulated depreciation	1,442
Provident Financial, Bradford, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	18,875
Initial cost, land	1,493
Initial cost, buildings and improvements	27,702
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	29,195
Accumulated depreciation	1,353
Crown Crest, Leicester, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,498
Initial cost, land	8,508
Initial cost, buildings and improvements	35,133
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	43,641
Accumulated depreciation	1,956
Trane, Davenport, IA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	291
Initial cost, buildings and improvements	1,968
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,259
Accumulated depreciation	118
Aviva, Sheffield, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	23,242
Initial cost, land	3,216
Initial cost, buildings and improvements	36,447
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	39,663
Accumulated depreciation	1,758
DFS Trading, Brigg, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,136
Initial cost, land	1,503
Initial cost, buildings and improvements	4,261
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,764
Accumulated depreciation	224
DFS Trading, Carcroft I, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,737
Initial cost, land	343
Initial cost, buildings and improvements	2,462
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,805
Accumulated depreciation	136
DFS Trading, Carcroft II, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,741
Initial cost, land	1,263
Initial cost, buildings and improvements	5,003
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,266
Accumulated depreciation	243
DFS Trading, Darley Dale, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,912
Initial cost, land	1,478
Initial cost, buildings and improvements	3,795
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,273
Accumulated depreciation	203
DFS Trading, Somercotes, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,486
Initial cost, land	869
Initial cost, buildings and improvements	3,101
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,970
Accumulated depreciation	196
Government Services Administration, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	4,160
Initial cost, buildings and improvements	30,083
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	34,243
Accumulated depreciation	1,400
National Oilwell Varco, Williston, ND
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	211
Initial cost, buildings and improvements	3,513
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,724
Accumulated depreciation	221
Talk Talk, Manchester, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,662
Initial cost, land	868
Initial cost, buildings and improvements	10,323
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,191
Accumulated depreciation	501
Government Services Administration, Dover, DE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,097
Initial cost, buildings and improvements	1,715
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,812
Accumulated depreciation	86
Government Services Administration, Germantown, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,098
Initial cost, buildings and improvements	3,572
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,670
Accumulated depreciation	160
OBI DIY, Mayen, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,908
Initial cost, land	1,222
Initial cost, buildings and improvements	7,295
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,517
Accumulated depreciation	371
DFS Trading, South Yorkshire, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,328
Initial cost, land	0
Initial cost, buildings and improvements	1,548
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,548
Accumulated depreciation	104
DFS Trading, Yorkshire, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,186
Initial cost, land	0
Initial cost, buildings and improvements	2,017
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,017
Accumulated depreciation	91
Government Services Administration, Dallas, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	484
Initial cost, buildings and improvements	2,934
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,418
Accumulated depreciation	131
Government Services Administration, Mission, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	618
Initial cost, buildings and improvements	3,145
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,763
Accumulated depreciation	148
Government Services Administration, International Falls, MN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	350
Initial cost, buildings and improvements	11,182
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,532
Accumulated depreciation	511
Indiana Department of Revenue, Indianapols, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	891
Initial cost, buildings and improvements	7,677
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,568
Accumulated depreciation	361
National Oilwell Varco, Pleasanton, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	282
Initial cost, buildings and improvements	5,015
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,297
Accumulated depreciation	118
Nissan, Murfreesboro, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	966
Initial cost, buildings and improvements	19,573
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	20,539
Accumulated depreciation	813
Government Services Administration, Lakewood, CO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,220
Initial cost, buildings and improvements	7,928
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,148
Accumulated depreciation	330
Lippert Components, South Bend, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,195
Initial cost, buildings and improvements	6,883
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,078
Accumulated depreciation	293
Axon Energy Products, Conroe, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	826
Initial cost, buildings and improvements	6,132
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,958
Accumulated depreciation	247
Axon Energy Products, Houston I, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	416
Initial cost, buildings and improvements	5,186
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,602
Accumulated depreciation	226
Axon Energy Products, Houston II, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	294
Initial cost, buildings and improvements	2,310
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,604
Accumulated depreciation	104
Bell Supply Co, Carrizo Springs, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	260
Initial cost, buildings and improvements	1,445
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,705
Accumulated depreciation	75
Bell Supply Co, Cleburne, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	301
Initial cost, buildings and improvements	323
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	624
Accumulated depreciation	19
Bell Supply Co, Frierson, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	260
Initial cost, buildings and improvements	1,054
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,314
Accumulated depreciation	75
Bell Supply Co, Gainesville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	131
Initial cost, buildings and improvements	1,420
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,551
Accumulated depreciation	62
Bell Supply Co, Killdeer, ND
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	307
Initial cost, buildings and improvements	1,250
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,557
Accumulated depreciation	63
Bell Supply Co, Williston, ND
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	162
Initial cost, buildings and improvements	2,323
