Inland Real Estate Income Trust (INRE) 10-Q 10 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 09, 2021
Cover [Abstract]
Entity Registrant Name	Inland Real Estate Income Trust, Inc.
Entity Central Index Key	0001528985
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
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		36,040,928
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	000-55146
Entity Tax Identification Number	45-3079597
Entity Address, Address Line One	2901 Butterfield Road
Entity Address, City or Town	Oak Brook
Entity Address, State or Province	IL
Entity Address, Country	US
Entity Incorporation, State or Country Code	MD
Entity Address, Postal Zip Code	60523
City Area Code	630
Local Phone Number	218-8000
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investment properties held and used:
Land	$ 267,946	$ 267,946
Building and other improvements	991,045	987,181
Total	1,258,991	1,255,127
Less accumulated depreciation	(236,055)	(207,764)
Net investment properties held and used	1,022,936	1,047,363
Cash and cash equivalents	8,352	12,906
Restricted cash	5,907	1,079
Accounts and rent receivable, net	18,212	21,851
Acquired lease intangible assets, net	61,397	71,539
Operating lease right-of-use asset, net	14,679	15,013
Other assets	6,530	6,299
Total assets	1,138,013	1,176,050
Liabilities:
Mortgages and credit facility payable, net	601,861	628,718
Accounts payable and accrued expenses	10,624	8,977
Operating lease liability	24,304	24,035
Distributions payable	4,882
Acquired intangible liabilities, net	38,948	41,658
Due to related parties	2,555	5,348
Other liabilities	16,362	23,355
Total liabilities	699,536	732,091
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, 35,999,449 and 36,022,368 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	36	36
Additional paid in capital	810,249	810,210
Accumulated distributions and net loss	(360,819)	(348,719)
Accumulated other comprehensive loss	(10,989)	(17,568)
Total stockholders’ equity	438,477	443,959
Total liabilities and stockholders’ equity	$ 1,138,013	$ 1,176,050

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
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	35,999,449	36,022,368
Common stock, shares outstanding	35,999,449	36,022,368

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME ( LOSS ) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income:
Rental income	$ 29,599	$ 27,643	$ 88,971	$ 84,519
Other property income	60	29	170	143
Total income	29,659	27,672	89,141	84,662
Cost and Expenses:
Property operating expenses	5,040	4,460	15,817	13,994
Real estate tax expense	3,784	3,557	11,132	10,979
General and administrative expenses	1,169	1,185	3,400	3,872
Business management fee	2,239	2,231	6,709	6,691
Depreciation and amortization	12,110	13,149	36,783	39,286
Total expenses	24,342	24,582	73,841	74,822
Other Income (Expense):
Interest expense	(5,876)	(6,283)	(17,719)	(19,060)
Interest and other income		2	86	95
Net loss	$ (559)	$ (3,191)	$ (2,333)	$ (9,125)
Net loss per common share, basic and diluted	$ (0.02)	$ (0.09)	$ (0.06)	$ (0.25)
Weighted average number of common shares outstanding, basic and diluted	36,035,194	36,022,221	36,026,879	36,020,594
Comprehensive income (loss):
Net loss	$ (559)	$ (3,191)	$ (2,333)	$ (9,125)
Unrealized (loss) gain on derivatives	(163)	(32)	740	(16,514)
Reclassification adjustment for amounts included in net loss	2,132	1,935	5,839	3,908
Comprehensive income (loss)	$ 1,410	$ (1,288)	$ 4,246	$ (21,731)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total		Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Distributions and Net Loss [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2019	$ 460,519		$ 36	$ 805,722	$ (338,331)	$ (6,908)
Balance, shares at Dec. 31, 2019			35,799,388
Distributions declared	(8,173)	[1]			(8,173)
Rescission of Q1 2020 distribution (See Note 8)	8,173	[1]			8,173
Proceeds from distribution reinvestment plan	4,547			4,547
Proceeds from distribution reinvestment plan, shares			225,940
Shares repurchased	(127)			(127)
Shares repurchased, shares			(6,730)
Unrealized gain (loss) on derivatives	(16,514)					(16,514)
Reclassification adjustment for amounts included in net loss	3,908					3,908
Equity-based compensation	50			50
Equity based compensation, shares			3,623
Net loss	(9,125)				(9,125)
Balance at Sep. 30, 2020	443,258		$ 36	810,192	(347,456)	(19,514)
Balance, shares at Sep. 30, 2020			36,022,221
Balance at Jun. 30, 2020	444,527		$ 36	810,173	(344,265)	(21,417)
Balance, shares at Jun. 30, 2020			36,020,345
Shares repurchased	0
Unrealized gain (loss) on derivatives	(32)					(32)
Reclassification adjustment for amounts included in net loss	1,935					1,935
Equity-based compensation	19			19
Equity based compensation, shares			1,876
Net loss	(3,191)				(3,191)
Balance at Sep. 30, 2020	443,258		$ 36	810,192	(347,456)	(19,514)
Balance, shares at Sep. 30, 2020			36,022,221
Balance at Dec. 31, 2020	$ 443,959		$ 36	810,210	(348,719)	(17,568)
Balance, shares at Dec. 31, 2020	36,022,368		36,022,368
Balance at Jun. 30, 2021	$ 441,941		$ 36	810,242	(355,379)	(12,958)
Balance, shares at Jun. 30, 2021			36,025,578
Balance at Dec. 31, 2020	$ 443,959		$ 36	810,210	(348,719)	(17,568)
Balance, shares at Dec. 31, 2020	36,022,368		36,022,368
Distributions declared	$ (9,767)	[1]			(9,767)
Proceeds from distribution reinvestment plan	1,886			1,886
Proceeds from distribution reinvestment plan, shares			104,328
Shares repurchased	(1,886)			(1,886)
Shares repurchased, shares			(130,457)
Unrealized gain (loss) on derivatives	740					740
Reclassification adjustment for amounts included in net loss	5,839					5,839
Equity-based compensation	39			39
Equity based compensation, shares			3,210
Net loss	(2,333)				(2,333)
Balance at Sep. 30, 2021	$ 438,477		$ 36	810,249	(360,819)	(10,989)
Balance, shares at Sep. 30, 2021	35,999,449		35,999,449
Balance at Jun. 30, 2021	$ 441,941		$ 36	810,242	(355,379)	(12,958)
Balance, shares at Jun. 30, 2021			36,025,578
Distributions declared	(4,881)	[1]			(4,881)
Proceeds from distribution reinvestment plan	1,886			1,886
Proceeds from distribution reinvestment plan, shares			104,328
Shares repurchased	(1,886)			(1,886)
Shares repurchased, shares			(130,457)
Unrealized gain (loss) on derivatives	(163)					(163)
Reclassification adjustment for amounts included in net loss	2,132					2,132
Equity-based compensation	7			7
Net loss	(559)				(559)
Balance at Sep. 30, 2021	$ 438,477		$ 36	$ 810,249	$ (360,819)	$ (10,989)
Balance, shares at Sep. 30, 2021	35,999,449		35,999,449
[1]	The distribution declared during the first quarter of 2020 was rescinded during the second quarter.

