Inland Real Estate Income Trust (INRE) 10-Q 8 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 01, 2018
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, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		35,592,905
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Investment properties:
Land	$ 277,229,000	$ 277,229,000
Building and other improvements	1,018,048,000	1,011,688,000
Total	1,295,277,000	1,288,917,000
Less accumulated depreciation	(129,574,000)	(101,094,000)
Net investment properties	1,165,703,000	1,187,823,000
Cash and cash equivalents	16,643,000	11,904,000
Restricted cash	1,007,000	4,940,000
Investment in unconsolidated entities	4,589,000	7,125,000
Accounts and rent receivable, net	15,402,000	15,152,000
Acquired lease intangible assets, net	120,822,000	138,658,000
Deferred costs, net	2,417,000	1,317,000
Other assets	20,659,000	8,451,000
Total assets	1,347,242,000	1,375,370,000
Liabilities:
Mortgages and credit facility payable, net	699,887,000	691,465,000
Accounts payable and accrued expenses	11,345,000	10,167,000
Distributions payable	11,924,000	4,537,000
Acquired intangible liabilities, net	58,585,000	62,270,000
Deferred investment property acquisition obligations	0	1,050,000
Due to related parties	2,825,000	2,665,000
Other liabilities	12,838,000	11,744,000
Total liabilities	797,404,000	783,898,000
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, 35,338,249 and 35,498,444 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	35,000	35,000
Additional paid in capital	795,238,000	798,567,000
Accumulated distributions and net loss	(258,864,000)	(212,883,000)
Accumulated other comprehensive income	13,429,000	5,753,000
Total stockholders’ equity	549,838,000	591,472,000
Total liabilities and stockholders’ equity	$ 1,347,242,000	$ 1,375,370,000

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
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	35,338,249	35,498,444
Common stock, shares outstanding	35,338,249	35,498,444

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income:
Total income	$ 32,290	$ 32,110	$ 96,808	$ 96,628
Cost and Expenses:
Property operating expenses	5,395	5,519	16,889	16,390
Real estate tax expense	4,143	4,386	12,331	12,384
General and administrative expenses	904	875	3,303	3,397
Acquisition related costs		62	28	1,262
Business management fee	2,338	2,311	7,000	6,871
Depreciation and amortization	14,390	15,492	43,612	46,391
Total expenses	27,170	28,645	83,163	86,695
Operating income	5,120	3,465	13,645	9,933
Interest expense	(6,825)	(6,361)	(19,970)	(18,316)
Gain on early termination of interest rate swap agreements	1,151		1,151
Loss on extinguishment of debt	(411)		(411)
Interest and other income	174	20	380	72
Provision for impairment of unconsolidated entities	(5,000)		(5,000)
Equity in earnings of unconsolidated entities		20		20
Net loss	$ (5,791)	$ (2,856)	$ (10,205)	$ (8,291)
Net loss per common share, basic and diluted	$ (0.16)	$ (0.08)	$ (0.29)	$ (0.23)
Weighted average number of common shares outstanding, basic and diluted	35,589,157	35,657,535	35,590,648	35,556,323
Comprehensive income (loss):
Net loss	$ (5,791)	$ (2,856)	$ (10,205)	$ (8,291)
Unrealized gain (loss) on derivatives	1,121	(268)	7,976	(1,721)
Reclassification adjustment for amounts included in net loss	(245)	507	(300)	2,002
Comprehensive income (loss)	(4,915)	(2,617)	(2,529)	(8,010)
Rental Income [Member]
Income:
Total income	25,096	24,640	74,773	74,312
Tenant Recovery Income [Member]
Income:
Total income	7,110	7,291	21,774	21,964
Other Property Income [Member]
Income:
Total income	$ 84	$ 179	$ 261	$ 352

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - 9 months ended Sep. 30, 2018 - 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, 2017	$ 591,472	$ 35	$ 798,567	$ (212,883)	$ 5,753
Balance, shares at Dec. 31, 2017	35,498,444	35,498,444
Distributions declared	$ (35,776)			(35,776)
Proceeds from distribution reinvestment plan	$ 13,720	$ 1	13,719
Proceeds from distribution reinvestment plan, shares	4,147,832	612,608
Shares repurchased	$ (17,084)	$ (1)	(17,083)
Shares repurchased, shares	(2,345,045)	(773,799)
Unrealized gain on derivatives	$ 7,976				7,976
Reclassification adjustment for amounts included in net loss	(300)				(300)
Equity based compensation	35		35
Equity based compensation, shares		996
Net loss	(10,205)			(10,205)
Balance at Sep. 30, 2018	$ 549,838	$ 35	$ 795,238	$ (258,864)	$ 13,429
Balance, shares at Sep. 30, 2018	35,338,249	35,338,249

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net loss	$ (10,205)	$ (8,291)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	43,612	46,391
Provision for impairment of investment in unconsolidated entities	5,000
Amortization of debt issuance costs and mortgage premiums, net	441	267
Loss on extinguishment of debt	411
Amortization of acquired market leases, net	(700)	(1,069)
Amortization of equity based compensation	35	22
Straight-line income, net	(975)	(1,276)
Equity in earnings of unconsolidated entities		(20)
Distributions from unconsolidated entity		146
Payment of leasing fees	(1,353)	(570)
Adjustment of contingent earnout liability	(853)	1,084
Other non-cash adjustments	(12)	(35)
Changes in assets and liabilities:
Accounts payable and accrued expenses	920	4,041
Accounts and rent receivable	1,287	608
Due to related parties	59	446
Other liabilities	(582)	(222)
Other assets	955	1,277
Net cash flows provided by operating activities	38,040	42,799
Cash flows from investing activities:
Purchase of investment properties		(69,953)
Capital expenditures	(6,825)	(4,042)
Investment in unconsolidated joint ventures	(2,464)	(5,602)
Other assets and restricted escrows	(5,801)	(267)
Net cash flows used in investing activities	(15,090)	(79,864)
Cash flows from financing activities:
Payment of credit facility	(56,277)	(43,000)
Proceeds from credit facility	251,000	79,300
Proceeds from mortgages payable		39,180
Payment of mortgages payable	(184,894)	(164)
Proceeds from the distribution reinvestment plan	13,720	20,415
Shares repurchased	(13,996)	(12,683)
Distributions paid	(28,388)	(39,989)
Payment of deferred investment property acquisition obligations	(1,050)	(6,415)
Payment of debt issuance costs	(2,259)	(444)
Net cash flows (used in) provided by financing activities	(22,144)	36,200
Net increase (decrease) in cash, cash equivalents and restricted cash	806	(865)
Cash, cash equivalents and restricted cash, at beginning of the period	16,844	16,857
Cash, cash equivalents and restricted cash, at end of period	17,650	15,992
Supplemental disclosure of cash flow information:
Land		17,513
Building and improvements	828	41,793
Acquired in-place lease intangibles		6,740
Acquired above market lease intangibles		8,645
Acquired below market lease intangibles		(4,590)
Assumed liabilities, net		(148)
Purchase of investment properties	828	69,953
Cash paid for interest	19,700	18,075
Supplemental schedule of non-cash investing and financing activities:
Accrued SRP	5,618	1,850
Distributions payable	$ 11,924	$ 4,395