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,485
Accumulated depreciation	105
GE Oil & Gas, Canton, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	437
Initial cost, buildings and improvements	3,039
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,476
Accumulated depreciation	137
GE Oil & Gas, Odessa, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,611
Initial cost, buildings and improvements	3,322
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,933
Accumulated depreciation	270
Lhoist, Irving, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	173
Initial cost, buildings and improvements	2,154
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,327
Accumulated depreciation	114
Select Energy Services, DeBerry, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	533
Initial cost, buildings and improvements	7,551
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,084
Accumulated depreciation	522
Select Energy Services, Gainesville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	519
Initial cost, buildings and improvements	7,482
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,001
Accumulated depreciation	307
Select Energy Services, Victoria, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	354
Initial cost, buildings and improvements	1,698
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,052
Accumulated depreciation	91
Bell Supply Co, Jacksboro, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	51
Initial cost, buildings and improvements	657
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	708
Accumulated depreciation	45
Bell Supply Co, Kenedy, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	190
Initial cost, buildings and improvements	1,669
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,859
Accumulated depreciation	90
Select Energy Services, Alice, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	518
Initial cost, buildings and improvements	1,331
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,849
Accumulated depreciation	62
Select Energy Services, Dilley, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	429
Initial cost, buildings and improvements	1,777
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,206
Accumulated depreciation	97
Select Energy Services, Kenedy, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	815
Initial cost, buildings and improvements	8,355
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,170
Accumulated depreciation	392
Select Energy Services, Laredo, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,472
Initial cost, buildings and improvements	944
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,416
Accumulated depreciation	66
Superior Energy Services, Gainesville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	322
Initial cost, buildings and improvements	480
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	802
Accumulated depreciation	20
Superior Energy Services, Jacksboro, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	408
Initial cost, buildings and improvements	312
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	720
Accumulated depreciation	18
Amcor Packaging, Workington, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,628
Initial cost, land	1,289
Initial cost, buildings and improvements	7,597
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,886
Accumulated depreciation	368
Government Services Administration, Raton, NM
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	93
Initial cost, buildings and improvements	875
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	968
Accumulated depreciation	39
Nimble Storage, San Jose, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	30,227
Initial cost, buildings and improvements	10,708
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	180
Real estate, gross	41,115
Accumulated depreciation	425
FedEx, Amarillo, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	889
Initial cost, buildings and improvements	6,421
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,310
Accumulated depreciation	312
FedEx, Chicopee, MA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,030
Initial cost, buildings and improvements	7,022
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,052
Accumulated depreciation	358
FedEx, San Antonio, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,283
Initial cost, buildings and improvements	17,729
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	21,012
Accumulated depreciation	718
Sandoz, Princeton, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	7,766
Initial cost, buildings and improvements	43,552
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	51,318
Accumulated depreciation	2,223
Wyndham, Branson, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	881
Initial cost, buildings and improvements	3,307
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,188
Accumulated depreciation	142
Valassis, Livonia, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,735
Initial cost, buildings and improvements	8,119
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,854
Accumulated depreciation	319
Government Services Administration, Fort Fairfield, ME
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	26
Initial cost, buildings and improvements	9,315
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,341
Accumulated depreciation	337
AT&T Services, Inc., San Antonio, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	33,550
Initial cost, land	5,312
Initial cost, buildings and improvements	41,201
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	46,513
Accumulated depreciation	1,474
PNC Bank, Erie, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	242
Initial cost, buildings and improvements	6,195
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,437
Accumulated depreciation	226
PNC Bank, Scranton, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,325
Initial cost, buildings and improvements	3,003
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,328
Accumulated depreciation	113
Achmea, Leusden, Netherlands
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,777
Initial cost, buildings and improvements	21,638
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,415
Accumulated depreciation	$ 778

Schedule III - Part 2 (Details)

Schedule III - Part 2 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 531,708
Initial cost, land	341,911	$ 100	$ 326,696
Initial cost, buildings and improvements	1,685,919	3,400	1,519,558
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	180
Real estate, gross	2,028,010		1,855,960	$ 149,009	$ 1,729
Accumulated depreciation	68,078	$ 25	$ 21,319	$ 869	$ 12
Continental Tire, For Mill, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	780
Initial cost, buildings and improvements	14,259
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,039
Accumulated depreciation	520
Fujitsu Office Properties, Manchester, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	36,684
Initial cost, land	4,181
Initial cost, buildings and improvements	45,253
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	49,434
Accumulated depreciation	1,675
BP Oil, Wootton Bassett, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,159
Initial cost, land	678
Initial cost, buildings and improvements	2,931
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,609
Accumulated depreciation	115
HBOS, Derby, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,293
Initial cost, land	680
Initial cost, buildings and improvements	6,854
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,534
Accumulated depreciation	279
HBOS, St. Helens, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,193
Initial cost, land	258
Initial cost, buildings and improvements	3,884
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,142