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Statement Of Stockholders Equity [Abstract]
Distributions declared per share	$ 0.135600	$ 0.135600	$ 0.271200	$ 0.226875

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss		$ (2,333)	$ (9,125)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		36,783	39,286
Amortization of debt issuance costs and mortgage premiums, net		578	436
Amortization of acquired market leases, net		(488)	(1,324)
Amortization of equity-based compensation		39	50
Reduction in the carrying amount of the right-of-use-asset		334	351
Straight-line income, net		(219)	(1,129)
Other non-cash adjustments		78	31
Changes in assets and liabilities:
Accounts payable and accrued expenses		1,310	2,630
Accounts and rent receivable		3,858	(2,680)
Due to related parties		(2,793)	(1,941)
Operating lease liability		269	252
Other liabilities		(449)	(1,108)
Other assets		(503)	496
Net cash flows provided by operating activities		36,464	26,225
Cash flows from investing activities:
Capital expenditures		(3,869)	(2,863)
Proceeds from sale of investment properties			37,255
Net cash flows (used in) provided by investing activities		(3,869)	34,392
Cash flows from financing activities:
Payment of credit facility		(8,097)	(43,022)
Proceeds from credit facility		72,097	31,000
Payment of mortgages payable		(91,435)	(563)
Payment of debt issuance costs			(273)
Proceeds from the distribution reinvestment plan		1,886	4,547
Shares repurchased		(1,886)	(2,405)
Distributions paid	[1]	(4,886)	(10,841)
Net cash flows used in financing activities		(32,321)	(21,557)
Net increase in cash, cash equivalents and restricted cash		274	39,060
Cash, cash equivalents and restricted cash, at beginning of the period		13,985	5,533
Cash, cash equivalents and restricted cash, at end of period		14,259	44,593
Supplemental disclosure of cash flow information:
Cash paid for interest		17,134	18,617
Supplemental schedule of non-cash investing and financing activities:
Accrued capital expenditures		$ 35	$ 292
[1]	The distribution paid in 2020 was authorized in the fourth quarter of 2019 and paid during the first quarter of 2020 to stockholders of record as of December 31, 2019.

Organization

Organization	9 Months Ended
	Sep. 30, 2021
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 is primarily focused on owning retail properties and targets a portfolio of 100% grocery-anchored properties The Company has no employees. The Company is managed by IREIT Business Manager & Advisor, Inc. (the “Business Manager”), an indirect wholly owned subsidiary of Inland Real Estate Investment Corporation (the “Sponsor”), pursuant to a Business Management Agreement with the Business Manager. The Company’s share repurchase program (as amended, the “SRP”) was amended and restated, effective March 21, 2019, and the Business Management Agreement with the Business Manager was amended and restated on February 11, 2019 to, among other things, eliminate all future acquisition and disposition fees. On March 3, 2020, the Company’s SRP was further amended and restated (the “Third A&R SRP”), which became effective on April 10, 2020, as further described below in Note 3 – “Equity”. Due to the uncertainty surrounding the COVID-19 pandemic and the need to preserve cash for the payment of operating and other expenses, such as debt payments, the Company stopped paying distributions in the second quarter of 2020 and suspended its DRP and SRP. The suspension of the DRP was effective on June 6, 2020 and the suspension of the SRP was effective on June 26, 2020. On March 5, 2021, as reported in the Company’s Form 8-K filed with the Securities and Exchange Commission on the same date, the Company announced that the Company’s board of directors unanimously approved: (i) an estimated per share net asset value (the “Estimated Per Share NAV”) as of December 31, 2020; (ii) the same per share purchase price for shares issued under the Company’s distribution reinvestment plan (as amended, the “DRP”) beginning with the first distribution payment to stockholders upon resumption of distributions and the DRP until the Company announces a new Estimated Per Share NAV, and (iii) that, in accordance with the SRP, beginning with repurchases when the Company resumes the SRP and until the Company announces a new Estimated Per Share NAV, any shares accepted for ordinary repurchases and “exceptional repurchases” will be repurchased at 80% of the Estimated Per Share NAV. On June 29, 2021, the Company announced the reinstatement, and lifting of the suspension, of its DRP. The effective date of the DRP reinstatement was July 22, 2021. The Company also announced the reinstatement and lifting of the suspension of its share repurchase program and its adoption of the fourth amendment and restatement of the program, with the first repurchase having occurred on August 16, 2021. See Note 3 – “Equity” for additional details. At September 30, 2021, the Company owned 44 retail properties, totaling 6,481,262 square feet. The properties are located in 21 states. At September 30, 2021, the portfolio had a weighted average physical occupancy of 94.1% and economic occupancy of 94.6%.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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, 2020, as filed with the Securities and Exchange Commission on March 18, 2021, 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, 2021, except as noted below. General The 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. Significant Risks and Uncertainties related to COVID-19 Pandemic Currently, one of the most significant risks and uncertainties is the potential further adverse effect of the current pandemic of the novel coronavirus, or COVID-19. A number of our tenants had temporarily closed their stores during 2020 and requested rent deferral or rent abatement during this pandemic. The Company’s deferred rent balance is $814 at September 30, 2021, which is significantly lower than the deferred rent balance of $4,457 at December 31, 2020 due primarily to collections during the nine months ended September 30, 2021. However, the extent to which the COVID-19 pandemic further impacts the Company’s operations and those of our tenants will depend on future developments, including the impact of the emergence of the Delta variant of COVID-19 in the U.S. The impact cannot be predicted with confidence, including the scope, severity and duration of the pandemic’s variants, the actions taken to contain the pandemic’s variants or mitigate their impact, and the direct and indirect economic effects of the pandemic’s variants and containment measures, among others. Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A grants relief to entities, allowing them an election to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases. An entity that makes this election can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company has elected to apply such relief and avail itself of the election to avoid performing a lease by lease analysis. Restricted Cash 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, 2021 2020 Cash and cash equivalents $ 8,352 $ 43,514 Restricted cash 5,907 1,079 Total cash, cash equivalents, and restricted cash $ 14,259 $ 44,593

Equity

Equity	9 Months Ended
	Sep. 30, 2021
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 sold 33,534,022 shares of common stock generating gross proceeds of $834,399 from the Offering. As of September 30, 2021, there were 35,999,449 shares of common stock outstanding including 5,678,544 shares issued through the DRP, net of 3,223,091 shares repurchased through the SRP. 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 Through the DRP, the Company provides stockholders with the option to purchase additional shares from the Company by automatically reinvesting cash distributions, 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. Due to the uncertainty surrounding the COVID-19 pandemic and the need to preserve cash for the payment of operating and other expenses, such as debt payments, the Company stopped paying distributions in the second quarter of 2020 and suspended its DRP and SRP. The suspension of the DRP was effective on June 6, 2020 and the suspension of the SRP was effective on June 26, 2020. On June 29, 2021, the Company announced the reinstatement and lifting of the suspension of its DRP. The effective date of the DRP reinstatement was July 22, 2021. There were $1,886 and zero distributions reinvested through the DRP during the three months ended September 30, 2021 and 2020, respectively. Distributions reinvested through the DRP were $1,886 and $4,547 for the nine months ended September 30, 2021 and 2020, respectively. See Note 1 – “Organization” for discussion on the suspension of the DRP during 2020 and the first half of 2021. Share Repurchase Program The Company adopted the SRP effective October 18, 2012, under which 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. The SRP may be amended or terminated at the Company’s sole discretion. In the case of repurchases made upon the death of a stockholder or qualifying disability (“Exceptional Repurchases”), as defined in the SRP, the one year holding period does not apply. On February 11, 2019, the Company’s board of directors adopted a second amended and restated SRP, effective March 21, 2019, which reduced the price the Company was authorized to make ordinary repurchases from a range of 92.5% to 100% of the “share price” down to 80% of the “share price.” The “share price” is defined in the second amended and restated SRP as an amount equal to the lesser of: (A) $25, as adjusted under certain circumstances, including, among other things, if the applicable shares were purchased from the Company at a discounted price; or (B) the most recently disclosed estimated value per share. On March 3, 2020 the Company’s board of directors adopted the Third A&R SRP. Under the Third A&R SRP, the Company is authorized to make ordinary repurchases and Exceptional Repurchases at a price equal to 80.0% of the “share price,” which is defined in the Third A&R SRP the same way as described above for the second amended and restated SRP. Prior to the amendment, t he Company was authorized to make Exceptional Repurchases at a price equal to 100 % of the “share price.” The Third A&R SRP provides the Company’s board of directors with the discretion to set the funding limit for share repurchases. The Third A&R SRP limits the dollar amount for any repurchases made by the Company each calendar quarter to an amount equal to a percentage determined in the sole discretion of the board on a quarterly basis that will not be less than 50% of the net proceeds from the DRP during the applicable quarter. As the Company’s board of directors has not authorized distributions since December 2019, and there have been no distributions to reinvest through the DRP, there has been no net proceeds from the DRP available to fund the repurchase of shares by the Company through the SRP. See Note 1 – “Organization” for further discussion on the suspension of the SRP. The Company continues to limit the number of shares repurchased during any calendar year to 5% of the number of shares outstanding on December 31st of the previous calendar year, as adjusted for any stock splits or other combinations. On June 29, 2021, the Company announced the reinstatement and lifting of the suspension of its share repurchase program and its adoption of the fourth amendment and restatement of the program. The effective date of the SRP reinstatement and the Fourth Amended and Restated Share Repurchase Program (the “Fourth SRP”) was August 12, 2021. Pursuant to the Fourth SRP, any written request for treatment as an Exceptional Repurchase due to the death or qualifying disability of an owner that occurred between June 1, 2019 and May 31, 2020 (inclusive) will be timely received by the Company no later than January 31, 2022, and any written request for treatment as an Exceptional Repurchase due to the death or qualifying disability of an owner that occurred between June 1, 2020 and July 31, 2021, (inclusive) will be timely received if received by the Company no later than July 31, 2022. The first repurchase under the SRP following its reinstatement, subject to the funding limit and the other terms and conditions of the SRP, was on August 16, 2021. If either or both of the aforementioned funding or repurchase limitations prevent the Company from repurchasing all of the shares offered for repurchase during a calendar quarter, the Company will repurchase shares on a pro rata basis within each of the following categories up to the repurchase limitations in the following order: (a) first, all Exceptional Repurchases and (b) second, all ordinary repurchases. The SRP will immediately terminate if the Company’s shares become listed for trading on a national securities exchange. Repurchases through the SRP were $1,886 and zero for the three months ended September 30, 2021 and 2020, respectively. Repurchases through the SRP were $1,886 and $127 for the nine months ended September 30, 2021 and 2020, respectively. There was zero liability related to the SRP at September 30, 2021 and December 31, 2020. See Note 1 – “Organization” for further discussion on the suspension of the SRP that was still in effect as of December 31, 2020.