Organization

Organization	9 Months Ended
	Sep. 30, 2018
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 acquired primarily 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, 2018, the Company owned 59 retail properties, totaling 6,870,124 square feet. The properties are located in 24 states. At September 30, 2018, the portfolio had a weighted average physical occupancy of 94.1% and economic occupancy of 94.7%. On January 16, 2018, the Company effected a 1-for-2.5 reverse stock split of its issued and outstanding common stock whereby every 2.5 shares of issued and outstanding common stock were converted into one share of its common stock (the “Reverse Stock Split”). In accordance with U.S. GAAP, all share information presented has been retroactively adjusted to reflect the Reverse Stock Split.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
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, 2017, as filed with the Securities and Exchange Commission on March 16, 2018, 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, 2018, except as noted below. 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. Certain amounts in the prior period consolidated financial statements have been reclassified to conform with the current year presentation. Recently Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, requires 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. Amounts included in restricted cash represent those required to be set aside by lenders for real estate taxes, insurance, capital expenditures and tenant improvements on our existing properties. These amounts also include post close escrows for tenant improvements, leasing commissions, master lease, general repairs and maintenance, and are classified as restricted cash on the Company’s consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Company’s consolidated balance sheets to such amounts shown in the Company’s consolidated statements of cash flows: September 30, 2018 2017 Cash and cash equivalents $ 16,643 $ 10,874 Restricted cash 1,007 5,118 Total cash, cash equivalents, and restricted cash $ 17,650 $ 15,992 On January 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers Leases (Topic 842) Recently Issued Accounting Pronouncements In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). On July 30, 2018 the FASB issued ASU No. 2018-11, Targeted Improvements, Leases (Topic 842) ASU No. 2018-11 also provides companies with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company expects to adopt the ASU No. 2016-02 on its effective date and For lessees, ASU No. 2016-02 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. The Company is the lessee under a ground lease, for which it will be required to recognize a ROU asset and a related lease liability on its consolidated balance sheets upon adoption. Both ASU No. 2016-02 and ASU No. 2018-11 are effective for the Company on January 1, 2019. The Company is continuing to evaluate this guidance and the impact, both as lessor and lessee on its consolidated financial statements.

Equity

Equity	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Equity	NOTE 3 – EQUITY The Company commenced an initial public “best efforts” offering (the “Offering”) on October 18, 2012, which concluded on October 16, 2015. The Company issued 33,534,022 shares of common stock generating gross proceeds of $834,399 from the Offering. As of September 30, 2018, there were 35,338,249 shares of common stock outstanding including 4,147,832 shares issued through the distribution reinvestment plan (“DRP”), net of 2,345,045 shares repurchased through the share repurchase program (“SRP”). On March 20, 2018, the Company’s board of directors determined an estimated per share net asset value (the “Estimated Per Share NAV”) as reported in the Company’s Form 8-K filed with the Securities and Exchange Commission on March 21, 2018. 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 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. Distributions reinvested through the DRP were $13,720 and $20,415 for the nine months ended September 30, 2018 and 2017, respectively. Share Repurchase Program The Company adopted a share repurchase program effective October 18, 2012 which was subsequently amended effective January 1, 2018 to change the processing of repurchase requests from a monthly to a quarterly basis to align with the move to quarterly distributions. Under the amended and restated 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), as adjusted by the Reverse Stock Split, 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. Repurchases through the SRP were $17,084 and $13,085 for the nine months ended September 30, 2018 and 2017, respectively. At September 30, 2018 and December 31, 2017, the Company’s liability related to the SRP was $5,618 and $2,530, respectively, recorded in other liabilities on the Company’s consolidated balance sheets.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisitions	NOTE 4 – ACQUISITIONS 2018 Acquisitions During the nine months ended September 30, 2018, the Company did not acquire any additional properties. The Company incurred a total of $12 of acquisition related costs, during the three months ended September 30, 2018, all of which are capitalized as the acquisition of net investment properties in the consolidated balance sheets. The Company incurred $65 of acquisition related costs during the nine months ended September 30, 2018, $12 of which are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $53 of which was recorded in acquisition related costs, net of an adjustment to the deferred investment property acquisition obligation of ($25), that were recorded in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). For the three months ended September 30, 2017, the Company incurred $222 of total acquisition costs and fees, $160 of which are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $62 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). For the nine months ended September 30, 2017, the Company incurred $2,781 of total acquisition costs and fees, $1,519 of which are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $1,262 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss).

Investment in Unconsolidated En

Investment in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2018
Equity Method Investments And Joint Ventures [Abstract]
Investment in Unconsolidated Entities	NOTE 5 – INVESTMENT IN UNCONSOLIDATED ENTITIES The following table summarizes the Company’s joint ventures: Investment in unconsolidated entities Entity Company's Profit/Loss Allocation at September 30, 2018 Remaining Commitment September 30, 2018 (b) December 31, 2017 Mainstreet Texas Development Fund, LLC ("Mainstreet JV") (a) 83.7% $ — $ 4,589 $ 7,125 $ 4,589 $ 7,125 (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. In August 2018, the Company’s subsidiary made an additional capital contribution to Mainstreet JV to fund cost overruns. The investment balance includes capitalized acquisition, interest and legal costs of $337. (b) During the three and nine months ended September 30, 2018, the Company recorded an impairment to its investment in the Mainstreet JV of $5,000 to write down the investment to its estimated fair value based on the Company’s evaluations. See Note 14 - "Fair Value Measurements" for further information.

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2018
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, 2018 and December 31, 2017: September 30, 2018 December 31, 2017 Intangible assets: Acquired in-place lease value $ 165,182 $ 165,182 Acquired above market lease value 45,824 45,824 Accumulated amortization (90,184 ) (72,348 ) Acquired lease intangibles, net $ 120,822 $ 138,658 Intangible liabilities: Acquired below market lease value $ 71,551 $ 71,551 Acquired above market ground lease 5,169 5,169 Accumulated amortization (18,135 ) (14,450 ) Acquired below market lease intangibles, net $ 58,585 $ 62,270 As of September 30, 2018, 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. 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: 2018 2017 2018 2017 Acquired in-place lease value $ 4,832 $ 5,640 $ 14,851 $ 16,508 Amortization recorded as a reduction to property operating expense: Acquired above market ground lease $ 23 $ 23 $ 70 $ 70 Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (910 ) $ (1,212 ) $ (2,985 ) $ (3,304 ) Acquired below market leases 1,310 1,187 3,615 4,303 Net rental income (decrease) increase $ 400 $ (25 ) $ 630 $ 999 Estimated amortization of the respective intangible lease assets and liabilities as of September 30, 2018 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 2018 (remainder of year) $ 4,559 $ 906 $ (1,099 ) $ (23 ) 2019 16,882 3,405 (4,297 ) (94 ) 2020 13,884 3,066 (4,078 ) (94 ) 2021 11,427 2,997 (3,896 ) (94 ) 2022 8,781 2,691 (3,636 ) (94 ) Thereafter 33,915 18,309 (36,690 ) (4,490 ) Total $ 89,448 $ 31,374 $ (53,696 ) $ (4,889 )