Accumulated depreciation	159
HBOS, Warrington, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,493
Initial cost, land	492
Initial cost, buildings and improvements	2,320
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,812
Accumulated depreciation	102
Malthurst, Shiptonthorpe, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,439
Initial cost, land	312
Initial cost, buildings and improvements	2,218
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,530
Accumulated depreciation	96
Malthurst, Yorkshire, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,139
Initial cost, land	553
Initial cost, buildings and improvements	1,452
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,005
Accumulated depreciation	82
Stanley Black & Decker, Westerville, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	958
Initial cost, buildings and improvements	6,933
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,891
Accumulated depreciation	262
Thermo Fisher, Kalamazoo, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,176
Initial cost, buildings and improvements	10,179
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,355
Accumulated depreciation	365
Capgemini, Birmingham, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,142
Initial cost, land	1,843
Initial cost, buildings and improvements	17,470
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,313
Accumulated depreciation	649
Merck, Madison, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	10,290
Initial cost, buildings and improvements	32,531
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	42,821
Accumulated depreciation	1,106
Family Dollar, Abberville, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	115
Initial cost, buildings and improvements	635
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	750
Accumulated depreciation	28
Family Dollar, Aiken, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	439
Initial cost, buildings and improvements	505
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	944
Accumulated depreciation	24
Family Dollar, Alapaha, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	200
Initial cost, buildings and improvements	492
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	692
Accumulated depreciation	24
Family Dollar, Anniston, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	176
Initial cost, buildings and improvements	618
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	794
Accumulated depreciation	26
Family Dollar, Atlanta, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	234
Initial cost, buildings and improvements	1,181
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,415
Accumulated depreciation	45
Family Dollar, Bossier City, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	291
Initial cost, buildings and improvements	520
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	811
Accumulated depreciation	22
Family Dollar, Brandenburg, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	178
Initial cost, buildings and improvements	748
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	926
Accumulated depreciation	31
Family Dollar, Brownfield, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	31
Initial cost, buildings and improvements	664
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	695
Accumulated depreciation	25
Family Dollar, Brownsville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	83
Initial cost, buildings and improvements	803
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	886
Accumulated depreciation	31
Family Dollar, Caledonia, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	415
Initial cost, buildings and improvements	162
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	577
Accumulated depreciation	12
Family Dollar, Camden, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	187
Initial cost, buildings and improvements	608
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	795
Accumulated depreciation	27
Family Dollar, Camp Wood, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	96
Initial cost, buildings and improvements	593
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	689
Accumulated depreciation	26
Family Dollar, Church Point, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	247
Initial cost, buildings and improvements	563
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	810
Accumulated depreciation	24
Family Dollar, Columbia, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	363
Initial cost, buildings and improvements	487
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	850
Accumulated depreciation	24
Family Dollar, Columbus, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	305
Initial cost, buildings and improvements	85
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	390
Accumulated depreciation	6
Family Dollar, Danville, VA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	124
Initial cost, buildings and improvements	660
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	784
Accumulated depreciation	26
Family Dollar, Detroit, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	107
Initial cost, buildings and improvements	711
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	818
Accumulated depreciation	25
Family Dollar, Diamond Head, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	104
Initial cost, buildings and improvements	834
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	938
Accumulated depreciation	32
Family Dollar, Eatonville, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	332
Initial cost, buildings and improvements	584
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	916
Accumulated depreciation	30
Family Dollar, Falfurrias, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	52
Initial cost, buildings and improvements	745
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	797
Accumulated depreciation	26
Family Dollar, Fayetteville, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	100
Initial cost, buildings and improvements	437
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	537
Accumulated depreciation	16
Family Dollar, Fort Davis, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	114
Initial cost, buildings and improvements	698
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	812
Accumulated depreciation	31
Family Dollar, Fort Madison, IA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	188
Initial cost, buildings and improvements	226
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	414
Accumulated depreciation	11
Family Dollar, Greenwood, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	629
Initial cost, buildings and improvements	546
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,175
Accumulated depreciation	22
Family Dollar, Grenada, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	346
Initial cost, buildings and improvements	335
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	681
Accumulated depreciation	18
Family Dollar, Griffin, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	369
Initial cost, buildings and improvements	715
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,084
Accumulated depreciation	31
Family Dollar, Hallsville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	96
Initial cost, buildings and improvements	225
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	321
Accumulated depreciation	8
Family Dollar, Hardeeville, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	83
Initial cost, buildings and improvements	663
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	746
Accumulated depreciation	28
Family Dollar, Hastings, NE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	260
Initial cost, buildings and improvements	515
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	775
Accumulated depreciation	20
