Global Net Lease (GNL) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 24, 2025	Jun. 30, 2024
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-37390
Entity Registrant Name	Global Net Lease, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-2771978
Entity Address, Address Line One	650 Fifth Ave.
Entity Address, Address Line Two	30th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	332
Local Phone Number	265-2020
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1.7
Entity Shares, Shares Outstanding		230,783,453
Documents Incorporated by Reference	Portions of the registrant’s proxy statement to be delivered to stockholders in connection with the registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K. The registrant intends to file its proxy statement within 120 days after its fiscal year end.
Entity Central Index Key	0001526113
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	GNL
Security Exchange Name	NYSE
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.25% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share
Trading Symbol	GNL PR A
Security Exchange Name	NYSE
Series B Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.875% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share
Trading Symbol	GNL PR B
Security Exchange Name	NYSE
Series D Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.50% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share
Trading Symbol	GNL PR D
Security Exchange Name	NYSE
Series E Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.375% Series E Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share
Trading Symbol	GNL PR E
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	New York, New York
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real estate investments, at cost (Note 4):
Land	$ 1,172,146	$ 1,430,607
Buildings, fixtures and improvements	5,293,468	5,842,314
Construction in progress	4,350	23,242
Acquired intangible lease assets	1,057,967	1,359,981
Total real estate investments, at cost	7,527,931	8,656,144
Less accumulated depreciation and amortization	(1,164,629)	(1,083,824)
Total real estate investments, net	6,363,302	7,572,320
Assets held for sale	17,406	3,188
Cash and cash equivalents	159,698	121,566
Restricted cash	64,510	40,833
Derivative assets, at fair value (Note 9)	2,471	10,615
Unbilled straight-line rent	99,501	84,254
Operating lease right-of-use asset (Note 11)	74,270	77,008
Prepaid expenses and other assets	108,562	121,997
Deferred tax assets	4,866	4,808
Goodwill	51,370	46,976
Deferred financing costs, net	9,808	15,412
Total Assets	6,955,764	8,098,977
LIABILITIES AND EQUITY
Mortgage notes payable, net (Note 5)	2,221,706	2,517,868
Revolving credit facility (Note 6)	1,390,292	1,744,182
Senior notes, net (Note 7)	906,101	886,045
Acquired intangible lease liabilities, net	76,800	95,810
Derivative liabilities, at fair value (Note 9)	3,719	5,145
Accounts payable and accrued expenses	75,735	99,014
Operating lease liability (Note 11)	48,333	48,369
Prepaid rent	28,734	46,213
Deferred tax liability	5,477	6,009
Dividends payable	11,909	11,173
Total Liabilities	4,768,806	5,459,828
Commitments and contingencies (Note 11)	0	0
Stockholders’ Equity (Note 10):
Common stock, $0.01 par value, 250,000,000 shares authorized, 231,051,139 and 230,885,197 shares issued and outstanding as of December 31, 2024 and 2023, respectively	3,640	3,639
Additional paid-in capital	4,359,264	4,350,112
Accumulated other comprehensive loss income	(25,844)	(14,096)
Accumulated deficit	(2,150,342)	(1,702,143)
Total Stockholders’ Equity	2,186,958	2,637,752
Non-controlling interest	0	1,397
Total Equity	2,186,958	2,639,149
Total Liabilities and Equity	6,955,764	8,098,977
Series A Preferred Stock
Stockholders’ Equity (Note 10):
Cumulative redeemable preferred stock	68	68
Series B Preferred Stock
Stockholders’ Equity (Note 10):
Cumulative redeemable preferred stock	47	47
Series D Preferred Stock
Stockholders’ Equity (Note 10):
Cumulative redeemable preferred stock	79	79
Series E Preferred Stock
Stockholders’ Equity (Note 10):
Cumulative redeemable preferred stock	$ 46	$ 46

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Preferred stock, authorized (in shares)	40,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	250,000,000	250,000,000
Common stock, issued (in shares)	231,051,139	230,885,197
Common stock, outstanding (in shares)	231,051,139	230,885,197
Series A Preferred Stock
Preferred stock, dividend rate	7.25%	7.25%
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, authorized (in shares)	9,959,650	9,959,650
Preferred stock, issued (in shares)	6,799,467	6,799,467
Preferred stock, outstanding (in shares)	6,799,467	6,799,467
Series B Preferred Stock
Preferred stock, dividend rate	6.875%	6.875%
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, authorized (in shares)	11,450,000	11,450,000
Preferred stock, issued (in shares)	4,695,887	4,695,887
Preferred stock, outstanding (in shares)	4,695,887	4,695,887
Series D Preferred Stock
Preferred stock, dividend rate	7.50%	7.50%
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, authorized (in shares)	7,933,711	7,933,711
Preferred stock, issued (in shares)	7,933,711	7,933,711
Preferred stock, outstanding (in shares)	7,933,711	7,933,711
Series E Preferred Stock
Preferred stock, dividend rate	7.375%	7.375%
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Preferred stock, authorized (in shares)	4,595,175	4,595,175
Preferred stock, issued (in shares)	4,595,175	4,595,175
Preferred stock, outstanding (in shares)	4,595,175	4,595,175

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue from tenants	$ 805,010	$ 515,070	$ 378,857
Expenses:
Property operating	142,497	67,839	32,877
Operating fees to related parties	0	28,283	40,122
Impairment charges	90,410	68,684	21,561
Merger, transaction and other costs	6,026	54,492	244
Settlement costs	0	29,727	0
General and administrative	57,734	40,187	17,737
Equity-based compensation	8,931	17,297	12,072
Depreciation and amortization	349,943	222,271	154,026
Total expenses	655,541	528,780	278,639
Operating income (loss) before gain (loss) on dispositions of real estate investments	149,469	(13,710)	100,218
Gain (loss) on dispositions of real estate investments	57,015	(1,672)	325
Operating income (loss)	206,484	(15,382)	100,543
Other income (expense):
Interest expense	(326,932)	(179,411)	(97,510)
Loss on extinguishment and modification of debt	(15,877)	(1,221)	(2,040)
Gain (loss) on derivative instruments	4,229	(3,691)	18,642
Unrealized gains on undesignated foreign currency advances and other hedge ineffectiveness	3,249	0	2,439
Other income	1,720	2,270	981
Total other expense, net	(333,611)	(182,053)	(77,488)
Net (loss) income before income tax	(127,127)	(197,435)	23,055
Income tax expense	(4,445)	(14,475)	(11,032)
Net (loss) income	(131,572)	(211,910)	12,023
Preferred stock dividends	(43,744)	(27,438)	(20,386)
Net loss attributable to common stockholders	$ (175,316)	$ (239,348)	$ (8,363)
Basic and Diluted Loss Per Common Share:
Net loss per share attributable to common stockholders — Basic (in dollars per share)	$ (0.76)	$ (1.71)	$ (0.09)
Net loss per share attributable to common stockholders — Diluted (in dollars per share)	$ (0.76)	$ (1.71)	$ (0.09)
Weighted average common shares outstanding:
Basic (in shares)	230,440,385	142,584,332	103,686,395
Diluted (in shares)	230,440,385	142,584,332	103,686,395

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (131,572)	$ (211,910)	$ 12,023
Other comprehensive (loss) income
Cumulative translation adjustment	(5,029)	7,015	(42,794)
Designated derivatives, fair value adjustments	(6,719)	(22,258)	28,395
Other comprehensive loss	(11,748)	(15,243)	(14,399)
Comprehensive loss	(143,320)	(227,153)	(2,376)
Preferred stock dividends	(43,744)	(27,438)	(20,386)
Comprehensive loss attributable to common stockholders	$ (187,064)	$ (254,591)	$ (22,762)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Series A Preferred Stock	Series B Preferred Stock	Series D Preferred Stock	Series E Preferred Stock	Common Stock	Common Stock REIT Merger and Internalization Merger	Class A Units	Total Stockholders’ Equity	Total Stockholders’ Equity Series A Preferred Stock	Total Stockholders’ Equity Series B Preferred Stock	Total Stockholders’ Equity Series D Preferred Stock	Total Stockholders’ Equity Series E Preferred Stock	Total Stockholders’ Equity Common Stock	Total Stockholders’ Equity Common Stock REIT Merger and Internalization Merger	Preferred Stock Series A Preferred Stock	Preferred Stock Series B Preferred Stock	Preferred Stock Series D Preferred Stock	Preferred Stock Series E Preferred Stock	Common Stock	Common Stock Common Stock	Common Stock Common Stock REIT Merger and Internalization Merger	Additional Paid-in Capital	Additional Paid-in Capital Series B Preferred Stock	Additional Paid-in Capital Series D Preferred Stock	Additional Paid-in Capital Series E Preferred Stock	Additional Paid-in Capital Common Stock	Additional Paid-in Capital Common Stock REIT Merger and Internalization Merger	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Series A Preferred Stock	Accumulated Deficit Series B Preferred Stock	Accumulated Deficit Series D Preferred Stock	Accumulated Deficit Series E Preferred Stock	Non-controlling interest	Non-controlling interest Common Stock	Non-controlling interest Class A Units
Beginning balance (in shares) at Dec. 31, 2021																6,799,467	4,503,893	0	0		103,900,452
Beginning balance at Dec. 31, 2021	$ 1,626,635								$ 1,620,720							$ 68	$ 45	$ 0	$ 0		$ 2,369		$ 2,675,154						$ 15,546	$ (1,072,462)					$ 5,915
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock, net (in shares)																	191,994				70,218
Issuance of stock, net			$ 4,723			$ 894					$ 4,723			$ 894			$ 2				$ 1			$ 4,721			$ 893
Dividends declared, common stock	(166,556)								(166,556)																					(166,556)
Dividends declared, preferred stock		$ (12,324)	(8,062)							$ (12,324)	(8,062)																				$ (12,324)	$ (8,062)
Equity-based compensation, net of forfeitures (in shares)																				224,662
Equity-based compensation, net of forfeitures	12,072								3,089											$ 2			3,087												8,983
Common shares repurchased/withheld upon vesting of restricted stock (in shares)																				(53,433)
Common shares repurchased/withheld upon vesting of restricted stock	(687)								(687)											$ (1)			(686)
Distributions to non-controlling interest holders	(400)								(400)																					(400)
Net (loss) income	12,023								12,023																					12,023
Cumulative translation adjustment	(42,794)								(42,794)																				(42,794)
Designated derivatives, fair value adjustments	28,395								28,395																				28,395
Ending balance (in shares) at Dec. 31, 2022																6,799,467	4,695,887	0	0		104,141,899
Ending balance at Dec. 31, 2022	1,453,919								1,439,021							$ 68	$ 47	$ 0	$ 0		$ 2,371		2,683,169						1,147	(1,247,781)					14,898
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Settlement and consulting costs paid with Common Stock (Note 10) (in shares)																					2,199,832
Settlement and consulting costs paid with Common Stock (Note 10)	21,889								21,889												$ 22		21,867
Common stock issued for earned and vested GNL LTIP Units (in shares)																					883,750
Common stock issued for earned and vested GNL LTIP Units						0								27,675							$ 9						27,666									$ (27,675)
Common Stock issuance costs						$ (138)								$ (138)													$ (138)
Issuance of stock, net (in shares)																						123,257,677
Issuance of stock, net							$ 1,369,393								$ 1,369,393							$ 1,233						$ 1,368,160
Issuance of Restricted Shares (in shares)																				221,136
Issuance of Restricted Shares	2								2											$ 2
Issuance of preferred stock (in shares)																		7,933,711	4,595,175
Issuance of preferred stock				$ 155,580	$ 90,755			$ 1,287				$ 155,580	$ 90,755					$ 79	$ 46						$ 155,501	$ 90,709											$ 1,287
Dividends declared, common stock	(207,220)								(207,220)																					(207,220)
Dividends declared, preferred stock		(12,324)	(8,072)	(7,437)	(4,236)					(12,324)	(8,072)	(7,437)	(4,236)																		(12,324)	(8,072)	$ (7,437)	$ (4,236)
Equity-based compensation, net of forfeitures (in shares)																				287,933
Equity-based compensation, net of forfeitures	17,297								4,369											$ 3			4,366												12,928
Common shares repurchased/withheld upon vesting of restricted stock (in shares)																				(107,030)
Common shares repurchased/withheld upon vesting of restricted stock	(1,189)								(1,189)											$ (1)			(1,188)
Distributions to non-controlling interest holders	(3,204)								(3,163)																					(3,163)					(41)
Net (loss) income	(211,910)								(211,910)																					(211,910)
Cumulative translation adjustment	7,015								7,015																				7,015
Designated derivatives, fair value adjustments	(22,258)								(22,258)																				(22,258)
Ending balance (in shares) at Dec. 31, 2023																6,799,467	4,695,887	7,933,711	4,595,175		230,885,197
Ending balance at Dec. 31, 2023	2,639,149								2,637,752							$ 68	$ 47	$ 79	$ 46		$ 3,639		4,350,112						(14,096)	(1,702,143)					1,397
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared, common stock	(272,883)								(272,883)																					(272,883)
Dividends declared, preferred stock		$ (12,324)	$ (8,072)	$ (14,876)	$ (8,472)					$ (12,324)	$ (8,072)	$ (14,876)	$ (8,472)																		$ (12,324)	$ (8,072)	$ (14,876)	$ (8,472)
Equity-based compensation, net of forfeitures (in shares)																				121,900
Equity-based compensation, net of forfeitures	8,932								8,932											$ 1			8,931												0
Common shares repurchased/withheld upon vesting of restricted stock (in shares)																				(71,815)
Common shares repurchased/withheld upon vesting of restricted stock	(1,039)								(1,039)											$ (1)			(1,038)
Distributions to non-controlling interest holders	(137)								0																					0					(137)
Net (loss) income	(131,572)								(131,572)																					(131,572)
Cumulative translation adjustment	(5,029)								(5,029)																				(5,029)
Designated derivatives, fair value adjustments	(6,719)								(6,719)																				(6,719)
Exchange of Class A Units for Common Stock (in shares)																				115,857
Exchange of Class A Units for Common Stock	0								1,260											$ 1			1,259												(1,260)
Ending balance (in shares) at Dec. 31, 2024																6,799,467	4,695,887	7,933,711	4,595,175		231,051,139
Ending balance at Dec. 31, 2024	$ 2,186,958								$ 2,186,958							$ 68	$ 47	$ 79	$ 46		$ 3,640		$ 4,359,264						$ (25,844)	$ (2,150,342)					$ 0

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common stock, dividends (in dollars per share)	$ 1.18	$ 1.55	$ 1.60
Series A Preferred Stock
Preferred stock, dividends (in dollars per share)	1.81	1.81	1.81
Series B Preferred Stock
Preferred stock, dividends (in dollars per share)	1.72	1.72	$ 1.72
Series D Preferred Stock
Preferred stock, dividends (in dollars per share)	1.88	0.94
Series E Preferred Stock
Preferred stock, dividends (in dollars per share)	$ 1.84	$ 0.92

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Cash flows from operating activities:
Net (loss) income	$ (131,572)	$ (211,910)	$ 12,023
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	176,209	121,313	96,188
Amortization of intangibles	173,734	100,958	57,838
Amortization of deferred financing costs	9,980	8,622	9,494
Amortization of discounts on mortgages and senior notes	68,591	18,916	939
Amortization of below-market lease liabilities	(11,634)	(5,865)	(3,531)
Amortization of above-market lease assets	17,964	10,582	3,990
Amortization related to right-of-use assets	1,173	886	844
Amortization of lease incentives	1,243	861	1,362
Unbilled straight-line rent	(19,150)	(10,396)	(9,608)
Termination fee - receipt	0	0	8,558
Equity-based compensation	8,931	17,297	12,072
Unrealized (gains) losses on foreign currency transactions, derivatives, and other	(3,418)	7,286	(9,366)
Unrealized (gains) on undesignated foreign currency advances and other hedge ineffectiveness	(3,249)	0	(2,439)
Loss on extinguishment and modification of debt	15,877	1,221	2,040
(Gain) loss on dispositions of real estate investments	(57,015)	1,672	(325)
Lease incentive and commission payments	(7,760)	(2,777)	(6,339)
Impairment charges	90,410	68,684	21,561
Settlement and consulting costs paid with common stock	0	21,889	0
Changes in operating assets and liabilities, net:
Prepaid expenses and other assets	6,207	7,604	(3,684)
Deferred tax assets	428	(2,213)	(2,214)
Accounts payable and accrued expenses	(22,184)	(9,636)	(3,047)
Prepaid rent	(15,536)	(682)	(4,300)
Deferred tax liability	241	(569)	(236)
Net cash, cash equivalents and restricted cash provided by operating activities	299,470	143,743	181,820
Cash flows from investing activities:
Investment in real estate and real estate related assets	0	(134,101)	(33,894)
Cash used in business combination, net of cash acquired	0	(451,384)	0
Deposits for real estate investments	0	0	(7,379)
Capital expenditures	(45,628)	(47,296)	(29,942)
Net proceeds from dispositions of real estate investments	803,412	80,882	54,678
Proceeds from insurance claims	2,117	0	0
Net cash, cash equivalents and restricted cash provided by (used in) investing activities	759,901	(551,899)	(16,537)
Cash flows from financing activities:
Borrowings under revolving credit facilities	486,262	1,054,945	180,170
Repayments on revolving credit facilities	(808,620)	0	0
Proceeds from mortgage notes payable	317,527	0	0
Principal payments on mortgage notes payable	(649,689)	(340,444)	(136,700)
Penalties and charges related to repayments and early repayments of debt	(15,877)	(986)	(487)
Common shares repurchased upon vesting of restricted stock	(1,038)	(1,188)	(686)
Payments of financing costs	(7,605)	(6,750)	(10,116)
Dividends paid on Common Stock	(272,435)	(206,994)	(166,837)
Distributions to non-controlling interest holders	(137)	(3,204)	(400)
Net cash, cash equivalents and restricted cash (used in) provided by financing activities	(995,356)	469,009	(149,742)
Net change in cash, cash equivalents and restricted cash	64,015	60,853	15,541
Effect of exchange rate changes on cash	(2,206)	(2,899)	(4,407)
Cash, cash equivalents and restricted cash at beginning of period	162,399	104,445	93,311
Cash, cash equivalents and restricted cash at end of period	224,208	162,399	104,445
Cash and cash equivalents, end of period	159,698	121,566	103,335
Restricted cash, end of period	64,510	40,833	1,110
Cash, cash equivalents and restricted cash, end of period	224,208	162,399	104,445
Supplemental Disclosures:
Cash paid for interest	249,055	136,510	87,362
Cash paid for income taxes	13,125	12,500	13,740
Non-Cash Activity:
Equity issued in business combination	0	1,617,015	0
Term Loan converted to Revolving Credit Facility	0	0	268,511
Loss on extinguishment and modification of debt	0	235	1,553
Accrued capital expenditures	333	0	0
Mortgage Notes Payable
Non-Cash Activity:
Assumed in business combination	0	1,740,232	0
Discount on mortgages and senior notes assumed in business combination	0	(152,777)	0
Senior Notes
Non-Cash Activity:
Assumed in business combination	0	500,000	0
Discount on mortgages and senior notes assumed in business combination	0	(113,750)	0
Common Stock
Cash flows from financing activities:
Common Stock issuance (costs) proceeds, net	0		894
Common Stock issuance (costs) proceeds, net		(138)
Series B Preferred Stock
Cash flows from financing activities:
Series B Preferred Stock issuance proceeds, net	0	0	4,723
Dividends paid on Preferred Stock	(8,072)	(8,072)	(7,979)
Series A Preferred Stock
Cash flows from financing activities:
Dividends paid on Preferred Stock	(12,324)	(12,324)	(12,324)
Series D Preferred Stock
Cash flows from financing activities:
Dividends paid on Preferred Stock	(14,876)	(3,718)	0
Series E Preferred Stock
Cash flows from financing activities:
Dividends paid on Preferred Stock	$ (8,472)	$ (2,118)	$ 0

Organization

Organization	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Global Net Lease, Inc. (the “Company”) is an internally managed real estate investment trust (“REIT) for United States (“U.S.”) federal income tax purposes that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Historically, the Company focused on acquiring and managing a globally diversified portfolio of strategically-located commercial real estate properties, which consisted primarily of mission-critical, single tenant net-lease assets. As a result of acquiring The Necessity Retail REIT, Inc. (“RTL”) in the quarter ended September 2023, the Company acquired a diversified portfolio of 989 properties consisting of primarily necessity-based retail single-tenant and multi-tenant properties located in the U.S. Until September 12, 2023, the Company was managed by Global Net Lease Advisors, LLC (“Advisor”), who managed the Company’s day-to-day business with the assistance of the Company’s property manager, Global Net Lease Properties, LLC (“Property Manager”), who managed and leased properties to third parties. Prior to September 12, 2023, the former Advisor and the Property Manager were under common control with AR Global Investments, LLC (“AR Global”), and these related parties had historically received compensation and fees for various services provided to the Company. On September 12, 2023, the Company internalized its advisory and property management functions, as well as the advisory and property management functions of RTL. For additional information on the acquisition of RTL and the internalization of the Company’s and RTL’s advisory and property management functions, see Note 3 — The Mergers and N ote 12 — Related Party Transactions. As of December 31, 2024, the Company owned 1,121 properties (all references to number of properties, square footage and industry types are unaudited) consisting of 60.7 million rentable square feet, which were 97% leased, with a weighted-average remaining lease term of 6.2 years. Based on the percentage of annualized rental income on a straight-line basis as of December 31, 2024, approximately 80% of the Company’s properties were located in the U.S. and Canada and approximately 20% were located in Europe. In addition, as of December 31, 2024, the Company’s portfolio was comprised of 34% Industrial & Distribution properties, 28% Multi-Tenant retail properties, 21% Single-Tenant Retail properties and 17% Office properties. These represent the Company’s four reportable segments and the percentages are calculated using annualized straight-line rent converted from local currency into the U.S. Dollar (“USD”) as of December 31, 2024. The straight-line rent includes amounts for tenant concessions. Substantially all of our business is conducted through Global Net Lease Operating Partnership, L.P. (the “OP”), a Delaware limited partnership, and The Necessity Retail REIT Operating Partnership, L.P., a Delaware limited partnership (“RTL OP,” and together with the OP, the “OPs”) and each of their wholly-owned subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
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 U.S. (“GAAP”). Principles of Consolidation The consolidated financial statements include the accounts of the Company, the OPs and their subsidiaries. All intercompany accounts and transactions are 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. Substantially all of the Company’s assets and liabilities are held by the OPs. 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. Revenue Recognition The Company’s revenues, which are derived primarily from lease contracts, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the non-cancelable term of the lease. As of December 31, 2024, these leases had a weighted-average remaining lease term of 6.2 years. 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 for, and include in revenue from tenants, unbilled rents receivable that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. As of December 31, 2024 and 2023, the Company’s cumulative straight-line rents receivable in the consolidated balance sheets was $99.5 million and $84.3 million, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company’s revenue from tenants included impacts of unbilled rental revenue of $19.2 million, $10.4 million and $9.6 million, respectively, to adjust contractual rent to straight-line rent. For new leases after acquisition of a property, the commencement date is considered to be the date the lease is executed and the tenant has access to the space. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation for all leases in place at the time of acquisition. In the Company’s Industrial & Distribution, Single- Tenant Retail and Office segments, in addition to base rent, the Company’s lease agreements generally require tenants to pay for their property operating expenses or reimburse the Company for property operating expenses that the Company incurs (primarily insurance costs and real estate taxes). However, some limited property operating expenses that are not the responsibility of the tenant are absorbed by the Company. In the Company’s Multi-Tenant Retail segment, the Company owns, manages and leases multi-tenant properties where the Company generally pays for the property operating expenses for those properties and most of the Company’s tenants are required to pay their pro rata share of property operating expenses. Under ASC 842, the Company has elected to report combined lease and non-lease components in a single line “Revenue from tenants.” For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis. The following table presents future minimum base rental cash payments due to the Company over the next five calendar years and thereafter as of December 31, 2024. These amounts exclude tenant reimbursements and contingent rent payments, as applicable, that may be collected from certain tenants based on increases in annual rent based on exceeding certain economic indexes among other items: (In thousands) Future Minimum Base Rent Payments (1) 2025 $ 613,629 2026 583,387 2027 525,984 2028 469,136 2029 388,650 Thereafter 1,760,390 Total $ 4,341,176 (1) Assumes exchange rates of £1.00 to $1.25 for British Pounds Sterling (“GBP”), €1.00 to $1.04 for Euro (“EUR”) and $1.00 Canadian Dollar (“CAD”) to $0.70 as of December 31, 2024 for illustrative purposes, as applicable. 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 credit worthiness and 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. Under lease accounting rules, the Company is required to assess, based on credit risk only, if it is probable that it will collect virtually all of the lease payments at the lease commencement date and it must continue to reassess collectability periodically thereafter based on new facts and circumstances affecting the credit risk of the tenant. Partial reserves, or the ability to assume partial recovery are not permitted. If the Company determines that it is probable it will collect virtually all of the lease payments (rent and contractually reimbursable property operating expenses), the lease will continue to be accounted for on an accrual basis (i.e. straight-line). However, if the Company determines it is not probable that it will collect virtually all of the lease payments, the lease will be accounted for on a cash basis and the straight-line rent receivable would be written off where it was subsequently concluded that collection was not probable. Cost recoveries from tenants are included in revenue from tenants on the accompanying consolidated statements of operations in the period the related costs are incurred, as applicable. In accordance with the lease accounting rules, the Company records uncollectible amounts as reductions in revenue from tenants. Amounts recorded as reductions of revenue during the years ended December 31, 2024, 2023 and 2022 totaled $3.4 million, $3.5 million and $0.7 million, respectively. On September 3, 2021, the Company entered into a lease termination agreement with one of its tenants which required the tenant to pay the Company a termination fee of approximately £6.7 million ($9.0 million based on the exchange rate as of the end of the lease term on January 4, 2022). This payment was received in January 2022, however it was recorded in revenue from tenants evenly over the period from September 3, 2021 through the end of the lease term, and as a result, the Company recorded approximately £0.2 million (approximately ($0.3 million) in revenue from tenants during the three months ended March 31, 2022. 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. At the time an asset is acquired, the Company evaluates the inputs, processes and outputs of the asset acquired to determine if the transaction is a business combination or an 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. See the Purchase Price Allocation section in this Note for a discussion of the initial accounting for investments in Real Estate. 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. No properties were presented as discontinued operations as of December 31, 2024 and 2023. 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, most significantly that the sale is probable within one year. The Company evaluates probability of sale based on specific facts including whether a sales agreement is in place and the buyer has made significant non-refundable deposits. Properties are no longer depreciated when they are classified as held for sale. As of December 31, 2024, the Company determined that 13 properties, all of which were acquired in the REIT Merger, qualified for held for sale treatment and as of December 31, 2023 the Company determined that two properties, both of which were acquired in the REIT Merger, qualified for held for sale treatment (see Note 4 — Real Estate Investments, Net for additional information). Purchase Price Allocation In both a business combination and an asset acquisition, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities based on their respective fair values. Tangible assets may include land, land improvements, buildings, fixtures and tenant improvements on an as if vacant basis. Intangible assets may include the value of in-place leases, and 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 (in a business combination) 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. In a business combination, the difference between the purchase price and the fair value of identifiable net assets acquired is either recorded as goodwill or as a bargain purchase gain. In an asset acquisition, the difference between the acquisition price (including capitalized transaction costs) and the fair value of identifiable net assets acquired is allocated to the non-current assets. Other than the Mergers which were accounted for as a business combination (see Note 1 — Organization and Note 3 — The Mergers ), all of the other acquisitions during the years ended December 31, 2023 and December 31, 2022 were asset acquisitions. There were no acquisitions during the year ended December 31, 2024. For acquired properties with leases classified as operating leases, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired and liabilities assumed, based on their respective fair values. 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 preacquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. 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, direct capitalization and other methods. Fair value estimates are also made using significant assumptions such as capitalization rates, discount rates, market rent, and land values per square foot. Identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates, and the value of in-place leases, 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 market rent 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. Accounting for Leases Lessor Accounting In accordance with the lease accounting standard, all of the Company’s leases as lessor prior to adoption of ASC 842 were accounted for as operating leases and the Company continued to account for them as operating leases under the transition guidance. The Company evaluates new leases originated after the adoption date (by the Company or by a predecessor lessor/owner) pursuant to the new guidance where a lease for some or all of a building is classified by a lessor as a sales-type lease if the significant risks and rewards of ownership reside with the tenant. This situation is met if, among other things, there is an automatic transfer of title during the lease, a bargain purchase option, the non-cancelable lease term is for more than major part of remaining economic useful life of the asset (e.g., equal to or greater than 75%), if the present value of the minimum lease payments represents substantially all (e.g., equal to or greater than 90%) of the leased property’s fair value at lease inception, or if the asset so specialized in nature that it provides no alternative use to the lessor (and therefore would not provide any future value to the lessor) after the lease term. Further, such new leases would be evaluated to consider whether they would be failed sale-leaseback transactions and accounted for as financing transactions by the lessor. During the three-year period ended December 31, 2024, the Company had no leases as a lessor that would be considered as sales-type leases or financings. As a lessor of real estate, the Company has elected, by class of underlying assets, to account for lease and non-lease components (such as tenant reimbursements of property operating expenses) as a single lease component as an operating lease because (a) the non-lease components have the same timing and pattern of transfer as the associated lease component; and (b) the lease component, if accounted for separately, would be classified as an operating lease. Additionally, only incremental direct leasing costs may be capitalized under the accounting guidance. Indirect leasing costs in connection with new or extended tenant leases, if any, are being expensed as incurred. As of December 31, 2024, the Company had two parcels of land leased to tenants that qualify as financing leases which were acquired in the REIT Merger. The carrying value of these leases was $6.7 million and $6.6 million as of December 31, 2024 and 2023, respectively, and the amounts are included in prepaid expenses and other assets on the Company’s consolidated balance sheet Lessee Accounting For lessees, the accounting standard requires the application of a dual lease classification approach, classifying leases as either operating or finance leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. Lease expense for operating leases is recognized on a straight-line basis over the term of the lease, while lease expense for finance leases is recognized based on an effective interest method over the term of the lease. Also, lessees must recognize a right-of-use asset (“ROU”) and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Further, certain transactions where at inception of the lease the buyer-lessor accounted for the transaction as a purchase of real estate and a new lease may now be required to have symmetrical accounting to the seller-lessee if the transaction was not a qualified sale-leaseback and accounted for as a financing transaction. For additional information and disclosures related to the Company’s operating leases, see Note 11 — Commitments and Contingencies. The Company is the lessee under certain land leases which were previously classified prior to adoption of lease accounting and will continue to be classified as operating leases under transition elections unless subsequently modified, as well as land leases and other operating leases that were acquired or entered into in connection with the Mergers. These leases are reflected on the balance sheet as right of use assets and operating lease liabilities and the rent expense is reflected on a straight-line basis over the lease term. Impairment The Company assesses each of its real estate properties for indicators of impairment quarterly or when circumstances indicate that the property may be impaired. When indicators of potential impairment are present that suggest that the carrying amounts may not be recoverable, the Company assesses the recoverability by determining whether the carrying values will be recovered through the estimated undiscounted future operating cash flows expected from the use of the assets and their eventual disposition over an estimated hold period of ten years in most cases. If the Company believes there is a significant possibility that it might dispose of the assets earlier, it assesses the recoverability using a probability weighted analysis of the estimated undiscounted future cash flows over the various possible holding periods. If the recoverability assessment indicates that the carrying value of the real estate investment is not recoverable from the estimated undiscounted future cash flows, the Company will record an impairment to the extent that the carrying value of the property exceeds its estimated fair value. Fair values are estimated based on contract prices for properties to be disposed, discounted cash flows or market comparable transactions. The estimation of future cash flows is subjective and is based on various assumptions, including but not limited to market rental rates, capitalization rates, hold periods, and discount rates. Determining the appropriate capitalization or discount rate requires significant judgment and is typically based on many factors, including the prevailing rate for the market or submarket, as well as the quality and location of the real estate property. Properties held for sale are carried at the lower of their carrying values or estimated fair values less costs to sell. The estimates of fair value typically consider contracts or the results of negotiations with prospective purchasers. These estimates are subject to revision as market conditions, and the Company’s assessment of such conditions, change. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net earnings. Gains and Losses on Dispositions of Real Estate Investments Gains on sales of rental real estate are not considered sales to customers and are generally recognized pursuant to the provisions included in ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”). 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 and building 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. 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. Deferred leasing commissions are recorded over the terms of the related leases. The amortization expense related to leasing commissions incurred from third parties are recorded in depreciation and amortization. Prior to the Mergers, amortization expense related to leasing commissions incurred from the former Advisor were recorded within operating fees to related parties in the consolidated statements of operations. As a result of the Mergers (as defined on Note 2 - The Mergers ), the Company no longer pay any leasing commissions to the former Advisor. Above and Below-Market Lease Amortization Capitalized above-market lease values are amortized as a reduction of revenue from tenants over the remaining terms of the respective leases and the capitalized below-market lease values are amortized as an increase to revenue from tenants 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. Above market intangibles and below market intangibles will also be treated in the same way as in-place intangibles upon a lease termination. If a tenant modifies its lease, the unamortized portion of the in-place lease value, customer relationship intangibles, above-market leases and below market leases are assessed to determine whether their useful lives need to be amended (generally accelerated). The amortization associated with the Company’s ROUs is recorded in property operating expenses on a straight-line basis over the terms of the leases. Cash and Cash Equivalents Cash and cash equivalents include 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 U.S. and other countries where we have deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) in the U.S., 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 U.S., United Kingdom, Luxembourg, Germany, Finland, France and The Netherlands totaling $159.7 million at December 31, 2024, of which $88.0 million, $30.1 million and $23.5 million are currently in excess of amounts insured by the FDIC, FSCS and European equivalent deposit insurance companies including DDGS, respectively. At December 31, 2023, the Company had deposits in the U.S., United Kingdom, Luxembourg, Germany, Finland and The Netherlands totaling $121.6 million, of which $47.0 million, $32.8 million and $26.6 million were in excess of the amounts 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, losses are not anticipated. Restricted Cash Restricted cash primarily consists of debt service and real estate tax reserves. The Company had restricted cash of $64.5 million and $40.8 million as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had $8.4 million of cash held as collateral for two of its properties which were sold in the fourth quarter of 2024. Goodwill The Company evaluates goodwill for impairment at least annually or upon the occurrence of a triggering event. The Company performed its annual impairment evaluation during the fourth quarter of 2024 to determine whether it was more likely than not that the fair value of each of its reporting units was less than their carrying value. For purposes of this assessment, an operating segment is a reporting unit. Based on this assessment, the Company determined that no goodwill was impaired as of December 31, 2024. The Company will continue to assess for triggering events. A triggering is an occurrence or circumstance that indicates it is more likely than not that goodwill may be impaired. In such cases, an interim impairment test is required before the next annual evaluation. Should any triggering event occur, the Company would evaluate the carrying value of its goodwill by segment through an impairment test. If impairment is warranted, the charge would be recorded through the consolidated statement of operations as a reduction to earnings. The Company assessed the potential sale of 100 of its multi-tenant retail properties (see Note 17 — Subsequent Events ) as a triggering event and determined that goodwill was not impaired as of December 31, 2024. The Company will continue to monitor the multi-tenant retail segment’s goodwill if and when the RCG Multi-Tenant Retail Disposition (as defined in Note 17 — Subsequent Events ) closes in 2025. 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. In addition, all foreign currency denominated borrowings under the Company’s Revolving Credit Facility (as defined in Note 6 - Revolving Credit Facility ) are designated as net investment hedges. 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 USD. The Company enters into derivative financial instruments in an effort 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 foreign operations. 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 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 designated and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment (or for derivatives that do not qualify as hedges), 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 a derivative is designated and qualifies for cash flow 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 (loss) income to the extent that it is effective. Any ineffective portion of a change in derivative fair value is immediately recorded in earnings. Deferred Financing Costs, Net Deferred financing costs, net are costs associated with the Revolving Credit Facility (as defined in Note 6 — Revolving Credit Facility ) and consist of 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 paid down 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. Equity-Based Compensation The Company has stock-based incentive plans under which its directors, officers, employees, consultants or entities that provide services to the Company are, or have historically been, eligible to receive awards. Awards granted thereunder are 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 in the consolidated statements of operations and is recognized over the vesting period or when the requirements for exercise of the award have been met. The Company has historically issued restricted shares of Common Stock (“Restricted Shares”), restricted stock units in respect of shares of Common Stock (“RSUs”), and performance stock units (“PSUs”). Also, although none remain outstanding as of December 31, 2024 or 2023, the Company historically had issued long-term incentive plan units of limited partner interest in the OP (“GNL LTIP Units”) (see below for more information). For additional information on all of the equity-based compensation awards issued by the Company, see Note 13 — Equity-Based Compensation . Multi-Year Outperformance Agreement With Former Advisor On June 2, 2021, the Company entered into the multi-year outperformance agreement in June 2021 with the former Advisor (the “2021 OPP”). In connection with the Internalization Merger Agreement, the parties agreed to modify the terms of the existing 2021 OPP to accelerate the timing for determining whether the award is vested and earned, which changed the end date of the performance period to September 11, 2023, the day prior to Acquisition Date (as defined below) of the Mergers. Due to this modification, all of the remaining recognized compensation expense was accelerated and recorded in the quarter ended September 30, 2023 (through September 11, 2023). For additional information on the 2021 OPP and the ultimate determination of the vesting of the award on September 11, 2023, see Note 13 — Equity-Based Compensation . Income Taxes The Company elected 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 and believes it has so qualified. 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 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 di

The Mergers

The Mergers	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
The Mergers	The Mergers On September 12, 2023, the REIT Merger (as defined below) and the Internalization Merger (as defined below) were both consummated (collectively, the “Mergers”). The REIT Merger and Internalization Merger were conditioned upon each other and accordingly are considered “related” and treated as a single transaction for accounting and reporting purposes. The REIT Merger Pursuant to the terms and conditions of the Agreement and Plan of Merger dated May 23, 2023 (the “REIT Merger Agreement”), on the Acquisition Date, RTL merged with and into Osmosis Sub I, LLC, a wholly-owned subsidiary of GNL (“REIT Merger Sub”), with REIT Merger Sub continuing as the surviving entity (the “REIT Merger”) and as a wholly-owned subsidiary of GNL, followed by Osmosis Sub II, LLC, a wholly-owned subsidiary of the OP, merging with and into the RTL OP, with RTL OP continuing as the surviving entity (the “OP Merger” and collectively with the REIT Merger, the “REIT Mergers”). On the Acquisition Date, pursuant to the REIT Merger Agreement, each issued and outstanding share of RTL’s (i) Class A Common Stock, par value $0.01 per share (the “RTL Class A Common Stock”), was converted into 0.670 shares (the “Exchange Ratio”) of GNL’s Common Stock, par value $0.01 per share (“Common Stock”), (ii) 7.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (“RTL Series A Preferred Stock”), was automatically converted into one share of newly created 7.50% Series D Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the “Series D Preferred Stock”), and (iii) 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (“RTL Series C Preferred Stock”), was automatically converted into one share of newly created 7.375% Series E Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the “Series E Preferred Stock”). Also, pursuant to the REIT Merger Agreement: • The Company issued Common Stock (adjusted for the Exchange Ratio) for certain shares of restricted RTL Class A Common Stock (“RTL Restricted Shares”) (see table below for details). • The Company issued Class A Units (adjusted for the Exchange Ratio) to the previous holder of RTL Class A Units (see table below for details). The Internalization Merger Pursuant to the terms and conditions of the Agreement and Plan of Merger dated May 23, 2023 (the “Internalization Merger Agreement”) to internalize the advisory and property management functions of the combined companies, on the Acquisition Date, (i) GNL Advisor Merger Sub LLC, a wholly-owned subsidiary of the OP merged with and into the former Advisor, with the former Advisor continuing in existence; (ii) GNL PM Merger Sub LLC, a wholly-owned subsidiary of the OP merged with and into the Property Manager, with the Property Manager continuing in existence; (iii) RTL Advisor Merger Sub LLC merged with and into Necessity Retail Advisors, LLC (“RTL Advisor”), with RTL Advisor continuing in existence; and (iv) RTL PM Merger Sub LLC, a wholly-owned subsidiary of the OP merged with and into Necessity Retail Properties, LLC (“RTL Property Manager”), with RTL Property Manager continuing in existence (collectively, the Internalization Merger). As a result of the consummation of the Internalization Merger, the advisory agreements were terminated for both the Company and RTL and the Company assumed both of the Company’s and RTL’s property management agreements and the Company was no longer externally managed. The Company internalized these functions with its own dedicated workforce (see Note 12 — Related Party Transactions and Arrangements for additional information on the Internalization Merger). As consideration for the Internalization Merger, the Company issued 29,614,825 shares of its Common Stock valued in the aggregate at $325.0 million to AR Global and paid cash in an amount equal to $50.0 million to AR Global. The number of shares issued in respect of the Internalization Merger was valued based on the Company’s 5-day volume-weighted average price as of market close on May 11, 2023 of $10.97 per share of Common Stock. The Company registered these shares for resale under the Securities Act, pursuant to the terms and conditions (including limitations) thereof. Transaction Fees BMO Capital Markets Corp. (“BMO”), the financial advisor to the special committee of the board of directors of the Company (the “Board”) comprised solely of independent directors that was formed by the Board (the “Special Committee”), was paid a fee of $30.0 million, $3.0 million of which was paid in the quarter ended June 30, 2023 upon delivery of BMO’s opinion regarding the REIT Merger and the remaining $27.0 million was paid upon consummation of the Mergers in the quarter ended September 30, 2023. In addition, the Company paid BMO a fee of $1.0 million in the quarter ended June 30, 2023, which was paid upon delivery of BMO’s opinion regarding the Internalization Merger. The Company reimbursed BMO for its transaction-related expenses, which totaled approximately $0.3 million, and agreed to indemnify BMO and certain related parties against certain potential liabilities arising out of or in connection with its engagement. Fair Value of Consideration Transferred The following table presents the fair value of the consideration transferred to affect the acquisition: Fair Value Calculation Shares or Units Price Used to Calculate Fair Value Fair Value of Consideration Transferred (In thousands) Consideration Type Fair value of Common Stock issued to holders of RTL Class A Common Stock (1) 93,432,946 $ 11.11 (2) $ 1,038,040 Common Stock Fair value of Common Stock issued upon vesting of certain RTL Restricted Shares 209,906 $ 11.11 (2) 2,332 Common Stock Fair value of Common Stock issued to AR Global for the Internalization Merger 29,614,825 (3) $ 11.11 (2) 329,021 Common Stock Fair value of Class A Units issued by the OP to holder of RTL Class A Units 115,857 $ 11.11 (2) 1,287 Class A Units Fair value of GNL Series D Preferred Stock issued to holders of RTL Series A Preferred Stock (6) 7,933,711 (4) $ 19.61 (4) 155,580 Series D Preferred Stock Fair value of GNL Series E Preferred Stock to be issued to holders of RTL Series C Preferred Stock (6) 4,595,175 (5) $ 19.75 (5) 90,755 Series E Preferred Stock Total equity consideration 1,617,015 Cash consideration paid to AR Global 50,000 Cash Cash used to repay RTL’s credit facility at closing of the REIT Merger 466,000 Cash Total consideration transferred $ 2,133,015 ___________ (1) Includes RTL LTIP Units earned and converted to RTL Class A Common Stock and certain vested shares of RTL Restricted Shares, both of which occurred prior to the Acquisition Date (see Note 13 — Equity-Based Compensation). (2) Represents the closing price of GNL’s Common Stock on the Acquisition Date. (3) The considered value of Common Stock to be issued to AR Global was $325.0 million for the Internalization Merger, and the number of shares issued was valued based on the Company’s 5-day volume-weighted average price as of market close on May 11, 2023. The price used to calculate fair value represents the closing price of GNL’s Common Stock on the Acquisition Date. (3) Each share of the RTL Series A Preferred Stock was exchanged for one new share of Series D Preferred Stock respectively. The price used to calculate fair value represents the closing price of the RTL Series A Preferred Stock on the Acquisition Date. (5) Each share of the RTL Series C Preferred Stock was exchanged for one new share of Series E Preferred Stock respectively. The price used to calculate fair value represents the closing price of the RTL Series C Preferred Stock on the Acquisition Date. Purchase Price Allocation The Mergers were all conditioned upon each other and accordingly are considered “related” and treated as a single transaction for accounting and reporting purposes. The Mergers were accounted for under the acquisition method for business combinations pursuant to GAAP, with the Company as the accounting acquirer of RTL. The consideration transferred by the Company in the Mergers established a new accounting basis for the assets acquired, liabilities assumed and any non-controlling interests, measured at their respective fair value as of the Acquisition Date. To the extent fair value of the consideration paid exceeded the fair value of net assets acquired, any such excess represented goodwill. The Company provided a provisional allocation of the fair value of the assets acquired and liabilities assumed in the Mergers in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. During the three months ended September 30, 2024, June 30, 2024, March 31. 2024 and December 31, 2023 (the “Measurement Period”), adjustments were determined and recorded as if they had been completed at the Acquisition Date. The following table summarizes the amounts recognized for the assets acquired and liabilities assumed as of Acquisition Date, as well as adjustments made during the Measurement Period, to the amounts previously reported in the three months ended September 30, 2023. (in thousands) Amounts Recognized as of the Acquisition Date (as previously reported) Measurement Period Adjustments Amounts Recognized as of the Acquisition Date (as adjusted) Assets Acquired: Land $ 954,967 $ 615 $ 955,582 Buildings, fixtures and improvements 2,526,810 349 2,527,159 Total tangible assets 3,481,777 964 (1) 3,482,741 Acquired intangible assets: In-place leases 582,475 (1,045) 581,430 Above-market lease assets 67,718 50 67,768 Total acquired intangible lease assets 650,193 (995) (1) 649,198 Cash 65,223 (607) (2) 64,616 Operating lease right-of-use assets 26,407 10 26,417 Prepaid expenses and other assets 60,862 (1,702) (3) 59,160 Goodwill 29,817 640 (4) 30,457 Total assets acquired 4,314,279 (1,690) 4,312,589 Liabilities Assumed: Mortgage notes payable, net 1,587,455 — 1,587,455 Senior notes, net 386,250 — 386,250 Acquired intangible lease liabilities 76,682 3 76,685 Accounts payable and accrued expenses 86,031 (1,663) (5) 84,368 Operating lease liabilities 26,407 (30) 26,377 Prepaid rent 18,439 — 18,439 Total liabilities assumed 2,181,264 (1,690) 2,179,574 Total consideration transferred $ 2,133,015 $ — $ 2,133,015 ________ (1) These adjustments were recorded to reflect changes in the estimated fair value of tangible and intangible assets, from the initial provisional estimates, due to the receipt of new information. (2) The decrease in cash was due to the receipt of new information, subsequent to the initial provisional estimates, related to cash acquired as of the Acquisition Date. (3) The net decrease in prepaid expenses and other assets was due to the receipt of new information, subsequent to the initial provisional estimates, primarily related to receivables that were estimated as of the Acquisition Date. (4) The net increase in goodwill from the initial provisional valuation reflects the net impact of all measurement period adjustments to the assets acquired and liabilities assumed. (5) The net decrease in accounts payable and accrued expenses was due to the receipt of new information, subsequent to the initial provisional estimates, related to accrued expenses that were estimated as of the Acquisition Date. Goodwill Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the Mergers includes the expected synergies and other benefits that we believe will result from the Internalization Merger and any intangible assets that do not qualify for separate recognition. Goodwill is not amortized and the Company has allocated the goodwill to its segments (see Note 15 — Segment Reporting for additional details). Impact of Acquisition The following table presents information for RTL that is included in the Company’s consolidated statements of income from the Acquisition Date through the year ended December 31, 2023: (In thousands) RTL’s Operations Included in GNL’s Results Revenue from tenants $ 132,506 Net loss $ (22,735) Pro Forma Information (Unaudited) The following table presents unaudited supplemental pro forma information as if the Mergers had occurred on January 1, 2022 for the years ended December 31, 2023 and 2022. The unaudited supplemental pro forma financial information is not necessarily indicative of what the actual results of operations of the Company would have been assuming the Mergers had taken place on January 1, 2022, nor is it indicative of the results of operations for future periods. (In thousands) Year Ended December 31, 2023 2022 Pro Forma Revenue from tenants $ 815,803 $ 819,991 Pro Forma Net loss $ (347,046) $ (89,796)

Real Estate Investments, Net

Real Estate Investments, Net	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
Real Estate Investments, Net	Real Estate Investments, Net Property Acquisitions The following table presents the allocation of the assets acquired and liabilities assumed during the years ended December 31, 2023 and 2022, in the case of assets located outside of the United States, based on the applicable exchange rate at the time of purchase. With the exception of the Mergers, which was treated as a business combination (see Note 3 — The Mergers) , all acquisitions in these periods were considered asset acquisitions for accounting purposes. There were no acquisitions during the year ended December 31, 2024. Year Ended December 31, (Dollar amounts in thousands) 2023 2022 Business Combination Asset Acquisitions Total Total (All Asset Acquisitions) Real estate investments, at cost: Land $ 955,582 $ 9,541 $ 965,123 $ 4,176 Buildings, fixtures and improvements 2,527,159 73,150 2,600,309 25,938 Total tangible assets 3,482,741 82,691 3,565,432 30,114 Acquired intangible lease assets: In-place leases 581,430 9,231 590,661 4,010 Above-market lease assets 67,768 40,964 108,732 — Below-market lease liabilities — — — (230) Total intangible assets and liabilities 649,198 50,195 699,393 3,780 Cash 64,616 — 64,616 — Right-of-use asset 26,417 1,426 27,843 — Prepaid expenses and other assets 59,160 — 59,160 — Goodwill 30,457 — 30,457 — Total assets acquired 4,312,589 134,312 4,446,901 33,894 Liabilities Assumed: Mortgage note payable 1,587,455 — 1,587,455 — Senior notes, net 386,250 — 386,250 — Acquired intangible lease liabilities 76,685 211 76,896 — Accounts payable and accrued expenses 84,368 — 84,368 — Operating lease liabilities 26,377 — 26,377 — Prepaid rent 18,439 — 18,439 — Total liabilities assumed 2,179,574 211 2,179,785 — Equity issued in acquisitions 1,617,015 — 1,617,015 — Cash paid for acquired real estate investments $ 516,000 $ 134,101 $ 650,101 $ 33,894 Number of properties purchased 989 9 998 3 The following table summarizes the acquisition by property type, listed by reportable segment, during the years ended December 31, 2023 and 2022: Property Type Number of Properties Square Feet (unaudited) Properties Acquired in 2023: Industrial & Distribution 31 4,085,826 Multi-Tenant Retail 109 16,375,661 Single-Tenant Retail 851 7,140,274 Office 7 305,912 998 27,907,673 Properties Acquired in 2022: Industrial & Distribution 2 232,600 Multi-Tenant Retail — — Single-Tenant Retail — — Office 1 66,626 3 299,226 Acquired Intangible Lease Assets The Company allocates a portion of the fair value of real estate acquired to identified intangible assets and liabilities, consisting of the value of origination costs (tenant improvements, leasing commissions, and legal and marketing costs), the value of above-market and below-market leases, and the value of tenant relationships, if applicable, based in each case on their relative fair values. The Company periodically assesses whether there are any indicators that the value of the intangible assets may be impaired by performing a net present value analysis of future cash flows, discounted for the inherent risk associated with each investment. During the years ended December 31, 2024, 2023 and 2022, the Company wrote off certain intangibles related to properties that were evaluated for impairments. For additional information on the write off of intangibles, see the “Intangible Lease Assets and Lease Liabilities” section below. Impairment Charges Year Ended December 31, 2024 The Company recorded aggregate impairment charges of $90.4 million during the year ended December 31, 2024, comprised of the following: • During the three months ended December 31, 2024, the Company determined that 23 of its properties (21 in the U.S. and two in the U.K.), had an estimated fair value that was lower than the carrying value of the properties. The estimated fair values for 21 of the properties were based on the estimated selling price of such properties and the remainder were based on market comparable transactions. As a result, the Company recorded impairment charges including of intangible assets of approximately $20.1 million. Of the 23 properties impaired during the three months ended December 31, 2024, 20 were acquired in the REIT Merger. • During the three months ended September 30, 2024, the Company determined that 21 of its properties located in the U.S. (19 of which were acquired in the REIT Merger) had an estimated fair value that was lower than the carrying value of the properties, based on the estimated selling price of such properties, and as a result, the Company recorded an impairment charge of approximately $38.6 million. • During the three months ended June 30, 2024, the Company determined that six of its properties located in the U.S. (three of which were acquired in the REIT Merger) had an estimated fair value that was lower than the carrying value of the properties, based on the estimated selling price of such properties, and as a result, the Company recorded an impairment charge of approximately $27.4 million. The majority of the impairment charge was due to legacy GNL properties. • During the three months ended March 31, 2024, the Company determined that six of its properties located in the U.S. (all of which were acquired in the REIT Merger) had an estimated fair value that was lower than the carrying value of the properties, based on the estimated selling price of such properties, and as a result, the Company recorded an impairment charge of approximately $4.3 million. Year Ended December 31, 2023 During the year ended December 31, 2023, the Company recorded aggregate impairment charges of $68.7 million, comprised of the following: • During the three months ended December 31, 2023, the Company determined that one of its properties located in Scotland (which was owned prior to the REIT Merger) had an estimated fair value that was lower than its carrying value based on the estimated selling price of the property, and as a result, the Company recorded an impairment charge of approximately $1.8 million. Also during three months ended December 31, 2023, the Company determined that two of its properties located in the U.S. (which were acquired in the REIT Merger) had an estimated fair value that was lower than its carrying value based on the estimated selling prices of the properties, and as a result, the Company recorded an impairment charge of approximately $1.2 million. • During the three months ended September 30, 2023, the Company determined that the fair values of four of its properties (one in the U.K. and three in the U.S.) were lower than their carrying values. These four properties were all owned by the Company prior to the REIT Merger. The Company recorded aggregate impairment charges for these properties, including the impairments to intangible assets noted below, of $65.7 million in the three months ended September 30, 2023, which is recorded in impairment charges in the consolidated statement of operations for the year ended December 31, 2023. The impairment charge in the third quarter of 2023 for the property in the U.K. was based on a calculation of the estimated fair value of the property. The impairment charges for the properties in the U.S. were based on the estimated selling prices of the properties. Year Ended December 31, 2022 During the year ended December 31, 2022, the Company recorded aggregate impairment charges of $21.6 million for three properties, which are recorded in the Company’s consolidated statement of operations for the year ended December 31, 2022. For one of these properties, which was held for sale in the first quarter, the Company incurred an additional impairment for costs to sell the asset. The other two properties that were impaired during 2022 were both being marketed for sale. The impairment for the first property being marketed for sale occurred in the second quarter of 2022 and totaled $16.0 million. The impairment was based on a purchase and sale contract; however, the property did not meet the criteria for held for sale at that time. In the third quarter, this property met the criteria for held for sale and an additional impairment of $0.8 million was taken for costs to sell the asset. This property was sold in November 2022. The impairment charge for the second property being marketed for sale was recorded in the fourth quarter of 2022 and totaled $4.5 million, based on the agreed upon selling price of the asset. Dispositions During the year ended December 31, 2024, the Company sold 178 properties, 164 of which were acquired in the REIT Merger. As a result, the Company recorded a net gain of $57.0 million during the year ended December 31, 2024. During the year ended December 31, 2023, the Company sold eleven properties, ten of which were acquired in the REIT Merger, and recorded a net loss of $1.7 million during the year ended December 31, 2023. During the year ended December 31, 2022, the Company sold one property in the U.S., one property in the United Kingdom (“U.K.”) and one property in France for an aggregate contract sales price of approximately $56.0 million for all three properties sold. As a result, the Company recorded an aggregate gain of $0.3 million during the year ended December 31, 2022. The following table summarizes the aforementioned properties sold in 2024, 2023 and 2022: Portfolio Country/State Disposition Date Number of Properties Square Feet (unaudited) Properties Sold in 2024: O’Charley’s AL, IN, TN, MS, NC, GA, KY, OH, TN, IL, LA February & March (5 properties); April & May & June (7 properties); July, August & September (3 properties); October & November (3 properties) 18 120,599 Truist Bank FL, GA, TN, NC, SC, VA, OH, FL February & March (11 properties); April & May (11 properties ); September (1 property) 23 96,538 Fife Council United Kingdom February 1 37,331 TOMs King IL, OH & PA February, August, October & November 6 24,211 FedEx MN March 1 11,501 Amazon KY May 1 79,105 American Car Center AL, GA, KY, SC, TN, AR May, June, August & November 7 64,962 AmeriCold GA, IL, MN, SC June 9 1,407,166 CVS MI June 1 10,880 Decatur Commons AL May 1 125,635 Diebold OH June 1 158,330 Klaussner NC, VA May & September 2 1,244,737 Shippensburg Marketplace PA April 1 59,866 Springfield Commons OH June 1 164,843 Family Dollar CO & AR & LA July & October & November 4 32,988 Shops at Abilene TX July 1 175,642 HEB Center TX July 1 130,127 East West Commons GA August 1 173,205 Johnson Controls Spain August 1 29,095 Imperial AL August 1 10,022 Foster Wheeler United Kingdom August 1 365,832 The Plant OH August 1 367,926 Joe's Crab Shack NC September 1 7,903 Trinity/Valasis MI September 2 276,621 Plasma NV, PA & TX September & December 3 36,607 Epredia MI September 1 114,700 Pizza Hut GA, NC, NY, MT, OH, VA, IL, KY, UT, TX, OK, WY, CO October, November & December 36 108,042 Taco Johns MN & ID October 2 3,814 Hardees AL October 1 3,812 Burger King OH October & November 2 6,323 Sterling Slidel LA November & December 2 333,769 Checkers GA November 1 1,065 Freesenius AL, FL, GA, IL, IN, KY, ME, MI, MO, MS, MT, NC, NH, NJ, OH, PA, SC & VA December 35 293,763 Poplar Springs SC December 1 64,078 Mister Car Wash GA December 5 20,310 GE Aviation OH December 1 102,000 Home Depot CA December 1 141,021 178 6,404,369 Portfolio Country/State Disposition Date Number of Properties Square Feet (unaudited) Properties Sold in 2023: American Car Center Florida September 13, 2023 1 47,927 American Car Center Mississippi September 21, 2023 1 29,919 TOMs King Ohio October 13, 2023 1 4,798 American Car Center Georgia October 19, 2023 1 6,425 TOMs King Ohio November 1, 2023 1 4,014 American Car Center Mississippi November 3, 2023 1 4,889 Truist Bank North Carolina November 13, 2023 1 4,156 American Car Center Alabama December 1, 2023 1 3,096 Family Dollar Kentucky December 6, 2023 1 8,050 O'Charley's South Carolina December 6, 2023 1 6,873 Quest Diagnostics California December 22, 2023 1 223,894 11 344,041 Properties Sold in 2022: Bradford & Bingley UK May 6, 2022 1 120,618 Axon Texas July 25, 2022 1 26,400 Sagemcom France November 30, 2022 1 265,309 3 412,327 Assets Held for Sale When assets are identified by management as held for sale, the Company stops recognizing depreciation and amortization expense on the identified assets and estimates the sales price, net of costs to sell, of those assets. If the carrying amount of the assets classified as held for sale exceeds the estimated net sales price, the Company records an impairment charge equal to the amount by which the carrying amount of the assets exceeds the Company’s estimate of the net sales price of the assets. As of December 31, 2024 and 2023, the Company evaluated its assets for held for sale classification. As of December 31, 2024, the Company determined that 13 properties, all of which were acquired in the REIT Merger, qualified for held for sale treatment. As of December 31, 2023, the Company determined that two properties, both of which were acquired in the REIT Merger, qualified for held for sale treatment. Because these assets are considered held for sale, the operating results remain classified within continuing operations for all periods presented. The following table details the major classes of the assets associated with the properties that the Company determined to be classified as held for sale as of December 31, 2024 and 2023: December 31, (In thousands) 2024 2023 Real estate investments held for sale, at cost: Land $ 4,574 $ 860 Buildings, fixtures and improvements 11,658 2,349 Acquired intangible lease assets 1,627 — Total real estate assets held for sale, at cost 17,859 3,209 Less accumulated depreciation and amortization (453) (21) Total real estate investments held for sale, net $ 17,406 0 $ 3,188 Intangible Lease Assets and Lease Liabilities The Company recorded $2.5 million of impairment charges on its acquired intangible assets during the year ended December 31, 2024. The Company recorded impairment charges of approximately $1.5 million on its in-place lease intangible assets and $1.0 million on its above-market lease intangible assets during the year ended December 31, 2024, and approximately $1.0 million on its in-place lease intangible assets and $0.8 million on its above-market lease intangible assets during the year ended December 31, 2023. These impairments were recorded in connection with the four properties that were impaired in the quarter ended September 30, 2023 (as described above). The Company recorded impairment charges of $0.5 million to its in-place intangible assets and $0.2 million to its below-market lease intangible liabilities, both associated with a real estate investment that it sold during the year ended December 31, 2022. Acquired intangible lease assets and lease liabilities consist of the following: December 31, 2024 December 31, 2023 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying amount Gross Carrying Amount Accumulated Amortization Net Carrying amount Intangible assets: In-place leases $ 940,139 $ 399,271 $ 540,868 $ 1,215,443 $ 436,249 $ 779,194 Above-market leases 117,828 33,504 84,324 144,538 32,724 111,814 Total acquired intangible lease assets $ 1,057,967 $ 432,775 $ 625,192 $ 1,359,981 $ 468,973 $ 891,008 Intangible liabilities: Below-market leases $ 107,903 $ 31,103 $ 76,800 $ 120,022 $ 24,212 $ 95,810 Total acquired intangible lease liabilities $ 107,903 $ 31,103 $ 76,800 $ 120,022 $ 24,212 $ 95,810 Projected Amortization for Intangible Lease Assets and Liabilities The following table provides the weighted-average amortization periods as of December 31, 2024 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 2025 2026 2027 2028 2029 In-place leases 6.3 $ 122,447 $ 95,432 $ 74,088 $ 56,838 $ 39,557 Total to be included as an increase to depreciation and amortization $ 122,447 $ 95,432 $ 74,088 $ 56,838 $ 39,557 Above-market lease assets 7.4 $ 14,108 $ 12,255 $ 11,150 $ 9,333 $ 7,581 Below-market lease liabilities 12.6 (9,133) (7,750) (6,862) (6,168) (5,360) Total to be included as an increase (decrease) to revenue from tenants $ 4,975 $ 4,505 $ 4,288 $ 3,165 $ 2,221 Significant Tenants There were no tenants whose annualized rental income on a straight-line basis as of December 31, 2024 represented 10.0% or greater of consolidated annualized rental income on a straight-line basis for all properties as of December 31, 2024. The termination, delinquency or non-renewal of leases by any major tenant may have a material adverse effect on revenues. Geographic Concentrations The following table lists the countries and states where the Company has concentrations of properties where annualized rental income on a straight-line basis as of December 31, 2024, represented greater than 10% of consolidated annualized rental income on a straight-line basis as of December 31, 2024, 2023 and 2022. December 31, Country / U.S. State 2024 2023 2022 United States 80.1% 79.7% 63.9% Michigan 9.2% 8.4% 15.5% United Kingdom 10.4% 11.1% 17.4%