Debt and Derivative Instruments

Debt and Derivative Instruments	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt and Derivative Instruments	NOTE 7 – DEBT AND DERIVATIVE INSTRUMENTS As of September 30, 2018 and December 31, 2017, the Company had the following mortgages and credit facility payable: September 30, 2018 December 31, 2017 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 171,699 4.25 % $ 171,851 4.25 % Variable rate mortgages payable with swap agreements 252,244 3.33 % 383,517 3.49 % Variable rate mortgages payable 684 3.70 % 54,153 3.26 % Mortgages payable $ 424,627 3.71 % $ 609,521 3.69 % Credit facility payable 278,523 4.07 % 83,800 3.21 % Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps $ 703,150 3.85 % $ 693,321 3.63 % Add: Unamortized mortgage premiums 1,841 2,316 Less: Unamortized debt issuance costs (5,104 ) (4,172 ) Total debt $ 699,887 $ 691,465 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 $703,150 and $693,321 as of September 30, 2018 and December 31, 2017, respectively, and its estimated fair value was $700,117 and $684,621 as of September 30, 2018 and December 31, 2017, respectively. As of September 30, 2018, scheduled principal payments and maturities on the Company’s debt were as follows: September 30, 2018 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2018 (remainder of the year) $ 69 $ — $ — $ 69 2019 215 7,447 — 7,662 2020 897 — — 897 2021 1,531 82,740 — 84,271 2022 615 101,537 128,523 230,675 Thereafter 963 228,613 150,000 379,576 Total $ 4,290 $ 420,337 $ 278,523 $ 703,150 Credit Facility Payable On August 1, 2018, the Company amended and restated its credit facility (the “Credit Facility”) to among other things: • Increase the facility from $110,000 to $350,000 including a $200,000 revolving credit facility (the “Revolving Credit Facility”) and $150,000 term loan (the “Term Loan”), with an accordion feature that allows for an increase in available borrowings up to $700,000, subject to certain conditions; • Extend the maturity date of the current revolving credit facility to August 1, 2022 with one 12-month extension; • Provide a Term Loan with a maturity date of August 1, 2023. At September 30, 2018, the Company has $128,523 outstanding under the Revolving Credit Facility and $150,000 outstanding under the Term Loan. At September 30, 2018 the interest rate on the Revolving Credit Facility and the Term Loan was 3.82% and 4.29%, respectively. The Revolving Credit Facility matures on August 1, 2022, and the Company has the option to extend the maturity date for one additional year subject to the payment of an extension fee and certain other conditions. The Term Loan matures on August 1, 2023. As of September 30, 2018, the Company had $71,477 available for borrowing under the Revolving Credit Facility. The Company’s performance of the obligations under the Credit Facility, including the payment of any outstanding indebtedness under the Credit Facility, is guaranteed by certain subsidiaries of the Company, including each of the subsidiaries of the Company which owns or leases any of the properties included in the pool of unencumbered properties comprising the borrowing base. Additional properties will be added to and removed from the pool from time to time to support amounts borrowed under the Credit Facility. At September 30, 2018, there were 28 properties included in the pool of unencumbered properties. The Company paid-off twelve mortgage loans with a principal balance of $184,700 and ten interest rate swap agreements with a notional amount of $131,300. The Credit Facility requires compliance with certain covenants, 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. Gain on early termination of interest rate swap agreements During the three and nine months ended September 30, 2018, the Company recorded a gain of $1,151 related to the early termination of certain interest rate swap agreements that had corresponding early mortgage pay-offs. Loss on extinguishment of debt During the three and nine months ended September 30, 2018, the Company realized a loss on extinguishment of debt in the consolidated statements of operations and comprehensive income (loss) of $411 due to the write-off of the unamortized balance of debt issuance costs associated with ten loans that were repaid prior to maturity. Mortgages Payable The mortgage loans require compliance with certain covenants, such as debt service ratios, investment restrictions and distribution limitations. As of September 30, 2018, 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, 2018, the weighted average years to maturity for the Company’s mortgages payable was approximately 4.84 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. See Note 14 - "Fair Value Measurements" for further information. The following table summarizes the Company’s interest rate swap contracts outstanding as of September 30, 2018. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value at September 30, 2018 Assets February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 173 April 7, 2015 April 7, 2015 April 7, 2022 1.74 % 49,400 1,883 September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 514 October 2, 2015 November 1, 2015 November 1, 2022 1.79 % 13,100 561 December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 1,054 January 25, 2016 February 1, 2016 February 1, 2021 1.40 % 38,000 1,249 June 7, 2016 July 1, 2016 July 1, 2023 1.42 % 43,680 2,884 July 21, 2016 August 1, 2016 August 1, 2023 1.30 % 47,550 3,468 June 5, 2017 May 31, 2017 May 15, 2022 1.90 % 14,700 501 August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 60,000 474 August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 196 August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 189 August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 40,000 313 $ 402,244 $ 13,459 (a) Receive floating rate index based upon 1 month LIBOR. At September 30, 2018, the 1 month LIBOR was 2.26%. 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 income (loss). 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 income (loss) for the three and nine months ended September 30, 2018 and 2017. Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2018 2017 2018 2017 Effective portion of derivatives $ 1,121 $ (268 ) $ 7,976 $ (1,721 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ (245 ) $ 507 $ (300 ) $ 2,002 Ineffective portion of derivatives $ — $ (1 ) $ (13 ) $ 12 The amount that is expected to be reclassified from accumulated other comprehensive income into income in the next twelve months is approximately $2,293.

Distributions

Distributions	9 Months Ended
	Sep. 30, 2018
Distributions [Abstract]
Distributions	NOTE 8 – DISTRIBUTIONS The Company currently pays quarterly distributions in an amount equal to $0.335 per share, which represents an annualized rate of 6% based on the Estimated Per Share NAV, payable in arrears the following quarter. For 2017, the Company paid distributions based on daily record dates, payable in arrears the following month, equal to a daily amount of $0.00410959 per share, based upon a 365-day year. The table below presents the distributions paid and declared during the three and nine months ended September 30, 2018 and 2017. Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Distributions paid $ 11,924 $ 13,482 $ 28,388 $ 39,989 Distributions declared $ 11,924 $ 13,484 $ 35,776 $ 39,896

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2018
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, 2018
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”). At September 30, 2018 there is no earnout liability outstanding. The table below presents the change in the Company’s Earnout liability for the nine months ended September 30, 2018 and 2017. Nine Months Ended September 30, 2018 2017 Earnout liability-beginning of period $ 1,050 $ 6,856 Increases: Additional earnout liability 816 — Amortization expense 24 28 Decreases: Earnout payments (1,865 ) (6,415 ) Other: Adjustments to acquisition related costs (25 ) 1,084 Earnout liability – end of period $ — $ 1,553 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.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2018
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, 2017 2,543 904 $ 78 $ 78 Granted 1,677 624 51 51 Vested (996 ) (353 ) (30 ) (30 ) Converted — — — — Forfeited — — — — Outstanding at September 30, 2018 3,224 1,175 $ 99 $ 99

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2018
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, 2018 and 2017.