Family Dollar, Haw River, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	310
Initial cost, buildings and improvements	554
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	864
Accumulated depreciation	30
Family Dollar, Jacksonville, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	369
Initial cost, buildings and improvements	544
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	913
Accumulated depreciation	24
Family Dollar, Kansas City, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	52
Initial cost, buildings and improvements	986
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,038
Accumulated depreciation	33
Family Dollar, Knoxville, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	82
Initial cost, buildings and improvements	714
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	796
Accumulated depreciation	29
Family Dollar, La Feria, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	124
Initial cost, buildings and improvements	956
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,080
Accumulated depreciation	35
Family Dollar, Lancaster, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	229
Initial cost, buildings and improvements	721
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	950
Accumulated depreciation	33
Family Dollar, Lillian, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	410
Initial cost, buildings and improvements	508
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	918
Accumulated depreciation	22
Family Dollar, Louisville, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	511
Initial cost, buildings and improvements	503
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,014
Accumulated depreciation	23
Family Dollar, Louisville, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	235
Initial cost, buildings and improvements	410
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	645
Accumulated depreciation	20
Family Dollar, Madisonville, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	389
Initial cost, buildings and improvements	576
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	965
Accumulated depreciation	25
Family Dollar, Memphis I, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	356
Initial cost, buildings and improvements	507
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	863
Accumulated depreciation	23
Family Dollar, Memphis II, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	79
Initial cost, buildings and improvements	342
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	421
Accumulated depreciation	16
Family Dollar, Memphis III, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	158
Initial cost, buildings and improvements	301
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	459
Accumulated depreciation	15
Family Dollar, Mendenhall, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	61
Initial cost, buildings and improvements	720
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	781
Accumulated depreciation	28
Family Dollar, Mobile, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	258
Initial cost, buildings and improvements	682
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	940
Accumulated depreciation	27
Family Dollar, Mohave Valley, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	284
Initial cost, buildings and improvements	575
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	859
Accumulated depreciation	30
Family Dollar, N Platte, NE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	117
Initial cost, buildings and improvements	255
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	372
Accumulated depreciation	9
Family Dollar, Nampa, ID
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	133
Initial cost, buildings and improvements	1,126
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,259
Accumulated depreciation	43
Family Dollar, Newberry, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	172
Initial cost, buildings and improvements	1,562
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,734
Accumulated depreciation	59
Family Dollar, North Charleston I, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	376
Initial cost, buildings and improvements	588
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	964
Accumulated depreciation	26
Family Dollar, North Charleston II, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	458
Initial cost, buildings and improvements	593
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,051
Accumulated depreciation	28
Family Dollar, Oklahoma City, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	144
Initial cost, buildings and improvements	1,211
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,355
Accumulated depreciation	41
Family Dollar, Orlando I, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	668
Initial cost, buildings and improvements	567
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,235
Accumulated depreciation	26
Family Dollar, Orlando II, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	501
Initial cost, buildings and improvements	769
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,270
Accumulated depreciation	41
Family Dollar, Paulden, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	468
Initial cost, buildings and improvements	306
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	774
Accumulated depreciation	19
Family Dollar, Pensacola, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	123
Initial cost, buildings and improvements	541
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	664
Accumulated depreciation	23
Family Dollar, Poteet, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	141
Initial cost, buildings and improvements	169
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	310
Accumulated depreciation	11
Family Dollar, Rockford, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	183
Initial cost, buildings and improvements	1,179
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,362
Accumulated depreciation	43
Family Dollar, Roebuck, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	306
Initial cost, buildings and improvements	508
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	814
Accumulated depreciation	27
Family Dollar, San Angelo, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	96
Initial cost, buildings and improvements	342
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	438
Accumulated depreciation	15
Family Dollar, St. Louis, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	226
Initial cost, buildings and improvements	1,325
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,551
Accumulated depreciation	48
Family Dollar, Tyler, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	217
Initial cost, buildings and improvements	682
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	899
Accumulated depreciation	25
Family Dollar, Union, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	52
Initial cost, buildings and improvements	622
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	674
Accumulated depreciation	25
Family Dollar, Williamston, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	211
Initial cost, buildings and improvements	558
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	769
Accumulated depreciation	25
Family Dollar, Winter Haven I, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	486
Initial cost, buildings and improvements	437
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	923
Accumulated depreciation	24
Family Dollar, Winter Haven II, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	210
Initial cost, buildings and improvements	527
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	737
Accumulated depreciation	29
Government Services Administration, Rangeley, ME
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,377