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2021
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Dispositions	NOTE 4 – DISPOSITIONS The Company sold three properties in January 2020 and collected proceeds of $37,255 net of selling costs upon completion of the three sales.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	NOTE 5 – LEASES The Company is lessor under approximately 700 retail operating leases. The remaining lease terms for the Company’s leases range from less than one year to 16 years. The Company considers the date on which it makes a leased space available to a lessee as the commencement date of the lease. At commencement, the Company determines the lease classification utilizing the classification tests under ASC 842. Options to extend a lease are included in the lease term when it is reasonably certain that the tenant will exercise its option to extend. Termination penalties are included in income when there is a termination agreement, all the conditions of the agreement have been met and amounts due are considered collectible. Such termination fees are recognized on a straight-line basis over the remaining lease term in rental income. If an operating lease is modified and the modification is not accounted for as a separate contract, the Company accounts for the modification as if it were a termination of the existing lease and the creation of a new lease. The Company considers any prepaid or accrued rentals relating to the original lease as part of the lease payments for the modified lease. Most of the revenue from the Company’s properties consists of rents received under long-term operating leases. Most leases require the tenant to pay fixed base rent paid monthly in advance, and to reimburse the Company for the tenant’s pro rata share of certain operating expenses including real estate taxes, special assessments, insurance, utilities, common area maintenance, management fees, and certain building repairs paid by the Company and recoverable under the terms of the lease. Under these leases, the Company pays all expenses and is reimbursed by the tenant for the tenant’s pro rata share of recoverable expenses paid. Certain other tenants are subject to net leases which provide that the tenant is responsible for fixed base rent as well as all costs and expenses associated with occupancy. Under net leases where all expenses are paid directly by the tenant rather than the landlord, such expenses are not included in the consolidated statements of operations and comprehensive income (loss). Under leases where all expenses are paid by the Company, subject to reimbursement by the tenant, the expenses are included within property operating expenses. As of January 1, 2019, the date on which the Company adopted the new leasing standard, reimbursements for common area maintenance are considered non-lease components that are permitted to be combined with rental income. The combined lease component and reimbursements for insurance and taxes are reported as rental income on the consolidated statements of operations and comprehensive income (loss). Rental income related to the Company's operating leases is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Rental income - fixed payments $ 23,649 $ 21,609 $ 70,970 $ 66,577 Rental income - variable payments (a) 5,796 5,538 17,513 16,618 Amortization of acquired market leases, net 154 496 488 1,324 Rental income $ 29,599 $ 27,643 $ 88,971 $ 84,519 (a) Primarily includes tenant recovery income for real estate taxes, common area maintenance and insurance. The Company continues to monitor the impact of the COVID-19 pandemic on the collectability of lease obligations. As of September 30, 2021, the Company’s accounts and rent receivable, net balance was $18,212, which was net of an allowance for bad debts of $2,050 and included $814 of deferred rent receivable related to COVID-19 agreements negotiated with tenants. As of December 31, 2020, the Company’s accounts and rent receivable, net balance was $21,851, which was net of an allowance for bad debts of $4,638 and included $4,457 of deferred rent receivable related to COVID-19 agreements negotiated with tenants. Such agreements generally allow tenants to defer the payment of a portion of rent with no substantive changes to the consideration in the original lease. Consistent with the guidance in the Lease Modification Q&A issued by the FASB, such deferrals affect the timing, but not the amount, of the lease obligations. The Company is accounting for these deferrals as if no changes to the lease were made. Under this accounting, the Company increases its rent receivable as tenant obligations accrue and continues to recognize rental income.

Acquired Intangible Assets and

Acquired Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2021
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, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Intangible assets: Acquired in-place lease value $ 156,918 $ 156,918 Acquired above market lease value 45,742 45,742 Accumulated amortization (141,263 ) (131,121 ) Acquired lease intangibles, net $ 61,397 $ 71,539 Intangible liabilities: Acquired below market lease value $ 70,260 $ 70,260 Accumulated amortization (31,312 ) (28,602 ) Acquired below market lease intangibles, net $ 38,948 $ 41,658 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 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 lease value and below market lease value is summarized below: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Amortization recorded as amortization expense: Acquired in-place lease value $ 2,518 $ 3,647 $ 7,920 $ 10,680 Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (748 ) $ (760 ) $ (2,222 ) $ (2,289 ) Acquired below market leases 902 1,256 2,710 3,613 Net rental income increase $ 154 $ 496 $ 488 $ 1,324 Estimated amortization of the respective intangible lease assets and liabilities as of September 30, 2021 for each of the five succeeding years and thereafter is as follows: Acquired In-Place Leases Above Market Leases Below Market Leases 2021 (remainder of year) $ 2,450 $ 745 $ 890 2022 7,630 2,657 3,385 2023 6,429 2,468 3,118 2024 5,403 2,305 2,936 2025 3,530 2,030 2,737 Thereafter 14,349 11,401 25,882 Total $ 39,791 $ 21,606 $ 38,948

