Inland Real Estate Income Trust (INRE) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Inland Real Estate Income Trust, Inc.
Entity Central Index Key	1,528,985
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		88,720,643
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Investment properties:
Land	$ 279,723	$ 262,210
Building and other improvements	1,016,190	971,021
Total	1,295,913	1,233,231
Less accumulated depreciation	(92,370)	(62,631)
Net investment properties	1,203,543	1,170,600
Cash and cash equivalents	10,874	10,861
Investment in unconsolidated entities	5,685	126
Accounts and rent receivable	12,934	11,671
Acquired lease intangible assets, net	145,680	150,108
Deferred costs, net	1,120	683
Other assets	11,068	13,511
Total assets	1,390,904	1,357,560
Liabilities:
Mortgages and credit facility payable, net	681,164	606,025
Accounts payable and accrued expenses	11,539	7,270
Distributions payable	4,395	4,488
Acquired intangible liabilities, net	63,690	63,474
Deferred investment property acquisition obligations	1,553	6,856
Due to related parties	3,214	2,663
Other liabilities	11,449	12,330
Total liabilities	777,004	703,106
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.001 par value, 40,000,000 shares authorized, none outstanding
Common stock, $.001 par value, 1,460,000,000 shares authorized, 88,919,975 and 88,155,707 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	89	88
Additional paid in capital (net of offering costs of $87,059 as of September 30, 2017 and December 31, 2016)	799,829	792,478
Accumulated distributions and net loss	(188,604)	(140,417)
Accumulated other comprehensive income	2,586	2,305
Total stockholders’ equity	613,900	654,454
Total liabilities and stockholders’ equity	$ 1,390,904	$ 1,357,560

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,460,000,000	1,460,000,000
Common stock, shares issued	88,919,975	88,155,707
Common stock, shares outstanding	88,919,975	88,155,707
Additional paid in capital, offering costs	$ 87,059	$ 87,059

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income:
Rental income	$ 24,640	$ 23,831	$ 74,312	$ 69,937
Tenant recovery income	7,291	6,336	21,964	19,731
Other property income	179	736	352	909
Total income	32,110	30,903	96,628	90,577
Cost and Expenses:
Property operating expenses	5,519	5,195	16,390	15,592
Real estate tax expense	4,386	3,576	12,384	10,893
General and administrative expenses	875	1,245	3,397	3,958
Acquisition related costs	62	(413)	1,262	421
Business management fee	2,311	2,190	6,871	6,421
Depreciation and amortization	15,492	14,442	46,391	45,158
Total expenses	28,645	26,235	86,695	82,443
Operating income	3,465	4,668	9,933	8,134
Interest expense	(6,361)	(5,547)	(18,316)	(16,189)
Interest and other income	20	18	72	360
Equity in earnings (losses) of unconsolidated entities	20	(100)	20	193
Net loss	$ (2,856)	$ (961)	$ (8,291)	$ (7,502)
Net loss per common share, basic and diluted	$ (0.03)	$ (0.01)	$ (0.09)	$ (0.09)
Weighted average number of common shares outstanding, basic and diluted	89,143,838	87,685,402	88,890,808	87,165,085
Comprehensive (loss) income:
Net loss	$ (2,856)	$ (961)	$ (8,291)	$ (7,502)
Unrealized (loss) gain on derivatives	(268)	519	(1,721)	(10,384)
Reclassification adjustment for amounts included in net loss	507	1,077	2,002	3,039
Comprehensive (loss) income	$ (2,617)	$ 635	$ (8,010)	$ (14,847)

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Distributions and Net Loss [Member]	Accumulated Other Comprehensive Income [Member]
Balance at Dec. 31, 2016	$ 654,454	$ 88	$ 792,478	$ (140,417)	$ 2,305
Balance at Dec. 31, 2016	88,155,707	88,155,707
Distributions declared	$ (39,896)			(39,896)
Proceeds from distribution reinvestment plan	$ 20,415	$ 2	20,413
Proceeds from distribution reinvestment plan, shares	8,102,860	2,258,338
Shares repurchased	$ (13,085)	$ (1)	(13,084)
Shares repurchased, shares	(3,019,049)	(1,495,179)
Unrealized loss on derivatives	$ (1,721)				(1,721)
Reclassification adjustment for amounts included in net loss	2,002				2,002
Equity based compensation	22		22
Equity based compensation, shares		1,109
Net loss	(8,291)			(8,291)
Balance at Sep. 30, 2017	$ 613,900	$ 89	$ 799,829	$ (188,604)	$ 2,586
Balance at Sep. 30, 2017	88,919,975	88,919,975

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (8,291)	$ (7,502)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	46,391	45,158
Amortization of debt issuance costs and mortgage premiums, net	267	303
Amortization of acquired market leases, net	(1,069)	(537)
Amortization of equity based compensation	22	8
Straight-line income, net	(1,276)	(1,703)
Equity in earnings of unconsolidated entities	(20)	(193)
Distributions from unconsolidated entity	146
Payment of leasing fees	(570)	(249)
Adjustment of contingent earnout liability	1,084	(1,643)
Other non-cash adjustments	(35)	(218)
Changes in assets and liabilities:
Accounts payable and accrued expenses	4,041	2,276
Accounts and rent receivable	608	(193)
Due to related parties	446	(5,680)
Other liabilities	(222)	(609)
Other assets	1,277	1,010
Net cash flows provided by operating activities	42,799	30,228
Cash flows from investing activities:
Purchase of investment properties	(69,953)	(79,034)
Capital expenditures	(4,042)	(7,696)
Investment in unconsolidated joint ventures	(5,602)
Other assets and restricted escrows	611	164
Net cash flows used in investing activities	(78,986)	(86,566)
Cash flows from financing activities:
Payment of credit facility	(43,000)	(135,000)
Proceeds from credit facility	79,300	70,000
Proceeds from mortgages payable	39,180	147,957
Payment of mortgages payable	(164)	(58,470)
Proceeds from the distribution reinvestment plan	20,415	20,920
Shares repurchased	(12,683)	(6,689)
Payment of offering costs		(201)
Distributions paid	(39,989)	(39,235)
Payment of deferred investment property acquisition obligations	(6,415)	(8,838)
Payment of debt issuance costs	(444)	(1,647)
Net cash flows provided by (used in) financing activities	36,200	(11,203)
Net increase (decrease) in cash and cash equivalents	13	(67,541)
Cash and cash equivalents at beginning of the period	10,861	83,843
Cash and cash equivalents, at end of period	10,874	16,302
Supplemental disclosure of cash flow information:
Land	17,513	15,128
Building and improvements	41,793	53,849
Acquired in place lease intangibles	6,740	12,768
Acquired above market lease intangibles	8,645	1,080
Acquired below market lease intangibles	(4,590)	(3,432)
Assumed liabilities, net	(148)	(359)
Purchase of investment properties	69,953	79,034
Cash paid for interest	18,075	15,714
Supplemental schedule of non-cash investing and financing activities:
Distributions payable	$ 4,395	$ 4,318

Organization

Organization	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	NOTE 1 – ORGANIZATION The Company was formed on August 24, 2011 to acquire and manage a portfolio of commercial real estate investments located in the United States. The Company has primarily focused on acquiring retail properties. The Company has invested in joint ventures and may continue to invest in additional joint ventures or acquire other real estate assets such as office and medical office buildings, multi-family properties and industrial/distribution and warehouse facilities if its management believes the expected returns from those investments exceed that of retail properties. The Company also may invest in real estate-related equity securities of both publicly traded and private real estate companies, as well as commercial mortgage-backed securities. The Company entered into a Business Management Agreement with IREIT Business Manager & Advisor, Inc. (the “Business Manager”), an indirect wholly owned subsidiary of Inland Real Estate Investment Corporation (the “Sponsor”), to be the Business Manager to the Company. At September 30, 2017, the Company owned 59 retail properties, totaling 6,860,923 square feet. The properties are located in 24 states. At September 30, 2017, the portfolio had a weighted average physical occupancy of 93.9% and economic occupancy of 94.9%. Economic occupancy excludes square footage associated with an earnout component.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Disclosures discussing all significant accounting policies are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the Securities and Exchange Commission on March 15, 2017, under the heading Note 2 – “Summary of Significant Accounting Policies.” There have been no changes to the Company’s significant accounting policies during the nine months ended September 30, 2017. General The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. In the opinion of management, all adjustments necessary for a fair statement, in all material respects, of the financial position and results of operations for the periods are presented. Actual results could differ from those estimates. The results of operations for the interim periods are not necessarily indicative of the results for the entire year. Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities. • expands hedge accounting for nonfinancial and financial risk components and amends measurement methodologies to more closely align hedge accounting with a company’s risk management activities; • decreases the complexity of preparing hedge results through eliminating separate measurement and reporting of hedge ineffectiveness; • enhances disclosures and changes presentation of hedge results to align the effects of the hedging instrument and the hedged item; • simplifies the assessment of hedge effectiveness. The amendment is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted in any interim period after issuance of the update. For cash flow and net investment hedges existing at the date of adoption, an entity should apply a cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year that an entity adopts the amendments in this update. The amended presentation and disclosure guidance is required only prospectively. The Company does not believe the adoption of ASU No. 2017-12 will have a material impact on its consolidated financial statements and related disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. will require that amounts described as restricted cash and restricted cash equivalents be included in beginning and ending-of-period reconciliation of cash shown on the statement of cash flows. The amendment is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230). In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU No. 2016-02 supersedes the previous leases standard, Leases The Company anticipates that it will be required to bifurcate certain lease revenues between lease and non-lease components. Additionally, only incremental direct leasing costs may be capitalized under this new guidance, which is consistent with the Company’s existing policies. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company expects to adopt the guidance on a modified retrospective basis and upon adoption of the Leases guidance, non-lease components of new, extended or modified leases, including common area maintenance reimbursements, will be accounted for under the Revenue from Contracts with Customers guidance as described below. The Company is also the lessee under a ground lease, which it will be required to recognize right of use asset and a related lease liability on its consolidated balance sheets upon adoption. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, although it will not affect the accounting for rental related revenues. The new standard may be applied retrospectively to each prior period presented or prospectively with the cumulative effect, if any, recognized as of the date of adoption. The Company anticipates selecting the modified retrospective transition method with a cumulative effect recognized as of the date of adoption and will adopt the new standard effective January 1, 2018, when effective. While the Company anticipates additional disclosure, it does not expect the adoption of this pronouncement will have a material effect on its consolidated financial statements as it believes the majority of its revenue falls outside of the scope of this guidance; however, it will continue to evaluate this assessment until the guidance becomes effective. Our remaining implementation items include calculating the cumulative effect adjustment, if any, to be recorded upon adoption, drafting revised disclosures in accordance with the new standard and implementing changes to internal control policies and procedures, if any. Common area maintenance reimbursements to be impacted by ASU No. 2014-09 will not be addressed until the Company's adoption of ASU No. 2016-02, considering its revisions to accounting for common area maintenance described above

