Necessity Retail REIT (RTL) 10-Q1 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Jul. 15, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'AMERICAN REALTY CAPITAL TRUST V, INC.	'
Entity Central Index Key	'0001568162	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	64,448,643

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
ASSETS	'	'
Land	$303,803	$147,899
Buildings, fixtures and improvements	1,667,179	868,700
Acquired intangible lease assets	227,453	130,473
Total real estate investments, at cost	2,198,435	1,147,072
Less: accumulated depreciation and amortization	-62,367	-14,947
Total real estate investments, net	2,136,068	1,132,125
Cash and cash equivalents	25,009	101,176
Investment securities, at fair value	35,984	58,566
Deposits for real estate acquisitions	0	33,035
Prepaid expenses and other assets	12,011	14,584
Deferred costs, net	16,516	7,889
Total assets	2,225,588	1,347,375
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Mortgage notes payable	470,681	8,830
Mortgage premiums, net	25,885	334
Credit facility	423,000	0
Below-market lease liabilities, net	910	909
Accounts payable and accrued expenses	6,402	15,447
Deferred rent and other liabilities	5,616	1,216
Distributions payable	8,712	8,825
Total liabilities	941,206	35,561
Preferred stock, $0.01 par value per share, 50,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value per share, 300,000,000 shares authorized, 64,236,659 and 62,985,937 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively	642	630
Additional paid-in capital	1,412,896	1,383,066
Accumulated other comprehensive income (loss)	323	-6,981
Accumulated deficit	-129,479	-64,901
Total stockholders' equity	1,284,382	1,311,814
Total liabilities and stockholders' equity	$2,225,588	$1,347,375

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	64,236,659	62,985,937
Common stock, outstanding (in shares)	64,236,659	62,985,937

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		5 Months Ended	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014
Revenues:	'	'	'	'
Rental income	$39,427	$29	$29	$66,301
Operating expense reimbursements	3,074	6	6	6,472
Total revenues	42,501	35	35	72,773
Operating expenses:	'	'	'	'
Property operating	3,432	6	6	6,959
Acquisition and transaction related	4,087	112	112	18,619
General and administrative	1,659	113	142	2,753
Depreciation and amortization	28,345	19	19	47,401
Total operating expenses	37,523	250	279	75,732
Operating income (loss)	4,978	-215	-244	-2,959
Other (expense) income:	'	'	'	'
Interest expense	-7,723	0	0	-11,167
Interest income	158	0	0	161
Income from investment securities	606	0	0	1,561
Gain (loss) on sale of investment securities	109	0	0	-57
Total other expense, net	-6,850	0	0	-9,502
Net loss	-1,872	-215	-244	-12,461
Other comprehensive income (loss):	'	'	'	'
Change in unrealized income on investment securities	2,073	0	0	7,304
Comprehensive income (loss)	$201	($215)	($244)	($5,157)
Basic and diluted weighted-average shares outstanding (in shares)	64,018,318	5,173,574	3,100,904	63,359,596
Basic and diluted net loss per share (in dollars per share)	($0.03)	($0.04)	($0.08)	($0.20)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
In Thousands, except Share data, unless otherwise specified	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance, beginning of period at Dec. 31, 2013	$1,311,814	$630	$1,383,066	($6,981)	($64,901)
Balance, beginning of period (in shares) at Dec. 31, 2013	'	62,985,937	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Common stock offering costs, commissions and dealer manager fees	207	'	207	'	'
Common stock issued through distribution reinvestment plan (in shares)	'	1,267,057	'	'	'
Common stock issued through distribution reinvestment plan	30,127	12	30,115	'	'
Common stock repurchases (in shares)	'	-20,334	'	'	'
Common stock repurchases	-503	'	-503	'	'
Share-based compensation (in shares)	'	3,999	'	'	'
Share-based compensation	11	'	11	'	'
Distributions declared	-52,117	'	'	'	-52,117
Net loss	-12,461	'	'	'	-12,461
Other comprehensive loss	7,304	'	'	7,304	'
Balance, end of period at Jun. 30, 2014	$1,284,382	$642	$1,412,896	$323	($129,479)
Balance, end of period (in shares) at Jun. 30, 2014	'	64,236,659	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	5 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014
Cash flows from operating activities:	'	'
Net loss	($244)	($12,461)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	'	'
Depreciation	15	37,204
Amortization of in-place lease assets	4	10,197
Amortization of deferred financing costs	0	1,972
Amortization of mortgage premiums	0	-2,311
Amortization of above-market lease assets and accretion of below-market lease liabilities, net	0	20
Share-based compensation	42	11
Loss on sale of investment securities	0	57
Prepaid expenses and other assets	-50	2,613
Accounts payable and accrued expenses	121	929
Deferred rent and other liabilities	0	4,400
Net cash provided by (used in) operating activities	-112	42,631
Cash flows from investing activities:	'	'
Investments in real estate and other assets	-2,243	-538,130
Deposits for real estate acquisitions	-2,171	0
Proceeds from the sale of investment securities	0	29,829
Net cash used in investing activities	-4,414	-508,301
Cash flows from financing activities:	'	'
Payments of mortgage notes payable	0	-387
Proceeds from credit facility	0	423,000
Payments of deferred financing costs	0	-10,599
Proceeds from issuances of common stock	395,423	127
Payments of offering costs and fees related to stock issuances, net	-45,132	-31
Common stock repurchases	0	-337
Distributions paid	-173	-22,103
Advances from affiliate, net	443	0
Restricted cash	0	-167
Net cash provided by financing activities	350,561	389,503
Net change in cash and cash equivalents	346,035	-76,167
Cash and cash equivalents, beginning of period	0	101,176
Cash and cash equivalents, end of period	346,035	25,009
Supplemental Disclosures:	'	'
Cash paid for interest	0	9,024
Cash paid for income taxes	0	361
Non-Cash Investing and Financing Activities:	'	'
Mortgage notes payable assumed or used to acquire investments in real estate	0	462,238
Premiums on assumed mortgage notes payable	0	27,862
Common stock issued through distribution reinvestment plan	$226	$30,127