Mortgage Notes Payable, Net

Mortgage Notes Payable, Net	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Mortgage Notes Payable, Net	Mortgage Notes Payable, Net In connection with the REIT Merger, the Company assumed all of RTL’s mortgage notes payable as of the Acquisition Date. Mortgage notes payable, net as of December 31, 2024 and 2023 consisted of the following: Encumbered Properties Outstanding Loan Amount (1) Effective Interest Rate Interest Rate Country Portfolio December 31, 2024 December 31, 2023 Maturity Anticipated Repayment (2) (In thousands) (In thousands) Finland: Finland Properties 5 $ 76,866 $ — 5.0% (3) Fixed/Variable Jan. 2029 Jan. 2029 Finland Properties — — 81,695 —% (3) Fixed/Variable Feb. 2024 Feb. 2024 Luxembourg/ The Netherlands: Benelux Properties — — 129,752 —% (4) Fixed Jun. 2024 Jun. 2024 Total EUR denominated 5 76,866 211,447 United Kingdom: McLaren — — 128,587 —% (5) Fixed Apr. 2024 Apr. 2024 Total GBP denominated — — 128,587 United States: Penske Logistics 1 70,000 70,000 4.7% (6) Fixed Nov. 2028 Nov. 2028 Multi-Tenant Mortgage Loan I 10 162,580 162,580 4.4% (6) Fixed Nov. 2027 Nov. 2027 Multi-Tenant Mortgage Loan II 8 32,750 32,750 4.4% (6) Fixed Feb. 2028 Feb. 2028 Multi-Tenant Mortgage Loan III 7 98,500 98,500 4.9% (6) Fixed Dec. 2028 Dec. 2028 Multi-Tenant Mortgage Loan IV 15 90,111 97,500 4.6% (6) Fixed May 2029 May 2029 Multi-Tenant Mortgage Loan V 11 139,771 139,771 3.7% (6) Fixed Oct. 2029 Oct. 2029 2019 Class A-1 Net-Lease Mortgage Notes 70 105,859 110,815 3.8% Fixed May 2049 May 2026 2019 Class A-2 Net-Lease Mortgage Notes 75 118,798 119,409 4.5% Fixed May 2049 May 2029 2021 Class A-1 Net-Lease Mortgage Notes 49 49,362 50,971 2.2% Fixed May 2051 May 2028 2021 Class A-2 Net-Lease Mortgage Notes 49 85,262 88,041 2.8% Fixed May 2051 May 2031 2021 Class A-3 Net-Lease Mortgage Notes 38 34,997 34,997 3.1% Fixed May 2051 May 2028 2021 Class A-4 Net-Lease Mortgage Notes 38 54,995 54,995 3.7% Fixed May 2051 May 2031 Column Financial Mortgage Notes 290 463,370 697,595 3.8% (7) Fixed Aug. 2025 Aug. 2025 Mortgage Loan II 12 210,000 210,000 4.2% Fixed Jan. 2028 Jan. 2028 Mortgage Loan III 22 33,400 33,400 4.1% Fixed Jan. 2028 Jan. 2028 RTL Multi-Tenant Mortgage II — — 25,000 —% Fixed Feb. 2024 Feb. 2024 McGowin Park — — 39,025 —% Fixed May 2024 May 2024 CMBS Loan 29 260,000 260,000 6.5% Fixed Sept. 2033 Sept. 2033 CMBS Loan II 20 237,000 — 5.8% Fixed Apr. 2029 Apr. 2029 Total USD denominated 744 2,246,755 2,325,349 Gross mortgage notes payable 749 2,323,621 2,665,383 4.5% Mortgage discount (90,444) (140,403) — Deferred financing costs, net of accumulated amortization (8) (11,471) (7,112) — Mortgage notes payable, net 749 $ 2,221,706 $ 2,517,868 4.5% __________ (1) Amounts borrowed in local currency are translated at the spot rate in effect at the applicable reporting date. (2) The Company determines an anticipated repayment date when the terms of a debt obligation provide for earlier repayment than the legal maturity and when the Company expects to repay such debt obligations earlier due to factors such as elevated interest rates or additional principal payment requirements. (3) 80% fixed as a result of a “pay-fixed” interest rate swap agreement and 20% variable. Variable portion is approximately 1.4% plus 3-month Euribor and reflects the Euribor rate in effect as of December 31, 2024. This loan was extended from its original maturity date of February 2024 to February 2029. (4) This mortgage was repaid in the quarter ended June 2024 using borrowings under the EUR portion of the Company’s Revolving Credit Facility (as defined in Note 6 — Revolving Credit Facility ). (5) This mortgage was repaid in April 2024 using borrowings under the GBP portion of the Company’s Revolving Credit Facility(as defined in Note 6 — Revolving Credit Facility ). (6) The borrower’s (wholly-owned subsidiaries of the Company) financial statements are included within the Company’s consolidated financial statements, however, the borrowers’ assets and credit are only available to pay the debts of the borrowers and their liabilities constitute obligations of the borrowers. (7) Decrease primarily due to the repayment of mortgages for certain encumbered properties that were sold during 2024. (8) Deferred financing costs consist of 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 paid down 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. 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, 2024: (In thousands) Future Principal Payments (1) 2025 $ 464,526 2026 105,925 2027 163,191 2028 529,620 2029 660,102 Thereafter 400,257 Total $ 2,323,621 ______ (1) Assumes exchange rates of £1.00 to $1.25 for GBP and €1.00 to $1.04 for EUR as of December 31, 2024 for illustrative purposes, as applicable. The total gross carrying value of the Company’s unencumbered assets as of December 31, 2024 was $4.84 billion, and approximately $4.54 billion of this amount was included in the unencumbered asset pool comprising the borrowing base under the Revolving Credit Facility (as defined in Note 6 — Revolving Credit Facility ) and therefore is not available to serve as collateral for future borrowings. CMBS Loan II On April 5, 2024, the Company entered into a CMBS Loan (“CMBS Loan II”) with (i) Bank of Montreal, (ii) Société Générale Financial Corporation, (iii) Barclays Capital Real Estate Inc. and (iv) KeyBank National Association (each individually, a “Lender,” and collectively, the “Lenders”), in the aggregate amount of $237.0 million. The net proceeds were used to repay draws on the USD portion of the Revolving Credit Facility. The CMBS Loan II is secured by, among other things, first priority mortgages on 20 industrial properties the Company owns across the United States. The CMBS Loan II has a 5-year term, is interest-only (payable monthly) at a fixed rate of 5.74% per year and matures on April 6, 2029. The CMBS Loan II contains certain covenants, including, certain obligations to reserve funds and requires the OP to maintain a net worth of $150.0 million and liquid assets having a market value of at least $10.0 million. Mortgage Covenants As of December 31, 2024, the Company was in compliance with all property-level debt covenants with the exception of four property-level debt instruments. For those four property-level debt instruments, the Company either (a) implemented a cure to the underlying noncompliance trigger by providing a letter of credit, or (b) permitted excess net cash flow after debt service from the impacted properties to become restricted, in each case in accordance with the terms of the applicable debt instrument. Each letter of credit, for so long as it is outstanding, represents a dollar-for-dollar reduction to availability for future borrowings under the Company’s Revolving Credit Facility. While the restricted cash cannot not be used for general corporate purposes, it is available to fund operations of the underlying assets. These matters did not have a material impact on the Company’s liquidity or its ability to operate the impacted assets and do not constitute events of default under the applicable debt instruments.

Revolving Credit Facility

Revolving Credit Facility	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility The table below details the outstanding balances as of December 31, 2024 and 2023 under the credit agreement with KeyBank National Association, as agent, and the other lender parties thereto which was originally entered into on July 24, 2017 and has been amended from time to time (the “Credit Agreement”). The Credit Agreement consists solely of the senior unsecured multi-currency revolving credit facility (the “Revolving Credit Facility”). In connection with the Mergers, the Company amended the Credit Agreement on September 12, 2023 in order to, among other things, repay the outstanding indebtedness and obligations under RTL’s credit facility. The Company exercised the existing “accordion feature” on the Revolving Credit Facility and increased the aggregate total commitments under the Revolving Credit Facility by $500.0 million from $1.45 billion to $1.95 billion to repay and terminate RTL’s credit facility and to create additional availability after the closing of the REIT Merger. The sublimits for letters of credit and swing loans were also each increased from $50.0 million to $75.0 million. The amendment to the Credit Agreement also included modifications to the change of control events to reflect the changes to the board composition and management of the Company following the REIT Merger and other modifications to account for multi-tenant properties for the credit support of additional eligible unencumbered properties that are owned by the subsidiaries of RTL OP that serve as guarantors under the Credit Agreement. December 31, 2024 December 31, 2023 (In thousands) TOTAL USD (1) USD (3) GBP (4) EUR (5) CAD (6) TOTAL USD (2) USD GBP EUR CAD (6) Revolving Credit Facility $ 1,390,292 $ 494,119 £ 344,000 € 422,145 $ 38,000 $ 1,744,182 $ 1,030,962 £ 261,000 € 319,075 $ 38,000 (1) Assumes exchange rates of £1.00 to $1.25 for GBP, €1.00 to $1.04 for EUR and $1.00 CAD to $0.70 as of December 31, 2024 for illustrative purposes, as applicable. (2) Assumes exchange rates of £1.00 to $1.27 for GBP, €1.00 to $1.10 for EUR and $1.00 CAD to $0.75 as of December 31, 2023 for illustrative purposes, as applicable. (3) The USD portion of the Revolving Credit Facility is 100% fixed via swaps and, as of December 31, 2024, had a weighted-average effective interest rate of 6.0% after giving effect to interest rate swaps in place. (4) The GBP portion of Revolving Credit Facility is 58.1% fixed via swaps and, as of December 31, 2024, had a weighted-average effective interest rate of 6.4%. (5) The EUR portion of Revolving Credit Facility is 59.2% fixed via swaps and, as of December 31, 2024, had a weighted-average effective interest rate of 4.6% after giving effect to interest rate swaps in place. (6) The CAD portion of Revolving Credit Facility is 100% variable and, as of December 31, 2024, had a weighted-average effective interest rate of 6.0%. In April 2024, the Company completed the CMBS Loan II financing and used the net proceeds to pay down draws on the USD portion of the Revolving Credit Facility. Also in April 2024, the Company repaid its mortgage loan that encumbered its McLaren properties in the United Kingdom using borrowings under the GBP portion of the Revolving Credit Facility, and, in June 2024, the Company repaid its mortgage loan that encumbered its properties in The Netherlands and Luxembourg using borrowings under the EUR portion of the Revolving Credit Facility. The Company recorded losses related to debt extinguishments and debt modifications of $15.9 million, which is recorded in loss on debt extinguishments and modifications in the consolidated statement operations for the year ended December 31, 2024. Of this amount, $13.1 million was recorded in the second quarter of 2024, and was primarily due to cash payments made upon repaying certain mortgage loans, primarily related to the fee required to be paid upon repayment of the mortgage loan that encumbered our McLaren properties in the U.K. This mortgage loan was assumed as part of our acquisition of the McLaren properties in 2021 and included the fee noted above in the terms of the mortgage. The losses related to debt modifications, incurred during the year ended December 31, 2024, primarily related to the modification of certain mortgage notes. Credit Agreement - Terms The Revolving Credit Facility requires payments of interest only prior to maturity. Borrowings under the Revolving Credit Facility bear interest at a variable rate per annum based on an applicable margin that varies based on the ratio of consolidated total indebtedness to consolidated total asset value of the Company and its subsidiaries plus either (i) the Base Rate (as defined in the Credit Agreement) or (ii) the applicable Benchmark Rate (as defined in the Credit Agreement) for the currency being borrowed. The applicable interest rate margin is based on a range from 0.30% to 0.90% per annum with respect to Base Rate borrowings under the Revolving Credit Facility and 1.30% to 1.90% per annum with respect to Benchmark Rate borrowings under the Revolving Credit Facility. For Benchmark Rate Loans denominated in Dollars that bear interest calculated by reference to Term SOFR, there is an additional spread adjustment depending on the length of the interest period. In addition, (i) if the Company achieves an investment grade credit rating from at least two rating agencies, the OP can elect for the spread to be based on the credit rating of the Company, and (ii) the “floor” on the applicable Benchmark is 0%. As of December 31, 2024, the Revolving Credit Facility had a weighted-average effective interest rate of 5.7% after giving effect to interest rate swaps in place. The Revolving Credit Facility matures on October 8, 2026, subject to the Company’s option, subject to customary conditions, to extend the maturity date by up to two additional six-month terms. Borrowings under the Revolving Credit Facility may be prepaid at any time, in whole or in part, without premium or penalty, subject to customary breakage costs associated with borrowings for the applicable Benchmark Rate. The Revolving Credit Facility requires the Company through the OP to pay an unused fee per annum of 0.25% of the unused balance of the Revolving Credit Facility if the unused balance exceeds or is equal to 50% of the total commitment or a fee per annum of 0.15% of the unused balance of the Revolving Credit Facility if the unused balance is less than 50% of the total commitment. From and after the time the Company obtains an investment grade credit rating, the unused fee will be replaced with a facility fee based on the total commitment under the Revolving Credit Facility multiplied by 0.30%, decreasing as the Company’s credit rating increases. The Revolving Credit Facility is supported by a pool of eligible unencumbered properties that are owned by the subsidiaries of the OP that serve as guarantors. The availability of borrowings under the Revolving Credit Facility continues to be based on the value of a pool of eligible unencumbered real estate assets owned by the Company or its subsidiaries and compliance with various ratios related to those assets. As of December 31, 2024, approximately $332.5 million was available for future borrowings under the Revolving Credit Facility. Any future borrowings may, at the option of the Company, be denominated in USD, EUR, CAD, GBP, Norwegian Krone, Swedish Krona and Swiss Francs provided that the total principal amount of non-USD loans cannot exceed the sum of the total revolving commitments minus $100.0 million. Amounts borrowed may not, however, be converted to, or repaid in, another currency once borrowed. The Credit Agreement contains events of default relating to customary matters, including, among other things, payment defaults, covenant defaults, breaches of representations and warranties, events of default under other material indebtedness, material judgments, bankruptcy events and change of control events, such as certain changes to the composition of the Board and management. Upon the occurrence of an event of default, a majority of the lenders have the right to accelerate the payment on any outstanding borrowings and other obligations. The Company, through the OP, may reduce the amount committed under the Revolving Credit Facility and repay outstanding borrowings under the Revolving Credit Facility, in whole or in part, at any time without premium or penalty, other than customary “breakage” costs payable on LIBOR borrowings. In the event of a default, lenders have the right to terminate their obligations under the Revolving Credit Facility agreement and to accelerate the payment on any unpaid principal amount of all outstanding loans. The Credit Agreement contains various customary operating covenants, including covenants restricting, among other things, restricted payments (including dividends and share repurchases (see additional information below), the incurrence of liens, the types of investments the Company may make, fundamental changes, agreements with affiliates and changes in nature of business. The Credit Agreement also contains financial maintenance covenants with respect to maximum leverage, minimum fixed charge coverage, maximum secured leverage, maximum secured recourse debt, minimum tangible net worth, maximum unencumbered leverage and unencumbered debt service coverage. As of December 31, 2024, the Company was in compliance with all covenants under the Credit Agreement. Under the terms of the Credit Agreement, the Company may not pay distributions, including cash dividends payable with respect to Common Stock, the Company’s 7.25% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share (“Series A Preferred Stock”), its 6.875% Series B Cumulative Redeemable Perpetual Preferred Stock $0.01 par value per share (“Series B Preferred Stock”), its Series D Preferred Stock, its Series E Preferred Stock, or any other class or series of stock the Company may issue in the future, or redeem or otherwise repurchase shares of Common Stock, Series A Preferred Stock, Series B Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, or any other class or series of stock the Company may issue in the future that exceed 100% of the Company’s Adjusted FFO, as defined in the Credit Agreement (which is different from AFFO disclosed in this Annual Report on Form 10-K) for any period of four consecutive fiscal quarters, except in limited circumstances, including that for one fiscal quarter in each calendar year, the Company may pay cash dividends and other distributions, and make redemptions and other repurchases in an aggregate amount equal to no more than 105% of its Adjusted FFO. However, notwithstanding the preceding sentence, the Company is permitted to make restricted payments (including the making of distributions and share repurchases) in an amount required to be paid by the Company in order for it to (x) maintain its REIT status for federal and state income tax purposes and (y) avoid the payment of federal and state income or excise tax. During a payment or bankruptcy event of default, restricted payments by the Company will only be permitted up to the minimum amount needed to maintain the Company’s status as a REIT for federal and state income tax purposes. From and after the time the Company obtains and continues to maintain an investment grade rating, the limitation on distributions discussed above will not be applicable. The Company last used the exception to pay dividends that were between 100% of Adjusted FFO to 105% of Adjusted FFO during the quarter ended on June 30, 2020, and may use this exception in the future. The Company’s ability to comply with the restrictions on the payment of distributions in the Credit Agreement depends on its ability to generate sufficient cash flows that in the applicable periods exceed the level of Adjusted FFO required by these restrictions. If the Company is not able to generate the necessary level of Adjusted FFO, the Company will have to reduce the amount of dividends paid on the common and the preferred stock or consider other actions. Alternatively, the Company could elect to pay a portion of its dividends on the Common Stock in additional shares of Common Stock if approved by the Board. The Company and certain subsidiaries of the OP acting as guarantors (the “Guarantors”) have guaranteed, and any wholly owned eligible direct or indirect subsidiary of the OP that directly or indirectly owns or leases a real estate asset added to the pool of eligible unencumbered properties required to be maintained under the Credit Agreement is required to guarantee, the OP’s obligations under the Revolving Credit Facility. The Guarantors guaranteed the OP’s obligations under the Revolving Credit Facility pursuant to one or more guarantees (collectively, the “Guaranty”) and a related contribution agreement which governs contribution rights of the Guarantors in the event any amounts become payable under the Guaranty. For any Guarantor subsidiary of the OP, this guarantee will be released if the Company achieves an investment grade credit rating from at least one rating agency, but will again be required (i) if the Company loses its investment grade credit rating, or (ii) with respect to any Guarantor subsidiary of the Company, for so long as the subsidiary is the primary obligor under or provides a guaranty to any holder of unsecured indebtedness.

Senior Notes, Net

Senior Notes, Net	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Senior Notes, Net	Senior Notes, Net The details of the Company’s senior notes are as follows: December 31, (In thousands) 2024 2023 3.75% Senior Notes Aggregate principal amount $ 500,000 $ 500,000 Less: Deferred financing costs (4,100) (5,491) 3.75% Senior Notes, net 495,900 494,509 4.50% Senior Notes Aggregate principal amount 500,000 500,000 Less: Discount (89,799) (108,464) 4.50% Senior Notes, net 410,201 391,536 Senior Notes, Net $ 906,101 $ 886,045 3.75% Senior Notes On December 16, 2020, the Company and the OP (together the “Issuers”) issued $500.0 million aggregate principal amount of 3.75% Senior Notes due 2027 (the “3.75% Senior Notes”). In connection with the closing of the offering of the Senior Notes, the Company, the OP and their subsidiaries that guarantee the 3.75% Senior Notes (the “3.75% Senior Note Guarantors”) entered into an indenture with U.S. Bank Trust Company, National Association, as successor to U.S. Bank National Association, as trustee (the “3.75% Senior Notes Indenture”). The 3.75% Senior Notes, which were issued at par, will mature on December 15, 2027 and accrue interest at a rate of 3.75% per year. Interest on the 3.75% Senior Notes is payable semi-annually in arrears on June 15 and December 15 of each year and they do not require any principal payments prior to maturity. The 3.75% Senior Notes are fully and unconditionally guaranteed on a joint and several basis by the subsidiaries of each Issuer that are guarantors under the Revolving Credit Facility (the “3.75% Senior Note Guarantees”). Subject to certain exceptions, each future subsidiary of each Issuer that subsequently guarantees indebtedness under the Revolving Credit Facility, any other syndicated loan facility or any capital markets indebtedness, in each case, is required to execute a 3.75% Senior Note Guarantee. Under certain circumstances, the 3.75% Senior Note Guarantors may be automatically released from their 3.75% Senior Note Guarantees without the consent of the holders of the 3.75% Senior Notes. The 3.75% Senior Notes are redeemable at the option of the Issuers, in whole at any time or in part from time to time, in each case prior to September 15, 2027, for cash, at a redemption price equal to the greater of (i) 101% of the principal amount of the 3.75% Senior Notes to be redeemed or (ii) an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest on the 3.75% Senior Notes to be redeemed that would be due if the 3.75% Senior Notes matured on September 15, 2027 (exclusive of unpaid interest accrued to, but not including, the date of redemption) discounted to the date of redemption on a semi-annual basis at the treasury rate plus 50 basis points, plus, in each case, unpaid interest, if any, accrued to, but not including, the date of redemption. In addition, at any time on or after September 15, 2027, the 3.75% Senior Notes will be redeemable, at the option of the Issuers, in whole at any time or in part from time to time, for cash, at a redemption price equal to 100% of the principal amount of the 3.75% Senior Notes to be redeemed plus unpaid interest, if any, accrued to, but not including, the date of redemption. If a Change of Control Triggering Event (as defined in the 3.75% Senior Notes Indenture) occurs, the Issuers will be required to make an offer to purchase the 3.75% Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, up to, but excluding, the purchase date. If the Issuers or any of their restricted subsidiaries sell assets, under certain circumstances the Issuers will be required to make an offer to purchase the 3.75% Senior Notes at a price equal to 100% of the principal amount, plus accrued interest and unpaid interest, if any, up to, but excluding, the purchase date. The 3.75% Senior Notes Indenture contains covenants that, among other things, limit the ability of the Issuers and their restricted subsidiaries to (1) incur additional indebtedness, (2) pay dividends and make distributions on the capital stock of the Company and each Issuer’s restricted subsidiaries, (3) make investments or other restricted payments, (4) create liens on their assets, (5) enter into transactions with affiliates, (6) merge or consolidate or sell all or substantially all of their assets, (7) sell assets and (8) create restrictions on the ability of their restricted subsidiaries to pay dividends or other amounts to them. These covenants are subject to important exceptions and qualifications. In addition, if the 3.75% Senior Notes are rated investment grade by any two of Moody’s Investors Service, Inc., Fitch Ratings Inc. and Standard & Poor’s Ratings Services, and at such time no default or event of default under the 3.75% Senior Notes Indenture has occurred and is continuing, many of the covenants in the 3.75% Senior Notes Indenture will be suspended or become more lenient and may not go back into effect. The 3.75% Senior Notes Indenture contains customary events of default which could, subject to certain conditions, cause the 3.75% Senior Notes to become immediately due and payable. As of December 31, 2024 , the Company was in compliance with the covenants under the 3.75% Senior Notes Indenture governin g the 3.75% Senior Notes. 4.50% Senior Notes In connection with the REIT Merger, the Company and the OP assumed and became a guarantor of the 4.50% Senior Notes (the “4.50% Senior Notes” and the indenture governing such notes, as supplemented from time to time, the “4.50% Senior Notes Indenture”) issued by RTL and the RTL OP (the “4.50% Senior Note Issuers”). The assumption and guarantees made by the Company, the OP and certain of their subsidiaries (such entities, together with the existing subsidiary guarantors of RTL and the RTL OP, the “4.50% Senior Note Guarantors”) were made pursuant to a supplemental indenture governing the 4.50% Senior Notes. The 4.50% Senior Notes were recorded at their estimated fair value on the Acquisition Date of the Mergers, resulting in the recording of a discount. This discount is being amortized as an increase to interest expense over the remaining term of the 4.50% Senior Notes. The 4.50% Senior Notes, which RTL issued on October 7, 2021, were issued at par, will mature on September 30, 2028 and accrue interest at a rate of 4.50% per year. Interest on the 4.50% Senior Notes is payable semi-annually in arrears on March 30 and September 30 of each year and they do not require any principal payments prior to maturity. The 4.50% Senior Notes are fully and unconditionally guaranteed by the 4.50% Senior Note Guarantors (the “4.50% Senior Note Guarantees”). Subject to certain exceptions, each future subsidiary of each of the 4.50% Senior Note Issuers that subsequently guarantees indebtedness under the Revolving Credit Facility, any other syndicated loan facility or any capital markets indebtedness, in each case, of the 4.50% Senior Note Issuers or a 4.50% Senior Note Guarantor will be required to execute a 4.50% Senior Note Guarantee. Under certain circumstances, the 4.50% Senior Note Guarantors may be automatically released from their 4.50% Senior Note Guarantees without the consent of the holders of the 4.50% Senior Notes. The 4.50% Senior Notes and the 4.50% Senior Note Guarantees are senior unsecured obligations of the 4.50% Senior Notes Issuers and each 4.50% Senior Note Guarantor and are equal in right of payment with all of the other existing and future senior unsecured indebtedness of the 4.50% Senior Notes Issuers and each 4.50% Senior Note Guarantor, including their obligations under the Revolving Credit Facility, senior in right of payment to any indebtedness that by its terms is expressly subordinated to the 4.50% Senior Notes and the 4.50% Senior Note Guarantees, effectively subordinated to all of the existing and future secured indebtedness of the 4.50% Senior Notes Issuers and each Guarantor to the extent of the value of the collateral securing such debt and structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, of any subsidiary of the 4.50% Senior Notes Issuers that do not guarantee the 4.50% Senior Notes. The 4.50% Senior Notes are redeemable at the option of the 4.50% Senior Notes Issuers, in whole at any time or in part from time to time, in each case prior to June 30, 2028, for cash, at a redemption price equal to the greater of (i) 101% of the principal amount of the 4.50% Senior Notes to be redeemed or (ii) an amount equal to the sum of the present values of the remaining scheduled payments of principal and interest on the Senior Notes to be redeemed that would be due if the Senior Notes matured on June 30, 2028 (exclusive of unpaid interest accrued to, but not including, the date of redemption) discounted to the date of redemption on a semi-annual basis at the treasury rate plus 50 basis points, plus, in each case, unpaid interest, if any, accrued to, but not including, the date of redemption. In addition, at any time on or after June 30, 2028, the 4.50% Senior Notes will be redeemable, at the option of the Issuers, in whole at any time or in part from time to time, for cash, at a redemption price equal to 100% of the principal amount of the 4.50% Senior Notes to be redeemed plus unpaid interest, if any, accrued to, but not including, the date of redemption. If a Change of Control Triggering Event (as defined in the 4.50% Senior Notes Indenture) occurs, the 4.50% Senior Notes Issuers will be required to make an offer to purchase the 4.50% Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, up to, but excluding, the purchase date. If the 4.50% Senior Notes Issuers or any of their restricted subsidiaries sell assets, under certain circumstances the Senior Notes Issuers will be required to make an offer to purchase the 4.50% Senior Notes at a price equal to 100% of the principal amount, plus accrued interest and unpaid interest, if any, up to, but excluding, the purchase date. The 4.50% Senior Notes Indenture contains covenants that, among other things, limit the ability of the 4.50% Senior Notes Issuers and their restricted subsidiaries to (1) incur additional indebtedness, (2) pay dividends and make distributions on the capital stock of the Company and each Senior Notes Issuer’s restricted subsidiaries, (3) make investments or other restricted payments, (4) create liens on their assets, (5) enter into transactions with affiliates, (6) merge or consolidate or sell all or substantially all of their assets, (7) sell assets and (8) create restrictions on the ability of their restricted subsidiaries to pay dividends or other amounts to them. These covenants are subject to important exceptions and qualifications. In addition, if the 4.50% Senior Notes are rated investment grade by any two of Moody’s Investors Service, Inc., Fitch Ratings Inc. and Standard & Poor’s Ratings Services, and at such time no default or event of default under the 4.50% Senior Notes Indenture has occurred and is continuing, many of the covenants in the 4.50% Senior Notes Indenture will be suspended or become more lenient and may not go back into effect. The 4.50% Senior Notes Indenture contains customary events of default which could, subject to certain conditions, cause the 4.50% Senior Notes to become immediately due and payable. As of December 31, 2024 , the Company and the issuers under the 4.50% Senior Notes Indenture were in compliance with the covenants under the Indenture governin g the 4.50% Senior Notes Indenture.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2024
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 and those inputs are significant. 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, 2024 and 2023, 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. The consideration transferred by the Company in the Mergers established a new accounting basis for the assets acquired, liabilities assumed and any non-controlling interests, measured at their respective fair value as of the Acquisition Date. This measurement is non-recurring and is only done as of the Acquisition Date. For more information on the allocation of the consideration paid in the Mergers to the fair value of assets acquired, liabilities assumed, see Note 3 — The Mergers. Real Estate Investments Measured at Fair Value on a Non-Recurring Basis The Company records impairments for real estate investments whenever the carrying value exceeds the estimated fair value (see Note 4 — Real Estate Investments, Net for additional information on impairment charges recorded by the Company). The carrying value of these impaired real estate investments on the consolidated balance sheet represents their estimated fair value at the time of impairment. For the year ended December 31, 2024, the fair values of impaired properties were either based on the estimated selling price of such properties, or market comparable transactions. For the year ended December 31, 2023, the fair values were based on a calculation of the estimated fair value, which was driven by an assumed land value of £1.5 million per acre, for one property, and the others were based on the estimated selling prices of the assets. The impairments recorded in the year ended December 31, 2022 were based on the estimated selling prices of the assets. Impaired real estate investments which are held for use are generally classified in Level 3 of the fair value hierarchy. 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, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those instruments fall. (In thousands) Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total December 31, 2024 Foreign currency forwards, net (GBP & EUR) $ — $ 1,583 $ — $ 1,583 Interest rate swaps, net (USD, GBP & EUR) $ — $ (2,831) $ — $ (2,831) December 31, 2023 Foreign currency forwards, net (GBP & EUR) $ — $ (1,569) $ — $ (1,569) Interest rate swaps, net (USD, GBP & EUR) $ — $ 7,039 $ — $ 7,039 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 year ended December 31, 2024. Financial Instruments not Measured at Fair Value The carrying value of short-term financial instruments such as cash and cash equivalents, restricted cash, due to/from related parties, prepaid expenses and other assets, accounts payable, accrued expenses and dividends payable approximates their fair value due to their short-term nature. The fair value approaches used rely on unobservable inputs and therefore are classified as Level 3 in the fair value hierarchy. • The gross carrying value of the Company’s mortgage notes payable as of December 31, 2024 and 2023 were $2.3 billion and $2.7 billion, respectively. The fair value of gross mortgage notes payable as of December 31, 2024 and 2023 was $2.2 billion and $2.5 billion, respectively, and is based on estimates of market interest rates. • As of December 31, 2024 the advances to the Company under the Revolving Credit Facility had a carrying value of $1.4 billion and a fair value of $1.4 billion. As of December 31, 2023 the advances to the Company under the Revolving Credit Facility had a carrying value of $1.7 billion and a fair value of $1.7 billion. • As of December 31, 2024, the 3.75% Senior Notes had a gross carrying value of $500.0 million and a fair value of $458.1 million. As of December 31, 2023, the 3.75% Senior Notes had a gross carrying value of $500.0 million and a fair value of $416.3 million. •

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Risk Management Objective of Using Derivatives 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 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 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 any counterparty to a contractual arrangement may not be able to perform under the agreement. To mitigate this risk, the Company only enters into a derivative financial instrument with a counterparty with a high credit rating with a major financial institution, with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any such counterparty will fail to meet its obligations, but there is no assurance that any counterparty will meet these 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, 2024 and 2023: December 31, (In thousands) Balance Sheet Location 2024 2023 Derivatives designated as hedging instruments: Interest rate “pay-fixed” swaps (USD) Derivative liabilities, at fair value $ (1,179) $ (2,110) Interest rate “pay-fixed” swaps (GBP) Derivative liabilities, at fair value (602) — Interest rate “pay-fixed” swaps (EUR) Derivative assets, at fair value 260 5,987 Interest rate “pay-fixed” swaps (EUR) Derivative liabilities, at fair value (1,310) — Total $ (2,831) $ 3,877 Derivatives not designated as hedging instruments: Foreign currency forwards (GBP-USD) Derivative assets, at fair value $ 1,156 $ 878 Foreign currency forwards (GBP-USD) Derivative liabilities, at fair value (628) (1,906) Foreign currency forwards (EUR-USD) Derivative assets, at fair value 1,055 588 Foreign currency forwards (EUR-USD) Derivative liabilities, at fair value — (1,129) Interest rate swaps (EUR) Derivative assets, at fair value — 3,162 Total $ 1,583 $ 1,593 Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives 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. All of the changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive income (“AOCI”) and are subsequently reclassified into earnings in the period that the hedged forecasted transaction impacts earnings. For the year ended December 31, 2024, such derivatives were used to hedge the variable cash flows associated with variable-rate debt. Amounts reported in AOCI related to derivatives are reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. In the second quarter of 2022 the Company accelerated the reclassification of amounts in other comprehensive income to earnings as a result of certain hedged forecasted transactions becoming probable not to occur. The accelerated amount was a gain of $2.4 million in the three months ended June 30, 2022 and is recorded in unrealized gain on undesignated foreign currency advances and other hedge ineffectiveness in the Company’s consolidated income statement for the year ended December 31, 2022. During the next 12 months ending December 31, 2025, the Company estimates that an additional $0.3 million will be reclassified from other comprehensive income as a decrease to interest expense. As of December 31, 2024 and 2023, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: December 31, 2024 2023 Derivatives Number of Notional Amount Number of Notional Amount (In thousands) (In thousands) Interest rate “pay-fixed” swaps (GBP) 3 $ 250,718 — $ — Interest rate “pay-fixed” swaps (EUR) 9 321,178 11 308,233 Interest rate “pay-fixed” swaps (USD) 9 600,000 5 300,000 Total 21 $ 1,171,896 16 $ 608,233 The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, (In thousands) 2024 2023 2022 Amount of (loss) gain recognized in AOCI from derivatives $ 7,928 $ (5,100) $ 27,896 Amount of gain (loss) reclassified from AOCI into income as interest expense $ 14,583 $ 15,744 $ (5) Total interest expense recorded in the consolidated statements of operations $ 326,932 $ 179,411 $ 97,510 Net Investment Hedges The Company is exposed to fluctuations in foreign currency exchange rates on property investments in foreign countries which pay rental income, incur property related expenses and borrow in currencies other than its functional currency, the USD. For derivatives designated as net investment hedges, all of the changes in the fair value of the derivatives, including the ineffective portion of the change in fair value of the derivatives, if any, are reported in AOCI (outside of earnings) as part of the cumulative translation adjustment. Amounts are reclassified out of AOCI into earnings when the hedged net investment is either sold or substantially liquidated. As of December 31, 2024 and 2023 the Company did not have foreign currency derivatives that were designated as net investment hedges used to hedge its net investments in foreign operations and during the years ended December 31, 2024, 2023 and 2022, the Company did not use foreign currency derivatives that were designated as net investment hedges. Foreign Denominated Debt Designated as Net Investment Hedges All foreign currency denominated borrowings under the Revolving Credit Facility are designated as net investment hedges. As such, the designated portion of changes in value due to currency fluctuations are reported in AOCI (outside of earnings) as part of the cumulative translation adjustment. The remeasurement gains and losses attributable to the undesignated portion of the foreign-currency denominated debt are recognized directly in earnings. Amounts are reclassified out of AOCI into earnings when the hedged net investment is either sold or substantially liquidated, or if the Company should no longer possess a controlling interest. The Company records adjustments to earnings for currency impacts related to undesignated excess positions, if any. During the year ended December 31, 2024, the Company recorded gains of $3.2 million due to currency changes on the undesignated excess foreign currency advances over the related net investments. There were no undesignated excess positions at any time during the years ended December 31, 2023 and 2022. 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 has used and may continue to use foreign currency derivatives, including options, 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 economically 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 gains of $4.2 million, losses of $3.7 million and gains of $18.6 million on the non-designated hedges for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024 and 2023, the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships: December 31, 2024 December 31, 2023 Derivatives Number of Notional Amount Number of Notional Amount (In thousands) (In thousands) Foreign currency forwards (GBP - USD) 30 $ 69,574 29 $ 54,745 Foreign currency forwards (EUR - USD) 19 29,085 28 41,952 Interest rate swaps (EUR) — — 3 154,062 Total 49 $ 98,659 60 $ 250,759 Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2024 and 2023. 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, 2024 $ 2,471 $ (3,719) $ — $ (1,248) $ — $ — $ (1,248) December 31, 2023 $ 10,615 $ (5,145) $ — $ 5,470 $ — $ — $ 5,470 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 has drawn, and expects to continue to draw, foreign currency advances under the Revolving 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. 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, 2024, the Company did not have any counterparties where the net derivative fair value held by that counterparty was in a net liability position including accrued interest but excluding any adjustment for nonperformance. As of December 31, 2024, 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.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock As of December 31, 2024 and 2023, the Company had 231,051,139 and 230,885,197, respectively, shares of Common Stock issued and outstanding, including Restricted Shares and excluding RSUs and PSUs. Unvested RSUs and PSUs may be settled in shares of Common Stock in the future. ATM Program — Common Stock The Company has an “at the market” equity offering program (the “Common Stock ATM Program”) pursuant to which the Company may sell shares of Common Stock, from time to time, through its sales agents. In November 2022, the Company filed a new shelf registration statement and prospectus supplement covering the Common stock ATM Program having an aggregate offering price of up to $285.0 million, prior to the expiration of its previous registration statement, which had an aggregate offering price up to $500.0 million ($285.0 million was sold under the previous registration statement). • The Company did not sell any shares of Common Stock through the Common Stock ATM Program during the years ended December 31, 2024 or 2023. • During the year ended December 31, 2022, the Company sold 70,218 shares of Common Stock through the Common Stock ATM Program for gross proceeds of $1.1 million, before nominal commissions and issuance costs were paid. Equity Consideration Issued in Connection with the Mergers As previously disclosed in Note 3 — The Mergers , during the year ended December 31, 2023, the Company issued: • 123,257,677 shares of Common Stock, • 7,933,711 shares of newly created Series D Preferred Stock (see “Preferred Stock” section below) and • 4,595,175 shares of newly created Series E Preferred Stock (see “Preferred Stock” section below). In addition, the OP issued 115,857 Class A Units to the previous owner of RTL Class A Units. Subsequently, in December 2024, the holder exchanged all of these Class A Units for an equal amount of shares of Common Stock. Additional Paid-In Capital - Common Stock Related to Cooperation Agreement and Other Arrangements On June 4, 2023, the Company entered into a Cooperation Agreement and Release (the “Cooperation Agreement”) with Blackwells Capital LLC, an affiliate of Blackwells Onshore I LLC, and certain others involved with the 2023 proxy solicitation (collectively “Blackwells/Related Parties”) and related litigation which began in December 2022. Under the Cooperation Agreement, all parties agreed to dismiss, with prejudice, any ongoing litigation. As part of the Cooperation Agreement, the Company issued Common Stock to the Blackwells/Related Parties as a settlement fee and for consulting and advisory services and reimbursed expenses to the Blackwells/Related Parties. Under the Cooperation Agreement: • The Company issued 495,000 shares of Common Stock to the Blackwells/Related Parties on July 11, 2023 as a settlement fee. As a result of these shares being issuable as of June 30, 2023, the Company recorded expense and an increase to additional paid-in capital of $4.9 million in the three months ended June 30, 2023, and the expense is presented in the settlement costs line item of the consolidated statement of operations for the year ended December 31, 2023. • The Company issued 1,600,000 shares of Common Stock to the Blackwells/Related Parties on September 12, 2023 as consideration for consulting and advisory services performed pursuant to the Cooperation Agreement, including corporate governance, stockholder engagement and outreach, investor relations and proxy advisory firm engagement, and analysis prior to the Acquisition Date. As a result, the Company recorded expense and an increase to additional paid-in capital of $15.9 million in the three months ended September 30, 2023, and the expense is presented in the settlement costs line item of the consolidated statement of operations for the year ended December 31, 2023. • The Company reimbursed Blackwells $8.8 million of expenses in June 2023, which is presented in the settlement costs line item of the consolidated statements of operations for the year ended December 31, 2023. Also, on June 30, 2023, the Company entered into an agreement with an unaffiliated third party to provide certain advisory services to the Company related to the Mergers. In exchange for these services, the Company issued 45,579 shares of Common Stock to the third party on July 13, 2023 as a non-refundable retainer and recorded expense and an increase to additional paid-in-capital of $0.5 million, which is recorded in the consolidated financial statements for the year ended December 31, 2023. Also, in October, 2023 the Company issued an additional 59,253 shares of Common Stock to the same third party, upon completion of the third party’s services, and recorded expense and an increase to additional paid-in-capital of $0.6 million, which is recorded in the consolidated financial statements for the year ended December 31, 2023. As more fully discussed in Note 13 — Equity-Based Compensation , as of September 11, 2023, the end of the performance period applicable to the 2,500,000 GNL LTIP Units granted to the former Advisor pursuant to the 2021 OPP, a total of 883,750 of the GNL LTIP Units were earned and became vested and the remainder were forfeited. The earned GNL LTIP Units were subsequently converted into an equal number of shares of Common Stock on the Acquisition Date. As a result, the Company recorded a reclassification of $27.7 million from non-controlling interests to additional paid-in-capital, which is recorded in the consolidated statement of equity the year ended December 31, 2023. Preferred Stock As discussed in Note 3 — The Mergers , in connection with the REIT Merger, each issued and outstanding share of (i) RTL Series A Preferred Stock was automatically converted into one share of newly created Series D Preferred Stock, and (ii) RTL Series C Preferred Stock was automatically converted into one share of newly created Series E Preferred Stock. The Series D Preferred Stock and Series E Preferred Stock have substantially identical powers, preferences, privileges, and rights as the RTL Series A Preferred Stock and RTL Series C Preferred Stock, respectively. The Company is authorized to issue up to 40,000,000 shares of Preferred Stock. • The Company has classified and designated 9,959,650 shares of its authorized Preferred Stock as authorized shares of its Series Preferred Stock as of December 31, 2024 and 2023. The Company had 6,799,467 shares of Series A Preferred Stock issued and outstanding, as of December 31, 2024 and 2023. • The Company has classified and designated 11,450,000 shares of its authorized Preferred Stock as authorized shares of its Series B Preferred Stock as of December 31, 2024 and 2023. The Company had 4,695,887 shares of Series B Preferred Stock issued and outstanding, as of December 31, 2024 and 2023. • As of December 31, 2023 and through February 26, 2024, the Company had classified and designated 100,000 shares of its authorized Preferred Stock as authorized shares of its Series C preferred stock, $0.01 par value (“Series C Preferred Stock”). On February 26, 2024, the Company reclassified and redesignated each of the 100,000 shares of Series C Preferred Stock into 100,000 shares of unclassified and undesignated Preferred Stock. The Company has never issued any shares of Series C Preferred Stock. • The Company has classified and designated 7,933,711 shares of its authorized Preferred Stock as authorized shares of Series D Preferred Stock, as of December 31, 2024. The Company had 7,933,711 shares of Series D Preferred Stock issued and outstanding as of December 31, 2024 and 2023. • The Company has classified and designated 4,595,175 shares of its authorized Preferred Stock as authorized shares of Series E Preferred Stock, as of December 31, 2024. The Company had 4,595,175 shares of Series E Preferred Stock issued and outstanding as of December 31, 2024 and 2023. ATM Program — Series B Preferred Stock In December 2019, the Company established an “at the market” equity offering program for its Series B Preferred Stock (the “Series B Preferred Stock ATM Program”) pursuant to which the Company may sell shares of Series B Preferred Stock, from time to time through its sales agents. In November 2022, the Company filed a new shelf registration statement and prospectus supplement covering the Series B Preferred stock ATM Program having an aggregate offering price of up to $170.0 million, prior to the expiration of its previous registration statement, which had an aggregate offering price up to $200.0 million. • During the years ended December 31, 2024 and 2023, the Company did not sell any shares of its Series B Preferred Stock through the Series B Preferred Stock ATM Program. • During the year ended December 31, 2022, the Company sold 191,994 shares of its Series B Preferred Stock through the Series B Preferred Stock ATM Program for gross proceeds of $4.8 million before nominal commissions paid and issuance costs. Series A Preferred Stock - Terms Holders of Series A Preferred Stock are entitled to cumulative dividends in an amount equal to $1.8125 per share each year, which is equivalent to the rate of 7.25% of the $25.00 liquidation preference per share per annum. The Series A Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. The Series A Preferred Stock is redeemable in whole or in part, at the Company’s option, at a cash redemption price of $25.00 per share plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. In addition, upon the occurrence of a Delisting Event or a Change of Control (each as defined in the articles supplementary governing the terms of the Series A Preferred Stock (the “Articles Supplementary”), the Company may, subject to certain conditions, at its option, redeem the Series A Preferred Stock, in whole but not in part, within 90 days after the first date on which the Delisting Event occurred or within 120 days after the first date on which the Change of Control occurred, as applicable, by paying the liquidation preference of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. If the Company does not exercise these redemption rights upon the occurrence of a Delisting Event or a Change of Control, the holders of Series A Preferred Stock will have certain rights to convert Series A Preferred Stock into shares of Common Stock based on a defined formula subject to a cap whereby the holders of Series A Preferred Stock may receive a maximum of 2.301 shares of Common Stock (as adjusted for any stock splits) per share of Series A Preferred Stock. The necessary conditions to convert the Series A Preferred Stock into Common Stock have not been met as of December 31, 2024. Therefore, Series A Preferred Stock did not impact Company’s earnings per share calculations. The Series A Preferred Stock ranks senior to Common Stock, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, and on parity with the Series B Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. If dividends on any outstanding shares of Series A Preferred Stock have not been paid for six or more quarterly periods, holders of Series A Preferred Stock and holders of any other class or series of preferred stock ranking on parity with the Series A Preferred Stock, including the Series B Preferred Stock, Series D Preferred Stock and Series E Preferred Stock, will have the exclusive power, voting together as a single class, to elect two additional directors until all accrued and unpaid dividends on the Series A Preferred Stock have been fully paid. In addition, the Company may not authorize or issue any class or series of equity securities ranking senior to the Series A Preferred Stock with respect to dividend rights and rights upon our voluntary or involuntary liquidation, dissolution or winding-up or amend the Company’s charter to materially and adversely change the terms of the Series A Preferred Stock without the affirmative vote of at least two-thirds of the votes entitled to be cast on the matter by holders of outstanding shares of Series A Preferred Stock and holders of any other similarly-affected classes and series of preferred stock ranking on parity with the Series A Preferred Stock, including the Series B Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. Other than the limited circumstances described above and in the Articles Supplementary, holders of Series A Preferred Stock do not have any voting rights. Series B Preferred Stock - Terms Holders of Series B Preferred Stock are entitled to cumulative dividends in an amount equal to $1.71875 per share each year, which is equivalent to the rate of 6.875% of the $25.00 liquidation preference per share per annum. The Series B Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. On and after November 26, 2024, at any time and from time to time, the Series B Preferred Stock will be redeemable in whole or in part, at the Company’s option, at a cash redemption price of $25.00 per share plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. In addition, upon the occurrence of a Delisting Event or a Change of Control (each as defined in the articles supplementary governing the terms of the Series B Preferred Stock (the “Series B Articles Supplementary”), the Company may, subject to certain conditions, at its option, redeem the Series B Preferred Stock, in whole but not in part, within 90 days after the first date on which the Delisting Event occurred or within 120 days after the first date on which the Change of Control occurred, as applicable, by paying the liquidation preference of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. If the Company does not exercise these redemption rights upon the occurrence of a Delisting Event or a Change of Control, the holders of Series B Preferred Stock will have certain rights to convert Series B Preferred Stock into shares of Common Stock based on a defined formula subject to a cap whereby the holders of Series B Preferred Stock may receive a maximum of 2.5126 shares of Common Stock (as adjusted for any stock splits) per share of Series B Preferred Stock. The necessary conditions to convert the Series B Preferred Stock into Common Stock have not been met as of December 31, 2024. Therefore, Series B Preferred Stock did not impact Company’s earnings per share calculations. The Series B Preferred Stock ranks senior to Common Stock, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, and on parity with the Series A Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. If dividends on any outstanding shares of Series B Preferred Stock have not been paid for six or more quarterly periods, holders of Series B Preferred Stock and holders of any other class or series of preferred stock ranking on parity with the Series B Preferred Stock, including the Series A Preferred Stock, Series D Preferred Stock and Series E Preferred Stock, will be entitled to vote together as a single class, will have the exclusive power, voting together as a single class, to elect two additional directors until all accrued and unpaid dividends on the Series B Preferred Stock have been fully paid. In addition, the Company may not authorize or issue any class or series of equity securities ranking senior to the Series B Preferred Stock with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding-up or amend our charter to materially and adversely change the terms of the Series B Preferred Stock without the affirmative vote of at least two-thirds of the votes entitled to be cast on the matter by holders of outstanding shares of Series B Preferred Stock and holders of any other similarly-affected classes and series of preferred stock ranking on parity with the Series B Preferred Stock, including the Series A Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. Other than the limited circumstances described above and in the Series B Articles Supplementary, holders of Series B Preferred Stock do not have any voting rights. Series D Preferred Stock - Terms Holders of Series D Preferred Stock are entitled to cumulative dividends at a rate of 7.50% of the $25.00 liquidation preference per share per annum. The Series D Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. On and after March 26, 2024, at any time and from time to time, the Series D Preferred Stock is redeemable in whole, or in part, at the Company’s option, at a cash redemption price of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. In addition, upon the occurrence of a Delisting Event or a Change of Control, (each as defined in the articles supplementary governing the terms of the Series D Preferred Stock (the “Series D Articles Supplementary”), the Company may, subject to certain conditions, at its option, redeem the Series D Preferred Stock, in whole but not in part, within 90 days after the first date on which the Delisting Event occurred or within 120 days after the first date on which the Change of Control occurred, as applicable, by paying the liquidation preference of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. If the Company does not exercise these redemption rights upon the occurrence of a Delisting Event or a Change of Control, the holders of Series D Preferred Stock will have certain rights to convert Series D Preferred Stock into shares of Common Stock. The Series D Preferred Stock ranks senior to Common Stock, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, and on parity with the Series A Preferred Stock, Series B Preferred Stock and Series E Preferred Stock. If dividends on any outstanding shares of Series D Preferred Stock have not been paid for six or more quarterly periods, holders of Series D Preferred Stock and holders of any other class or series of preferred stock ranking on parity with the Series D Preferred Stock, including the Series A Preferred Stock, Series B Preferred Stock and Series E Preferred Stock, will have the exclusive power, voting together in a single class, to elect two additional directors until all accrued and unpaid dividends on the Series D Preferred Stock have been fully paid. In addition, the Company may not authorize or issue any class or series of equity securities ranking senior to the Series D Preferred Stock with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding-up or amend the Company’s charter to materially and adversely change the terms of the Series D Preferred Stock without the affirmative vote of at least two-thirds of the votes entitled to be cast on the matter by holders of outstanding shares of Series D Preferred Stock and holders of any other similarly-affected classes and series of preferred stock ranking on parity with the Series D Preferred Stock, including the Series A Preferred Stock, Series B Preferred Stock and Series E Preferred Stock. Other than the limited circumstances described above and in the Series D Articles Supplementary, holders of Series D Preferred Stock do not have any voting rights. Series E Preferred Stock - Terms Holders of Series E Preferred Stock are entitled to cumulative dividends in the amount of 7.375% of the $25.00 liquidation preference per share per annum. The Series E Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. On and after December 18, 2025, at any time and from time to time, the Series E Preferred Stock will be redeemable in whole, or in part, at the Company’s option, at a cash redemption price of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. In addition, upon the occurrence of a Delisting Event or a Change of Control (each as defined in the articles supplementary governing the terms of the Series E Preferred Stock (the “Series E Articles Supplementary”), the Company may, subject to certain conditions, at its option, redeem the Series E Preferred Stock, in whole but not in part, within 90 days after the first date on which the Delisting Event occurred or within 120 days after the first date on which the Change of Control occurred, as applicable, by paying the liquidation preference of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. If the Company does not exercise these redemption rights upon the occurrence of a Delisting Event or a Change of Control, the holders of Series E Preferred Stock will have certain rights to convert Series E Preferred Stock into shares of Common Stock. The Series E Preferred Stock ranks senior to Common Stock, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, and on parity with the Series A Preferred Stock, Series B Preferred Stock and Series D Preferred Stock. If dividends on any outstanding shares of Series E Preferred Stock have not been paid for six or more quarterly periods, holders of Series E Preferred Stock and holders of any other class or series of preferred stock ranking on parity with the Series E Preferred Stock, including the Series A Preferred Stock, Series B Preferred Stock and Series D Preferred Stock, will have the exclusive power, voting together in a single class, to elect two additional directors until all accrued and unpaid dividends on the Series E Preferred Stock have been fully paid. In addition, the Company may not authorize or issue any class or series of equity securities ranking senior to the Series E Preferred Stock with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding-up or amend the Company’s charter to materially and adversely change the terms of the Series E Preferred Stock without the affirmative vote of at least two-thirds of the votes entitled to be cast on the matter by holders of outstanding shares of Series E Preferred Stock and holders of any other similarly-affected classes and series of preferred stock ranking on parity with the Series E Preferred Stock, including the Series A Preferred Stock, Series B Preferred Stock and Series D Preferred Stock. Other than the limited circumstances described above and in the Series E Articles Supplementary, holders of Series E Preferred Stock do not have any voting rights. Dividends Common Stock Dividends On February 26, 2024, the Board approved a dividend policy that reduced the Company’s Common Stock dividend rate to an annual rate of $1.10 per share, or $0.275 per share on a quarterly basis. This Common Stock dividend rate became effective with the Common Stock dividend declared and paid in April 2024 and was still effective through January 2025. On February 27, 2025, the Company announced that the Board plans to reduce the quarterly dividend per share of Common Stock from $0.275 to $0.190 per share, representing an annual dividend rate of $0.76 per share, beginning with the dividend expected to be declared in April 2025. The reduction of the dividend rate is expected to yield benefits to the Company, including increasing the amount of cash that may be used to lower leverage. In connection with the Mergers, in October 2023, the Board approved an annual dividend rate of $1.42 per share, or $0.354 per share on a quarterly basis. The first dividend paid at this rate occurred on October 16, 2023 and, accordingly, during the three months ended March 31, 2024, the Company paid dividends at this rate as well. During the nine months ended September 30, 2023 and the year ended December 31, 2022, the Company paid dividends at an annual rate of $1.60 per share or $0.40 per share on a quarterly basis. Dividends authorized by the Board and declared by the Company are paid on a quarterly basis in arrears during the first month following the end of each fiscal quarter (unless otherwise specified) to common stockholders of record on the record date for such payment. The Board may alter the amounts of dividends paid or suspend dividend payments at any time prior to declaration 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 Class A Units and GNL LTIP Units as dividends. In addition, see Note 6 — Revolving Credit Facility for additional information on the restrictions on the payment of dividends and other distributions imposed by the Revolving Credit Facility. The following table details from a tax perspective, the portion of cash paid for Common Stock dividends, during the years presented, classified as return of capital and ordinary dividend income, per share per annum: Year Ended December 31, (In thousands) 2024 2023 2022 Return of capital $ 1.18 100.0 % $ 1.55 100.0 % $ 1.60 100.0 % Ordinary dividend income — — % — — % — — % Total $ 1.18 100.0 % $ 1.55 100.0 % $ 1.60 100.0 % Series A Preferred Stock Dividends Dividends on Series A Preferred Stock accrue in an amount equal to $0.453125 per share per quarter to holders of Series A Preferred Stock, which is equivalent to 7.25% of the $25.00 liquidation preference per share of Series A Preferred Stock per annum. Dividends on the Series A Preferred Stock are payable quarterly in arrears on the 15th day of January, April, July and October of each year (or, if not on a business day, on the next succeeding business day) to holders of record at the close of business on the record date set by the Board. Dividends paid during the year ended December 31, 2024 and 2023 on the Series A Preferred Stock were considered 89.3% and 100.0% return of capital, respectively, and dividends paid during the year ended December 31, 2022 on the Series A Preferred Stock were considered 69.9% ordinary dividend income. Series B Preferred Stock Dividends Dividends on Series B Preferred Stock accrue in an amount equal to $0.4296875 per share per quarter to holders of Series B Preferred Stock, which is equivalent to 6.875% of the $25.00 liquidation preference per share of Series B Preferred Stock per annum. Dividends on the Series B Preferred Stock are payable quarterly in arrears on the 15th day of January, April, July and October of each year (or, if not on a business day, on the next succeeding business day) to holders of record at the close of business on the record date set by the Board. Dividends paid during the years ended December 31, 2024 and 2023 on the Series B Preferred Stock were considered 89.3% and 100% return of capital, respectively, and dividends paid during the year ended December 31, 2022 on the Series B Preferred Stock were considered 69.9% ordinary dividend income. Series D Preferred Stockholders Dividends on the Company’s Series D Preferred Stock accrue in an amount equal to $0.46875 per share per quarter to Series D Preferred Stockholders, which is equivalent to the rate of 7.50% of the $25.00 liquidation preference per share per annum. Dividends on the Series D Preferred Stock are payable quarterly in arrears on the 15th day of each of January, April, July and October of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. Dividends paid during the years ended December 31, 2024 and 2023 on the Series D Preferred Stock were considered 89.3% and 100% return of capital, respectively. Series E Preferred Stockholders Dividends on the Company’s Series E Preferred Stock accrue in an amount equal to $0.4609375 per share per quarter to Series E Preferred Stockholders, which is equivalent to the rate of 7.375% of the $25.00 liquidation preference per share per annum. Dividends on the Series E Preferred Stock are payable quarterly in arrears on the 15th day of each of January, April, July and October of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. Dividends paid during the years ended December 31, 2024 and 2023 on the Series E Preferred Stock were considered 89.3% and 100% return of capital, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lessee Arrangements As of December 31, 2024, the Company leases land under 17 ground leases associated with certain properties and also has two operating leases for office space. The aggregate durations for the ground leases and operating leases range from 5.5 to 119 years as of December 31, 2024. The Company did not enter into any new ground or operating leases during the twelve months of 2024. As of December 31, 2024 and 2023, the Company’s balance sheet includes ROU assets of $74.3 million and $77.0 million, respectively, and operating lease liabilities of $48.3 million and $48.4 million, respectively. In determining the operating ROU assets and lease liabilities for the Company’s existing operating leases in accordance with lease accounting rules, the Company was required to estimate an appropriate incremental borrowing rate on a fully-collateralized basis for the terms of the leases. Since the terms of the Company’s ground leases are significantly longer than the terms of borrowings available to the Company on a fully-collateralized basis, the Company’s estimate of this rate required significant judgment. As of December 31, 2024, the Company’s ground leases and operating leases have a weighted-average remaining lease term of approximately 25.1 years and a weighted-average discount rate of 5.81% . For the years ended December 31, 2024, 2023 and 2022, the Company paid cash of approximately $4.0 million, $2.3 million and $1.3 million, respectively, for amounts included in the measurement of lease liabilities. For the years ended December 31, 2024, 2023 and 2022, the Company recorded expense of $1.5 million, $1.4 million and $1.3 million, respectively, on a straight-line basis in accordance with the standard. The lease expense is recorded in property operating expenses in the Company’s consolidated statements of operations. The following table reflects the base cash rental payments due from the Company as of December 31, 2024: (In thousands) Future Base Rent Payments (1) 2025 $ 3,751 2026 3,895 2027 3,976 2028 4,002 2029 4,023 Thereafter 73,990 Total minimum lease payments (2) 93,637 Less: Effects of discounting (45,304) Total present value of lease payments $ 48,333 (1) Assumes exchange rates of £1.00 to $1.25 for GBP and €1.00 to $1.04 for EUR as of December 31, 2024 for illustrative purposes, as applicable. (2) Ground lease rental payments due for the Company’s ING Amsterdam lease are not included in the table above as the Company’s ground rent for this property is prepaid through 2050. 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, 2024, 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, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Prior to the consummation of the Internalization Merger on September 12, 2023, the Company had retained the former Advisor to manage the Company’s affairs on a day-to-day basis and the Company’s properties were managed and leased to third parties by the Property Manager. Prior to the Internalization Merger on September 12, 2023, the former Advisor and the Property Manager were under common control with AR Global, and these related parties had historically received compensation and fees for various services provided to the Company. The consummation of the Internalization Merger on September 12, 2023 resulted in the internalization of the management of the Company with its own dedicated workforce, including by terminating (i) the Company’s existing arrangement for advisory management services provided by the former Advisor pursuant to the Advisory Agreement and (ii) RTL’s existing arrangement for advisory management services provided by the RTL Advisor and assuming (i) the Company’s existing arrangement for property management services provided by the Property Manager and (ii) RTL’s existing arrangement for property management services provided by the RTL Property Manager. All assets and contracts (including leases) necessary or desirable in the judgment of the Company and to conduct the business of the Company following the Mergers and all desired employees were placed into subsidiaries of AR Global that were merged with subsidiaries of the Company upon the completion of the Internalization Merger. As a result of the completion of the Internalization Merger, and termination of the contracts noted above, beginning as of the Acquisition Date, the Company longer incurs fees from these contracts. However, the Company incurred and will continue to incur costs for employee compensation, which are included in general and administrative expenses in the Company’s consolidated statement of operations. The Company engaged a third party service provider to assist with this process. For additional information on the Internalization Merger, including the consideration paid to AR Global, see Note 3 — The Mergers . Upon consummation of the Internalization Merger, the Company began renting office space for its own dedicated workforce at a property owned by affiliates of AR Global, the former Advisor. Terminated Advisory Agreement and Assumed Property Management Agreements The discussion below summarizes various related party agreements and transactions that ceased as of the Acquisition Date of the Mergers. Fees Paid in Connection with the Operations of the Company Prior to the Internalization Merger, when it was owned by AR Global, the former Advisor provided day-to-day asset management services for the Company pursuant to the Advisory Agreement. Prior to the Internalization Merger, under the Advisory Agreement, by and among the Company, the OP and the former Advisor, the Company historically paid the former Advisor the following fees in cash: (a) a minimum base fee of $18.0 million per annum payable in cash monthly in advance (“Minimum Base Management Fee”); and (b) a variable fee amount equal to 1.25% per annum of the sum, since the effective date of the Advisory Agreement in June 2015, of: (i) the cumulative net proceeds of all common equity issued by the Company (ii) any equity of the Company issued in exchange for or conversion of preferred stock or exchangeable notes, based on the stock price at the date of issuance; and (iii) any other issuances of common, preferred, or other forms of equity of the Company, including units in an operating partnership (excluding equity based compensation but including issuances related to an acquisition, investment, joint-venture or partnership) (the “Variable Base Management Fee”). The Company was required to pay the former Advisor any Incentive Compensation (as defined in the Advisory Agreement), generally payable in quarterly installments 50% in cash and 50% in shares of Common Stock (subject to certain lock up restrictions). The former Advisor did not earn any Incentive Compensation during the years ended December 31, 2023 or 2022. Property Management Fees Prior to the Internalization Merger, when it was owned by AR Global, the Property Manager provided property management and leasing services for properties owned by the Company, for which the Company pays fees to the Property Manager 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 in each case plus market-based leasing commissions applicable to the geographic location of the applicable property. For services related to overseeing property management and leasing services provided by any person or entity that was not an affiliate of the Property Manager, the Company paid the Property Manager an oversight fee equal to 1.0% of gross revenues of the property managed. This oversight fee was no longer applicable to 39 of the Company’s properties which became subject to separate property management agreements with the Property Manager in connection with certain mortgage loans entered into by the Company in October 2017, April 2019 and September 2019 on otherwise nearly identical terms to the primary property and management leasing agreement, which remained applicable to all other properties. If cash flow generated by any of the Company’s properties was not sufficient to fund the costs and expenses incurred by the Property Manager in fulfilling its duties under the property management and leasing agreements, the Company was required to fund additional amounts. Costs and expenses that were the responsibility of the Company under the property management and leasing agreements included, without limitation, reasonable wages and salaries and other employee-related expenses of all on-site and off-site employees of the Property Manager who were engaged in the operation, management, maintenance and leasing of the properties and other out-of-pocket expenses which were directly related to the operation, management, maintenance and leasing of specific properties, but did not include the Property Manager’s general overhead and administrative expenses. The Company historically paid leasing commissions to the Property Manager which are expensed over the terms of the related leases. During the years ended December 31, 2023 and 2022, the Company incurred leasing commissions to the Property Manager of $1.3 million and $3.8 million, respectively. Professional Fees and Other Reimbursements Prior to the Internalization Merger, the Company reimbursed the former Advisor or its affiliates for expenses paid or incurred by the former Advisor or its affiliates in providing services to the Company under the Advisory Agreement, except for those expenses that were specifically the responsibility of the former Advisor under the Advisory Agreement, such as salaries, bonus and other wages, payroll taxes and the cost of employee benefit plans of personnel of the Advisor and its affiliates (including the Company’s executive officers) who provided services to the Company under the Advisory Agreement, the former Advisor’s rent and general overhead expenses, the former Advisor’s travel expenses (subject to certain exceptions), professional services fees incurred with respect to the former Advisor for the operation of its business, insurance expenses (other than with respect to the Company’s directors and officers) and information technology expenses. In addition, these reimbursements were subject to the limitation that the Company would not reimburse the former 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 exceeded the greater of (a) 2.0% of average invested assets and (b) 25.0% of net income, unless the excess amount was otherwise approved by the Board. The amount of expenses reimbursable for the years ending December 31, 2023 and 2022 did not exceed these limits. The following table reflects related party fees incurred for the periods presented: Year Ended December 31, 2023 2022 (In thousands) Incurred Incurred Fees (1) : Asset management fees (2) $ 22,803 $ 32,549 Property management fees 5,480 7,573 Total operating fees to related parties $ 28,283 $ 40,122 ______________ (1) The Company incurred general and administrative costs and other expense reimbursements of approximately $1.2 million and $1.1 million for the years ended December 31, 2023 and 2022, respectively, which are recorded within general and administrative expenses on the consolidated statements of operations and are not reflected in the table above. (2) The former Advisor, in accordance with the Advisory Agreement, received asset management fees in ca sh e qual to the annual Minimum Base Management Fee of $18.0 million and the Variable Base Management Fee. The Variable Base Management Fee was $4.8 million and $14.5 million