Equity

Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Equity	NOTE 3 – EQUITY The Company was authorized to sell up to 150,000,000 shares of common stock at $10 per share in an initial public “best efforts” offering (the “Offering”) which commenced on October 18, 2012 and concluded on October 16, 2015. The Company issued 83,835,055 shares of common stock generating gross proceeds of $834,399 from the Offering. As of September 30, 2017, there were 88,919,975 shares of common stock outstanding including 8,102,860 shares issued through the distribution reinvestment plan (“DRP”), net of 3,019,049 shares repurchased through the share repurchase program (“SRP”). On March 29, 2017 the Company’s board of directors determined an estimated per share net asset value (the “Estimated Per Share NAV”) of the Company’s common stock of $9.05 as reported in the Company’s Form 8-K filed with the Securities and Exchange Commission on March 30, 2017. The Company’s previously estimated per share net asset value of $9.02 was established on April 7, 2016. The Company provides the following programs to facilitate additional investment in the Company’s shares and to provide limited liquidity for stockholders. Distribution Reinvestment Plan The Company provides existing stockholders with the option to purchase additional shares from the Company by automatically reinvesting distributions through the DRP, subject to certain share ownership restrictions. The Company does not pay any selling commissions or a marketing contribution and due diligence expense allowance in connection with the DRP. Pursuant to the DRP, the price per share for shares of common stock purchased under the DRP is equal to the estimated value of a share, as determined by the Company’s board of directors and reported by the Company from time to time, until the shares become listed for trading, if a listing occurs, assuming that the DRP has not been terminated or suspended in connection with such listing. Prior to April 7, 2016 shares were sold through the DRP at a price of $9.50 per share. Subsequently, shares were sold through the DRP at a price of $9.02 until March 30, 2017, when the Company reported a new Estimated Per Share NAV. Accordingly, under the DRP, beginning with reinvestments made on and after March 30, 2017, and until the Company announces a new Estimated Per Share NAV, distributions may be reinvested for shares of the Company’s common stock at a price equal to $9.05 per share. Distributions reinvested through the DRP were $20,415 and $20,920 for the nine months ended September 30, 2017 and 2016, respectively. Share Repurchase Program Under the SRP, the Company is authorized to purchase shares from stockholders who purchased their shares from the Company or received their shares through a non-cash transfer and who have held their shares for at least one year, if requested, if the Company chooses to purchase them. Subject to funds being available, the Company limits the number of shares repurchased during any calendar year to 5% of the number of shares outstanding on December 31 st Pursuant to the SRP, the Company may repurchase shares at prices ranging from 92.5% of the “share price,” as defined in the SRP, for stockholders who have owned shares for at least one year to 100% of the “share price” for stockholders who have owned shares for at least four years. For repurchases sought upon a stockholder’s death or qualifying disability, the Company may repurchase shares at a price equal to 100% of the “share price.” As used in the SRP, “share price” means the lesser of (1) the offering price of the Company’s shares in the Offering (unless the shares were purchased at a discount from that price, and then that purchase price), reduced by any distributions of net sale proceeds that the Company designates as constituting a return of capital; or (2) the most recently disclosed estimated value per share. Accordingly, under the SRP, beginning with repurchases on and after March 30, 2017, and until we announce a new Estimated Per Share NAV, the “share price” is equal to $9.05 per share. Repurchases through the SRP were $13,085 and $7,057 for the nine months ended September 30, 2017 and 2016, respectively. At September 30, 2017 and December 31, 2016, the Company’s liability related to the SRP was $1,850 and $1,448, respectively, recorded in other liabilities on the Company’s consolidated balance sheets.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	NOTE 4 – ACQUISITIONS 2017 Acquisitions During the nine months ended September 30, 2017, the Company, through its wholly owned subsidiaries, acquired the properties listed below from unaffiliated third parties. The acquisitions were financed with proceeds from the Company’s credit facility (the “Credit Facility”). Date Acquired Property Name Location Property Type Square Footage Purchase Price (a) 1st Quarter 1/27/2017 Wilson Marketplace Wilson, NC Multi-Tenant Retail 311,030 $ 40,783 2nd Quarter 4/3/2017 Pentucket Shopping Center Plaistow, NH Multi-Tenant Retail 198,469 24,100 3rd Quarter 7/14/2017 Coastal North Town Center - Phase II Myrtle Beach, SC Retail 6,588 3,716 516,087 $ 68,599 (a) Contractual purchase price excluding closing credits. The above acquisitions were accounted for as asset acquisitions. For the three months ended September 30, 2017, the Company incurred $202 of total acquisition costs and fees, $140 of which are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets. For the three months ended September 30, 2017, $62 of acquisition and dead deal costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. For the nine months ended September 30, 2017, the Company incurred $2,721 of total acquisition costs and fees, $1,459 of which are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets. An adjustment to the deferred investment property acquisition obligation of $1,084 and $178 of acquisition and dead deal costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. The Company recorded a decrease of $413 and incurred $421 of acquisition, dead deal and transaction related costs, during the three and nine months ended September 30, 2016, respectively, including changes to initial assumptions related to deferred investment property acquisition obligations (See Note 10 – “Commitments and Contingencies”) that were recorded in acquisition related costs in the consolidated statements of operations and comprehensive loss related to both closed and potential transactions. These costs include third party due diligence costs such as appraisals, environmental studies, and legal fees as well as acquisition fees and time and travel expense reimbursements to the Sponsor and its affiliates. The following table presents certain additional information regarding the Company’s acquisitions during the nine months ended September 30, 2017. The amounts recognized for major assets acquired and liabilities assumed as of the acquisition date are as follows: Nine Months Ended September 30, 2017 Land $ 17,513 Building and improvements 41,793 Acquired lease intangible assets 15,385 Acquired intangible liabilities (4,590 ) Assumed liabilities, net (148 ) Total $ 69,953

Investment in Unconsolidated En

Investment in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2017
Equity Method Investments And Joint Ventures [Abstract]
Investment in Unconsolidated Entities	NOTE 5 – INVESTMENT IN UNCONSOLIDATED ENTITIES The Company analyzes its joint venture agreements to determine whether the joint ventures are variable interest entities and, if so, whether the Company is the primary beneficiary by analyzing whether it has both the power to direct the joint ventures’ significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits. Accordingly, the Company has determined that the joint venture partners have the ability to participate in major decisions, which equates to shared decision making but that the Company does not have a controlling financial interest. Therefore, these joint ventures are not consolidated by the Company and the equity method of accounting is used to account for these investments. Under the equity method of accounting, the net equity investment of the Company and the Company's share of net income or loss from the unconsolidated entity are reflected in the consolidated balance sheets and the consolidated statements of operations and comprehensive loss. The following table summarizes the Company’s joint ventures: Investment in unconsolidated entities Entity Company's Profit/Loss Allocation at September 30, 2017 Remaining Commitment September 30, 2017 December 31, 2016 Mainstreet Texas Development Fund, LLC (“Mainstreet JV”) (a) 83 % $ 2,931 $ 5,685 $ — Oak Property Casualty, LLC ("Captive") (b) n/a $ — — 126 $ 5,685 $ 126 (a) In August 2017, the Company, through a wholly owned taxable REIT subsidiary, made an equity commitment to Mainstreet JV in order to develop, construct, lease, finance and sell parcels of land and related building improvements including personal property which are to be operated as rapid recovery healthcare facilities located in Beaumont, Amarillo and Temple, Texas. The investment balance includes capitalized acquisition and legal costs of $116 incurred. (b) The Company is a member of a limited liability company formed as an insurance association captive, which is owned by the Company, IRC Retail Centers LLC, InvenTrust Properties Corp. and Retail Properties of America, Inc. See Note 13 – “Transactions with Related Parties.”

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets and Liabilities	NOTE 6 – ACQUIRED INTANGIBLE ASSETS AND LIABILITIES The following table summarizes the Company’s identified intangible assets and liabilities as of September 30, 2017 and December 31, 2016: September 30, 2017 December 31, 2016 Intangible assets: Acquired in place lease value $ 166,419 $ 159,679 Acquired above market lease value 45,824 37,179 Accumulated amortization (66,563 ) (46,750 ) Acquired lease intangibles, net $ 145,680 $ 150,108 Intangible liabilities: Acquired below market lease value $ 71,551 $ 66,962 Above market ground lease 5,169 5,169 Accumulated amortization (13,030 ) (8,657 ) Acquired intangible liabilities, net $ 63,690 $ 63,474 As of September 30, 2017, the weighted average amortization periods for acquired in place lease, above market lease intangibles, below market lease intangibles and above market ground leases are 10, 14, 19 and 55 years, respectively. The portion of the purchase price allocated to acquired above market lease value and acquired below market lease value is amortized on a straight-line basis over the term of the related lease as an adjustment to rental income. For below market lease values, the amortization period includes any renewal periods with fixed rate renewals. The acquired above market ground lease is amortized on a straight-line basis as an adjustment to property operating expense over the term of the lease and includes renewal periods. The portion of the purchase price allocated to acquired in place lease value is amortized on a straight-line basis over the acquired leases’ weighted average remaining term. As of September 30, 2017, no amount has been allocated to customer relationship value. Amortization pertaining to acquired in place lease value, above market ground lease, above market lease value and below market lease value is summarized below: Three Months Ended September 30, Nine Months Ended September 30, Amortization recorded as amortization expense: 2017 2016 2017 2016 Acquired in place lease value $ 5,640 $ 5,455 $ 16,508 $ 18,430 Amortization recorded as a reduction to property operating expense: Above market ground lease $ (23 ) $ (23 ) $ (70 ) $ (70 ) Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (1,212 ) $ (997 ) $ (3,304 ) $ (3,368 ) Acquired below market leases 1,187 1,322 4,303 3,835 Net rental income increase $ (25 ) $ 325 $ 999 $ 467 Estimated amortization of the respective intangible lease assets and liabilities as of September 30, 2017 for each of the five succeeding years and thereafter is as follows: Acquired In-Place Leases Above Market Leases Below Market Leases Above Market Ground Lease 2017 (remainder of year) $ 5,028 $ 1,075 $ (1,159 ) $ (23 ) 2018 19,024 3,794 (4,489 ) (94 ) 2019 17,050 3,430 (4,344 ) (94 ) 2020 14,098 3,091 (4,123 ) (94 ) 2021 11,559 3,021 (3,935 ) (94 ) Thereafter 43,487 21,023 (40,658 ) (4,583 ) Total $ 110,246 $ 35,434 $ (58,708 ) $ (4,982 )