Organization

Organization	6 Months Ended
Organization	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization
	American Realty Capital Trust V, Inc. (the "Company"), incorporated on January 22, 2013, is a Maryland corporation that intends to elect and qualify to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes beginning with the taxable year ended December 31, 2013. On April 4, 2013, the Company commenced its ongoing initial public offering (the "IPO") on a "reasonable best efforts" basis of up to 68.0 million shares of common stock, $0.01 par value per share, at a price of $25.00 per share, subject to certain volume and other discounts, pursuant to a registration statement on Form S-11, as amended (File No. 333-187092) (the "Registration Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The Registration Statement also covered up to 14.7 million shares of common stock available pursuant to a distribution reinvestment plan (the "DRIP"), under which the Company's common stockholders could elect to have their distributions reinvested in additional shares of the Company's common stock.
	On April 25, 2013, the Company received and accepted aggregate subscriptions in excess of the minimum of $2.0 million in shares of common stock, broke escrow and issued shares of common stock to its initial investors who were admitted as stockholders. As permitted under the Company's Registration Statement, the Company reallocated the remaining 14.5 million DRIP shares available under the Registration Statement to the primary offering. Concurrent with such reallocation, the Company registered an additional 14.7 million shares to be issued under the DRIP pursuant to a registration statement on Form S-11, as amended (File No. 333-191255), which became effective on October 5, 2013. The IPO closed on October 31, 2013. As of June 30, 2014, the Company had 64.2 million shares of common stock outstanding, including unvested restricted shares and shares issued pursuant to the DRIP, and had received total gross proceeds from the IPO and the DRIP of $1.6 billion. As of June 30, 2014, the aggregate value of all share issuances and subscriptions of common stock outstanding was $1.6 billion, based on a per share value of $25.00 (or $23.75 for shares issued pursuant to the DRIP).
	Until the date (the "NAV pricing date") on which the Company files its second quarterly financial filing with the SEC, pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), following the earlier to occur of (i) the Company's acquisition of at least $1.4 billion in total portfolio assets and (ii) April 4, 2015, which is two years from the effective date of the IPO, the purchase price per share for shares of common stock issued pursuant to the DRIP are initially equal to $23.75 per share, or 95.0% of the purchase price of shares of common stock in the IPO. Thereafter, the per share purchase price pursuant to the DRIP will vary quarterly and will be equal to the Company's net asset value ("NAV") divided by the number of shares outstanding as of the end of business on the first day of each fiscal quarter, after giving effect to any share purchases or repurchases effected in the prior quarter ("Per Share NAV").
	The Company has acquired a diversified portfolio of commercial properties comprised primarily of freestanding single-tenant retail properties that are net leased to investment grade and other creditworthy tenants. All properties are operated by the Company or by the Company jointly with another party. The Company may also originate or acquire first mortgage loans secured by real estate. The Company purchased its first property and commenced active operations on April 29, 2013. As of June 30, 2014, the Company owned 463 properties with an aggregate purchase price of $2.2 billion, comprised of 13.1 million rentable square feet that were 100.0% leased with a weighted-average remaining lease term of 10.1 years.
	Substantially all of the Company's business is conducted through American Realty Capital Operating Partnership V, L.P. (the "OP"), a Delaware limited partnership. The Company is the sole general partner and holds substantially all the units of limited partner interests in the OP ("OP Units"). American Realty Capital Trust V Special Limited Partner, LLC (the "Special Limited Partner"), an entity controlled by AR Capital, LLC (the "Sponsor"), contributed $2,020 to the OP in exchange for 90 OP Units, which represents a nominal percentage of the aggregate OP ownership. After holding the OP Units for a period of one year, or upon liquidation of the OP or sale of substantially all of the assets of the OP, holders of OP Units have the right to convert OP Units for the cash value of a corresponding number of shares of the Company's common stock or, at the option of the OP, a corresponding number of shares of the Company's common stock, in accordance with the limited partnership agreement of the OP. The remaining rights of the limited partner interests are limited, however, and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets.
	The Company has no employees. The Company has retained American Realty Capital Advisors V, LLC (the "Advisor") to manage the Company's affairs on a day-to-day basis. American Realty Capital Properties V, LLC (the "Property Manager") serves as the Company's property manager. Realty Capital Securities, LLC (the "Dealer Manager") served as the dealer manager of the IPO. The Advisor and Property Manager are wholly owned subsidiaries of, and the Dealer Manager is under common control with, the Sponsor, and, as a result of which, they are related parties of the Company. Each has received and/or may receive compensation, fees and other expense reimbursements for services related to the IPO and the investment and management of the Company's assets. Such entities have received or may receive, as applicable, fees during the offering, acquisition, operational and liquidation stages.
	During the second quarter of 2014, the Company announced that it engaged J.P. Morgan Securities LLC and RCS Capital, the investment banking division of the Dealer Manager, as financial advisors to assist the Company in evaluating potential strategic alternatives.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	The accompanying consolidated financial statements of the Company included herein were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to this Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information furnished includes all adjustments and accruals of a normal recurring nature, which, in the opinion of management, are necessary for a fair presentation of results for the interim periods. All intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results for the entire year or any subsequent interim periods.
	These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of December 31, 2013 and for the period from January 22, 2013 (date of inception) to December 31, 2013, which are included in the Company's Annual Report on Form 10-K filed with the SEC on March 7, 2014. There have been no significant changes to the Company's significant accounting policies during the six months ended June 30, 2014, other than the updates described below.
	Recently Issued Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In April 2014, the FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2014, and has applied the provisions prospectively. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In May 2014, the FASB issued revised guidance relating to revenue recognition. Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is not permitted under GAAP. The revised guidance allows entities to apply the full retrospective or modified retrospective transition method upon adoption. The Company has not yet selected a transition method and is currently evaluating the impact of the new guidance.