Initial cost, buildings and improvements	5,008
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,385
Accumulated depreciation	166
Garden Ridge, Louisville, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,994
Initial cost, buildings and improvements	4,865
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,859
Accumulated depreciation	172
Garden Ridge, Lubbock, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,574
Initial cost, buildings and improvements	5,950
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,524
Accumulated depreciation	237
Garden Ridge, Mesa, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,727
Initial cost, buildings and improvements	4,867
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,594
Accumulated depreciation	189
Garden Ridge, Raleigh, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,362
Initial cost, buildings and improvements	4,267
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,629
Accumulated depreciation	168
Hewlett-Packard, Newcastle, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	13,748
Initial cost, land	1,273
Initial cost, buildings and improvements	21,193
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	22,466
Accumulated depreciation	703
Inteir Automotive, Redditch, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,995
Initial cost, land	1,314
Initial cost, buildings and improvements	10,407
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,721
Accumulated depreciation	384
Waste Management, Winston-Salem, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	494
Initial cost, buildings and improvements	3,235
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,729
Accumulated depreciation	110
FedEx, Winona, MN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	83
Initial cost, buildings and improvements	1,785
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,868
Accumulated depreciation	69
Winston Hotel, Amsterdam, Netherlands
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	7,657
Initial cost, buildings and improvements	4,049
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,706
Accumulated depreciation	127
Dollar General, Allen, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	99
Initial cost, buildings and improvements	793
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	892
Accumulated depreciation	28
Dollar General, Allentown, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	347
Initial cost, buildings and improvements	887
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,234
Accumulated depreciation	41
Dollar General, Calendonia, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	110
Initial cost, buildings and improvements	861
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	971
Accumulated depreciation	30
Dollar General, Cherokee, KS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	27
Initial cost, buildings and improvements	769
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	796
Accumulated depreciation	28
Dollar General, Choctaw, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	247
Initial cost, buildings and improvements	859
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,106
Accumulated depreciation	30
Dollar General, Clearwater, KS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	90
Initial cost, buildings and improvements	785
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	875
Accumulated depreciation	28
Dollar General, Dexter, NM
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	329
Initial cost, buildings and improvements	585
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	914
Accumulated depreciation	21
Dollar General, Elmore City, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	21
Initial cost, buildings and improvements	742
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	763
Accumulated depreciation	27
Dollar General, Erie, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	410
Initial cost, buildings and improvements	682
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,092
Accumulated depreciation	27
Dollar General, Eunice, NM
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	269
Initial cost, buildings and improvements	569
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	838
Accumulated depreciation	21
Dollar General, Gore, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	143
Initial cost, buildings and improvements	813
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	956
Accumulated depreciation	29
Dollar General, Gratiot, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	239
Initial cost, buildings and improvements	809
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,048
Accumulated depreciation	29
Dollar General, Greensburg, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	97
Initial cost, buildings and improvements	970
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,067
Accumulated depreciation	36
Dollar General, Heavener, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	99
Initial cost, buildings and improvements	998
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,097
Accumulated depreciation	35
Dollar General, Kingston, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	81
Initial cost, buildings and improvements	778
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	859
Accumulated depreciation	28
Dollar General, Lordsburg, NM
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	212
Initial cost, buildings and improvements	719
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	931
Accumulated depreciation	26
Dollar General, Lyons, KS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	120
Initial cost, buildings and improvements	970
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,090
Accumulated depreciation	34
Dollar General, Mansfield, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	169
Initial cost, buildings and improvements	812
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	981
Accumulated depreciation	$ 29

Schedule III - Part 3 (Details)

Schedule III - Part 3 (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 531,708
Initial cost, land	341,911	$ 100	$ 326,696
Initial cost, buildings and improvements	1,685,919	3,400	1,519,558
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	180
Real estate, gross	2,028,010		1,855,960	$ 149,009	$ 1,729
Accumulated depreciation	68,078	$ 25	$ 21,319	$ 869	$ 12
Dollar General, McKean, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	107
Initial cost, buildings and improvements	1,014
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,121
Accumulated depreciation	37
Dollar General, Muskogee, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	154
Initial cost, buildings and improvements	771
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	925
Accumulated depreciation	28
Dollar General, Neligh, NE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	83
Initial cost, buildings and improvements	1,045
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,128
Accumulated depreciation	36
Dollar General, New Florence, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	70
Initial cost, buildings and improvements	940
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,010
Accumulated depreciation	35
Dollar General, New Paris, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	411
Initial cost, buildings and improvements	488
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	899
Accumulated depreciation	25
Dollar General, Norman, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	40
Initial cost, buildings and improvements	913
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	953
Accumulated depreciation	32
Dollar General, Painesville I, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	340
Initial cost, buildings and improvements	797
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,137