Debt and Derivative Instruments

Debt and Derivative Instruments	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt and Derivative Instruments	NOTE 7 – DEBT AND DERIVATIVE INSTRUMENTS As of September 30, 2017 and December 31, 2016, the Company had the following mortgages and credit facility payable: September 30, 2017 December 31, 2016 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 178,181 4.31 % $ 178,345 4.31 % Variable rate mortgages payable with swap agreements 383,517 3.49 % 354,488 3.42 % Variable rate mortgages payable 54,153 3.03 % 44,003 2.50 % Mortgages payable $ 615,851 3.69 % $ 576,836 3.62 % Credit facility payable 67,300 2.94 % 31,000 2.26 % Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps $ 683,151 3.61 % $ 607,836 3.55 % Add: Unamortized mortgage premiums 2,481 3,080 Less: Unamortized debt issuance costs (4,468 ) (4,891 ) Total debt $ 681,164 $ 606,025 The Company estimates the fair value of its total debt by discounting the future cash flows of each instrument at rates currently offered for similar debt instruments of comparable maturities by the Company’s lenders using Level 3 inputs. The carrying value of the Company’s debt excluding mortgage premium and unamortized debt issuance costs was $683,151 and $607,836 as of September 30, 2017 and December 31, 2016, respectively, and its estimated fair value was $672,788 and $595,404 as of September 30, 2017 and December 31, 2016, respectively. As of September 30, 2017, scheduled principal payments and maturities on the Company’s debt were as follows: September 30, 2017 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2017 (remainder of the year) $ 75 $ 6,271 $ — $ 6,346 2018 205 15,260 — 15,465 2019 215 152,450 67,300 219,965 2020 897 — — 897 2021 1,531 82,740 — 84,271 Thereafter 1,577 354,630 — 356,207 Total $ 4,500 $ 611,351 $ 67,300 $ 683,151 Credit Facility Payable The Company’s Credit Facility in the amount of $110,000 has an accordion feature that allows for an increase in available borrowings up to $400,000, one At September 30, 2017, the interest rate on the Credit Facility was 2.94%. As of September 30, 2017, the Company had $42,700 available for borrowing under the Credit Facility. The Credit Facility requires compliance with certain covenants, as amended, including a minimum tangible net worth requirement, a distribution limitation, restrictions on indebtedness and investment restrictions, as defined. It also contains customary default provisions including the failure to comply with the Company's covenants and the failure to pay when amounts outstanding under the Credit Facility become due. The Company is in compliance with all financial covenants related to the Credit Facility. Mortgages Payable The mortgage loans require compliance with certain covenants, such as debt service ratios, investment restrictions and distribution limitations. As of September 30, 2017, the Company was current on all of the payments and in compliance with all financial covenants. All of the Company’s mortgage loans are secured by first mortgages on the respective real estate assets. As of September 30, 2017, the weighted average years to maturity for the Company’s mortgages payable was approximately 4.7 years. Interest Rate Swap Agreements The Company entered into interest rate swaps to fix certain of its floating LIBOR based debt under variable rate loans to a fixed rate to manage its risk exposure to interest rate fluctuations. The Company will generally match the maturity of the underlying variable rate debt with the maturity date on the interest swap. The following table summarizes the Company’s interest rate swap contracts outstanding as of September 30, 2017. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value at September 30, 2017 Assets April 7, 2015 April 7, 2015 April 7, 2022 1.74 % $ 49,400 $ 235 July 8, 2015 August 1, 2015 May 22, 2019 1.43 % 1,426 3 October 2, 2015 November 1, 2015 November 1, 2022 1.79 % 13,100 66 January 25, 2016 February 1, 2016 February 1, 2021 1.40 % 38,000 446 June 7, 2016 July 1, 2016 July 1, 2023 1.42 % 43,680 1,238 July 21, 2016 August 1, 2016 August 1, 2023 1.30 % 47,550 1,716 August 29, 2016 October 21, 2016 December 15, 2019 1.07 % 10,837 137 $ 203,993 $ 3,841 Liabilities June 27, 2014 July 1, 2014 July 1, 2019 1.85 % $ 24,352 $ (109 ) July 31, 2014 July 31, 2014 July 31, 2019 1.94 % 9,561 (59 ) September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 (7 ) March 28, 2014 March 1, 2015 March 28, 2019 2.22 % 5,525 (54 ) February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 (45 ) May 23, 2014 May 1, 2015 May 22, 2019 2.00 % 8,484 (59 ) May 8, 2014 May 5, 2015 May 5, 2019 2.10 % 14,200 (119 ) June 6, 2014 June 1, 2015 May 8, 2019 2.15 % 11,684 (108 ) June 26, 2014 July 5, 2015 July 5, 2019 2.11 % 20,725 (188 ) April 27, 2017 April 26, 2017 April 26, 2022 1.91 % 24,479 (38 ) June 5, 2017 May 31, 2017 May 15, 2022 1.90 % 14,700 (27 ) December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 (394 ) $ 179,524 $ (1,207 ) (a) Receive floating rate index based upon 1 month LIBOR. At September 30, 2017, the 1 month LIBOR was 1.23%. The table below presents the fair value of the Company’s cash flow hedges as well as their classification on the consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. September 30, 2017 December 31, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedges: Interest rate swap agreements Other assets $ 3,841 Other assets $ 4,250 Interest rate swap agreements Other $ 1,207 Other $ 1,909 For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the unrealized gain or loss on the derivative is reported as a component of comprehensive (loss) income. The ineffective portion of the change in fair value, if any, is recognized directly in earnings. The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2017 and 2016. Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Effective portion of derivatives $ (268 ) $ 519 $ (1,721 ) $ (10,384 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ 507 $ 1,077 $ 2,002 $ 3,039 Ineffective portion of derivatives $ (1 ) $ 38 $ 12 $ 215 The amount that is expected to be reclassified from accumulated other comprehensive income into income in the next twelve months is approximately $1,053.

Distributions

Distributions	9 Months Ended
	Sep. 30, 2017
Distributions [Abstract]
Distributions	NOTE 8 – DISTRIBUTIONS The Company currently pays distributions based on daily record dates, payable in arrears the following month, equal to a daily amount of $0.001643836 per share, which equates to $0.60 per share per year, based upon a 365-day year. The table below presents the distributions paid and declared during the three and nine months ended September 30, 2017 and 2016. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Distributions paid $ 13,482 $ 13,207 $ 39,989 $ 39,235 Distributions declared $ 13,484 $ 13,227 $ 39,896 $ 39,156

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings (Loss) per Share	NOTE 9 – EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share (“EPS”) are computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period (the “common shares”). Diluted EPS is computed by dividing net income (loss) by the common shares plus common share equivalents. The Company excludes antidilutive restricted shares and units from the calculation of weighted-average shares for diluted EPS.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 10 – COMMITMENTS AND CONTINGENCIES The acquisition of certain of the Company’s properties included an earnout component to the purchase price that was recorded as a deferred investment property acquisition obligation (“Earnout liability”). The maximum potential earnout payment was $7,536 at September 30, 2017. The table below presents the change in the Company’s Earnout liability for the nine months ended September 30, 2017 and 2016. Nine Months Ended September 30, 2017 2016 Earnout liability-beginning of period $ 6,856 $ 18,871 Increases: Amortization expense 28 551 Decreases: Earnout payments (6,415 ) (9,067 ) Adjustments to acquisition related costs 1,084 (1,413 ) Earnout liability – end of period $ 1,553 $ 8,942 The Company may be subject, from time to time, to various legal proceedings and claims that arise in the ordinary course of business. While the resolution of these matters cannot be predicted with certainty, management believes, based on currently available information, that the final outcome of such matters will not have a material adverse effect on the consolidated financial statements of the Company. In conjunction with its equity investment in the Mainstreet JV, the Company also agreed to provide subsidiaries of the Mainstreet JV mezzanine loans, in the aggregate amount of approximately $5,400. The loan term is for 48 months. The Company will earn interest at a rate of 14.5% per annum and will receive monthly interest payments based on a 10% pay rate. The remaining unpaid interest will be due at maturity or upon certain defined events. The loan is guaranteed by one of the other members of the joint venture. The borrowers may draw on the mezzanine loans from time to time in connection with the construction of the rapid recovery healthcare facilities and are not expected to draw on the mezzanine loans until such time as the Company has fully funded its equity commitment to the Mainstreet JV. At September 30, 2017, the Company has not loaned any funds related to the mezzanine loans.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	NOTE 11 – EQUITY-BASED COMPENSATION Under the Company’s Employee and Director Restricted Share Plan (“RSP”), restricted shares and restricted share units generally vest over a one to three year vesting period from the date of the grant, subject to the specific terms of the grant. In accordance with the RSP, restricted shares and restricted share units were issued to non-employee directors as compensation. Each restricted share and restricted share unit entitle the holder to receive one common share when it vests. Restricted shares and restricted units are included in common stock outstanding on the date of vesting. A summary table of the status of the restricted shares and restricted share units is presented below: Restricted Shares Restricted Share Units Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Outstanding at December 31, 2016 3,326 1,150 $ 40 $ 40 Granted 3,315 1,184 41 41 Vested (1,109 ) (389 ) (13 ) (13 ) Converted — — — — Forfeited — — — — Outstanding at September 30, 2017 5,532 1,945 $ 68 $ 68

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	NOTE 12 – SEGMENT REPORTING The Company has one reportable segment as defined by U.S. GAAP, retail real estate, for the nine months ended September 30, 2017 and 2016.