Real_Estate_Investments

Real Estate Investments	6 Months Ended
	Jun. 30, 2014
Real Estate Investments, Net [Abstract]	'
Real Estate Investments	'
	Real Estate Investments
	The following table presents the allocation of assets acquired and liabilities assumed during the six months ended June 30, 2014 and the period from January 22, 2013 (date of inception) to June 30, 2013:


	(Dollar amounts in thousands)		Six Months Ended June 30, 2014				Period from
							22-Jan-13
							(date of inception) to
							30-Jun-13
	Real estate investments, at cost:
	Land		$	155,904			$	288

	Buildings, fixtures and improvements		798,479				1,632

	Total tangible assets		954,383				1,920

	Acquired intangibles:
	In-place leases		96,980				323

	Total assets acquired		1,051,363				2,243

	Mortgage notes payable assumed		(462,238		)		—

	Premiums on mortgages assumed		(27,862		)		—

	Deposits paid in prior periods		(33,035		)		—

	Cash paid for acquired real estate investments, at cost		$	528,228		(1)	$	2,243

	Number of properties purchased		224				2

	_____________________________________

	-1	Excludes cash paid for real estate investments financed through accounts payable in prior periods of $9.9 million.
	Real estate investments, at cost of $798.5 million have been provisionally allocated amongst buildings, fixtures and improvements pending receipt and review of final appraisals and other information being prepared by third-party specialists.
	The following table presents unaudited pro forma information as if the acquisitions during the six months ended June 30, 2014 had been consummated on January 22, 2013 (date of inception). Additionally, the unaudited pro forma net income (loss) was adjusted to reclassify acquisition and transaction related expense of $17.0 million from the six months ended June 30, 2014 to the period from January 22, 2013 (date of inception) to June 30, 2013:


	(In thousands)		Six Months Ended June 30, 2014				Period from
							22-Jan-13
							(date of inception) to
							30-Jun-13
	Pro forma revenues		$	87,447			$	33,045

	Pro forma net income (loss) attributable to stockholders		$	4,535			$	(17,404	)

	The following table presents future minimum base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items:


	(In thousands)		Future Minimum
			Base Rent Payments
	July 1, 2014 to December 31, 2014		$	76,277

	2015		154,207

	2016		156,970

	2017		159,368

	2018		130,936

	Thereafter		968,264

			$	1,646,022

The following table lists the tenants (including, for this purpose, all affiliates of such tenants) whose annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis for all portfolio properties as of June 30, 2014 and 2013:


		June 30,
Tenant		2014		2013
SunTrust Bank		17.90%		*
Sanofi US		11.60%		*
C&S Wholesale Grocer		10.40%		*
Dollar General		*		100.00%
____________________________

*	Tenant's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the date specified.
The termination, delinquency or non-renewal of leases by one or more of the above tenants may have a material adverse effect on revenues. No other tenant represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of June 30, 2014 and 2013.
The following table lists the states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of June 30, 2014 and 2013:


		June 30,
State		2014		2013
New Jersey		20.30%		*
Georgia		11.20%		*
Missouri		*		50.60%
Texas		*		49.40%
____________________________

*	State's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the date specified.
The Company did not own properties in any other state that in total represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of June 30, 2014 and 2013.