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation 2021 Omnibus Incentive Compensation Plan; 2021 Omnibus Advisor Incentive Compensation Plan; Restricted Share Plan At the Company’s 2021 annual meeting of stockholders held on April 12, 2021, the Company’s stockholders approved the 2021 Omnibus Incentive Compensation Plan of Global Net Lease, Inc. (the “Individual Plan”) and the 2021 Omnibus Advisor Incentive Compensation Plan of Global Net Lease, Inc. (the “Advisor Plan” and together with the Individual Plan, the “2021 Equity Plan”). The terms of the Advisor Plan are substantially similar to the terms of the Individual Plan, except with respect to the eligible participants. Both the Individual Plan and the Advisor Plan became effective upon stockholder approval. The employees of the former Advisor and Property Manager, and their respective affiliates were also eligible to participate in the Company’s employee and director incentive restricted share plan (the “Restricted Share Plan”). Upon approval of the 2021 Equity Plan, the total number of shares of Common Stock that could be issued or subject to awards under the Advisor Plan and the Individual Plan, in the aggregate, was 6,300,000 shares. Shares issued or subject to awards under the Individual Plan reduce the number of shares available for awards under the Advisor Plan on a one-for-one basis and vice versa. The 2021 Equity Plan permits awards of Restricted Shares, RSUs, PSUs, stock options, stock appreciation rights, stock awards, LTIP Units and other equity awards and it expires on April 12, 2031. Only the former Advisor and any of its affiliates that were involved in providing services to the Company or any of its subsidiaries were eligible to receive awards under the Advisor Plan. As a result of the REIT Merger, no further participants are expected to be eligible to participate in the Advisor Plan from and following the REIT Merger and, accordingly, no further awards are expected to be granted under the Advisor Plan. Generally, directors, officers, employees and consultants of the Company are eligible to participate in the Individual Plan. Prior to the REIT Merger, employees of the Advisor or its affiliates who were consultants providing services to the Company were eligible to participate in the Individual Plan. RSUs RSUs were historically awarded under the 2021 Equity Plan, and have been and may continue to be awarded under the Individual Plan, following the Internalization Merger. Historically, prior to the third quarter of 2023, the Company only granted RSUs to its Board members on an annual basis. In November 2023, the Company began granting RSUs to its employees, including executives. RSUs represent a contingent right to receive shares of Common Stock at a future settlement date, subject to satisfaction of applicable vesting conditions or other restrictions and an award agreement evidencing the grant of RSUs. The RSUs provide for vesting on a straight-line basis over a specified period of time for each award. RSUs may not, in general, be sold or otherwise transferred until restrictions are removed and the RSUs are settled in, or converted into, the shares of Common Stock. The fair value of the RSUs granted is based on the market price of Common Stock as of the grant date. The fair value of the granted RSUs is expensed over the vesting period. Holders of RSUs do not have any voting rights with respect to the RSUs or any shares underlying any award of RSUs. For RSUs issued prior to the fourth quarter of 2024, the holders are generally credited with dividend equivalents which are subject to the same vesting conditions or other restrictions as the underlying RSUs and only paid at the time such RSUs are settled in shares of Common Stock. For RSUs granted in or after the fourth quarter of 2024, the holders will receive nonforfeitable cash dividends prior to the time that the RSUs have vested and settled in, or converted into, shares of Common Stock. No nonforfeitable cash dividends were paid for RSUs during the year ended December 31, 2024. A number of RSU award agreements provide for accelerated vesting of all unvested RSUs in connection with a participant’s death, disability or qualifying termination (including termination by the Company without cause or by the participant with good reason, as applicable) from the Company within 60 days immediately preceding or two years immediately following a change in control and accelerated vesting of the RSUs that would have vested upon the next vesting date in connection with a qualifying termination at any other time. Alternatively, certain of the RSU award agreements provide for accelerated vesting of all unvested RSUs in connection with a participant’s death, disability or qualifying termination (including termination by the Company without cause or by the participant with good reason). The following table reflects the RSU activity for the periods presented: Number of Weighted-Average Issue Price Unvested, December 31, 2021 44,510 $ 16.47 Granted 24,864 15.18 Vested (21,651) 16.43 Unvested, December 31, 2022 47,723 15.82 Granted (1) 526,788 8.90 Vested (28,439) 15.56 Forfeitures (10,304) 12.62 Unvested, December 31, 2023 535,768 9.09 Granted (2) 978,247 7.48 Vested (232,789) 8.93 Forfeitures (33,047) 8.07 Unvested, December 31, 2024 1,248,179 7.89 _______ (1) Represents 30,252 RSUs granted to the Board and 496,536 RSUs granted to employees of the Company. (2) Represents 142,464 RSUs granted to the Board and 835,783 RSUs granted to employees of the Company. Restricted Shares Restricted Shares are shares of Common Stock awarded pursuant to the 2021 Equity Plan, prior to the Internalization Merger, and granted pursuant to the Individual Plan thereafter, and the Restricted Share Plan under terms that provide for vesting over a specified period of time. Holders of Restricted Shares receive nonforfeitable cash dividends prior to the time that the restrictions on the Restricted Shares have lapsed. Any dividends to holders of Restricted Shares payable in shares of Common Stock are subject to the same restrictions as the underlying Restricted Shares. Restricted Shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. The Restricted Shares granted to the then employees of the former Advisor or its affiliates vest in 25% increments on each of the first four anniversaries of the grant date. Except in connection with a change in control (as defined in the award agreement) of the Company, any unvested Restricted Shares will be forfeited if the holder’s employment terminates for any reason. Upon a change in control of the Company, 50% of the unvested Restricted Shares will immediately vest and the remaining unvested Restricted Shares will be forfeited. A change of control, under the award agreement, did not occur as a result of the Mergers. The following table reflects Restricted Shares activity outstanding for the periods presented: Number of Restricted Shares Weighted-Average Issue Price Unvested, December 31, 2021 305,107 $ 18.81 Vested (148,278) 16.56 Granted 230,398 14.60 Forfeitures (27,387) 17.22 Unvested, December 31, 2022 359,840 17.16 Vested (274,850) 16.03 Granted 265,125 10.52 Issued in connection with the REIT Merger 221,136 10.73 Forfeitures (5,631) 11.79 Unvested, December 31, 2023 565,620 12.14 Vested (179,228) 13.01 Granted — — Forfeitures (51,750) 10.83 Unvested, December 31, 2024 334,642 11.88 PSUs In November 2023, the Compensation Committee approved awards of PSUs pursuant to the Individual Plan to full-time employees of the Company. PSUs may be earned and become vested if the Company’s absolute and relative total shareholder return (“TSR”) performance meets certain criteria (see “Performance Measures” below for more detail) over a three-year period performance period (the “PSU Performance Period”) beginning on October 1, 2023 and ending on September 30, 2026 (the “PSU Measurement Date”) and generally subject to the applicable employee’s continued employment through the PSU Measurement Date. Holders of PSUs do not have voting rights with respect to the PSUs or any shares underlying any award of PSUs, but such holders are generally credited with dividend equivalents which are subject to the same vesting conditions or other restrictions as the underlying PSUs and only paid at the time such PSUs are settled in shares of Common Stock. A number of the PSU award agreements provide for accelerated vesting of all unvested PSUs in connection with a participant’s qualifying termination ( including termination by the Company without cause or by the participant with good reason, as applicable) from the Company within 180 days immediately preceding or two years immediately following a change in control, and pro-rated vesting accelerated vested of all unvested PSUs in connection with a participant’s death, disability or qualifying termination at any other time. Alternatively, certain of the PSU award agreements provide for accelerated vesting of all unvested PSUs in connection with a participant’s death, disability or qualifying termination (including termination by the Company without Cause or by the participant with Good Reason). Level of Performance Threshold Target Maximum Potential Number of PSUs to be Issued 234,200 468,392 1,288,072 Under accounting rules, the total fair value of the PSUs granted at the maximum level under the Individual Plan totaled $5.1 million and was fixed as of November 29, 2023, the date that the Board approved the award of PSUs under the Individual Plan (the “PSU Grant Date”). The fair value will not be remeasured in subsequent periods unless the PSUs are amended. The fair value of the PSUs that were granted is being recorded evenly over the requisite service period which is approximately 2.8 years from November 29, 2023, ending on the PSU Measurement Date. Performance Measures: The ultimate amount of PSUs that may become earned and vested on the PSU Measurement Date will equal the sum of: (i) PSUs earned by comparing the Company’s TSR to the MSCI US REIT Index peer group (the “MSCI REIT Index”); (ii) PSUs earned by comparing the Company’s TSR to a custom designed net lease peer group consisting of EPR Properties, LXP Industrial Trust, Broadstone Net Lease, Inc., NNN REIT, Inc. and W.P. Carey Inc. (the “Custom Net Lease Peer Group”); and (iii) PSUs earned by achievement of certain TSR levels (the “Company TSR”). The following table details the number of PSUs that may be earned and vested on the PSU Measurement Date, by each category of performance goal: Target PSUs Percentage of Target PSUs Earned Number of PSUs Earned Company TSR Relative to the MSCI REIT Index: Less than 30 th percentile (Below Threshold) 175,647 — % — 30 th percentile (Threshold) (1) 175,647 50 % 87,825 55 th percentile (Target) (1) 175,647 100 % 175,647 Equal to or greater than 75 th percentile (Maximum) (1) 175,647 275 % 483,027 Company TSR Relative to the Custom Net Lease Peer Group: Less than 30 th percentile (Below Threshold) 175,647 — % — 30 th percentile (Threshold) (1) 175,647 50 % 87,825 55 th percentile (Target) (1) 175,647 100 % 175,647 Equal to or greater than 75 th percentile (Maximum) (1) 175,647 275 % 483,027 Company TSR: Less than 8% (Below Threshold) 117,098 — % — 8% (Threshold) (1) 117,098 50 % 58,550 10% (Target) (1) 117,098 100 % 117,098 12% or greater (Maximum) (1) 117,098 275 % 322,018 ________ (1) If amounts fall in between these ranges, the results will be determined using linear interpolation between those percentiles, respectively. Compensation Expense The combined compensation expense for RSUs, Restricted Shares and PSUs was $8.9 million and $4.4 million for the years ended December 31, 2024 and 2023, respectively and $3.1 million for the year ended December 31, 2022, which did not include PSUs. Compensation expense for these equity instruments is recorded as equity-based compensation in the accompanying consolidated statements of operations. In September 2022 the former Advisor terminated certain of its employees who provided services to the Company. In connection with the terminations, previous Restricted Share grants issued to these employees of the former Advisor were forfeited upon termination. The Board subsequently approved 23,156 newly issued fully vested shares. In the year ended December 31, 2022 the Company recognized a net compensation charge of approximately $0.3 million representing the value of the new replacement grants net of the reversal of $0.1 million in previously recognized compensation on the forfeited grants. As of December 31, 2024, the Company h a d $8.0 million unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted-average period of 2.1 years. As of December 31, 2024, the Company had $3.1 million unrecognized compensation cost related to Restricted Share awards granted, which is expected to be recognized over a period of 2.4 years. As of December 31, 2024, the Company had $3.2 million unrecognized compensation cost related to PSUs granted, which is expected to be recognized over a period of 1.75 years. 2018 Omnibus Incentive Compensation Plan of RTL In addition, as part of the REIT Merger, the Company assumed the 2018 Omnibus Incentive Compensation Plan of RTL (the “2018 RTL Equity Plan”). At the time of the assumption of the 2018 RTL Equity Plan, the total number of shares of Common Stock allowed to be issued or subject to awards under the 2018 RTL Equity Plan, subject to applicable securities exchange listing standards, was 2,295,658 shares. The Company has not issued any awards under the 2018 RTL Equity Plan. Multi-Year Outperformance Agreements With Former Advisor 2021 OPP — General Description On May 3, 2021, the Company’s independent directors, acting as a group, authorized an award of GNL LTIP Units under the 2021 OPP after the performance period under the 2018 OPP expired on June 2, 2021, and, on June 3, 2021, the Company, the OP and the Advisor entered into the 2021 OPP (see below for additional information on the 2018 OPP, including information on the LTIP Units granted and earned thereunder). Based on a maximum award value of $50.0 million and $20.00, the closing price of Common Stock on June 2, 2021(the “2021 Initial Share Price”), the Advisor was granted a total of 2,500,000 GNL LTIP Units pursuant to the 2021 OPP. These GNL LTIP Units were eligible to be earned and become vested based on the Company’s TSR, including both share price appreciation and reinvestment of Common Stock dividends, compared to the 2021 initial share price over a performance period commencing on June 3, 2021 and ending on the earliest of (i) June 3, 2024, (ii) the effective date of any Change of Control as defined in the Advisor Plan and (iii) the effective date of any termination of the Advisor’s service as the Company’s advisor. As noted above, the end date of the performance period was modified in connection with the Internalization Merger Agreement. Under accounting rules, the total fair value of the GNL LTIP Units granted under the 2021 OPP of $27.7 million was fixed as of June 3, 2021 and was not required to be remeasured in subsequent periods (see Note 2 — Summary of Significant Accounting Policies for a description of accounting rules related to non-employee equity awards). The fair value of the GNL LTIP Units that were granted was being recorded evenly over the requisite service period which was originally approximately 3.1 years from May 3, 2021, the date that the Company’s independent directors approved the award of GNL LTIP Units under the 2021 OPP. However, due to the modification noted below that changed the timing of the final measurement for determining whether the award is vested and earned, all of the remaining unrecognized compensation expense was accelerated and recorded in the quarter ended September 30, 2023 (through September 11, 2023). Modification of the 2021 OPP In connection with the Internalization Merger Agreement, the parties agreed to modify the terms of the existing 2021 OPP to accelerate timing for determining whether the award is vested and earned, which changed the end date of the performance period (as described in more detail above) to September 11, 2023, the day prior to the Acquisition Date of the Mergers. Accordingly, on September 11, 2023, the Special Committee reviewed and approved the final calculation determining that 883,750 of the 2,500,000 GNL LTIP Units subject to the 2021 OPP had been earned and became vested and Common Stock was issued for the vested GNL LTIP Units. The remaining 1,616,250 GNL LTIP Units were automatically forfeited, without the payment of any consideration. In addition: • Due to the modification noted above that changed the timing of the final measurement for determining whether the award is vested and earned, all of the remaining unrecognized compensation expense was accelerated and recorded in the quarter ended September 30, 2023 (through September 11, 2023). • In September 2023, the Company paid a $2.9 million priority catch-up distribution to the Advisor in respect of the 883,750 GNL LTIP Units that were earned under the 2021 OPP. Compensation Expense - 2021 OPP During the years ended December 31, 2023 and 2022, the Company recorded total compensation expense related to the 2021 OPP of $12.9 million and $9.0 million, respectively. Performance Measures With respect to one-half of the GNL LTIP Units granted under the 2021 OPP, the number of GNL LTIP Units that could have become earned was determined as of the last day of the performance period (which was modified to September 11, 2023 as noted above) based on the Company’s achievement of absolute TSR levels as shown in the table below. Under this performance measure, as modified no GNL LTIP Units were earned. Performance Level (% of Absolute GNL LTIP Units Earned) Absolute TSR Number of GNL LTIP Units Earned - 2021 OPP Below Threshold 0 % Less than 24% 0 Threshold 25 % 24% 312,500 Target 50 % 30% 625,000 Maximum 100 % 36% or higher 1,250,000 If the Company’s absolute TSR was more than 24% but less than 30%, or more than 30% but less than 36%, the number of GNL LTIP Units that could have become earned was determined using linear interpolation as between those tiers, respectively. With respect to the remaining one-half of the GNL LTIP Units granted under the 2021 OPP, the number of GNL LTIP Units that could have become earned was determined as of the last day of the performance period (which was modified to September 11, 2023 as noted above) based on the difference (expressed in terms of basis points, whether positive or negative, as shown in the table below) between the Company’s absolute TSR on the last day of the performance period (which was modified to September 11, 2023 as noted above) relative to the average TSR of a peer group consisting of Lexington Realty Trust, Office Properties Income Trust and W.P. Carey, Inc. as of the last day of the performance period. Under this performance measure, as modified, 883,750 GNL LTIP Units were earned. Performance Level (% of Relative GNL LTIP Units Earned) Relative TSR Excess Number of GNL LTIP Units Earned - 2021 OPP Below Threshold 0 % Less than -600 basis points 0 Threshold 25 % -600 basis points 312,500 Target 50 % 0 basis points 625,000 Maximum 100 % 600 basis points 1,250,000 If the relative TSR excess was more than -600 basis points but less than zero basis points, or more than zero basis points but less than +600 bps, the number of LTIP Units that became earned was determined using linear interpolation as between those tiers, respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a summary of the basic and diluted net income per share computation for the periods presented: Year Ended December 31, (In thousands, except share and per share data) 2024 2023 2022 Net loss attributable to common stockholders $ (175,316) $ (239,348) $ (8,363) Adjustments to net loss attributable to common stockholders for common share equivalents (659) (3,887) (939) Adjusted net loss attributable to common stockholders $ (175,975) $ (243,235) $ (9,302) Weighted average common shares outstanding — Basic and Diluted 230,440,385 142,584,332 103,686,395 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.76) $ (1.71) $ (0.09) Under current authoritative guidance for determining earnings per share, all unvested 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. The Company’s unvested Restricted Shares contain and the unearned GNL LTIP Units, prior to the end of the performance period at September 11, 2023, contained rights to receive distributions considered to be non-forfeitable, except in certain limited circumstances, and therefore the Company applies the two-class method of computing earnings per share. The calculation of earnings per share above excludes the distributions to the unvested Restricted Shares and unearned GNL LTIP Units (prior to the end of the performance period at September 11, 2023) from the numerator. Diluted net income per share assumes the conversion of all Common Stock share equivalents into an equivalent number of shares of Common Stock, unless the effect is anti-dilutive. The Company considers unvested RSUs, unvested Restricted Shares, unvested PSUs, and Class A Units (prior to their exchange for Common Stock in the fourth quarter of 2024) to be common share equivalents. The following table shows common share equivalents on a weighted-average basis that were excluded from the calculation of diluted earnings per share for the years ended December 31, 2024, 2023 and 2022 (see Note 13 — Equity-Based Compensation for additional information on all of the common share equivalents listed in the table below): December 31, 2024 2023 2022 Unvested RSUs (1) 950,936 85,518 45,725 Unvested Restricted Shares (2) 426,651 456,279 371,920 Unvested PSUs (3) 1,288,072 116,456 — Class A Units (4) — 35,233 — GNL LTIP Units (5) — — 2,500,000 Total common share equivalents excluded from EPS calculation 2,665,659 693,486 2,917,645 (1) There w ere 1,248,179, 535,768 and 47,723 unvested RSUs issued and outstanding as of December 31, 2024, 2023 and 2022 , respectively. (2) There were 334,642, 565,620 and 359,840 unvested Restricted Shares issued and outstanding as of December 31, 2024, 2023 and 2022, respectively. (3) There were 1,288,072 PSUs outstanding as of December 31, 2024 and 2023. (4) There were no Class A Units outstanding as of December 31, 2024 and 115,857 Class A Units outstanding as of December 31, 2023. (5) As disclosed in Note 13 — Equity-Based Compensation , the performance period under the 2021 OPP was accelerated and ended on September 11, 2023, and as a result, 883,750 GNL LTIP Units became earned and vested and Common Stock was issued for the vested GNL LTIP Units. There were no GNL LTIP Units issued and outstanding under the 2021 OPP as of December 31, 2024 and 2023 and there were 2,500,000 LTIP Units issued and outstanding under the 2021 OPP as of December 31, 2022. Conditionally issuable shares under the 2021 Equity Plan and the 2021 OPP award are required to be included in the computation of fully diluted EPS (if dilutive) based on shares that would be issued as if the balance sheet date were the end of the measurement period. • No PSU share equivalents were included in the computation for the years ended December 31, 2024 and 2023 since their impact was anti-dilutive. •

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting As a result of the Mergers and the related strategic shift in the Company’s operations, the Company has concluded it operates in four reportable segments consistent with its current management internal financial reporting purposes: (1) Industrial & Distribution (2) Multi-Tenant Retail (3) Single-Tenant Retail and (4) Office. The Company evaluates performance and makes resource allocations based on its four business segments. The Company is reporting its business segments using the “management approach” model for segment reporting, whereby the Company determines its reportable business segments based on the way the chief operating decision maker organizes business segments within the Company for making operating decisions and assessing financial performance. The Company’s chief operating decision maker, who is the Company’s Chief Executive Officer and President, receives and reviews financial information based on the Company's four segments. The Company evaluates business segment performance based upon net operating income, which is defined as total revenues from tenants, less property operating costs. The segments are managed separately due to the property type and the accounting policies are consistent across each segment. See below for a description of net operating income. Net Operating Income The Company evaluates the performance of the combined properties in each segment based on total revenues from tenants, less property operating costs. As such, this excludes all other items of expense and income included in the financial statements in calculating net income (loss). The Company uses net operating income at the segment level to assess and compare property level performance and to make decisions concerning the operation of the properties. The Company believes that the net operating income of each segment is useful as a performance measure because, when compared across periods, the net operating income of each segment reflects the impact on operations from trends in occupancy rates, rental rates, operating expenses and acquisition activity on an unleveraged basis, providing perspective not immediately apparent from net income (loss). The net operating income of each segment excludes certain components from net income (loss) in order to provide results that are more closely related to a property’s results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. The net operating income of the Company’s segments presented by the Company may not be comparable to similar measures reported by other REITs that define net operating income differently. The following table provides operating financial information for the Company’s four reportable segments: Year Ended December 31, (In thousands) 2024 2023 (1) 2022 (1) Industrial & Distribution: Revenue from tenants $ 237,645 $ 220,102 $ 211,533 Property operating expense 21,820 15,457 13,682 Net Operating Income $ 215,825 $ 204,645 $ 197,851 Multi-Tenant Retail: Revenue from tenants $ 259,280 $ 79,799 $ — Property operating expense 86,025 26,951 — Net Operating Income $ 173,255 $ 52,848 $ — Single-Tenant Retail: Revenue from tenants $ 164,514 $ 65,478 $ 17,170 Property operating expense 15,787 6,045 1,200 Net Operating Income $ 148,727 $ 59,433 $ 15,970 Office: Revenue from tenants $ 143,571 $ 149,691 $ 150,154 Property operating expense 18,865 19,386 17,995 Net Operating Income $ 124,706 $ 130,305 $ 132,159 ________ (1) Amounts in the Single-Tenant Retail segment and Office segment reflect changes to the reclassification of one tenant from the Office segment to the Single-Tenant Retail segment to conform to the current year presentation based on a re-evaluation of the property type. Reconciliation to Consolidated Financial Information A reconciliation of the total reportable segment's revenue from tenants to consolidated revenue from tenants and the total reportable segment’s income to consolidated net (loss) income attributable to common stockholders is as follows: Year Ended December 31, (In thousands) 2024 2023 (1) 2022 (1) Revenue From Tenants: Industrial & Distribution $ 237,645 $ 220,102 $ 211,533 Multi-Tenant Retail 259,280 79,799 — Single-Tenant Retail 164,514 65,478 17,170 Office 143,571 149,691 150,154 Total Consolidated Revenue From Tenants $ 805,010 $ 515,070 $ 378,857 Net loss before income tax and net loss attributable to common stockholders: Net Operating Income: Industrial & Distribution $ 215,825 $ 204,645 $ 197,851 Multi-Tenant Retail 173,255 52,848 — Single-Tenant Retail 148,727 59,433 15,970 Office 124,706 130,305 132,159 Total net operating income 662,513 447,231 345,980 Operating fees to related parties — (28,283) (40,122) Impairment charges (90,410) (68,684) (21,561) Merger, transaction and other costs (6,026) (54,492) (244) Settlement costs — (29,727) — General and administrative (57,734) (40,187) (17,737) Equity-based compensation (8,931) (17,297) (12,072) Depreciation and amortization (349,943) (222,271) (154,026) Gain (loss) on dispositions of real estate investments 57,015 (1,672) 325 Interest expense (326,932) (179,411) (97,510) Loss on extinguishment and modification of debt (15,877) (1,221) (2,040) Gain (loss) on derivative instruments 4,229 (3,691) 18,642 Unrealized gains on undesignated foreign currency advances and other hedge ineffectiveness 3,249 — 2,439 Other income 1,720 2,270 981 Net loss before income tax (127,127) (197,435) 23,055 Income tax expense (4,445) (14,475) (11,032) Net loss (131,572) (211,910) 12,023 Preferred stock dividends (43,744) (27,438) (20,386) Net loss attributable to common stockholders $ (175,316) $ (239,348) $ (8,363) ________ (1) Amounts in the Single-Tenant Retail segment and Office segment reflect changes to the reclassification of one tenant from the Office segment to the Single-Tenant Retail segment to conform to the current year presentation based on a re-evaluation of the property type. The following table reconciles real estate investments, net by segment to consolidated total assets as of the periods presented: December 31, (In thousands) 2024 2023 (2) Investments in real estate, net: Industrial & Distribution $ 2,180,309 $ 2,479,804 Multi-Tenant Retail 1,743,598 2,174,064 Single-Tenant Retail 1,400,271 1,740,347 Office 1,039,124 1,178,105 Total investments in real estate, net 6,363,302 7,572,320 Assets held for sale 17,406 3,188 Cash and cash equivalents 159,698 121,566 Restricted cash 64,510 40,833 Derivative assets, at fair value 2,471 10,615 Unbilled straight line rent 99,501 84,254 Operating lease right-of-use asset 74,270 77,008 Prepaid expenses and other assets 108,562 121,997 Deferred tax assets 4,866 4,808 Goodwill (1) 51,370 46,976 Deferred financing costs, net 9,808 15,412 Total assets $ 6,955,764 $ 8,098,977 ________ (1) In connection with the Company’s conclusion that it now operates in four reportable segments, the Company’s goodwill allocation by segment is as follows as of December 31, 2024: (1) Industrial & Distribution: $22.1 million; (2) Multi-Tenant Retail: $7.1 million; (3) Single-Tenant Retail: $7.9 million; and (4) Office: $14.2 million. (2) Amounts in the Single-Tenant Retail segment and Office segment reflect changes to the reclassification of one tenant from the Office segment to the Single-Tenant Retail segment to conform to the current year presentation based on a re-evaluation of the property type. Geographic Information Other than the U.S. and United Kingdom, no country or tenant individually comprised more than 10% of the Company’s annualized revenue from tenants on a straight-line basis, or total long-lived assets at December 31, 2024. The following tables present the geographic information for Revenue from tenants and Investments in real estate: Year Ended December 31, (In thousands) 2024 2023 2022 Revenue from tenants: United States $ 655,831 $ 365,092 $ 234,363 United Kingdom 84,678 86,916 78,403 Europe 61,322 59,823 62,852 Canada 3,179 3,239 3,239 Total $ 805,010 $ 515,070 $ 378,857 December 31, (In thousands) 2024 2023 Investments in real estate, gross: United States $ 6,137,882 $ 7,082,979 United Kingdom 799,624 903,816 Europe 554,133 629,988 Canada 36,292 39,361 Total $ 7,527,931 $ 8,656,144 Acquired Intangible Liabilities, Gross United States $ 91,936 $ 101,342 United Kingdom 5,279 5,698 Europe 10,669 12,961 Canada 19 21 Total $ 107,903 $ 120,022

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income tax expense for the periods presented are as follows: Year Ended December 31, (In thousands) 2024 2023 2022 Net (Loss) Income Before Income Tax: Domestic $ (123,188) $ (118,447) $ 64,592 Foreign (3,939) (78,988) (41,537) Total net (loss) income before tax $ (127,127) $ (197,435) $ 23,055 Income Taxes: Current: State and Local $ 134 $ 199 $ 175 Foreign 4,569 16,656 12,814 Total income taxes, current 4,703 16,855 12,989 Deferred: State and Local — — — Foreign (258) (2,380) (1,957) Total income taxes, deferred (258) (2,380) (1,957) Total Income Tax Expense $ 4,445 $ 14,475 $ 11,032 A reconciliation of effective income tax for the periods presented are as follows: Year Ended December 31, (In thousands) 2024 2023 2022 Net (loss) income before income tax $ (127,127) $ (197,435) $ 23,055 Tax (benefit) provision at statutory rates $ (26,651) $ (41,461) $ 4,842 Foreign rate differential (295) 1,139 (730) Foreign financing activities 7,721 11,047 11,320 Tax adjustments related to REIT 25,871 24,874 (13,565) Deferred tax assets generated in the current year added to valuation allowance (1,388) 5,949 9,297 Other (813) 12,927 (132) Total income tax expense $ 4,445 $ 14,475 $ 11,032 Deferred Income Taxes Deferred income taxes as of the periods presented consists of the following: December 31, (In thousands) 2024 2023 Deferred Tax Assets Basis differences $ 14,924 $ 11,278 Net operating loss carryforwards 3,205 5,028 Total deferred tax assets 18,129 16,306 Valuation allowance (13,263) (11,498) Net deferred tax assets 4,866 4,808 Deferred Tax Liabilities Basis differences (4,170) (4,552) Straight-line rent (1,307) (1,457) Total deferred tax liabilities (5,477) (6,009) Net Deferred Tax Liability $ (611) $ (1,201) The Company’s deferred tax assets and liabilities are primarily the result of temporary differences related to the following: • Basis differences between tax and 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 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 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.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
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 as disclosed in the applicable footnotes and below. Dispositions The Company disposed of 13 properties subsequent to December 31, 2024 for an aggregate price of approximately $19.2 million. Pending Transactions RCG Multi-Tenant Retail Disposition On February 25, 2025, the Company through certain of its subsidiaries, entered into a Purchase and Sale Agreement (“RCG PSA”) with RCG Ventures Holdings, LLC (“RCG”) to sell a real estate portfolio comprised of 100 multi-tenant retail centers located in 28 states for a base purchase price of approximately $1.78 billion, subject to customary purchase price adjustments (the “RCG Multi-Tenant Retail Disposition”). The closing of the RCG Multi-Tenant Retail Disposition is subject to a number of customary conditions, including, but not limited to, with respect to 41 of the multi-tenant retail centers, the consent of certain of the Company’s existing lenders for RCG to assume the following debt secured by such properties: (a) approximately $210.0 million secured from Société Générale and UBS AG, and (b) approximately $260.0 million secured from Barclays Capital Real Estate Inc., Société Générale, KeyBank and Bank of Montreal. The closing of the disposition of the other 59 facilities is not contingent upon assumption of such debt and the closing is not otherwise subject to any financing contingency. The Company received a $25.0 million non-refundable deposit from RCG in connection with entering into RCG PSA. The RCG Multi-Tenant Retail Disposition is expected to close in three phases: the unencumbered portfolio is scheduled to close by March 31, 2025, while the encumbered portfolio is scheduled to close in two stages during the second quarter of 2025, pending approval of the respective loan assumptions. Share Repurchase Program On February 20, 2025, the Board authorized a stock buyback program for up to an aggregate amount of $300.0 million of shares of Common Stock. Under the program, which does not have a stated expiration date, the Company may repurchase shares of Common Stock from time to time through open market purchases, including pursuant to Rule 10b5-1 pre-set trading plans and under Rule 10b-18 of the Exchange Act, privately negotiated transactions, accelerated share repurchase transactions entered into with one or more counterparties or otherwise, in compliance with applicable securities laws and other legal requirements. The timing, volume, and nature of repurchases are subject to market conditions, applicable securities laws, and other factors, and the program may be amended, suspended or discontinued at any time. The program does not obligate the Company to repurchase any specific number of shares of Common Stock.