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Transactions With Related Parties	NOTE 13 – TRANSACTIONS WITH RELATED PARTIES The Captive is owned by the Company, IRC Retail Centers LLC, InvenTrust Properties Corp. and Retail Properties of America, Inc. The Company recorded its investment in investment in unconsolidated entities in the accompanying consolidated balance sheets. The Company’s share of net income from its investment is based on the ratio of each member’s premium contribution to the venture. For the nine months ended September 30, 2017, the Company received its original capital investment of $100 and earnings of $20 from the Captive. The Captive was in the final stages of winding up its affairs and terminated its operations in the fourth quarter of 2017 after all regulatory reports were filed. However, there can be no assurance the Company will not be liable for any additional proportional costs associated with the termination of the Captive which have not been previously identified. The Company owns 1,000 shares of common stock in The Inland Real Estate Group of Companies, Inc. with a recorded value of $1 at September 30, 2017 and December 31, 2016. This amount is included in other assets in the accompanying consolidated balance sheets. The following table summarizes the Company’s related party transactions for the three and nine months ended September 30, 2017 and 2016. Certain compensation and fees payable to the Business Manager for services provided to the Company are limited to maximum amounts. Three Months Ended September 30, Nine Months Ended September 30, Unpaid amounts as of 2017 2016 2017 2016 September 30, 2017 December 31, 2016 General and administrative reimbursements (a) $ 345 $ 633 $ 1,319 $ 1,406 $ 553 $ 274 Acquisition related costs $ 54 $ 49 $ 273 $ 251 $ 8 $ 88 Acquisition fees 180 — 1,216 1,327 179 — Total acquisition costs and fees (b) $ 234 $ 49 $ 1,489 $ 1,578 $ 187 $ 88 Real estate management fees $ 1,178 $ 1,179 $ 3,638 $ 3,355 $ — $ — Construction management fees 45 46 98 78 62 53 Leasing fees 51 65 143 144 101 89 Total real estate management related costs (c) $ 1,274 $ 1,290 $ 3,879 $ 3,577 $ 163 $ 142 Business management fees (d) $ 2,311 $ 2,190 $ 6,871 $ 6,421 $ 2,311 $ 2,159 (a) The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses incurred by the Business Manager or its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (b) The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired. The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. Of the $234 related party acquisition costs and fees incurred during the three months ended September 30, 2017, $98 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets. $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets and $52 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Of the $1,489 related party acquisition costs incurred during the nine months ended September 30, 2017, $1,260 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets, $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets, and $145 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (c) For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”), the Company pays a monthly real estate management fee of up to 1.9% of the gross income from any single-tenant, net-leased property, and up to 3.9% of the gross income from any other property type. The Real Estate Manager determines, in its sole discretion, the amount of the fee with respect to a particular property, subject to the limitations. For each property that is managed directly by the Real Estate Manager or its affiliates, the Company pays the Real Estate Manager a separate leasing fee. Further, in the event that the Company engages its Real Estate Manager to provide construction management services for a property, the Company pays a separate construction management fee. Leasing fees are included in deferred costs, net and construction management fees are included in building and other improvements in the accompanying consolidated balance sheets. The Company also reimburses the Real Estate Manager and its affiliates for property-level expenses that they pay or incur on the Company’s behalf, including the salaries, bonuses and benefits of persons performing services for the Real Estate Manager and its affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of the Real Estate Manager or the Company. Real estate management fees and reimbursable expenses are included in property operating expenses in the accompanying consolidated statements of operations and comprehensive loss. (d) The Company pays the Business Manager an annual business management fee equal to 0.65% of its “average invested assets.” The fee is payable quarterly in an amount equal to 0.1625% of its average invested assets as of the last day of the immediately preceding quarter. “Average invested assets” means, for any period, the average of the aggregate book value of the Company’s assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter.

Operating Leases

Operating Leases	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Operating Leases	NOTE 14 – OPERATING LEASES Minimum lease payments to be received under operating leases, including ground leases, as of September 30, 2017 for the years indicated, assuming no expiring leases are renewed, are as follows: Minimum Lease Payments 2017 (remainder of year) $ 23,284 2018 90,494 2019 83,513 2020 76,785 2021 71,135 Thereafter 294,128 Total $ 639,339 The remaining lease terms range from less than 1 year to 20 years. Most of the revenue from the Company’s properties consists of rents received under long-term operating leases. Most leases require the tenant to pay fixed base rent paid monthly in advance, and to reimburse the Company for the tenant’s pro rata share of certain operating expenses including real estate taxes, special assessments, insurance, utilities, common area maintenance, management fees, and certain building repairs paid by the Company and recoverable under the terms of the lease. Under these leases, the Company pays all expenses and is reimbursed by the tenant for the tenant’s pro rata share of recoverable expenses paid. Certain other tenants are subject to net leases which provide that the tenant is responsible for fixed base rent as well as all costs and expenses associated with occupancy. Under net leases where all costs and expenses are paid directly by the tenant rather than the landlord, the costs and expenses are not included in the consolidated statements of operations and comprehensive loss. Under leases where all costs and expenses are paid by the Company, subject to reimbursement by the tenant, the costs and expenses are included within property operating expenses and reimbursements are included in tenant recovery income on the consolidated statements of operations and comprehensive loss.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	NOTE 15 – SUBSEQUENT EVENTS Distributions The Company’s board of directors declared monthly distributions payable to stockholders of record each day beginning on the close of business on October 1, 2017 through the close of business on December 31, 2017. Through that date, distributions were declared in a daily amount equal to $0.001643836 per share, which equates to $0.60 per share per year, based upon a 365-day year. Distributions were paid monthly in arrears as follows: Distribution Month Month Distribution Paid Gross of Distribution Paid Distribution Reinvested through DRP Shares Issued Net Cash Distribution September 2017 October 2017 $ 4,395 $ 2,194 242,510 $ 2,201 October 2017 November 2017 $ 4,544 $ 2,266 250,374 $ 2,278

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
General	General The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. In the opinion of management, all adjustments necessary for a fair statement, in all material respects, of the financial position and results of operations for the periods are presented. Actual results could differ from those estimates. The results of operations for the interim periods are not necessarily indicative of the results for the entire year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities. • expands hedge accounting for nonfinancial and financial risk components and amends measurement methodologies to more closely align hedge accounting with a company’s risk management activities; • decreases the complexity of preparing hedge results through eliminating separate measurement and reporting of hedge ineffectiveness; • enhances disclosures and changes presentation of hedge results to align the effects of the hedging instrument and the hedged item; • simplifies the assessment of hedge effectiveness. The amendment is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted in any interim period after issuance of the update. For cash flow and net investment hedges existing at the date of adoption, an entity should apply a cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year that an entity adopts the amendments in this update. The amended presentation and disclosure guidance is required only prospectively. The Company does not believe the adoption of ASU No. 2017-12 will have a material impact on its consolidated financial statements and related disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. will require that amounts described as restricted cash and restricted cash equivalents be included in beginning and ending-of-period reconciliation of cash shown on the statement of cash flows. The amendment is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230). In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU No. 2016-02 supersedes the previous leases standard, Leases The Company anticipates that it will be required to bifurcate certain lease revenues between lease and non-lease components. Additionally, only incremental direct leasing costs may be capitalized under this new guidance, which is consistent with the Company’s existing policies. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company expects to adopt the guidance on a modified retrospective basis and upon adoption of the Leases guidance, non-lease components of new, extended or modified leases, including common area maintenance reimbursements, will be accounted for under the Revenue from Contracts with Customers guidance as described below. The Company is also the lessee under a ground lease, which it will be required to recognize right of use asset and a related lease liability on its consolidated balance sheets upon adoption. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, although it will not affect the accounting for rental related revenues. The new standard may be applied retrospectively to each prior period presented or prospectively with the cumulative effect, if any, recognized as of the date of adoption. The Company anticipates selecting the modified retrospective transition method with a cumulative effect recognized as of the date of adoption and will adopt the new standard effective January 1, 2018, when effective. While the Company anticipates additional disclosure, it does not expect the adoption of this pronouncement will have a material effect on its consolidated financial statements as it believes the majority of its revenue falls outside of the scope of this guidance; however, it will continue to evaluate this assessment until the guidance becomes effective. Our remaining implementation items include calculating the cumulative effect adjustment, if any, to be recorded upon adoption, drafting revised disclosures in accordance with the new standard and implementing changes to internal control policies and procedures, if any. Common area maintenance reimbursements to be impacted by ASU No. 2014-09 will not be addressed until the Company's adoption of ASU No. 2016-02, considering its revisions to accounting for common area maintenance described above

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Business Acquisition [Line Items]
Schedule of Major Assets Acquired and Liabilities Assumed	The following table presents certain additional information regarding the Company’s acquisitions during the nine months ended September 30, 2017. The amounts recognized for major assets acquired and liabilities assumed as of the acquisition date are as follows: Nine Months Ended September 30, 2017 Land $ 17,513 Building and improvements 41,793 Acquired lease intangible assets 15,385 Acquired intangible liabilities (4,590 ) Assumed liabilities, net (148 ) Total $ 69,953
2017 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule of Acquisitions	2017 Acquisitions During the nine months ended September 30, 2017, the Company, through its wholly owned subsidiaries, acquired the properties listed below from unaffiliated third parties. The acquisitions were financed with proceeds from the Company’s credit facility (the “Credit Facility”). Date Acquired Property Name Location Property Type Square Footage Purchase Price (a) 1st Quarter 1/27/2017 Wilson Marketplace Wilson, NC Multi-Tenant Retail 311,030 $ 40,783 2nd Quarter 4/3/2017 Pentucket Shopping Center Plaistow, NH Multi-Tenant Retail 198,469 24,100 3rd Quarter 7/14/2017 Coastal North Town Center - Phase II Myrtle Beach, SC Retail 6,588 3,716 516,087 $ 68,599 (a) Contractual purchase price excluding closing credits.

Investment in Unconsolidated 24

Investment in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2017
Equity Method Investments And Joint Ventures [Abstract]
Schedule of Joint Ventures	The following table summarizes the Company’s joint ventures: Investment in unconsolidated entities Entity Company's Profit/Loss Allocation at September 30, 2017 Remaining Commitment September 30, 2017 December 31, 2016 Mainstreet Texas Development Fund, LLC (“Mainstreet JV”) (a) 83 % $ 2,931 $ 5,685 $ — Oak Property Casualty, LLC ("Captive") (b) n/a $ — — 126 $ 5,685 $ 126 (a) In August 2017, the Company, through a wholly owned taxable REIT subsidiary, made an equity commitment to Mainstreet JV in order to develop, construct, lease, finance and sell parcels of land and related building improvements including personal property which are to be operated as rapid recovery healthcare facilities located in Beaumont, Amarillo and Temple, Texas. The investment balance includes capitalized acquisition and legal costs of $116 incurred. (b) The Company is a member of a limited liability company formed as an insurance association captive, which is owned by the Company, IRC Retail Centers LLC, InvenTrust Properties Corp. and Retail Properties of America, Inc. See Note 13 – “Transactions with Related Parties.”