Debt and Derivative Instruments

Debt and Derivative Instruments	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt and Derivative Instruments	NOTE 7 – DEBT AND DERIVATIVE INSTRUMENTS As of September 30, 2021 and December 31, 2020, the Company had the following mortgages and credit facility payable: September 30, 2021 December 31, 2020 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 124,847 3.91 % $ 163,738 4.25 % Variable rate mortgages payable with swap agreements 199,052 3.42 % 251,595 3.33 % Variable rate mortgages payable without swap agreements 684 1.69 % 684 1.75 % Mortgages payable $ 324,583 3.61 % $ 416,017 3.69 % Credit facility payable 279,000 3.18 % 215,000 3.89 % Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps $ 603,583 3.41 % $ 631,017 3.76 % Add: Unamortized mortgage premiums 40 419 Less: Unamortized debt issuance costs (1,762 ) (2,718 ) Total debt $ 601,861 $ 628,718 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 $603,583 and $631,017 as of September 30, 2021 and December 31, 2020, respectively, and its estimated fair value was $598,310 and $625,751 as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, scheduled principal payments and maturities on the Company’s debt were as follows: September 30, 2021 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2021 (remainder of the year) $ 401 $ 6,247 $ — $ 6,648 2022 615 101,537 129,000 231,152 2023 326 77,438 150,000 227,764 2024 341 — — 341 2025 295 92,656 — 92,951 Thereafter — 44,727 — 44,727 Total $ 1,978 $ 322,605 $ 279,000 $ 603,583 Credit Facility Payable The Company’s credit facility (the “Credit Facility”) consists of a $200,000 revolving credit facility (the “Revolving Credit Facility”) and a $150,000 term loan (the “Term Loan”) and has an accordion feature that allows for an increase in available borrowings up to $700,000, subject to certain conditions. At September 30, 2021, the Company had $129,000 outstanding under the Revolving Credit Facility and $150,000 outstanding under the Term Loan. At September 30, 2021, the interest rates on the Revolving Credit Facility and the Term Loan were 1.90% 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 under the Company’s control. The Term Loan matures on August 1, 2023. As of September 30, 2021, the Company had a maximum amount of $71,000 available for borrowing under the Revolving Credit Facility, subject to the terms and conditions of the Amended and Restated Credit Agreement that governs the Credit Facility, including compliance with the covenants which could further limit the amount available. 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, 2021, there were 30 properties included in the pool of unencumbered properties. 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. On September 29, 2020, the Company entered into a first amendment to the Company’s Amended and Restated Credit Agreement dated as of August 1, 2018 with KeyBank National Association individually and as administrative agent, KeyBanc Capital Markets Inc., PNC Capital Markets LLC and Merrill Lynch Pierce, Fenner & Smith Incorporated (now BofA Securities, Inc.) as joint lead arrangers, and other lenders from time to time parties to the agreement. This amendment provided a waiver of the minimum tangible net worth requirement for three consecutive quarters beginning with the quarter ended September 30, 2020. In exchange, our leverage ratio may be increased only to 62.5% (formerly 65%) for two consecutive fiscal quarters two times prior to the facility termination date, the Company was restricted, during this waiver period, from making any share repurchases or distributions without lender approval, a LIBOR floor of 25 basis points will remain in effect for the remainder of the term, and the Company paid a set fee to the arranging bank and all the participating lenders. As of September 30, 2021, the Company is in compliance with all financial covenants related to the Credit Facility as amended. Mortgages Payable The mortgage loans require compliance with certain covenants, such as debt service ratios, investment restrictions and distribution limitations. As of September 30, 2021, the Company was current on all of its debt service payments. As of September 30, 2021, there were two mortgage loans with aggregate unpaid principal balances of $62,089 that have covenant violations that were not events of default and only required cash maintenance accounts be established for their two mortgaged properties. For one of those two properties and an additional mortgaged property, the mortgage loans have covenants that required the Company to calculate an assumed debt service coverage ratio (the “Assumed DSCR”) and to make principal paydowns or deposit additional collateral to achieve a minimum Assumed DSCR of at least 0.975 to 1.00. On September 30, 2021, the Company drew on its Credit Facility and used cash on hand to make principal paydowns on those two loans totaling $13,793, and are now in compliance with those covenants. A ll other mortgage loans were in compliance with their financial covenants . All of the Company’s mortgage loans are secured by first mortgages on the respective real estate assets. As of September 30, 2021 , the weighted average years to maturity for the Company’s mortgages payable was 2.5 years . For mortgage loans maturing in the next twelve months, the Company intends to repay amounts due with cash flows from operati ng activities , proceeds from refinancing such mortgage loans, cash on hand or proceeds available under the Revolving Credit Facility. 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, 2021. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value at September 30, 2021 Liabilities February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 (49 ) April 7, 2015 April 7, 2015 April 7, 2022 1.74 % 48,001 (407 ) September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 (237 ) October 2, 2015 November 1, 2015 November 1, 2022 1.79 % 13,100 (238 ) December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 (1,609 ) June 7, 2016 July 1, 2016 July 1, 2023 1.42 % 41,348 (844 ) July 21, 2016 August 1, 2016 August 1, 2023 1.30 % 36,089 (675 ) June 5, 2017 May 31, 2017 May 15, 2022 1.90 % 14,700 (165 ) August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 60,000 (2,705 ) August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 (1,127 ) August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 (1,129 ) August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 40,000 (1,804 ) $ 349,052 $ (10,989 ) (a) Receive floating rate index based upon one-month LIBOR. At September 30, 2021, the one-month LIBOR was 0.08%. 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, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2021 2020 2021 2020 Effective portion of derivatives $ (163 ) $ (32 ) $ 740 $ (16,514 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ 2,132 $ 1,935 $ 5,839 $ 3,908 The total amount of interest expense presented on the consolidated statements of operations and comprehensive income (loss) was $5,876 and $6,283, for the three months ended September 30, 2021 and 2020, respectively. The total amount of interest expense presented on the consolidated statements of operations and comprehensive income (loss) was $17,719 and $19,060 for the nine months ended September 30, 2021 and 2020, respectively. The location of the net gain or loss reclassified into income from accumulated other comprehensive income (loss) is reported in interest expense on the consolidated statements of operations and comprehensive income (loss). The amount that is expected to be reclassified from accumulated other comprehensive income (loss) into income in the next twelve months is $6,568.

Distributions

Distributions	9 Months Ended
	Sep. 30, 2021
Distributions [Abstract]
Distributions	NOTE 8 – DISTRIBUTIONS In 2020, d ue to the uncertainty surrounding the COVID-19 pandemic and the need to preserve cash for the payment of operating and other expenses, during the second quarter the Company’s board of directors rescinded the distribution that was declared in the first quarter of 2020, and the Company did not declare any additional distributions until The table below presents the distributions paid, declared and rescinded during the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Distributions paid (1) $ 4,886 $ — $ 4,886 $ 10,841 Distributions declared (2) $ 4,881 $ — $ 9,767 $ 8,173 Distributions rescinded (2) $ — $ — $ — $ (8,173 ) (1) The distribution paid in 2020 was authorized in the fourth quarter of 2019 and paid during the first quarter of 2020 to stockholders of record as of December 31, 2019. (2) The distribution declared during the first quarter of 2020 was rescinded during the second quarter.

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) per Share	NOTE 9 – EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share (“EPS”) is 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. As a result of a net loss in the three and nine months ended September 30, 2021, 5,385 shares and 4,501 shares, respectively, were excluded from the computation of diluted EPS, because they would have been antidilutive. As a result of the net loss in the three and nine months ended September 30, 2020, 2,098 shares and 3,952 shares, respectively, were excluded from the computation of diluted EPS, because they would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 10 – COMMITMENTS AND CONTINGENCIES 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, 2021
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 are issued to non-employee directors as compensation. Each restricted share and restricted share unit entitles the holder to receive one common share when it vests. Restricted shares are included in common stock outstanding on the date of vesting. Restricted share units are included in common stock outstanding on the date they are transferred to the non-employee director or their beneficiary. The grant-date value of the restricted shares and restricted share units is amortized over the vesting period representing the requisite service period. Compensation expense associated with the restricted shares and restricted share units issued to the non-employee directors was $7 and $39, in the aggregate, for the three and nine months ended September 30, 2021, respectively. As of September 30, 2021, the Company had $28 of unrecognized compensation expense related to the unvested restricted shares and restricted share units, in the aggregate. The weighted average remaining period that compensation expense related to unvested restricted shares and restricted share units will be recognized is 1.2 years A summary table of the status of the restricted shares and restricted share units is presented below: Restricted Shares Restricted Share Units Outstanding at December 31, 2020 6,457 683 Granted — 5 Vested (2,774 ) (436 ) Outstanding at September 30, 2021 3,683 252

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020.