Investment_Securities

Investment Securities	6 Months Ended
	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Investment Securities	'
	Investment Securities
	As of June 30, 2014, the Company has investments in redeemable preferred stock and senior notes, with an aggregate fair value of $36.0 million. These investments are considered available-for-sale securities and therefore increases or decreases in the fair value of these investments are recorded in accumulated other comprehensive income (loss) as a component of stockholders' equity on the consolidated balance sheets, unless the securities are considered to be permanently impaired, at which time the losses would be reclassified to expense.
	The following table details the unrealized gains and losses on investment securities as of June 30, 2014 and December 31, 2013:


	(In thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	June 30, 2014	$	35,661	$	412	$	(89	)	$	35,984

	31-Dec-13	$	65,547	$	—	$	(6,981	)	$	58,566

	Unrealized losses as of June 30, 2014 were considered temporary and therefore no impairment was recorded during the three and six months ended June 30, 2014.
	During three months ended June 30, 2014, the Company sold investments in redeemable preferred stock with an aggregate cost basis of $20.1 million for $20.2 million, resulting in a realized gain on sale of investment securities of $0.1 million. During the six months ended June 30, 2014, the Company sold investments in redeemable preferred stock and senior notes with an aggregate cost basis of $29.9 million for $29.8 million, resulting in a realized loss on sale of investment securities of $0.1 million.
	The Company's preferred stock investments are redeemable at the respective issuer's option after five years from issuance. The senior notes have a weighted-average maturity of 28.1 years and a weighted-average interest rate of 5.7% as of June 30, 2014.

Credit_Facility

Credit Facility	6 Months Ended
Credit Facility	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Credit Facility	'
	Credit Facility
	On September 23, 2013, the Company, through the OP, entered into a credit agreement (the "Credit Agreement") relating to a credit facility (the "Credit Facility") that provides for aggregate revolving loan borrowings of up to $200.0 million (subject to borrowing base availability), with a $25.0 million swingline subfacility and a $20.0 million letter of credit subfacility. Through amendments to the Credit Agreement, the OP increased commitments under the Credit Facility to $750.0 million as of June 30, 2014. As of June 30, 2014, the outstanding balance under the Credit Facility was $423.0 million and the Company's unused borrowing capacity was $229.8 million, based on the assets assigned to the Credit Facility. Availability of borrowings is based on a pool of eligible unencumbered real estate assets. As of December 31, 2013, the Company had no outstanding borrowings under the Credit Facility.
	Borrowings under the Credit Facility bear interest, at the OP's election, at either (i) the base rate (which is defined in the Credit Agreement as the greatest of (a) the prime rate in effect on such day, (b) the federal funds effective rate in effect on such day plus 0.50%, and (c) LIBOR for a one month interest period plus 1.0%) plus an applicable spread ranging from 0.60% to 1.20%, depending on the Company's consolidated leverage ratio, or (ii) LIBOR plus an applicable spread ranging from 1.60% to 2.20%, depending on the Company's consolidated leverage ratio. The Credit Facility requires an unused fee per annum of 0.25% and 0.15%, if the unused balance of the Credit Facility exceeds, or is equal to or less than, 50.0% of the available facility, respectively.
	The Credit Facility provides for monthly interest payments for each base rate loan and periodic interest payments for each LIBOR loan, based upon the applicable interest period with respect to such LIBOR loan, with all principal outstanding being due on the maturity date. The Credit Facility will mature on September 23, 2017, provided that the OP, subject to certain conditions, may elect to extend the maturity date one year to September 23, 2018. The Credit Facility may be prepaid at any time, in whole or in part, without premium or penalty. In the event of a default, the lenders have the right to terminate their obligations under the Credit Facility and to accelerate the payment on any unpaid principal amount of all outstanding loans. Certain of the Company's subsidiaries and certain subsidiaries of the OP guarantee, and the equity of certain subsidiaries of the OP have been pledged as collateral for, the obligations under the Credit Facility.
	The Credit Facility requires the Company to meet certain financial covenants, including the maintenance of certain financial ratios (such as specified debt to equity and debt service coverage ratios) as well as the maintenance of a minimum net worth. As of June 30, 2014, the Company was in compliance with the financial covenants under the Credit Agreement.

Mortgage_Notes_Payable

Mortgage Notes Payable	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Mortgage Notes Payable	'
	Mortgage Notes Payable
	The Company's mortgage notes payable as of June 30, 2014 and December 31, 2013 consist of the following:


					Outstanding Loan Amount as of				Effective Interest Rate
	Portfolio		Encumbered Properties		June 30,		December 31,					Interest Rate	Maturity
					2014		2013
					(In thousands)		(In thousands)
	SAAB Sensis I		1		$	8,677	$	8,830	6.01	%		Fixed	Apr. 2025

	SunTrust Bank II		30		25,000		—		5.5	%		Fixed	Jul. 2021

	C&S Wholesale Grocer I		4		82,313		—		5.56	%		Fixed	Apr. 2017

	SunTrust Bank III		121		99,821		—		5.5	%		Fixed	Jul. 2021

	SunTrust Bank IV		30		25,000		—		5.5	%		Fixed	Jul. 2021

	Sanofi US I		1		190,000		—		5.83	%		Fixed	Dec. 2015

	Stop & Shop I		4		39,870		—		5.63	%		Fixed	Jun. 2021

	Total		191		$	470,681	$	8,830	5.66	%	(1)

	_____________________________________

	-1	Calculated on a weighted-average basis for all mortgages outstanding as of June 30, 2014.
	The following table summarizes the scheduled aggregate principal payments on mortgage notes payable for the five years subsequent to June 30, 2014:


	(In thousands)		Future Principal Payments
	July 1, 2014 to December 31, 2014		$	458