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation Schedule III	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation Schedule III	Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) McDonald's Corporation Carlisle United Kingdom Oct. 2012 $ — $ 402 $ 764 $ — $ — 1,166 $ 232 Wickes Blackpool United Kingdom May. 2013 — 1,692 1,690 — — 3,382 723 Everything Everywhere Merthyr Tydfil United Kingdom Jun. 2013 — 3,447 1,996 — — 5,443 769 Thames Water Swindon United Kingdom Jul. 2013 — 3,447 3,696 — 12 7,155 1,407 Wickes Tunstall United Kingdom Jul. 2013 — 878 1,865 — — 2,743 780 PPD Global Labs Highland Heights KY Aug. 2013 — (9) 2,001 5,162 — — 7,163 1,774 Northern Rock Sunderland United Kingdom Sep. 2013 — 1,254 3,993 — — 5,247 1,504 Wickes Clifton United Kingdom Nov. 2013 — 1,254 1,632 — — 2,886 668 XPO Logistics Freight, Inc. Aurora NE Nov. 2013 — (10) 295 1,470 — — 1,765 685 XPO Logistics Freight, Inc. Grand Rapids MI Nov. 2013 — (10) 945 1,247 — — 2,192 581 XPO Logistics Freight, Inc. Riverton IL Nov. 2013 — (10) 344 707 — — 1,051 330 XPO Logistics Freight, Inc. Salina KS Nov. 2013 — (10) 461 1,622 — — 2,083 756 XPO Logistics Freight, Inc. Uhrichsville OH Nov. 2013 — (10) 380 780 — — 1,160 363 XPO Logistics Freight, Inc. Vincennes IN Nov. 2013 — (10) 220 633 — — 853 306 XPO Logistics Freight, Inc. Waite Park MN Nov. 2013 — (10) 366 700 — — 1,066 325 Wolverine Howard City MI Dec. 2013 — (10) 719 12,027 — — 12,746 5,562 Rheinmetall Neuss Germany Jan. 2014 — 5,341 14,995 — 67 20,403 4,510 GE Aviation Grand Rapids MI Jan. 2014 — (7) 3,174 27,076 — 203 30,453 7,991 Provident Financial Bradford United Kingdom Feb. 2014 — 1,264 23,458 — — 24,722 6,527 Crown Crest Leicester United Kingdom Feb. 2014 — 7,204 29,750 — — 36,954 9,431 Trane Davenport IA Feb. 2014 — 291 1,968 — — 2,259 698 Aviva Sheffield United Kingdom Mar. 2014 — 2,723 30,863 — — 33,586 8,799 DFS Trading Brigg United Kingdom Mar. 2014 — 1,272 3,608 — — 4,880 1,163 DFS Trading Carcroft United Kingdom Mar. 2014 — 290 2,085 — — 2,375 707 DFS Trading Carcroft United Kingdom Mar. 2014 — 1,070 4,237 — — 5,307 1,264 DFS Trading Darley Dale United Kingdom Mar. 2014 — 1,252 3,213 — — 4,465 1,058 DFS Trading Somercotes United Kingdom Mar. 2014 — 736 2,626 — — 3,362 1,018 Government Services Administration (GSA) Franklin TN Mar. 2014 — 4,160 30,083 — 561 34,804 8,696 National Oilwell Williston ND Mar. 2014 — 211 3,513 — — 3,724 1,356 Government Services Administration (GSA) Dover DE Apr. 2014 — 1,097 1,715 — 690 3,502 583 Government Services Administration (GSA) Germantown PA Apr. 2014 — 1,097 3,573 — 553 5,223 1,561 OBI DIY Mayen Germany Apr. 2014 — 1,164 6,947 — 177 8,288 2,270 DFS Trading South Yorkshire United Kingdom Apr. 2014 — — 1,310 — — 1,310 566 DFS Trading Yorkshire United Kingdom Apr. 2014 — — 1,708 — — 1,708 495 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Government Services Administration (GSA) Dallas TX Apr. 2014 — 484 2,934 — — 3,418 839 Government Services Administration (GSA) Mission TX Apr. 2014 — 618 3,145 — 251 4,014 1,064 Government Services Administration (GSA) International Falls MN May. 2014 — (7) 350 11,182 — 63 11,595 3,301 Indiana Department of Revenue Indianapolis IN May. 2014 — 891 7,677 — 433 9,001 2,348 National Oilwell Pleasanton TX May. 2014 — 202 1,643 — — 1,845 598 Nissan Murfreesboro TN May. 2014 — (7) 966 19,573 — — 20,539 5,432 Government Services Administration (GSA) Lakewood CO Jun. 2014 — 1,220 7,928 — 155 9,303 2,224 Lippert Components South Bend IN Jun. 2014 — (7) 3,195 6,883 — — 10,078 1,957 Axon Energy Products Houston TX Jun. 2014 — 294 2,310 — — 2,604 693 Axon Energy Products Houston TX Jun. 2014 — 416 5,186 — — 5,602 1,508 Bell Supply Co Carrizo Springs TX Jun. 2014 — 260 1,445 — — 1,705 499 Bell Supply Co Cleburne TX Jun. 2014 — 301 323 — — 624 124 Bell Supply Co Frierson LA Jun. 2014 — 260 1,054 — — 1,314 504 Bell Supply Co Gainesville TX Jun. 2014 — 131 1,420 — — 1,551 414 Bell Supply Co Killdeer ND Jun. 2014 — 307 1,250 — — 1,557 421 Bell Supply Co Williston ND Jun. 2014 — 162 2,323 — — 2,485 705 GE Oil & Gas Canton OH Jun. 2014 — 437 3,039 — 300 3,776 1,038 GE Oil & Gas Odessa TX Jun. 2014 — 1,611 3,322 — — 4,933 1,803 Lhoist Irving TX Jun. 2014 — 173 2,154 — 125 2,452 788 Select Energy Services DeBerry TX Jun. 2014 — 533 7,551 — — 8,084 3,490 Select Energy Services Gainesville TX Jun. 2014 — 519 7,482 — — 8,001 2,051 Select Energy Services Victoria TX Jun. 2014 — 354 1,698 — — 2,052 610 Bell Supply Co Jacksboro TX Jun. 2014 — 51 657 — — 708 315 Bell Supply Co Kenedy TX Jun. 2014 — 190 1,669 — — 1,859 632 Select Energy Services Alice TX Jun. 2014 — 518 1,331 — — 1,849 433 Select Energy Services Dilley TX Jun. 2014 — 429 1,777 — — 2,206 681 Select Energy Services Kenedy TX Jun. 2014 — 815 8,355 — — 9,170 2,746 Select Energy Services Laredo TX Jun. 2014 — 2,472 944 — — 3,416 460 Superior Energy Services Gainesville TX Jun. 2014 — 322 480 — — 802 143 Superior Energy Services Jacksboro TX Jun. 2014 — 408 312 — — 720 127 Amcor Packaging Workington United Kingdom Jun. 2014 — 1,091 6,433 — — 7,524 2,183 Government Services Administration (GSA) Raton NM Jun. 2014 — 93 875 — — 968 271 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Nimble storage San Jose CA Jun. 2014 — (9) 30,227 10,795 — 180 41,202 3,141 FedEx Amarillo TX Jul. 2014 — 889 6,446 — — 7,335 2,201 FedEx Chicopee MA Jul. 2014 — 1,030 7,022 — 2,087 10,139 3,565 FedEx San Antonio TX Jul. 2014 — (10) 3,283 17,756 — 598 21,637 5,039 Sandoz Princeton NJ Jul. 2014 — (7) 7,766 31,994 — 12,091 51,851 18,712 Wyndham Branson MO Jul. 2014 — 881 3,307 — — 4,188 992 Government Services Administration (GSA) Fort Fairfield ME Jul. 2014 — 26 9,315 — — 9,341 2,477 AT&T Services, Inc. San Antonio TX Jul. 2014 — (11) 5,312 41,201 — — 46,513 10,839 PNC Bank Erie PA Jul. 2014 — (9) 242 6,195 — — 6,437 1,664 PNC Bank Scranton PA Jul. 2014 — (7) 1,324 3,004 — — 4,328 827 Continental Tire Fort Mill SC Jul. 2014 — 780 14,259 — — 15,039 3,821 Fujitsu Office Properties Manchester United Kingdom Jul. 2014 — 3,540 38,320 — 2,296 44,156 10,428 BP Oil Wootton Bassett United Kingdom Aug. 2014 — 574 2,482 — — 3,056 718 HBOS Derby United Kingdom Aug. 2014 — 576 5,804 (330) (4,065) 1,985 — HBOS St. Helens United Kingdom Aug. 2014 — 218 3,289 (125) (2,309) 1,073 — HBOS Warrington United Kingdom Aug. 2014 — 417 1,965 — — 2,382 638 Malthurst Shiptonthorpe United Kingdom Aug. 2014 — 264 1,878 — — 2,142 598 Malthurst Yorkshire United Kingdom Aug. 2014 — 469 1,229 — — 1,698 513 Stanley Black & Decker Westerville OH Aug. 2014 — 958 6,933 — 4,410 12,301 2,673 Capgemini Birmingham United Kingdom Aug. 2014 — 1,560 14,794 — 4,806 21,160 4,914 Merck Madison NJ Aug. 2014 — (7) 10,290 32,530 — — 42,820 8,573 Government Services Administration (GSA) Rangeley ME Aug. 2014 — 1,377 4,746 — 1,104 7,227 1,640 Hewlett-Packard Newcastle United Kingdom Sep. 2014 — 1,078 17,946 — — 19,024 4,878 Intier Automotive Redditch United Kingdom Sep. 2014 — 1,113 8,813 — — 9,926 2,665 Waste Management Winston-Salem NC Sep. 2014 — 494 3,235 — — 3,729 900 Dollar General Allen OK Sep. 2014 — 99 793 — — 892 231 Dollar General Cherokee KS Sep. 2014 — 27 769 — — 796 227 Dollar General Clearwater KS Sep. 2014 — 90 785 — — 875 231 Dollar General Dexter NM Sep. 2014 — 329 585 — — 914 172 Dollar General Elmore City OK Sep. 2014 — 21 742 — — 763 222 Dollar General Eunice NM Sep. 2014 — 269 569 — — 838 170 Dollar General Gore OK Sep. 2014 — 143 813 — — 956 240 Dollar General Kingston OK Sep. 2014 — 81 778 — — 859 231 Dollar General Lordsburg NM Sep. 2014 — 212 719 — — 931 211 Dollar General Lyons KS Sep. 2014 — 120 970 — — 1,090 282 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Dollar General Mansfield LA Sep. 2014 — 169 812 — — 981 238 Dollar General Neligh NE Sep. 2014 — 83 1,045 — — 1,128 297 Dollar General Norman OK Sep. 2014 — 40 913 — — 953 267 Dollar General Peggs OK Sep. 2014 — 72 879 — — 951 257 Dollar General Santa Rosa NM Sep. 2014 — 324 575 — — 899 170 Dollar General Sapulpa OK Sep. 2014 — 143 745 — — 888 224 Dollar General Schuyler NE Sep. 2014 — 144 905 — — 1,049 260 Dollar General Tahlequah OK Sep. 2014 — 132 925 — — 1,057 268 Dollar General Townville PA Sep. 2014 — 78 882 — — 960 272 Dollar General Valley Falls KS Sep. 2014 — 51 922 — — 973 262 Dollar General Wymore NE Sep. 2014 — 21 872 — — 893 253 FedEx Bohemia NY Sep. 2014 — (7) 4,838 19,596 — 1,065 25,499 5,895 FedEx Watertown NY Sep. 2014 — 561 4,757 — — 5,318 1,481 Shaw Aero Naples FL Sep. 2014 — (17) 998 22,332 — 900 24,230 6,083 Mallinckrodt St. Louis MO Sep. 2014 — (9) 1,499 16,828 — — 18,327 4,533 Kuka Warehouse Sterling Heights MI Sep. 2014 — (17) 1,227 10,790 — — 12,017 2,906 Trinity Health Livonia MI Sep. 2014 — 4,273 16,574 — 11,400 32,247 7,008 FedEx Hebron KY Sep. 2014 — 1,106 7,750 — 338 9,194 2,265 FedEx Lexington KY Sep. 2014 — (17) 1,118 7,961 — — 9,079 2,235 DNV GL Dublin OH Oct. 2014 — 2,509 3,140 — 541 6,190 988 Rexam Reckinghausen Germany Oct. 2014 — 732 10,309 — — 11,041 2,786 FedEx Lake Charles LA Oct. 2014 — (11) 255 7,485 — 572 8,312 2,530 Onguard Havre De Grace MD Oct. 2014 — (17) 2,216 6,585 — 1,624 10,425 2,785 Metro Tonic Halle Peissen Germany Oct. 2014 — 6,312 44,223 — — 50,535 13,239 Tokmanni Matsala Finland Nov. 2014 — (6) 1,636 49,508 — — 51,144 13,965 Government Services Administration (GSA) Rapid City SD Nov. 2014 — 504 7,837 — — 8,341 2,156 KPN BV Houten Netherlands Nov. 2014 — 1,464 17,916 — — 19,380 4,624 Follett School McHenry IL Dec. 2014 — (17) 3,423 15,600 — 2,307 21,330 5,128 Weatherford International Odessa TX Dec. 2014 — (9) 665 1,795 — — 2,460 799 AM Castle Wichita KS Dec. 2014 — (17) 426 6,681 — 509 7,616 1,860 FedEx Billerica MA Dec. 2014 — 1,138 6,674 — 1,024 8,836 2,369 Constellium Auto Van Buren MI Dec. 2014 — (7) 1,180 13,781 — 7,875 22,836 9,035 C & J Energy Houston TX Mar. 2015 — 6,196 21,745 — — 27,941 5,572 FedEx Salina UT Mar. 2015 — 428 3,447 — — 3,875 1,259 FedEx Pierre SD Apr. 2015 — — 3,288 — — 3,288 1,155 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Crowne Group Fraser MI Aug. 2015 — 350 3,865 — — 4,215 1,007 Crowne Group Jonesville MI Aug. 2015 — 101 3,136 — — 3,237 841 Crowne Group Logansport IN Aug. 2015 — 1,843 5,430 — — 7,273 1,657 Crowne Group Marion SC Aug. 2015 — 386 7,993 — — 8,379 2,227 JIT Steel Chattanooga TN Sep. 2015 — 582 3,122 — — 3,704 771 JIT Steel Chattanooga TN Sep. 2015 — 316 1,986 — — 2,302 479 Mapes & Sprowl Elk Grove Village IL Sep. 2015 — (10) 954 4,619 — — 5,573 1,175 National Oilwell Pleasanton TX Sep. 2015 — 80 3,372 — — 3,452 910 Office Depot Venlo Netherlands Sep. 2015 — 3,239 14,326 — — 17,565 4,013 Finnair Helinski Finland Sep. 2015 — (6) 2,337 66,609 — — 68,946 16,744 Hannibal Houston TX Sep. 2015 — (17) 2,090 11,138 — — 13,228 2,713 FedEx Mankato MN Sep. 2015 — 472 6,780 — — 7,252 2,118 Auchan Beychac-et-Caillau France Dec. 2016 — 3,761 12,232 — 5,267 21,260 3,774 DCNS Guipavas France Dec. 2016 — 1,755 13,315 — — 15,070 2,947 Deutsche Bank Kirchberg Luxembourg Dec. 2016 — 13,417 45,635 — 715 59,767 9,507 FedEx Greensboro NC Dec. 2016 — 1,820 8,252 — — 10,072 2,295 Harper Collins Glasgow United Kingdom Dec. 2016 — 9,904 50,590 — — 60,494 11,224 ID Logistics Landersheim France Dec. 2016 — 1,790 7,522 — — 9,312 1,645 ID Logistics Moreuil France Dec. 2016 — 2,763 5,588 — — 8,351 1,285 ID Logistics Weilbach Germany Dec. 2016 — 1,237 8,174 — — 9,411 1,707 ING Bank Amsterdam Zuidoos Netherlands Dec. 2016 — — 67,641 — 2,532 70,173 14,037 NCR Financial Solutions Group Dundee United Kingdom Dec. 2016 — 2,520 8,061 — — 10,581 2,009 Pole Emploi Marseille France Dec. 2016 — 741 7,807 — 91 8,639 1,597 Worldline SA Blois France Dec. 2016 — 1,049 4,994 — — 6,043 1,406 Cott Beverages Sikeston MO Feb. 2017 — (17) 456 8,291 — 147 8,894 1,747 FedEx Great Falls MT Mar. 2017 — (9) 326 5,439 — — 5,765 1,529 FedEx Morgantown WV Mar. 2017 — (7) 4,661 8,401 — — 13,062 1,864 Bridgestone Tire Mt. Olive Twp NJ Sep. 2017 — (8) 916 5,088 — — 6,004 1,023 NSA Industries St. Johnsbury VT Oct. 2017 — (8) 210 1,753 — — 1,963 368 NSA Industries St. Johnsbury VT Oct. 2017 — (8) 300 3,936 — 491 4,727 1,079 NSA Industries St. Johnsbury VT Oct. 2017 — (8) 270 3,858 — — 4,128 822 GKN Aerospace Blue Ash OH Oct. 2017 — (8) 790 4,079 — — 4,869 844 Tremec Wixom MI Nov. 2017 — (8) 1,002 17,376 — — 18,378 3,613 NSA Industries Groveton NH Dec. 2017 — (8) 59 3,517 — — 3,576 633 Cummins Omaha NE Dec. 2017 — (8) 1,448 6,469 — — 7,917 1,418 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Government Services Administration (GSA) Gainsville FL Dec. 2017 — 451 6,016 — 53 6,520 1,117 Chemours Pass Christian MS Feb. 2018 — (10) 382 16,149 — — 16,531 3,351 Lee Steel Wyoming MI Mar. 2018 — 504 7,256 — — 7,760 1,284 LSI Steel Chicago IL Mar. 2018 — 3,341 1,181 (1,228) (566) 2,728 — LSI Steel Chicago IL Mar. 2018 — 1,792 5,615 — — 7,407 953 LSI Steel Chicago IL Mar. 2018 — 2,856 948 — — 3,804 182 Fiat Chrysler Sterling Heights MI Mar. 2018 — 1,855 13,623 — — 15,478 2,769 Contractors Steel Belleville MI May. 2018 — 2,862 25,878 — 6,296 35,036 6,584 Contractors Steel Hammond IN May. 2018 — 1,970 8,859 — — 10,829 1,883 Contractors Steel Livonia MI May. 2018 — 933 8,554 — 1,357 10,844 2,255 Contractors Steel Twinsburg OH May. 2018 — 729 8,707 — 2,500 11,936 3,009 Contractors Steel Wyoming MI May. 2018 — 970 12,426 — 1,232 14,628 2,961 FedEx Blackfoot ID Jun. 2018 — (10) 350 6,882 — — 7,232 2,067 DuPont Pioneer Spencer IA Jun. 2018 — 273 6,718 — 607 7,598 1,490 Rubbermaid Akron OH Jul. 2018 — (10) 1,221 17,145 — — 18,366 2,827 NetScout Allen TX Aug. 2018 — (9) 2,115 41,486 — — 43,601 6,756 Bush Industries Jamestown NY Sep. 2018 — (10) 1,535 14,818 — — 16,353 2,504 FedEx Greenville NC Sep. 2018 — (10) 581 9,744 — — 10,325 3,079 Penske Romulus MI Nov. 2018 70,000 4,701 105,826 — 163 110,690 17,559 NSA Industries Georgetown MA Nov. 2018 — 1,100 6,059 — 1,198 8,357 1,525 LKQ Corp. Cullman AL Dec. 2018 — 61 3,781 — — 3,842 651 Grupo Antolin North America, Inc. Shelby Township MI Dec. 2018 — (17) 1,941 41,648 — — 43,589 6,921 Walgreens Pittsburgh PA Dec. 2018 — (17) 1,701 13,718 — — 15,419 2,305 VersaFlex Kansas City KS Dec. 2018 — (17) 519 7,581 — — 8,100 1,184 Cummins Gillette WY Mar. 2019 — (11) 1,197 5,470 — 516 7,183 1,108 Stanley Security Fishers IN Mar. 2019 — (11) 1,246 11,879 — — 13,125 1,882 Sierra Nevada Corp. Colorado Springs CO Apr. 2019 — — 16,105 — — 16,105 2,514 EQT Corp. Waynesburg PA Apr. 2019 — (11) 875 11,126 — — 12,001 1,866 Hanes Calhoun GA Apr. 2019 — (11) 731 8,104 — — 8,835 1,454 Union Partners Aurora IL May. 2019 — 929 11,621 — — 12,550 1,751 Union Partners Dearborn MI May. 2019 — (11) 3,028 11,645 — — 14,673 1,835 ComDoc North Canton OH Jun. 2019 — (11) 602 15,128 — — 15,730 2,471 Metal Technologies Bloomfield IN Jun. 2019 — (11) 277 9,552 — — 9,829 1,626 Encompass Health Birmingham AL Jun. 2019 — (11) 1,746 55,568 — — 57,314 7,761 Heatcraft Tifton GA Jun. 2019 — (11) 346 9,064 — — 9,410 1,269 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) CF Sauer SLB Mauldin SC Aug. 2019 — (17) 40 343 — — 383 55 CF Sauer SLB Mauldin SC Aug. 2019 — (17) 232 15,488 — — 15,720 2,243 CF Sauer SLB Mauldin SC Aug. 2019 — (17) 348 4,747 — — 5,095 840 CF Sauer SLB Mauldin SC Aug. 2019 — (17) 190 9,488 — — 9,678 1,371 CF Sauer SLB Orlando FL Aug. 2019 — (17) 237 351 — — 588 68 CF Sauer SLB San Luis Obispo CA Aug. 2019 — (17) 2,201 12,884 — — 15,085 1,937 SWECO Florence KY Sep. 2019 — 2,080 21,924 — — 24,004 3,561 Viavi Solutions Santa Rosa CA Sep. 2019 — 3,061 5,929 — 2,358 11,348 1,513 Viavi Solutions Santa Rosa CA Sep. 2019 — 3,073 7,130 — 2,171 12,374 1,654 Faurecia Auburn Hills MI Dec. 2019 — 3,310 38,278 — 2,055 43,643 6,387 Plasma Garland TX Dec. 2019 — 595 2,421 — — 3,016 397 Plasma El Paso TX Dec. 2019 — 72 2,478 — — 2,550 317 Plasma Bradenton FL Dec. 2019 — 185 3,747 — — 3,932 507 Plasma Hickory NC Dec. 2019 — 494 3,702 — — 4,196 522 Plasma Lake Charles LA Dec. 2019 — 301 1,730 — — 2,031 258 Plasma Mission TX Dec. 2019 — 275 1,735 — — 2,010 249 Plasma Meridian MS Dec. 2019 — 203 2,965 — — 3,168 422 Plasma Peoria IL Dec. 2019 — 206 2,578 — — 2,784 348 Whirlpool Cleveland TN Dec. 2019 — 2,230 20,923 — — 23,153 3,125 Whirlpool Clyde OH Dec. 2019 — 1,641 20,072 — — 21,713 2,915 Whirlpool Clyde OH Dec. 2019 — 3,559 17,283 — — 20,842 2,944 Whirlpool Findlay OH Dec. 2019 — 1,344 22,624 — — 23,968 3,086 Whirlpool Marion OH Dec. 2019 — 1,876 27,850 — — 29,726 3,844 Whirlpool Ottawa OH Dec. 2019 — 3,155 19,919 — 23,628 46,702 5,103 FedEx Bathurst Canada Dec. 2019 — 35 1,997 — — 2,032 400 FedEx Woodstock Canada Dec. 2019 — 389 3,494 — — 3,883 592 NSA Industries Franklin NH Dec. 2019 — 237 7,968 (3) 6,006 14,208 1,734 Viavi Santa Rosa CA Jan. 2020 — 3,209 4,203 — 1,482 8,894 1,093 CSTK St. Louis MO Feb. 2020 — (17) 3,405 8,155 — — 11,560 1,386 Metal Technologies Bloomfield IN Feb. 2020 — 167 1,034 — — 1,201 174 Whirlpool Fabriano ITA Feb. 2020 — 223 5,271 — — 5,494 647 Whirlpool Fabriano ITA Feb. 2020 — 2,603 15,067 — — 17,670 2,021 FedEx Moncton Canada Mar. 2020 — 275 2,740 — — 3,015 422 Klaussner Asheboro NC Mar. 2020 — 4,102 10,420 — — 14,522 1,433 Klaussner Candor NC Mar. 2020 — 1,705 9,528 (228) (1,153) 9,852 1,175 Plasma Danville VA May. 2020 — 434 2,209 — — 2,643 299 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Plasma Des Moines IA May. 2020 — 254 2,827 — — 3,081 350 Plasma Youngstown OH May. 2020 — 41 4,600 — — 4,641 543 Plasma Dayton OH May. 2020 — 61 1,796 — — 1,857 219 Klaussner Asheboro NC Jun. 2020 — 2,438 3,025 — — 5,463 359 NSA Industries Franklin NH Jun. 2020 — 161 2,857 — — 3,018 414 Johnson Controls Manchester United Kingdom Sep. 2020 — — 9,923 — — 9,923 1,131 Johnson Controls Manchester United Kingdom Sep. 2020 — — 1,389 — — 1,389 189 Broadridge Financial Solutions El Dorado Hills CA Nov. 2020 — 5,524 47,050 — — 52,574 5,366 Broadridge Financial Solutions Kansas City MO Nov. 2020 — 5,731 27,736 — — 33,467 3,088 Broadridge Financial Solutions South Windsor CT Nov. 2020 — 6,473 32,490 — — 38,963 3,974 Broadridge Financial Solutions Falconer NY Nov. 2020 — 355 16,492 — — 16,847 1,794 ZF Active Safety Findlay OH Dec. 2020 — (17) 1,231 21,410 — — 22,641 2,374 Johnson Controls Montigny-Le-Bretonneux France Dec. 2020 — 1,014 2,669 — — 3,683 284 FCA USA Detroit MI Dec. 2020 — (17) 5,125 95,485 973 564 102,147 10,299 Momentum Manufacturing Group Amherst NH Apr. 2021 — 498 5,233 — — 5,731 559 Cameron International Pearsall TX Apr. 2021 — 298 6,356 — — 6,654 765 McLaren Woking United Kingdom Apr. 2021 — 12,629 129,932 — — 142,561 12,354 McLaren Woking United Kingdom Apr. 2021 — 8,942 52,419 — — 61,361 5,215 Trafalgar Court St. Peter Port Channel Islands Sep. 2021 — 11,271 53,838 — 81 65,190 4,523 Walmart Inc. Bentonville AR Oct. 2021 — 4,358 33,231 — — 37,589 3,014 Pilot Point Steel Hallettsville TX Oct. 2021 — 386 3,085 — — 3,471 406 Pilot Point Steel Pilot Point TX Oct. 2021 — 854 7,184 — — 8,038 738 Promess Incorporated Brighton MI Dec. 2021 — 299 6,170 — — 6,469 513 Promess Incorporated Brighton MI Dec. 2021 — 278 1,824 — — 2,102 170 Promess Incorporated Brighton MI Dec. 2021 — 288 1,758 — — 2,046 152 Thetford Corporation Ann Arbor MI Dec. 2021 — 1,353 8,197 — — 9,550 755 Thetford Corporation Dexter MI Dec. 2021 — 3,307 10,248 — — 13,555 927 Thetford Corporation Mishawaka IN Dec. 2021 — 616 4,659 — — 5,275 425 PFB America Corporation Blissfield MI Dec. 2021 — 219 2,121 — — 2,340 206 PFB America Corporation Blissfield MI Dec. 2021 — 118 651 — — 769 60 PFB America Corporation Lebanon OH Dec. 2021 — 398 4,718 — — 5,116 392 PFB America Corporation Lester Prairie MN Dec. 2021 — 448 5,817 — — 6,265 491 Plasti-Fab Ltd Crossfield Canada Dec. 2021 — 800 5,154 — — 5,954 442 Plasti-Fab Ltd Crossfield Canada Dec. 2021 — 2,079 4,277 — — 6,356 393 Plasti-Fab Ltd Kitchener Canada Dec. 2021 — 2,885 6,687 — — 9,572 532 Plasti-Fab Ltd Winnipeg Canada Dec. 2021 — 959 315 — — 1,274 33 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Thetford Corporation Etten-Leur Netherlands Dec. 2021 — 3,617 14,688 — — 18,305 1,264 Executive Mailing Service Palos Hills IL Apr. 2022 — 2,061 9,339 (566) (2,992) 7,842 44 Caledonia House Glasgow United Kingdom May. 2022 — 1,507 11,261 — — 12,768 797 Momentum Manufacturing Group Georgetown MA Jun. 2022 — 610 5,349 — — 5,959 358 Wallgreens Boots Alliance Inc. Coventry United Kingdom Jan. 2023 — — 3,340 — — 3,340 160 Wallgreens Boots Alliance Inc. Stortford United Kingdom Jan. 2023 — 468 1,680 — — 2,148 80 Wallgreens Boots Alliance Inc. ` United Kingdom Jan. 2023 — 816 2,793 — — 3,609 134 Wallgreens Boots Alliance Inc. Southhampton United Kingdom Jan. 2023 — 1,663 3,709 — — 5,372 179 Wallgreens Boots Alliance Inc. Poole United Kingdom Jan. 2023 — — 4,435 — — 4,435 213 Wallgreens Boots Alliance Inc. Taunton United Kingdom Jan. 2023 — 499 3,355 — — 3,854 162 Wallgreens Boots Alliance Inc. Glouchester United Kingdom Jan. 2023 — 363 5,344 — — 5,707 258 Wallgreens Boots Alliance Inc. Tunbrdige Wells United Kingdom Jan. 2023 — 1,027 5,926 — — 6,953 284 Dollar General I Mission TX Sep. 2023 (13) 250 654 — — 904 26 Dollar General I Sullivan MO Sep. 2023 (13) 260 663 — — 923 26 Walgreens I Pine Bluff AR Sep. 2023 (12) 840 2,014 — — 2,854 79 Dollar General II Bogalusa LA Sep. 2023 (13) 280 688 — — 968 27 Dollar General II Donaldsonville LA Sep. 2023 (13) 260 614 — — 874 24 AutoZone I Cut Off LA Sep. 2023 (13) 330 858 — — 1,188 34 Dollar General III Athens MI Sep. 2023 (13) 250 654 — — 904 26 Dollar General III Fowler MI Sep. 2023 (13) 260 651 — — 911 26 Dollar General III Hudson MI Sep. 2023 (13) 270 671 — — 941 26 Dollar General III Muskegon MI Sep. 2023 (13) 290 620 — — 910 25 Dollar General III Reese MI Sep. 2023 (13) 260 650 — — 910 26 BSFS I Fort Myers FL Sep. 2023 (13) 800 2,255 — — 3,055 87 Dollar General IV Bainbridge GA Sep. 2023 (13) 250 559 — — 809 22 Dollar General IV Vanleer TN Sep. 2023 (13) 230 552 — — 782 22 Tractor Supply I Vernon CT Sep. 2023 (13) 950 3,016 — — 3,966 117 Dollar General V Meraux LA Sep. 2023 (13) 520 1,326 — — 1,846 52 Mattress Firm I Tallahassee FL Sep. 2023 510 1,355 — — 1,865 53 Lowe's I Fayetteville NC Sep. 2023 (13) — 10,178 — — 10,178 383 Lowe's I Macon GA Sep. 2023 (13) — 12,230 — — 12,230 459 Lowe's I New Bern NC Sep. 2023 (13) 3,050 6,794 — — 9,844 275 Lowe's I Rocky Mount NC Sep. 2023 (13) 3,260 7,390 — — 10,650 297 O'Reilly Auto Parts I Manitowoc WI Sep. 2023 (13) 220 631 — — 851 26 Food Lion I Charlotte NC Sep. 2023 (13) 1,660 5,890 — — 7,550 229 Lowe's I Aiken SC Sep. 2023 (13) — 6,963 — — 6,963 272 Dollar General VII Gasburg VA Sep. 2023 (13) 270 717 — — 987 28 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Dollar General VI Natalbany LA Sep. 2023 (13) 320 844 — — 1,164 33 Walgreens II Tucker GA Sep. 2023 (13) — 3,963 — — 3,963 147 Family Dollar III Challis ID Sep. 2023 (13) 280 663 — — 943 26 Chili's I Lake Jackson TX Sep. 2023 (13) 600 1,586 — — 2,186 62 Chili's I Victoria TX Sep. 2023 (13) 680 1,703 — — 2,383 67 CVS I Anniston AL Sep. 2023 (13) 580 1,621 — — 2,201 63 Tire Kingdom I Lake Wales FL Sep. 2023 (13) 510 1,417 — — 1,927 55 AutoZone II Temple GA Sep. 2023 (13) 370 814 — — 1,184 33 Dollar General VIII Stanleytown VA Sep. 2023 (13) 300 833 — — 1,133 33 Fresenius I Montevallo AL Sep. 2023 (13) 580 1,425 — — 2,005 56 Dollar General IX Mabelvale AR Sep. 2023 (13) 200 519 — — 719 20 Advance Auto I Angola IN Sep. 2023 (13) 170 370 — — 540 15 Arby's I Hernando MS Sep. 2023 (13) 600 1,485 — — 2,085 58 CVS II Holyoke MA Sep. 2023 (13) — 5,188 — — 5,188 191 Walgreens III Lansing MI Sep. 2023 (13) 1,070 2,917 — — 3,987 114 Walgreens IV Beaumont TX Sep. 2023 (13) 620 1,618 — — 2,238 63 Dollar General X Greenwell Springs LA Sep. 2023 (13) 250 793 — — 1,043 31 Home Depot I Birmingham AL Sep. 2023 (13) 9,800 27,391 — — 37,191 1,158 Home Depot I Valdosta GA Sep. 2023 (13) 9,250 24,191 — — 33,441 1,030 New Breed Logistics I Hanahan SC Sep. 2023 (13) 5,560 10,822 — — 16,382 493 Truist Bank I Atlanta GA Sep. 2023 (13) 420 1,128 — — 1,548 44 Truist Bank I Fort Pierce FL Sep. 2023 (13) 540 1,370 — — 1,910 54 Truist Bank I Nashville TN Sep. 2023 (13) 210 543 — — 753 21 Truist Bank I New Market VA Sep. 2023 (13) 320 830 — — 1,150 33 Truist Bank I New Smyrna Beach FL Sep. 2023 (13) 890 2,324 — — 3,214 91 Truist Bank I Oak Ridge TN Sep. 2023 (13) 430 1,172 — — 1,602 46 Truist Bank I Orlando FL Sep. 2023 (13) 590 1,603 — — 2,193 63 Truist Bank I Orlando FL Sep. 2023 (13) 890 2,324 — — 3,214 91 Truist Bank I Savannah TN Sep. 2023 (13) 380 1,033 — — 1,413 40 Truist Bank I Summerfield NC Sep. 2023 (13) 190 540 — — 730 21 Truist Bank I Thomson GA Sep. 2023 (13) 360 953 — — 1,313 37 Truist Bank I Vinton VA Sep. 2023 (13) 120 324 — — 444 13 Truist Bank I Washington DC Sep. 2023 (13) 730 1,902 — — 2,632 74 Truist Bank I Waycross GA Sep. 2023 (13) 420 1,126 — — 1,546 44 Truist Bank I Waynesville NC Sep. 2023 (13) 260 702 — — 962 27 Circle K I Aledo IL Sep. 2023 (13) 450 1,475 — — 1,925 57 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Circle K I Bedford OH Sep. 2023 (13) 310 950 — — 1,260 37 Circle K I Bloomington IL Sep. 2023 (13) 210 682 — — 892 26 Circle K I Bloomington IL Sep. 2023 (13) 190 627 — — 817 24 Circle K I Burlington IA Sep. 2023 (13) 160 517 — — 677 20 Circle K I Champaign IL Sep. 2023 (13) 195 635 — — 830 25 Circle K I Clinton IA Sep. 2023 (13) 240 765 — — 1,005 30 Circle K I Galesburg IL Sep. 2023 (13) 250 826 — — 1,076 32 Circle K I Jacksonville IL Sep. 2023 (13) 170 545 — — 715 21 Circle K I Jacksonville IL Sep. 2023 (13) 130 410 — — 540 16 Circle K I Lafayette IN Sep. 2023 (13) 250 784 — — 1,034 30 Circle K I Mattoon IL Sep. 2023 (13) 370 1,202 — — 1,572 46 Circle K I Morton IL Sep. 2023 (13) 180 611 — — 791 24 Circle K I Muscatine IA Sep. 2023 (13) 230 755 — — 985 29 Circle K I Paris IL Sep. 2023 (13) 260 845 — — 1,105 33 Circle K I Staunton IL Sep. 2023 (13) 510 1,593 — — 2,103 62 Circle K I Streetsboro OH Sep. 2023 (13) 240 730 — — 970 28 Circle K I Vandalia IL Sep. 2023 (13) 330 1,031 — — 1,361 40 Circle K I Virden IL Sep. 2023 (13) 340 1,024 — — 1,364 40 Walgreens VI Gillette WY Sep. 2023 (13) 920 2,336 — — 3,256 91 Walgreens V Oklahoma City OK Sep. 2023 (13) 1,120 3,162 — — 4,282 123 1st Constitution Bancorp I Hightstown NJ Sep. 2023 (13) 430 1,131 — — 1,561 44 FedEx Ground I Watertown SD Sep. 2023 (13) 780 1,755 — — 2,535 76 Krystal I Chattanooga TN Sep. 2023 (12) 280 689 — — 969 27 Krystal I Cleveland TN Sep. 2023 (12) 380 1,084 — — 1,464 42 Krystal I Columbus GA Sep. 2023 (12) 400 1,009 — — 1,409 40 Krystal I Ft. Oglethorpe GA Sep. 2023 (12) 250 711 — — 961 28 Krystal I Jacksonville FL Sep. 2023 (12) 360 898 — — 1,258 35 O'Charley's I Corydon IN Sep. 2023 (13) 384 1,016 — — 1,400 8 Walgreens VII Alton IL Sep. 2023 (13) 1,150 2,980 — — 4,130 116 Walgreens VII Florissant MO Sep. 2023 (13) 460 1,239 — — 1,699 48 Walgreens VII Florissant MO Sep. 2023 (13) 470 1,255 — — 1,725 49 Walgreens VII Mahomet IL Sep. 2023 (13) 1,130 2,797 — — 3,927 110 Walgreens VII Monroe MI Sep. 2023 (13) 900 2,532 — — 3,432 98 Walgreens VII Springfield IL Sep. 2023 (13) 1,080 2,846 — — 3,926 111 Walgreens VII St Louis MO Sep. 2023 (13) 750 1,960 — — 2,710 76 Walgreens VII Washington IL Sep. 2023 (13) 930 2,514 — — 3,444 98 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Tractor Supply II Houghton MI Sep. 2023 (13) 400 1,061 — — 1,461 42 National Tire & Battery II Mundelein IL Sep. 2023 — 3,549 — — 3,549 131 Tractor Supply III Harlan KY Sep. 2023 (13) 680 2,080 — — 2,760 81 Mattress Firm II Knoxville TN Sep. 2023 (13) 300 767 — — 1,067 30 Dollar General XI Greenville MS Sep. 2023 (13) 240 652 — — 892 26 Talecris Plasma Resources I Eagle Pass TX Sep. 2023 (13) 810 1,991 — — 2,801 79 Dollar General XII Le Center MN Sep. 2023 (13) 260 574 — — 834 23 Advance Auto II Bunnell FL Sep. 2023 (13) 380 956 — — 1,336 38 Advance Auto II Washington GA Sep. 2023 (13) 250 616 — — 866 24 Dollar General XIII Vidor TX Sep. 2023 (13) 230 521 — — 751 21 FedEx Ground II Leland MS Sep. 2023 (13) 1,170 2,660 — — 3,830 117 Burger King I Algonquin IL Sep. 2023 (13) 490 1,314 — — 1,804 52 Burger King I Antioch IL Sep. 2023 (13) 380 882 — — 1,262 35 Burger King I Austintown OH Sep. 2023 (13) 470 943 — — 1,413 38 Burger King I Beavercreek OH Sep. 2023 (13) 370 752 — — 1,122 30 Burger King I Celina OH Sep. 2023 (13) 360 890 — — 1,250 35 Burger King I Chesterland OH Sep. 2023 (13) 310 720 — — 1,030 28 Burger King I Columbiana OH Sep. 2023 (13) 460 1,015 — — 1,475 40 Burger King I Cortland OH Sep. 2023 (13) 370 760 — — 1,130 31 Burger King I Fairborn OH Sep. 2023 (13) 440 1,148 — — 1,588 45 Burger King I Girard OH Sep. 2023 (13) 530 1,186 — — 1,716 47 Burger King I Grayslake IL Sep. 2023 (13) 340 797 — — 1,137 32 Burger King I Greenville OH Sep. 2023 (13) 400 1,001 — — 1,401 39 Burger King I Gurnee IL Sep. 2023 (13) 570 1,437 — — 2,007 57 Burger King I Madison OH Sep. 2023 95 — — — 95 — Burger King I McHenry IL Sep. 2023 (13) 330 870 — — 1,200 34 Burger King I Mentor OH Sep. 2023 (13) 310 684 — — 994 27 Burger King I Niles OH Sep. 2023 (13) 480 1,061 — — 1,541 42 Burger King I North Fayette PA Sep. 2023 (13) 600 1,306 — — 1,906 52 Burger King I North Royalton OH Sep. 2023 (13) 440 1,235 — — 1,675 49 Burger King I North Versailles PA Sep. 2023 (13) 700 1,567 — — 2,267 62 Burger King I Poland OH Sep. 2023 (13) 340 742 — — 1,082 29 Burger King I Ravenna OH Sep. 2023 (13) 500 1,084 — — 1,584 43 Burger King I Round Lake Beach IL Sep. 2023 (13) 730 1,770 — — 2,500 70 Burger King I Salem OH Sep. 2023 (13) 550 1,247 — — 1,797 49 Burger King I Trotwood OH Sep. 2023 (13) 330 882 — — 1,212 35 Initial Costs Changes Subsequent to Acquisition Portfolio City U.S. State/Territory or Country Acquisition Encumbrances at December 31, 2024 (1) Land Building and Land Building and Gross Amount at December 31, 2023 (2)(3) Accumulated Depreciation (4)(5) Burger King I Twinsburg OH Sep. 2023 (13) 420 911 — — 1,331 36 Burger King I Waukegan IL Sep. 2023 (13) 380 926 — — 1,306 37 Burger King I Youngstown OH Sep. 2023 (13) 450 1,215 — — 1,665 48 Burger King I Youngstown OH Sep. 2023 (13) 570 1,220 — — 1,790 49 Burger King I Youngstown OH Sep. 2023 (13) 570 1,311 — — 1,881 52 Burger King I Youngstown OH Sep. 2023 (13) 370 854 — — 1,224 34 Dollar General XIV Fort Smith AR Sep. 2023 (13) 300 781 — — 1,081 31 Dollar General XIV Hot Springs AR Sep. 2023 (13) 300 780 — — 1,080 31 Dollar Gen

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on industry practices and accepted frameworks (e.g. the NIST framework). Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity risk management program includes: • risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment; • our IT team, in coordination with senior management, is principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; • the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls and designed to anticipate cyber-attacks and prevent breaches; • cybersecurity awareness training of our employees, incident response personnel, and senior management; • a risk management process for third parties, including, but not limited to service providers, suppliers, and vendors. We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on industry practices and accepted frameworks (e.g. the NIST framework). Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board considers cybersecurity risk and other information technology risks as part of its risk oversight function. Our Audit Committee reviews policies with respect to major risk assessment and risk management and reviews with management the steps taken to monitor and control such exposures. As part of this function, our Audit Committee oversees management’s implementation of our cybersecurity risk management program, including reviewing risk assessments from management with respect to our information technology systems and procedures, and overseeing our cybersecurity risk management processes.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Audit Committee reviews policies with respect to major risk assessment and risk management and reviews with management the steps taken to monitor and control such exposures. As part of this function, our Audit Committee oversees management’s implementation of our cybersecurity risk management program, including reviewing risk assessments from management with respect to our information technology systems and procedures, and overseeing our cybersecurity risk management processes
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The Audit Committee receives briefings from management on our cyber risk management program and receive presentations on cybersecurity topics from management, our internal auditors IT personnel or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Role of Management [Text Block]	Our management team is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Audit Committee receives periodic reports from management on our cybersecurity risks. In addition, management will update the Audit Committee, as necessary and appropriate, regarding cybersecurity incidents that we may experience. The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The Audit Committee receives briefings from management on our cyber risk management program and receive presentations on cybersecurity topics from management, our internal auditors IT personnel or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The Audit Committee receives periodic reports from management on our cybersecurity risks. In addition, management will update the Audit Committee, as necessary and appropriate, regarding cybersecurity incidents that we may experience. The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The Audit Committee receives briefings from management on our cyber risk management program and receive presentations on cybersecurity topics from management, our internal auditors IT personnel or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The Audit Committee receives briefings from management on our cyber risk management program and receive presentations on cybersecurity topics from management, our internal auditors IT personnel or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
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 U.S. (“GAAP”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company, the OPs and their subsidiaries. All intercompany accounts and transactions are 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. Substantially all of the Company’s assets and liabilities are held by the OPs.
Use of Estimates	Use of Estimates
Revenue Recognition	Revenue Recognition The Company’s revenues, which are derived primarily from lease contracts, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the non-cancelable term of the lease. As of December 31, 2024, these leases had a weighted-average remaining lease term of 6.2 years. 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 for, and include in revenue from tenants, unbilled rents receivable that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. As of December 31, 2024 and 2023, the Company’s cumulative straight-line rents receivable in the consolidated balance sheets was $99.5 million and $84.3 million, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company’s revenue from tenants included impacts of unbilled rental revenue of $19.2 million, $10.4 million and $9.6 million, respectively, to adjust contractual rent to straight-line rent. For new leases after acquisition of a property, the commencement date is considered to be the date the lease is executed and the tenant has access to the space. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation for all leases in place at the time of acquisition. In the Company’s Industrial & Distribution, Single- Tenant Retail and Office segments, in addition to base rent, the Company’s lease agreements generally require tenants to pay for their property operating expenses or reimburse the Company for property operating expenses that the Company incurs (primarily insurance costs and real estate taxes). However, some limited property operating expenses that are not the responsibility of the tenant are absorbed by the Company. In the Company’s Multi-Tenant Retail segment, the Company owns, manages and leases multi-tenant properties where the Company generally pays for the property operating expenses for those properties and most of the Company’s tenants are required to pay their pro rata share of property operating expenses. Under ASC 842, the Company has elected to report combined lease and non-lease components in a single line “Revenue from tenants.” For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis. 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 credit worthiness and 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. Under lease accounting rules, the Company is required to assess, based on credit risk only, if it is probable that it will collect virtually all of the lease payments at the lease commencement date and it must continue to reassess collectability periodically thereafter based on new facts and circumstances affecting the credit risk of the tenant. Partial reserves, or the ability to assume partial recovery are not permitted. If the Company determines that it is probable it will collect virtually all of the lease payments (rent and contractually reimbursable property operating expenses), the lease will continue to be accounted for on an accrual basis (i.e. straight-line). However, if the Company determines it is not probable that it will collect virtually all of the lease payments, the lease will be accounted for on a cash basis and the straight-line rent receivable would be written off where it was subsequently concluded that collection was not probable. Cost recoveries from tenants are included in revenue from tenants on the accompanying consolidated statements of operations 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. At the time an asset is acquired, the Company evaluates the inputs, processes and outputs of the asset acquired to determine if the transaction is a business combination or an 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. See the Purchase Price Allocation section in this Note for a discussion of the initial accounting for investments in Real Estate. 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. No properties were presented as discontinued operations as of December 31, 2024 and 2023. 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, most significantly that the sale is probable within one year. The Company evaluates probability of sale based on specific facts including whether a sales agreement is in place and the buyer has made significant non-refundable deposits. Properties are no longer depreciated when they are classified as held for sale. As of December 31, 2024, the Company determined that 13 properties, all of which were acquired in the REIT Merger, qualified for held for sale treatment and as of December 31, 2023 the Company determined that two properties, both of which were acquired in the REIT Merger, qualified for held for sale treatment (see Note 4 — Real Estate Investments, Net for additional information).
Purchase Price Allocation	Purchase Price Allocation In both a business combination and an asset acquisition, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities based on their respective fair values. Tangible assets may include land, land improvements, buildings, fixtures and tenant improvements on an as if vacant basis. Intangible assets may include the value of in-place leases, and 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 (in a business combination) 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. In a business combination, the difference between the purchase price and the fair value of identifiable net assets acquired is either recorded as goodwill or as a bargain purchase gain. In an asset acquisition, the difference between the acquisition price (including capitalized transaction costs) and the fair value of identifiable net assets acquired is allocated to the non-current assets. Other than the Mergers which were accounted for as a business combination (see Note 1 — Organization and Note 3 — The Mergers ), all of the other acquisitions during the years ended December 31, 2023 and December 31, 2022 were asset acquisitions. There were no acquisitions during the year ended December 31, 2024. For acquired properties with leases classified as operating leases, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired and liabilities assumed, based on their respective fair values. 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 preacquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. 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, direct capitalization and other methods. Fair value estimates are also made using significant assumptions such as capitalization rates, discount rates, market rent, and land values per square foot. Identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates, and the value of in-place leases, 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.
Lessor Accounting	Lessor Accounting In accordance with the lease accounting standard, all of the Company’s leases as lessor prior to adoption of ASC 842 were accounted for as operating leases and the Company continued to account for them as operating leases under the transition guidance. The Company evaluates new leases originated after the adoption date (by the Company or by a predecessor lessor/owner) pursuant to the new guidance where a lease for some or all of a building is classified by a lessor as a sales-type lease if the significant risks and rewards of ownership reside with the tenant. This situation is met if, among other things, there is an automatic transfer of title during the lease, a bargain purchase option, the non-cancelable lease term is for more than major part of remaining economic useful life of the asset (e.g., equal to or greater than 75%), if the present value of the minimum lease payments represents substantially all (e.g., equal to or greater than 90%) of the leased property’s fair value at lease inception, or if the asset so specialized in nature that it provides no alternative use to the lessor (and therefore would not provide any future value to the lessor) after the lease term. Further, such new leases would be evaluated to consider whether they would be failed sale-leaseback transactions and accounted for as financing transactions by the lessor. During the three-year period ended December 31, 2024, the Company had no leases as a lessor that would be considered as sales-type leases or financings. As a lessor of real estate, the Company has elected, by class of underlying assets, to account for lease and non-lease components (such as tenant reimbursements of property operating expenses) as a single lease component as an operating lease because (a) the non-lease components have the same timing and pattern of transfer as the associated lease component; and (b) the lease component, if accounted for separately, would be classified as an operating lease. Additionally, only incremental direct leasing costs may be capitalized under the accounting guidance. Indirect leasing costs in connection with new or extended tenant leases, if any, are being expensed as incurred.
Lessee Accounting	Lessee Accounting For lessees, the accounting standard requires the application of a dual lease classification approach, classifying leases as either operating or finance leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. Lease expense for operating leases is recognized on a straight-line basis over the term of the lease, while lease expense for finance leases is recognized based on an effective interest method over the term of the lease. Also, lessees must recognize a right-of-use asset (“ROU”) and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Further, certain transactions where at inception of the lease the buyer-lessor accounted for the transaction as a purchase of real estate and a new lease may now be required to have symmetrical accounting to the seller-lessee if the transaction was not a qualified sale-leaseback and accounted for as a financing transaction. For additional information and disclosures related to the Company’s operating leases, see Note 11 — Commitments and Contingencies. The Company is the lessee under certain land leases which were previously classified prior to adoption of lease accounting and will continue to be classified as operating leases under transition elections unless subsequently modified, as well as land leases and other operating leases that were acquired or entered into in connection with the Mergers. These leases are reflected on the balance sheet as right of use assets and operating lease liabilities and the rent expense is reflected on a straight-line basis over the lease term.
Impairment	Impairment The Company assesses each of its real estate properties for indicators of impairment quarterly or when circumstances indicate that the property may be impaired. When indicators of potential impairment are present that suggest that the carrying amounts may not be recoverable, the Company assesses the recoverability by determining whether the carrying values will be recovered through the estimated undiscounted future operating cash flows expected from the use of the assets and their eventual disposition over an estimated hold period of ten years in most cases. If the Company believes there is a significant possibility that it might dispose of the assets earlier, it assesses the recoverability using a probability weighted analysis of the estimated undiscounted future cash flows over the various possible holding periods. If the recoverability assessment indicates that the carrying value of the real estate investment is not recoverable from the estimated undiscounted future cash flows, the Company will record an impairment to the extent that the carrying value of the property exceeds its estimated fair value. Fair values are estimated based on contract prices for properties to be disposed, discounted cash flows or market comparable transactions. The estimation of future cash flows is subjective and is based on various assumptions, including but not limited to market rental rates, capitalization rates, hold periods, and discount rates. Determining the appropriate capitalization or discount rate requires significant judgment and is typically based on many factors, including the prevailing rate for the market or submarket, as well as the quality and location of the real estate property.
Gains and Losses on Dispositions of Real Estate Investments	Gains and Losses on Dispositions of Real Estate Investments
Depreciation and Amortization and Above and Below-Market Lease 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 and building 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. 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. Deferred leasing commissions are recorded over the terms of the related leases. The amortization expense related to leasing commissions incurred from third parties are recorded in depreciation and amortization. Prior to the Mergers, amortization expense related to leasing commissions incurred from the former Advisor were recorded within operating fees to related parties in the consolidated statements of operations. As a result of the Mergers (as defined on Note 2 - The Mergers ), the Company no longer pay any leasing commissions to the former Advisor. Above and Below-Market Lease Amortization Capitalized above-market lease values are amortized as a reduction of revenue from tenants over the remaining terms of the respective leases and the capitalized below-market lease values are amortized as an increase to revenue from tenants 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. Above market intangibles and below market intangibles will also be treated in the same way as in-place intangibles upon a lease termination. If a tenant modifies its lease, the unamortized portion of the in-place lease value, customer relationship intangibles, above-market leases and below market leases are assessed to determine whether their useful lives need to be amended (generally accelerated).
Cash and Cash Equivalents	Cash and Cash Equivalents
Goodwill	Goodwill The Company evaluates goodwill for impairment at least annually or upon the occurrence of a triggering event. The Company performed its annual impairment evaluation during the fourth quarter of 2024 to determine whether it was more likely than not that the fair value of each of its reporting units was less than their carrying value. For purposes of this assessment, an operating segment is a reporting unit. Based on this assessment, the Company determined that no goodwill was impaired as of December 31, 2024. The Company will continue to assess for triggering events. A triggering is an occurrence or circumstance that indicates it is more likely than not that goodwill may be impaired. In such cases, an interim impairment test is required before the next annual evaluation. Should any triggering event occur, the Company would evaluate the carrying value of its goodwill by segment through an impairment test. If impairment is warranted, the charge would be recorded through the consolidated statement of operations as a reduction to earnings. The Company assessed the potential sale of 100 of its multi-tenant retail properties (see Note 17 — Subsequent Events ) as a triggering event and determined that goodwill was not impaired as of December 31, 2024. The Company will continue to monitor the multi-tenant retail segment’s goodwill if and when the RCG Multi-Tenant Retail Disposition (as defined in Note 17 — Subsequent Events
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. In addition, all foreign currency denominated borrowings under the Company’s Revolving Credit Facility (as defined in Note 6 - Revolving Credit Facility ) are designated as net investment hedges. 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 USD. The Company enters into derivative financial instruments in an effort 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 foreign operations. 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 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 designated and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment (or for derivatives that do not qualify as hedges), 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 a derivative is designated and qualifies for cash flow 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 (loss) income to the extent that it is effective. Any ineffective portion of a change in derivative fair value is immediately recorded in earnings.
Deferred Financing Costs, Net	Deferred Financing Costs, Net Deferred financing costs, net are costs associated with the Revolving Credit Facility (as defined in Note 6 — Revolving Credit Facility ) and consist of 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 paid down 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.
Equity-Based Compensation	Equity-Based Compensation The Company has stock-based incentive plans under which its directors, officers, employees, consultants or entities that provide services to the Company are, or have historically been, eligible to receive awards. Awards granted thereunder are 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 in the consolidated statements of operations and is recognized over the vesting period or when the requirements for exercise of the award have been met. The Company has historically issued restricted shares of Common Stock (“Restricted Shares”), restricted stock units in respect of shares of Common Stock (“RSUs”), and performance stock units (“PSUs”). Also, although none remain outstanding as of December 31, 2024 or 2023, the Company historically had issued long-term incentive plan units of limited partner interest in the OP (“GNL LTIP Units”) (see below for more information). For additional information on all of the equity-based compensation awards issued by the Company, see Note 13 — Equity-Based Compensation . Multi-Year Outperformance Agreement With Former Advisor On June 2, 2021, the Company entered into the multi-year outperformance agreement in June 2021 with the former Advisor (the “2021 OPP”). In connection with the Internalization Merger Agreement, the parties agreed to modify the terms of the existing 2021 OPP to accelerate the timing for determining whether the award is vested and earned, which changed the end date of the performance period to September 11, 2023, the day prior to Acquisition Date (as defined below) of the Mergers. Due to this modification, all of the remaining recognized compensation expense was accelerated and recorded in the quarter ended September 30, 2023 (through September 11, 2023). For additional information on the 2021 OPP and the ultimate determination of the vesting of the award on September 11, 2023, see Note 13 — Equity-Based Compensation .
Income Taxes	Income Taxes The Company elected 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 and believes it has so qualified. 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 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 annually all of its REIT taxable income. REITs are subject to a number of other organizational and operational requirements. The Company conducts business in various states and municipalities within the U.S., Canada, Puerto Rico, the United Kingdom and Western Europe and, as a result, the Company or one of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and certain foreign jurisdictions. As a result, the Company may be subject to certain federal, state, local and foreign taxes on its 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 the Company’s earnings and available cash. In addition, the Company’s international assets and operations, including those owned through direct or indirect subsidiaries that are disregarded entities for U.S. federal income tax purposes, continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted. Significant judgment is required in determining the Company’s tax provision and in evaluating its 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 the likelihood of the tax position being sustained is no longer more likely than not. The Company recognizes deferred income taxes in certain of its subsidiaries taxable in the U.S. or in foreign jurisdictions. Deferred income taxes are generally the result of temporary differences (items that are treated differently for tax purposes than for 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 taxable income from its real estate operations in the U.S. and has historically distributed all of its REIT taxable income to its shareholders. As such, the Company’s real estate operations are generally not subject to U.S. 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. 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 its taxable income. 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 U.S. or in foreign jurisdictions. The amount of dividends payable to the Company’s common stockholders is determined by the Board 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. For addition details related to the Company’s income tax expense, as well as recorded deferred tax assets and liabilities, see Note 16 — Income Taxes.
Foreign Currency Translation	Foreign Currency Translation
Per Share Data	Per Share Data Under current authoritative guidance for determining earnings per share, all unvested 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. The Company’s unvested Restricted Shares contain and the unearned GNL LTIP Units, prior to the end of the performance period at September 11, 2023, contained rights to receive distributions considered to be non-forfeitable, except in certain limited circumstances, and therefore the Company applies the two-class method of computing earnings per share. The calculation of earnings per share above excludes the distributions to the unvested Restricted Shares and unearned GNL LTIP Units (prior to the end of the performance period at September 11, 2023) from the numerator.
Reportable Segments	Reportable Segments The Company determined that it has four reportable segments based on property type: (1) Industrial & Distribution, (2) Multi-Tenant Retail, (3) Single-Tenant Retail and (4) Office (see Note 15 — Segment Reporting
Noncontrolling Interests	Noncontrolling Interests The noncontrolling interests as of December 31, 2023 and 2022 represents the portion of the equity in the OP that is not owned by the Company. Noncontrolling interests are presented as a separate component of equity on the consolidated balance sheets and presented as net loss attributable to non-controlling interests on the consolidated statements of operations and comprehensive loss. Noncontrolling interests are allocated a share of net income or loss based on their share of equity ownership. The Company did not allocate any net loss to non-controlling interests as the amount was not significant. In December 2024, the holder of the Company’s Class A Units exchanged all of the Class A Units for an equal amount of shares of Common Stock, and as a result the Company no longer has any noncontrolling interest.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted as of January 1, 2022: In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Topic 470) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Topic 815). The new standard reduces the number of accounting models for convertible debt instruments and convertible preferred stock, and amends the guidance for the derivatives scope exception for contracts in an entity's own equity. The standard also amends and makes targeted improvements to the related earnings per share guidance. The ASU became effective for the Company January 1, 2022, and did not have a material impact on the Company’s consolidated financial statements. Adopted as of December 31, 2023: In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . Topic 848 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives, and other contracts. The guidance in Topic 848 is optional and may be elected over the period from March 12, 2020 through June 30, 2023 as reference rate reform activities occur. During quarter ended March 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Interbank Offered Rate indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company fully adopted this guidance as of June 30, 2023. Adopted as of December 31, 2024 In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 80) — Improvements to Reportable Segment Disclosures . The new standard requires additional disclosures regarding a company’s segments, including enhanced disclosures about significant segment expenses on an annual and interim basis. However, the new standard does not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. The Company adopted the new guidance in this Form 10-K for the year ended December 31, 2024, and it did not have an impact on its consolidated financial statements as the provisions are related to disclosure only. Pending Adoption as of December 31, 2024 In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740 ) — Improvements to Income Tax Disclosures. The new standard expands the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. Public entities must apply the new standard to annual periods beginning after December 15, 2024. The Company will adopt the new guidance in its Form 10-K for the year ended December 31, 2025 and it does not expect it to have an impact on its consolidated financial statements as the provisions are related to disclosure only. In November 2024, the FASB issued ASU 2024-03, Income Statement (Topic 220) — Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses . The new standard requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. Public entities must apply the new standard to annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Both early adoption and retrospective application are permitted. The Company is currently evaluating the impact that the adoption of this new standard will have on its consolidated financial statements and disclosures.
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 and those inputs are significant. 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, 2024 and 2023, 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. The consideration transferred by the Company in the Mergers established a new accounting basis for the assets acquired, liabilities assumed and any non-controlling interests, measured at their respective fair value as of the Acquisition Date. This measurement is non-recurring and is only done as of the Acquisition Date. For more information on the allocation of the consideration paid in the Mergers to the fair value of assets acquired, liabilities assumed, see Note 3 — The Mergers.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Future Minimum Base Rent Payments	The following table presents future minimum base rental cash payments due to the Company over the next five calendar years and thereafter as of December 31, 2024. These amounts exclude tenant reimbursements and contingent rent payments, as applicable, that may be collected from certain tenants based on increases in annual rent based on exceeding certain economic indexes among other items: (In thousands) Future Minimum Base Rent Payments (1) 2025 $ 613,629 2026 583,387 2027 525,984 2028 469,136 2029 388,650 Thereafter 1,760,390 Total $ 4,341,176 (1) Assumes exchange rates of £1.00 to $1.25 for British Pounds Sterling (“GBP”), €1.00 to $1.04 for Euro (“EUR”) and $1.00 Canadian Dollar (“CAD”) to $0.70 as of December 31, 2024 for illustrative purposes, as applicable.

The Mergers (Tables)

The Mergers (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Allocation of Assets Acquired and Liabilities Assumed	The following table presents the fair value of the consideration transferred to affect the acquisition: Fair Value Calculation Shares or Units Price Used to Calculate Fair Value Fair Value of Consideration Transferred (In thousands) Consideration Type Fair value of Common Stock issued to holders of RTL Class A Common Stock (1) 93,432,946 $ 11.11 (2) $ 1,038,040 Common Stock Fair value of Common Stock issued upon vesting of certain RTL Restricted Shares 209,906 $ 11.11 (2) 2,332 Common Stock Fair value of Common Stock issued to AR Global for the Internalization Merger 29,614,825 (3) $ 11.11 (2) 329,021 Common Stock Fair value of Class A Units issued by the OP to holder of RTL Class A Units 115,857 $ 11.11 (2) 1,287 Class A Units Fair value of GNL Series D Preferred Stock issued to holders of RTL Series A Preferred Stock (6) 7,933,711 (4) $ 19.61 (4) 155,580 Series D Preferred Stock Fair value of GNL Series E Preferred Stock to be issued to holders of RTL Series C Preferred Stock (6) 4,595,175 (5) $ 19.75 (5) 90,755 Series E Preferred Stock Total equity consideration 1,617,015 Cash consideration paid to AR Global 50,000 Cash Cash used to repay RTL’s credit facility at closing of the REIT Merger 466,000 Cash Total consideration transferred $ 2,133,015 ___________ (1) Includes RTL LTIP Units earned and converted to RTL Class A Common Stock and certain vested shares of RTL Restricted Shares, both of which occurred prior to the Acquisition Date (see Note 13 — Equity-Based Compensation). (2) Represents the closing price of GNL’s Common Stock on the Acquisition Date. (3) The considered value of Common Stock to be issued to AR Global was $325.0 million for the Internalization Merger, and the number of shares issued was valued based on the Company’s 5-day volume-weighted average price as of market close on May 11, 2023. The price used to calculate fair value represents the closing price of GNL’s Common Stock on the Acquisition Date. (3) Each share of the RTL Series A Preferred Stock was exchanged for one new share of Series D Preferred Stock respectively. The price used to calculate fair value represents the closing price of the RTL Series A Preferred Stock on the Acquisition Date. (5) Each share of the RTL Series C Preferred Stock was exchanged for one new share of Series E Preferred Stock respectively. The price used to calculate fair value represents the closing price of the RTL Series C Preferred Stock on the Acquisition Date. The following table presents the allocation of the assets acquired and liabilities assumed during the years ended December 31, 2023 and 2022, in the case of assets located outside of the United States, based on the applicable exchange rate at the time of purchase. With the exception of the Mergers, which was treated as a business combination (see Note 3 — The Mergers) , all acquisitions in these periods were considered asset acquisitions for accounting purposes. There were no acquisitions during the year ended December 31, 2024. Year Ended December 31, (Dollar amounts in thousands) 2023 2022 Business Combination Asset Acquisitions Total Total (All Asset Acquisitions) Real estate investments, at cost: Land $ 955,582 $ 9,541 $ 965,123 $ 4,176 Buildings, fixtures and improvements 2,527,159 73,150 2,600,309 25,938 Total tangible assets 3,482,741 82,691 3,565,432 30,114 Acquired intangible lease assets: In-place leases 581,430 9,231 590,661 4,010 Above-market lease assets 67,768 40,964 108,732 — Below-market lease liabilities — — — (230) Total intangible assets and liabilities 649,198 50,195 699,393 3,780 Cash 64,616 — 64,616 — Right-of-use asset 26,417 1,426 27,843 — Prepaid expenses and other assets 59,160 — 59,160 — Goodwill 30,457 — 30,457 — Total assets acquired 4,312,589 134,312 4,446,901 33,894 Liabilities Assumed: Mortgage note payable 1,587,455 — 1,587,455 — Senior notes, net 386,250 — 386,250 — Acquired intangible lease liabilities 76,685 211 76,896 — Accounts payable and accrued expenses 84,368 — 84,368 — Operating lease liabilities 26,377 — 26,377 — Prepaid rent 18,439 — 18,439 — Total liabilities assumed 2,179,574 211 2,179,785 — Equity issued in acquisitions 1,617,015 — 1,617,015 — Cash paid for acquired real estate investments $ 516,000 $ 134,101 $ 650,101 $ 33,894 Number of properties purchased 989 9 998 3
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the amounts recognized for the assets acquired and liabilities assumed as of Acquisition Date, as well as adjustments made during the Measurement Period, to the amounts previously reported in the three months ended September 30, 2023. (in thousands) Amounts Recognized as of the Acquisition Date (as previously reported) Measurement Period Adjustments Amounts Recognized as of the Acquisition Date (as adjusted) Assets Acquired: Land $ 954,967 $ 615 $ 955,582 Buildings, fixtures and improvements 2,526,810 349 2,527,159 Total tangible assets 3,481,777 964 (1) 3,482,741 Acquired intangible assets: In-place leases 582,475 (1,045) 581,430 Above-market lease assets 67,718 50 67,768 Total acquired intangible lease assets 650,193 (995) (1) 649,198 Cash 65,223 (607) (2) 64,616 Operating lease right-of-use assets 26,407 10 26,417 Prepaid expenses and other assets 60,862 (1,702) (3) 59,160 Goodwill 29,817 640 (4) 30,457 Total assets acquired 4,314,279 (1,690) 4,312,589 Liabilities Assumed: Mortgage notes payable, net 1,587,455 — 1,587,455 Senior notes, net 386,250 — 386,250 Acquired intangible lease liabilities 76,682 3 76,685 Accounts payable and accrued expenses 86,031 (1,663) (5) 84,368 Operating lease liabilities 26,407 (30) 26,377 Prepaid rent 18,439 — 18,439 Total liabilities assumed 2,181,264 (1,690) 2,179,574 Total consideration transferred $ 2,133,015 $ — $ 2,133,015 ________ (1) These adjustments were recorded to reflect changes in the estimated fair value of tangible and intangible assets, from the initial provisional estimates, due to the receipt of new information. (2) The decrease in cash was due to the receipt of new information, subsequent to the initial provisional estimates, related to cash acquired as of the Acquisition Date. (3) The net decrease in prepaid expenses and other assets was due to the receipt of new information, subsequent to the initial provisional estimates, primarily related to receivables that were estimated as of the Acquisition Date. (4) The net increase in goodwill from the initial provisional valuation reflects the net impact of all measurement period adjustments to the assets acquired and liabilities assumed. (5)
Schedule of Pro Forma Information	The following table presents information for RTL that is included in the Company’s consolidated statements of income from the Acquisition Date through the year ended December 31, 2023: (In thousands) RTL’s Operations Included in GNL’s Results Revenue from tenants $ 132,506 Net loss $ (22,735) Pro Forma Information (Unaudited) The following table presents unaudited supplemental pro forma information as if the Mergers had occurred on January 1, 2022 for the years ended December 31, 2023 and 2022. The unaudited supplemental pro forma financial information is not necessarily indicative of what the actual results of operations of the Company would have been assuming the Mergers had taken place on January 1, 2022, nor is it indicative of the results of operations for future periods. (In thousands) Year Ended December 31, 2023 2022 Pro Forma Revenue from tenants $ 815,803 $ 819,991 Pro Forma Net loss $ (347,046) $ (89,796)

Real Estate Investments, Net (T

Real Estate Investments, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
Schedule of Allocation of Assets Acquired and Liabilities Assumed	The following table presents the fair value of the consideration transferred to affect the acquisition: Fair Value Calculation Shares or Units Price Used to Calculate Fair Value Fair Value of Consideration Transferred (In thousands) Consideration Type Fair value of Common Stock issued to holders of RTL Class A Common Stock (1) 93,432,946 $ 11.11 (2) $ 1,038,040 Common Stock Fair value of Common Stock issued upon vesting of certain RTL Restricted Shares 209,906 $ 11.11 (2) 2,332 Common Stock Fair value of Common Stock issued to AR Global for the Internalization Merger 29,614,825 (3) $ 11.11 (2) 329,021 Common Stock Fair value of Class A Units issued by the OP to holder of RTL Class A Units 115,857 $ 11.11 (2) 1,287 Class A Units Fair value of GNL Series D Preferred Stock issued to holders of RTL Series A Preferred Stock (6) 7,933,711 (4) $ 19.61 (4) 155,580 Series D Preferred Stock Fair value of GNL Series E Preferred Stock to be issued to holders of RTL Series C Preferred Stock (6) 4,595,175 (5) $ 19.75 (5) 90,755 Series E Preferred Stock Total equity consideration 1,617,015 Cash consideration paid to AR Global 50,000 Cash Cash used to repay RTL’s credit facility at closing of the REIT Merger 466,000 Cash Total consideration transferred $ 2,133,015 ___________ (1) Includes RTL LTIP Units earned and converted to RTL Class A Common Stock and certain vested shares of RTL Restricted Shares, both of which occurred prior to the Acquisition Date (see Note 13 — Equity-Based Compensation). (2) Represents the closing price of GNL’s Common Stock on the Acquisition Date. (3) The considered value of Common Stock to be issued to AR Global was $325.0 million for the Internalization Merger, and the number of shares issued was valued based on the Company’s 5-day volume-weighted average price as of market close on May 11, 2023. The price used to calculate fair value represents the closing price of GNL’s Common Stock on the Acquisition Date. (3) Each share of the RTL Series A Preferred Stock was exchanged for one new share of Series D Preferred Stock respectively. The price used to calculate fair value represents the closing price of the RTL Series A Preferred Stock on the Acquisition Date. (5) Each share of the RTL Series C Preferred Stock was exchanged for one new share of Series E Preferred Stock respectively. The price used to calculate fair value represents the closing price of the RTL Series C Preferred Stock on the Acquisition Date. The following table presents the allocation of the assets acquired and liabilities assumed during the years ended December 31, 2023 and 2022, in the case of assets located outside of the United States, based on the applicable exchange rate at the time of purchase. With the exception of the Mergers, which was treated as a business combination (see Note 3 — The Mergers) , all acquisitions in these periods were considered asset acquisitions for accounting purposes. There were no acquisitions during the year ended December 31, 2024. Year Ended December 31, (Dollar amounts in thousands) 2023 2022 Business Combination Asset Acquisitions Total Total (All Asset Acquisitions) Real estate investments, at cost: Land $ 955,582 $ 9,541 $ 965,123 $ 4,176 Buildings, fixtures and improvements 2,527,159 73,150 2,600,309 25,938 Total tangible assets 3,482,741 82,691 3,565,432 30,114 Acquired intangible lease assets: In-place leases 581,430 9,231 590,661 4,010 Above-market lease assets 67,768 40,964 108,732 — Below-market lease liabilities — — — (230) Total intangible assets and liabilities 649,198 50,195 699,393 3,780 Cash 64,616 — 64,616 — Right-of-use asset 26,417 1,426 27,843 — Prepaid expenses and other assets 59,160 — 59,160 — Goodwill 30,457 — 30,457 — Total assets acquired 4,312,589 134,312 4,446,901 33,894 Liabilities Assumed: Mortgage note payable 1,587,455 — 1,587,455 — Senior notes, net 386,250 — 386,250 — Acquired intangible lease liabilities 76,685 211 76,896 — Accounts payable and accrued expenses 84,368 — 84,368 — Operating lease liabilities 26,377 — 26,377 — Prepaid rent 18,439 — 18,439 — Total liabilities assumed 2,179,574 211 2,179,785 — Equity issued in acquisitions 1,617,015 — 1,617,015 — Cash paid for acquired real estate investments $ 516,000 $ 134,101 $ 650,101 $ 33,894 Number of properties purchased 989 9 998 3
Schedule Acquisition by Property Type	The following table summarizes the acquisition by property type, listed by reportable segment, during the years ended December 31, 2023 and 2022: Property Type Number of Properties Square Feet (unaudited) Properties Acquired in 2023: Industrial & Distribution 31 4,085,826 Multi-Tenant Retail 109 16,375,661 Single-Tenant Retail 851 7,140,274 Office 7 305,912 998 27,907,673 Properties Acquired in 2022: Industrial & Distribution 2 232,600 Multi-Tenant Retail — — Single-Tenant Retail — — Office 1 66,626 3 299,226
Schedule of Properties Sold	The following table summarizes the aforementioned properties sold in 2024, 2023 and 2022: Portfolio Country/State Disposition Date Number of Properties Square Feet (unaudited) Properties Sold in 2024: O’Charley’s AL, IN, TN, MS, NC, GA, KY, OH, TN, IL, LA February & March (5 properties); April & May & June (7 properties); July, August & September (3 properties); October & November (3 properties) 18 120,599 Truist Bank FL, GA, TN, NC, SC, VA, OH, FL February & March (11 properties); April & May (11 properties ); September (1 property) 23 96,538 Fife Council United Kingdom February 1 37,331 TOMs King IL, OH & PA February, August, October & November 6 24,211 FedEx MN March 1 11,501 Amazon KY May 1 79,105 American Car Center AL, GA, KY, SC, TN, AR May, June, August & November 7 64,962 AmeriCold GA, IL, MN, SC June 9 1,407,166 CVS MI June 1 10,880 Decatur Commons AL May 1 125,635 Diebold OH June 1 158,330 Klaussner NC, VA May & September 2 1,244,737 Shippensburg Marketplace PA April 1 59,866 Springfield Commons OH June 1 164,843 Family Dollar CO & AR & LA July & October & November 4 32,988 Shops at Abilene TX July 1 175,642 HEB Center TX July 1 130,127 East West Commons GA August 1 173,205 Johnson Controls Spain August 1 29,095 Imperial AL August 1 10,022 Foster Wheeler United Kingdom August 1 365,832 The Plant OH August 1 367,926 Joe's Crab Shack NC September 1 7,903 Trinity/Valasis MI September 2 276,621 Plasma NV, PA & TX September & December 3 36,607 Epredia MI September 1 114,700 Pizza Hut GA, NC, NY, MT, OH, VA, IL, KY, UT, TX, OK, WY, CO October, November & December 36 108,042 Taco Johns MN & ID October 2 3,814 Hardees AL October 1 3,812 Burger King OH October & November 2 6,323 Sterling Slidel LA November & December 2 333,769 Checkers GA November 1 1,065 Freesenius AL, FL, GA, IL, IN, KY, ME, MI, MO, MS, MT, NC, NH, NJ, OH, PA, SC & VA December 35 293,763 Poplar Springs SC December 1 64,078 Mister Car Wash GA December 5 20,310 GE Aviation OH December 1 102,000 Home Depot CA December 1 141,021 178 6,404,369
Schedule of Real Estate Properties Held for Sale	The following table details the major classes of the assets associated with the properties that the Company determined to be classified as held for sale as of December 31, 2024 and 2023: December 31, (In thousands) 2024 2023 Real estate investments held for sale, at cost: Land $ 4,574 $ 860 Buildings, fixtures and improvements 11,658 2,349 Acquired intangible lease assets 1,627 — Total real estate assets held for sale, at cost 17,859 3,209 Less accumulated depreciation and amortization (453) (21) Total real estate investments held for sale, net $ 17,406 0 $ 3,188
Schedule of Acquired Intangible Lease Assets and Lease Liabilities	Acquired intangible lease assets and lease liabilities consist of the following: December 31, 2024 December 31, 2023 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying amount Gross Carrying Amount Accumulated Amortization Net Carrying amount Intangible assets: In-place leases $ 940,139 $ 399,271 $ 540,868 $ 1,215,443 $ 436,249 $ 779,194 Above-market leases 117,828 33,504 84,324 144,538 32,724 111,814 Total acquired intangible lease assets $ 1,057,967 $ 432,775 $ 625,192 $ 1,359,981 $ 468,973 $ 891,008 Intangible liabilities: Below-market leases $ 107,903 $ 31,103 $ 76,800 $ 120,022 $ 24,212 $ 95,810 Total acquired intangible lease liabilities $ 107,903 $ 31,103 $ 76,800 $ 120,022 $ 24,212 $ 95,810
Schedule of Intangible Asset Weighted-Average Amortization Periods and Expense	The following table provides the weighted-average amortization periods as of December 31, 2024 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 2025 2026 2027 2028 2029 In-place leases 6.3 $ 122,447 $ 95,432 $ 74,088 $ 56,838 $ 39,557 Total to be included as an increase to depreciation and amortization $ 122,447 $ 95,432 $ 74,088 $ 56,838 $ 39,557 Above-market lease assets 7.4 $ 14,108 $ 12,255 $ 11,150 $ 9,333 $ 7,581 Below-market lease liabilities 12.6 (9,133) (7,750) (6,862) (6,168) (5,360) Total to be included as an increase (decrease) to revenue from tenants $ 4,975 $ 4,505 $ 4,288 $ 3,165 $ 2,221
Schedule of Properties With Significant Annualized Straight-line Rental Income, 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 as of December 31, 2024, represented greater than 10% of consolidated annualized rental income on a straight-line basis as of December 31, 2024, 2023 and 2022. December 31, Country / U.S. State 2024 2023 2022 United States 80.1% 79.7% 63.9% Michigan 9.2% 8.4% 15.5% United Kingdom 10.4% 11.1% 17.4%

Mortgage Notes Payable, Net (Ta

Mortgage Notes Payable, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable	Mortgage notes payable, net as of December 31, 2024 and 2023 consisted of the following: Encumbered Properties Outstanding Loan Amount (1) Effective Interest Rate Interest Rate Country Portfolio December 31, 2024 December 31, 2023 Maturity Anticipated Repayment (2) (In thousands) (In thousands) Finland: Finland Properties 5 $ 76,866 $ — 5.0% (3) Fixed/Variable Jan. 2029 Jan. 2029 Finland Properties — — 81,695 —% (3) Fixed/Variable Feb. 2024 Feb. 2024 Luxembourg/ The Netherlands: Benelux Properties — — 129,752 —% (4) Fixed Jun. 2024 Jun. 2024 Total EUR denominated 5 76,866 211,447 United Kingdom: McLaren — — 128,587 —% (5) Fixed Apr. 2024 Apr. 2024 Total GBP denominated — — 128,587 United States: Penske Logistics 1 70,000 70,000 4.7% (6) Fixed Nov. 2028 Nov. 2028 Multi-Tenant Mortgage Loan I 10 162,580 162,580 4.4% (6) Fixed Nov. 2027 Nov. 2027 Multi-Tenant Mortgage Loan II 8 32,750 32,750 4.4% (6) Fixed Feb. 2028 Feb. 2028 Multi-Tenant Mortgage Loan III 7 98,500 98,500 4.9% (6) Fixed Dec. 2028 Dec. 2028 Multi-Tenant Mortgage Loan IV 15 90,111 97,500 4.6% (6) Fixed May 2029 May 2029 Multi-Tenant Mortgage Loan V 11 139,771 139,771 3.7% (6) Fixed Oct. 2029 Oct. 2029 2019 Class A-1 Net-Lease Mortgage Notes 70 105,859 110,815 3.8% Fixed May 2049 May 2026 2019 Class A-2 Net-Lease Mortgage Notes 75 118,798 119,409 4.5% Fixed May 2049 May 2029 2021 Class A-1 Net-Lease Mortgage Notes 49 49,362 50,971 2.2% Fixed May 2051 May 2028 2021 Class A-2 Net-Lease Mortgage Notes 49 85,262 88,041 2.8% Fixed May 2051 May 2031 2021 Class A-3 Net-Lease Mortgage Notes 38 34,997 34,997 3.1% Fixed May 2051 May 2028 2021 Class A-4 Net-Lease Mortgage Notes 38 54,995 54,995 3.7% Fixed May 2051 May 2031 Column Financial Mortgage Notes 290 463,370 697,595 3.8% (7) Fixed Aug. 2025 Aug. 2025 Mortgage Loan II 12 210,000 210,000 4.2% Fixed Jan. 2028 Jan. 2028 Mortgage Loan III 22 33,400 33,400 4.1% Fixed Jan. 2028 Jan. 2028 RTL Multi-Tenant Mortgage II — — 25,000 —% Fixed Feb. 2024 Feb. 2024 McGowin Park — — 39,025 —% Fixed May 2024 May 2024 CMBS Loan 29 260,000 260,000 6.5% Fixed Sept. 2033 Sept. 2033 CMBS Loan II 20 237,000 — 5.8% Fixed Apr. 2029 Apr. 2029 Total USD denominated 744 2,246,755 2,325,349 Gross mortgage notes payable 749 2,323,621 2,665,383 4.5% Mortgage discount (90,444) (140,403) — Deferred financing costs, net of accumulated amortization (8) (11,471) (7,112) — Mortgage notes payable, net 749 $ 2,221,706 $ 2,517,868 4.5% __________ (1) Amounts borrowed in local currency are translated at the spot rate in effect at the applicable reporting date. (2) The Company determines an anticipated repayment date when the terms of a debt obligation provide for earlier repayment than the legal maturity and when the Company expects to repay such debt obligations earlier due to factors such as elevated interest rates or additional principal payment requirements. (3) 80% fixed as a result of a “pay-fixed” interest rate swap agreement and 20% variable. Variable portion is approximately 1.4% plus 3-month Euribor and reflects the Euribor rate in effect as of December 31, 2024. This loan was extended from its original maturity date of February 2024 to February 2029. (4) This mortgage was repaid in the quarter ended June 2024 using borrowings under the EUR portion of the Company’s Revolving Credit Facility (as defined in Note 6 — Revolving Credit Facility ). (5) This mortgage was repaid in April 2024 using borrowings under the GBP portion of the Company’s Revolving Credit Facility(as defined in Note 6 — Revolving Credit Facility ). (6) The borrower’s (wholly-owned subsidiaries of the Company) financial statements are included within the Company’s consolidated financial statements, however, the borrowers’ assets and credit are only available to pay the debts of the borrowers and their liabilities constitute obligations of the borrowers. (7) Decrease primarily due to the repayment of mortgages for certain encumbered properties that were sold during 2024. (8) Deferred financing costs consist of 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 paid down 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. The details of the Company’s senior notes are as follows: December 31, (In thousands) 2024 2023 3.75% Senior Notes Aggregate principal amount $ 500,000 $ 500,000 Less: Deferred financing costs (4,100) (5,491) 3.75% Senior Notes, net 495,900 494,509 4.50% Senior Notes Aggregate principal amount 500,000 500,000 Less: Discount (89,799) (108,464) 4.50% Senior Notes, net 410,201 391,536 Senior Notes, Net $ 906,101 $ 886,045
Schedule of Future Principal Payments on Mortgage Notes Payable	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, 2024: (In thousands) Future Principal Payments (1) 2025 $ 464,526 2026 105,925 2027 163,191 2028 529,620 2029 660,102 Thereafter 400,257 Total $ 2,323,621 ______ (1) Assumes exchange rates of £1.00 to $1.25 for GBP and €1.00 to $1.04 for EUR as of December 31, 2024 for illustrative purposes, as applicable.