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2021
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, 2020. 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 2021 2020 2021 2020 September 30, 2021 December 31, 2020 General and administrative reimbursements (a) $ 351 $ 415 $ 1,063 $ 1,205 $ 220 $ 237 Real estate management fees $ 1,153 $ 1,105 $ 3,542 $ 2,974 $ — $ 387 Property operating expenses 329 357 1,001 1,123 — 178 Construction management fees — 17 5 26 3 4 Leasing fees 87 52 216 158 94 77 Total real estate management related costs (b) $ 1,569 $ 1,531 $ 4,764 $ 4,281 $ 97 $ 646 Business management fees (c) $ 2,239 $ 2,231 $ 6,709 $ 6,691 $ 2,238 $ 4,465 (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 ) 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). ( c ) 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. Unpaid amounts are included in due to related parties on the consolidated balance sheets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
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, 2021 and December 31, 2020, respectively. Fair Value Level 1 Level 2 Level 3 Total September 30, 2021 Interest rate swap agreements - Other assets $ — $ — $ — $ — Interest rate swap agreements - Other liabilities $ — $ 10,989 $ — $ 10,989 December 31, 2020 Interest rate swap agreements - Other assets $ — $ — $ — $ — Interest rate swap agreements - Other liabilities $ — $ 17,568 $ — $ 17,568 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 15 – SUBSEQUENT EVENTS In connection with the preparation of its financial statements, the Company has evaluated events that occurred subsequent to September 30, 2021 through the date on which these financial statements were issued to determine whether any of these events required disclosure in the financial statements. Share Repurchases On October 18, 2021, the Company funded the repurchase of 61,566 shares for $890 under the SRP.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
General	General The 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.
Significant Risks and Uncertainties related to COVID-19 Pandemic	Significant Risks and Uncertainties related to COVID-19 Pandemic Currently, one of the most significant risks and uncertainties is the potential further adverse effect of the current pandemic of the novel coronavirus, or COVID-19. A number of our tenants had temporarily closed their stores during 2020 and requested rent deferral or rent abatement during this pandemic. The Company’s deferred rent balance is $814 at September 30, 2021, which is significantly lower than the deferred rent balance of $4,457 at December 31, 2020 due primarily to collections during the nine months ended September 30, 2021. However, the extent to which the COVID-19 pandemic further impacts the Company’s operations and those of our tenants will depend on future developments, including the impact of the emergence of the Delta variant of COVID-19 in the U.S. The impact cannot be predicted with confidence, including the scope, severity and duration of the pandemic’s variants, the actions taken to contain the pandemic’s variants or mitigate their impact, and the direct and indirect economic effects of the pandemic’s variants and containment measures, among others.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A grants relief to entities, allowing them an election to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under Topic 842, Leases. An entity that makes this election can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company has elected to apply such relief and avail itself of the election to avoid performing a lease by lease analysis.
Restricted Cash	Restricted Cash 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, 2021 2020 Cash and cash equivalents $ 8,352 $ 43,514 Restricted cash 5,907 1,079 Total cash, cash equivalents, and restricted cash $ 14,259 $ 44,593

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 2020 Cash and cash equivalents $ 8,352 $ 43,514 Restricted cash 5,907 1,079 Total cash, cash equivalents, and restricted cash $ 14,259 $ 44,593

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Summary of Rental Income Related to Operating Leases	Rental income related to the Company's operating leases is comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Rental income - fixed payments $ 23,649 $ 21,609 $ 70,970 $ 66,577 Rental income - variable payments (a) 5,796 5,538 17,513 16,618 Amortization of acquired market leases, net 154 496 488 1,324 Rental income $ 29,599 $ 27,643 $ 88,971 $ 84,519

Acquired Intangible Assets an_2

Acquired Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Intangible assets: Acquired in-place lease value $ 156,918 $ 156,918 Acquired above market lease value 45,742 45,742 Accumulated amortization (141,263 ) (131,121 ) Acquired lease intangibles, net $ 61,397 $ 71,539 Intangible liabilities: Acquired below market lease value $ 70,260 $ 70,260 Accumulated amortization (31,312 ) (28,602 ) Acquired below market lease intangibles, net $ 38,948 $ 41,658
Schedule of Amortization of Acquired In Place Lease Value, Above Market and Below Market Lease Values	Amortization pertaining to acquired in-place lease value, above market lease value and below market lease value is summarized below: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Amortization recorded as amortization expense: Acquired in-place lease value $ 2,518 $ 3,647 $ 7,920 $ 10,680 Amortization recorded as a (reduction) increase to rental income: Acquired above market leases $ (748 ) $ (760 ) $ (2,222 ) $ (2,289 ) Acquired below market leases 902 1,256 2,710 3,613 Net rental income increase $ 154 $ 496 $ 488 $ 1,324
Schedule of Estimated Amortization of Intangible Lease Assets and Liabilities	Estimated amortization of the respective intangible lease assets and liabilities as of September 30, 2021 for each of the five succeeding years and thereafter is as follows: Acquired In-Place Leases Above Market Leases Below Market Leases 2021 (remainder of year) $ 2,450 $ 745 $ 890 2022 7,630 2,657 3,385 2023 6,429 2,468 3,118 2024 5,403 2,305 2,936 2025 3,530 2,030 2,737 Thereafter 14,349 11,401 25,882 Total $ 39,791 $ 21,606 $ 38,948

Debt and Derivative Instrumen_2

Debt and Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Mortgages and Credit Facilities Payable	As of September 30, 2021 and December 31, 2020, the Company had the following mortgages and credit facility payable: September 30, 2021 December 31, 2020 Type of Debt Principal Amount Weighted Average Interest Rate Principal Amount Weighted Average Interest Rate Fixed rate mortgages payable $ 124,847 3.91 % $ 163,738 4.25 % Variable rate mortgages payable with swap agreements 199,052 3.42 % 251,595 3.33 % Variable rate mortgages payable without swap agreements 684 1.69 % 684 1.75 % Mortgages payable $ 324,583 3.61 % $ 416,017 3.69 % Credit facility payable 279,000 3.18 % 215,000 3.89 % Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps $ 603,583 3.41 % $ 631,017 3.76 % Add: Unamortized mortgage premiums 40 419 Less: Unamortized debt issuance costs (1,762 ) (2,718 ) Total debt $ 601,861 $ 628,718
Schedule of Principal Payments and Maturities of Company's Debt	As of September 30, 2021, scheduled principal payments and maturities on the Company’s debt were as follows: September 30, 2021 Scheduled Principal Payments and Maturities by Year: Scheduled Principal Payments Maturities of Mortgage Loans Maturity of Credit Facility Total 2021 (remainder of the year) $ 401 $ 6,247 $ — $ 6,648 2022 615 101,537 129,000 231,152 2023 326 77,438 150,000 227,764 2024 341 — — 341 2025 295 92,656 — 92,951 Thereafter — 44,727 — 44,727 Total $ 1,978 $ 322,605 $ 279,000 $ 603,583
Summary of Interest Rate Swap Contracts Outstanding	The following table summarizes the Company’s interest rate swap contracts outstanding as of September 30, 2021. Date Entered Effective Date Maturity Date Pay Fixed Rate (a) Notional Amount Fair Value at September 30, 2021 Liabilities February 11, 2015 March 2, 2015 March 1, 2022 2.02 % 6,114 (49 ) April 7, 2015 April 7, 2015 April 7, 2022 1.74 % 48,001 (407 ) September 17, 2015 September 17, 2015 September 17, 2022 1.90 % 13,700 (237 ) October 2, 2015 November 1, 2015 November 1, 2022 1.79 % 13,100 (238 ) December 23, 2015 December 23, 2015 January 2, 2026 2.30 % 26,000 (1,609 ) June 7, 2016 July 1, 2016 July 1, 2023 1.42 % 41,348 (844 ) July 21, 2016 August 1, 2016 August 1, 2023 1.30 % 36,089 (675 ) June 5, 2017 May 31, 2017 May 15, 2022 1.90 % 14,700 (165 ) August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 60,000 (2,705 ) August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 (1,127 ) August 23, 2018 September 4, 2018 August 1, 2023 2.74 % 25,000 (1,129 ) August 23, 2018 September 4, 2018 August 1, 2023 2.73 % 40,000 (1,804 ) $ 349,052 $ (10,989 ) (a) Receive floating rate index based upon one-month LIBOR. At September 30, 2021, the one-month LIBOR was 0.08%.
Schedule of Effect of Derivatives on Consolidated Statements of Operations and Other Comprehensive Loss	The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2021 2020 2021 2020 Effective portion of derivatives $ (163 ) $ (32 ) $ 740 $ (16,514 ) Reclassification adjustment for amounts included in net gain or loss (effective portion) $ 2,132 $ 1,935 $ 5,839 $ 3,908