	2015		190,964

	2016		1,014

	2017		83,393

	2018		1,143

	Thereafter		193,709

			$	470,681

	The Company's mortgage notes payable agreements require the compliance of certain property-level financial covenants including debt service coverage ratios. As of June 30, 2014, the Company was in compliance with financial covenants under its mortgage notes payable agreements.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	The Company determines fair value based on quoted prices when available or through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. The guidance defines three levels of inputs that may be used to measure fair value:
	Level 1 — Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.
	Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability.
	Level 3 — Unobservable inputs that reflect the entity's own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.
	The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures each quarter and depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter. However, the Company expects that changes in classifications between levels will be rare.
	The Company has investments in redeemable preferred stock and senior notes that are traded in active markets and therefore, due to the availability of quoted prices in active markets, classified these investments as Level 1 in the fair value hierarchy.
	The following table presents information about the Company's assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those instruments fall:


	(In thousands)	Quoted Prices				Significant Other				Significant				Total
		in Active				Observable				Unobservable
		Markets				Inputs				Inputs
		Level 1				Level 2				Level 3
	June 30, 2014

	Investment securities	$	35,984			$	—			$	—			$	35,984

	31-Dec-13
	Investment securities	$	58,566			$	—			$	—			$	58,566

	A review of the fair value hierarchy classification is conducted on a quarterly basis. Changes in the type of inputs may result in a reclassification for certain assets and liabilities. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the six months ended June 30, 2014.
	The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate that value. The fair value of short-term financial instruments such as cash and cash equivalents, restricted cash, prepaid expenses and other assets, accounts payable and accrued expenses and distributions payable approximates their carrying value on the consolidated balance sheets due to their short-term nature. The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets as of June 30, 2014 and December 31, 2013 are reported in the following table:


				Carrying Amount at				Fair Value at				Carrying Amount at				Fair Value at
	(In thousands)	Level		June 30, 2014				June 30, 2014				December 31, 2013				December 31, 2013
	Mortgage notes payable and premiums, net	3		$	496,566			$	504,469			$	9,164			$	9,164

	Credit facility	3		$	423,000			$	423,000			$	—			$	—

	The fair value of mortgage notes payable is estimated by an independent third party using a discounted cash flow analysis, based on management’s estimates of market interest rates. Advances under the Credit Facility are considered to be reported at fair value, since its interest rate varies with changes in LIBOR.

Common_Stock

Common Stock	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Common Stock	'
	Common Stock
	As of June 30, 2014, the Company had 64.2 million shares of common stock outstanding, including unvested restricted shares and shares issued pursuant to the DRIP, and had received total proceeds from the IPO and the DRIP of $1.6 billion.
	On April 9, 2013, the Company's board of directors authorized, and the Company declared, a distribution rate, which is calculated based on stockholders of record each day during the applicable period at a rate of $0.00452054795 per day, based on the $25.00 price per share of common stock. Distributions began to accrue on May 13, 2013, 15 days following the Company's initial property acquisition. Distributions are payable by the fifth day following each month end to stockholders of record at the close of business each day during the prior month. Distribution payments are dependent on the availability of funds. The board of directors may reduce the amount of distributions paid or suspend distribution payments at any time and therefore distributions payments are not assured.
	The following table summarizes the repurchases of shares under the Share Repurchase Program ("SRP") cumulatively through June 30, 2014:


			Number of Requests	Number of Shares	Weighted-Average Price per Share
	Cumulative repurchases as of December 31, 2013		10	8,082	$	24.98

	Six months ended June 30, 2014		18	20,334	24.75

	Cumulative repurchases as of June 30, 2014 (1)		28	28,416	$	24.82

	_____________________

	-1	Includes 11 unfulfilled repurchase requests consisting of 6,806 shares with a weighted-average repurchase price per share of $24.35, which were approved for repurchase as of June 30, 2014 and will be completed during the third quarter of 2014. This liability is included in accounts payable and accrued expenses on the Company's consolidated balance sheet as of June 30, 2014.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Future Minimum Lease Payments
	The Company entered into lease agreements related to certain acquisitions under leasehold interest arrangements. The following table reflects the minimum base cash rental payments due from the Company over the next five years and thereafter:


	(In thousands)	Future Minimum Base Rent Payments
	July 1, 2014 to December 31, 2014	$	413

	2015	827

	2016	835

	2017	840

	2018	822

	Thereafter	6,302

		$	10,039

	Litigation
	In the ordinary course of business, the Company may become subject to litigation or claims. There are no material legal proceedings pending or known to be contemplated against the Company or its properties.
	Environmental Matters
	In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. The Company has not been notified by any governmental authority of any non-compliance, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on its financial position or results of operations.