Accumulated depreciation	28
Dollar General, Painesville II, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	300
Initial cost, buildings and improvements	715
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,015
Accumulated depreciation	26
Dollar General, Peggs, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	72
Initial cost, buildings and improvements	879
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	951
Accumulated depreciation	31
Dollar General, Santa Rosa, NM
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	324
Initial cost, buildings and improvements	575
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	899
Accumulated depreciation	21
Dollar General, Sapulpa, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	143
Initial cost, buildings and improvements	745
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	888
Accumulated depreciation	27
Dollar General, Schuyler, NE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	144
Initial cost, buildings and improvements	905
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,049
Accumulated depreciation	32
Dollar General, Spencerville, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	213
Initial cost, buildings and improvements	928
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,141
Accumulated depreciation	32
Dollar General, Tahlequah, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	132
Initial cost, buildings and improvements	925
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,057
Accumulated depreciation	33
Dollar General, Talihina, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	163
Initial cost, buildings and improvements	1,023
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,186
Accumulated depreciation	37
Dollar General, Townville, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	78
Initial cost, buildings and improvements	882
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	960
Accumulated depreciation	33
Dollar General, Uniontown, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	165
Initial cost, buildings and improvements	1,107
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,272
Accumulated depreciation	40
Dollar General, Valley Falls, KS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	51
Initial cost, buildings and improvements	922
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	973
Accumulated depreciation	32
Dollar General, Valiant, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	183
Initial cost, buildings and improvements	1,004
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,187
Accumulated depreciation	36
Dollar General, Wymore, NE
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	21
Initial cost, buildings and improvements	872
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	893
Accumulated depreciation	31
Dollar General, Wynnewood, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	188
Initial cost, buildings and improvements	1,057
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,245
Accumulated depreciation	38
FedEx, Bohemia, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	4,838
Initial cost, buildings and improvements	19,596
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,434
Accumulated depreciation	706
FedEx, Watertown, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	561
Initial cost, buildings and improvements	4,757
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,318
Accumulated depreciation	181
Shaw Aero, Naples, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	998
Initial cost, buildings and improvements	22,332
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	23,330
Accumulated depreciation	726
Mallinckrodt, St. Louis, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,499
Initial cost, buildings and improvements	16,828
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	18,327
Accumulated depreciation	553
Kuka Warehouse, Sterling Heights, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,227
Initial cost, buildings and improvements	10,790
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,017
Accumulated depreciation	354
Trinity Health, Livonia, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	8,953
Initial cost, buildings and improvements	28,464
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	37,417
Accumulated depreciation	1,065
FedEx, Hebron, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,106
Initial cost, buildings and improvements	7,750
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,856
Accumulated depreciation	269
FedEx, Lexington, KY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,118
Initial cost, buildings and improvements	7,961
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,079
Accumulated depreciation	273
GE Aviation, Cincinnati, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,393
Initial cost, buildings and improvements	10,490
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,883
Accumulated depreciation	345
Bradford & Bingley, Bingley, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,192
Initial cost, land	4,937
Initial cost, buildings and improvements	12,396
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,333
Accumulated depreciation	441
DNV GL, Dublin, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,509
Initial cost, buildings and improvements	3,140
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,649
Accumulated depreciation	108
Rexam, Reckinghausen, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,737
Initial cost, land	769
Initial cost, buildings and improvements	10,825
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,594
Accumulated depreciation	336
CJ Energy, Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,865
Initial cost, buildings and improvements	9,457
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,322
Accumulated depreciation	310
FedEx, Lake Charles, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	255
Initial cost, buildings and improvements	7,485
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,740
Accumulated depreciation	274
Family Dollar, Big Sandy, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	62
Initial cost, buildings and improvements	739
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	801
Accumulated depreciation	26
Family Dollar, Boling, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	80
Initial cost, buildings and improvements	781
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	861
Accumulated depreciation	26
Family Dollar, Bonifay, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	103
Initial cost, buildings and improvements	673
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	776
Accumulated depreciation	29
Family Dollar, Brindidge, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	89
Initial cost, buildings and improvements	749
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	838
Accumulated depreciation	33
Family Dollar, Brownsville, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	155
Initial cost, buildings and improvements	776
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	931
Accumulated depreciation	30
Family Dollar, Buena Vista, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	246
Initial cost, buildings and improvements	757
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,003
Accumulated depreciation	40
Family Dollar, Calvert, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	91
Initial cost, buildings and improvements	777
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	868
Accumulated depreciation	27
Family Dollar, Chocowinty, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	237
Initial cost, buildings and improvements	554
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	791
Accumulated depreciation	21