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 30, 2021
Distributions [Abstract]
Schedule of Distributions Paid, Declared and Rescinded	The table below presents the distributions paid, declared and rescinded during the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Distributions paid (1) $ 4,886 $ — $ 4,886 $ 10,841 Distributions declared (2) $ 4,881 $ — $ 9,767 $ 8,173 Distributions rescinded (2) $ — $ — $ — $ (8,173 ) (1) The distribution paid in 2020 was authorized in the fourth quarter of 2019 and paid during the first quarter of 2020 to stockholders of record as of December 31, 2019. (2) The distribution declared during the first quarter of 2020 was rescinded during the second quarter.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
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 Outstanding at December 31, 2020 6,457 683 Granted — 5 Vested (2,774 ) (436 ) Outstanding at September 30, 2021 3,683 252

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2020. 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 2021 2020 2021 2020 September 30, 2021 December 31, 2020 General and administrative reimbursements (a) $ 351 $ 415 $ 1,063 $ 1,205 $ 220 $ 237 Real estate management fees $ 1,153 $ 1,105 $ 3,542 $ 2,974 $ — $ 387 Property operating expenses 329 357 1,001 1,123 — 178 Construction management fees — 17 5 26 3 4 Leasing fees 87 52 216 158 94 77 Total real estate management related costs (b) $ 1,569 $ 1,531 $ 4,764 $ 4,281 $ 97 $ 646 Business management fees (c) $ 2,239 $ 2,231 $ 6,709 $ 6,691 $ 2,238 $ 4,465 (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 ) 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). ( c ) 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. Unpaid amounts are included in due to related parties on the consolidated balance sheets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on a Recurring Basis	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, 2021 and December 31, 2020, respectively. Fair Value Level 1 Level 2 Level 3 Total September 30, 2021 Interest rate swap agreements - Other assets $ — $ — $ — $ — Interest rate swap agreements - Other liabilities $ — $ 10,989 $ — $ 10,989 December 31, 2020 Interest rate swap agreements - Other assets $ — $ — $ — $ — Interest rate swap agreements - Other liabilities $ — $ 17,568 $ — $ 17,568

Organization (Narrative) (Detai

Organization (Narrative) (Details)	9 Months Ended
	Sep. 30, 2021ft²PropertyState
Organization [Line Items]
Target percentage of grocery-anchored property	100.00%
Number of retail properties owned | Property	44
Square footage of real estate properties owned | ft²	6,481,262
Number of states in which company owns real estate properties | State	21
Weighted average physical occupancy rate of property portfolio	94.10%
Weighted average economic occupancy rate of property portfolio	94.60%
Share Repurchase Program [Member]
Organization [Line Items]
Suspension effective date	Jun. 26, 2020
Percentage of share price on repurchase of shares	80.00%
Announcement date for reinstatement of Share Repurchase Program	Jun. 29, 2021
First share repurchase following the reinstatement of Share Repurchase Program occurred	Aug. 16, 2021
DRP [Member]
Organization [Line Items]
Suspension effective date	Jun. 6, 2020
Announcement date for reinstatement of DRP	Jun. 29, 2021
Effective date of reinstatement of DRP	Jul. 22, 2021

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
COVID-19 [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Deferred rent receivable	$ 814	$ 4,457

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Reconciliation of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 8,352	$ 12,906	$ 43,514
Restricted cash	5,907	1,079	1,079
Total cash, cash equivalents, and restricted cash	$ 14,259	$ 13,985	$ 44,593	$ 5,533

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended		36 Months Ended	107 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Oct. 16, 2015	Sep. 30, 2021	Dec. 31, 2020	Mar. 03, 2020	Mar. 21, 2019	Mar. 20, 2019
Equity [Line Items]
Common stock, shares sold	35,999,449			35,999,449		33,534,022	35,999,449	36,022,368
Proceeds from offering						$ 834,399,000
Common stock, shares outstanding	35,999,449			35,999,449			35,999,449	36,022,368
Distribution reinvestment plan, shares							5,678,544
Shares repurchased through the share repurchase program							3,223,091
Distribution reinvested	$ 1,886,000			$ 1,886,000	$ 4,547,000
Stock repurchase program, amount	1,886,000	$ 0		1,886,000	127,000
Liabilities	699,536,000			$ 699,536,000			$ 699,536,000	$ 732,091,000
Third Amended and Restated Share Repurchase Program [Member]
Equity [Line Items]
Limit on share repurchases as a percentage of proceeds of the distribution reinvestment program				50.00%
Description of share repurchase program				Under the Third A&R SRP, the Company is authorized to make ordinary repurchases and Exceptional Repurchases at a price equal to 80.0% of the "share price," which is defined in the Third A&R SRP the same way as described above for the second amended and restated SRP. Prior to the amendment, the Company was authorized to make Exceptional Repurchases at a price equal to 100% of the "share price." The Third A&R SRP provides the Company's board of directors with the discretion to set the funding limit for share repurchases. The Third A&R SRP limits the dollar amount for any repurchases made by the Company each calendar quarter to an amount equal to a percentage determined in the sole discretion of the board on a quarterly basis that will not be less than 50% of the net proceeds from the DRP during the applicable quarter. As the Company's board of directors has not authorized distributions since December 2019, and there have been no distributions to reinvest through the DRP, there has been no net proceeds from the DRP available to fund the repurchase of shares by the Company through the SRP. See Note 1 - "Organization" for further discussion on the suspension of the SRP. The Company continues to limit the number of shares repurchased during any calendar year to 5% of the number of shares outstanding on December 31st of the previous calendar year, as adjusted for any stock splits or other combinations. If either or both of the repurchase limitations prevent the Company from repurchasing all of the shares offered for repurchase during a calendar quarter, the Company will repurchase shares, on a pro rata basis within each category below, in accordance with the repurchase limitations in the following order: (a) first, all Exceptional Repurchases and (b) second, all ordinary repurchases.
Third Amended and Restated Share Repurchase Program [Member] | Exceptional Repurchases [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares									80.00%
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%
Prior Share Repurchase Agreement [Member] | Exceptional Repurchases [Member]
Equity [Line Items]
Percentage of share price on repurchase of shares									100.00%
Stock Repurchase Program [Member]
Equity [Line Items]
Liabilities	0			$ 0			$ 0	$ 0
Minimum [Member]
Equity [Line Items]
Stock repurchase program, to be held				1 year
Maximum [Member] | Second Amended and Restated Share Repurchase Program [Member]
Equity [Line Items]
Stock repurchase program per share amount										$ 25
Percentage of share price on repurchase of shares										80.00%
Maximum [Member] | Third Amended and Restated Share Repurchase Program [Member]
Equity [Line Items]
Percentage of prior fiscal year end outstanding shares that may be repurchased				5.00%
DRP [Member]
Equity [Line Items]
Distribution reinvested	$ 1,886,000	$ 0	$ 0	$ 1,886,000	$ 4,547,000
Net proceeds from distribution reinvestment			$ 0