Related_Party_Transactions_and

Related Party Transactions and Arrangements	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions and Arrangements	'
	Related Party Transactions and Arrangements
	As of June 30, 2014 and December 31, 2013, the Special Limited Partner, an entity controlled by the Sponsor, owned 8,888 shares of the Company's outstanding common stock and 90 OP Units.
	Fees Paid in Connection with the IPO
	The Dealer Manager received fees and compensation in connection with the sale of the Company's common stock in the IPO. The Dealer Manager received selling commissions of up to 7.0% of gross offering proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Dealer Manager received up to 3.0% of the gross proceeds from the sale of shares, before reallowance to participating broker-dealers, as a dealer-manager fee. The Dealer Manager was permitted to reallow its dealer-manager fee to such participating broker-dealers. A participating broker dealer was permitted to elect to receive a fee equal to 7.5% of the gross proceeds from the sale of common stock (not including selling commissions and dealer manager fees) by such participating broker dealer, with 2.5% thereof paid at the time of such sale and 1.0% thereof paid on each anniversary of the closing of such sale, up to and including the fifth anniversary of the closing of such sale. If this option was elected, the dealer manager fee would have been reduced to 2.5% of gross proceeds (not including selling commissions and dealer manager fees). The following table details total selling commissions and dealer manager fees incurred from and due to the Dealer Manager as of and for the periods presented:


			Three Months Ended June 30,				Six Months Ended June 30, 2014				Period from		Payable as of
											22-Jan-13
											(date of inception) to
	(In thousands)		2014		2013						30-Jun-13		June 30,		December 31,
													2014		2013
	Total commissions and fees from the Dealer Manager		$	—	$	39,676	$	(3	)	(1)	$	39,676	$	—	$	2

	_________________________________

	-1	During the six months ended June 30, 2014, the Company incurred reimbursement of selling commissions and dealer manager fees as a result of share purchase cancellations related to common stock sales prior to the close of the IPO.
	The Advisor and its affiliates received compensation and expense reimbursements for services relating to the IPO. The Company utilizes transfer agent services provided by an affiliate of the Dealer Manager. All offering costs related to the IPO incurred by the Company or its affiliated entities on behalf of the Company were charged to additional paid-in capital on the accompanying consolidated balance sheets. The following table details offering costs and reimbursements incurred from and due to the Advisor and Dealer Manager as of and for the periods presented:


			Three Months Ended June 30,				Six Months Ended June 30, 2014				Period from		Payable as of
											22-Jan-13
											(date of inception) to
	(In thousands)		2014		2013						30-Jun-13		June 30,		December 31,
													2014		2013
	Fees and expense reimbursements from the Advisor and Dealer Manager		$	—	$	5,325	$	(253	)		$	5,325	$	—	$	226