Revolving Credit Facility (Tabl

Revolving Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Balance Under Credit Agreement	The table below details the outstanding balances as of December 31, 2024 and 2023 under the credit agreement with KeyBank National Association, as agent, and the other lender parties thereto which was originally entered into on July 24, 2017 and has been amended from time to time (the “Credit Agreement”). The Credit Agreement consists solely of the senior unsecured multi-currency revolving credit facility (the “Revolving Credit Facility”). In connection with the Mergers, the Company amended the Credit Agreement on September 12, 2023 in order to, among other things, repay the outstanding indebtedness and obligations under RTL’s credit facility. The Company exercised the existing “accordion feature” on the Revolving Credit Facility and increased the aggregate total commitments under the Revolving Credit Facility by $500.0 million from $1.45 billion to $1.95 billion to repay and terminate RTL’s credit facility and to create additional availability after the closing of the REIT Merger. The sublimits for letters of credit and swing loans were also each increased from $50.0 million to $75.0 million. The amendment to the Credit Agreement also included modifications to the change of control events to reflect the changes to the board composition and management of the Company following the REIT Merger and other modifications to account for multi-tenant properties for the credit support of additional eligible unencumbered properties that are owned by the subsidiaries of RTL OP that serve as guarantors under the Credit Agreement. December 31, 2024 December 31, 2023 (In thousands) TOTAL USD (1) USD (3) GBP (4) EUR (5) CAD (6) TOTAL USD (2) USD GBP EUR CAD (6) Revolving Credit Facility $ 1,390,292 $ 494,119 £ 344,000 € 422,145 $ 38,000 $ 1,744,182 $ 1,030,962 £ 261,000 € 319,075 $ 38,000 (1) Assumes exchange rates of £1.00 to $1.25 for GBP, €1.00 to $1.04 for EUR and $1.00 CAD to $0.70 as of December 31, 2024 for illustrative purposes, as applicable. (2) Assumes exchange rates of £1.00 to $1.27 for GBP, €1.00 to $1.10 for EUR and $1.00 CAD to $0.75 as of December 31, 2023 for illustrative purposes, as applicable. (3) The USD portion of the Revolving Credit Facility is 100% fixed via swaps and, as of December 31, 2024, had a weighted-average effective interest rate of 6.0% after giving effect to interest rate swaps in place. (4) The GBP portion of Revolving Credit Facility is 58.1% fixed via swaps and, as of December 31, 2024, had a weighted-average effective interest rate of 6.4%. (5) The EUR portion of Revolving Credit Facility is 59.2% fixed via swaps and, as of December 31, 2024, had a weighted-average effective interest rate of 4.6% after giving effect to interest rate swaps in place. (6) The CAD portion of Revolving Credit Facility is 100% variable and, as of December 31, 2024, had a weighted-average effective interest rate of 6.0%.

Senior Notes, Net (Tables)

Senior Notes, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Senior Notes, Net	Mortgage notes payable, net as of December 31, 2024 and 2023 consisted of the following: Encumbered Properties Outstanding Loan Amount (1) Effective Interest Rate Interest Rate Country Portfolio December 31, 2024 December 31, 2023 Maturity Anticipated Repayment (2) (In thousands) (In thousands) Finland: Finland Properties 5 $ 76,866 $ — 5.0% (3) Fixed/Variable Jan. 2029 Jan. 2029 Finland Properties — — 81,695 —% (3) Fixed/Variable Feb. 2024 Feb. 2024 Luxembourg/ The Netherlands: Benelux Properties — — 129,752 —% (4) Fixed Jun. 2024 Jun. 2024 Total EUR denominated 5 76,866 211,447 United Kingdom: McLaren — — 128,587 —% (5) Fixed Apr. 2024 Apr. 2024 Total GBP denominated — — 128,587 United States: Penske Logistics 1 70,000 70,000 4.7% (6) Fixed Nov. 2028 Nov. 2028 Multi-Tenant Mortgage Loan I 10 162,580 162,580 4.4% (6) Fixed Nov. 2027 Nov. 2027 Multi-Tenant Mortgage Loan II 8 32,750 32,750 4.4% (6) Fixed Feb. 2028 Feb. 2028 Multi-Tenant Mortgage Loan III 7 98,500 98,500 4.9% (6) Fixed Dec. 2028 Dec. 2028 Multi-Tenant Mortgage Loan IV 15 90,111 97,500 4.6% (6) Fixed May 2029 May 2029 Multi-Tenant Mortgage Loan V 11 139,771 139,771 3.7% (6) Fixed Oct. 2029 Oct. 2029 2019 Class A-1 Net-Lease Mortgage Notes 70 105,859 110,815 3.8% Fixed May 2049 May 2026 2019 Class A-2 Net-Lease Mortgage Notes 75 118,798 119,409 4.5% Fixed May 2049 May 2029 2021 Class A-1 Net-Lease Mortgage Notes 49 49,362 50,971 2.2% Fixed May 2051 May 2028 2021 Class A-2 Net-Lease Mortgage Notes 49 85,262 88,041 2.8% Fixed May 2051 May 2031 2021 Class A-3 Net-Lease Mortgage Notes 38 34,997 34,997 3.1% Fixed May 2051 May 2028 2021 Class A-4 Net-Lease Mortgage Notes 38 54,995 54,995 3.7% Fixed May 2051 May 2031 Column Financial Mortgage Notes 290 463,370 697,595 3.8% (7) Fixed Aug. 2025 Aug. 2025 Mortgage Loan II 12 210,000 210,000 4.2% Fixed Jan. 2028 Jan. 2028 Mortgage Loan III 22 33,400 33,400 4.1% Fixed Jan. 2028 Jan. 2028 RTL Multi-Tenant Mortgage II — — 25,000 —% Fixed Feb. 2024 Feb. 2024 McGowin Park — — 39,025 —% Fixed May 2024 May 2024 CMBS Loan 29 260,000 260,000 6.5% Fixed Sept. 2033 Sept. 2033 CMBS Loan II 20 237,000 — 5.8% Fixed Apr. 2029 Apr. 2029 Total USD denominated 744 2,246,755 2,325,349 Gross mortgage notes payable 749 2,323,621 2,665,383 4.5% Mortgage discount (90,444) (140,403) — Deferred financing costs, net of accumulated amortization (8) (11,471) (7,112) — Mortgage notes payable, net 749 $ 2,221,706 $ 2,517,868 4.5% __________ (1) Amounts borrowed in local currency are translated at the spot rate in effect at the applicable reporting date. (2) The Company determines an anticipated repayment date when the terms of a debt obligation provide for earlier repayment than the legal maturity and when the Company expects to repay such debt obligations earlier due to factors such as elevated interest rates or additional principal payment requirements. (3) 80% fixed as a result of a “pay-fixed” interest rate swap agreement and 20% variable. Variable portion is approximately 1.4% plus 3-month Euribor and reflects the Euribor rate in effect as of December 31, 2024. This loan was extended from its original maturity date of February 2024 to February 2029. (4) This mortgage was repaid in the quarter ended June 2024 using borrowings under the EUR portion of the Company’s Revolving Credit Facility (as defined in Note 6 — Revolving Credit Facility ). (5) This mortgage was repaid in April 2024 using borrowings under the GBP portion of the Company’s Revolving Credit Facility(as defined in Note 6 — Revolving Credit Facility ). (6) The borrower’s (wholly-owned subsidiaries of the Company) financial statements are included within the Company’s consolidated financial statements, however, the borrowers’ assets and credit are only available to pay the debts of the borrowers and their liabilities constitute obligations of the borrowers. (7) Decrease primarily due to the repayment of mortgages for certain encumbered properties that were sold during 2024. (8) Deferred financing costs consist of 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 paid down 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. The details of the Company’s senior notes are as follows: December 31, (In thousands) 2024 2023 3.75% Senior Notes Aggregate principal amount $ 500,000 $ 500,000 Less: Deferred financing costs (4,100) (5,491) 3.75% Senior Notes, net 495,900 494,509 4.50% Senior Notes Aggregate principal amount 500,000 500,000 Less: Discount (89,799) (108,464) 4.50% Senior Notes, net 410,201 391,536 Senior Notes, Net $ 906,101 $ 886,045

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of 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, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those instruments fall. (In thousands) Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total December 31, 2024 Foreign currency forwards, net (GBP & EUR) $ — $ 1,583 $ — $ 1,583 Interest rate swaps, net (USD, GBP & EUR) $ — $ (2,831) $ — $ (2,831) December 31, 2023 Foreign currency forwards, net (GBP & EUR) $ — $ (1,569) $ — $ (1,569) Interest rate swaps, net (USD, GBP & EUR) $ — $ 7,039 $ — $ 7,039

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 and 2023: December 31, (In thousands) Balance Sheet Location 2024 2023 Derivatives designated as hedging instruments: Interest rate “pay-fixed” swaps (USD) Derivative liabilities, at fair value $ (1,179) $ (2,110) Interest rate “pay-fixed” swaps (GBP) Derivative liabilities, at fair value (602) — Interest rate “pay-fixed” swaps (EUR) Derivative assets, at fair value 260 5,987 Interest rate “pay-fixed” swaps (EUR) Derivative liabilities, at fair value (1,310) — Total $ (2,831) $ 3,877 Derivatives not designated as hedging instruments: Foreign currency forwards (GBP-USD) Derivative assets, at fair value $ 1,156 $ 878 Foreign currency forwards (GBP-USD) Derivative liabilities, at fair value (628) (1,906) Foreign currency forwards (EUR-USD) Derivative assets, at fair value 1,055 588 Foreign currency forwards (EUR-USD) Derivative liabilities, at fair value — (1,129) Interest rate swaps (EUR) Derivative assets, at fair value — 3,162 Total $ 1,583 $ 1,593
Schedule of Interest Rate Derivatives	As of December 31, 2024 and 2023, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: December 31, 2024 2023 Derivatives Number of Notional Amount Number of Notional Amount (In thousands) (In thousands) Interest rate “pay-fixed” swaps (GBP) 3 $ 250,718 — $ — Interest rate “pay-fixed” swaps (EUR) 9 321,178 11 308,233 Interest rate “pay-fixed” swaps (USD) 9 600,000 5 300,000 Total 21 $ 1,171,896 16 $ 608,233
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the years ended December 31, 2024, 2023 and 2022: Year Ended December 31, (In thousands) 2024 2023 2022 Amount of (loss) gain recognized in AOCI from derivatives $ 7,928 $ (5,100) $ 27,896 Amount of gain (loss) reclassified from AOCI into income as interest expense $ 14,583 $ 15,744 $ (5) Total interest expense recorded in the consolidated statements of operations $ 326,932 $ 179,411 $ 97,510
Schedule of Disclosure of Credit Derivatives	As of December 31, 2024 and 2023, the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships: December 31, 2024 December 31, 2023 Derivatives Number of Notional Amount Number of Notional Amount (In thousands) (In thousands) Foreign currency forwards (GBP - USD) 30 $ 69,574 29 $ 54,745 Foreign currency forwards (EUR - USD) 19 29,085 28 41,952 Interest rate swaps (EUR) — — 3 154,062 Total 49 $ 98,659 60 $ 250,759
Schedule of 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, 2024 and 2023. 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, 2024 $ 2,471 $ (3,719) $ — $ (1,248) $ — $ — $ (1,248) December 31, 2023 $ 10,615 $ (5,145) $ — $ 5,470 $ — $ — $ 5,470

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Distributions From Tax Perspective	The following table details from a tax perspective, the portion of cash paid for Common Stock dividends, during the years presented, classified as return of capital and ordinary dividend income, per share per annum: Year Ended December 31, (In thousands) 2024 2023 2022 Return of capital $ 1.18 100.0 % $ 1.55 100.0 % $ 1.60 100.0 % Ordinary dividend income — — % — — % — — % Total $ 1.18 100.0 % $ 1.55 100.0 % $ 1.60 100.0 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Base Cash Rental Payments	The following table reflects the base cash rental payments due from the Company as of December 31, 2024: (In thousands) Future Base Rent Payments (1) 2025 $ 3,751 2026 3,895 2027 3,976 2028 4,002 2029 4,023 Thereafter 73,990 Total minimum lease payments (2) 93,637 Less: Effects of discounting (45,304) Total present value of lease payments $ 48,333 (1) Assumes exchange rates of £1.00 to $1.25 for GBP and €1.00 to $1.04 for EUR as of December 31, 2024 for illustrative purposes, as applicable. (2) Ground lease rental payments due for the Company’s ING Amsterdam lease are not included in the table above as the Company’s ground rent for this property is prepaid through 2050.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services	The following table reflects related party fees incurred for the periods presented: Year Ended December 31, 2023 2022 (In thousands) Incurred Incurred Fees (1) : Asset management fees (2) $ 22,803 $ 32,549 Property management fees 5,480 7,573 Total operating fees to related parties $ 28,283 $ 40,122 ______________ (1) The Company incurred general and administrative costs and other expense reimbursements of approximately $1.2 million and $1.1 million for the years ended December 31, 2023 and 2022, respectively, which are recorded within general and administrative expenses on the consolidated statements of operations and are not reflected in the table above. (2) The former Advisor, in accordance with the Advisory Agreement, received asset management fees in ca sh e qual to the annual Minimum Base Management Fee of $18.0 million and the Variable Base Management Fee. The Variable Base Management Fee was $4.8 million and $14.5 million

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Arrangements by Share-based Payment Award	The following table reflects the RSU activity for the periods presented: Number of Weighted-Average Issue Price Unvested, December 31, 2021 44,510 $ 16.47 Granted 24,864 15.18 Vested (21,651) 16.43 Unvested, December 31, 2022 47,723 15.82 Granted (1) 526,788 8.90 Vested (28,439) 15.56 Forfeitures (10,304) 12.62 Unvested, December 31, 2023 535,768 9.09 Granted (2) 978,247 7.48 Vested (232,789) 8.93 Forfeitures (33,047) 8.07 Unvested, December 31, 2024 1,248,179 7.89 _______ (1) Represents 30,252 RSUs granted to the Board and 496,536 RSUs granted to employees of the Company. (2) Represents 142,464 RSUs granted to the Board and 835,783
Schedule of Share-based Payment Arrangement by Restricted Stock Activity	The following table reflects Restricted Shares activity outstanding for the periods presented: Number of Restricted Shares Weighted-Average Issue Price Unvested, December 31, 2021 305,107 $ 18.81 Vested (148,278) 16.56 Granted 230,398 14.60 Forfeitures (27,387) 17.22 Unvested, December 31, 2022 359,840 17.16 Vested (274,850) 16.03 Granted 265,125 10.52 Issued in connection with the REIT Merger 221,136 10.73 Forfeitures (5,631) 11.79 Unvested, December 31, 2023 565,620 12.14 Vested (179,228) 13.01 Granted — — Forfeitures (51,750) 10.83 Unvested, December 31, 2024 334,642 11.88
Schedule of Share Based Compensation Potential Number of PSUs That May Be Earned and Vested at Various Levels of Performance	Level of Performance Threshold Target Maximum Potential Number of PSUs to be Issued 234,200 468,392 1,288,072
Schedule of Share Based Compensation Total Return	The following table details the number of PSUs that may be earned and vested on the PSU Measurement Date, by each category of performance goal: Target PSUs Percentage of Target PSUs Earned Number of PSUs Earned Company TSR Relative to the MSCI REIT Index: Less than 30 th percentile (Below Threshold) 175,647 — % — 30 th percentile (Threshold) (1) 175,647 50 % 87,825 55 th percentile (Target) (1) 175,647 100 % 175,647 Equal to or greater than 75 th percentile (Maximum) (1) 175,647 275 % 483,027 Company TSR Relative to the Custom Net Lease Peer Group: Less than 30 th percentile (Below Threshold) 175,647 — % — 30 th percentile (Threshold) (1) 175,647 50 % 87,825 55 th percentile (Target) (1) 175,647 100 % 175,647 Equal to or greater than 75 th percentile (Maximum) (1) 175,647 275 % 483,027 Company TSR: Less than 8% (Below Threshold) 117,098 — % — 8% (Threshold) (1) 117,098 50 % 58,550 10% (Target) (1) 117,098 100 % 117,098 12% or greater (Maximum) (1) 117,098 275 % 322,018 ________ (1) If amounts fall in between these ranges, the results will be determined using linear interpolation between those percentiles, respectively. With respect to one-half of the GNL LTIP Units granted under the 2021 OPP, the number of GNL LTIP Units that could have become earned was determined as of the last day of the performance period (which was modified to September 11, 2023 as noted above) based on the Company’s achievement of absolute TSR levels as shown in the table below. Under this performance measure, as modified no GNL LTIP Units were earned. Performance Level (% of Absolute GNL LTIP Units Earned) Absolute TSR Number of GNL LTIP Units Earned - 2021 OPP Below Threshold 0 % Less than 24% 0 Threshold 25 % 24% 312,500 Target 50 % 30% 625,000 Maximum 100 % 36% or higher 1,250,000 With respect to the remaining one-half of the GNL LTIP Units granted under the 2021 OPP, the number of GNL LTIP Units that could have become earned was determined as of the last day of the performance period (which was modified to September 11, 2023 as noted above) based on the difference (expressed in terms of basis points, whether positive or negative, as shown in the table below) between the Company’s absolute TSR on the last day of the performance period (which was modified to September 11, 2023 as noted above) relative to the average TSR of a peer group consisting of Lexington Realty Trust, Office Properties Income Trust and W.P. Carey, Inc. as of the last day of the performance period. Under this performance measure, as modified, 883,750 GNL LTIP Units were earned. Performance Level (% of Relative GNL LTIP Units Earned) Relative TSR Excess Number of GNL LTIP Units Earned - 2021 OPP Below Threshold 0 % Less than -600 basis points 0 Threshold 25 % -600 basis points 312,500 Target 50 % 0 basis points 625,000 Maximum 100 % 600 basis points 1,250,000

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the basic and diluted net income per share computation for the periods presented: Year Ended December 31, (In thousands, except share and per share data) 2024 2023 2022 Net loss attributable to common stockholders $ (175,316) $ (239,348) $ (8,363) Adjustments to net loss attributable to common stockholders for common share equivalents (659) (3,887) (939) Adjusted net loss attributable to common stockholders $ (175,975) $ (243,235) $ (9,302) Weighted average common shares outstanding — Basic and Diluted 230,440,385 142,584,332 103,686,395 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.76) $ (1.71) $ (0.09)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table shows common share equivalents on a weighted-average basis that were excluded from the calculation of diluted earnings per share for the years ended December 31, 2024, 2023 and 2022 (see Note 13 — Equity-Based Compensation for additional information on all of the common share equivalents listed in the table below): December 31, 2024 2023 2022 Unvested RSUs (1) 950,936 85,518 45,725 Unvested Restricted Shares (2) 426,651 456,279 371,920 Unvested PSUs (3) 1,288,072 116,456 — Class A Units (4) — 35,233 — GNL LTIP Units (5) — — 2,500,000 Total common share equivalents excluded from EPS calculation 2,665,659 693,486 2,917,645 (1) There w ere 1,248,179, 535,768 and 47,723 unvested RSUs issued and outstanding as of December 31, 2024, 2023 and 2022 , respectively. (2) There were 334,642, 565,620 and 359,840 unvested Restricted Shares issued and outstanding as of December 31, 2024, 2023 and 2022, respectively. (3) There were 1,288,072 PSUs outstanding as of December 31, 2024 and 2023. (4) There were no Class A Units outstanding as of December 31, 2024 and 115,857 Class A Units outstanding as of December 31, 2023. (5) As disclosed in Note 13 — Equity-Based Compensation

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Real Estate Investments by Location	The following table provides operating financial information for the Company’s four reportable segments: Year Ended December 31, (In thousands) 2024 2023 (1) 2022 (1) Industrial & Distribution: Revenue from tenants $ 237,645 $ 220,102 $ 211,533 Property operating expense 21,820 15,457 13,682 Net Operating Income $ 215,825 $ 204,645 $ 197,851 Multi-Tenant Retail: Revenue from tenants $ 259,280 $ 79,799 $ — Property operating expense 86,025 26,951 — Net Operating Income $ 173,255 $ 52,848 $ — Single-Tenant Retail: Revenue from tenants $ 164,514 $ 65,478 $ 17,170 Property operating expense 15,787 6,045 1,200 Net Operating Income $ 148,727 $ 59,433 $ 15,970 Office: Revenue from tenants $ 143,571 $ 149,691 $ 150,154 Property operating expense 18,865 19,386 17,995 Net Operating Income $ 124,706 $ 130,305 $ 132,159 ________ (1) Amounts in the Single-Tenant Retail segment and Office segment reflect changes to the reclassification of one tenant from the Office segment to the Single-Tenant Retail segment to conform to the current year presentation based on a re-evaluation of the property type. Year Ended December 31, (In thousands) 2024 2023 2022 Revenue from tenants: United States $ 655,831 $ 365,092 $ 234,363 United Kingdom 84,678 86,916 78,403 Europe 61,322 59,823 62,852 Canada 3,179 3,239 3,239 Total $ 805,010 $ 515,070 $ 378,857 December 31, (In thousands) 2024 2023 Investments in real estate, gross: United States $ 6,137,882 $ 7,082,979 United Kingdom 799,624 903,816 Europe 554,133 629,988 Canada 36,292 39,361 Total $ 7,527,931 $ 8,656,144 Acquired Intangible Liabilities, Gross United States $ 91,936 $ 101,342 United Kingdom 5,279 5,698 Europe 10,669 12,961 Canada 19 21 Total $ 107,903 $ 120,022
Schedule of Reconciliation of Revenue from Segments to Consolidated	A reconciliation of the total reportable segment's revenue from tenants to consolidated revenue from tenants and the total reportable segment’s income to consolidated net (loss) income attributable to common stockholders is as follows: Year Ended December 31, (In thousands) 2024 2023 (1) 2022 (1) Revenue From Tenants: Industrial & Distribution $ 237,645 $ 220,102 $ 211,533 Multi-Tenant Retail 259,280 79,799 — Single-Tenant Retail 164,514 65,478 17,170 Office 143,571 149,691 150,154 Total Consolidated Revenue From Tenants $ 805,010 $ 515,070 $ 378,857 Net loss before income tax and net loss attributable to common stockholders: Net Operating Income: Industrial & Distribution $ 215,825 $ 204,645 $ 197,851 Multi-Tenant Retail 173,255 52,848 — Single-Tenant Retail 148,727 59,433 15,970 Office 124,706 130,305 132,159 Total net operating income 662,513 447,231 345,980 Operating fees to related parties — (28,283) (40,122) Impairment charges (90,410) (68,684) (21,561) Merger, transaction and other costs (6,026) (54,492) (244) Settlement costs — (29,727) — General and administrative (57,734) (40,187) (17,737) Equity-based compensation (8,931) (17,297) (12,072) Depreciation and amortization (349,943) (222,271) (154,026) Gain (loss) on dispositions of real estate investments 57,015 (1,672) 325 Interest expense (326,932) (179,411) (97,510) Loss on extinguishment and modification of debt (15,877) (1,221) (2,040) Gain (loss) on derivative instruments 4,229 (3,691) 18,642 Unrealized gains on undesignated foreign currency advances and other hedge ineffectiveness 3,249 — 2,439 Other income 1,720 2,270 981 Net loss before income tax (127,127) (197,435) 23,055 Income tax expense (4,445) (14,475) (11,032) Net loss (131,572) (211,910) 12,023 Preferred stock dividends (43,744) (27,438) (20,386) Net loss attributable to common stockholders $ (175,316) $ (239,348) $ (8,363) ________ (1)
Schedule of Reconciliation of Assets from Segment to Consolidated	The following table reconciles real estate investments, net by segment to consolidated total assets as of the periods presented: December 31, (In thousands) 2024 2023 (2) Investments in real estate, net: Industrial & Distribution $ 2,180,309 $ 2,479,804 Multi-Tenant Retail 1,743,598 2,174,064 Single-Tenant Retail 1,400,271 1,740,347 Office 1,039,124 1,178,105 Total investments in real estate, net 6,363,302 7,572,320 Assets held for sale 17,406 3,188 Cash and cash equivalents 159,698 121,566 Restricted cash 64,510 40,833 Derivative assets, at fair value 2,471 10,615 Unbilled straight line rent 99,501 84,254 Operating lease right-of-use asset 74,270 77,008 Prepaid expenses and other assets 108,562 121,997 Deferred tax assets 4,866 4,808 Goodwill (1) 51,370 46,976 Deferred financing costs, net 9,808 15,412 Total assets $ 6,955,764 $ 8,098,977 ________ (1) In connection with the Company’s conclusion that it now operates in four reportable segments, the Company’s goodwill allocation by segment is as follows as of December 31, 2024: (1) Industrial & Distribution: $22.1 million; (2) Multi-Tenant Retail: $7.1 million; (3) Single-Tenant Retail: $7.9 million; and (4) Office: $14.2 million. (2)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The components of income tax expense for the periods presented are as follows: Year Ended December 31, (In thousands) 2024 2023 2022 Net (Loss) Income Before Income Tax: Domestic $ (123,188) $ (118,447) $ 64,592 Foreign (3,939) (78,988) (41,537) Total net (loss) income before tax $ (127,127) $ (197,435) $ 23,055 Income Taxes: Current: State and Local $ 134 $ 199 $ 175 Foreign 4,569 16,656 12,814 Total income taxes, current 4,703 16,855 12,989 Deferred: State and Local — — — Foreign (258) (2,380) (1,957) Total income taxes, deferred (258) (2,380) (1,957) Total Income Tax Expense $ 4,445 $ 14,475 $ 11,032
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of effective income tax for the periods presented are as follows: Year Ended December 31, (In thousands) 2024 2023 2022 Net (loss) income before income tax $ (127,127) $ (197,435) $ 23,055 Tax (benefit) provision at statutory rates $ (26,651) $ (41,461) $ 4,842 Foreign rate differential (295) 1,139 (730) Foreign financing activities 7,721 11,047 11,320 Tax adjustments related to REIT 25,871 24,874 (13,565) Deferred tax assets generated in the current year added to valuation allowance (1,388) 5,949 9,297 Other (813) 12,927 (132) Total income tax expense $ 4,445 $ 14,475 $ 11,032
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes as of the periods presented consists of the following: December 31, (In thousands) 2024 2023 Deferred Tax Assets Basis differences $ 14,924 $ 11,278 Net operating loss carryforwards 3,205 5,028 Total deferred tax assets 18,129 16,306 Valuation allowance (13,263) (11,498) Net deferred tax assets 4,866 4,808 Deferred Tax Liabilities Basis differences (4,170) (4,552) Straight-line rent (1,307) (1,457) Total deferred tax liabilities (5,477) (6,009) Net Deferred Tax Liability $ (611) $ (1,201)

Organization (Details)

Organization (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2024 ft² property segment
Operations [Line Items]
Number of Properties | property	1,121
Square Feet (unaudited) | ft²	60.7
Occupancy rate	97%
Weighted average remaining lease term	6 years 2 months 12 days
Number of reportable segments (segment) | segment	4
Industrial and Distribution Properties
Operations [Line Items]
Portfolio investment percentage	34%
Multi-Tenant Retail
Operations [Line Items]
Portfolio investment percentage	28%
Single-Tenant Retail
Operations [Line Items]
Portfolio investment percentage	21%
Office
Operations [Line Items]
Portfolio investment percentage	17%
United States and Canada
Operations [Line Items]
Entity wide revenue percentage	80%
Europe
Operations [Line Items]
Percentage of portfolio investments	20%
REIT Merger
Operations [Line Items]
Number of properties purchased | property	989
REIT Merger and Internalization Merger
Operations [Line Items]
Number of reportable segments (segment) | segment	4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, £ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 31, 2022 GBP (£)	Dec. 31, 2024 USD ($) property segment parcelOfLand $ / shares	Dec. 31, 2023 USD ($) parcelOfLand property $ / shares	Dec. 31, 2022 USD ($)	Feb. 25, 2025 property	Sep. 12, 2023 $ / shares	Sep. 03, 2021 USD ($)	Sep. 03, 2021 GBP (£)
Summary Of Significant Accounting Policies [Line Items]
Weighted average remaining lease term			6 years 2 months 12 days
Straight-line rents receivable			$ 99,501,000	$ 84,254,000
Unbilled rental revenue			19,150,000	10,396,000	$ 9,608,000
Reduction of revenue			3,400,000	3,500,000	700,000
Revenue from lease termination			$ 0	$ 0	(8,558,000)
Properties presented as discontinued operations | property			0	0
Number of real estate properties held for sale | property			13	2
Number of parcels of land leased | parcelOfLand			2	2
Finance lease, carrying value			$ 6,700,000	$ 6,600,000
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]			Prepaid expenses and other assets	Prepaid expenses and other assets
Income			$ 700,000	$ 200,000
Useful life, buildings			40 years
Useful life, land and building improvements			15 years
Useful life, fixtures and improvements			5 years
Cash and cash equivalents			$ 159,700,000	121,600,000
Cash in excess of FDIC limit			88,000,000	47,000,000
Cash in excess of FSCS limit			30,100,000	32,800,000
Cash in excess of European limits			23,500,000	26,600,000
Restricted cash			64,510,000	$ 40,833,000	$ 1,110,000
Cash-collateralized			8,400,000
Goodwill impairment			$ 0
Number of Properties | property			1,121
Common stock, par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01			$ 0.01
Number of reportable segments (segment) | segment			4
Discontinued Operations, Held-for-Sale or Disposed of by Sale | Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Number of Properties | property						59
Discontinued Operations, Held-for-Sale or Disposed of by Sale | RCG Multi-Tenant Retail Assets | Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Number of Properties | property						100
Common Stock
Summary Of Significant Accounting Policies [Line Items]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01
Minimum
Summary Of Significant Accounting Policies [Line Items]
Lease-up period			12 months
Maximum
Summary Of Significant Accounting Policies [Line Items]
Lease-up period			18 months
One Tenant Lease Termination
Summary Of Significant Accounting Policies [Line Items]
Lease termination								$ 9,000,000	£ 6.7
Revenue from lease termination	$ 300,000	£ 0.2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Future Minimum Base Rent Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2024 $ / £	Dec. 31, 2024 $ / €	Dec. 31, 2024 $ / $	Dec. 31, 2023 $ / £	Dec. 31, 2023 $ / €	Dec. 31, 2023 $ / $
Accounting Policies [Abstract]
2025	$ 613,629
2026	583,387
2027	525,984
2028	469,136
2029	388,650
Thereafter	1,760,390
Total	$ 4,341,176
Foreign currency exchange rate (GBP, EUR, CAD per USD)		1.25	1.04	0.70	1.27	1.10	0.75

The Mergers - Narrative (Detail

The Mergers - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 12, 2023	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 26, 2024	May 11, 2023
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	$ 0.01				$ 0.01	$ 0.01
Merger, transaction and other costs					$ 6,026	$ 54,492	$ 244
Financial Advisor
Business Acquisition [Line Items]
Merger, transaction and other costs				$ 300
Series A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, dividend rate					7.25%	7.25%
Preferred stock, par value (in dollars per share)					$ 0.01	$ 0.01
Series D Preferred Stock
Business Acquisition [Line Items]
Preferred stock, dividend rate					7.50%	7.50%
Preferred stock, par value (in dollars per share)					$ 0.01	$ 0.01
Series C Preferred Stock
Business Acquisition [Line Items]
Preferred stock, par value (in dollars per share)						$ 0.01		$ 0.01
Series E Preferred Stock
Business Acquisition [Line Items]
Preferred stock, dividend rate					7.375%	7.375%
Preferred stock, par value (in dollars per share)					$ 0.01	$ 0.01
REIT Merger | Financial Advisor
Business Acquisition [Line Items]
Proposed transactions aggregate fee		$ 27,000
Payments of merger related costs			$ 3,000
REIT Merger | Common Class A
Business Acquisition [Line Items]
Exchange ratio, shares (in shares)	0.670
REIT Merger | Common Class A | RTL
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
REIT Merger | Series A Preferred Stock | RTL
Business Acquisition [Line Items]
Preferred stock, dividend rate	7.50%
Preferred stock, par value (in dollars per share)	$ 0.01
REIT Merger | Series D Preferred Stock
Business Acquisition [Line Items]
Exchange ratio, shares (in shares)	1
Preferred stock, dividend rate	7.50%
Preferred stock, par value (in dollars per share)	$ 0.01
Fair value of stock issued to holders of RTL shares (in shares)	7,933,711
REIT Merger | Series C Preferred Stock | RTL
Business Acquisition [Line Items]
Preferred stock, dividend rate	7.375%
Preferred stock, par value (in dollars per share)	$ 0.01
REIT Merger | Series E Preferred Stock
Business Acquisition [Line Items]
Exchange ratio, shares (in shares)	1
Preferred stock, dividend rate	7.375%
Preferred stock, par value (in dollars per share)	$ 0.01
Fair value of stock issued to holders of RTL shares (in shares)	4,595,175
Internalization Merger
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)									$ 10.97
Fair value of stock issued to holders of RTL shares (in shares)	29,614,825
Considered value of common stock to be issued	$ 325,000
Cash consideration paid to AR Global	50,000
Internalization Merger | Financial Advisor
Business Acquisition [Line Items]
Payments of merger related costs			1,000
REIT Merger and Internalization Merger
Business Acquisition [Line Items]
Cash consideration paid to AR Global	$ 50,000
REIT Merger and Internalization Merger | Financial Advisor
Business Acquisition [Line Items]
Proposed transactions aggregate fee			$ 30,000
REIT Merger and Internalization Merger | Series D Preferred Stock
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	7,933,711
REIT Merger and Internalization Merger | Series E Preferred Stock
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	4,595,175

The Mergers - Fair Value of Con

The Mergers - Fair Value of Consideration Transferred (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 12, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Total equity consideration		$ 0	$ 1,617,015	$ 0
Cash used to repay RTL’s credit facility at closing of the REIT Merger		$ 808,620	$ 0	$ 0
REIT Merger and Internalization Merger
Business Acquisition [Line Items]
Total equity consideration	$ 1,617,015
Cash consideration paid to AR Global	50,000
Total consideration transferred	2,133,015
REIT Merger
Business Acquisition [Line Items]
Cash used to repay RTL’s credit facility at closing of the REIT Merger	$ 466,000
Internalization Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	29,614,825
Cash consideration paid to AR Global	$ 50,000
Considered value of common stock to be issued	$ 325,000
Common Stock | REIT Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	209,906
Price Used to Calculate Fair Value (in dollars per share)	$ 11.11
Total equity consideration	$ 2,332
Common Stock | Internalization Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	29,614,825
Price Used to Calculate Fair Value (in dollars per share)	$ 11.11
Total equity consideration	$ 329,021
Class A Units | REIT Merger and Internalization Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	115,857
Class A Units | REIT Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	115,857
Price Used to Calculate Fair Value (in dollars per share)	$ 11.11
Total equity consideration	$ 1,287
Common Class A | REIT Merger
Business Acquisition [Line Items]
Exchange ratio, shares (in shares)	0.670
Common Class A | Common Stock | REIT Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	93,432,946
Price Used to Calculate Fair Value (in dollars per share)	$ 11.11
Total equity consideration	$ 1,038,040
Series D Preferred Stock | REIT Merger and Internalization Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	7,933,711
Series D Preferred Stock | REIT Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	7,933,711
Price Used to Calculate Fair Value (in dollars per share)	$ 19.61
Total equity consideration	$ 155,580
Exchange ratio, shares (in shares)	1
Series E Preferred Stock | REIT Merger and Internalization Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	4,595,175
Series E Preferred Stock | REIT Merger
Business Acquisition [Line Items]
Fair value of stock issued to holders of RTL shares (in shares)	4,595,175
Price Used to Calculate Fair Value (in dollars per share)	$ 19.75
Total equity consideration	$ 90,755
Exchange ratio, shares (in shares)	1

The Mergers - Assets Acquired a

The Mergers - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		12 Months Ended	16 Months Ended
	Sep. 12, 2023	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Assets Acquired:
Goodwill		$ 51,370	$ 51,370	$ 46,976
REIT Merger, OP Merger, And Internalization Merger
Assets Acquired:
Land	$ 954,967	955,582	955,582	955,582
Measurement Period Adjustments, Land			615
Buildings, fixtures and improvements	2,526,810	2,527,159	2,527,159	2,527,159
Measurement Period Adjustments, Buildings, fixtures and improvements			349
Total tangible assets	3,481,777	3,482,741	3,482,741	3,482,741
Measurement Period Adjustments, Total tangible assets			964
Total acquired intangible lease assets	650,193	649,198	649,198	649,198
Measurement Period Adjustments, Total acquired intangible lease assets			(995)
Cash	65,223	64,616	64,616	64,616
Measurement Period Adjustments, Cash			(607)
Operating lease right-of-use assets	26,407	26,417	26,417	26,417
Measurement Period Adjustments, Operating lease right-of-use assets			10
Prepaid expenses and other assets	60,862	59,160	59,160	59,160
Measurement Period Adjustments, Prepaid Expense and Other Assets			(1,702)
Goodwill	29,817	30,457	30,457	30,457
Measurement Period Adjustments, Goodwill			640
Total assets acquired	4,314,279	4,312,589	4,312,589	4,312,589
Measurement Period Adjustments, Total assets acquired			(1,690)
Liabilities Assumed:
Mortgage notes payable, net	1,587,455	1,587,455	1,587,455	1,587,455
Measurement Period Adjustments, Mortgage notes payable, net			0
Senior notes, net	386,250	386,250	386,250	386,250
Measurement Period Adjustments, Senior notes, net			0
Acquired intangible lease liabilities	76,682	76,685	76,685	76,685
Measurement Period Adjustments, Acquired intangible lease liabilities			3
Accounts payable and accrued expenses	86,031	84,368	84,368	84,368
Measurement Period Adjustments, Accounts payable and accrued expenses			(1,663)
Operating lease liabilities	26,407	26,377	26,377	26,377
Measurement Period Adjustments, Operating lease liabilities			(30)
Prepaid rent	18,439	18,439	18,439	18,439
Measurement Period Adjustments, Prepaid rent			0
Total liabilities assumed	2,181,264	2,179,574	2,179,574	2,179,574
Measurement Period Adjustments, Total liabilities assumed			(1,690)
Total consideration transferred	2,133,015	2,133,015
Measurement Period Adjustments, Total consideration transferred			0
REIT Merger, OP Merger, And Internalization Merger | In-place leases
Assets Acquired:
Total acquired intangible lease assets	582,475	581,430	581,430	581,430
Measurement Period Adjustments, Total acquired intangible lease assets			(1,045)
REIT Merger, OP Merger, And Internalization Merger | Above-market lease assets
Assets Acquired:
Total acquired intangible lease assets	$ 67,718	$ 67,768	67,768	$ 67,768
Measurement Period Adjustments, Total acquired intangible lease assets			$ 50

The Mergers - Actual and Pro Fo

The Mergers - Actual and Pro Forma Impact (Details) - REIT Merger and Internalization Merger - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Revenue from tenants	$ 132,506
Net loss	$ (22,735)
Pro Forma Revenue from tenants		$ 815,803	$ 819,991
Pro Forma Net loss		$ (347,046)	$ (89,796)

Real Estate Investments, Net -

Real Estate Investments, Net - Assets Acquired and Liabilities Assumed (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property	Sep. 12, 2023 USD ($)
Business Combination
Goodwill	$ 51,370	$ 46,976
Equity issued in business combination	0	1,617,015	$ 0
Asset Acquisitions
Land			4,176
Buildings, fixtures and improvements			25,938
Total tangible assets			30,114
Total intangible assets and liabilities			3,780
Cash			0
Right-of-use asset			0
Prepaid expenses and other assets			0
Goodwill			0
Total assets acquired			33,894
Mortgage note payable			0
Senior notes, net			0
Acquired intangible lease liabilities			0
Accounts payable and accrued expenses			0
Operating lease liabilities			0
Prepaid rent			0
Total liabilities assumed			0
Equity issued in acquisitions			0
Cash paid for acquired real estate investments			$ 33,894
Number of properties purchased | property			3
REIT Merger, OP Merger, And Internalization Merger
Total
Land		965,123
Buildings, fixtures and improvements		2,600,309
Total tangible assets		3,565,432
Total intangible assets and liabilities		699,393
Cash		64,616
Right-of-use asset		27,843
Prepaid expenses and other assets		59,160
Goodwill		30,457
Total assets acquired		4,446,901
Mortgage note payable		1,587,455
Senior notes, net		386,250
Acquired intangible lease liabilities		76,896
Accounts payable and accrued expenses		84,368
Operating lease liabilities		26,377
Prepaid rent		18,439
Total liabilities assumed		2,179,785
Equity issued in acquisitions		1,617,015
Cash paid for acquired real estate investments		$ 650,101
Number of properties purchased | property		998
REIT Merger, OP Merger, And Internalization Merger
Asset Acquisitions
Land		$ 9,541
Buildings, fixtures and improvements		73,150
Total tangible assets		82,691
Total intangible assets and liabilities		50,195
Cash		0
Right-of-use asset		1,426
Prepaid expenses and other assets		0
Goodwill		0
Total assets acquired		134,312
Mortgage note payable		0
Senior notes, net		0
Acquired intangible lease liabilities		211
Accounts payable and accrued expenses		0
Operating lease liabilities		0
Prepaid rent		0
Total liabilities assumed		211
Equity issued in acquisitions		0
Cash paid for acquired real estate investments		$ 134,101
Number of properties purchased | property		9
In-place leases
Asset Acquisitions
Total intangible assets and liabilities			$ 4,010
In-place leases | REIT Merger, OP Merger, And Internalization Merger
Total
Total intangible assets and liabilities		$ 590,661
In-place leases | REIT Merger, OP Merger, And Internalization Merger
Asset Acquisitions
Total intangible assets and liabilities		9,231
Above-market lease assets
Asset Acquisitions
Total intangible assets and liabilities			0
Above-market lease assets | REIT Merger, OP Merger, And Internalization Merger
Total
Total intangible assets and liabilities		108,732
Above-market lease assets | REIT Merger, OP Merger, And Internalization Merger
Asset Acquisitions
Total intangible assets and liabilities		40,964
Below-market lease liabilities
Asset Acquisitions
Total intangible assets and liabilities			$ 230
Below-market lease liabilities | REIT Merger, OP Merger, And Internalization Merger
Total
Total intangible assets and liabilities		0
Below-market lease liabilities | REIT Merger, OP Merger, And Internalization Merger
Asset Acquisitions
Total intangible assets and liabilities		0
REIT Merger, OP Merger, And Internalization Merger
Business Combination
Land	955,582	955,582		$ 954,967
Buildings, fixtures and improvements	2,527,159	2,527,159		2,526,810
Total tangible assets	3,482,741	3,482,741		3,481,777
Total intangible assets and liabilities	649,198	649,198		650,193
Cash	64,616	64,616		65,223
Right-of-use asset	26,417	26,417		26,407
Prepaid expenses and other assets	59,160	59,160		60,862
Goodwill	30,457	30,457		29,817
Total assets acquired	4,312,589	4,312,589		4,314,279
Mortgage note payable	1,587,455	1,587,455		1,587,455
Senior notes, net	386,250	386,250		386,250
Acquired intangible lease liabilities	76,685	76,685		76,682
Accounts payable and accrued expenses	84,368	84,368		86,031
Operating lease liabilities	26,377	26,377		26,407
Prepaid rent	18,439	18,439		18,439
Total liabilities assumed	2,179,574	2,179,574		2,181,264
Equity issued in business combination		1,617,015
Cash paid for acquired real estate investments		$ 516,000
Number of properties purchased | property		989
REIT Merger, OP Merger, And Internalization Merger | In-place leases
Business Combination
Total intangible assets and liabilities	581,430	$ 581,430		582,475
REIT Merger, OP Merger, And Internalization Merger | Above-market lease assets
Business Combination
Total intangible assets and liabilities	$ 67,768	67,768		$ 67,718
REIT Merger, OP Merger, And Internalization Merger | Below-market lease liabilities
Business Combination
Total intangible assets and liabilities		$ 0

Real Estate Investments, Net _2

Real Estate Investments, Net - Acquisition by Property Type (Details)	Dec. 31, 2024 ft² property	Dec. 31, 2023 ft² property	Dec. 31, 2022 ft² property
Real Estate Properties [Line Items]
Number of Properties | property	1,121
Square Feet (unaudited) | ft²	60,700,000
Properties Acquired In 2023
Real Estate Properties [Line Items]
Number of Properties | property		998
Square Feet (unaudited) | ft²		27,907,673
Properties Acquired In 2022
Real Estate Properties [Line Items]
Number of Properties | property			3
Square Feet (unaudited) | ft²			299,226
Industrial & Distribution | Properties Acquired In 2023
Real Estate Properties [Line Items]
Number of Properties | property		31
Square Feet (unaudited) | ft²		4,085,826
Industrial & Distribution | Properties Acquired In 2022
Real Estate Properties [Line Items]
Number of Properties | property			2
Square Feet (unaudited) | ft²			232,600
Multi-Tenant Retail | Properties Acquired In 2023
Real Estate Properties [Line Items]
Number of Properties | property		109
Square Feet (unaudited) | ft²		16,375,661
Multi-Tenant Retail | Properties Acquired In 2022
Real Estate Properties [Line Items]
Number of Properties | property			0
Square Feet (unaudited) | ft²			0
Single-Tenant Retail | Properties Acquired In 2023
Real Estate Properties [Line Items]
Number of Properties | property		851
Square Feet (unaudited) | ft²		7,140,274
Single-Tenant Retail | Properties Acquired In 2022
Real Estate Properties [Line Items]
Number of Properties | property			0
Square Feet (unaudited) | ft²			0
Office | Properties Acquired In 2023
Real Estate Properties [Line Items]
Number of Properties | property		7
Square Feet (unaudited) | ft²		305,912
Office | Properties Acquired In 2022
Real Estate Properties [Line Items]
Number of Properties | property			1
Square Feet (unaudited) | ft²			66,626

Real Estate Investments, Net _3

Real Estate Investments, Net - Narrative (Details) $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2024 USD ($) property	Sep. 30, 2024 USD ($) property	Jun. 30, 2024 USD ($) property	Mar. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Sep. 30, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges | $	$ 20,100	$ 38,600	$ 27,400	$ 4,300			$ 4,500	$ 800	$ 16,000	$ 90,410	$ 68,684	$ 21,561
Number of properties with adjusted carrying value	23					4						3
Number of properties sold (property)	21
Impairment intangible asset statement of income or comprehensive income extensible enumeration not disclosed flag				impairment charge
Impairment charges on intangible assets | $										2,500
Gain (loss) on dispositions of real estate investments | $						$ 65,700				$ 57,015	$ (1,672)	$ 325
Property sales price | $												56,000
Number of real estate properties held for sale										13	2
In-place leases
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges on intangible assets | $										$ 1,500	$ 1,000	500
Above-market lease assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges on intangible assets | $										1,000	800
Below-market lease liabilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges on intangible assets | $												200
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on dispositions of real estate investments | $										$ 57,000	$ (1,700)	$ 300
Disposal Group, Disposed of by Sale, Not Discontinued Operations | REIT Merger
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold (property)										178	11
Number of real estate properties acquired										164	10
Properties Sold In 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold (property)												3
United States
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties with adjusted carrying value	21	21	6	6	2
Number of properties sold (property)						3						1
Impairment charges on intangible assets | $					$ 1,200
United States | REIT Merger
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties with adjusted carrying value	20	19	3
United Kingdom
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties with adjusted carrying value	2
Number of properties sold (property)						1						1
France
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold (property)												1
Scotland
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties with adjusted carrying value					1
Impairment charges on intangible assets | $					$ 1,800

Real Estate Investments, Net _4

Real Estate Investments, Net - Schedule of Real Estate Dispositions (Details)														1 Months Ended											2 Months Ended		3 Months Ended	4 Months Ended	5 Months Ended		7 Months Ended	8 Months Ended	10 Months Ended	12 Months Ended
	Dec. 22, 2023 ft² property	Dec. 06, 2023 ft² property	Dec. 01, 2023 ft² property	Nov. 13, 2023 ft² property	Nov. 03, 2023 ft² property	Nov. 01, 2023 ft² property	Oct. 19, 2023 ft² property	Oct. 13, 2023 ft² property	Sep. 21, 2023 ft² property	Sep. 13, 2023 ft² property	Nov. 30, 2022 ft² property	Jul. 25, 2022 ft² property	May 06, 2022 ft² property	Dec. 31, 2024 ft² property	Nov. 30, 2024 ft² property	Oct. 31, 2024 ft² property	Sep. 30, 2024 ft² property	Aug. 31, 2024 ft² property	Jul. 31, 2024 ft² property	Jun. 30, 2024 ft² property	May 31, 2024 ft² property	Apr. 30, 2024 ft² property	Mar. 31, 2024 ft² property	Feb. 29, 2024 ft² property	Dec. 31, 2024 ft² property	Nov. 30, 2024 ft² property	Dec. 31, 2024 ft² property	Dec. 31, 2024 ft² property	Nov. 30, 2024 ft² property	Sep. 30, 2024 ft² property	Nov. 30, 2024 ft² property	Sep. 30, 2024 ft² property	Nov. 30, 2024 ft² property	Dec. 31, 2024 ft² property	Dec. 31, 2023 ft² property	Dec. 31, 2022 ft² property
Real Estate [Line Items]
Number of properties sold (property) | property																											21
Square Feet (unaudited) | ft²														60,700,000											60,700,000		60,700,000	60,700,000						60,700,000
Properties Sold In 2024
Real Estate [Line Items]
Number of properties sold (property) | property																																		178
Square Feet (unaudited) | ft²														6,404,369											6,404,369		6,404,369	6,404,369						6,404,369
O’Charley’s, AL, IN, TN, MS, NC, GA, KY, OH, TN, IL, LA
Real Estate [Line Items]
Number of properties sold (property) | property																																	18
Square Feet (unaudited) | ft²															120,599											120,599			120,599		120,599		120,599
Truist Bank, FL, GA, TN, NC, SC, VA, OH, FL
Real Estate [Line Items]
Number of properties sold (property) | property																																23
Square Feet (unaudited) | ft²																	96,538													96,538		96,538
Fife Council, United Kingdom
Real Estate [Line Items]
Number of properties sold (property) | property																								1
Square Feet (unaudited) | ft²																								37,331
TOMs King, IL, OH & PA
Real Estate [Line Items]
Number of properties sold (property) | property																																	6
Square Feet (unaudited) | ft²															24,211											24,211			24,211		24,211		24,211
FedEx, MN
Real Estate [Line Items]
Number of properties sold (property) | property																							1
Square Feet (unaudited) | ft²																							11,501
Amazon, KY
Real Estate [Line Items]
Number of properties sold (property) | property																					1
Square Feet (unaudited) | ft²																					79,105
American Car Center, AL, GA, KY, SC, TN, AR
Real Estate [Line Items]
Number of properties sold (property) | property																															7
Square Feet (unaudited) | ft²															64,962											64,962			64,962		64,962		64,962
AmeriCold, GA, IL, MN, SC
Real Estate [Line Items]
Number of properties sold (property) | property																				9
Square Feet (unaudited) | ft²																				1,407,166
CVS, MI
Real Estate [Line Items]
Number of properties sold (property) | property																				1
Square Feet (unaudited) | ft²																				10,880
Decatur Commons, AL
Real Estate [Line Items]
Number of properties sold (property) | property																					1
Square Feet (unaudited) | ft²																					125,635
Diebold, OH
Real Estate [Line Items]
Number of properties sold (property) | property																				1
Square Feet (unaudited) | ft²																				158,330
Klaussner, NC, VA
Real Estate [Line Items]
Number of properties sold (property) | property																														2
Square Feet (unaudited) | ft²																	1,244,737													1,244,737		1,244,737
Shippensburg Marketplace, PA
Real Estate [Line Items]
Number of properties sold (property) | property																						1
Square Feet (unaudited) | ft²																						59,866
Springfield Commons, OH
Real Estate [Line Items]
Number of properties sold (property) | property																				1
Square Feet (unaudited) | ft²																				164,843
Family Dollar, CO & AR & LA
Real Estate [Line Items]
Number of properties sold (property) | property																													4
Square Feet (unaudited) | ft²															32,988											32,988			32,988		32,988		32,988
Shops at Abilene, TX
Real Estate [Line Items]
Number of properties sold (property) | property																			1
Square Feet (unaudited) | ft²																			175,642
HEB Center, TX
Real Estate [Line Items]
Number of properties sold (property) | property																			1
Square Feet (unaudited) | ft²																			130,127
East West Commons, GA
Real Estate [Line Items]
Number of properties sold (property) | property																		1
Square Feet (unaudited) | ft²																		173,205
Johnson Controls, Spain
Real Estate [Line Items]
Number of properties sold (property) | property																		1
Square Feet (unaudited) | ft²																		29,095
Imperial, AL
Real Estate [Line Items]
Number of properties sold (property) | property																		1
Square Feet (unaudited) | ft²																		10,022
Foster Wheeler, United Kingdom
Real Estate [Line Items]
Number of properties sold (property) | property																		1
Square Feet (unaudited) | ft²																		365,832
The Plant, OH
Real Estate [Line Items]
Number of properties sold (property) | property																		1
Square Feet (unaudited) | ft²																		367,926
Joe's Crab Shack, NC
Real Estate [Line Items]
Number of properties sold (property) | property																	1
Square Feet (unaudited) | ft²																	7,903													7,903		7,903
Trinity/Valasis, MI
Real Estate [Line Items]
Number of properties sold (property) | property																	2
Square Feet (unaudited) | ft²																	276,621													276,621		276,621
Plasma, NV, PA & TX
Real Estate [Line Items]
Number of properties sold (property) | property																												3
Square Feet (unaudited) | ft²														36,607											36,607		36,607	36,607						36,607
Epredia, MI
Real Estate [Line Items]
Number of properties sold (property) | property																	1
Square Feet (unaudited) | ft²																	114,700													114,700		114,700
Pizza Hut, GA, NC, NY, MT, OH, VA, IL, KY, UT, TX, OK, WY, CO
Real Estate [Line Items]
Number of properties sold (property) | property																											36
Square Feet (unaudited) | ft²														108,042											108,042		108,042	108,042						108,042
Taco Johns, MN & ID
Real Estate [Line Items]
Number of properties sold (property) | property																2
Square Feet (unaudited) | ft²																3,814
Hardees, AL
Real Estate [Line Items]
Number of properties sold (property) | property																1
Square Feet (unaudited) | ft²																3,812
Burger King, OH
Real Estate [Line Items]
Number of properties sold (property) | property																										2
Square Feet (unaudited) | ft²															6,323											6,323			6,323		6,323		6,323
Sterling Slidel, LA
Real Estate [Line Items]
Number of properties sold (property) | property																									2
Square Feet (unaudited) | ft²														333,769											333,769		333,769	333,769						333,769
Checkers, GA
Real Estate [Line Items]
Number of properties sold (property) | property															1
Square Feet (unaudited) | ft²															1,065											1,065			1,065		1,065		1,065
Freesenius, AL, FL, GA, IL, IN, KY, ME, MI, MO, MS, MT, NC, NH, NJ, OH, PA, SC & VA
Real Estate [Line Items]
Number of properties sold (property) | property														35
Square Feet (unaudited) | ft²														293,763											293,763		293,763	293,763						293,763
Poplar Springs, SC
Real Estate [Line Items]
Number of properties sold (property) | property														1
Square Feet (unaudited) | ft²														64,078											64,078		64,078	64,078						64,078
Mister Car Wash, GA
Real Estate [Line Items]
Number of properties sold (property) | property														5
Square Feet (unaudited) | ft²														20,310											20,310		20,310	20,310						20,310
GE Aviation, OH
Real Estate [Line Items]
Number of properties sold (property) | property														1
Square Feet (unaudited) | ft²														102,000											102,000		102,000	102,000						102,000
Home Depot, CA
Real Estate [Line Items]
Number of properties sold (property) | property														1
Square Feet (unaudited) | ft²														141,021											141,021		141,021	141,021						141,021
Properties Sold In 2023
Real Estate [Line Items]
Number of properties sold (property) | property																																			11
Square Feet (unaudited) | ft²																																			344,041
American Car Center, Florida
Real Estate [Line Items]
Number of properties sold (property) | property										1
Square Feet (unaudited) | ft²										47,927
American Car Center, Mississippi
Real Estate [Line Items]
Number of properties sold (property) | property									1
Square Feet (unaudited) | ft²									29,919
TOMs King, Ohio
Real Estate [Line Items]
Number of properties sold (property) | property								1
Square Feet (unaudited) | ft²								4,798
American Car Center, Georgia
Real Estate [Line Items]
Number of properties sold (property) | property							1
Square Feet (unaudited) | ft²							6,425
TOMs King, Ohio
Real Estate [Line Items]
Number of properties sold (property) | property						1
Square Feet (unaudited) | ft²						4,014
American Car Center, Mississippi
Real Estate [Line Items]
Number of properties sold (property) | property					1
Square Feet (unaudited) | ft²					4,889
Truist Bank, North Carolina
Real Estate [Line Items]
Number of properties sold (property) | property				1
Square Feet (unaudited) | ft²				4,156
American Car Center, Alabama
Real Estate [Line Items]
Number of properties sold (property) | property			1
Square Feet (unaudited) | ft²			3,096
Family Dollar, Kentucky
Real Estate [Line Items]
Number of properties sold (property) | property		1
Square Feet (unaudited) | ft²		8,050
O'Charley's, South Carolina
Real Estate [Line Items]
Number of properties sold (property) | property		1
Square Feet (unaudited) | ft²		6,873
Quest Diagnostics, California
Real Estate [Line Items]
Number of properties sold (property) | property	1
Square Feet (unaudited) | ft²	223,894
Properties Sold In 2022
Real Estate [Line Items]
Number of properties sold (property) | property																																				3
Square Feet (unaudited) | ft²																																				412,327
Bradford & Bingley, UK
Real Estate [Line Items]
Number of properties sold (property) | property													1
Square Feet (unaudited) | ft²													120,618
Axon, Texas
Real Estate [Line Items]
Number of properties sold (property) | property												1
Square Feet (unaudited) | ft²												26,400
Sagemcom, France
Real Estate [Line Items]
Number of properties sold (property) | property											1
Square Feet (unaudited) | ft²											265,309