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Transactions With Related Parties	NOTE 13 – TRANSACTIONS WITH RELATED PARTIES The following table summarizes the Company’s related party transactions for the three and nine months ended September 30, 2018 and 2017. 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 2018 2017 2018 2017 September 30, 2018 December 31, 2017 General and administrative reimbursements (a) $ 279 $ 345 $ 1,102 $ 1,319 $ 288 $ 203 Acquisition related costs $ — $ 54 $ 8 $ 273 $ — $ — Acquisition fees 12 180 28 1,216 12 51 Total acquisition costs and fees (b) $ 12 $ 234 $ 36 $ 1,489 $ 12 $ 51 Real estate management fees $ 1,090 $ 1,178 $ 3,615 $ 3,638 $ — $ — Property operating expenses 289 282 857 832 — — Construction management fees 67 45 177 98 70 35 Leasing fees 69 51 214 143 116 51 Total real estate management related costs (c) $ 1,515 $ 1,556 $ 4,863 $ 4,711 $ 186 $ 86 Business management fees (d) $ 2,338 $ 2,311 $ 7,000 $ 6,871 $ 2,339 $ 2,325 (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 consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the 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 $12 related party acquisition costs and fees incurred during the three months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets. Of the $36 related party acquisition costs and fees incurred during the nine months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $24 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). 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 consolidated balance sheets and $52 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Of the $1,489 related party acquisition costs and fees incurred during the nine months ended September 30, 2017, $1,344 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $145 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the consolidated balance sheets. (c) For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”) (and its predecessor), 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 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 consolidated statements of operations and comprehensive income (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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 14 – FAIR VALUE MEASUREMENTS Fair Value Hierarchy The Company defines fair value based on the price that it believes would be received upon sale of an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value. The fair value hierarchy consists of three broad levels, which are described below: Level 1 − Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. Level 2 − Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 − Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company has estimated the fair value of its financial and non-financial instruments using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Recurring Fair Value Measurements For assets and liabilities measured at fair value on a recurring basis, 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, 2018 and December 31, 2017, respectively. Fair Value Level 1 Level 2 Level 3 Total September 30, 2018 Interest rate swap agreements - Other assets $ — $ 13,459 $ — $ 13,459 December 31, 2017 Interest rate swap agreements - Other assets $ — $ 6,136 $ — $ 6,136 Interest rate swap agreements - Other liabilities $ — $ 340 $ — $ 340 The fair value of derivative instruments was estimated based on data observed in the forward yield curve which is widely observed in the marketplace. The Company also incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the counterparty's nonperformance risk in the fair value measurements which utilize Level 3 inputs, such as estimates of current credit spreads. The Company has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative interest rate swap agreements and therefore has classified these in Level 2 of the hierarchy. Non-recurring Fair Value Measurements The table below presents activity for the Company’s assets measured at fair value on a non-recurring basis. The Company recognized an impairment charge of $5,000 to its investment in the Mainstreet JV to reflect this investment at its estimated fair value for the three and nine months ended September 30, 2018 which is included in provision for impairment of unconsolidated entities on the consolidated statements of operations and comprehensive income (loss). During the three and nine months ended September 30 no Fair Value Level 1 Level 2 Level 3 Total Total Impairment Loss Investment in unconsolidated entities $ — $ — $ 4,589 $ 4,589 $ 5,000 Total $ — $ — $ 4,589 $ 4,589 $ 5,000 As of September 30, 2018, the Company identified indicators of impairment in its investment in the Mainstreet JV. Such indicators included construction overruns, loss of a planned tenant and the related cost of re-leasing. The fair value of this investment was based on the value of the underlying properties and was The

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 15 – SUBSEQUENT EVENTS Distributions On September 5, 2018, the Company’s board of directors declared cash distributions payable to stockholders of record at the close of business on September 28, 2018, in the amount equal to $0.335 per share, or $11,924, which represents an annualized rate of 6% based on the Estimated Per Share NAV, payable in arrears the following quarter. In October 2018, the Company reinvested and repurchased the following shares and amounts: Distributions Reinvested through the DRP Number of Shares Issued through the DRP Amount of Shares Repurchased through the SRP Number of Shares Repurchased through the SRP $ 5,618 251,431 $ 5,618 253,776

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
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. Certain amounts in the prior period consolidated financial statements have been reclassified to conform with the current year presentation.
Recently Adopted Accounting and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, requires 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. Amounts included in restricted cash represent those required to be set aside by lenders for real estate taxes, insurance, capital expenditures and tenant improvements on our existing properties. These amounts also include post close escrows for tenant improvements, leasing commissions, master lease, general repairs and maintenance, and are classified as restricted cash on the Company’s consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Company’s consolidated balance sheets to such amounts shown in the Company’s consolidated statements of cash flows: September 30, 2018 2017 Cash and cash equivalents $ 16,643 $ 10,874 Restricted cash 1,007 5,118 Total cash, cash equivalents, and restricted cash $ 17,650 $ 15,992 On January 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers Leases (Topic 842) Recently Issued Accounting Pronouncements In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). On July 30, 2018 the FASB issued ASU No. 2018-11, Targeted Improvements, Leases (Topic 842) ASU No. 2018-11 also provides companies with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company expects to adopt the ASU No. 2016-02 on its effective date and For lessees, ASU No. 2016-02 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. The Company is the lessee under a ground lease, for which it will be required to recognize a ROU asset and a related lease liability on its consolidated balance sheets upon adoption. Both ASU No. 2016-02 and ASU No. 2018-11 are effective for the Company on January 1, 2019. The Company is continuing to evaluate this guidance and the impact, both as lessor and lessee on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Company’s consolidated balance sheets to such amounts shown in the Company’s consolidated statements of cash flows: September 30, 2018 2017 Cash and cash equivalents $ 16,643 $ 10,874 Restricted cash 1,007 5,118 Total cash, cash equivalents, and restricted cash $ 17,650 $ 15,992

Investment in Unconsolidated _2

Investment in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 Remaining Commitment September 30, 2018 (b) December 31, 2017 Mainstreet Texas Development Fund, LLC ("Mainstreet JV") (a) 83.7% $ — $ 4,589 $ 7,125 $ 4,589 $ 7,125 (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. In August 2018, the Company’s subsidiary made an additional capital contribution to Mainstreet JV to fund cost overruns. The investment balance includes capitalized acquisition, interest and legal costs of $337. (b) During the three and nine months ended September 30, 2018, the Company recorded an impairment to its investment in the Mainstreet JV of $5,000 to write down the investment to its estimated fair value based on the Company’s evaluations. See Note 14 - "Fair Value Measurements" for further information.