Dispositions - Additional Infor

Dispositions - Additional Information (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Jan. 31, 2020USD ($)Property	Sep. 30, 2020USD ($)
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Number of properties sold | Property	3
Cash proceeds from sale of property | $	$ 37,255	$ 37,255

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)OperatingLease	Dec. 31, 2020USD ($)
Operating Leased Assets [Line Items]
Number of retail operating leases | OperatingLease	700
Accounts and rent receivable, net	$ 18,212	$ 21,851
COVID-19 [Member]
Operating Leased Assets [Line Items]
Accounts and rent receivable, net	18,212	21,851
Allowance for bad debts	2,050	4,638
Deferred rent receivable	$ 814	$ 4,457
Minimum [Member]
Operating Leased Assets [Line Items]
Lessor, operating leases, remaining lease term	1 year
Maximum [Member]
Operating Leased Assets [Line Items]
Lessor, operating leases, remaining lease term	16 years

Leases - Summary of Rental Inco

Leases - Summary of Rental Income Related to Operating Leases (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating Leases Lease Income [Abstract]
Rental income - fixed payments		$ 23,649	$ 21,609	$ 70,970	$ 66,577
Rental income - variable payments	[1]	5,796	5,538	17,513	16,618
Amortization of acquired market leases, net		154	496	488	1,324
Rental income		$ 29,599	$ 27,643	$ 88,971	$ 84,519
[1]	Primarily includes tenant recovery income for real estate taxes, common area maintenance and insurance.

Acquired Intangible Assets an_3

Acquired Intangible Assets and Liabilities (Schedule of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Intangible assets:
Accumulated amortization	$ (141,263)	$ (131,121)
Acquired lease intangibles, net	61,397	71,539
Intangible liabilities:
Acquired below market lease value	70,260	70,260
Accumulated amortization	(31,312)	(28,602)
Acquired below market lease intangibles, net	38,948	41,658
Acquired in-place lease value [Member]
Intangible assets:
Acquired intangible assets	156,918	156,918
Acquired lease intangibles, net	39,791
Acquired above market lease value [Member]
Intangible assets:
Acquired intangible assets	45,742	$ 45,742
Acquired lease intangibles, net	$ 21,606

Acquired Intangible Assets an_4

Acquired Intangible Assets and Liabilities (Schedule of Amortization of Acquired In Place Lease Value, Above Market and Below Market Lease Values) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 154	$ 496	$ 488	$ 1,324
Acquired in-place lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as amortization expense	2,518	3,647	7,920	10,680
Acquired above market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	(748)	(760)	(2,222)	(2,289)
Acquired below market lease value [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Amortization recorded as a (reduction) increase to rental income	$ 902	$ 1,256	$ 2,710	$ 3,613

Acquired Intangible Assets an_5

Acquired Intangible Assets and Liabilities (Schedule of Estimated Amortization of Intangible Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Future amortization for acquired in-place and above market lease assets:
Acquired lease intangibles, net	$ 61,397	$ 71,539
Future amortization for below market lease liabilities:
2021 (remainder of year)	890
2022	3,385
2023	3,118
2024	2,936
2025	2,737
Thereafter	25,882
Total	38,948
Acquired in-place lease value [Member]
Future amortization for acquired in-place and above market lease assets:
2021 (remainder of year)	2,450
2022	7,630
2023	6,429
2024	5,403
2025	3,530
Thereafter	14,349
Acquired lease intangibles, net	39,791
Above Market Leases [Member]
Future amortization for acquired in-place and above market lease assets:
2021 (remainder of year)	745
2022	2,657
2023	2,468
2024	2,305
2025	2,030
Thereafter	11,401
Acquired lease intangibles, net	$ 21,606

Debt and Derivative Instrumen_3

Debt and Derivative Instruments (Schedule of Mortgages and Credit Facility Payable) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 324,583	$ 416,017
Credit facility payable	279,000	215,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	603,583	631,017
Add: Unamortized mortgage premiums	40	419
Less: Unamortized debt issuance costs	(1,762)	(2,718)
Total debt	$ 601,861	$ 628,718
Mortgages Payable, Weighted Average Interest Rate	3.61%	3.69%
Credit Facilities Payable, Weighted Average Interest Rate	3.18%	3.89%
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps, Weighted Average Interest Rate	3.41%	3.76%
Fixed rate mortgages payable [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 124,847	$ 163,738
Mortgages Payable, Weighted Average Interest Rate	3.91%	4.25%
Variable rate mortgages payable with swap agreements [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 199,052	$ 251,595
Mortgages Payable, Weighted Average Interest Rate	3.42%	3.33%
Variable rate mortgages payable without swap agreements [Member]
Mortgage Loans On Real Estate [Line Items]
Mortgages payable	$ 684	$ 684
Mortgages Payable, Weighted Average Interest Rate	1.69%	1.75%

Debt and Derivative Instrumen_4

Debt and Derivative Instruments (Narrative) (Details)	Sep. 29, 2020	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Property	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt principal balance		$ 603,583,000		$ 603,583,000		$ 631,017,000
Estimated fair value of debt		598,310,000		598,310,000		625,751,000
Outstanding line of credit		279,000,000		279,000,000		$ 215,000,000
Outstanding balance repaid				8,097,000	$ 43,022,000
Interest expense		5,876,000	$ 6,283,000	17,719,000	$ 19,060,000
Amount expected to be reclassified from accumulated other comprehensive income (loss) into income in the next twelve months				$ 6,568,000
Mortgages Payable [Member]
Debt Instrument [Line Items]
Debt, covenant compliance				the Company was current on all of its debt service payments. As of September 30, 2021, there were two mortgage loans with aggregate unpaid principal balances of $62,089 that have covenant violations that were not events of default and only required cash maintenance accounts be established for their two mortgaged properties. For one of those two properties and an additional mortgaged property, the mortgage loans have covenants that required the Company to calculate an assumed debt service coverage ratio (the “Assumed DSCR”) and to make principal paydowns or deposit additional collateral to achieve a minimum Assumed DSCR of at least 0.975 to 1.00. On September 30, 2021, the Company drew on its Credit Facility and used cash on hand to make principal paydowns on those two loans totaling $13,793, and are now in compliance with those covenants.
Weighted Average Years to Maturity				2 years 6 months
Aggregate unpaid principal balances for mortgage loans with cash maintenance accounts for financial covenant violations		62,089,000		$ 62,089,000
Properties with covenant violations | Property				2
Principal payments				$ 13,793,000
Minimum [Member] | Mortgages Payable [Member]
Debt Instrument [Line Items]
Debt service coverage ratio				0.975
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		200,000,000		$ 200,000,000
Line of credit accordion feature to increase available borrowings		700,000,000		700,000,000
Outstanding line of credit		129,000,000		$ 129,000,000
Credit facility, interest rate				1.90%
Credit facility, maturity date				Aug. 1, 2022
Line of credit facility, expiration date, extension period				1 year
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit facility available for borrowing		71,000,000		$ 71,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		150,000,000		150,000,000
Outstanding line of credit		$ 150,000,000		$ 150,000,000
Credit facility, interest rate				4.29%
Credit facility, maturity date				Aug. 1, 2023
Credit Facility [Member]
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property				30
Debt, covenant compliance				the Company is in compliance with all financial covenants related to the Credit Facility as amended.
Maximum leverage ratio	65.00%		62.50%		62.50%
Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
LIBOR floor rate	0.25%