Real Estate Investments, Net _5

Real Estate Investments, Net - Properties Classified as Held-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total real estate assets held for sale, at cost	$ 17,859	$ 3,209
Less accumulated depreciation and amortization	(453)	(21)
Total real estate investments held for sale, net	17,406	3,188
Land
Property, Plant and Equipment [Line Items]
Total real estate assets held for sale, at cost	4,574	860
Buildings, fixtures and improvements
Property, Plant and Equipment [Line Items]
Total real estate assets held for sale, at cost	11,658	2,349
Acquired intangible lease assets
Property, Plant and Equipment [Line Items]
Total real estate assets held for sale, at cost	$ 1,627	$ 0

Real Estate Investments, Net _6

Real Estate Investments, Net - Intangible Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Intangible assets:
Gross Carrying Amount	$ 1,057,967	$ 1,359,981
Accumulated Amortization	432,775	468,973
Net Carrying amount	625,192	891,008
Intangible liabilities:
Gross Carrying Amount. Below-market leases	107,903	120,022
Accumulated Amortization, Below-market leases	31,103	24,212
Net Carrying amount, Below-market leases	76,800	95,810
Gross Carrying Amount	107,903	120,022
Accumulated Amortization	31,103	24,212
Net Carrying amount	76,800	95,810
In-place leases
Intangible assets:
Gross Carrying Amount	940,139	1,215,443
Accumulated Amortization	399,271	436,249
Net Carrying amount	540,868	779,194
Above-market lease assets
Intangible assets:
Gross Carrying Amount	117,828	144,538
Accumulated Amortization	33,504	32,724
Net Carrying amount	$ 84,324	$ 111,814

Real Estate Investments, Net _7

Real Estate Investments, Net - Amortization Periods and Projected Amortization Expense for Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Real Estate [Line Items]
Amortization of intangibles	$ 173,734	$ 100,958	$ 57,838
2025 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	122,447
2025 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	4,975
2026 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	95,432
2026 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	4,505
2027 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	74,088
2027 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	4,288
2028 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	56,838
2028 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	3,165
2029 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	39,557
2029 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	$ 2,221
In-place leases | Depreciation and Amortization
Real Estate [Line Items]
Weighted-Average Amortization Years	6 years 3 months 18 days
In-place leases | 2025 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	$ 122,447
In-place leases | 2026 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	95,432
In-place leases | 2027 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	74,088
In-place leases | 2028 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	56,838
In-place leases | 2029 | Depreciation and Amortization
Real Estate [Line Items]
Amortization of intangibles	$ 39,557
Above-market lease assets | Rental Income
Real Estate [Line Items]
Weighted-Average Amortization Years	7 years 4 months 24 days
Above-market lease assets | 2025 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	$ 14,108
Above-market lease assets | 2026 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	12,255
Above-market lease assets | 2027 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	11,150
Above-market lease assets | 2028 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	9,333
Above-market lease assets | 2029 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	$ 7,581
Below-market lease liabilities | Rental Income
Real Estate [Line Items]
Weighted-Average Amortization Years	12 years 7 months 6 days
Below-market lease liabilities | 2025 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	$ (9,133)
Below-market lease liabilities | 2026 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	(7,750)
Below-market lease liabilities | 2027 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	(6,862)
Below-market lease liabilities | 2028 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	(6,168)
Below-market lease liabilities | 2029 | Rental Income
Real Estate [Line Items]
Amortization of intangibles	$ (5,360)

Real Estate Investments, Net _8

Real Estate Investments, Net - Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States
Real Estate Investments [Line Items]
Entity wide revenue percentage	80.10%	79.70%	63.90%
Michigan
Real Estate Investments [Line Items]
Entity wide revenue percentage	9.20%	8.40%	15.50%
United Kingdom
Real Estate Investments [Line Items]
Entity wide revenue percentage	10.40%	11.10%	17.40%

Mortgage Notes Payable, Net - S

Mortgage Notes Payable, Net - Schedule of Long-term Debt Instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) property	Apr. 05, 2024 USD ($) property	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Mortgage notes payable, net	$ 2,221,706		$ 2,517,868
Mortgage Notes Payable
Debt Instrument [Line Items]
Encumbered Properties | property	749
Outstanding loan amount	$ 2,323,621		2,665,383
Effective Interest Rate	4.50%
Mortgage discount	$ (90,444)		(140,403)
Deferred financing costs, net of accumulated amortization	(11,471)		(7,112)
Mortgage notes payable, net	$ 2,221,706		2,517,868
Mortgage Notes Payable | Finland Properties
Debt Instrument [Line Items]
Percentage fixed interest rate	80%
Percentage variable interest rate	20%
Interest rate spread	1.40%
Mortgage Notes Payable | EUR
Debt Instrument [Line Items]
Encumbered Properties | property	5
Outstanding loan amount	$ 76,866		211,447
Mortgage Notes Payable | EUR | Finland Properties
Debt Instrument [Line Items]
Encumbered Properties | property	5
Outstanding loan amount	$ 76,866		0
Effective Interest Rate	5%
Mortgage Notes Payable | EUR | Finland Properties
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding loan amount	$ 0		81,695
Effective Interest Rate	0%
Mortgage Notes Payable | EUR | Benelux Properties
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding loan amount	$ 0		129,752
Effective Interest Rate	0%
Mortgage Notes Payable | GBP
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding loan amount	$ 0		128,587
Mortgage Notes Payable | GBP | McLaren
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding loan amount	$ 0		128,587
Effective Interest Rate	0%
Mortgage Notes Payable | USD
Debt Instrument [Line Items]
Encumbered Properties | property	744
Outstanding loan amount	$ 2,246,755		2,325,349
Mortgage Notes Payable | USD | Finland Properties
Debt Instrument [Line Items]
Outstanding loan amount	$ 76,900
Mortgage Notes Payable | USD | Penske Logistics
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding loan amount	$ 70,000		70,000
Effective Interest Rate	4.70%
Mortgage Notes Payable | USD | Multi-Tenant Mortgage Loan I
Debt Instrument [Line Items]
Encumbered Properties | property	10
Outstanding loan amount	$ 162,580		162,580
Effective Interest Rate	4.40%
Mortgage Notes Payable | USD | Multi-Tenant Mortgage Loan II
Debt Instrument [Line Items]
Encumbered Properties | property	8
Outstanding loan amount	$ 32,750		32,750
Effective Interest Rate	4.40%
Mortgage Notes Payable | USD | Multi-Tenant Mortgage Loan III
Debt Instrument [Line Items]
Encumbered Properties | property	7
Outstanding loan amount	$ 98,500		98,500
Effective Interest Rate	4.90%
Mortgage Notes Payable | USD | Multi-Tenant Mortgage Loan IV
Debt Instrument [Line Items]
Encumbered Properties | property	15
Outstanding loan amount	$ 90,111		97,500
Effective Interest Rate	4.60%
Mortgage Notes Payable | USD | Multi-Tenant Mortgage Loan V
Debt Instrument [Line Items]
Encumbered Properties | property	11
Outstanding loan amount	$ 139,771		139,771
Effective Interest Rate	3.70%
Mortgage Notes Payable | USD | 2019 Class A-1 Net-Lease Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	70
Outstanding loan amount	$ 105,859		110,815
Effective Interest Rate	3.80%
Mortgage Notes Payable | USD | 2019 Class A-2 Net-Lease Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	75
Outstanding loan amount	$ 118,798		119,409
Effective Interest Rate	4.50%
Mortgage Notes Payable | USD | 2021 Class A-1 Net-Lease Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	49
Outstanding loan amount	$ 49,362		50,971
Effective Interest Rate	2.20%
Mortgage Notes Payable | USD | 2021 Class A-2 Net-Lease Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	49
Outstanding loan amount	$ 85,262		88,041
Effective Interest Rate	2.80%
Mortgage Notes Payable | USD | 2021 Class A-3 Net-Lease Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	38
Outstanding loan amount	$ 34,997		34,997
Effective Interest Rate	3.10%
Mortgage Notes Payable | USD | 2021 Class A-4 Net-Lease Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	38
Outstanding loan amount	$ 54,995		54,995
Effective Interest Rate	3.70%
Mortgage Notes Payable | USD | Column Financial Mortgage Notes
Debt Instrument [Line Items]
Encumbered Properties | property	290
Outstanding loan amount	$ 463,370		697,595
Effective Interest Rate	3.80%
Mortgage Notes Payable | USD | Mortgage Loan II
Debt Instrument [Line Items]
Encumbered Properties | property	12
Outstanding loan amount	$ 210,000		210,000
Effective Interest Rate	4.20%
Mortgage Notes Payable | USD | Mortgage Loan III
Debt Instrument [Line Items]
Encumbered Properties | property	22
Outstanding loan amount	$ 33,400		33,400
Effective Interest Rate	4.10%
Mortgage Notes Payable | USD | RTL Multi-Tenant Mortgage II
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding loan amount	$ 0		25,000
Effective Interest Rate	0%
Mortgage Notes Payable | USD | McGowin Park
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding loan amount	$ 0		39,025
Effective Interest Rate	0%
Mortgage Notes Payable | USD | CMBS Loan
Debt Instrument [Line Items]
Encumbered Properties | property	29	20
Outstanding loan amount	$ 260,000	$ 237,000	260,000
Effective Interest Rate	6.50%	5.74%
Mortgage Notes Payable | USD | CMBS Loan II
Debt Instrument [Line Items]
Encumbered Properties | property	20
Outstanding loan amount	$ 237,000		$ 0
Effective Interest Rate	5.80%

Mortgage Notes Payable, Net -_2

Mortgage Notes Payable, Net - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Dec. 31, 2024 $ / £	Dec. 31, 2024 $ / €	Dec. 31, 2024 $ / $	Dec. 31, 2024 USD ($)	Dec. 31, 2023 $ / £	Dec. 31, 2023 $ / €	Dec. 31, 2023 $ / $	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Foreign currency exchange rate (GBP, EUR, CAD per USD)	1.25	1.04	0.70		1.27	1.10	0.75
Mortgage Notes Payable
Debt Instrument [Line Items]
2025				$ 464,526
2026				105,925
2027				163,191
2028				529,620
2029				660,102
Thereafter				400,257
Total				$ 2,323,621				$ 2,665,383

Mortgage Notes Payable, Net - N

Mortgage Notes Payable, Net - Narrative (Details) $ in Thousands	Apr. 05, 2024 USD ($) property	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Carrying value of encumbered assets		$ 4,840,000
Net worth	$ 150,000
Liquid asset requirement	10,000
Mortgages
Debt Instrument [Line Items]
Aggregate principal amount		$ 2,323,621	$ 2,665,383
Encumbered properties | property		749
Effective Interest Rate		4.50%
USD | Mortgages
Debt Instrument [Line Items]
Aggregate principal amount		$ 2,246,755	2,325,349
Encumbered properties | property		744
USD | CMBS Loan | Mortgages
Debt Instrument [Line Items]
Aggregate principal amount	$ 237,000	$ 260,000	$ 260,000
Encumbered properties | property	20	29
Monthly payable	5-year
Effective Interest Rate	5.74%	6.50%
Line of Credit
Debt Instrument [Line Items]
Carrying value of encumbered assets		$ 4,540,000

Revolving Credit Facility - Nar

Revolving Credit Facility - Narrative (Details)		3 Months Ended		12 Months Ended
	Apr. 08, 2022 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2020	Dec. 31, 2024 USD ($) extension $ / shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Sep. 12, 2023 USD ($)	Sep. 11, 2023 USD ($)
Line of Credit Facility [Line Items]
Loss on extinguishment and modification of debt		$ 13,100,000		$ 15,877,000	$ 1,221,000	$ 2,040,000
Maximum distribution, percentage of FFO			100%	100%
Maximum distribution under exemption, percentage of AFFO				105%
Maximum distribution under exemption, percentage of FFO			105%
Series A Preferred Stock
Line of Credit Facility [Line Items]
Preferred stock, dividend rate				7.25%	7.25%
Preferred stock, par value (in dollars per share) | $ / shares				$ 0.01	$ 0.01
Series B Preferred Stock
Line of Credit Facility [Line Items]
Preferred stock, dividend rate				6.875%	6.875%
Preferred stock, par value (in dollars per share) | $ / shares				$ 0.01	$ 0.01
Credit Facility Amendment | KeyBank National Association | Base Rate
Line of Credit Facility [Line Items]
Interest rate	0%
Senior Unsecured Multi-Currency Revolving Credit Facility
Line of Credit Facility [Line Items]
Weighted average effective interest rate				5.70%
Revolving Credit Facility | Credit Facility Amendment | Minimum | Base Rate
Line of Credit Facility [Line Items]
Interest rate	0.30%
Revolving Credit Facility | Credit Facility Amendment | Minimum | LIBOR
Line of Credit Facility [Line Items]
Interest rate	1.30%
Revolving Credit Facility | Credit Facility Amendment | Maximum | Base Rate
Line of Credit Facility [Line Items]
Interest rate	0.90%
Revolving Credit Facility | Credit Facility Amendment | Maximum | LIBOR
Line of Credit Facility [Line Items]
Interest rate	1.90%
Revolving Credit Facility | Credit Facility Amendment | KeyBank National Association | Unsecured Debt
Line of Credit Facility [Line Items]
Increase in lender commitments	$ 500,000,000
Maximum borrowing capacity							$ 1,950,000,000	$ 1,450,000,000
Revolving Credit Facility | Senior Unsecured Multi-Currency Revolving Credit Facility
Line of Credit Facility [Line Items]
Available for future borrowings				$ 332,500,000
Principal amount				$ 100,000,000
Revolving Credit Facility | Senior Unsecured Multi-Currency Revolving Credit Facility | KeyBank National Association | Unsecured Debt
Line of Credit Facility [Line Items]
Facility fee multiplier				0.0030
Revolving Credit Facility | Senior Unsecured Multi-Currency Revolving Credit Facility | KeyBank National Association | Unsecured Debt | Above Threshold
Line of Credit Facility [Line Items]
Unused capacity commitment fee				0.25%
Commitment fee percentage				50%
Revolving Credit Facility | Senior Unsecured Multi-Currency Revolving Credit Facility | KeyBank National Association | Unsecured Debt | Below Threshold
Line of Credit Facility [Line Items]
Unused capacity commitment fee				0.15%
Commitment fee percentage				50%
Letter of Credit | Credit Facility Amendment | KeyBank National Association | Unsecured Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity							75,000,000	50,000,000
Bridge Loan | Credit Facility Amendment | KeyBank National Association | Unsecured Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 75,000,000	$ 50,000,000
Term Loan | Credit Facility Amendment | KeyBank National Association | Unsecured Debt
Line of Credit Facility [Line Items]
Number of extensions | extension				2
Extension term	6 months

Revolving Credit Facility - Out

Revolving Credit Facility - Outstanding Balance Under Credit Agreement (Details) € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2024 USD ($)

Dec. 31, 2024 $ / £

Dec. 31, 2024 $ / €

Dec. 31, 2024 $ / $

Dec. 31, 2024

Dec. 31, 2024 GBP (£)

Dec. 31, 2024 EUR (€)

Dec. 31, 2024 CAD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2023 $ / £

Dec. 31, 2023 $ / €

Dec. 31, 2023 $ / $

Dec. 31, 2023 GBP (£)

Dec. 31, 2023 EUR (€)

Dec. 31, 2023 CAD ($)

Line of Credit Facility [Line Items]

Revolving Credit Facility

$ 1,390,292

$ 1,744,182

Foreign currency exchange rate (GBP, EUR, CAD per USD)

1.25

1.04

0.70

1.27

1.10

0.75

Senior Unsecured Multi-Currency Revolving Credit Facility

Line of Credit Facility [Line Items]

Weighted average effective interest rate

5.70%

Senior Unsecured Multi-Currency Revolving Credit Facility | Unsecured Debt | KeyBank National Association | Revolving Credit Facility

Line of Credit Facility [Line Items]

Revolving Credit Facility

1,390,292

1,744,182

USD | Senior Unsecured Multi-Currency Revolving Credit Facility | Unsecured Debt | KeyBank National Association | Revolving Credit Facility

Line of Credit Facility [Line Items]

Revolving Credit Facility

$ 494,119

$ 1,030,962

Stated interest rate

100%

Weighted average effective interest rate

6%

GBP | Senior Unsecured Multi-Currency Revolving Credit Facility | Unsecured Debt | KeyBank National Association | Revolving Credit Facility

Line of Credit Facility [Line Items]

Revolving Credit Facility | £

£ 344,000

£ 261,000

Weighted average effective interest rate

6.40%

Interest rate

58.10%

EUR | Senior Unsecured Multi-Currency Revolving Credit Facility | Unsecured Debt | KeyBank National Association | Revolving Credit Facility

Line of Credit Facility [Line Items]

Revolving Credit Facility | €

€ 422,145

€ 319,075

Stated interest rate

59.20%

Weighted average effective interest rate

4.60%

CAD | Senior Unsecured Multi-Currency Revolving Credit Facility | Unsecured Debt | KeyBank National Association | Revolving Credit Facility

Line of Credit Facility [Line Items]

Revolving Credit Facility

$ 38,000

$ 38,000

Weighted average effective interest rate

6%

Interest rate

100%

Senior Notes, Net - Schedule of

Senior Notes, Net - Schedule of Senior Notes, Net (Details) - Senior Notes - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Oct. 07, 2021	Dec. 16, 2020
Debt Instrument [Line Items]
Stated interest rate			4.50%
Total Credit Facility	$ 906,101	$ 886,045
Senior Notes 3.75 Percent
Debt Instrument [Line Items]
Stated interest rate	3.75%			3.75%
Term loan	$ 500,000	500,000
Deferred financing costs	(4,100)	(5,491)
Total Credit Facility	$ 495,900	494,509
Senior Notes 4.50 Percent
Debt Instrument [Line Items]
Stated interest rate	4.50%
Term loan	$ 500,000	500,000
Less: Discount	(89,799)	(108,464)
Total Credit Facility	$ 410,201	$ 391,536

Senior Notes, Net - Narrative (

Senior Notes, Net - Narrative (Details) - Senior Notes - USD ($) $ in Millions	Dec. 16, 2020	Dec. 31, 2024	Oct. 07, 2021
Debt Instrument [Line Items]
Stated interest rate			4.50%
Senior Notes Due 2027
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500
Interest rate	0.50%
Senior Notes Due 2027 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage	101%
Senior Notes Due 2027 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price percentage	100%
Senior Notes 3.75 Percent
Debt Instrument [Line Items]
Stated interest rate	3.75%	3.75%
Senior Notes 4.50 Percent
Debt Instrument [Line Items]
Stated interest rate		4.50%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) £ in Millions, $ in Millions	Dec. 31, 2024 GBP (£)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 07, 2021	Dec. 16, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Land value per acre | £	£ 1.5
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate				4.50%
Senior Notes | Senior Notes 3.75 Percent
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.75%	3.75%			3.75%
Senior Notes | Senior Notes 4.50 Percent
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.50%	4.50%
Significant Unobservable Inputs Level 3 | Senior Notes | Senior Notes 4.50 Percent
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.50%	4.50%
Significant Unobservable Inputs Level 3 | Carrying Amount | Mortgage Notes Payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		$ 2,300	$ 2,700
Significant Unobservable Inputs Level 3 | Carrying Amount | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		1,400	1,700
Significant Unobservable Inputs Level 3 | Carrying Amount | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		500	500
Significant Unobservable Inputs Level 3 | Carrying Amount | Senior Notes | Senior Notes 4.50 Percent
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		500
Significant Unobservable Inputs Level 3 | Fair Value | Mortgage Notes Payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		2,200	2,500
Significant Unobservable Inputs Level 3 | Fair Value | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		1,400	1,700
Significant Unobservable Inputs Level 3 | Fair Value | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		458.1	$ 416.3
Significant Unobservable Inputs Level 3 | Fair Value | Senior Notes | Senior Notes 4.50 Percent
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		$ 458.8

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Fair Value, Financial Instruments Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Foreign currency forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	$ 1,583	$ (1,569)
Foreign currency forwards | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	0	0
Foreign currency forwards | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	1,583	(1,569)
Foreign currency forwards | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	0	0
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	(2,831)	7,039
Interest rate swaps | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	0	0
Interest rate swaps | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	(2,831)	7,039
Interest rate swaps | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset fair value	$ 0	$ 0

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Schedule of Derivative Instruments in Statement of Financial Positions, Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	$ (1,248)	$ 5,470
Swap | Designated as Hedging Instrument | Interest rate swaps
Derivatives, Fair Value [Line Items]
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	(2,831)	3,877
Swap | Designated as Hedging Instrument | USD | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	(1,179)	(2,110)
Swap | Designated as Hedging Instrument | GBP | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	(602)	0
Swap | Designated as Hedging Instrument | EUR | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	(1,310)	0
Derivative assets, at fair value	260	5,987
Swap | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	1,583	1,593
Swap | Derivatives not designated as hedging instruments | GBP | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	(628)	(1,906)
Derivative assets, at fair value	1,156	878
Swap | Derivatives not designated as hedging instruments | EUR | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	0	3,162
Swap | Derivatives not designated as hedging instruments | EUR | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative liabilities, at fair value	0	(1,129)
Derivative assets, at fair value	$ 1,055	$ 588

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Gains for accelerated amount recorded in interest expense	$ 2,400
Loss to be reclassified from other comprehensive income		$ 300
Losses due to currency changes on undesignated excess foreign currency advances		3,200	$ 0	$ 0
Gain (loss) on derivative instruments		4,229	(3,691)	18,642
Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (loss) on derivative instruments		$ 4,200	$ (3,700)	$ 18,600

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Schedule of Interest Rate Derivatives (Details) - Interest rate “pay-fixed” swaps - Swap - Designated as Hedging Instrument $ in Thousands	Dec. 31, 2024 USD ($) derivative	Dec. 31, 2023 USD ($) derivative
Derivative [Line Items]
Number of Instruments | derivative	21	16
Notional Amount | $	$ 1,171,896	$ 608,233
GBP
Derivative [Line Items]
Number of Instruments | derivative	3	0
Notional Amount | $	$ 250,718	$ 0
EUR
Derivative [Line Items]
Number of Instruments | derivative	9	11
Notional Amount | $	$ 321,178	$ 308,233
USD
Derivative [Line Items]
Number of Instruments | derivative	9	5
Notional Amount | $	$ 600,000	$ 300,000

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total interest expense recorded in the consolidated statements of operations	$ 326,932	$ 179,411	$ 97,510
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) gain recognized in AOCI from derivatives	7,928	(5,100)	27,896
Interest rate swaps | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) reclassified from AOCI into income as interest expense	$ 14,583	$ 15,744	$ (5)

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Schedule of Derivatives Not Designated as Hedges (Details) - Not Designated as Hedging Instrument $ in Thousands	Dec. 31, 2024 USD ($) derivative	Dec. 31, 2023 USD ($) derivative
Schedule of Foreign Currency Swaps [Line Items]
Number of Instruments | derivative	49	60
Notional Amount | $	$ 98,659	$ 250,759
Foreign currency forwards | GBP-USD | Foreign currency forwards
Schedule of Foreign Currency Swaps [Line Items]
Number of Instruments | derivative	30	29
Notional Amount | $	$ 69,574	$ 54,745
Foreign currency forwards | EUR-USD | Foreign currency forwards
Schedule of Foreign Currency Swaps [Line Items]
Number of Instruments | derivative	19	28
Notional Amount | $	$ 29,085	$ 41,952
Swap | EUR-USD | Interest rate swaps
Schedule of Foreign Currency Swaps [Line Items]
Number of Instruments | derivative	0	3
Notional Amount | $	$ 0	$ 154,062

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$ 2,471	$ 10,615
Gross Amounts of Recognized (Liabilities)	(3,719)	(5,145)
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Assets (Liabilities) presented on the Balance Sheet	(1,248)	5,470
Financial Instruments	0	0
Cash Collateral Received (Posted)	0	0
Net Amount	$ (1,248)	$ 5,470

Stockholders' Equity - Common S

Stockholders' Equity - Common Sock Narrative (Details) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 12, 2023

Sep. 11, 2023

Jul. 13, 2023

Jul. 11, 2023

Jun. 02, 2021

Oct. 31, 2023

Jun. 30, 2023

Sep. 30, 2023

Jun. 30, 2023

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Nov. 30, 2022

Nov. 29, 2022

Class of Stock [Line Items]

Common stock, issued (in shares)

231,051,139

230,885,197

Common stock, outstanding (in shares)

231,051,139

230,885,197

Additional paid-in capital

$ 4,359,264

$ 4,350,112

Non-controlling interest

$ 0

1,397

Blackwells And Related Parties | REIT Merger Agreement

Class of Stock [Line Items]

Litigation settlement, expense

$ 15,900

15,900

Blackwells

Class of Stock [Line Items]

Reimbursed of settlement costs

$ 8,800

Common Stock | Blackwells And Related Parties | REIT Merger Agreement

Class of Stock [Line Items]

Issuance of stock, net (in shares)

1,600,000

REIT Merger and Internalization Merger | Class A Units

Class of Stock [Line Items]

Fair value of stock issued to holders of RTL shares (in shares)

115,857

REIT Merger and Internalization Merger | Series D Preferred Stock

Class of Stock [Line Items]

Fair value of stock issued to holders of RTL shares (in shares)

7,933,711

REIT Merger and Internalization Merger | Series E Preferred Stock

Class of Stock [Line Items]

Fair value of stock issued to holders of RTL shares (in shares)

4,595,175

REIT Merger and Internalization Merger | Common Stock

Class of Stock [Line Items]

Fair value of stock issued to holders of RTL shares (in shares)

123,257,677

Agent | At-the-Market Program

Class of Stock [Line Items]

Common stock, value authorized

$ 285,000

$ 500,000

Related Party

Class of Stock [Line Items]

Additional paid-in capital

27,700

Non-controlling interest

(27,700)

Related Party | Blackwells And Related Parties | REIT Merger Agreement

Class of Stock [Line Items]

Litigation settlement, expense

$ 4,900

$ 4,900

Related Party | Common Stock | REIT Merger Agreement

Class of Stock [Line Items]

Litigation settlement, expense

$ 500

Related Party | Common Stock | Blackwells And Related Parties | REIT Merger Agreement

Class of Stock [Line Items]

Issuance of stock, net (in shares)

45,579

495,000

Litigation settlement, expense

$ 600

Stock issued during period, shares, additional number of shares issued (in shares)

59,253

Related Party | At-the-Market Program

Class of Stock [Line Items]

Number of shares issued (in shares)

0

0

Advisor | LTIP Units | 2021 Multi Year Outperformance Plan

Class of Stock [Line Items]

Granted (in shares)

2,500,000

Vested (in shares)

883,750

Advisor | At-the-Market Program

Class of Stock [Line Items]

Number of shares issued (in shares)

70,218

Offering proceeds

$ 1,100

Stockholders' Equity - Preferre

Stockholders' Equity - Preferred Stock Narrative (Details)		12 Months Ended
	Sep. 12, 2023 $ / shares shares	Dec. 31, 2024 numberOfQuarterlyDividends $ / shares shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 USD ($) shares	Feb. 26, 2024 $ / shares shares	Nov. 30, 2022 USD ($)	Dec. 31, 2019 USD ($)
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		40,000,000
Convertible preferred stock (in shares)					100,000
Related Party | At-the-Market Program
Class of Stock [Line Items]
Number of shares issued (in shares)		0	0
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		9,959,650	9,959,650
Preferred stock, outstanding (in shares)		6,799,467	6,799,467
Preferred stock, issued (in shares)		6,799,467	6,799,467
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Preferred stock cumulative dividends (in dollars per share) | $ / shares		$ 1.8125
Preferred stock, dividend rate		7.25%	7.25%
Preferred stock, liquidation preference (in dollars per share) | $ / shares		$ 25	$ 25
Preferred stock redemption price per share (in dollars per share) | $ / shares		$ 25
Redemption period one		90 days
Redemption period two		120 days
Number of share issued per share of convertible preferred stock (in shares)		2.301
Number of quarterly dividends payable (quarterly dividend) | numberOfQuarterlyDividends		6
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		11,450,000	11,450,000
Preferred stock, outstanding (in shares)		4,695,887	4,695,887
Preferred stock, issued (in shares)		4,695,887	4,695,887
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Preferred stock cumulative dividends (in dollars per share) | $ / shares		$ 1.71875
Preferred stock, dividend rate		6.875%	6.875%
Preferred stock, liquidation preference (in dollars per share) | $ / shares		$ 25	$ 25
Redemption period one		90 days
Redemption period two		120 days
Number of share issued per share of convertible preferred stock (in shares)		2.5126
Number of quarterly dividends payable (quarterly dividend) | numberOfQuarterlyDividends		6
Series B Preferred Stock | Public Offering
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share) | $ / shares		$ 25
Series B Preferred Stock | Agent | At-the-Market Program
Class of Stock [Line Items]
Equity offering proceeds authorized | $						$ 170,000,000	$ 200,000,000
Number of shares issued (in shares)				191,994
Offering proceeds | $				$ 4,800,000
Series B Preferred Stock | Related Party | At-the-Market Program | Agent
Class of Stock [Line Items]
Number of shares issued (in shares)		0	0
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)			100,000		100,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Convertible preferred stock (in shares)					100,000
Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		7,933,711	7,933,711
Preferred stock, outstanding (in shares)		7,933,711	7,933,711
Preferred stock, issued (in shares)		7,933,711	7,933,711
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Preferred stock, dividend rate		7.50%	7.50%
Preferred stock, liquidation preference (in dollars per share) | $ / shares		$ 25	$ 25
Redemption period one		90 days
Redemption period two		120 days
Number of quarterly dividends payable (quarterly dividend) | numberOfQuarterlyDividends		6
Series D Preferred Stock | REIT Merger
Class of Stock [Line Items]
Exchange ratio, shares (in shares)	1
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01
Preferred stock, dividend rate	7.50%
Series E Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		4,595,175	4,595,175
Preferred stock, outstanding (in shares)		4,595,175	4,595,175
Preferred stock, issued (in shares)		4,595,175	4,595,175
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Preferred stock, dividend rate		7.375%	7.375%
Preferred stock, liquidation preference (in dollars per share) | $ / shares		$ 25	$ 25
Redemption period one		90 days
Redemption period two		120 days
Number of quarterly dividends payable (quarterly dividend) | numberOfQuarterlyDividends		6
Series E Preferred Stock | REIT Merger
Class of Stock [Line Items]
Exchange ratio, shares (in shares)	1
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01
Preferred stock, dividend rate	7.375%

Stockholders' Equity - Dividend

Stockholders' Equity - Dividends Narrative (Details) - $ / shares			1 Months Ended	9 Months Ended	12 Months Ended
	Feb. 27, 2025	Feb. 26, 2024	Oct. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Dividends paid on the 15th of each month (in dollars per share)		$ 1.10		$ 1.60			$ 1.60
Common stock, monthly dividend rate (in dollars per share)		$ 0.275		$ 0.40			$ 0.40
Subsequent Event
Class of Stock [Line Items]
Dividends paid on the 15th of each month (in dollars per share)	$ 0.76
Minimum | Subsequent Event
Class of Stock [Line Items]
Common stock, monthly dividend rate (in dollars per share)	0.275
Maximum | Subsequent Event
Class of Stock [Line Items]
Common stock, monthly dividend rate (in dollars per share)	$ 0.190
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, quarterly dividend (in dollars per share)					$ 0.453125
Preferred stock, dividend rate					7.25%	7.25%
Preferred stock, liquidation preference (in dollars per share)					$ 25	$ 25
Series A Preferred Stock | Minimum
Class of Stock [Line Items]
Percentage of ordinary dividend income					89.30%	100%	69.90%
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, quarterly dividend (in dollars per share)					$ 0.4296875
Preferred stock, dividend rate					6.875%	6.875%
Preferred stock, liquidation preference (in dollars per share)					$ 25	$ 25
Series B Preferred Stock | Public Offering
Class of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)					$ 25
Series B Preferred Stock | Minimum
Class of Stock [Line Items]
Percentage of ordinary dividend income					89.30%	100%	69.90%
Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock, quarterly dividend (in dollars per share)					$ 0.46875
Preferred stock, dividend rate					7.50%	7.50%
Preferred stock, liquidation preference (in dollars per share)					$ 25	$ 25
Percentage of ordinary dividend income					89.30%	100%
Series E Preferred Stock
Class of Stock [Line Items]
Preferred stock, quarterly dividend (in dollars per share)					$ 0.4609375
Preferred stock, dividend rate					7.375%	7.375%
Preferred stock, liquidation preference (in dollars per share)					$ 25	$ 25
Percentage of ordinary dividend income					89.30%	100%
REIT Merger and Internalization Merger
Class of Stock [Line Items]
Dividends paid on the 15th of each month (in dollars per share)			$ 1.42
Common stock, monthly dividend rate (in dollars per share)			$ 0.354

Stockholders' Equity - Details

Stockholders' Equity - Details of Distributions Classified as Return of Capital and Ordinary Dividend Income (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Return of capital (in dollars per share)	$ 1.18	$ 1.55	$ 1.60
Ordinary dividend income (in dollars per share)	0	0	0
Total distribution (in dollars per share)	$ 1.18	$ 1.55	$ 1.60
Return of capital	100%	100%	100%
Ordinary dividend income	0%	0%	0%
Total distribution	100%	100%	100%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Number of properties subject to ground leases | property	17
Number of additional properties subject to ground leases | property	2
Operating lease right-of-use asset	$ 74,270	$ 77,008
Total present value of lease payments	$ 48,333	48,369
Weighted-average remaining lease term	25 years 1 month 6 days
Weighted average discount rate	5.81%
Payments	$ 4,000	2,300	$ 1,300
Expense	$ 1,500	$ 1,400	$ 1,300
Minimum
Loss Contingencies [Line Items]
Term of lease contract	5 years 6 months
Maximum
Loss Contingencies [Line Items]
Term of lease contract	119 years

Commitments and Contingencies_2

Commitments and Contingencies - Operating Leases Future Minimum Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2024 $ / £	Dec. 31, 2024 $ / €	Dec. 31, 2024 $ / $	Dec. 31, 2023 USD ($)	Dec. 31, 2023 $ / £	Dec. 31, 2023 $ / €	Dec. 31, 2023 $ / $
Commitments and Contingencies Disclosure [Abstract]
2025	$ 3,751
2026	3,895
2027	3,976
2028	4,002
2029	4,023
Thereafter	73,990
Total minimum lease payments	93,637
Less: Effects of discounting	(45,304)
Total present value of lease payments	$ 48,333				$ 48,369
Foreign currency exchange rate (GBP, EUR, CAD per USD)		1.25	1.04	0.70		1.27	1.10	0.75

Related Party Transactions - Na

Related Party Transactions - Narrative (Details)	1 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2019 property	Apr. 30, 2019 property	Oct. 31, 2017 property
Related Party Transaction [Line Items]
Number of real estate properties, no longer subject to oversight fee (property) | property					39	39	39
Incurred
Related Party Transaction [Line Items]
Related party expenses (reversals)			$ 1,200,000	$ 1,100,000
Advisor | Average Invested Assets | Maximum | American Realty Capital Global Advisors, LLC | Greater Of
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark		2%
Advisor | Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets | Maximum | American Realty Capital Global Advisors, LLC | Greater Of
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark		25%
Property Manager | Gross Revenue, Managed Properties | Maximum | American Realty Capital Global Properties, LLC
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark		1%
Property Manager | Stand Alone, Single Tenant, Net Leased | Gross Revenue, Managed Properties | Maximum | American Realty Capital Global Properties, LLC
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark		2%
Property Manager | All other properties, other than stand alone, single tenant, net leased | Gross Revenue, Managed Properties | Maximum | American Realty Capital Global Properties, LLC
Related Party Transaction [Line Items]
Oversight fees as a percentage of benchmark		4%
Amended Advisory Agreement | Advisor
Related Party Transaction [Line Items]
Minimum monthly base management fee		$ 18,000,000
Variable fee, percent of cumulative net proceeds	1.25%
Incentive Compensation, percent payable in cash		50%
Incentive Compensation, percent payable in shares		50%
Advisor
Related Party Transaction [Line Items]
Leasing commissions incurred			1,300,000	3,800,000
Advisory Agreement | Advisor
Related Party Transaction [Line Items]
Minimum monthly base management fee			18,000,000
Advisory Agreement | Advisor | Incurred | Recurring Fees | Incentive Compensation
Related Party Transaction [Line Items]
Related party expenses (reversals)			$ 0	$ 0

Related Party Transactions - Sc

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, 2023	Dec. 31, 2022
Advisor | Advisory Agreement
Related Party Transaction [Line Items]
Minimum monthly base management fee	$ 18,000
Advisor | Variable Base Management Fee
Related Party Transaction [Line Items]
Related party expenses (reversals)	4,800	$ 14,500
Incurred
Related Party Transaction [Line Items]
Related party expenses (reversals)	1,200	1,100
Incurred | Related Party
Related Party Transaction [Line Items]
Related party expenses (reversals)	28,283	40,122
Recurring Fees | Incurred | Asset management fees | Related Party
Related Party Transaction [Line Items]
Related party expenses (reversals)	22,803	32,549
Recurring Fees | Incurred | Property management fees | Related Party
Related Party Transaction [Line Items]
Related party expenses (reversals)	$ 5,480	$ 7,573

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

12 Months Ended

Nov. 29, 2023

Sep. 12, 2023

Sep. 11, 2023

Jun. 03, 2021

Jun. 02, 2021

Nov. 30, 2023

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Apr. 12, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity based compensation

$ (100)

Net compensation charge

300

Equity-based compensation, net of forfeitures

$ 8,932

$ 17,297

12,072

Non-controlling interest

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity-based compensation, net of forfeitures

$ 0

$ 12,928

$ 8,983

Restricted stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares issued in the period (in shares)

334,642

565,620

359,840

Restricted stock | Tranche One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percent

50%

Restricted stock | Advisor | Tranche One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percent

25%

Restricted stock | Advisor | Tranche Two

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percent

25%

Restricted stock | Advisor | Tranche Three

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percent

25%

Restricted stock | Advisor | Tranche Four

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percent

25%

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

3 years

Unrecognized compensation cost

$ 3,200

Period for recognition

1 year 9 months

Performance Shares | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Termination period

180 days

Performance Shares | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Termination period

2 years

LTIP Units | Advisor

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payments of distributions to affiliates

$ 2,900

2021 Equity Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares)

6,300,000

Restricted Share Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity based compensation

$ 8,900

$ 4,400

$ 3,100

Unrecognized compensation cost

$ 8,000

Period for recognition

2 years 1 month 6 days

Restricted Share Plan | Restricted stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares issued in the period (in shares)

23,156

Unrecognized compensation cost

$ 3,100

Period for recognition

2 years 4 months 24 days

Granted (in shares)

0

265,125

230,398

RTL Restricted Shares that vested (in shares)

179,228

274,850

148,278

Forfeitures (in shares)

51,750

5,631

27,387

Long-Term Incentive Plan | Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity fair value

$ 5,100

Equity based compensation, requisite service period

2 years 9 months 18 days

2018 RTL Equity Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional shares authorized (in shares)

2,295,658

2021 Multi Year Outperformance Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares authorized

$ 50,000

Share price (in dollars per share)

$ 20

2021 Multi Year Outperformance Plan | Share-based Payment Arrangement, Nonemployee

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity based compensation, requisite service period

3 years 1 month 6 days

2021 Multi Year Outperformance Plan | Tranche One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

24%

Relative TSR Excess

(0.0600)

2021 Multi Year Outperformance Plan | Tranche Two

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

24%

Relative TSR Excess

(0.0600)

2021 Multi Year Outperformance Plan | Tranche Three

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

30%

Relative TSR Excess

0

2021 Multi Year Outperformance Plan | Minimum | Tier One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

24%

Relative TSR Excess

(0.0600)

2021 Multi Year Outperformance Plan | Minimum | Tier Two

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

30%

Relative TSR Excess

0

2021 Multi Year Outperformance Plan | Maximum | Tier One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

30%

Relative TSR Excess

0

2021 Multi Year Outperformance Plan | Maximum | Tier Two

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Absolute TSR

36%

Relative TSR Excess

0.0600

2021 Multi Year Outperformance Plan | LTIP Units | Share-based Payment Arrangement, Nonemployee

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity fair value

$ 27,700

2021 Multi Year Outperformance Plan | LTIP Units | Advisor

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted (in shares)

2,500,000

RTL Restricted Shares that vested (in shares)

883,750

Forfeitures (in shares)

1,616,250

2018 Multi Year Outperformance Plan | Share-based Payment Arrangement, Nonemployee | Non-controlling interest

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity-based compensation, net of forfeitures

$ 12,900

$ 9,000

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Restricted Share Award Activity (Details) - Restricted Share Plan - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unvested RSUs
Number of RSUs
Beginning Balance (in shares)	535,768	47,723	44,510
Granted (in shares)	978,247	526,788	24,864
Vested (in shares)	(232,789)	(28,439)	(21,651)
Forfeitures (in shares)	(33,047)	(10,304)
Ending Balance (in shares)	1,248,179	535,768	47,723
Weighted-Average Issue Price
Beginning Balance (in dollars per share)	$ 9.09	$ 15.82	$ 16.47
Granted (in dollars per share)	7.48	8.90	15.18
Vested (in dollars per share)	8.93	15.56	16.43
Forfeitures (in dollars per share)	8.07	12.62
Ending Balance (in dollars per share)	$ 7.89	$ 9.09	$ 15.82
Restricted stock
Number of RSUs
Beginning Balance (in shares)	565,620	359,840	305,107
Granted (in shares)	0	265,125	230,398
Vested (in shares)	(179,228)	(274,850)	(148,278)
Forfeitures (in shares)	(51,750)	(5,631)	(27,387)
Issued in connection with the REIT Merger (in shares)		221,136
Ending Balance (in shares)	334,642	565,620	359,840
Weighted-Average Issue Price
Beginning Balance (in dollars per share)	$ 12.14	$ 17.16	$ 18.81
Granted (in dollars per share)	0	10.52	14.60
Vested (in dollars per share)	13.01	16.03	16.56
Forfeitures (in dollars per share)	10.83	11.79	17.22
Issued in connection with the REIT Merger (in dollars per share)		10.73
Ending Balance (in dollars per share)	$ 11.88	$ 12.14	$ 17.16
Restricted stock | Board
Number of RSUs
Granted (in shares)	142,464	30,252
Restricted stock | Employees
Number of RSUs
Granted (in shares)	835,783	496,536

Equity-Based Compensation - S_2

Equity-Based Compensation - Schedule of Share Based Compensation Potential Number of PSUs That May Be Earned and Vested at Various Levels of Performance (Details) - Performance Shares	1 Months Ended
	Nov. 30, 2023 shares
Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Number of PSUs to be Issued (in shares)	234,200
Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Number of PSUs to be Issued (in shares)	468,392
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Number of PSUs to be Issued (in shares)	1,288,072

Equity-Based Compensation - S_3

Equity-Based Compensation - Schedule of Share Based Compensation Number of PSUs That May Be Earned And Vested, Weighted by Each Category of Performance Goal (Details) - Performance Shares	12 Months Ended
	Dec. 31, 2024 shares
Company TSR Relative to the MSCI REIT Index | Below Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	30%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	0%
Number of PSUs Earned (in shares)	0
Company TSR Relative to the MSCI REIT Index | Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	30%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	50%
Number of PSUs Earned (in shares)	87,825
Company TSR Relative to the MSCI REIT Index | Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	55%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	100%
Number of PSUs Earned (in shares)	175,647
Company TSR Relative to the MSCI REIT Index | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	75%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	275%
Number of PSUs Earned (in shares)	483,027
Company TSR Relative to the Custom Net Lease Peer Group | Below Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	30%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	0%
Number of PSUs Earned (in shares)	0
Company TSR Relative to the Custom Net Lease Peer Group | Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	30%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	50%
Number of PSUs Earned (in shares)	87,825
Company TSR Relative to the Custom Net Lease Peer Group | Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	55%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	100%
Number of PSUs Earned (in shares)	175,647
Company TSR Relative to the Custom Net Lease Peer Group | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	75%
Target PSUs - Weighted (in shares)	175,647
Percentage of Target PSUs Earned	275%
Number of PSUs Earned (in shares)	483,027
Company TSR | Below Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	8%
Target PSUs - Weighted (in shares)	117,098
Percentage of Target PSUs Earned	0%
Number of PSUs Earned (in shares)	0
Company TSR | Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	8%
Target PSUs - Weighted (in shares)	117,098
Percentage of Target PSUs Earned	50%
Number of PSUs Earned (in shares)	58,550
Company TSR | Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	10%
Target PSUs - Weighted (in shares)	117,098
Percentage of Target PSUs Earned	100%
Number of PSUs Earned (in shares)	117,098
Company TSR | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance level	12%
Target PSUs - Weighted (in shares)	117,098
Percentage of Target PSUs Earned	275%
Number of PSUs Earned (in shares)	322,018

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Target and Maximum Performance Goals (Details) - 2021 Multi Year Outperformance Plan	Jun. 03, 2021 shares
Below Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Level (% of Absolute GNL LTIP Units Earned)	0%
Absolute TSR	24%
Number of Absolute GNL LTIP Units Earned (in shares)	0
Performance Level (% of Relative GNL LTIP Units Earned)	0%
Relative TSR Excess	(0.0600)
Number of Absolute GNL LTIP Units Earned (in shares)	0
Threshold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Level (% of Absolute GNL LTIP Units Earned)	25%
Absolute TSR	24%
Number of Absolute GNL LTIP Units Earned (in shares)	312,500
Performance Level (% of Relative GNL LTIP Units Earned)	25%
Relative TSR Excess	(0.0600)
Number of Absolute GNL LTIP Units Earned (in shares)	312,500
Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Level (% of Absolute GNL LTIP Units Earned)	50%
Absolute TSR	30%
Number of Absolute GNL LTIP Units Earned (in shares)	625,000
Performance Level (% of Relative GNL LTIP Units Earned)	50%
Relative TSR Excess	0
Number of Absolute GNL LTIP Units Earned (in shares)	625,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Level (% of Absolute GNL LTIP Units Earned)	100%
Absolute TSR	36%
Number of Absolute GNL LTIP Units Earned (in shares)	1,250,000
Performance Level (% of Relative GNL LTIP Units Earned)	100%
Relative TSR Excess	0.0600
Number of Absolute GNL LTIP Units Earned (in shares)	1,250,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net loss attributable to common stockholders	$ (175,316)	$ (239,348)	$ (8,363)
Adjustments to net loss attributable to common stockholders for common share equivalents	(659)	(3,887)	(939)
Adjusted net loss attributable to common stockholders	$ (175,975)	$ (243,235)	$ (9,302)
Weighted average common shares outstanding — Basic (in shares)	230,440,385	142,584,332	103,686,395
Weighted average common shares outstanding — Diluted (in shares)	230,440,385	142,584,332	103,686,395
Net income loss per share attributable to common stockholders — Basic (in dollars per share)	$ (0.76)	$ (1.71)	$ (0.09)
Net income loss per share attributable to common stockholders — Diluted (in dollars per share)	$ (0.76)	$ (1.71)	$ (0.09)

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities (Details) - shares		12 Months Ended
	Sep. 11, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Total common share equivalents excluded from EPS calculation (in shares)		2,665,659	693,486	2,917,645
Unvested RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Total common share equivalents excluded from EPS calculation (in shares)		950,936	85,518	45,725
Outstanding unvested RTL Restricted Shares (in shares)		1,248,179	535,768	47,723
Restricted Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Total common share equivalents excluded from EPS calculation (in shares)		426,651	456,279	371,920
Performance Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Total common share equivalents excluded from EPS calculation (in shares)		1,288,072	116,456	0
Outstanding unvested RTL Restricted Shares (in shares)		1,288,072	1,288,072
Class A Units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Total common share equivalents excluded from EPS calculation (in shares)		0	35,233	0
Shares issued in the period (in shares)		0	115,857
LTIP Units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Total common share equivalents excluded from EPS calculation (in shares)		0	0	2,500,000
2021 Multi Year Outperformance Plan | LTIP Units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issued in the period (in shares)		0	0	2,500,000
Restricted Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issued in the period (in shares)		334,642	565,620	359,840
LTIP Units | 2021 Multi Year Outperformance Plan | Advisor
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
RTL Restricted Shares that vested (in shares)	883,750

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of share based compensation arrangements (in shares)	0	0
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of share based compensation arrangements (in shares)	0		0

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments (segment)	4

Segment Reporting - Operating F

Segment Reporting - Operating Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue from tenants	$ 805,010	$ 515,070	$ 378,857
Net Operating Income	206,484	(15,382)	100,543
Industrial & Distribution
Segment Reporting Information [Line Items]
Revenue from tenants	237,645	220,102	211,533
Property operating expense	21,820	15,457	13,682
Net Operating Income	215,825	204,645	197,851
Multi-Tenant Retail
Segment Reporting Information [Line Items]
Revenue from tenants	259,280	79,799	0
Property operating expense	86,025	26,951	0
Net Operating Income	173,255	52,848	0
Single-Tenant Retail
Segment Reporting Information [Line Items]
Revenue from tenants	164,514	65,478	17,170
Property operating expense	15,787	6,045	1,200
Net Operating Income	148,727	59,433	15,970
Office
Segment Reporting Information [Line Items]
Revenue from tenants	143,571	149,691	150,154
Property operating expense	18,865	19,386	17,995
Net Operating Income	$ 124,706	$ 130,305	$ 132,159

Segment Reporting - Segment_s I

Segment Reporting - Segment’s Income to Consolidated Net (Loss) Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue from tenants									$ 805,010	$ 515,070	$ 378,857
Total net operating income									206,484	(15,382)	100,543
Operating fees to related parties									0	(28,283)	(40,122)
Impairment charges	$ (20,100)	$ (38,600)	$ (27,400)	$ (4,300)		$ (4,500)	$ (800)	$ (16,000)	(90,410)	(68,684)	(21,561)
Merger, transaction and other costs									(6,026)	(54,492)	(244)
Settlement costs									0	(29,727)	0
General and administrative									(57,734)	(40,187)	(17,737)
Equity-based compensation									(8,931)	(17,297)	(12,072)
Depreciation and amortization									(349,943)	(222,271)	(154,026)
Gain (loss) on dispositions of real estate investments					$ 65,700				57,015	(1,672)	325
Interest expense									(326,932)	(179,411)	(97,510)
Loss on extinguishment and modification of debt			$ (13,100)						(15,877)	(1,221)	(2,040)
Gain (loss) on derivative instruments									4,229	(3,691)	18,642
Unrealized gains on undesignated foreign currency advances and other hedge ineffectiveness									3,249	0	2,439
Other income									1,720	2,270	981
Net loss before income tax									(127,127)	(197,435)	23,055
Income tax expense									(4,445)	(14,475)	(11,032)
Net loss									(131,572)	(211,910)	12,023
Preferred stock dividends									(43,744)	(27,438)	(20,386)
Net loss attributable to common stockholders									(175,316)	(239,348)	(8,363)
Operating Segments
Segment Reporting Information [Line Items]
Revenue from tenants									805,010	515,070	378,857
Total net operating income									662,513	447,231	345,980
Industrial & Distribution
Segment Reporting Information [Line Items]
Revenue from tenants									237,645	220,102	211,533
Total net operating income									215,825	204,645	197,851
Industrial & Distribution | Operating Segments
Segment Reporting Information [Line Items]
Revenue from tenants									237,645	220,102	211,533
Total net operating income									215,825	204,645	197,851
Multi-Tenant Retail
Segment Reporting Information [Line Items]
Revenue from tenants									259,280	79,799	0
Total net operating income									173,255	52,848	0
Multi-Tenant Retail | Operating Segments
Segment Reporting Information [Line Items]
Revenue from tenants									259,280	79,799	0
Total net operating income									173,255	52,848	0
Single-Tenant Retail
Segment Reporting Information [Line Items]
Revenue from tenants									164,514	65,478	17,170
Total net operating income									148,727	59,433	15,970
Single-Tenant Retail | Operating Segments
Segment Reporting Information [Line Items]
Revenue from tenants									164,514	65,478	17,170
Total net operating income									148,727	59,433	15,970
Office
Segment Reporting Information [Line Items]
Revenue from tenants									143,571	149,691	150,154
Total net operating income									124,706	130,305	132,159
Office | Operating Segments
Segment Reporting Information [Line Items]
Revenue from tenants									143,571	149,691	150,154
Total net operating income									$ 124,706	$ 130,305	$ 132,159

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Assets from Segment to Consolidated (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]
Total investments in real estate, net	$ 6,363,302	$ 7,572,320
Assets held for sale	17,406	3,188
Cash and cash equivalents	159,698	121,566	$ 103,335
Restricted cash	64,510	40,833	$ 1,110
Derivative assets, at fair value	2,471	10,615
Unbilled straight-line rent	99,501	84,254
Operating lease right-of-use asset	74,270	77,008
Prepaid expenses and other assets	108,562	121,997
Deferred tax assets	4,866	4,808
Goodwill	51,370	46,976
Deferred financing costs, net	9,808	15,412
Total Assets	$ 6,955,764	8,098,977
Number of reportable segments (segment) | segment	4
Industrial & Distribution
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 22,100
Multi-Tenant Retail
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	7,100
Single-Tenant Retail
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	7,900
Office
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	14,200
Operating Segments | Industrial & Distribution
Segment Reporting, Asset Reconciling Item [Line Items]
Total investments in real estate, net	2,180,309	2,479,804
Operating Segments | Multi-Tenant Retail
Segment Reporting, Asset Reconciling Item [Line Items]
Total investments in real estate, net	1,743,598	2,174,064
Operating Segments | Single-Tenant Retail
Segment Reporting, Asset Reconciling Item [Line Items]
Total investments in real estate, net	1,400,271	1,740,347
Operating Segments | Office
Segment Reporting, Asset Reconciling Item [Line Items]
Total investments in real estate, net	$ 1,039,124	$ 1,178,105

Segment Reporting - Geographic

Segment Reporting - Geographic Distribution of Real Estate Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues	$ 805,010	$ 515,070	$ 378,857
Investments in real estate	7,527,931	8,656,144
Acquired intangible liabilities, gross	107,903	120,022
United States
Segment Reporting Information [Line Items]
Acquired intangible liabilities, gross	91,936	101,342
United Kingdom
Segment Reporting Information [Line Items]
Acquired intangible liabilities, gross	5,279	5,698
Europe
Segment Reporting Information [Line Items]
Acquired intangible liabilities, gross	10,669	12,961
Canada
Segment Reporting Information [Line Items]
Acquired intangible liabilities, gross	19	21
Real Estate Investing
Segment Reporting Information [Line Items]
Revenues	805,010	515,070	378,857
Investments in real estate	7,527,931	8,656,144
Real Estate Investing | United States
Segment Reporting Information [Line Items]
Revenues	655,831	365,092	234,363
Investments in real estate	6,137,882	7,082,979
Real Estate Investing | United Kingdom
Segment Reporting Information [Line Items]
Revenues	84,678	86,916	78,403
Investments in real estate	799,624	903,816
Real Estate Investing | Europe
Segment Reporting Information [Line Items]
Revenues	61,322	59,823	62,852
Investments in real estate	554,133	629,988
Real Estate Investing | Canada
Segment Reporting Information [Line Items]
Revenues	3,179	3,239	$ 3,239
Investments in real estate	$ 36,292	$ 39,361

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net (Loss) Income Before Income Tax:
Domestic	$ (123,188)	$ (118,447)	$ 64,592
Foreign	(3,939)	(78,988)	(41,537)
Net (loss) income before income tax	(127,127)	(197,435)	23,055
Current:
State and Local	134	199	175
Foreign	4,569	16,656	12,814
Total income taxes, current	4,703	16,855	12,989
Deferred:
State and Local	0	0	0
Foreign	(258)	(2,380)	(1,957)
Total income taxes, deferred	(258)	(2,380)	(1,957)
Total income tax expense	$ 4,445	$ 14,475	$ 11,032

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net (loss) income before income tax	$ (127,127)	$ (197,435)	$ 23,055
Tax (benefit) provision at statutory rates	(26,651)	(41,461)	4,842
Foreign rate differential	(295)	1,139	(730)
Foreign financing activities	7,721	11,047	11,320
Tax adjustments related to REIT	25,871	24,874	(13,565)
Deferred tax assets generated in the current year added to valuation allowance	(1,388)	5,949	9,297
Other	(813)	12,927	(132)
Total income tax expense	$ 4,445	$ 14,475	$ 11,032

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets
Basis differences	$ 14,924	$ 11,278
Net operating loss carryforwards	3,205	5,028
Total deferred tax assets	18,129	16,306
Valuation allowance	(13,263)	(11,498)
Net deferred tax assets	4,866	4,808
Deferred Tax Liabilities
Basis differences	(4,170)	(4,552)
Straight-line rent	(1,307)	(1,457)
Total deferred tax liabilities	(5,477)	(6,009)
Net Deferred Tax Liability	$ (611)	$ (1,201)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Millions	Dec. 31, 2024 USD ($)
Foreign Tax Jurisdiction
Tax Credit Carryforward [Line Items]
Operating loss carryforwards	$ 19.8