Acquired Intangible Assets an_2

Acquired Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 and December 31, 2017: September 30, 2018 December 31, 2017 Intangible assets: Acquired in-place lease value $ 165,182 $ 165,182 Acquired above market lease value 45,824 45,824 Accumulated amortization (90,184 ) (72,348 ) Acquired lease intangibles, net $ 120,822 $ 138,658 Intangible liabilities: Acquired below market lease value $ 71,551 $ 71,551 Acquired above market ground lease 5,169 5,169 Accumulated amortization (18,135 ) (14,450 ) Acquired below market lease intangibles, net $ 58,585 $ 62,270
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: 2018 2017 2018 2017 Acquired in-place lease value $ 4,832 $ 5,640 $ 14,851 $ 16,508 Amortization recorded as a reduction to property operating expense: Acquired above market ground lease $ 23 $ 23 $ 70 $ 70 Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (910 ) $ (1,212 ) $ (2,985 ) $ (3,304 ) Acquired below market leases 1,310 1,187 3,615 4,303 Net rental income (decrease) increase $ 400 $ (25 ) $ 630 $ 999
Schedule of Estimated Amortization of Intangible Lease Assets and Liabilities	Estimated amortization of the respective intangible lease assets and liabilities as of September 30, 2018 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 2018 (remainder of year) $ 4,559 $ 906 $ (1,099 ) $ (23 ) 2019 16,882 3,405 (4,297 ) (94 ) 2020 13,884 3,066 (4,078 ) (94 ) 2021 11,427 2,997 (3,896 ) (94 ) 2022 8,781 2,691 (3,636 ) (94 ) Thereafter 33,915 18,309 (36,690 ) (4,490 ) Total $ 89,448 $ 31,374 $ (53,696 ) $ (4,889 )

Debt and Derivative Instrumen_2

Debt and Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Mortgages and Credit Facilities Payable	As of September 30, 2018 and December 31, 2017, the Company had the following mortgages and credit facility payable: September 30, 2018 December 31, 2017 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 171,699 4.25 % $ 171,851 4.25 % Variable rate mortgages payable with swap agreements 252,244 3.33 % 383,517 3.49 % Variable rate mortgages payable 684 3.70 % 54,153 3.26 % Mortgages payable $ 424,627 3.71 % $ 609,521 3.69 % Credit facility payable 278,523 4.07 % 83,800 3.21 % Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps $ 703,150 3.85 % $ 693,321 3.63 % Add: Unamortized mortgage premiums 1,841 2,316 Less: Unamortized debt issuance costs (5,104 ) (4,172 ) Total debt $ 699,887 $ 691,465
Schedule of Principal Payments and Maturities of Company's Debt	As of September 30, 2018, scheduled principal payments and maturities on the Company’s debt were as follows: September 30, 2018 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2018 (remainder of the year) $ 69 $ — $ — $ 69 2019 215 7,447 — 7,662 2020 897 — — 897 2021 1,531 82,740 — 84,271 2022 615 101,537 128,523 230,675 Thereafter 963 228,613 150,000 379,576 Total $ 4,290 $ 420,337 $ 278,523 $ 703,150
Summary of Interest Rate Swap Contracts Outstanding	The following table summarizes the Company’s interest rate swap contracts outstanding as of September 30, 2018. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value at September 30, 2018 Assets February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 173 April 7, 2015 April 7, 2015 April 7, 2022 1.74 % 49,400 1,883 September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 514 October 2, 2015 November 1, 2015 November 1, 2022 1.79 % 13,100 561 December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 1,054 January 25, 2016 February 1, 2016 February 1, 2021 1.40 % 38,000 1,249 June 7, 2016 July 1, 2016 July 1, 2023 1.42 % 43,680 2,884 July 21, 2016 August 1, 2016 August 1, 2023 1.30 % 47,550 3,468 June 5, 2017 May 31, 2017 May 15, 2022 1.90 % 14,700 501 August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 60,000 474 August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 196 August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 189 August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 40,000 313 $ 402,244 $ 13,459 (a) Receive floating rate index based upon 1 month LIBOR. At September 30, 2018, the 1 month LIBOR was 2.26%.
Schedule of Derivative Financial Instruments on Consolidated Statements of Operations and Other Comprehensive Income (Loss)	The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2018 and 2017. Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2018 2017 2018 2017 Effective portion of derivatives $ 1,121 $ (268 ) $ 7,976 $ (1,721 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ (245 ) $ 507 $ (300 ) $ 2,002 Ineffective portion of derivatives $ — $ (1 ) $ (13 ) $ 12

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 and 2017. Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Distributions paid $ 11,924 $ 13,482 $ 28,388 $ 39,989 Distributions declared $ 11,924 $ 13,484 $ 35,776 $ 39,896

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 and 2017. Nine Months Ended September 30, 2018 2017 Earnout liability-beginning of period $ 1,050 $ 6,856 Increases: Additional earnout liability 816 — Amortization expense 24 28 Decreases: Earnout payments (1,865 ) (6,415 ) Other: Adjustments to acquisition related costs (25 ) 1,084 Earnout liability – end of period $ — $ 1,553

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2017 2,543 904 $ 78 $ 78 Granted 1,677 624 51 51 Vested (996 ) (353 ) (30 ) (30 ) Converted — — — — Forfeited — — — — Outstanding at September 30, 2018 3,224 1,175 $ 99 $ 99

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 and 2017. 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 2018 2017 2018 2017 September 30, 2018 December 31, 2017 General and administrative reimbursements (a) $ 279 $ 345 $ 1,102 $ 1,319 $ 288 $ 203 Acquisition related costs $ — $ 54 $ 8 $ 273 $ — $ — Acquisition fees 12 180 28 1,216 12 51 Total acquisition costs and fees (b) $ 12 $ 234 $ 36 $ 1,489 $ 12 $ 51 Real estate management fees $ 1,090 $ 1,178 $ 3,615 $ 3,638 $ — $ — Property operating expenses 289 282 857 832 — — Construction management fees 67 45 177 98 70 35 Leasing fees 69 51 214 143 116 51 Total real estate management related costs (c) $ 1,515 $ 1,556 $ 4,863 $ 4,711 $ 186 $ 86 Business management fees (d) $ 2,338 $ 2,311 $ 7,000 $ 6,871 $ 2,339 $ 2,325 (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 consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the 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 $12 related party acquisition costs and fees incurred during the three months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets. Of the $36 related party acquisition costs and fees incurred during the nine months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $24 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). 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 consolidated balance sheets and $52 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Of the $1,489 related party acquisition costs and fees incurred during the nine months ended September 30, 2017, $1,344 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $145 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the consolidated balance sheets. (c) For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”) (and its predecessor), 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 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 consolidated statements of operations and comprehensive income (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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Cash Flow Hedges and Classification on Consolidated Balance Sheets	For assets and liabilities measured at fair value on a recurring basis, 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, 2018 and December 31, 2017, respectively. Fair Value Level 1 Level 2 Level 3 Total September 30, 2018 Interest rate swap agreements - Other assets $ — $ 13,459 $ — $ 13,459 December 31, 2017 Interest rate swap agreements - Other assets $ — $ 6,136 $ — $ 6,136 Interest rate swap agreements - Other liabilities $ — $ 340 $ — $ 340
Schedule of Assets Measured at Fair Value on a Non-Recurring Basis	The table below presents activity for the Company’s assets measured at fair value on a non-recurring basis. The Company recognized an impairment charge of $5,000 to its investment in the Mainstreet JV to reflect this investment at its estimated fair value for the three and nine months ended September 30, 2018 which is included in provision for impairment of unconsolidated entities on the consolidated statements of operations and comprehensive income (loss). During the three and nine months ended September 30 no Fair Value Level 1 Level 2 Level 3 Total Total Impairment Loss Investment in unconsolidated entities $ — $ — $ 4,589 $ 4,589 $ 5,000 Total $ — $ — $ 4,589 $ 4,589 $ 5,000

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Schedule of Reinvested and Repurchased Shares	In October 2018, the Company reinvested and repurchased the following shares and amounts: Distributions Reinvested through the DRP Number of Shares Issued through the DRP Amount of Shares Repurchased through the SRP Number of Shares Repurchased through the SRP $ 5,618 251,431 $ 5,618 253,776