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, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2021 (remainder of the year)	$ 6,648
2022	231,152
2023	227,764
2024	341
2025	92,951
Thereafter	44,727
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	603,583	$ 631,017
Maturity of Credit Facility [Member]
Debt Instrument [Line Items]
2022	129,000
2023	150,000
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	279,000
Scheduled Principal Payments [Member]
Debt Instrument [Line Items]
2021 (remainder of the year)	401
2022	615
2023	326
2024	341
2025	295
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	1,978
Maturities of Mortgage Loans [Member]
Debt Instrument [Line Items]
2021 (remainder of the year)	6,247
2022	101,537
2023	77,438
2025	92,656
Thereafter	44,727
Total debt before unamortized mortgage premiums and debt issuance costs including impact of interest rate swaps	$ 322,605

Debt and Derivative Instrumen_6

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
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 liability, notional amount	$ 6,114
Interest Rate Swap One [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (49)
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 liability, notional amount	$ 48,001
Interest Rate Swap Two [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (407)
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 liability, notional amount	$ 13,700
Interest Rate Swap Three [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (237)
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 liability, notional amount	$ 13,100
Interest Rate Swap Four [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (238)
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 liability, notional amount	$ 26,000
Interest Rate Swap Five [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (1,609)
Interest Rate Swap Six [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 liability, notional amount	$ 41,348
Interest Rate Swap Six [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (844)
Interest Rate Swap Seven [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 liability, notional amount	$ 36,089
Interest Rate Swap Seven [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (675)
Interest Rate Swap Eight [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 liability, notional amount	$ 14,700
Interest Rate Swap Eight [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (165)
Interest Rate Swap Nine [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 liability, notional amount	$ 60,000
Interest Rate Swap Nine [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (2,705)
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	2.74%	[1]
Derivative liability, notional amount	$ 25,000
Interest Rate Swap Ten [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (1,127)
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 liability, notional amount	$ 25,000
Interest Rate Swap Eleven [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (1,129)
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	2.73%	[1]
Derivative liability, notional amount	$ 40,000
Interest Rate Swap Twelve [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	(1,804)
Interest Rate Swap Thirteen [Member]
Derivative [Line Items]
Derivative liability, notional amount	349,052
Interest Rate Swap Thirteen [Member] | Recurring [Member]
Derivative [Line Items]
Fair value of derivative liabilities measured on recurring basis	$ (10,989)
[1]	Receive floating rate index based upon one-month LIBOR. At September 30, 2021, the one-month LIBOR was 0.08%.

Debt and Derivative Instrumen_7

Debt and Derivative Instruments (Summary of Interest Rate Swap Contracts Outstanding) (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2021
Derivative [Line Items]
Derivative instrument, receive floating rate index	one-month LIBOR
LIBOR [Member]
Derivative [Line Items]
One month floating rate	0.08%

Debt and Derivative Instrumen_8

Debt and Derivative Instruments (Schedule of Effect of 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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion of derivatives	$ (163)	$ (32)	$ 740	$ (16,514)
Reclassification adjustment for amounts included in net gain or loss (effective portion)	$ 2,132	$ 1,935	$ 5,839	$ 3,908

Distributions (Narrative) (Deta

Distributions (Narrative) (Details) - USD ($)	Oct. 07, 2021	Jun. 29, 2021	Sep. 30, 2021		Jun. 30, 2021	Sep. 30, 2021		Sep. 30, 2020		Jun. 29, 2021
Distributions [Line Items]
Amount per share of distributions			$ 0.135600		$ 0.135600	$ 0.271200		$ 0.226875
Dividends payable, date declared		Jun. 29, 2021
Dividends payable, date of record		Jun. 30, 2021
Dividends payable, date to be paid		Jul. 26, 2021
Distributions declared			$ 4,881,000	[1]		$ 9,767,000	[1]	$ 8,173,000	[1]	$ 0
Subsequent Event [Member]
Distributions [Line Items]
Dividends payable, date of record	Sep. 30, 2021
Dividends payable, date to be paid	Oct. 7, 2021
[1]	The distribution declared during the first quarter of 2020 was rescinded during the second quarter.

Distributions (Schedule of Dist

Distributions (Schedule of Distributions Paid, Declared and Rescinded) (Details) - USD ($)		3 Months Ended		9 Months Ended				15 Months Ended
		Sep. 30, 2021		Sep. 30, 2021		Sep. 30, 2020		Jun. 29, 2021
Distributions [Abstract]
Distributions paid	[1]	$ 4,886,000		$ 4,886,000		$ 10,841,000
Distributions declared		$ 4,881,000	[2]	$ 9,767,000	[2]	8,173,000	[2]	$ 0
Distributions rescinded	[2]					$ (8,173,000)
[1]	The distribution paid in 2020 was authorized in the fourth quarter of 2019 and paid during the first quarter of 2020 to stockholders of record as of December 31, 2019.
[2]	The distribution declared during the first quarter of 2020 was rescinded during the second quarter.

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Additional shares excluded from the computation of diluted earnings per share	5,385	2,098	4,501	3,952

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining period unrecognized compensation expense related to non-vested			1 year 2 months 12 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]
Weighted average remaining period unrecognized compensation expense related to non-vested			1 year 2 months 12 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
Restricted Shares and Restricted Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense of unvested share-based awards	$ 28,000		$ 28,000
Total fair value at vesting date	0	$ 0	54,000	$ 46,000
Non-Employee Directors [Member] | Restricted Shares and Restricted Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 7,000		$ 39,000

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of the Restricted Shares and Restricted Share Units) (Details)	9 Months Ended
	Sep. 30, 2021shares
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares	6,457
Vested, Shares	(2,774)
Outstanding, Shares	3,683
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares	683
Granted, Shares	5
Vested, Shares	(436)
Outstanding, Shares	252

Segment Reporting (Details)

Segment Reporting (Details) - Segment	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Due to related parties		$ 2,555		$ 2,555		$ 5,348
General and Administrative Reimbursements [Member]
Related Party Transaction [Line Items]
General and administrative expenses incurred with related party	[1]	351	$ 415	1,063	$ 1,205
Due to related parties	[1]	220		220		237
Real Estate Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		1,153	1,105	3,542	2,974
Due to related parties						387
Property Operating Expenses [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		329	357	1,001	1,123
Due to related parties						178
Construction Management Fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party			17	5	26
Due to related parties		3		3		4
Leasing fees [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party		87	52	216	158
Due to related parties		94		94		77
Real Estate Management Costs [Member]
Related Party Transaction [Line Items]
Real estate management related costs with related party	[2]	1,569	1,531	4,764	4,281
Due to related parties	[2]	97		97		646
Business Management Fee [Member]
Related Party Transaction [Line Items]
Expenses incurred with related party	[3]	2,239	$ 2,231	6,709	$ 6,691
Due to related parties	[3]	$ 2,238		$ 2,238		$ 4,465
[1]	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.
[2]	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).
[3]	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. Unpaid amounts are included in due to related parties on the consolidated balance sheets.

Transactions with Related Par_4

Transactions with Related Parties (Narrative) (Details)	9 Months Ended
	Sep. 30, 2021
Related Party Transaction [Line Items]
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%
Monthly Real Estate Management Fee Of Single Tenant Property [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage of gross income	1.90%
Monthly Real Estate Management Fee Of Any Other Property [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage of gross income	3.90%

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value Assets and Liabilities Measured on a Recurring Basis) (Details) - Recurring [Member] - Interest Rate Swap Agreements [Member] - Other Liabilities [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other liabilities	$ 10,989	$ 17,568
Level 2 [Member]
Derivatives Fair Value [Line Items]
Interest rate swap agreements - Other liabilities	$ 10,989	$ 17,568

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ in Thousands	Oct. 18, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021
Subsequent Event [Line Items]
Shares repurchased				3,223,091
Payments for repurchase of shares		$ 1,886	$ 2,405
Share Repurchase Program [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Shares repurchased	61,566
Payments for repurchase of shares	$ 890