Family Dollar, Clarksville, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	370
Initial cost, buildings and improvements	1,025
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,395
Accumulated depreciation	42
Family Dollar, Fort Mill, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	556
Initial cost, buildings and improvements	757
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,313
Accumulated depreciation	28
Family Dollar, Hillsboro, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	287
Initial cost, buildings and improvements	634
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	921
Accumulated depreciation	23
Family Dollar, Lake Charles, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	295
Initial cost, buildings and improvements	737
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,032
Accumulated depreciation	26
Family Dollar, Lakeland, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	300
Initial cost, buildings and improvements	812
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,112
Accumulated depreciation	28
Family Dollar, Lansing, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	132
Initial cost, buildings and improvements	1,040
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,172
Accumulated depreciation	42
Family Dollar, Laurens, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	303
Initial cost, buildings and improvements	584
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	887
Accumulated depreciation	27
Family Dollar, Marion, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	183
Initial cost, buildings and improvements	747
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	930
Accumulated depreciation	27
Family Dollar, Marsing, ID
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	188
Initial cost, buildings and improvements	786
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	974
Accumulated depreciation	35
Family Dollar, Montgomery I, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	122
Initial cost, buildings and improvements	821
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	943
Accumulated depreciation	37
Family Dollar, Montgomery II, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	411
Initial cost, buildings and improvements	646
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,057
Accumulated depreciation	32
Family Dollar, Monticello, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	230
Initial cost, buildings and improvements	695
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	925
Accumulated depreciation	27
Family Dollar, Monticello, UT
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	96
Initial cost, buildings and improvements	894
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	990
Accumulated depreciation	41
Family Dollar, North Little Rock, AR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	424
Initial cost, buildings and improvements	649
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,073
Accumulated depreciation	28
Family Dollar, Oakdale, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	243
Initial cost, buildings and improvements	696
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	939
Accumulated depreciation	25
Family Dollar, Orlando, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	684
Initial cost, buildings and improvements	619
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,303
Accumulated depreciation	25
Family Dollar, Port St. Lucie, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	403
Initial cost, buildings and improvements	907
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,310
Accumulated depreciation	33
Family Dollar, Prattville, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	463
Initial cost, buildings and improvements	749
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,212
Accumulated depreciation	38
Family Dollar, Prichard, AL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	241
Initial cost, buildings and improvements	803
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,044
Accumulated depreciation	28
Garden Ridge, Quinlan, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	74
Initial cost, buildings and improvements	774
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	848
Accumulated depreciation	27
Family Dollar, Rigeland, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	447
Initial cost, buildings and improvements	891
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,338
Accumulated depreciation	30
Garden Ridge, Rising Star, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	63
Initial cost, buildings and improvements	674
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	737
Accumulated depreciation	23
Family Dollar, Southaven, MS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	409
Initial cost, buildings and improvements	1,080
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,489
Accumulated depreciation	40
Family Dollar, Spout Springs, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	474
Initial cost, buildings and improvements	676
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,150
Accumulated depreciation	25
Family Dollar, St. Petersburg, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	482
Initial cost, buildings and improvements	851
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,333
Accumulated depreciation	31
Family Dollar, Swansboro, NC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	337
Initial cost, buildings and improvements	826
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,163
Accumulated depreciation	39
Panasonic, Hudson, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,312
Initial cost, buildings and improvements	7,075
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,387
Accumulated depreciation	218
Onguard, Havre De Grace, MD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,216
Initial cost, buildings and improvements	6,585
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,801
Accumulated depreciation	289
Axon Energy Products, Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	297
Initial cost, buildings and improvements	2,432
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,729
Accumulated depreciation	74
Metro Tonic, Halle Peissen, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,903
Initial cost, land	6,628
Initial cost, buildings and improvements	46,436
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	53,064
Accumulated depreciation	1,595
Tokmanni, Matsala, Finland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	31,603
Initial cost, land	1,718
Initial cost, buildings and improvements	51,984
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	53,702
Accumulated depreciation	1,684
Fife Council, Dunfermline, UK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,715
Initial cost, land	390
Initial cost, buildings and improvements	5,029
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,419
Accumulated depreciation	158
Family Dollar, Doerun, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	236
Initial cost, buildings and improvements	717
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	953
Accumulated depreciation	26
Family Dollar, Old Hickory, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	548
Initial cost, buildings and improvements	781
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,329
Accumulated depreciation	30
Government Services Administration, Rapid City, SD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	504
Initial cost, buildings and improvements	7,837
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,341
Accumulated depreciation	247
KPN BV, Houten, Netherlands
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,538
Initial cost, buildings and improvements	18,812
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	20,350
Accumulated depreciation	557