Acquired Intangible Assets an25

Acquired Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities	The following table summarizes the Company’s identified intangible assets and liabilities as of September 30, 2017 and December 31, 2016: September 30, 2017 December 31, 2016 Intangible assets: Acquired in place lease value $ 166,419 $ 159,679 Acquired above market lease value 45,824 37,179 Accumulated amortization (66,563 ) (46,750 ) Acquired lease intangibles, net $ 145,680 $ 150,108 Intangible liabilities: Acquired below market lease value $ 71,551 $ 66,962 Above market ground lease 5,169 5,169 Accumulated amortization (13,030 ) (8,657 ) Acquired intangible liabilities, net $ 63,690 $ 63,474
Schedule of Amortization of Acquired In Place Lease Value, Above Market Ground Lease, Above and Below Market Lease Values	Amortization pertaining to acquired in place lease value, above market ground lease, above market lease value and below market lease value is summarized below: Three Months Ended September 30, Nine Months Ended September 30, Amortization recorded as amortization expense: 2017 2016 2017 2016 Acquired in place lease value $ 5,640 $ 5,455 $ 16,508 $ 18,430 Amortization recorded as a reduction to property operating expense: Above market ground lease $ (23 ) $ (23 ) $ (70 ) $ (70 ) Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (1,212 ) $ (997 ) $ (3,304 ) $ (3,368 ) Acquired below market leases 1,187 1,322 4,303 3,835 Net rental income increase $ (25 ) $ 325 $ 999 $ 467
Schedule of Estimated Amortization of Intangible Lease Assets and Liabilities	Estimated amortization of the respective intangible lease assets and liabilities as of September 30, 2017 for each of the five succeeding years and thereafter is as follows: Acquired In-Place Leases Above Market Leases Below Market Leases Above Market Ground Lease 2017 (remainder of year) $ 5,028 $ 1,075 $ (1,159 ) $ (23 ) 2018 19,024 3,794 (4,489 ) (94 ) 2019 17,050 3,430 (4,344 ) (94 ) 2020 14,098 3,091 (4,123 ) (94 ) 2021 11,559 3,021 (3,935 ) (94 ) Thereafter 43,487 21,023 (40,658 ) (4,583 ) Total $ 110,246 $ 35,434 $ (58,708 ) $ (4,982 )

Debt and Derivative Instrumen26

Debt and Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Mortgages and Credit Facilities Payable	As of September 30, 2017 and December 31, 2016, the Company had the following mortgages and credit facility payable: September 30, 2017 December 31, 2016 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 178,181 4.31 % $ 178,345 4.31 % Variable rate mortgages payable with swap agreements 383,517 3.49 % 354,488 3.42 % Variable rate mortgages payable 54,153 3.03 % 44,003 2.50 % Mortgages payable $ 615,851 3.69 % $ 576,836 3.62 % Credit facility payable 67,300 2.94 % 31,000 2.26 % Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps $ 683,151 3.61 % $ 607,836 3.55 % Add: Unamortized mortgage premiums 2,481 3,080 Less: Unamortized debt issuance costs (4,468 ) (4,891 ) Total debt $ 681,164 $ 606,025
Schedule of Principal Payments and Maturities of Company's Debt	As of September 30, 2017, scheduled principal payments and maturities on the Company’s debt were as follows: September 30, 2017 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2017 (remainder of the year) $ 75 $ 6,271 $ — $ 6,346 2018 205 15,260 — 15,465 2019 215 152,450 67,300 219,965 2020 897 — — 897 2021 1,531 82,740 — 84,271 Thereafter 1,577 354,630 — 356,207 Total $ 4,500 $ 611,351 $ 67,300 $ 683,151
Summary of Interest Rate Swap Contracts Outstanding	The following table summarizes the Company’s interest rate swap contracts outstanding as of September 30, 2017. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value at September 30, 2017 Assets April 7, 2015 April 7, 2015 April 7, 2022 1.74 % $ 49,400 $ 235 July 8, 2015 August 1, 2015 May 22, 2019 1.43 % 1,426 3 October 2, 2015 November 1, 2015 November 1, 2022 1.79 % 13,100 66 January 25, 2016 February 1, 2016 February 1, 2021 1.40 % 38,000 446 June 7, 2016 July 1, 2016 July 1, 2023 1.42 % 43,680 1,238 July 21, 2016 August 1, 2016 August 1, 2023 1.30 % 47,550 1,716 August 29, 2016 October 21, 2016 December 15, 2019 1.07 % 10,837 137 $ 203,993 $ 3,841 Liabilities June 27, 2014 July 1, 2014 July 1, 2019 1.85 % $ 24,352 $ (109 ) July 31, 2014 July 31, 2014 July 31, 2019 1.94 % 9,561 (59 ) September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 (7 ) March 28, 2014 March 1, 2015 March 28, 2019 2.22 % 5,525 (54 ) February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 (45 ) May 23, 2014 May 1, 2015 May 22, 2019 2.00 % 8,484 (59 ) May 8, 2014 May 5, 2015 May 5, 2019 2.10 % 14,200 (119 ) June 6, 2014 June 1, 2015 May 8, 2019 2.15 % 11,684 (108 ) June 26, 2014 July 5, 2015 July 5, 2019 2.11 % 20,725 (188 ) April 27, 2017 April 26, 2017 April 26, 2022 1.91 % 24,479 (38 ) June 5, 2017 May 31, 2017 May 15, 2022 1.90 % 14,700 (27 ) December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 (394 ) $ 179,524 $ (1,207 ) (a) Receive floating rate index based upon 1 month LIBOR. At September 30, 2017, the 1 month LIBOR was 1.23%.
Schedule of Cash Flow Hedges and Classification on Consolidated Balance Sheets	The table below presents the fair value of the Company’s cash flow hedges as well as their classification on the consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. September 30, 2017 December 31, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as cash flow hedges: Interest rate swap agreements Other assets $ 3,841 Other assets $ 4,250 Interest rate swap agreements Other $ 1,207 Other $ 1,909
Schedule of Derivative Financial Instruments on Consolidated Statements of Operations and Other Comprehensive Loss	The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2017 and 2016. Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2017 2016 2017 2016 Effective portion of derivatives $ (268 ) $ 519 $ (1,721 ) $ (10,384 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ 507 $ 1,077 $ 2,002 $ 3,039 Ineffective portion of derivatives $ (1 ) $ 38 $ 12 $ 215

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 30, 2017
Distributions [Abstract]
Schedule of Distributions Paid and Declared	The table below presents the distributions paid and declared during the three and nine months ended September 30, 2017 and 2016. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Distributions paid $ 13,482 $ 13,207 $ 39,989 $ 39,235 Distributions declared $ 13,484 $ 13,227 $ 39,896 $ 39,156

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Schedule of Change in Earnout Liability for Acquisition of Certain Properties	The table below presents the change in the Company’s Earnout liability for the nine months ended September 30, 2017 and 2016. Nine Months Ended September 30, 2017 2016 Earnout liability-beginning of period $ 6,856 $ 18,871 Increases: Amortization expense 28 551 Decreases: Earnout payments (6,415 ) (9,067 ) Adjustments to acquisition related costs 1,084 (1,413 ) Earnout liability – end of period $ 1,553 $ 8,942

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Restricted Shares and Restricted Share Units	A summary table of the status of the restricted shares and restricted share units is presented below: Restricted Shares Restricted Share Units Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Outstanding at December 31, 2016 3,326 1,150 $ 40 $ 40 Granted 3,315 1,184 41 41 Vested (1,109 ) (389 ) (13 ) (13 ) Converted — — — — Forfeited — — — — Outstanding at September 30, 2017 5,532 1,945 $ 68 $ 68

Transactions with Related Par30

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the Company’s related party transactions for the three and nine months ended September 30, 2017 and 2016. Certain compensation and fees payable to the Business Manager for services provided to the Company are limited to maximum amounts. Three Months Ended September 30, Nine Months Ended September 30, Unpaid amounts as of 2017 2016 2017 2016 September 30, 2017 December 31, 2016 General and administrative reimbursements (a) $ 345 $ 633 $ 1,319 $ 1,406 $ 553 $ 274 Acquisition related costs $ 54 $ 49 $ 273 $ 251 $ 8 $ 88 Acquisition fees 180 — 1,216 1,327 179 — Total acquisition costs and fees (b) $ 234 $ 49 $ 1,489 $ 1,578 $ 187 $ 88 Real estate management fees $ 1,178 $ 1,179 $ 3,638 $ 3,355 $ — $ — Construction management fees 45 46 98 78 62 53 Leasing fees 51 65 143 144 101 89 Total real estate management related costs (c) $ 1,274 $ 1,290 $ 3,879 $ 3,577 $ 163 $ 142 Business management fees (d) $ 2,311 $ 2,190 $ 6,871 $ 6,421 $ 2,311 $ 2,159 (a) The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses incurred by the Business Manager or its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (b) The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired. The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. Of the $234 related party acquisition costs and fees incurred during the three months ended September 30, 2017, $98 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets. $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets and $52 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Of the $1,489 related party acquisition costs incurred during the nine months ended September 30, 2017, $1,260 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets, $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets, and $145 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets. (c) For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”), the Company pays a monthly real estate management fee of up to 1.9% of the gross income from any single-tenant, net-leased property, and up to 3.9% of the gross income from any other property type. The Real Estate Manager determines, in its sole discretion, the amount of the fee with respect to a particular property, subject to the limitations. For each property that is managed directly by the Real Estate Manager or its affiliates, the Company pays the Real Estate Manager a separate leasing fee. Further, in the event that the Company engages its Real Estate Manager to provide construction management services for a property, the Company pays a separate construction management fee. Leasing fees are included in deferred costs, net and construction management fees are included in building and other improvements in the accompanying consolidated balance sheets. The Company also reimburses the Real Estate Manager and its affiliates for property-level expenses that they pay or incur on the Company’s behalf, including the salaries, bonuses and benefits of persons performing services for the Real Estate Manager and its affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of the Real Estate Manager or the Company. Real estate management fees and reimbursable expenses are included in property operating expenses in the accompanying consolidated statements of operations and comprehensive loss. (d) The Company pays the Business Manager an annual business management fee equal to 0.65% of its “average invested assets.” The fee is payable quarterly in an amount equal to 0.1625% of its average invested assets as of the last day of the immediately preceding quarter. “Average invested assets” means, for any period, the average of the aggregate book value of the Company’s assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter.