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions		4 Months Ended
	Feb. 25, 2025 USD ($) property state	Jun. 30, 2025 USD ($)	Feb. 27, 2025 USD ($) property	Dec. 31, 2024 property
Subsequent Event [Line Items]
Number of Properties | property				1,121
Subsequent Event | Common Stock
Subsequent Event [Line Items]
Share repurchase program, authorized, amount	$ 300
Subsequent Event | Discontinued Operations, Disposed of by Sale
Subsequent Event [Line Items]
Number of Properties | property			13
Aggregate price			$ 19.2
Subsequent Event | Discontinued Operations, Held-for-Sale or Disposed of by Sale
Subsequent Event [Line Items]
Number of Properties | property	59
Non-refundable deposit	$ 25
Subsequent Event | Discontinued Operations, Held-for-Sale or Disposed of by Sale | Société Générale and UBS AG
Subsequent Event [Line Items]
Debt securities	210
Subsequent Event | Discontinued Operations, Held-for-Sale or Disposed of by Sale | Barclays Capital Real Estate Inc., Société Générale, KeyBank And Bank Of Montreal
Subsequent Event [Line Items]
Debt securities	$ 260
Subsequent Event | RCG Multi-Tenant Retail Assets | Discontinued Operations, Held-for-Sale or Disposed of by Sale
Subsequent Event [Line Items]
Number of Properties | property	100
Number of states | state	28
Proceeds from divestiture		$ 1,780
Number of real estate properties with debt which requires lender consent | property	41

Real Estate and Accumulated D_2

Real Estate and Accumulated Depreciation Schedule III - Part 1 (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,323,621
Initial cost, land	1,173,643
Initial cost, buildings and improvements	5,187,041
Costs capitalized subsequent to acquisition, land	(1,507)
Costs capitalized subsequent to acquisition, buildings and improvements	110,787
Real estate, gross	6,469,964	$ 7,296,163	$ 3,797,474	$ 3,942,985
Accumulated depreciation	731,854	$ 614,851	$ 501,971	$ 431,886
McDonalds Corporation, Carlisle, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	402
Initial cost, buildings and improvements	764
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,166
Accumulated depreciation	232
Wickes, Blackpool, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,692
Initial cost, buildings and improvements	1,690
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,382
Accumulated depreciation	723
Everything Everywhere, Merthyr Tydfil, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,447
Initial cost, buildings and improvements	1,996
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,443
Accumulated depreciation	769
Thames Water, Swindon, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,447
Initial cost, buildings and improvements	3,696
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	12
Real estate, gross	7,155
Accumulated depreciation	1,407
Wickes, Tunstall, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	878
Initial cost, buildings and improvements	1,865
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,743
Accumulated depreciation	780
PPD Global Labs, Highland Heights, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,001
Initial cost, buildings and improvements	5,162
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,163
Accumulated depreciation	1,774
Northern Rock, Sunderland, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,254
Initial cost, buildings and improvements	3,993
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,247
Accumulated depreciation	1,504
Wickes, Clifton, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,254
Initial cost, buildings and improvements	1,632
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,886
Accumulated depreciation	668
XPO Logistics Freight, Inc., Aurora, NE
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	295
Initial cost, buildings and improvements	1,470
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,765
Accumulated depreciation	685
XPO Logistics Freight, Inc., Grand Rapids, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	945
Initial cost, buildings and improvements	1,247
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,192
Accumulated depreciation	581
XPO Logistics Freight, Inc., Riverton, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	344
Initial cost, buildings and improvements	707
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,051
Accumulated depreciation	330
XPO Logistics Freight, Inc., Salina, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	461
Initial cost, buildings and improvements	1,622
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,083
Accumulated depreciation	756
XPO Logistics Freight, Inc., Uhrichsville, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	380
Initial cost, buildings and improvements	780
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,160
Accumulated depreciation	363
XPO Logistics Freight, Inc., Vincennes, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	220
Initial cost, buildings and improvements	633
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	853
Accumulated depreciation	306
XPO Logistics Freight, Inc., Waite Park, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	366
Initial cost, buildings and improvements	700
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,066
Accumulated depreciation	325
Wolverine, Howard City, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	719
Initial cost, buildings and improvements	12,027
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,746
Accumulated depreciation	5,562
Rheinmetall, Neuss, Germany
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	5,341
Initial cost, buildings and improvements	14,995
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	67
Real estate, gross	20,403
Accumulated depreciation	4,510
GE Aviation, Grand Rapids, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	203
Real estate, gross	30,453
Accumulated depreciation	7,991
Provident Financial, Bradford, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,264
Initial cost, buildings and improvements	23,458
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,722
Accumulated depreciation	6,527
Crown Crest, Leicester, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	7,204
Initial cost, buildings and improvements	29,750
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	36,954
Accumulated depreciation	9,431
Trane, Davenport, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	698
Aviva, Sheffield, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,723
Initial cost, buildings and improvements	30,863
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	33,586
Accumulated depreciation	8,799
DFS Trading, Brigg, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,272
Initial cost, buildings and improvements	3,608
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,880
Accumulated depreciation	1,163
DFS Trading, Carcroft, United Kingdom 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	290
Initial cost, buildings and improvements	2,085
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,375
Accumulated depreciation	707
DFS Trading, Carcroft, United Kingdom 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,070
Initial cost, buildings and improvements	4,237
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,307
Accumulated depreciation	1,264
DFS Trading, Darley Dale, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,252
Initial cost, buildings and improvements	3,213
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,465
Accumulated depreciation	1,058
DFS Trading, Somercotes, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	736
Initial cost, buildings and improvements	2,626
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,362
Accumulated depreciation	1,018
Government Services Administration (GSA), Franklin, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	561
Real estate, gross	34,804
Accumulated depreciation	8,696
National Oilwell, Williston, ND
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,356
Government Services Administration (GSA), Dover, DE
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	690
Real estate, gross	3,502
Accumulated depreciation	583
Government Services Administration (GSA), Germantown, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,097
Initial cost, buildings and improvements	3,573
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	553
Real estate, gross	5,223
Accumulated depreciation	1,561
OBI DIY, Mayen, Germany
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,164
Initial cost, buildings and improvements	6,947
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	177
Real estate, gross	8,288
Accumulated depreciation	2,270
DFS Trading, South Yorkshire, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	1,310
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,310
Accumulated depreciation	566
DFS Trading, Yorkshire, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	1,708
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,708
Accumulated depreciation	495
Government Services Administration (GSA), Dallas, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	839
Government Services Administration (GSA), Mission, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	251
Real estate, gross	4,014
Accumulated depreciation	1,064
Government Services Administration (GSA), International Falls, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	63
Real estate, gross	11,595
Accumulated depreciation	3,301
Indiana Department of Revenue, Indianapolis, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	433
Real estate, gross	9,001
Accumulated depreciation	2,348
National Oilwell, Pleasanton, TX 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	202
Initial cost, buildings and improvements	1,643
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,845
Accumulated depreciation	598
Nissan, Murfreesboro, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	5,432
Government Services Administration (GSA), Lakewood, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	155
Real estate, gross	9,303
Accumulated depreciation	2,224
Lippert Components, South Bend, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,957
Axon Energy Products, Houston I, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	693
Axon Energy Products, Houston II, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,508
Bell Supply Co, Carrizo Springs, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	499
Bell Supply Co, Cleburne, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	124
Bell Supply Co, Frierson, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	504
Bell Supply Co, Gainesville, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	414
Bell Supply Co, Killdeer, ND
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	421
Bell Supply Co, Williston, ND
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	705
GE Oil & Gas, Canton, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	300
Real estate, gross	3,776
Accumulated depreciation	1,038
GE Oil & Gas, Odessa, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,803
Lhoist, Irving, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	125
Real estate, gross	2,452
Accumulated depreciation	788
Select Energy Services, DeBerry, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	3,490
Select Energy Services, Gainesville, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,051
Select Energy Services, Victoria, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	610
Bell Supply Co, Jacksboro, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	315
Bell Supply Co, Kenedy, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	632
Select Energy Services, Alice, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	433
Select Energy Services, Dilley, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	681
Select Energy Services, Kenedy, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,746
Select Energy Services, Laredo, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	460
Superior Energy Services, Gainesville, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	143
Superior Energy Services, Jacksboro, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	127
Amcor Packaging, Workington, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,091
Initial cost, buildings and improvements	6,433
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,524
Accumulated depreciation	2,183
Government Services Administration (GSA), Raton, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	271
Nimble Storage, San Jose, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	30,227
Initial cost, buildings and improvements	10,795
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	180
Real estate, gross	41,202
Accumulated depreciation	3,141
FedEx, Amarillo, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	889
Initial cost, buildings and improvements	6,446
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,335
Accumulated depreciation	2,201
FedEx, Chicopee, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,087
Real estate, gross	10,139
Accumulated depreciation	3,565
FedEx, San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,283
Initial cost, buildings and improvements	17,756
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	598
Real estate, gross	21,637
Accumulated depreciation	5,039
Sandoz, Princeton, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	7,766
Initial cost, buildings and improvements	31,994
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	12,091
Real estate, gross	51,851
Accumulated depreciation	18,712
Wyndham, Branson, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	992
Government Services Administration (GSA), Fort Fairfield, ME
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,477
AT&T Services, Inc., San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
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	10,839
PNC Bank, Erie, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,664
PNC Bank, Scranton, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,324
Initial cost, buildings and improvements	3,004
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,328
Accumulated depreciation	827
Continental Tire, Fort Mill, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	3,821
Fujitsu Office Properties, Manchester, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,540
Initial cost, buildings and improvements	38,320
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2,296
Real estate, gross	44,156
Accumulated depreciation	10,428
BP Oil, Wootton Bassett, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	574
Initial cost, buildings and improvements	2,482
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,056
Accumulated depreciation	718
HBOS, Derby, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	576
Initial cost, buildings and improvements	5,804
Costs capitalized subsequent to acquisition, land	(330)
Costs capitalized subsequent to acquisition, buildings and improvements	(4,065)
Real estate, gross	1,985
Accumulated depreciation	0
HBOS, St. Helens, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	218
Initial cost, buildings and improvements	3,289
Costs capitalized subsequent to acquisition, land	(125)
Costs capitalized subsequent to acquisition, buildings and improvements	(2,309)
Real estate, gross	1,073
Accumulated depreciation	0
HBOS, Warrington, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	417
Initial cost, buildings and improvements	1,965
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,382
Accumulated depreciation	638
Malthurst, Shiptonthorpe, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	264
Initial cost, buildings and improvements	1,878
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,142
Accumulated depreciation	598
Malthurst, Yorkshire, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	469
Initial cost, buildings and improvements	1,229
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,698
Accumulated depreciation	513
Stanley Black & Decker, Westerville, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	4,410
Real estate, gross	12,301
Accumulated depreciation	2,673
Capgemini, Birmingham, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,560
Initial cost, buildings and improvements	14,794
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	4,806
Real estate, gross	21,160
Accumulated depreciation	4,914
Merck, Madison, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	10,290
Initial cost, buildings and improvements	32,530
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	42,820
Accumulated depreciation	8,573
Government Services Administration (GSA), Rangeley, ME
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,377
Initial cost, buildings and improvements	4,746
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	1,104
Real estate, gross	7,227
Accumulated depreciation	1,640
Hewlett-Packard, Newcastle, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,078
Initial cost, buildings and improvements	17,946
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,024
Accumulated depreciation	4,878
Intier Automotive, Redditch, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,113
Initial cost, buildings and improvements	8,813
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,926
Accumulated depreciation	2,665
Waste Management, Winston-Salem, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	900
Dollar General, Allen, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	231
Dollar General, Cherokee, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	227
Dollar General, Clearwater, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	231
Dollar General, Dexter, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	172
Dollar General, Elmore City, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	222
Dollar General, Eunice, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	170
Dollar General, Gore, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	240
Dollar General, Kingston, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	231
Dollar General, Lordsburg, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	211
Dollar General, Lyons, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	282
Dollar General, Mansfield, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	238
Dollar General, Neligh, NE
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	297
Dollar General, Norman, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	267
Dollar General, Peggs, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	257
Dollar General, Santa Rosa, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	170
Dollar General, Sapulpa, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	224
Dollar General, Schuyler, NE
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	260
Dollar General, Tahlequah, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	268
Dollar General, Townville, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	272
Dollar General, Valley Falls, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	262
Dollar General, Wymore, NE
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	253
FedEx, Bohemia, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,065
Real estate, gross	25,499
Accumulated depreciation	5,895
FedEx, Watertown, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,481
Shaw Aero, Naples, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	900
Real estate, gross	24,230
Accumulated depreciation	6,083
Mallinckrodt, St. Louis, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	4,533
Kuka Warehouse, Sterling Heights, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,906
Trinity Health, Livonia, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	4,273
Initial cost, buildings and improvements	16,574
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	11,400
Real estate, gross	32,247
Accumulated depreciation	7,008
FedEx, Hebron, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	338
Real estate, gross	9,194
Accumulated depreciation	2,265
FedEx, Lexington, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,235
DNV GL, Dublin, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	541
Real estate, gross	6,190
Accumulated depreciation	988
Rexam, Reckinghausen, Germany
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	732
Initial cost, buildings and improvements	10,309
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,041
Accumulated depreciation	2,786
FedEx, Lake Charles, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	572
Real estate, gross	8,312
Accumulated depreciation	2,530
Onguard, Havre De Grace, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,624
Real estate, gross	10,425
Accumulated depreciation	2,785
Metro Tonic, Halle Peissen, Germany
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	6,312
Initial cost, buildings and improvements	44,223
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	50,535
Accumulated depreciation	13,239
Tokmanni, Matsala, Finland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,636
Initial cost, buildings and improvements	49,508
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	51,144
Accumulated depreciation	13,965
Government Services Administration (GSA), Rapid City, SD
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,156
KPN BV, Houten, Netherlands
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,464
Initial cost, buildings and improvements	17,916
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,380
Accumulated depreciation	4,624
Follett School, McHenry, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,307
Real estate, gross	21,330
Accumulated depreciation	5,128
Weatherford International, Odessa, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	799
AM Castle, Wichita, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	509
Real estate, gross	7,616
Accumulated depreciation	1,860
FedEx, Billerica, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,024
Real estate, gross	8,836
Accumulated depreciation	2,369
Constellium Auto, Van Buren, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,180
Initial cost, buildings and improvements	13,781
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	7,875
Real estate, gross	22,836
Accumulated depreciation	9,035
C&J Energy, Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	5,572
FedEx, Salina, UT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	428
Initial cost, buildings and improvements	3,447
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,875
Accumulated depreciation	1,259
FedEx, Pierre, SD
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,155
Crowne Group, Fraser, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,007
Crowne Group, Jonesville, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	841
Crowne Group, Logansport, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,657
Crowne Group, Marion, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,227
JIT Steel, Chattanooga, TN 1
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	771
JIT Steel, Chattanooga, TN 2
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	479
Mapes & Sprowl, Elk Grove Village, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	1,175
National Oilwell, Pleasanton, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	80
Initial cost, buildings and improvements	3,372
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,452
Accumulated depreciation	910
Office Depot, Venlo, Netherlands
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,239
Initial cost, buildings and improvements	14,326
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,565
Accumulated depreciation	4,013
Finnair, Helinski, Finland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,337
Initial cost, buildings and improvements	66,609
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	68,946
Accumulated depreciation	16,744
Hannibal, Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,713
FedEx, Mankato, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	2,118
Auchan, Beychac-et-Caillau, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,761
Initial cost, buildings and improvements	12,232
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	5,267
Real estate, gross	21,260
Accumulated depreciation	3,774
DCNS, Guipavas, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,755
Initial cost, buildings and improvements	13,315
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,070
Accumulated depreciation	2,947
Deutsche Bank, Kirchberg, Luxembourg
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	13,417
Initial cost, buildings and improvements	45,635
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	715
Real estate, gross	59,767
Accumulated depreciation	9,507
FedEx, Greensboro, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,820
Initial cost, buildings and improvements	8,252
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,072
Accumulated depreciation	2,295
Harper Collins, Glasgow, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	9,904
Initial cost, buildings and improvements	50,590
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	60,494
Accumulated depreciation	11,224
ID Logistics, Landersheim, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,790
Initial cost, buildings and improvements	7,522
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,312
Accumulated depreciation	1,645
ID Logistics, Moreuil, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,763
Initial cost, buildings and improvements	5,588
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,351
Accumulated depreciation	1,285
ID Logistics, Weilbach, Germany
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,237
Initial cost, buildings and improvements	8,174
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,411
Accumulated depreciation	1,707
ING Bank, Amsterdam Zuidoos, Netherlands
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	67,641
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2,532
Real estate, gross	70,173
Accumulated depreciation	14,037
NCR Financial Solutions Group, Dundee, UK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,520
Initial cost, buildings and improvements	8,061
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,581
Accumulated depreciation	2,009
Pole Emploi, Marseille, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	741
Initial cost, buildings and improvements	7,807
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	91
Real estate, gross	8,639
Accumulated depreciation	1,597
Worldline SA, Blois, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,049
Initial cost, buildings and improvements	4,994
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,043
Accumulated depreciation	1,406
Cott Beverages, Sikeston, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	456
Initial cost, buildings and improvements	8,291
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	147
Real estate, gross	8,894
Accumulated depreciation	1,747
FedEx, Great Falls, MT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	326
Initial cost, buildings and improvements	5,439
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,765
Accumulated depreciation	1,529
FedEx, Morgantown, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	4,661
Initial cost, buildings and improvements	8,401
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,062
Accumulated depreciation	1,864
Bridgestone Tire, Mt. Olive Twp, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	916
Initial cost, buildings and improvements	5,088
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,004
Accumulated depreciation	1,023
NSA Industries, St. Johnsbury, VT 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	210
Initial cost, buildings and improvements	1,753
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,963
Accumulated depreciation	368
NSA Industries, St. Johnsbury, VT 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	300
Initial cost, buildings and improvements	3,936
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	491
Real estate, gross	4,727
Accumulated depreciation	1,079
NSA Industries, St. Johnsbury, VT 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	270
Initial cost, buildings and improvements	3,858
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,128
Accumulated depreciation	822
GKN Aerospace, Blue Ash, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	790
Initial cost, buildings and improvements	4,079
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,869
Accumulated depreciation	844
Tremec, Wixom, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,002
Initial cost, buildings and improvements	17,376
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	18,378
Accumulated depreciation	3,613
NSA Industries, Groveton, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	59
Initial cost, buildings and improvements	3,517
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,576
Accumulated depreciation	633
Cummins, Omaha, NE
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,448
Initial cost, buildings and improvements	6,469
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,917
Accumulated depreciation	1,418
Government Services Administration (GSA), Gainsville, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	451
Initial cost, buildings and improvements	6,016
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	53
Real estate, gross	6,520
Accumulated depreciation	1,117
Chemours, Pass Christian, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	382
Initial cost, buildings and improvements	16,149
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,531
Accumulated depreciation	3,351
Lee Steel, Wyoming, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	504
Initial cost, buildings and improvements	7,256
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,760
Accumulated depreciation	1,284
LSI Steel, Chicago, IL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,341
Initial cost, buildings and improvements	1,181
Costs capitalized subsequent to acquisition, land	(1,228)
Costs capitalized subsequent to acquisition, buildings and improvements	(566)
Real estate, gross	2,728
Accumulated depreciation	0
LSI Steel, Chicago, IL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,792
Initial cost, buildings and improvements	5,615
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,407
Accumulated depreciation	953
LSI Steel, Chicago, IL 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,856
Initial cost, buildings and improvements	948
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,804
Accumulated depreciation	182
Fiat Chrysler, Sterling Heights, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,855
Initial cost, buildings and improvements	13,623
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,478
Accumulated depreciation	2,769
Contractors Steel, Belleville, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,862
Initial cost, buildings and improvements	25,878
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	6,296
Real estate, gross	35,036
Accumulated depreciation	6,584
Contractors Steel, Hammond, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,970
Initial cost, buildings and improvements	8,859
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,829
Accumulated depreciation	1,883
Contractors Steel, Livonia, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	933
Initial cost, buildings and improvements	8,554
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	1,357
Real estate, gross	10,844
Accumulated depreciation	2,255
Contractors Steel, Twinsburg, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	729
Initial cost, buildings and improvements	8,707
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2,500
Real estate, gross	11,936
Accumulated depreciation	3,009
Contractors Steel, Wyoming, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	970
Initial cost, buildings and improvements	12,426
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	1,232
Real estate, gross	14,628
Accumulated depreciation	2,961
FedEx, Blackfoot, ID
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	350
Initial cost, buildings and improvements	6,882
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,232
Accumulated depreciation	2,067
DuPont Pioneer, Spencer, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	273
Initial cost, buildings and improvements	6,718
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	607
Real estate, gross	7,598
Accumulated depreciation	1,490
Rubbermaid, Akron, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,221
Initial cost, buildings and improvements	17,145
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	18,366
Accumulated depreciation	2,827
NetScout, Allen, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,115
Initial cost, buildings and improvements	41,486
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	43,601
Accumulated depreciation	6,756
Bush Industries, Jamestown, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,535
Initial cost, buildings and improvements	14,818
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,353
Accumulated depreciation	2,504
FedEx, Greenville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	581
Initial cost, buildings and improvements	9,744
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,325
Accumulated depreciation	3,079
Penske, Romulus, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	70,000
Initial cost, land	4,701
Initial cost, buildings and improvements	105,826
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	163
Real estate, gross	110,690
Accumulated depreciation	17,559
NSA Industries, Georgetown, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,100
Initial cost, buildings and improvements	6,059
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	1,198
Real estate, gross	8,357
Accumulated depreciation	1,525
LKQ Corp., Cullman, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	61
Initial cost, buildings and improvements	3,781
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,842
Accumulated depreciation	651
Grupo Antolin North America, Inc., Shelby Township, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,941
Initial cost, buildings and improvements	41,648
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	43,589
Accumulated depreciation	6,921
Walgreens, Pittsburgh, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,701
Initial cost, buildings and improvements	13,718
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,419
Accumulated depreciation	2,305
VersaFlex, Kansas City, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	519
Initial cost, buildings and improvements	7,581
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,100
Accumulated depreciation	1,184
Cummins, Gillette, WY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,197
Initial cost, buildings and improvements	5,470
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	516
Real estate, gross	7,183
Accumulated depreciation	1,108
Stanley Security, Fishers, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,246
Initial cost, buildings and improvements	11,879
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,125
Accumulated depreciation	1,882
Sierra Nevada Corp., Colorado Springs, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	16,105
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,105
Accumulated depreciation	2,514
EQT Corp., Waynesburg, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	875
Initial cost, buildings and improvements	11,126
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,001
Accumulated depreciation	1,866
Hanes, Calhoun, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	731
Initial cost, buildings and improvements	8,104
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,835
Accumulated depreciation	1,454
Union Partners, Aurora, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	929
Initial cost, buildings and improvements	11,621
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,550
Accumulated depreciation	1,751
Union Partners, Dearborn, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,028
Initial cost, buildings and improvements	11,645
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,673
Accumulated depreciation	1,835
ComDoc, North Canton, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	602
Initial cost, buildings and improvements	15,128
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,730
Accumulated depreciation	2,471
Metal Technologies, Bloomfield, IN 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	277
Initial cost, buildings and improvements	9,552
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,829
Accumulated depreciation	1,626
Encompass Health, Birmingham, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,746
Initial cost, buildings and improvements	55,568
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	57,314
Accumulated depreciation	7,761
Heatcraft, Tifton, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	346
Initial cost, buildings and improvements	9,064
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,410
Accumulated depreciation	1,269
CF Sauer SLB, Mauldin, SC 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	40
Initial cost, buildings and improvements	343
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	383
Accumulated depreciation	55
CF Sauer SLB, Mauldin, SC 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	232
Initial cost, buildings and improvements	15,488
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,720
Accumulated depreciation	2,243
CF Sauer SLB, Mauldin, SC 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	348
Initial cost, buildings and improvements	4,747
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,095
Accumulated depreciation	840
CF Sauer SLB, Mauldin, SC 4
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	190
Initial cost, buildings and improvements	9,488
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,678
Accumulated depreciation	1,371
CF Sauer SLB, Orlando, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	237
Initial cost, buildings and improvements	351
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	588
Accumulated depreciation	68
CF Sauer SLB, San Luis Obispo, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,201
Initial cost, buildings and improvements	12,884
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,085
Accumulated depreciation	1,937
SWECO, Florence, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,080
Initial cost, buildings and improvements	21,924
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,004
Accumulated depreciation	3,561
Viavi Solutions, Santa Rosa, CA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,061
Initial cost, buildings and improvements	5,929
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2,358
Real estate, gross	11,348
Accumulated depreciation	1,513
Viavi Solutions, Santa Rosa, CA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,073
Initial cost, buildings and improvements	7,130
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2,171
Real estate, gross	12,374
Accumulated depreciation	1,654
Faurecia, Auburn Hills, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,310
Initial cost, buildings and improvements	38,278
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2,055
Real estate, gross	43,643
Accumulated depreciation	6,387
Plasma, Garland, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	595
Initial cost, buildings and improvements	2,421
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,016
Accumulated depreciation	397
Plasma, El Paso, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	72
Initial cost, buildings and improvements	2,478
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,550
Accumulated depreciation	317
Plasma, Bradenton, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	185
Initial cost, buildings and improvements	3,747
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,932
Accumulated depreciation	507
Plasma, Hickory, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	494
Initial cost, buildings and improvements	3,702
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,196
Accumulated depreciation	522
Plasma, Lake Charles, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	301
Initial cost, buildings and improvements	1,730
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,031
Accumulated depreciation	258
Plasma, Mission, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	275
Initial cost, buildings and improvements	1,735
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,010
Accumulated depreciation	249
Plasma, Meridian, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	203
Initial cost, buildings and improvements	2,965
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,168
Accumulated depreciation	422
Plasma, Peoria, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	206
Initial cost, buildings and improvements	2,578
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,784
Accumulated depreciation	348
Whirlpool, Cleveland, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,230
Initial cost, buildings and improvements	20,923
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	23,153
Accumulated depreciation	3,125
Whirlpool, Clyde, OH 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,641
Initial cost, buildings and improvements	20,072
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	21,713
Accumulated depreciation	2,915
Whirlpool, Clyde, OH 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,559
Initial cost, buildings and improvements	17,283
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	20,842
Accumulated depreciation	2,944
Whirlpool, Findlay, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,344
Initial cost, buildings and improvements	22,624
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	23,968
Accumulated depreciation	3,086
Whirlpool, Marion, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,876
Initial cost, buildings and improvements	27,850
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	29,726
Accumulated depreciation	3,844
Whirlpool, Ottawa, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,155
Initial cost, buildings and improvements	19,919
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	23,628
Real estate, gross	46,702
Accumulated depreciation	5,103
FedEx, Bathurst, Canada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	35
Initial cost, buildings and improvements	1,997
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,032
Accumulated depreciation	400
FedEx, Woodstock, Canada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	389
Initial cost, buildings and improvements	3,494
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,883
Accumulated depreciation	592
NSA Industries, Franklin, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	237
Initial cost, buildings and improvements	7,968
Costs capitalized subsequent to acquisition, land	(3)
Costs capitalized subsequent to acquisition, buildings and improvements	6,006
Real estate, gross	14,208
Accumulated depreciation	1,734
Viavi, Santa Rosa, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,209
Initial cost, buildings and improvements	4,203
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	1,482
Real estate, gross	8,894
Accumulated depreciation	1,093
CSTK, St. Louis, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,405
Initial cost, buildings and improvements	8,155
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,560
Accumulated depreciation	1,386
Metal Technologies, Bloomfield, IN 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	167
Initial cost, buildings and improvements	1,034
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,201
Accumulated depreciation	174
Whirlpool, Fabriano, ITA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	223
Initial cost, buildings and improvements	5,271
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,494
Accumulated depreciation	647
Whirlpool, Fabriano, ITA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,603
Initial cost, buildings and improvements	15,067
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,670
Accumulated depreciation	2,021
FedEx, Moncton, Canada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	275
Initial cost, buildings and improvements	2,740
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,015
Accumulated depreciation	422
Klaussner, Asheboro, NC 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	4,102
Initial cost, buildings and improvements	10,420
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,522
Accumulated depreciation	1,433
Klaussner, Candor, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,705
Initial cost, buildings and improvements	9,528
Costs capitalized subsequent to acquisition, land	(228)
Costs capitalized subsequent to acquisition, buildings and improvements	(1,153)
Real estate, gross	9,852
Accumulated depreciation	1,175
Plasma, Danville, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	434
Initial cost, buildings and improvements	2,209
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,643
Accumulated depreciation	299
Plasma, Des Moines, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	254
Initial cost, buildings and improvements	2,827
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,081
Accumulated depreciation	350
Plasma, Youngstown, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	41
Initial cost, buildings and improvements	4,600
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,641
Accumulated depreciation	543
Plasma, Dayton, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	61
Initial cost, buildings and improvements	1,796
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,857
Accumulated depreciation	219
Klaussner, Asheboro, NC 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,438
Initial cost, buildings and improvements	3,025
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,463
Accumulated depreciation	359
NSA Industries, Franklin, NH 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	161
Initial cost, buildings and improvements	2,857
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,018
Accumulated depreciation	414
Johnson Controls, Manchester, United Kingdom 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	9,923
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,923
Accumulated depreciation	1,131
Johnson Controls, Manchester, United Kingdom 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	1,389
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,389
Accumulated depreciation	189
Broadridge Financial Solutions, El Dorado Hills, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	5,524
Initial cost, buildings and improvements	47,050
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	52,574
Accumulated depreciation	5,366
Broadridge Financial Solutions, Kansas City, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	5,731
Initial cost, buildings and improvements	27,736
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	33,467
Accumulated depreciation	3,088
Broadridge Financial Solutions, South Windsor, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	6,473
Initial cost, buildings and improvements	32,490
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	38,963
Accumulated depreciation	3,974
Broadridge Financial Solutions, Falconer, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	355
Initial cost, buildings and improvements	16,492
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,847
Accumulated depreciation	1,794
ZF Active Safety, Findlay, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,231
Initial cost, buildings and improvements	21,410
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	22,641
Accumulated depreciation	2,374
Johnson Controls, Montigny-Le-Bretonneux, France
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,014
Initial cost, buildings and improvements	2,669
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,683
Accumulated depreciation	284
FCA USA, Detroit, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	5,125
Initial cost, buildings and improvements	95,485
Costs capitalized subsequent to acquisition, land	973
Costs capitalized subsequent to acquisition, buildings and improvements	564
Real estate, gross	102,147
Accumulated depreciation	10,299
Momentum Manufacturing Group, Amherst, NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	498
Initial cost, buildings and improvements	5,233
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,731
Accumulated depreciation	559
Cameron International, Pearsall, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	298
Initial cost, buildings and improvements	6,356
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,654
Accumulated depreciation	765
McLaren, Woking, United Kingdom 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	12,629
Initial cost, buildings and improvements	129,932
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	142,561
Accumulated depreciation	12,354
McLaren, Woking, United Kingdom 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	8,942
Initial cost, buildings and improvements	52,419
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	61,361
Accumulated depreciation	5,215
Trafalgar Court, St. Peter Port, Channel Islands
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	11,271
Initial cost, buildings and improvements	53,838
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	81
Real estate, gross	65,190
Accumulated depreciation	4,523
Walmart Inc., Bentonville, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	4,358
Initial cost, buildings and improvements	33,231
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	37,589
Accumulated depreciation	3,014
Pilot Point Steel, Hallettsville, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	386
Initial cost, buildings and improvements	3,085
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,471
Accumulated depreciation	406
Pilot Point Steel, Pilot Point, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	854
Initial cost, buildings and improvements	7,184
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,038
Accumulated depreciation	738
Promess Incorporated, Brighton, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	299
Initial cost, buildings and improvements	6,170
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,469
Accumulated depreciation	513
Promess Incorporated, Brighton, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	278
Initial cost, buildings and improvements	1,824
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,102
Accumulated depreciation	170
Promess Incorporated, Brighton, MI 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	288
Initial cost, buildings and improvements	1,758
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,046
Accumulated depreciation	152
Thetford Corporation, Ann Arbor, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,353
Initial cost, buildings and improvements	8,197
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,550
Accumulated depreciation	755
Thetford Corporation, Dexter, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,307
Initial cost, buildings and improvements	10,248
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,555
Accumulated depreciation	927
Thetford Corporation, Mishawaka, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	616
Initial cost, buildings and improvements	4,659
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,275
Accumulated depreciation	425
PFB America Corporation, Blissfield, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	219
Initial cost, buildings and improvements	2,121
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,340
Accumulated depreciation	206
PFB America Corporation, Blissfield, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	118
Initial cost, buildings and improvements	651
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	769
Accumulated depreciation	60
PFB America Corporation, Lebanon, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	398
Initial cost, buildings and improvements	4,718
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,116
Accumulated depreciation	392
PFB America Corporation, Lester Prairie, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	448
Initial cost, buildings and improvements	5,817
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,265
Accumulated depreciation	491
Plasti-Fab Ltd, Crossfield, Canada 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	800
Initial cost, buildings and improvements	5,154
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,954
Accumulated depreciation	442
Plasti-Fab Ltd, Crossfield, Canada 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,079
Initial cost, buildings and improvements	4,277
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,356
Accumulated depreciation	393
Plasti-Fab Ltd, Kitchener, Canada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,885
Initial cost, buildings and improvements	6,687
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,572
Accumulated depreciation	532
Plasti-Fab Ltd, Winnipeg, Canada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	959
Initial cost, buildings and improvements	315
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,274
Accumulated depreciation	33
Thetford Corporation, Etten-Leur, Netherlands
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	3,617
Initial cost, buildings and improvements	14,688
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	18,305
Accumulated depreciation	1,264
Executive Mailing Service, Palos Hills, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	2,061
Initial cost, buildings and improvements	9,339
Costs capitalized subsequent to acquisition, land	(566)
Costs capitalized subsequent to acquisition, buildings and improvements	(2,992)
Real estate, gross	7,842
Accumulated depreciation	44
Caledonia House, Glasgow, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,507
Initial cost, buildings and improvements	11,261
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,768
Accumulated depreciation	797
Momentum Manufacturing Group, Georgetown, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	610
Initial cost, buildings and improvements	5,349
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,959
Accumulated depreciation	358
Wallgreens Boots Alliance Inc., Coventry, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	3,340
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,340
Accumulated depreciation	160
Wallgreens Boots Alliance Inc., Stortford, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	468
Initial cost, buildings and improvements	1,680
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,148
Accumulated depreciation	80
Wallgreens Boots Alliance Inc., United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	816
Initial cost, buildings and improvements	2,793
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,609
Accumulated depreciation	134
Wallgreens Boots Alliance Inc., Southhampton, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,663
Initial cost, buildings and improvements	3,709
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,372
Accumulated depreciation	179
Wallgreens Boots Alliance Inc., Poole, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	0
Initial cost, buildings and improvements	4,435
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,435
Accumulated depreciation	213
Wallgreens Boots Alliance Inc., Taunton, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	499
Initial cost, buildings and improvements	3,355
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,854
Accumulated depreciation	162
Wallgreens Boots Alliance Inc., Glouchester, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	363
Initial cost, buildings and improvements	5,344
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,707
Accumulated depreciation	258
Wallgreens Boots Alliance Inc., Tunbrdige Wells, United Kingdom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost, land	1,027
Initial cost, buildings and improvements	5,926
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,953
Accumulated depreciation	284
Dollar General I, Mission, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	654
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	904
Accumulated depreciation	26
Dollar General I, Sullivan, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
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	923
Accumulated depreciation	26
Walgreens I, Pine Bluff, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	840
Initial cost, buildings and improvements	2,014
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,854
Accumulated depreciation	79
Dollar General II, Bogalusa, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	688
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	968
Accumulated depreciation	27
Dollar General II, Donaldsonville, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	614
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	874
Accumulated depreciation	24
AutoZone I, Cut Off, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	858
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,188
Accumulated depreciation	34
Dollar General III, Athens, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	654
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	904
Accumulated depreciation	26
Dollar General III, Fowler, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	651
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	911
Accumulated depreciation	26
Dollar General III, Hudson, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	671
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	941
Accumulated depreciation	26
Dollar General III, Muskegon, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	620
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	910
Accumulated depreciation	25
Dollar General III, Reese, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	650
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	910
Accumulated depreciation	26
BSFS I, Fort Myers, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	800
Initial cost, buildings and improvements	2,255
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,055
Accumulated depreciation	87
Dollar General IV, Bainbridge, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	559
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	809
Accumulated depreciation	22
Dollar General IV, Vanleer, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	552
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	782
Accumulated depreciation	22
Tractor Supply I, Vernon, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	950
Initial cost, buildings and improvements	3,016
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,966
Accumulated depreciation	117
Dollar General V, Meraux, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	1,326
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,846
Accumulated depreciation	52
Mattress Firm I, Tallahassee, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,355
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,865
Accumulated depreciation	53
Lowe's I, Fayetteville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	10,178
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,178
Accumulated depreciation	383
Lowe's I, Macon, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	12,230
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,230
Accumulated depreciation	459
Lowe's I, New Bern, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,050
Initial cost, buildings and improvements	6,794
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,844
Accumulated depreciation	275
Lowe's I, Rocky Mount, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,260
Initial cost, buildings and improvements	7,390
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,650
Accumulated depreciation	297
O'Reilly Auto Parts I, Manitowoc, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	631
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	851
Accumulated depreciation	26
Food Lion I, Charlotte, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,660
Initial cost, buildings and improvements	5,890
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,550
Accumulated depreciation	229
Lowe's I, Aiken, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	6,963
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,963
Accumulated depreciation	272
Dollar General VII, Gasburg, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
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	987
Accumulated depreciation	28
Dollar General VI, Natalbany, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	844
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,164
Accumulated depreciation	33
Walgreens II, Tucker, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	3,963
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,963
Accumulated depreciation	147
Family Dollar III, Challis, ID
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
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	943
Accumulated depreciation	26
Chili's I, Lake Jackson, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,586
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,186
Accumulated depreciation	62
Chili's I, Victoria, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,703
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,383
Accumulated depreciation	67
CVS I, Anniston, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	580
Initial cost, buildings and improvements	1,621
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,201
Accumulated depreciation	63
Tire Kingdom I, Lake Wales, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
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	1,927
Accumulated depreciation	55
AutoZone II, Temple, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	814
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,184
Accumulated depreciation	33
Dollar General VIII, Stanleytown, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	833
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,133
Accumulated depreciation	33
Fresenius I, Montevallo, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	580
Initial cost, buildings and improvements	1,425
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,005
Accumulated depreciation	56
Dollar General IX, Mabelvale, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	519
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	719
Accumulated depreciation	20
Advance Auto I, Angola, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	370
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	540
Accumulated depreciation	15
Arby's I, Hernando, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,485
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,085
Accumulated depreciation	58
CVS II, Holyoke, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	5,188
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,188
Accumulated depreciation	191
Walgreens III, Lansing, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,070
Initial cost, buildings and improvements	2,917
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,987
Accumulated depreciation	114
Walgreens IV, Beaumont, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	620
Initial cost, buildings and improvements	1,618
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,238
Accumulated depreciation	63
Dollar General X, Greenwell Springs, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	1,043
Accumulated depreciation	31
Home Depot I, Birmingham, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	9,800
Initial cost, buildings and improvements	27,391
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	37,191
Accumulated depreciation	1,158
Home Depot I, Valdosta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	9,250
Initial cost, buildings and improvements	24,191
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	33,441
Accumulated depreciation	1,030
New Breed Logistics I, Hanahan, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,560
Initial cost, buildings and improvements	10,822
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,382
Accumulated depreciation	493
Truist Bank I, Atlanta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	1,128
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,548
Accumulated depreciation	44
Truist Bank I, Fort Pierce, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	1,370
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,910
Accumulated depreciation	54
Truist Bank I, Nashville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	543
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	753
Accumulated depreciation	21
Truist Bank I, New Market, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	830
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,150
Accumulated depreciation	33
Truist Bank I, New Smyrna Beach, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	890
Initial cost, buildings and improvements	2,324
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,214
Accumulated depreciation	91
Truist Bank I, Oak Ridge, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,172
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,602
Accumulated depreciation	46
Truist Bank I, Orlando, FL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	590
Initial cost, buildings and improvements	1,603
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,193
Accumulated depreciation	63
Truist Bank I, Orlando, FL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	890
Initial cost, buildings and improvements	2,324
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,214
Accumulated depreciation	91
Truist Bank I, Savannah, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,033
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,413
Accumulated depreciation	40
Truist Bank I, Summerfield, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	540
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	730
Accumulated depreciation	21
Truist Bank I, Thomson, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	953
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,313
Accumulated depreciation	37
Truist Bank I, Vinton, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	120
Initial cost, buildings and improvements	324
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	444
Accumulated depreciation	13
Truist Bank I, Washington, DC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	730
Initial cost, buildings and improvements	1,902
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,632
Accumulated depreciation	74
Truist Bank I, Waycross, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
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	1,546
Accumulated depreciation	44
Truist Bank I, Waynesville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	702
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	962
Accumulated depreciation	27
Circle K I, Aledo, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	450
Initial cost, buildings and improvements	1,475
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,925
Accumulated depreciation	57
Circle K I, Bedford, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	950
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,260
Accumulated depreciation	37
Circle K I, Bloomington, IL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
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	892
Accumulated depreciation	26
Circle K I, Bloomington, IL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	627
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	817
Accumulated depreciation	24
Circle K I, Burlington, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	517
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	677
Accumulated depreciation	20
Circle K I, Champaign, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	195
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	830
Accumulated depreciation	25
Circle K I, Clinton, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	765
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,005
Accumulated depreciation	30
Circle K I, Galesburg, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	1,076
Accumulated depreciation	32
Circle K I, Jacksonville, IL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	545
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	715
Accumulated depreciation	21
Circle K I, Jacksonville, IL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	130
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	540
Accumulated depreciation	16
Circle K I, Lafayette, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	784
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,034
Accumulated depreciation	30
Circle K I, Mattoon, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	1,202
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,572
Accumulated depreciation	46
Circle K I, Morton, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	611
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	791
Accumulated depreciation	24
Circle K I, Muscatine, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	755
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	985
Accumulated depreciation	29
Circle K I, Paris, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	845
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,105
Accumulated depreciation	33
Circle K I, Staunton, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,593
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,103
Accumulated depreciation	62
Circle K I, Streetsboro, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	730
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	970
Accumulated depreciation	28
Circle K I, Vandalia, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	1,031
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,361
Accumulated depreciation	40
Circle K I, Virden, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	1,024
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,364
Accumulated depreciation	40
Walgreens VI, Gillette, WY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	920
Initial cost, buildings and improvements	2,336
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,256
Accumulated depreciation	91
Walgreens V, Oklahoma City, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,120
Initial cost, buildings and improvements	3,162
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,282
Accumulated depreciation	123
1st Constitution Bancorp I, Hightstown, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,131
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,561
Accumulated depreciation	44
FedEx Ground I, Watertown, SD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	780
Initial cost, buildings and improvements	1,755
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,535
Accumulated depreciation	76
Krystal I, Chattanooga, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	689
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	969
Accumulated depreciation	27
Krystal I, Cleveland, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,084
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,464
Accumulated depreciation	42
Krystal I, Columbus, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,009
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,409
Accumulated depreciation	40
Krystal I, Ft. Oglethorpe, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	961
Accumulated depreciation	28
Krystal I, Jacksonville, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	898
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,258
Accumulated depreciation	35
O'Charley's I, Corydon, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	384
Initial cost, buildings and improvements	1,016
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,400
Accumulated depreciation	8
Walgreens VII, Alton, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,150
Initial cost, buildings and improvements	2,980
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,130
Accumulated depreciation	116
Walgreens VII, Florissant, MO 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,239
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,699
Accumulated depreciation	48
Walgreens VII, Florissant, MO 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	470
Initial cost, buildings and improvements	1,255
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,725
Accumulated depreciation	49
Walgreens VII, Mahomet, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,130
Initial cost, buildings and improvements	2,797
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,927
Accumulated depreciation	110
Walgreens VII, Monroe, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	900
Initial cost, buildings and improvements	2,532
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,432
Accumulated depreciation	98
Walgreens VII, Springfield, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,080
Initial cost, buildings and improvements	2,846
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,926
Accumulated depreciation	111
Walgreens VII, St Louis, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	750
Initial cost, buildings and improvements	1,960
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,710
Accumulated depreciation	76
Walgreens VII, Washington, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	930
Initial cost, buildings and improvements	2,514
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,444
Accumulated depreciation	98
Tractor Supply II, Houghton, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,061
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,461
Accumulated depreciation	42
National Tire & Battery II, Mundelein, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	3,549
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,549
Accumulated depreciation	131
Tractor Supply III, Harlan, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	2,080
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,760
Accumulated depreciation	81
Mattress Firm II, Knoxville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	767
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,067
Accumulated depreciation	30
Dollar General XI, Greenville, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	652
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	892
Accumulated depreciation	26
Talecris Plasma Resources I, Eagle Pass, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	810
Initial cost, buildings and improvements	1,991
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,801
Accumulated depreciation	79
Dollar General XII, Le Center, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	574
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	834
Accumulated depreciation	23
Advance Auto II, Bunnell, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
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	1,336
Accumulated depreciation	38
Advance Auto II, Washington, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	866
Accumulated depreciation	24
Dollar General XIII, Vidor, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	521
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	751
Accumulated depreciation	21
FedEx Ground II, Leland, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,170
Initial cost, buildings and improvements	2,660
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,830
Accumulated depreciation	117
Burger King I, Algonquin, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,314
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,804
Accumulated depreciation	52
Burger King I, Antioch, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
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	1,262
Accumulated depreciation	35
Burger King I, Austintown, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	470
Initial cost, buildings and improvements	943
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,413
Accumulated depreciation	38
Burger King I, Beavercreek, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	752
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,122
Accumulated depreciation	30
Burger King I, Celina, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	890
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,250
Accumulated depreciation	35
Burger King I, Chesterland, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,030
Accumulated depreciation	28
Burger King I, Columbiana, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,015
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,475
Accumulated depreciation	40
Burger King I, Cortland, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	760
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,130
Accumulated depreciation	31
Burger King I, Fairborn, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,148
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,588
Accumulated depreciation	45
Burger King I, Girard, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	530
Initial cost, buildings and improvements	1,186
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,716
Accumulated depreciation	47
Burger King I, Grayslake, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
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	32
Burger King I, Greenville, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,001
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,401
Accumulated depreciation	39
Burger King I, Gurnee, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,437
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,007
Accumulated depreciation	57
Burger King I, Madison, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	95
Initial cost, buildings and improvements	0
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	95
Accumulated depreciation	0
Burger King I, McHenry, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	870
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,200
Accumulated depreciation	34
Burger King I, Mentor, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	684
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	994
Accumulated depreciation	27
Burger King I, Niles, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	480
Initial cost, buildings and improvements	1,061
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,541
Accumulated depreciation	42
Burger King I, North Fayette, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,306
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,906
Accumulated depreciation	52
Burger King I, North Royalton, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,235
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,675
Accumulated depreciation	49
Burger King I, North Versailles, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	700
Initial cost, buildings and improvements	1,567
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,267
Accumulated depreciation	62
Burger King I, Poland, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
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	1,082
Accumulated depreciation	29
Burger King I, Ravenna, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,084
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,584
Accumulated depreciation	43
Burger King I, Round Lake Beach, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	730
Initial cost, buildings and improvements	1,770
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,500
Accumulated depreciation	70
Burger King I, Salem, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	550
Initial cost, buildings and improvements	1,247
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,797
Accumulated depreciation	49
Burger King I, Trotwood, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
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	1,212
Accumulated depreciation	35
Burger King I, Twinsburg, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	911
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,331
Accumulated depreciation	36
Burger King I, Waukegan, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	926
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,306
Accumulated depreciation	37
Burger King I, Youngstown, OH 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	450
Initial cost, buildings and improvements	1,215
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,665
Accumulated depreciation	48
Burger King I, Youngstown, OH 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,220
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,790
Accumulated depreciation	49
Burger King I, Youngstown, OH 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,311
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,881
Accumulated depreciation	52
Burger King I, Youngstown, OH 4
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	854
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,224
Accumulated depreciation	34
Dollar General XIV, Fort Smith, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
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	1,081
Accumulated depreciation	31
Dollar General XIV, Hot Springs, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	780
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,080
Accumulated depreciation	31
Dollar General XIV, Royal, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	614
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	864
Accumulated depreciation	24
Dollar General XV, Wilson, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	758
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,048
Accumulated depreciation	30
Mattress Firm I, McDonough, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,013
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,403
Accumulated depreciation	40
Dollar General XVI, LaFollette, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	571
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	791
Accumulated depreciation	22
Family Dollar V, Carrollton, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	542
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	802
Accumulated depreciation	22
Family Dollar VI, Walden, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	590
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	810
Accumulated depreciation	21
Mattress Firm III, Valdosta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	1,121
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,541
Accumulated depreciation	44
Arby's II, Virginia, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	767
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,087
Accumulated depreciation	30
SAAB Sensis I, Syracuse, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,970
Initial cost, buildings and improvements	6,874
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,844
Accumulated depreciation	296
Citizens Bank I, Doylestown, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	1,332
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,852
Accumulated depreciation	52
Citizens Bank I, Lansdale, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	1,006
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,426
Accumulated depreciation	40
Citizens Bank I, Lima, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	710
Initial cost, buildings and improvements	1,791
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,501
Accumulated depreciation	70
Citizens Bank I, Philadelphia, PA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	450
Initial cost, buildings and improvements	1,145
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,595
Accumulated depreciation	45
Citizens Bank I, Philadelphia, PA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	660
Initial cost, buildings and improvements	1,603
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,263
Accumulated depreciation	63
Citizens Bank I, Philadelphia, PA 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	710
Initial cost, buildings and improvements	1,955
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,665
Accumulated depreciation	76
Citizens Bank I, Philadelphia, PA 4
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	630
Initial cost, buildings and improvements	1,954
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,584
Accumulated depreciation	75
Citizens Bank I, Richboro, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
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	1,500
Accumulated depreciation	42
Citizens Bank I, Wayne, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,030
Initial cost, buildings and improvements	2,920
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,950
Accumulated depreciation	113
Truist Bank II, Bushnell, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	802
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,122
Accumulated depreciation	32
Truist Bank II, Chattanooga, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	754
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,054
Accumulated depreciation	30
Truist Bank II, Douglasville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,029
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,429
Accumulated depreciation	40
Truist Bank II, Duluth, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	800
Initial cost, buildings and improvements	1,930
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,730
Accumulated depreciation	76
Truist Bank II, East Ridge, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	626
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	856
Accumulated depreciation	25
Truist Bank II, Mauldin, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,201
Accumulated depreciation	35
Truist Bank II, Okeechobee, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,274
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,734
Accumulated depreciation	50
Truist Bank II, Panama City, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	450
Initial cost, buildings and improvements	1,243
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,693
Accumulated depreciation	49
Mattress Firm IV, Meridian, ID
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,323
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,823
Accumulated depreciation	52
Dollar General XII, Sunrise Beach, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
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	906
Accumulated depreciation	25
FedEx Ground IV, Council Bluffs, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,430
Initial cost, buildings and improvements	3,378
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,808
Accumulated depreciation	147
Mattress Firm V, Florence, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	350
Initial cost, buildings and improvements	937
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,287
Accumulated depreciation	37
Mattress Firm I, Aiken, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,031
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,421
Accumulated depreciation	40
Aaron's I, Erie, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	570
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	810
Accumulated depreciation	22
AutoZone III, Caro, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	648
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	928
Accumulated depreciation	26
Advance Auto III, Taunton, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	991
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,381
Accumulated depreciation	39
Family Dollar VIII, Dexter, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	732
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,032
Accumulated depreciation	29
Family Dollar VIII, Hale Center, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	600
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	860
Accumulated depreciation	24
Family Dollar VIII, Plains, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	652
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	932
Accumulated depreciation	26
Dollar General XVII, Tullos, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	932
Accumulated depreciation	27
Truist Bank III, Athens, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	784
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,084
Accumulated depreciation	31
Truist Bank III, Avondale, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	550
Initial cost, buildings and improvements	1,490
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,040
Accumulated depreciation	58
Truist Bank IV, Chamblee, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,276
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,766
Accumulated depreciation	50
Truist Bank III, Chattanooga, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	951
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,351
Accumulated depreciation	37
First Horizon Bank, Collinsville, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	179
Initial cost, buildings and improvements	509
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	688
Accumulated depreciation	20
Truist Bank IV, Columbus, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,408
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,978
Accumulated depreciation	55
Truist Bank III, Conyers, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,324
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,824
Accumulated depreciation	52
Truist Bank IV, Creedmoor, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	100
Initial cost, buildings and improvements	296
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	396
Accumulated depreciation	11
Truist Bank III, Daytona Beach, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	1,390
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,910
Accumulated depreciation	54
First Horizon Bank, Durham, NC 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	484
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	674
Accumulated depreciation	19
First Horizon Bank, Durham, NC 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	857
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,197
Accumulated depreciation	34
Truist Bank III, Gainesville, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,081
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,481
Accumulated depreciation	42
Truist Bank III, Greenville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	621
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	841
Accumulated depreciation	24
Truist Bank III, Gulf Breeze, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,180
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,610
Accumulated depreciation	46
Truist Bank III, Inverness, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	1,484
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,004
Accumulated depreciation	58
Truist Bank III, Lithonia, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	808
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,088
Accumulated depreciation	32
Truist Bank III, Macon, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
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	946
Accumulated depreciation	27
Truist Bank IV, Madison, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,016
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,416
Accumulated depreciation	40
Truist Bank III, Mebane, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,164
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,564
Accumulated depreciation	45
Truist Bank III, Melbourne, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	580
Initial cost, buildings and improvements	1,511
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,091
Accumulated depreciation	59
Truist Bank III, Morristown, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	150
Initial cost, buildings and improvements	364
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	514
Accumulated depreciation	14
Truist Bank III, Mount Dora, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,570
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,140
Accumulated depreciation	61
Truist Bank III, Murfreesboro, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	791
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,131
Accumulated depreciation	31
Truist Bank IV, Ocala, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	620
Initial cost, buildings and improvements	1,493
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,113
Accumulated depreciation	59
Truist Bank III, Ocala, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,006
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,406
Accumulated depreciation	40
First Horizon Bank, Onancock, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,274
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,784
Accumulated depreciation	50
Truist Bank III, Orlando, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	1,459
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,999
Accumulated depreciation	57
Truist Bank III, Ormond Beach, FL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,706
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,386
Accumulated depreciation	67
Truist Bank III, Ormond Beach, FL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,571
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,141
Accumulated depreciation	61
Truist Bank III, Ormond Beach, FL 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,322
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,832
Accumulated depreciation	52
First Horizon Bank, Pittsboro, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	423
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	603
Accumulated depreciation	17
Truist Bank III, Pompano Beach, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	700
Initial cost, buildings and improvements	1,816
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,516
Accumulated depreciation	71
Truist Bank IV, Prince Frederick, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	670
Initial cost, buildings and improvements	1,853
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,523
Accumulated depreciation	72
Truist Bank III, Richmond, VA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,386
Initial cost, buildings and improvements	4,614
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,000
Accumulated depreciation	217
Truist Bank III, Richmond, VA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	400
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	560
Accumulated depreciation	16
Truist Bank III, Roanoke, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	650
Initial cost, buildings and improvements	1,789
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,439
Accumulated depreciation	70
Truist Bank III, Savannah, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	799
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,119
Accumulated depreciation	31
Truist Bank III, Signal Mountain, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	579
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	799
Accumulated depreciation	23
Truist Bank III, Soddy Daisy, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	605
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	845
Accumulated depreciation	24
Truist Bank IV, Spring Hill, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	590
Initial cost, buildings and improvements	1,515
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,105
Accumulated depreciation	59
Truist Bank III, St. Petersburg, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,322
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,832
Accumulated depreciation	52
Truist Bank III, Stockbridge, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,002
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,392
Accumulated depreciation	39
Truist Bank III, Stone Mountain, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,151
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,591
Accumulated depreciation	45
First Horizon Bank, Stuart, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,209
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,639
Accumulated depreciation	47
Truist Bank III, Sylvester, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	620
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	890
Accumulated depreciation	25
Truist Bank III, Union City, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
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	795
Accumulated depreciation	23
First Horizon Bank, Winston-Salem, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	693
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	943
Accumulated depreciation	27
First Horizon Bank, Yadkinville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,007
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,407
Accumulated depreciation	40
Dollar General XVIII, Deville, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	645
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	895
Accumulated depreciation	25
Mattress Firm I, Holland, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,035
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,435
Accumulated depreciation	40
Dollar General XVII, Hornbeck, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	672
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	932
Accumulated depreciation	26
Family Dollar IX, Fannettsburg, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	1,148
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	58
Real estate, gross	1,516
Accumulated depreciation	45
Mattress Firm I, Saginaw, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
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	1,374
Accumulated depreciation	39
Bi-Lo I, Greenville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	810
Initial cost, buildings and improvements	2,082
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,892
Accumulated depreciation	84
Stop & Shop I, Cumberland, RI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,900
Initial cost, buildings and improvements	13,402
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,302
Accumulated depreciation	517
Stop & Shop I, Sicklerville, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,010
Initial cost, buildings and improvements	9,891
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,901
Accumulated depreciation	382
Stop & Shop I, Southington, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,550
Initial cost, buildings and improvements	12,896
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,446
Accumulated depreciation	496
Dollar General XVII, Forest Hill, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
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	856
Accumulated depreciation	24
Dollar General XIX, Chelsea, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,122
Accumulated depreciation	32
Dollar General XX, Brookhaven, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	582
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	812
Accumulated depreciation	23
Dollar General XX, Columbus, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	605
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	905
Accumulated depreciation	24
Dollar General XX, Forest, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	685
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	935
Accumulated depreciation	27
Dollar General XX, Rolling Fork, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	856
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,166
Accumulated depreciation	33
Dollar General XX, West Point, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	611
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	871
Accumulated depreciation	24
Dollar General XXI, Huntington, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	921
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,281
Accumulated depreciation	36
Dollar General XXII, Warren, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,047
Accumulated depreciation	29
FedEx Ground V, Sioux City, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,460
Initial cost, buildings and improvements	3,873
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,333
Accumulated depreciation	164
FedEx Ground VII, Eagle River, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,660
Initial cost, buildings and improvements	4,277
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,937
Accumulated depreciation	181
FedEx Ground VI, Grand Forks, ND
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,340
Initial cost, buildings and improvements	6,146
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,486
Accumulated depreciation	261
FedEx Ground VIII, Mosinee, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,230
Initial cost, buildings and improvements	5,942
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,172
Accumulated depreciation	251
Anderson Station, Anderson, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,080
Initial cost, buildings and improvements	10,847
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	6
Real estate, gross	13,933
Accumulated depreciation	473
Riverbend Marketplace, Asheville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,672
Initial cost, buildings and improvements	10,339
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,011
Accumulated depreciation	458
Northlake Commons, Charlotte, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	8,744
Initial cost, buildings and improvements	15,870
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,614
Accumulated depreciation	667
Shops at Rivergate South, Charlotte, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,889
Initial cost, buildings and improvements	18,120
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	25,009
Accumulated depreciation	726
Cross Pointe Centre, Fayetteville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,578
Initial cost, buildings and improvements	12,377
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	461
Real estate, gross	19,416
Accumulated depreciation	493
Parkside Shopping Center, Frankfort, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,640
Initial cost, buildings and improvements	10,427
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,067
Accumulated depreciation	531
Patton Creek, Hoover, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	18,964
Initial cost, buildings and improvements	40,775
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	59,739
Accumulated depreciation	1,786
Southway Shopping Center, Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,262
Initial cost, buildings and improvements	7,417
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,679
Accumulated depreciation	358
Northpark Center, Huber Heights, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	10,952
Initial cost, buildings and improvements	15,460
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	26,412
Accumulated depreciation	693
Tiffany Springs MarketCenter, Kansas City, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,967
Initial cost, buildings and improvements	28,936
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	34,903
Accumulated depreciation	1,269
North Lakeland Plaza, Lakeland, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,904
Initial cost, buildings and improvements	8,113
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2
Real estate, gross	12,019
Accumulated depreciation	330
Best on the Boulevard, Las Vegas, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,548
Initial cost, buildings and improvements	16,387
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	22,935
Accumulated depreciation	674
Montecito Crossing, Las Vegas, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,941
Initial cost, buildings and improvements	21,357
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	26,298
Accumulated depreciation	958
Pine Ridge Plaza, Lawrence, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,311
Initial cost, buildings and improvements	12,762
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	18,073
Accumulated depreciation	615
Jefferson Commons, Louisville, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,129
Initial cost, buildings and improvements	17,998
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,127
Accumulated depreciation	783
Towne Centre Plaza, Mesquite, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,935
Initial cost, buildings and improvements	4,999
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,934
Accumulated depreciation	220
Township Marketplace, Monaca, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,183
Initial cost, buildings and improvements	24,697
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	49
Real estate, gross	29,929
Accumulated depreciation	1,066
Northwoods Marketplace, North Charleston, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	7,341
Initial cost, buildings and improvements	11,862
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,203
Accumulated depreciation	571
Centennial Plaza, Oklahoma City, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,741
Initial cost, buildings and improvements	12,436
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,177
Accumulated depreciation	543
Village at Quail Springs, Oklahoma City, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,738
Initial cost, buildings and improvements	4,885
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,623
Accumulated depreciation	220
Colonial Landing, Orlando, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	22,734
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	22,734
Accumulated depreciation	928
The Centrum, Pineville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	7,995
Initial cost, buildings and improvements	17,984
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	25,979
Accumulated depreciation	857
Liberty Crossing, Rowlett, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,334
Initial cost, buildings and improvements	9,575
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,909
Accumulated depreciation	413
San Pedro Crossing, San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	9,030
Initial cost, buildings and improvements	25,428
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	34,458
Accumulated depreciation	924
Prairie Towne Center, Schaumburg, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,162
Initial cost, buildings and improvements	10,318
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,480
Accumulated depreciation	454
Shops at Shelby Crossing, Sebring, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,694
Initial cost, buildings and improvements	20,596
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	25,290
Accumulated depreciation	923
Bison Hollow, Traverse City, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,964
Initial cost, buildings and improvements	12,754
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,718
Accumulated depreciation	550
Southroads Shopping Center, Tulsa, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	7,440
Initial cost, buildings and improvements	61,472
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	(34)
Real estate, gross	68,878
Accumulated depreciation	2,341
The Streets of West Chester, West Chester, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	8,686
Initial cost, buildings and improvements	15,567
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,253
Accumulated depreciation	692
Shoppes of West Melbourne, West Melbourne, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,064
Initial cost, buildings and improvements	12,092
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,156
Accumulated depreciation	453
Shoppes at Wyomissing, Wyomissing, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	7,427
Initial cost, buildings and improvements	20,911
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	28,338
Accumulated depreciation	840
Dollar General XXIII, Dewitt, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
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	1,056
Accumulated depreciation	29
Dollar General XXIII, Farmington, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	863
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,173
Accumulated depreciation	34
Dollar General XXIII, Geddes, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	688
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	978
Accumulated depreciation	27
Dollar General XXIII, Otego, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	784
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,104
Accumulated depreciation	31
Dollar General XXIII, Parish, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	713
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,033
Accumulated depreciation	28
Dollar General XXIII, Utica, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	741
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,051
Accumulated depreciation	29
Jo-Ann Fabrics I, Freeport, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,287
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,797
Accumulated depreciation	50
FedEx Ground IX, Brainerd, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,100
Initial cost, buildings and improvements	2,581
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,681
Accumulated depreciation	111
Chili's II, McHenry, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	920
Initial cost, buildings and improvements	2,317
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,237
Accumulated depreciation	91
Dollar General XXIII, Kingston, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	908
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,238
Accumulated depreciation	36
Sonic Drive In I, Robertsdale, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
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	1,181
Accumulated depreciation	33
Sonic Drive In I, Tuscaloosa, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	630
Initial cost, buildings and improvements	1,570
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,200
Accumulated depreciation	62
Bridgestone HOSEpower I, Columbia, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,436
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,036
Accumulated depreciation	57
Bridgestone HOSEpower I, Elko, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	1,290
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,830
Accumulated depreciation	51
Dollar General XXIII, Kerhonkson, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	707
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	997
Accumulated depreciation	28
Bridgestone HOSEpower II, Jacksonville, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,268
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,838
Accumulated depreciation	50
FedEx Ground X, Rolla, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,420
Initial cost, buildings and improvements	5,900
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,320
Accumulated depreciation	254
Chili's III, Machesney Park, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,110
Initial cost, buildings and improvements	2,853
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,963
Accumulated depreciation	111
FedEx Ground XI, Casper, WY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	970
Initial cost, buildings and improvements	2,231
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,201
Accumulated depreciation	96
Tractor Supply IV, Flandreau, SD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	1,005
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,375
Accumulated depreciation	40
Tractor Supply IV, Hazen, ND
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	470
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	1,869
Accumulated depreciation	55
Circle K II, Harlingen, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
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	886
Accumulated depreciation	29
Circle K II, Laredo, TX 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	1,038
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,358
Accumulated depreciation	44
Circle K II, Laredo, TX 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	1,000
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,300
Accumulated depreciation	42
Circle K II, Laredo, TX 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	110
Initial cost, buildings and improvements	324
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	434
Accumulated depreciation	14
Circle K II, Rio Grande, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
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	1,187
Accumulated depreciation	38
Circle K II, Weslaco, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	808
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,058
Accumulated depreciation	34
Sonic Drive In II, Biloxi, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	770
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,060
Accumulated depreciation	30
Sonic Drive In II, Collins, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
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	1,300
Accumulated depreciation	37
Sonic Drive In II, Ellisville, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,020
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,410
Accumulated depreciation	40
Sonic Drive In II, Gulfport, MS 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	754
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,074
Accumulated depreciation	30
Sonic Drive In II, Gulfport, MS 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	647
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	887
Accumulated depreciation	25
Sonic Drive In II, Gulfport, MS 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	734
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,014
Accumulated depreciation	29
Sonic Drive In II, Hattiesburg, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	847
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,177
Accumulated depreciation	33
Sonic Drive In II, Lithia, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	628
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	868
Accumulated depreciation	25
Sonic Drive In II, Long Beach, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	783
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,093
Accumulated depreciation	31
Sonic Drive In II, Magee, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	788
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,078
Accumulated depreciation	31
Sonic Drive In II, Petal, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	350
Initial cost, buildings and improvements	845
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,195
Accumulated depreciation	33
Sonic Drive In II, Plant City, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	586
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	816
Accumulated depreciation	23
Sonic Drive In II, Purvis, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	760
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,060
Accumulated depreciation	30
Sonic Drive In II, Riverview, FL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
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	804
Accumulated depreciation	23
Sonic Drive In II, Riverview, FL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
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	1,112
Accumulated depreciation	31
Sonic Drive In II, Tylertown, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	1,007
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,427
Accumulated depreciation	40
Sonic Drive In II, Wauchula, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	413
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	573
Accumulated depreciation	16
Sonic Drive In II, Waveland, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
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	951
Accumulated depreciation	27
Sonic Drive In II, Waynesboro, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	526
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	736
Accumulated depreciation	21
Sonic Drive In II, Woodville, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
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	1,384
Accumulated depreciation	39
Bridgestone HOSEpower III, Sulphur, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	780
Initial cost, buildings and improvements	1,930
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,710
Accumulated depreciation	76
Sonny's BBQ I, Tallahassee, FL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	610
Initial cost, buildings and improvements	1,719
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,329
Accumulated depreciation	67
Sonny's BBQ I, Tallahassee, FL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	690
Initial cost, buildings and improvements	1,794
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,484
Accumulated depreciation	70
Sonny's BBQ I, Tallahassee, FL 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	850
Initial cost, buildings and improvements	2,247
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,097
Accumulated depreciation	88
Mountain Express I, Baldwin, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	784
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,024
Accumulated depreciation	33
Mountain Express I, Buford, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	1,039
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,349
Accumulated depreciation	44
Mountain Express I, Canton, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	908
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,198
Accumulated depreciation	39
Mountain Express I, Chatsworth, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	912
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,192
Accumulated depreciation	38
Mountain Express I, Douglasville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	889
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,169
Accumulated depreciation	38
Mountain Express I, Jasper, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,333
Accumulated depreciation	43
Mountain Express I, Summerville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	645
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	855
Accumulated depreciation	27
Mountain Express I, Trion, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	740
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	970
Accumulated depreciation	31
Mountain Express I, Woodstock, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	694
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	914
Accumulated depreciation	29
Kum & Go I, Omaha, NE
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	650
Initial cost, buildings and improvements	1,640
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,290
Accumulated depreciation	64
DaVita I, Bolivar, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	475
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	665
Accumulated depreciation	19
DaVita I, Brownviille, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
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	1,153
Accumulated depreciation	32
White Oak I, Casey, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	60
Initial cost, buildings and improvements	125
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	185
Accumulated depreciation	0
White Oak I, Hospers, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	76
Initial cost, buildings and improvements	160
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	236
Accumulated depreciation	0
White Oak I, Jefferson, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	100
Initial cost, buildings and improvements	208
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	308
Accumulated depreciation	0
White Oak I, Muscatine, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	153
Initial cost, buildings and improvements	320
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	473
Accumulated depreciation	0
White Oak I, Nevada, IA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	49
Initial cost, buildings and improvements	98
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	147
Accumulated depreciation	0
White Oak I, Nevada, IA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	117
Initial cost, buildings and improvements	229
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	346
Accumulated depreciation	0
White Oak I, Omaha, NE 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	106
Initial cost, buildings and improvements	204
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	310
Accumulated depreciation	0
White Oak I, Omaha, NE 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	137
Initial cost, buildings and improvements	269
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	406
Accumulated depreciation	0
White Oak I, Wapello, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	120
Initial cost, buildings and improvements	231
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	351
Accumulated depreciation	0
Mountain Express II, Arley, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	528
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	688
Accumulated depreciation	22
Mountain Express II, Cullman, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	856
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,116
Accumulated depreciation	36
Mountain Express II, Eva, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	531
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	691
Accumulated depreciation	22
Mountain Express II, Good Hope, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	927
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,197
Accumulated depreciation	39
Mountain Express II, Huntsville, AL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	1,087
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,427
Accumulated depreciation	45
Mountain Express II, Huntsville, AL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,624
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,124
Accumulated depreciation	68
Mountain Express II, Huntsville, AL 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	1,118
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,478
Accumulated depreciation	47
Mountain Express II, Oneonta, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	1,059
Accumulated depreciation	34
Mountain Express II, Owens Cross, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	999
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,329
Accumulated depreciation	43
Mountain Express II, Pine Campbell, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	529
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	689
Accumulated depreciation	22
Mountain Express II, Red Bay, AL 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	706
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	926
Accumulated depreciation	30
Mountain Express II, Red Bay, AL 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	110
Initial cost, buildings and improvements	322
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	432
Accumulated depreciation	14
Mountain Express II, Russellville, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	489
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	649
Accumulated depreciation	21
Mountain Express II, Vina, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	130
Initial cost, buildings and improvements	421
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	551
Accumulated depreciation	18
Dialysis I, Grand Rapids, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	560
Initial cost, buildings and improvements	1,342
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,902
Accumulated depreciation	53
Dialysis I, Michigan City, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,458
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,028
Accumulated depreciation	57
Dialysis I, Benton Harbor, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,160
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,590
Accumulated depreciation	45
Dialysis I, East Knoxville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	530
Initial cost, buildings and improvements	1,419
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,949
Accumulated depreciation	56
Children of America I, New Britian, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	0
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	0
Accumulated depreciation	0
Children of America I, Warminster, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	0
Initial cost, buildings and improvements	0
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	0
Accumulated depreciation	0
Burger King II, Pineville, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,284
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,784
Accumulated depreciation	50
White Oak II, Council Bluffs, IA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	66
Initial cost, buildings and improvements	138
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	204
Accumulated depreciation	0
White Oak II, Council Bluffs, IA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	66
Initial cost, buildings and improvements	124
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	190
Accumulated depreciation	0
White Oak II, Glenwood, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	37
Initial cost, buildings and improvements	65
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	102
Accumulated depreciation	0
White Oak II, Missouri Valley, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	39
Initial cost, buildings and improvements	77
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	116
Accumulated depreciation	0
White Oak II, Red Oak, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	52
Initial cost, buildings and improvements	124
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	176
Accumulated depreciation	0
White Oak II, Sioux Center, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	36
Initial cost, buildings and improvements	67
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	103
Accumulated depreciation	0
White Oak II, Sioux City, IA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	40
Initial cost, buildings and improvements	73
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	113
Accumulated depreciation	0
White Oak II, Sioux City, IA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	47
Initial cost, buildings and improvements	88
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	135
Accumulated depreciation	0
White Oak II, Sioux City, IA 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	59
Initial cost, buildings and improvements	109
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	168
Accumulated depreciation	0
Taco John's, Chanute, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
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	865
Accumulated depreciation	23
Mountain Express III, Canton, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,288
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,678
Accumulated depreciation	54
Mountain Express III, Clinton, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	890
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,170
Accumulated depreciation	38
Mountain Express III, Cornelia, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	595
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	785
Accumulated depreciation	25
Mountain Express III, Cumming, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	828
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,088
Accumulated depreciation	35
Mountain Express III, Ellijay, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,205
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,585
Accumulated depreciation	51
Mountain Express III, Hogansville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
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	846
Accumulated depreciation	27
Mountain Express III, Homer, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	641
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	831
Accumulated depreciation	27
Mountain Express III, McCaysville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	574
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	754
Accumulated depreciation	24
Mountain Express III, Nettleton, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	150
Initial cost, buildings and improvements	445
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	595
Accumulated depreciation	19
Mountain Express III, Riverdale, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,554
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,044
Accumulated depreciation	65
Mountain Express III, Toccoa, GA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	532
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	702
Accumulated depreciation	22
Mountain Express III, Toccoa, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	613
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	803
Accumulated depreciation	26
Mountain Express III, Woodstock, GA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	1,377
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,797
Accumulated depreciation	58
Mountain Express III, Woodstock, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	550
Initial cost, buildings and improvements	1,823
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,373
Accumulated depreciation	76
Taco John's, Carroll, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	690
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	930
Accumulated depreciation	25
Taco John's, Cherokee, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	433
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	593
Accumulated depreciation	15
Taco John's, Independence, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
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	1,283
Accumulated depreciation	34
Taco John's, St. Peter, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	545
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	765
Accumulated depreciation	21
White Oak III, Bonham, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	650
Initial cost, buildings and improvements	1,456
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,106
Accumulated depreciation	59
DaVita II, Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,537
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,137
Accumulated depreciation	60
Pizza Hut I, Columbus, OH 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	867
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,207
Accumulated depreciation	34
Pizza Hut I, Columbus, OH 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	456
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	646
Accumulated depreciation	18
Pizza Hut I, Gastonia, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	932
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,312
Accumulated depreciation	37
Pizza Hut I, Newton, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	598
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	828
Accumulated depreciation	23
Pizza Hut I, Zaneville, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	605
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	845
Accumulated depreciation	24
Little Caesars I, Burton, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,098
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,538
Accumulated depreciation	43
Little Caesars I, Burton, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	693
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	953
Accumulated depreciation	27
Little Caesars I, Durand, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	386
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	546
Accumulated depreciation	15
Little Caesars I, Flint, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	493
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	713
Accumulated depreciation	19
Little Caesars I, Flint, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	603
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	833
Accumulated depreciation	24
Little Caesars I, Flint, MI 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	496
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	696
Accumulated depreciation	19
Little Caesars I, Flint, MI 4
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	538
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	768
Accumulated depreciation	21
Little Caesars I, Flint, MI 5
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	582
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	832
Accumulated depreciation	23
Little Caesars I, Flint, MI 6
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	559
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	819
Accumulated depreciation	22
Little Caesars I, Flint, MI 7
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	699
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	989
Accumulated depreciation	27
Little Caesars I, Swartz Creek, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	493
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	703
Accumulated depreciation	19
Tractor Supply V, Americus, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	700
Initial cost, buildings and improvements	2,071
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,771
Accumulated depreciation	81
Tractor Supply V, Cadiz, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,863
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,463
Accumulated depreciation	73
Tractor Supply V, Catalina, AZ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	970
Initial cost, buildings and improvements	2,958
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,928
Accumulated depreciation	115
Tractor Supply V, Sorocco, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	2,098
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,778
Accumulated depreciation	82
Caliber Collision I, Fayetteville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	470
Initial cost, buildings and improvements	1,170
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,640
Accumulated depreciation	46
Caliber Collision I, Lutz, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,390
Initial cost, buildings and improvements	3,496
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,886
Accumulated depreciation	138
Caliber Collision I, Nolansville, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	993
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,383
Accumulated depreciation	39
Fresenius III, Cumming, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	764
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,084
Accumulated depreciation	30
Fresenius III, Enterprise, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	760
Initial cost, buildings and improvements	2,009
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,769
Accumulated depreciation	79
Pizza Hut II, Cherokee, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	150
Initial cost, buildings and improvements	389
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	539
Accumulated depreciation	15
Pizza Hut II, Dillion, MT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	560
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	790
Accumulated depreciation	22
Pizza Hut II, Hennessey, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	571
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	771
Accumulated depreciation	22
Pizza Hut II, Hugoton, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
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	989
Accumulated depreciation	28
Pizza Hut II, Liberal, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	710
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	910
Accumulated depreciation	27
Pizza Hut II, Meade, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	502
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	702
Accumulated depreciation	20
Pizza Hut II, Newcastle, WY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	573
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	763
Accumulated depreciation	22
Pizza Hut II, Polson, MT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	799
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,159
Accumulated depreciation	32
Pizza Hut II, Roosevelt, UT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
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	1,102
Accumulated depreciation	32
Pizza Hut II, Shattuck, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	423
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	583
Accumulated depreciation	17
Pizza Hut II, Watonga, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	693
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	993
Accumulated depreciation	27
Mountain Express IV, Cabot, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	547
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	737
Accumulated depreciation	24
Mountain Express IV, Corning, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
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	809
Accumulated depreciation	26
Mountain Express IV, El Dorado, AR 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
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	1,109
Accumulated depreciation	36
Mountain Express IV, El Dorado, AR 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	150
Initial cost, buildings and improvements	475
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	625
Accumulated depreciation	20
Mountain Express IV, El Dorado, AR 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,494
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,934
Accumulated depreciation	63
Mountain Express IV, Fordyce, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	350
Initial cost, buildings and improvements	1,127
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,477
Accumulated depreciation	47
Mountain Express IV, Hope, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	873
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,143
Accumulated depreciation	37
Mountain Express IV, Searcy, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	996
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,316
Accumulated depreciation	42
Mountain Express V, Buford, GA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,210
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,610
Accumulated depreciation	51
Mountain Express V, Buford, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,190
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,570
Accumulated depreciation	50
Mountain Express V, Canton, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	1,165
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,535
Accumulated depreciation	49
Mountain Express V, Conyers, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,389
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,829
Accumulated depreciation	58
Mountain Express V, Dahlonega, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	929
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,219
Accumulated depreciation	39
Mountain Express V, Elberton, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	350
Initial cost, buildings and improvements	1,173
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,523
Accumulated depreciation	49
Mountain Express V, Forest Park, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,200
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,580
Accumulated depreciation	50
Mountain Express V, Jonesboro, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,431
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,821
Accumulated depreciation	59
Mountain Express V, Lithia Springs, GA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
Initial cost, buildings and improvements	1,182
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,542
Accumulated depreciation	49
Mountain Express V, Lithia Springs, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,255
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,635
Accumulated depreciation	52
Mountain Express V, Loganville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	1,350
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,790
Accumulated depreciation	57
Mountain Express V, Macon, GA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	831
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,081
Accumulated depreciation	34
Mountain Express V, Stockbridge, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,193
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,573
Accumulated depreciation	50
Fresenius IV, Alexandria, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	740
Initial cost, buildings and improvements	1,837
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,577
Accumulated depreciation	72
Mountain Express V, Forest Park, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,267
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,647
Accumulated depreciation	53
Tractor Supply V, New Cordell, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	580
Initial cost, buildings and improvements	1,759
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,339
Accumulated depreciation	69
Mountain Express V, Macon, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	1,125
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,465
Accumulated depreciation	47
Mountain Express V, Norcross, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	620
Initial cost, buildings and improvements	1,800
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,420
Accumulated depreciation	77
Mountain Express V, Snellville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	707
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	927
Accumulated depreciation	29
Mountain Express V, Covington, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	450
Initial cost, buildings and improvements	1,392
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,842
Accumulated depreciation	59
IMTAA, Baton Rouge, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	1,071
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,611
Accumulated depreciation	44
IMTAA, Bridge City, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	620
Initial cost, buildings and improvements	1,214
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,834
Accumulated depreciation	50
IMTAA, Gonzales, LA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	580
Initial cost, buildings and improvements	1,085
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,665
Accumulated depreciation	45
IMTAA, Gonzales, LA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	590
Initial cost, buildings and improvements	1,075
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,665
Accumulated depreciation	45
IMTAA, Kenner, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	950
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,440
Accumulated depreciation	39
IMTAA, Lake Charles, LA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	1,037
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,577
Accumulated depreciation	43
IMTAA, Lake Charles, LA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	480
Initial cost, buildings and improvements	964
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,444
Accumulated depreciation	40
IMTAA, Lake Charles, LA 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	480
Initial cost, buildings and improvements	969
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,449
Accumulated depreciation	40
IMTAA, Lake Charles, LA 4
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
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	1,620
Accumulated depreciation	45
IMTAA, Orange, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	610
Initial cost, buildings and improvements	1,095
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,705
Accumulated depreciation	46
IMTAA, St. Rose, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	889
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,319
Accumulated depreciation	37
Pizza Hut III, Garden City, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	514
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	724
Accumulated depreciation	20
Pizza Hut III, Missoula, MT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	729
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,049
Accumulated depreciation	29
Pizza Hut III, Sterling, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	652
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	932
Accumulated depreciation	26
Fresenius V, Brookhaven, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,106
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,606
Accumulated depreciation	44
Fresenius V, Centreville, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	458
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	648
Accumulated depreciation	18
Fresenius VI, Chicago, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,048
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,478
Accumulated depreciation	41
Mountain Express VI, Smackover, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,366
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,766
Accumulated depreciation	57
Fresenius VII, Athens, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,320
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	4,442
Accumulated depreciation	125
Fresenius VII, Idabel, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	610
Initial cost, buildings and improvements	1,734
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,344
Accumulated depreciation	67
Fresenius VII, Tyler, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,191
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,681
Accumulated depreciation	48
Caliber Collision II, Pueblo, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,747
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,427
Accumulated depreciation	69
Dollar General XXV, Brownsville, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	662
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	932
Accumulated depreciation	26
Dollar General XXV, Custer, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	522
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	722
Accumulated depreciation	21
Dollar General XXV, Elkton, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	448
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	708
Accumulated depreciation	18
Dollar General XXV, Falls of Rough, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	484
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	714
Accumulated depreciation	19
Dollar General XXV, Sedalia, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	551
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	771
Accumulated depreciation	22
Dollar General XXIV, Clarksville, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	733
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,023
Accumulated depreciation	29
Dollar General XXIV, Lincoln, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,107
Accumulated depreciation	31
Dollar General XXIV, Tabor, IA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	702
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,012
Accumulated depreciation	28
Dollar General XXIV, Assumption, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
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	1,021
Accumulated depreciation	28
Dollar General XXIV, Curtis, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	732
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,032
Accumulated depreciation	29
Dollar General XXIV, Harrisville, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	838
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,178
Accumulated depreciation	33
Dollar General XXIV, Mora, MN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
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	1,166
Accumulated depreciation	32
Dollar General XXIV, Washburn, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	678
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	968
Accumulated depreciation	27
DaVita III, El Paso, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	760
Initial cost, buildings and improvements	1,816
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,576
Accumulated depreciation	72
Dialysis II, Baltimore, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	440
Initial cost, buildings and improvements	962
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,402
Accumulated depreciation	38
Dialysis II, Brunswick, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	720
Initial cost, buildings and improvements	1,847
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,567
Accumulated depreciation	72
Dialysis II, Burgaw, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	350
Initial cost, buildings and improvements	863
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,213
Accumulated depreciation	34
Dialysis II, Detroit, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	630
Initial cost, buildings and improvements	1,580
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,210
Accumulated depreciation	62
Dialysis II, Elizabethtown, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	1,396
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,936
Accumulated depreciation	55
Dialysis II, Goose Creek, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,305
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,815
Accumulated depreciation	51
Dialysis II, Greenville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	530
Initial cost, buildings and improvements	1,310
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,840
Accumulated depreciation	52
Dialysis II, Jackson, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	814
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,154
Accumulated depreciation	32
Dialysis II, Kyle, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	690
Initial cost, buildings and improvements	1,630
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,320
Accumulated depreciation	65
Dialysis II, Las Vegas, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,230
Initial cost, buildings and improvements	3,227
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,457
Accumulated depreciation	126
Dialysis II, Lexington, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	795
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,115
Accumulated depreciation	31
Dialysis II, Merrillville, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	480
Initial cost, buildings and improvements	1,120
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,600
Accumulated depreciation	44
Dialysis II, New Orleans, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,122
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,612
Accumulated depreciation	44
Dialysis II, North Charleston, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	510
Initial cost, buildings and improvements	1,323
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,833
Accumulated depreciation	52
Dialysis II, Parma, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	400
Initial cost, buildings and improvements	1,013
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,413
Accumulated depreciation	47
Dialysis II, Rocky River, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,476
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,046
Accumulated depreciation	58
Dialysis II, Seguin, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,273
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,763
Accumulated depreciation	50
Dialysis II, Shallotte, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	350
Initial cost, buildings and improvements	870
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,220
Accumulated depreciation	34
Dialysis II, Spartanburg, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	843
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,223
Accumulated depreciation	34
Dialysis II, Albuquerque, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	730
Initial cost, buildings and improvements	1,481
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,211
Accumulated depreciation	55
Dialysis II, Anchorage, AK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,130
Initial cost, buildings and improvements	2,851
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,981
Accumulated depreciation	112
Dialysis II, Anniston, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	940
Initial cost, buildings and improvements	2,172
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,112
Accumulated depreciation	85
Dialysis II, Durham, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,517
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,087
Accumulated depreciation	59
Dialysis II, Etters, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	900
Initial cost, buildings and improvements	2,237
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,137
Accumulated depreciation	88
Dialysis II, Hopkinsville, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	740
Initial cost, buildings and improvements	1,802
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,542
Accumulated depreciation	71
Dialysis II, Mentor, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	1,098
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,588
Accumulated depreciation	44
Dialysis II, Radcliff, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,693
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,373
Accumulated depreciation	67
Dialysis II, River Forest, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,120
Initial cost, buildings and improvements	2,824
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,944
Accumulated depreciation	111
Dialysis II, Roanoke, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	610
Initial cost, buildings and improvements	1,454
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,064
Accumulated depreciation	57
Dialysis II, Salem, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	570
Initial cost, buildings and improvements	1,375
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,945
Accumulated depreciation	54
Dialysis II, Sarasota, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,646
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,326
Accumulated depreciation	65
Dialysis II, Summerville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	550
Initial cost, buildings and improvements	1,353
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,903
Accumulated depreciation	54
Dialysis II, Anderson, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,167
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,627
Accumulated depreciation	46
Dollar General XXIV, Potomac, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	765
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,075
Accumulated depreciation	30
Advance Auto IV, Burlington, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	815
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,135
Accumulated depreciation	32
Advance Auto IV, Greenville, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	395
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	555
Accumulated depreciation	16
Advance Auto IV, Huntingdon, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	438
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	618
Accumulated depreciation	17
Advance Auto IV, Marshfield, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	762
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,062
Accumulated depreciation	30
Advance Auto IV, Piqua, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	427
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	607
Accumulated depreciation	17
Advance Auto IV, Selma, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	389
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	569
Accumulated depreciation	16
Advance Auto IV, Tomah, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	686
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	956
Accumulated depreciation	27
Advance Auto IV, Waynesboro, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	551
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	791
Accumulated depreciation	22
Advance Auto IV, Waynesburg, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
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	718
Accumulated depreciation	20
Advance Auto V, Cedar Grove, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	529
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	729
Accumulated depreciation	21
Advance Auto V, Danville, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	467
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	657
Accumulated depreciation	18
Advance Auto V, Greenup, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
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	657
Accumulated depreciation	21
Advance Auto V, Hamlin, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	452
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	642
Accumulated depreciation	18
Advance Auto V, Milton, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
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	705
Accumulated depreciation	20
Advance Auto V, Moundsville, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	430
Initial cost, buildings and improvements	1,114
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,544
Accumulated depreciation	43
Advance Auto V, Point Pleasant, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	512
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	702
Accumulated depreciation	20
Advance Auto V, Sissonville, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	653
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	923
Accumulated depreciation	26
Advance Auto V, South Williamson, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	722
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	962
Accumulated depreciation	31
Advance Auto V, Wellsburg, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	419
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	579
Accumulated depreciation	16
Advance Auto V, West Charleston, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
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	789
Accumulated depreciation	22
Advance Auto IV, Indianapolis, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	464
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	654
Accumulated depreciation	18
Advance Auto IV, Menomonie, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	627
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	877
Accumulated depreciation	25
Advance Auto IV, Montgomery, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
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	700
Accumulated depreciation	19
Advance Auto IV, Springfield, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	427
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	607
Accumulated depreciation	17
Dollar General XXVI, Brooks, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	692
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	962
Accumulated depreciation	27
Dollar General XXVI, Daleville, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	534
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	764
Accumulated depreciation	21
Dollar General XXVI, East Brewton, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
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	816
Accumulated depreciation	23
Dollar General XXVI, LaGrange, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	740
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,010
Accumulated depreciation	29
Dollar General XXVI, LaGrange, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	801
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,121
Accumulated depreciation	31
Dollar General XXVI, Madisonville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	831
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 XXVI, Maryville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	750
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,020
Accumulated depreciation	29
Dollar General XXVI, Mobile, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	691
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	981
Accumulated depreciation	27
Dollar General XXVI, Newport, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
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	943
Accumulated depreciation	26
Dollar General XXVI, Robertsdale, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	975
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,365
Accumulated depreciation	38
Dollar General XXVI, Valley, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	591
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	851
Accumulated depreciation	23
Dollar General XXVI, Wetumpka, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	811
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,131
Accumulated depreciation	32
Pizza Hut IV, Harrisburg, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	130
Initial cost, buildings and improvements	300
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	430
Accumulated depreciation	12
Advance Auto IV, Oconomowoc, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,086
Accumulated depreciation	31
IMTAA, Reserve, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	740
Initial cost, buildings and improvements	1,215
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,955
Accumulated depreciation	52
Pizza Hut IV, Sylva, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	380
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	540
Accumulated depreciation	15
DaVita III, Humble, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	1,255
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,775
Accumulated depreciation	50
American Car Center I, Charleston, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	685
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	965
Accumulated depreciation	27
BJ's, Middleburg Height, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,270
Initial cost, buildings and improvements	6,428
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,698
Accumulated depreciation	341
Mammoth, Austell, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	700
Initial cost, buildings and improvements	1,896
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,596
Accumulated depreciation	74
Mammoth, Dalton, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	840
Initial cost, buildings and improvements	2,248
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,088
Accumulated depreciation	88
Mammoth, Mobile, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,606
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,206
Accumulated depreciation	63
Mammoth, Murray, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,030
Initial cost, buildings and improvements	2,753
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,783
Accumulated depreciation	108
Mammoth, Paducah, KY 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	630
Initial cost, buildings and improvements	1,663
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,293
Accumulated depreciation	65
Mammoth, Paducah, KY 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	656
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	916
Accumulated depreciation	26
Mammoth, Springville, UT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,080
Initial cost, buildings and improvements	2,748
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,828
Accumulated depreciation	108
Mammoth, Stockbridge, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	720
Initial cost, buildings and improvements	1,978
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,698
Accumulated depreciation	77
Mammoth, Suwanee, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,040
Initial cost, buildings and improvements	2,820
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,860
Accumulated depreciation	110
Mammoth, Spanish Fork, UT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,650
Initial cost, buildings and improvements	4,387
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,037
Accumulated depreciation	172
Mammoth, Lawrenceville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	890
Initial cost, buildings and improvements	2,380
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,270
Accumulated depreciation	93
DaVita IV, Flint, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	360
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	1,169
Accumulated depreciation	32
GPM, Niles, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	586
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	806
Accumulated depreciation	23
GPM, Allendale, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	530
Initial cost, buildings and improvements	1,377
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,907
Accumulated depreciation	54
GPM, Alma, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	716
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	986
Accumulated depreciation	28
GPM, Bay City, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	701
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	971
Accumulated depreciation	27
GPM, Big Rapids, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	370
Initial cost, buildings and improvements	990
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,360
Accumulated depreciation	39
GPM, Big Rapids, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	730
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,010
Accumulated depreciation	29
GPM, Caro, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	200
Initial cost, buildings and improvements	450
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	650
Accumulated depreciation	18
GPM, Chesaning, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
Initial cost, buildings and improvements	1,039
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,419
Accumulated depreciation	41
GPM, Coopersville, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	310
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	480
Accumulated depreciation	13
GPM, East Lansing, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	678
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	928
Accumulated depreciation	26
GPM, Escanaba, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	600
Initial cost, buildings and improvements	1,625
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,225
Accumulated depreciation	63
GPM, Essexville, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	80
Initial cost, buildings and improvements	203
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	283
Accumulated depreciation	8
GPM, Flint, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	549
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	789
Accumulated depreciation	22
GPM, Grand Rapids, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
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	808
Accumulated depreciation	23
GPM, Ionia, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	300
Initial cost, buildings and improvements	758
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,058
Accumulated depreciation	30
GPM, Lansing, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
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	1,037
Accumulated depreciation	29
GPM, Lansing, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	482
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	672
Accumulated depreciation	19
GPM, Lowell, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	1,024
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,414
Accumulated depreciation	40
GPM, Muskegon, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	485
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	675
Accumulated depreciation	19
GPM, Niles, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	589
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	829
Accumulated depreciation	23
GPM, Plainwell, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	688
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	948
Accumulated depreciation	27
GPM, Portage, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	473
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	683
Accumulated depreciation	19
GPM, Saginaw, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
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	1,123
Accumulated depreciation	32
GPM, Sault Ste Marie, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	452
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	642
Accumulated depreciation	18
GPM, Spring Lake, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,193
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,653
Accumulated depreciation	47
GPM, Walker, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	624
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	874
Accumulated depreciation	25
GPM, West Lafayette, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	250
Initial cost, buildings and improvements	672
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	922
Accumulated depreciation	26
GPM, Whitehall, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	484
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	674
Accumulated depreciation	19
GPM, Wyoming, MI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	750
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,040
Accumulated depreciation	29
GPM, Wyoming, MI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	337
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	497
Accumulated depreciation	14
IMTAA II, Grand Prairie, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	850
Initial cost, buildings and improvements	1,533
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,383
Accumulated depreciation	64
IMTAA II, New Orleans, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	840
Initial cost, buildings and improvements	1,518
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,358
Accumulated depreciation	64
IMTAA II, Chickasha, OK 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	870
Initial cost, buildings and improvements	1,444
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,314
Accumulated depreciation	61
IMTAA II, Chickasha, OK 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	830
Initial cost, buildings and improvements	1,517
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,347
Accumulated depreciation	64
IMTAA II, Gulfport, MS 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	490
Initial cost, buildings and improvements	846
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,336
Accumulated depreciation	36
IMTAA II, Gulfport, MS 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	720
Initial cost, buildings and improvements	1,352
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,072
Accumulated depreciation	57
Fresenius IX, Newton, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	750
Initial cost, buildings and improvements	1,892
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,642
Accumulated depreciation	75
Fresenius IX, Port Gibson, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	780
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,110
Accumulated depreciation	31
IMTAA II, Addis, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	540
Initial cost, buildings and improvements	881
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,421
Accumulated depreciation	38
IMTAA II, Picayune, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	760
Initial cost, buildings and improvements	1,334
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,094
Accumulated depreciation	56
IMTAA II, Lake Charles, LA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	983
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,503
Accumulated depreciation	41
IMTAA II, Lake Charles, LA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	550
Initial cost, buildings and improvements	954
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,504
Accumulated depreciation	40
Kamla Kaur, Albion, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	130
Initial cost, buildings and improvements	321
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	451
Accumulated depreciation	13
Kamla Kaur, Central City, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	750
Initial cost, buildings and improvements	1,905
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,655
Accumulated depreciation	75
Kamla Kaur, Cisne, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
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	1,227
Accumulated depreciation	35
Kamla Kaur, Harrisburg, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	669
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	939
Accumulated depreciation	26
Kamla Kaur, Metropolis, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	829
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,169
Accumulated depreciation	33
Kamla Kaur, Pickneyville, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	420
Initial cost, buildings and improvements	1,079
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,499
Accumulated depreciation	42
Kamla Kaur, Salem, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	80
Initial cost, buildings and improvements	208
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	288
Accumulated depreciation	8
Kamla Kaur, Stewardson, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	130
Initial cost, buildings and improvements	299
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	429
Accumulated depreciation	12
Kamla Kaur, Wayne City, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
Initial cost, buildings and improvements	831
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,161
Accumulated depreciation	33
Kamla Kaur, Xenia, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	130
Initial cost, buildings and improvements	303
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	433
Accumulated depreciation	12
Dialysis III, Andrews, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	547
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	767
Accumulated depreciation	22
Dialysis III, Batesburg, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	799
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,109
Accumulated depreciation	31
Dialysis III, Florence, SC 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	640
Initial cost, buildings and improvements	1,535
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,175
Accumulated depreciation	61
Dialysis III, Florence, SC 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	780
Initial cost, buildings and improvements	1,877
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,657
Accumulated depreciation	74
Dialysis III, Fort Lawn, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,295
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,795
Accumulated depreciation	51
Dialysis III, Fountain Inn, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	805
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,115
Accumulated depreciation	31
Dialysis III, Johnsonville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	620
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	890
Accumulated depreciation	25
Dialysis III, Kingstree, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	650
Initial cost, buildings and improvements	1,650
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,300
Accumulated depreciation	65
Dialysis III, Lugoff, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	765
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,075
Accumulated depreciation	30
Dialysis III, Manning, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	762
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,072
Accumulated depreciation	30
Dialysis III, Myrtle Beach, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	530
Initial cost, buildings and improvements	1,422
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,952
Accumulated depreciation	56
National Convenience Distributors, Chicopee, MA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,110
Initial cost, buildings and improvements	8,326
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,436
Accumulated depreciation	368
National Convenience Distributors, Chicopee, MA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,630
Initial cost, buildings and improvements	3,496
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,126
Accumulated depreciation	155
National Convenience Distributors, Chicopee, MA 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	427
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	597
Accumulated depreciation	18
National Convenience Distributors, Chicopee, MA 4
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,660
Initial cost, buildings and improvements	3,414
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,074
Accumulated depreciation	153
National Convenience Distributors, Chicopee, MA 5
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,380
Initial cost, buildings and improvements	3,256
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,636
Accumulated depreciation	142
Advance Auto VI, Columbus, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	699
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	959
Accumulated depreciation	27
Advance Auto VI, Sandusky, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	743
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,033
Accumulated depreciation	29
Dollar General XXVII, Buffalo, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	284
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	514
Accumulated depreciation	12
Dollar General XXVII, Clendenin, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	160
Initial cost, buildings and improvements	444
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	604
Accumulated depreciation	18
Dollar General XXVII, Elizabeth, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	340
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	580
Accumulated depreciation	14
Dollar General XXVII, Gassaway, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	317
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	597
Accumulated depreciation	13
Dollar General XXVII, Glenville, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	380
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	938
Accumulated depreciation	23
Dollar General XXVII, Middlebourne, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	190
Initial cost, buildings and improvements	249
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	439
Accumulated depreciation	10
Dollar General XXVII, Mt. Hope, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	419
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	589
Accumulated depreciation	16
Dollar General XXVII, Parkersburg, WV 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	410
Initial cost, buildings and improvements	540
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	950
Accumulated depreciation	22
Dollar General XXVII, Parkersburg, WV 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
Initial cost, buildings and improvements	552
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	942
Accumulated depreciation	23
Dollar General XXVII, Pennsboro, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	330
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	837
Accumulated depreciation	21
Dollar General XXVII, Point Pleasant, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	620
Initial cost, buildings and improvements	794
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,414
Accumulated depreciation	33
Dollar General XXVII, Sophia, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	340
Initial cost, buildings and improvements	434
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	774
Accumulated depreciation	18
Dollar General XXVII, St. Mary's, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	260
Initial cost, buildings and improvements	297
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	557
Accumulated depreciation	13
Dollar General XXVII, Sutton, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	253
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	483
Accumulated depreciation	11
Dollar General XXVII, Vienna, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	390
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	1,063
Accumulated depreciation	27
Pick N' Save, Franklin, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,810
Initial cost, buildings and improvements	5,988
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,798
Accumulated depreciation	230
Dollar General XXVII, New Haven, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	280
Initial cost, buildings and improvements	354
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	634
Accumulated depreciation	14
Tidal Wave I, Camden, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,270
Initial cost, buildings and improvements	2,736
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,006
Accumulated depreciation	108
Tidal Wave I, Columbus, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,030
Initial cost, buildings and improvements	2,821
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,851
Accumulated depreciation	110
Tidal Wave I, Fayetteville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,040
Initial cost, buildings and improvements	2,812
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,852
Accumulated depreciation	110
Tidal Wave I, Guntersville, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,090
Initial cost, buildings and improvements	2,921
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,011
Accumulated depreciation	114
Tidal Wave I, Hinesville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,160
Initial cost, buildings and improvements	2,855
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,015
Accumulated depreciation	112
Tidal Wave I, Macon, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,050
Initial cost, buildings and improvements	2,804
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,854
Accumulated depreciation	109
Tidal Wave I, Marietta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	880
Initial cost, buildings and improvements	2,975
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,855
Accumulated depreciation	115
Tidal Wave I, Milledgeville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,130
Initial cost, buildings and improvements	2,730
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,860
Accumulated depreciation	107
Tidal Wave I, Moultrie, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,090
Initial cost, buildings and improvements	2,928
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,018
Accumulated depreciation	114
Tidal Wave I, Overland Park, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,150
Initial cost, buildings and improvements	2,702
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,852
Accumulated depreciation	106
Tidal Wave I, Warner Robins, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,070
Initial cost, buildings and improvements	2,789
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,859
Accumulated depreciation	109
Imperial Reliance, Coffeyville, KS 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	315
Initial cost, buildings and improvements	723
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,038
Accumulated depreciation	29
Imperial Reliance, Coffeyville, KS 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	270
Initial cost, buildings and improvements	713
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	983
Accumulated depreciation	28
Aaron's II, DeRidder, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	755
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	995
Accumulated depreciation	30
Aaron's II, Buffalo, NY 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
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	745
Accumulated depreciation	21
Aaron's II, Buffalo, NY 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	310
Initial cost, buildings and improvements	363
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	673
Accumulated depreciation	15
Aaron's II, East Hartford, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	240
Initial cost, buildings and improvements	368
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	608
Accumulated depreciation	15
Aaron's II, Elmira, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	374
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	544
Accumulated depreciation	15
Aaron's II, Geneva, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	150
Initial cost, buildings and improvements	355
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	505
Accumulated depreciation	14
Aaron's II, Lawrence, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
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	873
Accumulated depreciation	26
Aaron's II, Presque Isle, ME
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	472
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	702
Accumulated depreciation	19
Aaron's II, Rutland, VT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	453
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	683
Accumulated depreciation	19
Aaron's II, Springfield, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	220
Initial cost, buildings and improvements	517
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	737
Accumulated depreciation	21
Aaron's II, Syracuse, NY 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	180
Initial cost, buildings and improvements	253
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	433
Accumulated depreciation	10
Aaron's II, Syracuse, NY 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	170
Initial cost, buildings and improvements	212
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	382
Accumulated depreciation	9
Aaron's II, Tonawanda, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	329
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	559
Accumulated depreciation	14
Aaron's II, Waterbury, CT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	687
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	897
Accumulated depreciation	27
Tidal Wave I, Mission, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,370
Initial cost, buildings and improvements	2,905
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,275
Accumulated depreciation	117
Tidal Wave I, Pace, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,540
Initial cost, buildings and improvements	2,768
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,308
Accumulated depreciation	113
Dollar General XXVII, Matewan, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	100
Initial cost, buildings and improvements	227
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	327
Accumulated depreciation	9
Aaron's II, Oxford, ME
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	378
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	668
Accumulated depreciation	16
Tidal Wave I, Kansas City, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,310
Initial cost, buildings and improvements	3,509
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,819
Accumulated depreciation	137
Heritage I, Bellevue, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	110
Initial cost, buildings and improvements	211
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	321
Accumulated depreciation	9
Heritage I, Cleveland, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	150
Initial cost, buildings and improvements	347
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	497
Accumulated depreciation	14
Heritage I, Homer, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	110
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	365
Accumulated depreciation	10
Heritage I, Louisville, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	960
Initial cost, buildings and improvements	2,472
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,432
Accumulated depreciation	97
Heritage I, Marshall, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	820
Initial cost, buildings and improvements	2,737
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,557
Accumulated depreciation	107
Fidelity I, Chillocothe, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	770
Initial cost, buildings and improvements	1,717
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,487
Accumulated depreciation	68
Fidelity I, Columbus, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	210
Initial cost, buildings and improvements	313
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	523
Accumulated depreciation	13
Fidelity I, Marion, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	70
Initial cost, buildings and improvements	143
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	213
Accumulated depreciation	6
Fidelity I, Savannah, GA 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	320
Initial cost, buildings and improvements	420
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	740
Accumulated depreciation	17
Fidelity I, Savannah, GA 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,028
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,488
Accumulated depreciation	41
Fidelity I, Savannah, GA 3
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	750
Initial cost, buildings and improvements	1,046
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,796
Accumulated depreciation	43
BJ's Wholesale Club II, Batavia, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,600
Initial cost, buildings and improvements	4,344
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,944
Accumulated depreciation	172
McCain Plaza, Little Rock, AR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	9,357
Initial cost, buildings and improvements	18,912
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	28,269
Accumulated depreciation	867
Heritage I, Battle Creek, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	230
Initial cost, buildings and improvements	708
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	938
Accumulated depreciation	28
Plaza San Mateo, Albuquerque, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,617
Initial cost, buildings and improvements	6,894
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	26
Real estate, gross	8,537
Accumulated depreciation	269
Ventura Place, Albuquerque, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,365
Initial cost, buildings and improvements	6,934
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,299
Accumulated depreciation	267
Fairlane Green, Allen Park, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,922
Initial cost, buildings and improvements	9,487
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	252
Real estate, gross	11,661
Accumulated depreciation	466
Melody Mountain, Ashland, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	907
Initial cost, buildings and improvements	6,117
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,024
Accumulated depreciation	233
MattressFirm & Kay Jewelers, Ashtabula, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	196
Initial cost, buildings and improvements	1,354
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,550
Accumulated depreciation	53
Beaver Creek Shopping Center, Beavercreek, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,265
Initial cost, buildings and improvements	19,678
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,943
Accumulated depreciation	738
Shoppes of Gary Farms, Bowling Green, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,495
Initial cost, buildings and improvements	12,016
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,511
Accumulated depreciation	489
Fountain Square, Brookfield, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,085
Initial cost, buildings and improvements	15,323
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,408
Accumulated depreciation	609
Carlisle Crossing, Carlisle, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,919
Initial cost, buildings and improvements	9,955
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,874
Accumulated depreciation	524
Market at Clifty Crossing, Columbus, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,473
Initial cost, buildings and improvements	14,343
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	149
Real estate, gross	16,965
Accumulated depreciation	545
The Market at Polaris, Columbus, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,285
Initial cost, buildings and improvements	10,234
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,519
Accumulated depreciation	424
Darien Towne Centre, Darien, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,236
Initial cost, buildings and improvements	12,973
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	16,209
Accumulated depreciation	507
Derby Marketplace, Derby, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,755
Initial cost, buildings and improvements	5,364
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,119
Accumulated depreciation	226
Mattress Firm & Panera Bread, Elyria, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,336
Initial cost, buildings and improvements	1,483
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,819
Accumulated depreciation	74
Enid Crossing, Enid, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	457
Initial cost, buildings and improvements	2,696
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,153
Accumulated depreciation	119
Evergreen Marketplace, Evergreen Park, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	856
Initial cost, buildings and improvements	5,158
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,014
Accumulated depreciation	203
Turfway Crossing, Florence, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,655
Initial cost, buildings and improvements	6,993
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,648
Accumulated depreciation	285
FreshThyme & DSW, Fort Wayne, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	900
Initial cost, buildings and improvements	3,627
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,527
Accumulated depreciation	140
Crosspoint Shopping Center, Hagerstown, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,311
Initial cost, buildings and improvements	9,812
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	15,123
Accumulated depreciation	529
Rolling Acres, Lady Lake, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,644
Initial cost, buildings and improvements	19,912
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	24,556
Accumulated depreciation	854
Crossroads Annex, Lafayette, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,153
Initial cost, buildings and improvements	4,167
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,320
Accumulated depreciation	182
Tellico Village, Loudon, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	226
Initial cost, buildings and improvements	4,748
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,974
Accumulated depreciation	196
University Marketplace, Marion, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,257
Initial cost, buildings and improvements	3,559
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,816
Accumulated depreciation	156
Pecanland Plaza, Monroe, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,640
Initial cost, buildings and improvements	12,192
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	13,832
Accumulated depreciation	496
Mattress Firm & Five Guys, Muskegon, MI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	254
Initial cost, buildings and improvements	1,778
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,032
Accumulated depreciation	75
Dick's PetSmart Center, Oshkosh, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	719
Initial cost, buildings and improvements	4,640
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	5,359
Accumulated depreciation	181
Owensboro Town Center, Owensboro, KY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,172
Initial cost, buildings and improvements	15,704
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,876
Accumulated depreciation	619
Plainfield Marketplace, Plainfield, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,748
Initial cost, buildings and improvements	10,648
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,396
Accumulated depreciation	425
Crossroads Commons, Plover, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	2,950
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,450
Accumulated depreciation	117
Triangle Town Place, Raleigh, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,735
Initial cost, buildings and improvements	23,188
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	2
Real estate, gross	26,925
Accumulated depreciation	774
PetSmart & Old Navy, Reynoldsburg, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	702
Initial cost, buildings and improvements	3,198
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,900
Accumulated depreciation	134
Summerfield Crossing, Riverview, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,807
Initial cost, buildings and improvements	4,563
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,370
Accumulated depreciation	224
Sutters Creek, Rocky Mount, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,837
Initial cost, buildings and improvements	1,931
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,768
Accumulated depreciation	87
Shoe Carnival & Buffalo Wild Wings, Salina, KS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	580
Initial cost, buildings and improvements	1,564
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,144
Accumulated depreciation	70
Lord Salisbury Center, Salisbury, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,317
Initial cost, buildings and improvements	7,953
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	10,270
Accumulated depreciation	332
Wallace Commons II, Salisbury, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,074
Initial cost, buildings and improvements	3,837
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,911
Accumulated depreciation	176
Southwest Plaza, Springfield, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	7,109
Initial cost, buildings and improvements	12,818
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,927
Accumulated depreciation	679
Shoppes at Stroud, Stroud Township, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,021
Initial cost, buildings and improvements	16,205
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,226
Accumulated depreciation	708
Nordstrom Rack, Tampa, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,683
Initial cost, buildings and improvements	4,930
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	11,613
Accumulated depreciation	181
Mattress Firm & Aspen Dental, Vienna, WV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	503
Initial cost, buildings and improvements	1,907
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,410
Accumulated depreciation	69
Cottonwood Commons, Albuquerque, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	5,561
Initial cost, buildings and improvements	19,229
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	74
Real estate, gross	24,864
Accumulated depreciation	793
Target Center, Columbia, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,481
Initial cost, buildings and improvements	5,062
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,543
Accumulated depreciation	208
North Lake Square, Gainesville, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,365
Initial cost, buildings and improvements	15,597
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,962
Accumulated depreciation	665
Houma Crossing, Houma, LA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,149
Initial cost, buildings and improvements	11,407
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	14,556
Accumulated depreciation	501
Western Crossing, Jacksonville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,353
Initial cost, buildings and improvements	4,738
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,091
Accumulated depreciation	205
Lafayette Pavilion, Lafayette, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,282
Initial cost, buildings and improvements	34,371
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	40,653
Accumulated depreciation	1,410
Lawton Marketplace, Lawton, OK
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,394
Initial cost, buildings and improvements	19,826
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	23,220
Accumulated depreciation	1,101
Fourth Creek Landing, Statesville, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,969
Initial cost, buildings and improvements	4,278
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,247
Accumulated depreciation	174
The Center at Hobbs Brook, Sturbridge, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,213
Initial cost, buildings and improvements	17,186
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	20,399
Accumulated depreciation	769
Almeda Crossing, Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,819
Initial cost, buildings and improvements	14,133
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	17,952
Accumulated depreciation	593
Boston Commons, Springfield, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	959
Initial cost, buildings and improvements	2,082
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,041
Accumulated depreciation	113
Walgreens, Huntsville, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,280
Initial cost, buildings and improvements	3,176
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,456
Accumulated depreciation	125
Terrell Mill Village, Marietta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	6,591
Initial cost, buildings and improvements	5,884
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	12,475
Accumulated depreciation	265
Wallace Commons, Salisbury, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,514
Initial cost, buildings and improvements	5,535
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,049
Accumulated depreciation	230
Academy Sports, Valdosta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,650
Initial cost, buildings and improvements	5,494
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,144
Accumulated depreciation	220
The Marquis, Williamsburg, VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	2,256
Initial cost, buildings and improvements	6,472
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,728
Accumulated depreciation	257
Albany Square, Albany, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,754
Initial cost, buildings and improvements	3,206
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,960
Accumulated depreciation	137
Waterford Park South, Clarksville, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,024
Initial cost, buildings and improvements	6,759
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,783
Accumulated depreciation	301
Coventry Crossing, Coventry, RI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,053
Initial cost, buildings and improvements	3,126
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,179
Accumulated depreciation	150
Fresh Market Center, Glen Ellyn, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	948
Initial cost, buildings and improvements	2,535
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,483
Accumulated depreciation	116
Parkway Centre South, Grove City, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,038
Initial cost, buildings and improvements	15,912
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	19,950
Accumulated depreciation	679
The Ridge at Turtle Creek, Hattiesburg, MS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,679
Initial cost, buildings and improvements	6,702
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,381
Accumulated depreciation	270
Stoneridge Village, Jefferson City, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	958
Initial cost, buildings and improvements	7,274
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	8,232
Accumulated depreciation	406
Harbor Town Center, Manitowoc, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,195
Initial cost, buildings and improvements	8,687
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	9,882
Accumulated depreciation	346
Morganton Heights, Morganton, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	3,467
Initial cost, buildings and improvements	25,854
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	29,321
Accumulated depreciation	1,114
Tire Kingdom & Starbucks, Mt. Pleasant, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,287
Initial cost, buildings and improvements	2,772
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,059
Accumulated depreciation	107
Walgreens & Key Bank, Newburgh, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	967
Initial cost, buildings and improvements	5,282
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	6,249
Accumulated depreciation	209
Bed Bath Beyond Golfsmith, Schaumburg, IL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,172
Initial cost, buildings and improvements	5,942
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	7,114
Accumulated depreciation	228
Springfield Commons, Springfield, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	215
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	2,058
Accumulated depreciation	64
Walmart Neighborhood Market, Summerville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,249
Initial cost, buildings and improvements	2,959
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	4,208
Accumulated depreciation	159
Imperial Reliance III, Fort Atkinson, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	460
Initial cost, buildings and improvements	1,036
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,496
Accumulated depreciation	41
Imperial Reliance III, Lake Mills, WI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,404
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,904
Accumulated depreciation	55
Imperial Reliance III, Lake Mills, WI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,092
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,772
Accumulated depreciation	44
Imperial Reliance III, Madison, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	680
Initial cost, buildings and improvements	1,498
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,178
Accumulated depreciation	59
Imperial Reliance III, McFarland, WI 1
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	500
Initial cost, buildings and improvements	1,340
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,840
Accumulated depreciation	52
Imperial Reliance III, McFarland, WI 2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	910
Initial cost, buildings and improvements	1,239
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	2,149
Accumulated depreciation	51
Imperial Reliance III, Waterloo, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	530
Initial cost, buildings and improvements	1,343
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,873
Accumulated depreciation	53
Imperial Reliance III, Deerfield, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	520
Initial cost, buildings and improvements	1,281
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,801
Accumulated depreciation	50
McGowin Park, Mobile, AL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	8,742
Initial cost, buildings and improvements	32,754
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	41,496
Accumulated depreciation	1,253
Fidelity I, Covington, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	1,040
Initial cost, buildings and improvements	2,819
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	3,859
Accumulated depreciation	111
Fidelity II, Beaufort, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	290
Initial cost, buildings and improvements	349
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	639
Accumulated depreciation	15
Fidelity II, Savannah, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	630
Initial cost, buildings and improvements	1,061
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	1,691
Accumulated depreciation	43
Fed Ex, Marion, Il
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost, land	4,784
Initial cost, buildings and improvements	43,082
Costs capitalized subsequent to acquisition, land	0
Costs capitalized subsequent to acquisition, buildings and improvements	0
Real estate, gross	47,866
Accumulated depreciation	2,077
Encumbrances
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,253,621