RWE AG, Essen I, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	23,537
Initial cost, land	4,783
Initial cost, buildings and improvements	34,017
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	38,800
Accumulated depreciation	936
RWE AG, Essen II, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,508
Initial cost, land	11,712
Initial cost, buildings and improvements	41,179
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	52,891
Accumulated depreciation	1,137
RWE AG, Essen III, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	16,124
Initial cost, land	1,852
Initial cost, buildings and improvements	23,658
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	25,510
Accumulated depreciation	654
Follett School, McHenry, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,423
Initial cost, buildings and improvements	15,600
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,023
Accumulated depreciation	540
Quest Diagnostics, Inc., Santa Clarita, CA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	52,800
Initial cost, land	10,714
Initial cost, buildings and improvements	69,018
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	79,732
Accumulated depreciation	1,902
Family Dollar, Tampa, FL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	466
Initial cost, buildings and improvements	820
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,286
Accumulated depreciation	28
Diebold, North Canton, OH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	9,142
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,142
Accumulated depreciation	283
Dollar General, Chickasha, OK
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	248
Initial cost, buildings and improvements	1,293
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,541
Accumulated depreciation	36
Weatherford International, Odessa, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	665
Initial cost, buildings and improvements	1,795
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,460
Accumulated depreciation	80
AM Castle, Wichita, KS
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	426
Initial cost, buildings and improvements	6,681
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,107
Accumulated depreciation	169
FedEx, Billerica, MA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,138
Initial cost, buildings and improvements	6,674
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,812
Accumulated depreciation	208
Constellium Auto, Wayne, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,180
Initial cost, buildings and improvements	21,656
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	22,836
Accumulated depreciation	904
C&J Energy II, Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	6,196
Initial cost, buildings and improvements	21,745
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	27,941
Accumulated depreciation	472
Fedex VII, Salina, UT
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	428
Initial cost, buildings and improvements	3,334
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,762
Accumulated depreciation	101
Fedex VIII, Pierre, SD
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	3,288
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,288
Accumulated depreciation	89
Fresenius, Sumter, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	243
Initial cost, buildings and improvements	3,269
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,512
Accumulated depreciation	62
Fresenius, Hephzibah, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	234
Initial cost, buildings and improvements	2,235
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,469
Accumulated depreciation	33
Crown Group, Jonesville, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	101
Initial cost, buildings and improvements	3,136
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,237
Accumulated depreciation	37
Crown Group, Fraser, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	350
Initial cost, buildings and improvements	3,865
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,215
Accumulated depreciation	45
Crown Group, Warren, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	297
Initial cost, buildings and improvements	3,325
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,622
Accumulated depreciation	39
Crown Group, Marion, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	386
Initial cost, buildings and improvements	7,993
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,379
Accumulated depreciation	79
Crown Group, Logansport, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,843
Initial cost, buildings and improvements	5,430
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,273
Accumulated depreciation	59
Crown Group, Madison, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,598
Initial cost, buildings and improvements	7,513
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,111
Accumulated depreciation	69
Mapes & Sprowl Steel, Ltd., Elk Grove, IL
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	954
Initial cost, buildings and improvements	4,619
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,573
Accumulated depreciation	42
JIT Steel Services, Chattanooga, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	316
Initial cost, buildings and improvements	1,986
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,302
Accumulated depreciation	17
JIT Steel Services, Chattanooga, TN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	582
Initial cost, buildings and improvements	3,122
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,704
Accumulated depreciation	28
Beacon Health System, Inc., South Bend, IN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,636
Initial cost, buildings and improvements	8,190
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,826
Accumulated depreciation	58
Hannibal/Lex JV LLC, Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,090
Initial cost, buildings and improvements	11,138
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,228
Accumulated depreciation	73
FedEx Ground, Mankato, MN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	472
Initial cost, buildings and improvements	6,780
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,252
Accumulated depreciation	57
Office Depot, Venlo, NETH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,401
Initial cost, buildings and improvements	15,043
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	18,444
Accumulated depreciation	114
Finnair, Helsinki, FIN
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	30,976
Initial cost, land	2,455
Initial cost, buildings and improvements	69,941
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	72,396
Accumulated depreciation	$ 475

Schedule III - Narrative (Detai

Schedule III - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Acquired intangible assets	$ 518,300
Cost for income tax purposes	2,600,000
Accumulated amortization	$ 65,300
Useful life, buildings (years)	40 years
Useful life, land improvements (years)	15 years
Useful life, fixtures (years)	5 years
Land	$ 341,911	$ 100	$ 326,696
Buildings, fixtures and improvements	1,685,919	3,400	1,519,558
Accumulated depreciation	$ 68,078	$ 25	$ 21,319	$ 869	$ 12

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real estate investments, at cost:
Balance at beginning of year	$ 1,855,960	$ 149,009	$ 1,729
Additions-Acquisitions	226,412	1,748,944	147,245
Asset remeasurement	2,318	(675)	0
Currency translation adjustment	(56,680)	(41,318)	35
Balance at end of the year	2,028,010	1,855,960	149,009
Accumulated depreciation and amortization:
Balance at beginning of year	21,319	869	12
Depreciation expense	47,649	20,856	837
Currency translation adjustment	(890)	(406)	20
Balance at end of the year	$ 68,078	$ 21,319	$ 869