Operating Leases (Tables)

Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Schedule of Future Minimum Lease Payments to be Received Under Operating Leases	Minimum lease payments to be received under operating leases, including ground leases, as of September 30, 2017 for the years indicated, assuming no expiring leases are renewed, are as follows: Minimum Lease Payments 2017 (remainder of year) $ 23,284 2018 90,494 2019 83,513 2020 76,785 2021 71,135 Thereafter 294,128 Total $ 639,339

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Schedule of Dividend Distributions	Distribution Month Month Distribution Paid Gross of Distribution Paid Distribution Reinvested through DRP Shares Issued Net Cash Distribution September 2017 October 2017 $ 4,395 $ 2,194 242,510 $ 2,201 October 2017 November 2017 $ 4,544 $ 2,266 250,374 $ 2,278

Organization (Narrative) (Detai

Organization (Narrative) (Details)	Sep. 30, 2017ft²PropertyState
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of retail properties owned | Property	59
Square footage of real estate properties owned | ft²	6,860,923
Number of states in which company owns real estate properties | State	24
Weighted average physical occupancy rate of property portfolio	93.90%
Weighted average economic occupancy rate of property portfolio	94.90%

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Assets [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Restricted cash	$ 5,118	$ 5,996

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($)	1 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Mar. 30, 2017	Mar. 29, 2017	Dec. 31, 2016	Apr. 07, 2016
Equity [Line Items]
Common stock, shares authorized	1,460,000,000	1,460,000,000					1,460,000,000
Common stock shares issued excluding DRP	83,835,055	83,835,055
Proceeds from issuance of common stock excluding DRP		$ 834,399
Common stock, shares outstanding	88,919,975	88,919,975					88,155,707
Distribution reinvestment plan, shares		8,102,860
Shares repurchased through the share repurchase program		3,019,049
Estimated net asset value per share						$ 9.05		$ 9.02
Distribution reinvested	$ 2,194,000	$ 20,415,000
Stock repurchase program, amount		13,085,000	$ 7,057,000
Other liabilities	$ 11,449,000	$ 11,449,000					$ 12,330,000
Repurchase of Shares Owned for One Year [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares	92.50%	92.50%
Repurchase of Shares Owned for Four Years [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares	100.00%	100.00%
Repurchase of Shares Owned upon Death and Qualifying Disability [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares	100.00%	100.00%
SRP [Member]
Equity [Line Items]
Estimated net asset value per share	$ 9.05	$ 9.05
Other liabilities				$ 1,850,000			$ 1,448,000
Minimum [Member]
Equity [Line Items]
Stock repurchase program, to be held		1 year
Maximum [Member]
Equity [Line Items]
Stock repurchase program shares issued in percentage		5.00%
DRP [Member]
Equity [Line Items]
Price of each common share								$ 9.50
Estimated net asset value per share					$ 9.02
Reinvestments In Common Stock		$ 9.05
Distribution reinvested		$ 20,415,000	$ 20,920,000
IPO [Member]
Equity [Line Items]
Common stock, shares authorized	150,000,000	150,000,000
Price of each common share	$ 10	$ 10

Acquisitions (Purchased Propert

Acquisitions (Purchased Properties from Unaffiliated Third Parties) (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2017USD ($)ft²	Jul. 14, 2017USD ($)ft²	Apr. 03, 2017USD ($)ft²	Jan. 27, 2017USD ($)ft²
Business Acquisition [Line Items]
Property acquisition, Square Footage | ft²		6,860,923
Property acquisition, Purchase Price | $		$ 69,953
Wilson Marketplace [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired		Jan. 27, 2017
Property Name		Wilson Marketplace
Property acquisition, Location		Wilson, NC
Property acquisition, Property Type		Multi-Tenant Retail
Property acquisition, Square Footage | ft²					311,030
Property acquisition, Purchase Price | $	[1]				$ 40,783
Pentucket Shopping Center [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired		Apr. 3, 2017
Property Name		Pentucket Shopping Center
Property acquisition, Location		Plaistow, NH
Property acquisition, Property Type		Multi-Tenant Retail
Property acquisition, Square Footage | ft²				198,469
Property acquisition, Purchase Price | $	[1]			$ 24,100
Wilson Marketplace, Pentucket Shopping Center and Coastal North Town Center Phase II [Member]
Business Acquisition [Line Items]
Property acquisition, Square Footage | ft²		516,087
Property acquisition, Purchase Price | $	[1]	$ 68,599
Coastal North Town Center Phase II [Member]
Business Acquisition [Line Items]
Property acquisition, Date Acquired		Jul. 14, 2017
Property Name		Coastal North Town Center - Phase II
Property acquisition, Location		Myrtle Beach, SC
Property acquisition, Property Type		Retail
Property acquisition, Square Footage | ft²			6,588
Property acquisition, Purchase Price | $	[1]		$ 3,716
[1]	Contractual purchase price excluding closing credits.

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Combinations [Abstract]
Acquisition cost and fees	$ 202		$ 2,721
Capitalized acquisition costs and fees in net investment properties	140		1,459
Acquisition related costs in adjustment to deferred investment property			1,084
Acquisition related costs including deferred investment property incurred during the period	62	$ (413)	1,262	$ 421
Acquisition and dead deal costs excluding deferred investment property incurred during the period	$ 62		$ 178

Acquisitions (Schedule of Major

Acquisitions (Schedule of Major Assets Acquired and Liabilities Assumed) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Business Combinations [Abstract]
Land	$ 17,513
Building and improvements	41,793
Acquired lease intangible assets	15,385
Acquired intangible liabilities	(4,590)
Assumed liabilities, net	(148)
Total	$ 69,953

Schedule of Joint Ventures (Det

Schedule of Joint Ventures (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Investment in unconsolidated entities		$ 5,685	$ 126
Mainstreet Texas Development Fund, LLC (“Mainstreet JV”) [Member]
Schedule Of Equity Method Investments [Line Items]
Company's Profit/Loss Allocation	[1]	83.00%
Remaining Commitment	[1]	$ 2,931
Investment in unconsolidated entities	[1]	$ 5,685
Oak Property Casualty, LLC ("Captive") [Member]
Schedule Of Equity Method Investments [Line Items]
Investment in unconsolidated entities	[2]		$ 126
[1]	In August 2017, the Company, through a wholly owned taxable REIT subsidiary, made an equity commitment to Mainstreet JV in order to develop, construct, lease, finance and sell parcels of land and related building improvements including personal property which are to be operated as rapid recovery healthcare facilities located in Beaumont, Amarillo and Temple, Texas. The investment balance includes capitalized acquisition and legal costs of $116 incurred.
[2]	The Company is a member of a limited liability company formed as an insurance association captive, which is owned by the Company, IRC Retail Centers LLC, InvenTrust Properties Corp. and Retail Properties of America, Inc. See Note 13 – “Transactions with Related Parties.”

Schedule of Joint Ventures (Par

Schedule of Joint Ventures (Parenthetical) (Details) $ in Thousands	Aug. 31, 2017USD ($)
Mainstreet Texas Development Fund, LLC (“Mainstreet JV”) [Member]
Schedule Of Equity Method Investments [Line Items]
Investment balance includes capitalized acquisition and legal costs	$ 116

Schedule of Intangible Assets a

Schedule of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Intangible assets:
Accumulated amortization	$ (66,563)	$ (46,750)
Acquired lease intangibles, net	145,680	150,108
Intangible liabilities:
Acquired below market lease value	71,551	66,962
Above market ground lease	5,169	5,169
Accumulated amortization	(13,030)	(8,657)
Acquired intangible liabilities, net	63,690	63,474
Acquired in-place lease value [Member]
Intangible assets:
Acquired intangible assets	166,419	159,679
Acquired lease intangibles, net	110,246
Acquired above market lease value [Member]
Intangible assets:
Acquired intangible assets	45,824	$ 37,179
Acquired lease intangibles, net	$ 35,434

Acquired Intangible Assets an42

Acquired Intangible Assets and Liabilities - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Acquired Finite Lived Intangible Assets [Line Items]
Allocation of amount	$ 145,680,000	$ 150,108,000
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	10 years
Allocation of amount	$ 110,246,000
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	14 years
Allocation of amount	$ 35,434,000
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	19 years
Acquired Above market ground lease [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	55 years
Customer Relationship [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Allocation of amount	$ 0

Schedule of Amortization Pertai

Schedule of Amortization Pertaining to Acquired in Place Lease Value, Above Market Ground Lease, Above Market Lease Value and Below Market Lease Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ (25)	$ 325	$ 999	$ 467
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as amortization expense	5,640	5,455	16,508	18,430
Above market ground lease [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a reduction to property operating expense	(23)	(23)	(70)	(70)
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	(1,212)	(997)	(3,304)	(3,368)
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 1,187	$ 1,322	$ 4,303	$ 3,835

Schedule of Estimated Amortizat

Schedule of Estimated Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Future amortization for acquired in-place and above market lease assets:
Acquired lease intangibles, net	$ 145,680	$ 150,108
Future amortization for below market lease liabilities:
2017 (remainder of year)	(1,159)
2,018	(4,489)
2,019	(4,344)
2,020	(4,123)
2,021	(3,935)
Thereafter	(40,658)
Total	(58,708)
Future amortization for above market ground lease liabilities:
2017 (remainder of year)	(23)
2,018	(94)
2,019	(94)
2,020	(94)
2,021	(94)
Thereafter	(4,583)
Total	(4,982)
Acquired in-place lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2017 (remainder of year)	5,028
2,018	19,024
2,019	17,050
2,020	14,098
2,021	11,559
Thereafter	43,487
Acquired lease intangibles, net	110,246
Acquired above market lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2017 (remainder of year)	1,075
2,018	3,794
2,019	3,430
2,020	3,091
2,021	3,021
Thereafter	21,023
Acquired lease intangibles, net	$ 35,434