Organization (Narrative) (Detai

Organization (Narrative) (Details)	Jan. 16, 2018	Sep. 30, 2018ft²PropertyState
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of retail properties owned | Property		59
Square footage of real estate properties owned | ft²		6,870,124
Number of states in which company owns real estate properties | State		24
Weighted average physical occupancy rate of property portfolio		94.10%
Weighted average economic occupancy rate of property portfolio		94.70%
Description of reverse stock split		On January 16, 2018, the Company effected a 1-for-2.5 reverse stock split of its issued and outstanding common stock whereby every 2.5 shares of issued and outstanding common stock were converted into one share of its common stock (the “Reverse Stock Split”). In accordance with U.S. GAAP, all share information presented has been retroactively adjusted to reflect the Reverse Stock Split.
Reverse stock, split ratio	0.4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Accounting Standards Update 2016-18 [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Decrease in net cash used in investing activities	$ 878

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Reconciliation of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 16,643	$ 11,904	$ 10,874
Restricted cash	1,007	4,940	5,118
Total cash, cash equivalents, and restricted cash	$ 17,650	$ 16,844	$ 15,992	$ 16,857

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($)	Oct. 16, 2015	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Equity [Line Items]
Common stock, shares issued	33,534,022	35,338,249		35,498,444
Proceeds from offering	$ 834,399
Common stock, shares outstanding		35,338,249		35,498,444
Distribution reinvestment plan, shares		4,147,832
Shares repurchased through the share repurchase program		2,345,045
Distribution reinvested		$ 13,720,000
Stock repurchase program, amount		17,084,000	$ 13,085,000
Other liabilities		$ 12,838,000		$ 11,744,000
Repurchase of Shares Owned for One Year [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares		92.50%
Repurchase of Shares Owned for Four Years [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares		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%
Stock Repurchase Program [Member]
Equity [Line Items]
Other liabilities		$ 5,618,000		$ 2,530,000
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]
Distribution reinvested		$ 13,720,000	$ 20,415,000

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Combinations [Abstract]
Acquisition cost	$ 12	$ 222	$ 65	$ 2,781
Capitalized acquisition costs and fees in net investment properties	$ 12	160	12	1,519
Acquisition related costs in adjustment to deferred investment property		$ 62	25	$ 1,262
Acquisition and dead deal costs excluding deferred investment property incurred during the period			$ 53

Investment in Unconsolidated _3

Investment in Unconsolidated Entities (Schedule of Joint Ventures) (Details) - USD ($) $ in Thousands		Sep. 30, 2018		Dec. 31, 2017
Schedule Of Equity Method Investments [Line Items]
Investment in unconsolidated entities		$ 4,589	[1]	$ 7,125
Mainstreet Texas Development Fund, LLC ("Mainstreet JV") [Member]
Schedule Of Equity Method Investments [Line Items]
Company's Profit/Loss Allocation	[2]	83.70%
Investment in unconsolidated entities	[2]	$ 4,589	[1]	$ 7,125
[1]	During the three and nine months ended September 30, 2018, the Company recorded an impairment to its investment in the Mainstreet JV of $5,000 to write down the investment to its estimated fair value based on the Company’s evaluations. See Note 14 - "Fair Value Measurements" for further information.
[2]	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. In August 2018, the Company’s subsidiary made an additional capital contribution to Mainstreet JV to fund cost overruns. The investment balance includes capitalized acquisition, interest and legal costs of $337.

Investment in Unconsolidated _4

Investment in Unconsolidated Entities (Schedule of Joint Ventures) (Parenthetical) (Details) - Mainstreet Texas Development Fund, LLC ("Mainstreet JV") [Member] $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)
Schedule Of Equity Method Investments [Line Items]
Investment balance includes capitalized acquisition, interest and legal costs	$ 337	$ 337
Impairment to investment	$ 5,000	$ 5,000

Acquired Intangible Assets an_3

Acquired Intangible Assets and Liabilities (Schedule of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Intangible assets:
Accumulated amortization	$ (90,184)	$ (72,348)
Acquired lease intangibles, net	120,822	138,658
Intangible liabilities:
Acquired below market lease value	71,551	71,551
Acquired above market ground lease	5,169	5,169
Accumulated amortization	(18,135)	(14,450)
Acquired below market lease intangibles, net	58,585	62,270
Acquired in-place lease value [Member]
Intangible assets:
Acquired intangible assets	165,182	165,182
Acquired lease intangibles, net	89,448
Acquired above market lease value [Member]
Intangible assets:
Acquired intangible assets	45,824	$ 45,824
Acquired lease intangibles, net	$ 31,374

Acquired Intangible Assets an_4

Acquired Intangible Assets and Liabilities - Narrative (Details)	9 Months Ended
	Sep. 30, 2018
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	10 years
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Intangible liabilities, weighted average amortization period	14 years
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

Acquired Intangible Assets an_5

Acquired Intangible Assets and Liabilities (Schedule of Amortization of Acquired In Place Lease Value, Above Market Ground Lease, Above and Below Market Lease Values) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 400	$ (25)	$ 630	$ 999
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as amortization expense	4,832	5,640	14,851	16,508
Acquired 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	(910)	(1,212)	(2,985)	(3,304)
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 1,310	$ 1,187	$ 3,615	$ 4,303

Acquired Intangible Assets an_6

Acquired Intangible Assets and Liabilities (Schedule of Estimated Amortization of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Future amortization for acquired in-place and above market lease assets:
Acquired lease intangibles, net	$ 120,822	$ 138,658
Future amortization for below market lease liabilities:
2018 (remainder of year)	(1,099)
2,019	(4,297)
2,020	(4,078)
2,021	(3,896)
2,022	(3,636)
Thereafter	(36,690)
Total	(53,696)
Future amortization for above market ground lease liabilities:
2018 (remainder of year)	(23)
2,019	(94)
2,020	(94)
2,021	(94)
2,022	(94)
Thereafter	(4,490)
Total	(4,889)
Acquired in-place lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2018 (remainder of year)	4,559
2,019	16,882
2,020	13,884
2,021	11,427
2,022	8,781
Thereafter	33,915
Acquired lease intangibles, net	89,448
Acquired above market lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2018 (remainder of year)	906
2,019	3,405
2,020	3,066
2,021	2,997
2,022	2,691
Thereafter	18,309
Acquired lease intangibles, net	$ 31,374

Debt and Derivative Instrumen_3

Debt and Derivative Instruments (Schedule of Mortgages and Credit Facility Payable) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 424,627	$ 609,521
Credit facility payable	278,523	83,800
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	703,150	693,321
Add: Unamortized mortgage premiums	1,841	2,316
Less: Unamortized debt issuance costs	(5,104)	(4,172)
Total debt	$ 699,887	$ 691,465
Mortgages Payable, Weighted Average Interest Rate	3.71%	3.69%
Credit Facilities Payable, Weighted Average Interest Rate	4.07%	3.21%
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps, Weighted Average Interest Rate	3.85%	3.63%
Fixed rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 171,699	$ 171,851
Mortgages Payable, Weighted Average Interest Rate	4.25%	4.25%
Variable rate mortgages payable with swap agreements [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 252,244	$ 383,517
Mortgages Payable, Weighted Average Interest Rate	3.33%	3.49%
Variable rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 684	$ 54,153
Mortgages Payable, Weighted Average Interest Rate	3.70%	3.26%