	The Company is responsible for offering and related costs from the IPO, excluding selling commissions and dealer manager fees, up to a maximum of 2.0% of gross proceeds received from the IPO, measured at the end of the IPO. Offering costs, excluding selling commissions and dealer manager fees, in excess of the 2.0% cap as of the end of the IPO are the Advisor's responsibility. As of the end of the IPO, cumulative offering and related costs, excluding selling commissions and dealer manager fees, did not exceed the 2.0% threshold.
	The Advisor has elected to cap cumulative offering costs incurred by the Company, net of unpaid amounts, at 15.0% of gross common stock proceeds received from the IPO. As of the end of the IPO, cumulative offering costs, net of unpaid amounts, were less than the 15.0% threshold.
	Fees Paid in Connection With the Operations of the Company
	The Advisor receives an acquisition fee of 1.0% of the contract purchase price of each acquired property and 1.0% of the amount advanced for a loan or other investment. The Advisor is also paid for services provided for which it incurs investment-related expenses, or insourced expenses. Such insourced expenses will be fixed initially at, and may not exceed, 0.5% of the contract purchase price and 0.5% of the amount advanced for a loan or other investment. Additionally, the Company pays third party acquisition expenses. Once the proceeds from the IPO have been fully invested, the aggregate amount of acquisition fees and financing coordination fees (as described below) shall not exceed 1.5% of the contract purchase price and the amount advanced for a loan or other investment for all the assets acquired. As of June 30, 2014, aggregate acquisition fees and financing fees did not exceed the 1.5% threshold. In no event will the total of all acquisition fees, acquisition expenses and any financing coordination fees payable with respect to a particular investment or reinvestment exceed 4.5% of the contract purchase price to be measured at the close of the acquisition phase or 4.5% of the amount advanced for a loan or other investment.
	If the Advisor provides services in connection with the origination or refinancing of any debt that the Company obtains and uses to acquire properties or to make other permitted investments, or that is assumed, directly or indirectly, in connection with the acquisition of properties, the Company will pay the Advisor a financing coordination fee equal to 0.75% of the amount available and/or outstanding under such financing, subject to certain limitations.
	In connection with providing strategic advisory services related to certain portfolio acquisitions, the Company has entered into arrangements in which the investment banking division of the Dealer Manager receives a transaction fee of 0.25% of the Transaction Value for certain portfolio acquisition transactions. Pursuant to such arrangements to date, "Transaction Value" has been defined as (i) the value of the consideration paid or to be paid for all the equity securities or assets in connection with the sale transaction or acquisition transaction (including consideration payable with respect to convertible or exchangeable securities and option, warrants or other exercisable securities and including dividends or distributions and equity security repurchases made in anticipation of or in connection with the sale transaction or acquisition transaction), or the implied value for all the equity securities or assets of the Company or acquisition target, as applicable, if a partial sale or purchase is undertaken, plus (ii) the aggregate value of any debt, capital lease and preferred equity security obligations (whether consolidated, off-balance sheet or otherwise) of the Company or acquisition target, as applicable, outstanding at the closing of the sale transaction or acquisition transaction), plus (iii) the amount of any fees, expenses and promote paid by the buyer(s) on behalf of the Company or the acquisition target, as applicable. Should the Dealer Manager provide strategic advisory services related to additional portfolio acquisition transactions, the Company will enter into new arrangements with the Dealer Manager on such terms as may be agreed upon between the two parties.
	In connection with the asset management services provided by the Advisor, the Company has issued and expects to continue to issue (subject to periodic approval by the board of directors) to the Advisor performance-based restricted partnership units of the OP designated as "Class B Units," which are intended to be profit interests and will vest, and no longer be subject to forfeiture, at such time as: (a) the value of the OP's assets plus all distributions made equals or exceeds the total amount of capital contributed by investors plus a 6.0% cumulative, pretax, non-compounded annual return thereon (the "economic hurdle"); (b) any one of the following events occurs concurrently with or subsequently to the achievement of the economic hurdle described above: (i) a listing; (ii) a transaction to which the Company or the OP, shall be a party, as a result of which OP Units or the Company's common stock shall be exchanged for, or converted into, the right, or the holders of such securities shall otherwise be entitled, to receive cash, securities or other property or any combination thereof; or (iii) the termination of the advisory agreement without cause; and (c) the Advisor pursuant to the advisory agreement is providing services to the Company immediately prior to the occurrence of an event of the type described in clause (b) above, unless the failure to provide such services is attributable to the termination without cause of the advisory agreement by an affirmative vote of a majority of the Company's independent directors after the economic hurdle described above has been met. Any outstanding Class B Units will be forfeited immediately if the advisory agreement is terminated for any reason other than a termination without cause. Any outstanding Class B Units will be forfeited immediately if the advisory agreement is terminated without cause by an affirmative vote of a majority of the board of directors before the economic hurdle described above has been met.
	The Class B Units are issued in an amount equal to the cost of the Company's assets multiplied by 0.1875%, divided by the value of one share of common stock as of the last day of such calendar quarter, which is equal initially to $22.50 (the initial offering price in the IPO minus selling commissions and dealer manager fees) and, at such time as the Company calculates NAV, to Per Share NAV. When and if approved by the board of directors, the Class B Units are issued to the Advisor quarterly in arrears pursuant to the terms of the limited partnership agreement of the OP. As of June 30, 2014, the Company cannot determine the probability of achieving the performance condition. The value of issued Class B Units will be determined and expensed when the Company deems the achievement of the performance condition to be probable. The Advisor receives distributions on the vested and unvested Class B Units it receives in connection with its asset management subordinated participation at the same rate as distributions received on the Company's common stock. Such distributions on issued Class B Units are included in general and administrative expenses in the consolidated statements of operations and comprehensive income (loss) until the performance condition is considered probable to occur. As of June 30, 2014, the Company's board of directors has approved the issuance of 339,678 Class B Units to the Advisor in connection with this arrangement.
	Effective August 1, 2013, the Company entered into an agreement with the Dealer Manager to provide strategic advisory services and investment banking services required in the ordinary course of the Company's business, such as performing financial analysis, evaluating publicly traded comparable companies and assisting in developing a portfolio composition strategy, a capitalization structure to optimize future liquidity options and structuring operations. Strategic advisory fees were fully amortized to general and administrative expenses as of December 31, 2013. No such costs were incurred during the three and six months ended June 30, 2014.
	The following table details amounts incurred, forgiven and payable to related parties in connection with the operations-related services described above as of and for the periods presented:


			Three Months Ended June 30,										Six Months Ended June 30, 2014				Period from				Payable as of
																	22-Jan-13
																	(date of inception) to
			2014				2013										30-Jun-13
	(In thousands)		Incurred		Forgiven		Incurred				Forgiven (1)		Incurred		Forgiven		Incurred		Forgiven		June 30,		December 31,
																					2014		2013
	One-time fees and reimbursements:
	Acquisition fees and related cost reimbursements		$	1,754	$	—	$	48			$	—	$	10,578	$	—	$	48	$	—	$	—	$	—

	Financing coordination fees		900		—		—				—		5,678		—		—		—		—		—

	Other expense reimbursements		763		—		—				—		1,253		—		—		—		332		—

	Transaction fees		—		—		—				—		—		—		—		—		—		2,630

	Ongoing fees:
	Strategic advisory fees		—		—		—				—		—		—		—		—		—		—

	Distributions on Class B Units		109		—		—				—		152		—		—		—		—		18

	Total related party operation fees and reimbursements		$	3,526	$	—	$	48			$	—	$	17,661	$	—	$	48	$	—	$	332	$	2,648