Debt and Derivative Instrumen45

Debt and Derivative Instruments (Schedule of Mortgages and Credit Facility Payable) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 615,851	$ 576,836
Credit facility payable	67,300	31,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	683,151	607,836
Add: Unamortized mortgage premiums	2,481	3,080
Less: Unamortized debt issuance costs	(4,468)	(4,891)
Total debt	$ 681,164	$ 606,025
Mortgages Payable, Weighted Average Interest Rate	3.69%	3.62%
Credit Facilities Payable, Weighted Average Interest Rate	2.94%	2.26%
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps, Weighted Average Interest Rate	3.61%	3.55%
Fixed rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 178,181	$ 178,345
Mortgages Payable, Weighted Average Interest Rate	4.31%	4.31%
Variable rate mortgages payable with swap agreements [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 383,517	$ 354,488
Mortgages Payable, Weighted Average Interest Rate	3.49%	3.42%
Variable rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 54,153	$ 44,003
Mortgages Payable, Weighted Average Interest Rate	3.03%	2.50%

Debt and Derivative Instrumen46

Debt and Derivative Instruments (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Carrying value of debt	$ 683,151,000	$ 607,836,000
Estimated fair value of debt	672,788,000	$ 595,404,000
Amount expected to be reclassified from accumulated other comprehensive income into income in the next twelve months	$ 1,053,000
Mortgages Payable [Member]
Debt Instrument [Line Items]
Weighted Average Years to Maturity	4 years 8 months 13 days
Mortgages payable, covenant compliance	the Company was current on all of the payments and in compliance with all financial covenants.
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Carrying value of debt	$ 67,300,000
Credit facility, maximum borrowing capacity	110,000,000
Line of credit accordion feature to increase available borrowings	$ 400,000,000
Credit facility, maturity date	Sep. 30, 2019
Credit facility, interest rate	2.94%
Credit facility available for borrowing	$ 42,700,000

Debt and Derivative Instrumen47

Debt and Derivative Instruments (Schedule of Principal Payments and Maturities of Company's Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2017 (remainder of the year)	$ 6,346
2,018	15,465
2,019	219,965
2,020	897
2,021	84,271
Thereafter	356,207
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	683,151	$ 607,836
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
2,019	67,300
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	67,300
Scheduled Principal Payments [Member]
Debt Instrument [Line Items]
2017 (remainder of the year)	75
2,018	205
2,019	215
2,020	897
2,021	1,531
Thereafter	1,577
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	4,500
Maturities of Mortgage Loans [Member]
Debt Instrument [Line Items]
2017 (remainder of the year)	6,271
2,018	15,260
2,019	152,450
2,021	82,740
Thereafter	354,630
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	$ 611,351

Debt and Derivative Instrumen48

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Derivative [Line Items]
Derivative instrument, notional amount	$ 203,993
Fair value of derivative assets measured on recurring basis	3,841
Derivative instrument, notional amount	179,524
Fair value of derivative liabilities measured on recurring basis	$ (1,207)
Interest Rate Swap One [Member]
Derivative [Line Items]
Derivative instrument, date entered	Apr. 7, 2015
Derivative instrument, effective date	Apr. 7, 2015
Derivative instrument, maturity date	Apr. 7, 2022
Derivative instrument, pay fixed interest rate	1.74%	[1]
Derivative instrument, notional amount	$ 49,400
Fair value of derivative assets measured on recurring basis	$ 235
Interest Rate Swap Two [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jul. 8, 2015
Derivative instrument, effective date	Aug. 1, 2015
Derivative instrument, maturity date	May 22, 2019
Derivative instrument, pay fixed interest rate	1.43%	[1]
Derivative instrument, notional amount	$ 1,426
Fair value of derivative assets measured on recurring basis	$ 3
Interest Rate Swap Three [Member]
Derivative [Line Items]
Derivative instrument, date entered	Oct. 2, 2015
Derivative instrument, effective date	Nov. 1, 2015
Derivative instrument, maturity date	Nov. 1, 2022
Derivative instrument, pay fixed interest rate	1.79%	[1]
Derivative instrument, notional amount	$ 13,100
Fair value of derivative assets measured on recurring basis	$ 66
Interest Rate Swap Four [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jan. 25, 2016
Derivative instrument, effective date	Feb. 1, 2016
Derivative instrument, maturity date	Feb. 1, 2021
Derivative instrument, pay fixed interest rate	1.40%	[1]
Derivative instrument, notional amount	$ 38,000
Fair value of derivative assets measured on recurring basis	$ 446
Interest Rate Swap Five [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 7, 2016
Derivative instrument, effective date	Jul. 1, 2016
Derivative instrument, maturity date	Jul. 1, 2023
Derivative instrument, pay fixed interest rate	1.42%	[1]
Derivative instrument, notional amount	$ 43,680
Fair value of derivative assets measured on recurring basis	$ 1,238
Interest Rate Swap Six [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jul. 21, 2016
Derivative instrument, effective date	Aug. 1, 2016
Derivative instrument, maturity date	Aug. 1, 2023
Derivative instrument, pay fixed interest rate	1.30%	[1]
Derivative instrument, notional amount	$ 47,550
Fair value of derivative assets measured on recurring basis	$ 1,716
Interest Rate Swap Seven [Member]
Derivative [Line Items]
Derivative instrument, date entered	Aug. 29, 2016
Derivative instrument, effective date	Oct. 21, 2016
Derivative instrument, maturity date	Dec. 15, 2019
Derivative instrument, pay fixed interest rate	1.07%	[1]
Derivative instrument, notional amount	$ 10,837
Fair value of derivative assets measured on recurring basis	$ 137
Interest Rate Swap Eight [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 27, 2014
Derivative instrument, effective date	Jul. 1, 2014
Derivative instrument, maturity date	Jul. 1, 2019
Derivative instrument, pay fixed interest rate	1.85%	[1]
Derivative instrument, notional amount	$ 24,352
Fair value of derivative liabilities measured on recurring basis	$ (109)
Interest Rate Swap Nine [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jul. 31, 2014
Derivative instrument, effective date	Jul. 31, 2014
Derivative instrument, maturity date	Jul. 31, 2019
Derivative instrument, pay fixed interest rate	1.94%	[1]
Derivative instrument, notional amount	$ 9,561
Fair value of derivative liabilities measured on recurring basis	$ (59)
Interest Rate Swap Ten [Member]
Derivative [Line Items]
Derivative instrument, date entered	Sep. 17, 2015
Derivative instrument, effective date	Sep. 17, 2015
Derivative instrument, maturity date	Sep. 17, 2022
Derivative instrument, pay fixed interest rate	1.90%	[1]
Derivative instrument, notional amount	$ 13,700
Fair value of derivative liabilities measured on recurring basis	$ (7)
Interest Rate Swap Eleven [Member]
Derivative [Line Items]
Derivative instrument, date entered	Mar. 28, 2014
Derivative instrument, effective date	Mar. 1, 2015
Derivative instrument, maturity date	Mar. 28, 2019
Derivative instrument, pay fixed interest rate	2.22%	[1]
Derivative instrument, notional amount	$ 5,525
Fair value of derivative liabilities measured on recurring basis	$ (54)
Interest Rate Swap Twelve [Member]
Derivative [Line Items]
Derivative instrument, date entered	Feb. 11, 2015
Derivative instrument, effective date	Mar. 2, 2015
Derivative instrument, maturity date	Mar. 1, 2022
Derivative instrument, pay fixed interest rate	2.02%	[1]
Derivative instrument, notional amount	$ 6,114
Fair value of derivative liabilities measured on recurring basis	$ (45)
Interest Rate Swap Thirteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 23, 2014
Derivative instrument, effective date	May 1, 2015
Derivative instrument, maturity date	May 22, 2019
Derivative instrument, pay fixed interest rate	2.00%	[1]
Derivative instrument, notional amount	$ 8,484
Fair value of derivative liabilities measured on recurring basis	$ (59)
Interest Rate Swap Fourteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	May 8, 2014
Derivative instrument, effective date	May 5, 2015
Derivative instrument, maturity date	May 5, 2019
Derivative instrument, pay fixed interest rate	2.10%	[1]
Derivative instrument, notional amount	$ 14,200
Fair value of derivative liabilities measured on recurring basis	$ (119)
Interest Rate Swap Fifteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 6, 2014
Derivative instrument, effective date	Jun. 1, 2015
Derivative instrument, maturity date	May 8, 2019
Derivative instrument, pay fixed interest rate	2.15%	[1]
Derivative instrument, notional amount	$ 11,684
Fair value of derivative liabilities measured on recurring basis	$ (108)
Interest Rate Swap Sixteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 26, 2014
Derivative instrument, effective date	Jul. 5, 2015
Derivative instrument, maturity date	Jul. 5, 2019
Derivative instrument, pay fixed interest rate	2.11%	[1]
Derivative instrument, notional amount	$ 20,725
Fair value of derivative liabilities measured on recurring basis	$ (188)
Interest Rate Swap Seventeen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Apr. 27, 2017
Derivative instrument, effective date	Apr. 26, 2017
Derivative instrument, maturity date	Apr. 26, 2022
Derivative instrument, pay fixed interest rate	1.91%	[1]
Derivative instrument, notional amount	$ 24,479
Fair value of derivative liabilities measured on recurring basis	$ (38)
Interest Rate Swap Eighteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Jun. 5, 2017
Derivative instrument, effective date	May 31, 2017
Derivative instrument, maturity date	May 15, 2022
Derivative instrument, pay fixed interest rate	1.90%	[1]
Derivative instrument, notional amount	$ 14,700
Fair value of derivative liabilities measured on recurring basis	$ (27)
Interest Rate Swap Nineteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Dec. 23, 2015
Derivative instrument, effective date	Dec. 23, 2015
Derivative instrument, maturity date	Jan. 2, 2026
Derivative instrument, pay fixed interest rate	2.30%	[1]
Derivative instrument, notional amount	$ 26,000
Fair value of derivative liabilities measured on recurring basis	$ (394)
[1]	Receive floating rate index based upon 1 month LIBOR. At September 30, 2017, the 1 month LIBOR was 1.23%.