Debt and Derivative Instrumen_4

Debt and Derivative Instruments (Narrative) (Details)	Aug. 01, 2018USD ($)	Sep. 30, 2018USD ($)DebtInstrumentDerivativeInstrument	Sep. 30, 2018USD ($)PropertyDebtInstrumentDerivativeInstrumentLoan	Jul. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Carrying value of debt		$ 703,150,000	$ 703,150,000		$ 693,321,000
Estimated fair value of debt		700,117,000	700,117,000		684,621,000
Credit facility, maximum borrowing capacity	$ 350,000,000			$ 110,000,000
Outstanding line of credit		278,523,000	$ 278,523,000		$ 83,800,000
Number of properties pledged as collateral | Property			28
Gain on early termination of interest rate swap agreements		1,151,000	$ 1,151,000
Loss on extinguishment of debt		$ 411,000	$ 411,000
Number of loans repaid prior to maturity | Loan			10
Amount expected to be reclassified from accumulated other comprehensive income into income in the next twelve months			$ 2,293,000
Mortgages Payable [Member]
Debt Instrument [Line Items]
Weighted Average Years to Maturity			4 years 10 months 2 days
Mortgages payable, covenant compliance			the Company was current on all of the payments and in compliance with all financial covenants.
Interest Rate Swap Agreements [Member]
Debt Instrument [Line Items]
Number of derivative instruments paid off | DerivativeInstrument		10	10
Notional amount		$ 131,300,000	$ 131,300,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Carrying value of debt		278,523,000	$ 278,523,000
Credit facility, maximum borrowing capacity	200,000,000
Line of credit accordion feature to increase available borrowings	$ 700,000,000
Credit facility, maturity date	Aug. 1, 2022		Aug. 1, 2022
Line of credit facility, number of months extension available	12 months
Outstanding line of credit		128,523,000	$ 128,523,000
Credit facility, interest rate			3.82%
Line of credit facility, expiration date, extension period			1 year
Credit facility available for borrowing		71,477,000	$ 71,477,000
Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 150,000,000
Credit facility, maturity date	Aug. 1, 2023		Aug. 1, 2023
Outstanding line of credit		$ 150,000,000	$ 150,000,000
Credit facility, interest rate			4.29%
Mortgage Loans [Member]
Debt Instrument [Line Items]
Number of debt instruments paid off | DebtInstrument		12	12
Principal balance of debt instruments paid off		$ 184,700,000	$ 184,700,000

Debt and Derivative Instrumen_5

Debt and Derivative Instruments (Schedule of Principal Payments and Maturities of Company's Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
2018 (remainder of the year)	$ 69
2,019	7,662
2,020	897
2,021	84,271
2,022	230,675
Thereafter	379,576
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	703,150	$ 693,321
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
2,022	128,523
Thereafter	150,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	278,523
Scheduled Principal Payments [Member]
Debt Instrument [Line Items]
2018 (remainder of the year)	69
2,019	215
2,020	897
2,021	1,531
2,022	615
Thereafter	963
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	4,290
Maturities of Mortgage Loans [Member]
Debt Instrument [Line Items]
2,019	7,447
2,021	82,740
2,022	101,537
Thereafter	228,613
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	$ 420,337

Debt and Derivative Instrumen_6

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Derivative [Line Items]
Derivative instrument, notional amount	$ 402,244
Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 13,459
Interest Rate Swap One [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
Interest Rate Swap One [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 173
Interest Rate Swap Two [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
Interest Rate Swap Two [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 1,883
Interest Rate Swap Three [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
Interest Rate Swap Three [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 514
Interest Rate Swap Four [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
Interest Rate Swap Four [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 561
Interest Rate Swap Five [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
Interest Rate Swap Five [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 1,054
Interest Rate Swap Six [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
Interest Rate Swap Six [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 1,249
Interest Rate Swap Seven [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
Interest Rate Swap Seven [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 2,884
Interest Rate Swap Eight [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
Interest Rate Swap Eight [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 3,468
Interest Rate Swap Nine [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
Interest Rate Swap Nine [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 501
Interest Rate Swap Ten [Member]
Derivative [Line Items]
Derivative instrument, date entered	Aug. 23, 2018
Derivative instrument, effective date	Sep. 4, 2018
Derivative instrument, maturity date	Aug. 1, 2023
Derivative instrument, pay fixed interest rate	2.73%	[1]
Derivative instrument, notional amount	$ 60,000
Interest Rate Swap Ten [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 474
Interest Rate Swap Eleven [Member]
Derivative [Line Items]
Derivative instrument, date entered	Aug. 23, 2018
Derivative instrument, effective date	Sep. 4, 2018
Derivative instrument, maturity date	Aug. 1, 2023
Derivative instrument, pay fixed interest rate	2.74%	[1]
Derivative instrument, notional amount	$ 25,000
Interest Rate Swap Eleven [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 196
Interest Rate Swap Twelve [Member]
Derivative [Line Items]
Derivative instrument, date entered	Aug. 23, 2018
Derivative instrument, effective date	Sep. 4, 2018
Derivative instrument, maturity date	Aug. 1, 2023
Derivative instrument, pay fixed interest rate	2.74%	[1]
Derivative instrument, notional amount	$ 25,000
Interest Rate Swap Twelve [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 189
Interest Rate Swap Thirteen [Member]
Derivative [Line Items]
Derivative instrument, date entered	Aug. 23, 2018
Derivative instrument, effective date	Sep. 4, 2018
Derivative instrument, maturity date	Aug. 1, 2023
Derivative instrument, pay fixed interest rate	2.73%	[1]
Derivative instrument, notional amount	$ 40,000
Interest Rate Swap Thirteen [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative assets measured on recurring basis	$ 313
[1]	Receive floating rate index based upon 1 month LIBOR. At September 30, 2018, the 1 month LIBOR was 2.26%.

Debt and Derivative Instrumen_7

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2018
Derivative [Line Items]
Derivative instrument, receive floating rate index	1 month LIBOR
LIBOR [Member]
Derivative [Line Items]
One month floating rate	2.26%

Debt and Derivative Instrumen_8

Debt and Derivative Instruments (Derivatives on Consolidated Statements of Operations and Other Comprehensive Income (Loss) (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion of derivatives	$ 1,121	$ (268)	$ 7,976	$ (1,721)
Reclassification adjustment for amounts included in net gain or loss (effective portion)	$ (245)	507	(300)	2,002
Ineffective portion of derivatives		$ (1)	$ (13)	$ 12

Distributions (Narrative) (Deta

Distributions (Narrative) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Distributions [Abstract]
Amount per share of distributions	$ 0.335	$ 0.00410959
Annualized rate on Estimated Per Share NAV	6.00%

Distributions (Schedule of Dist

Distributions (Schedule of Distributions Paid and Declared) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Distributions [Abstract]
Distributions paid	$ 11,924	$ 13,482	$ 28,388	$ 39,989
Distributions declared	$ 11,924	$ 13,484	$ 35,776	$ 39,896