Real Estate and Accumulated D_3

Real Estate and Accumulated Depreciation Schedule III - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Apr. 05, 2024	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Acquired intangible assets	$ 1,100,000
Cost for income tax purposes	8,100,000
Accumulated Amortization	$ 432,775		$ 468,973
Useful life, buildings	40 years
Useful life, land and building improvements	15 years
Useful life, fixtures	5 years
Mortgage Notes Payable
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Mortgage discount	$ 90,444		140,403
Deferred financing costs	11,471		7,112
Term loan	2,323,621		2,665,383
Mortgage Notes Payable | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	2,246,755		2,325,349
Mortgage Notes Payable | Finland Properties | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	76,900
Mortgage Notes Payable | Multi-Tenant Mortgage Loan I | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	162,580		162,580
Mortgage Notes Payable | Multi-Tenant Mortgage Loan II | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	32,750		32,750
Mortgage Notes Payable | Multi-Tenant Mortgage Loan III | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	98,500		98,500
Mortgage Notes Payable | Multi-Tenant Mortgage Loan IV | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	90,111		97,500
Mortgage Notes Payable | Multi-Tenant Mortgage Loan V | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	139,771		139,771
Mortgage Notes Payable | Net Lease Mortgage Notes | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	449,300
Mortgage Notes Payable | Column Financial Notes | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	463,400
Mortgage Notes Payable | Mortgage Loan II | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	210,000		210,000
Mortgage Notes Payable | Mortgage Loan III | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	33,400		33,400
Mortgage Notes Payable | CMBS Loan | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	260,000	$ 237,000	260,000
Mortgage Notes Payable | CMBS Loan II | USD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Term loan	$ 237,000		$ 0

Real Estate and Accumulated D_4

Real Estate and Accumulated Depreciation Schedule III - Part 2 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Real estate investments, at cost:
Balance at beginning of year	$ 7,296,163	$ 3,797,474	$ 3,942,985
Additions - Capital Expenditures/Acquisitions	45,961	3,613,000	60,378
Asset dispositions (including write-off of fully depreciated assets)	(706,957)	(97,218)	(65,753)
Transfer to assets held for sale	(16,232)	(3,209)	0
Impairment charge	(108,465)	(66,672)	(20,276)
Currency translation adjustment	(40,506)	52,788	(119,860)
Balance at end of the year	6,469,964	7,296,163	3,797,474
Accumulated depreciation:
Balance at beginning of year	614,851	501,971	431,886
Depreciation expense	176,209	121,313	96,188
Asset dispositions/Impairment Charges (including write-off of fully depreciated assets)	(37,147)	(16,013)	(12,491)
Transfer to assets held for sale	(21)	(21)	0
Currency translation adjustment	(22,038)	7,601	(13,612)
Balance at end of the year	$ 731,854	$ 614,851	$ 501,971