Debt and Derivative Instrumen49

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2017
Derivative [Line Items]
Derivative instrument, receive floating rate index	1 month LIBOR
LIBOR [Member]
Derivative [Line Items]
One month floating rate	1.23%

Debt and Derivative Instrumen50

Debt and Derivative Instruments (Schedule of Cash Flow Hedges and Classification on Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow hedges - interest rate swap agreements	$ 3,841	$ 4,250
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow hedges - interest rate swap agreements	$ 1,207	$ 1,909

Debt and Derivative Instrumen51

Debt and Derivative Instruments (Derivatives on Consolidated Statements of Operations and Other Comprehensive Loss) (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion of derivatives	$ (268)	$ 519	$ (1,721)	$ (10,384)
Reclassification adjustment for amounts included in net gain or loss (effective portion)	507	1,077	2,002	3,039
Ineffective portion of derivatives	$ (1)	$ 38	$ 12	$ 215

Distributions (Narrative) (Deta

Distributions (Narrative) (Details)	Sep. 30, 2017$ / shares
Distributions [Abstract]
Amount per share of distributions	$ 0.001643836
Annualized dividend per share	$ 0.60

Distributions (Schedule of Dist

Distributions (Schedule of Distributions Paid and Declared) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Distributions [Abstract]
Distributions paid		$ 13,482	$ 13,207	$ 39,989	$ 39,235
Distributions declared	$ 4,395	$ 13,484	$ 13,227	$ 39,896	$ 39,156

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Additional shares excluded from the computation of diluted earnings per share	2,087	565	2,751	2,669

Commitments and Contingencies55

Commitments and Contingencies (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Other Commitments [Line Items]
The maximum potential earnout payment for acquisitions made during period	$ 7,536,000
Mezzanine Loans [Member] | Mainstreet JV [Member]
Other Commitments [Line Items]
Aggregate amount committed to provide in joint venture loan agreement	$ 5,400,000
Term of joint venture loan agreement	48 months
Interest rate on joint venture loan amount	14.50%
Periodic interest receivable, pay rate	10.00%
Frequency of periodic payments of interest on joint venture loan	monthly
Amount loaned under joint venture agreement	$ 0

Commitments and Contingencies56

Commitments and Contingencies (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Earnout liability-beginning of period	$ 6,856	$ 18,871
Increases:
Amortization expense	28	551
Decreases:
Earnout payments	(6,415)	(9,067)
Adjustments to acquisition related costs	1,084	(1,413)
Earnout liability – end of period	$ 1,553	$ 8,942

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost of unvested share-based awards	$ 44		$ 44
Weighted average remaining period unrecognized compensation cost related to non-vested			1 year 7 months 7 days
Restricted Stock [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period			1 year
Restricted Stock [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period			3 years
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost of unvested share-based awards	44		$ 44
Weighted average remaining period unrecognized compensation cost related to non-vested			1 year 7 months 7 days
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period			1 year
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period			3 years
Non-Employee Directors [Member] | Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	9	$ 6	$ 22	$ 8
Non-Employee Directors [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 9	$ 6	$ 22	$ 8

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of the Restricted Shares and Restricted Share Units) (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Weighted Average Grant Date Fair Value | $ / shares	$ 40
Granted, Weighted Average Grant Date Fair Value | $ / shares	41
Vested, Weighted Average Grant Date Fair Value | $ / shares	(13)
Outstanding, Weighted Average Grant Date Fair Value | $ / shares	68
Outstanding, Aggregate Intrinsic Value | $ / shares	40
Granted, Aggregate Intrinsic Value | $ / shares	41
Vested, Aggregate Intrinsic Value | $ / shares	(13)
Outstanding, Aggregate Intrinsic Value | $ / shares	$ 68
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares | shares	3,326
Granted, Shares | shares	3,315
Vested, Shares | shares	(1,109)
Outstanding, Shares | shares	5,532
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares | shares	1,150
Granted, Shares | shares	1,184
Vested, Shares | shares	(389)
Outstanding, Shares | shares	1,945

Segment Reporting (Details)

Segment Reporting (Details) - Segment	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting [Abstract]
Number of reportable segments	1	1

Transactions with Related Par60

Transactions with Related Parties (Narrative) (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Return of original capital investment				$ 100,000
Earnings from limited partnership investments				20,000
Liability for additional proportional costs associated with termination of partnership		$ 0		$ 0
Number of common stock shares owned in related party		1,000		1,000		1,000
Value of common stock shares owned in related party		$ 1,000		$ 1,000		$ 1,000
Asset acquisition fee to contract purchase price, percentage		1.50%
Acquisition related costs		$ 62,000	$ (413,000)	$ 1,262,000	$ 421,000
Annual business management fee to its average invested assets, percentage				0.65%
Quarterly payable business management fee to its average invested assets, percentage				0.1625%
Acquisition Related Costs and Fee [Member]
Related Party Transaction [Line Items]
Total acquisition cost and fees	[1]	234,000	$ 49,000	$ 1,489,000	$ 1,578,000
Acquisition costs and fees capitalized		98,000		1,260,000
Acquisition costs capitalized as investment in unconsolidated entities		84,000		84,000
Acquisition related costs		$ 52,000		$ 145,000
Monthly Real Estate Management Fee Of Single Tenant Property [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage				1.90%
Monthly Real Estate Management Fee Of Any Other Property [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage				3.90%
[1]	The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired.  The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. Of the $234 related party acquisition costs and fees incurred during the three months ended September 30, 2017, $98 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets. $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets and $52 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss.  Of the $1,489 related party acquisition costs incurred during the nine months ended September 30, 2017, $1,260 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets, $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets, and $145 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets.

Transactions with Related Par61

Transactions with Related Parties (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Real estate management related costs with related party	[1]	$ 1,274	$ 1,290	$ 3,879	$ 3,577
Due to related parties		3,214		3,214		$ 2,663
General and Administrative Reimbursements [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party	[2]	345	633	1,319	1,406
Due to related parties	[2]	553		553		274
Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party		54	49	273	251
Acquisition related costs		8		8		88
Acquisition Fees [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party		180		1,216	1,327
Acquisition related costs		179		179
Acquisition Related Costs and Fee [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[3]	234	49	1,489	1,578
Acquisition related costs	[3]	187		187		88
Real Estate Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		1,178	1,179	3,638	3,355
Construction Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		45	46	98	78
Due to related parties		62		62		53
Leasing fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		51	65	143	144
Due to related parties		101		101		89
Real Estate Management Costs [Member]
Related Party Transaction [Line Items]
Due to related parties	[1]	163		163		142
Business Management Fee [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[4]	2,311	$ 2,190	6,871	$ 6,421
Due to related parties	[4]	$ 2,311		$ 2,311		$ 2,159
[1]	For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”), the Company pays a monthly real estate management fee of up to 1.9% of the gross income from any single-tenant, net-leased property, and up to 3.9% of the gross income from any other property type. The Real Estate Manager determines, in its sole discretion, the amount of the fee with respect to a particular property, subject to the limitations. For each property that is managed directly by the Real Estate Manager or its affiliates, the Company pays the Real Estate Manager a separate leasing fee. Further, in the event that the Company engages its Real Estate Manager to provide construction management services for a property, the Company pays a separate construction management fee. Leasing fees are included in deferred costs, net and construction management fees are included in building and other improvements in the accompanying consolidated balance sheets. The Company also reimburses the Real Estate Manager and its affiliates for property-level expenses that they pay or incur on the Company’s behalf, including the salaries, bonuses and benefits of persons performing services for the Real Estate Manager and its affiliates except for the salaries, bonuses and benefits of persons who also serve as an executive officer of the Real Estate Manager or the Company. Real estate management fees and reimbursable expenses are included in property operating expenses in the accompanying consolidated statements of operations and comprehensive loss.
[2]	The Business Manager and its related parties are entitled to reimbursement for certain general and administrative expenses incurred by the Business Manager or its related parties relating to the Company’s administration. Such costs are included in general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets.
[3]	The Company pays the Business Manager or its affiliates a fee equal to 1.5% of the “contract purchase price,” as defined, of each asset acquired.  The Business Manager and its related parties are also reimbursed for acquisition and transaction related costs of the Business Manager and its related parties relating to the Company’s acquisition activities, regardless of whether the Company acquires the real estate assets. Of the $234 related party acquisition costs and fees incurred during the three months ended September 30, 2017, $98 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets. $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets and $52 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss.  Of the $1,489 related party acquisition costs incurred during the nine months ended September 30, 2017, $1,260 are capitalized as the acquisition of net investment properties in the accompanying consolidated balance sheets, $84 are capitalized as investment in unconsolidated entities in the accompanying consolidated balance sheets, and $145 of such costs are included in acquisition related costs in the accompanying consolidated statements of operations and comprehensive loss. Unpaid amounts are included in due to related parties in the accompanying consolidated balance sheets.
[4]	The Company pays the Business Manager an annual business management fee equal to 0.65% of its “average invested assets.” The fee is payable quarterly in an amount equal to 0.1625% of its average invested assets as of the last day of the immediately preceding quarter. “Average invested assets” means, for any period, the average of the aggregate book value of the Company’s assets, including all intangibles and goodwill, invested, directly or indirectly, in equity interests in, and loans secured by, properties, as well as amounts invested in securities and consolidated and unconsolidated joint ventures or other partnerships, before reserves for amortization and depreciation or bad debts, impairments or other similar non-cash reserves, computed by taking the average of these values at the end of each month during the relevant calendar quarter.

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	Sep. 30, 2017USD ($)
Leases [Abstract]
2017 (remainder of year)	$ 23,284
2,018	90,494
2,019	83,513
2,020	76,785
2,021	71,135
Thereafter	294,128
Total	$ 639,339

Operating Leases (Narrative) (D

Operating Leases (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Remaining lease terms range description	from less than 1 year to 20 years.

Subsequent Events (Distribution

Subsequent Events (Distributions Narrative) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2017
Subsequent Event [Line Items]
Amount per share of distributions	$ 0.001643836
Annualized dividend per share	$ 0.60
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Amount per share of distributions		$ 0.001643836
Annualized dividend per share		$ 0.60
Minimum [Member]
Subsequent Event [Line Items]
Dividends payable, record date	Oct. 1, 2017
Maximum [Member]
Subsequent Event [Line Items]
Dividends payable, record date	Dec. 31, 2017

Subsequent Events (Schedule of

Subsequent Events (Schedule of Dividend Distributions) (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2017	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Subsequent Event [Line Items]
Month Distribution Paid		2017-10	2017-10		2017-10
Gross Amount of Distribution Paid		$ 4,395	$ 13,484	$ 13,227	$ 39,896	$ 39,156
Proceeds from distribution reinvestment plan		$ 2,194			$ 20,415
Shares Issued		242,510
Net Cash Distribution		$ 2,201
Subsequent Event [Member]
Subsequent Event [Line Items]
Month Distribution Paid	2017-11
Gross Amount of Distribution Paid	$ 4,544
Proceeds from distribution reinvestment plan	$ 2,266
Shares Issued	250,374
Net Cash Distribution	$ 2,278