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Additional shares excluded from the computation of diluted earnings per share	1,460	2,087	2,333	2,751

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Earnout liability outstanding	$ 0	$ 1,050,000	$ 1,553,000	$ 6,856,000

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Change in Earnout Liability for Acquisition of Certain Properties) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Earnout liability-beginning of period	$ 1,050,000	$ 6,856,000
Increases:
Additional earnout liability	816,000
Amortization expense	24,000	28,000
Decreases:
Earnout payments	(1,865,000)	(6,415,000)
Other:
Adjustments to acquisition related costs	(25,000)	1,084,000
Earnout liability – end of period	$ 0	$ 1,553,000

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense of unvested share-based awards	$ 60		$ 60
Weighted average remaining period unrecognized compensation expense related to non-vested	1 year 7 months 6 days
Common stock shares issued upon vesting	1
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 expense of unvested share-based awards	$ 60		$ 60
Weighted average remaining period unrecognized compensation expense related to non-vested	1 year 7 months 6 days
Common stock shares issued upon vesting	1
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	$ 13	$ 9	$ 35	$ 22
Non-Employee Directors [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 13	$ 9	$ 35	$ 22

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of the Restricted Shares and Restricted Share Units) (Details)	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Weighted Average Grant Date Fair Value | $ / shares	$ 78
Granted, Weighted Average Grant Date Fair Value | $ / shares	51
Vested, Weighted Average Grant Date Fair Value | $ / shares	(30)
Outstanding, Weighted Average Grant Date Fair Value | $ / shares	99
Outstanding, Aggregate Intrinsic Value | $ / shares	78
Granted, Aggregate Intrinsic Value | $ / shares	51
Vested, Aggregate Intrinsic Value | $ / shares	(30)
Outstanding, Aggregate Intrinsic Value | $ / shares	$ 99
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares | shares	2,543
Granted, Shares | shares	1,677
Vested, Shares | shares	(996)
Outstanding, Shares | shares	3,224
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares | shares	904
Granted, Shares | shares	624
Vested, Shares | shares	(353)
Outstanding, Shares | shares	1,175

Segment Reporting (Details)

Segment Reporting (Details) - Segment	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting [Abstract]
Number of reportable segments	1	1

Transactions with Related Par_3

Transactions with Related Parties (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Real estate management related costs with related party	[1]	$ 1,515	$ 1,556	$ 4,863	$ 4,711
Due to related parties		2,825		2,825		$ 2,665
General and Administrative Reimbursements [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party	[2]	279	345	1,102	1,319
Due to related parties	[2]	288		288		203
Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party			54	8	273
Acquisition Fees [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party		12	180	28	1,216
Acquisition related costs		12		12		51
Acquisition Related Costs and Fee [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[3]	12	234	36	1,489
Acquisition related costs	[3]	12		12		51
Real Estate Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		1,090	1,178	3,615	3,638
Property Operating Expenses [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		289	282	857	832
Construction Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		67	45	177	98
Due to related parties		70		70		35
Leasing fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		69	51	214	143
Due to related parties		116		116		51
Real Estate Management Costs [Member]
Related Party Transaction [Line Items]
Due to related parties	[1]	186		186		86
Business Management Fee [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[4]	2,338	$ 2,311	7,000	$ 6,871
Due to related parties	[4]	$ 2,339		$ 2,339		$ 2,325
[1]	For each property that is managed by Inland Commercial Real Estate Services LLC (the “Real Estate Manager”) (and its predecessor), 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 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 consolidated statements of operations and comprehensive income (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 consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the 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 $12 related party acquisition costs and fees incurred during the three months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets. Of the $36 related party acquisition costs and fees incurred during the nine months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $24 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). 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 consolidated balance sheets and $52 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Of the $1,489 related party acquisition costs and fees incurred during the nine months ended September 30, 2017, $1,344 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $145 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the 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.

Transactions with Related Par_4

Transactions with Related Parties (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Asset acquisition fee to contract purchase price, percentage				1.50%
Acquisition related costs			$ 62	$ 28	$ 1,262
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]	$ 12	234	$ 36	1,489
Acquisition costs and fees capitalized		$ 12	98	12	1,344
Acquisition related costs			$ 52	$ 24	$ 145
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 $12 related party acquisition costs and fees incurred during the three months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets. Of the $36 related party acquisition costs and fees incurred during the nine months ended September 30, 2018, $12 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $24 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). 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 consolidated balance sheets and $52 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Of the $1,489 related party acquisition costs and fees incurred during the nine months ended September 30, 2017, $1,344 are capitalized as the acquisition of net investment properties in the consolidated balance sheets and $145 of such costs are included in acquisition related costs in the consolidated statements of operations and comprehensive income (loss). Unpaid amounts are included in due to related parties in the consolidated balance sheets.

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Cash Flow Hedges and Classification on Consolidated Balance Sheets) (Details) - Recurring [Member] - Interest Rate Swap Agreements [Member] - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Other Assets [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other assets	$ 13,459	$ 6,136
Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other liabilities		340
Level 2 [Member] | Other Assets [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other assets	$ 13,459	6,136
Level 2 [Member] | Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other liabilities		$ 340

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charges		$ 0		$ 0
Fair value of investment property based on discounted cash flow model term			10 years
Measurement Input, Cap Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Capitalization and discount rate	7		7
Measurement Input, Discount Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Capitalization and discount rate	7.6		7.6
Mainstreet Texas Development Fund, LLC ("Mainstreet JV") [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charges	$ 5,000,000		$ 5,000,000

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Assets Measured at Fair Value on a Non-Recurring Basis) (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Impairment Loss	$ 0		$ 0
Non-recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment in unconsolidated entities		$ 4,589,000
Total Impairment Loss		5,000,000
Non-recurring [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment in unconsolidated entities		4,589,000
Non-recurring [Member] | Investment in Unconsolidated Entities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment in unconsolidated entities		4,589,000
Total Impairment Loss		5,000,000
Non-recurring [Member] | Investment in Unconsolidated Entities [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment in unconsolidated entities		$ 4,589,000

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Subsequent Events [Abstract]
Dividends payable, declared date	Sep. 5, 2018
Amount per share of distributions	$ 0.335	$ 0.00410959
Annualized rate on Estimated Per Share NAV	6.00%
Dividends payable, record date	Sep. 28, 2018
Distributions payable	$ 11,924	$ 4,537

Subsequent Events (Schedule of

Subsequent Events (Schedule of Reinvested and Repurchased Shares) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Oct. 16, 2015
Subsequent Event [Line Items]
Distribution reinvested		$ 13,720
Number of Shares Issued through the DRP		35,338,249		35,498,444	33,534,022
Amount of Shares Repurchased through the SRP		$ 17,084	$ 13,085
Number of Shares Repurchased through the SRP		2,345,045
DRP [Member]
Subsequent Event [Line Items]
Distribution reinvested		$ 13,720	$ 20,415
Subsequent Event [Member] | DRP [Member]
Subsequent Event [Line Items]
Distribution reinvested	$ 5,618
Number of Shares Issued through the DRP	251,431
Subsequent Event [Member] | SRP [Member]
Subsequent Event [Line Items]
Amount of Shares Repurchased through the SRP	$ 5,618
Number of Shares Repurchased through the SRP	253,776