	The Company reimburses the Advisor's costs of providing administrative services, subject to the limitation that the Company will not reimburse the Advisor for any amount by which the Company's operating expenses at the end of the four preceding fiscal quarters exceeds the greater of (a) 2.0% of average invested assets and (b) 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non-cash reserves and excluding any gain from the sale of assets for that period. The Company may not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives acquisition fees, acquisition expenses or real estate commissions. No reimbursements were incurred from the Advisor for providing services during the three and six months ended June 30, 2014, the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
	In order to improve operating cash flows and the ability to pay distributions from operating cash flows, the Advisor may elect to waive certain fees. Because the Advisor may waive certain fees, cash flows from operations that would have been paid to the Advisor may be available to pay distributions to stockholders. The fees that are forgiven are not deferrals and, accordingly, will not be paid to the Advisor. In certain instances, to improve the Company's working capital, the Advisor may elect to absorb a portion of the Company's general and administrative costs and/or property operating costs. The Advisor absorbed $0.1 million of general and administrative costs during the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013. No such costs were absorbed by the Advisor during the three and six months ended June 30, 2014.
	Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets
In May 2014, the Company entered into a transaction management agreement with RCS Advisory Services, LLC, an entity under common control with the Dealer Manager, to provide strategic alternatives transaction management services through the occurrence of a liquidity event and a-la-carte services thereafter. The Company agreed to pay $3.0 million pursuant to this agreement. During the three and six months ended June 30, 2014, the Company incurred an aggregate of $1.0 million of expenses for services provided pursuant to this agreement, which is included in acquisition and transaction related expense on the consolidated statements of operations and comprehensive income (loss) and in accounts payable and accrued expenses on the accompanying consolidated balance sheet as of June 30, 2014. No such fees were incurred during the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
In May 2014, the Company entered into an information agent and advisory services agreement with the Dealer Manager and American National Stock Transfer, LLC, an entity under common control with the Dealer Manager, to provide in connection with a liquidity event, advisory services, educational services to external and internal wholesalers, communication support as well as proxy, tender offer or redemption and solicitation services. The Company agreed to pay $1.9 million pursuant to this agreement. As of June 30, 2014, the Company has incurred an aggregate of $0.6 million of expenses for services provided pursuant to this agreement, which is included in acquisition and transaction related expense on the consolidated statements of operations and comprehensive income (loss) and in accounts payable and accrued expenses on the accompanying consolidated balance sheet as of June 30, 2014. No such fees were incurred during the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
The investment banking and capital markets division of the Dealer Manager provides the Company with strategic and financial advice and assistance in connection with (i) a possible sale transaction involving the Company (ii) the possible listing of the Company's securities on a national securities exchange, and (iii) a possible acquisition transaction involving the Company. The Dealer Manager will receive a listing advisory fee equal to the greatest of (i) an amount equal to 0.25% of Transaction Value (as defined above), (ii) $1.0 million and (iii) the highest fee payable to any co-bookrunner (or comparable person) in connection with the listing. If one of the above events does not occur, the Dealer Manager will receive a base advisory services fee of $1.0 million on the earlier of (a) the date the Dealer Manager resigns or is terminated for cause and (b) 18 months from the date of any other termination of this agreement by the Company. No such fees were incurred during the three and six months ended June 30, 2014, the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
The Company may pay the Advisor a subordinated performance fee calculated on the basis of the Company's total return to stockholders, payable annually in arrears, such that for any year in which the Company's total return on stockholders' capital exceeds 6.0% per annum, the Advisor will be entitled to 15.0% of the excess total return, provided that the annual subordinated performance fee paid to the Advisor does not exceed 10.0% of the aggregate total return for such year. This fee will be payable only upon the sale of assets, distributions or other event which results in the return on stockholders' capital exceeding 6.0% per annum. No subordinated performance fees were incurred during the three and six months ended June 30, 2014, the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
The Company will pay a brokerage commission on the sale of property, not to exceed the lesser of 2.0% of the contract sale price of the property and one-half of the total brokerage commission paid, if a third party broker is also involved; provided, however, that in no event may the real estate commissions paid to the Advisor, its affiliates and unaffiliated third parties exceed the lesser of 6.0% of the contract sales price and a reasonable, customary and competitive real estate commission, in each case, payable to the Advisor if the Advisor or its affiliates, as determined by a majority of the independent directors, provided a substantial amount of services in connection with the sale. No such fees were incurred during the three and six months ended June 30, 2014, the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
If the Company is not simultaneously listed on an exchange, the Company intends to pay a subordinated participation in the net sales proceeds of the sale of real estate assets of 15.0% of remaining net sales proceeds after return of capital contributions to investors plus payment to investors of an annual 6.0% cumulative, pre-tax, non-compounded return on the capital contributed by investors. There can be no assurance that the Company will provide this 6.0% return but the Special Limited Partner will not be entitled to the subordinated participation in net sale proceeds unless the Company's investors have received an annual 6.0% cumulative, pre-tax, non-compounded return on their capital contributions. No such fees were incurred during the three and six months ended June 30, 2014, the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013.
If the common stock of the Company is listed on a national stock exchange, the Company expects to pay a subordinated incentive listing distribution from the OP of 15.0% of the amount by which the Company's market value plus distributions exceeds the aggregate capital contributed by investors plus an amount equal to an annual 6.0% cumulative, pre-tax, non-compounded annual return to investors. The Company cannot assure that it will provide this 6.0% return but the Special Limited Partner will not be entitled to the subordinated incentive listing fee unless investors have received an annual 6.0% cumulative, pre-tax, non-compounded return on their capital contributions. No such fees were incurred during the three and six months ended June 30, 2014, the three months ended June 30, 2013 and the period from January 22, 2013 (date of inception) to June 30, 2013. Neither the Advisor nor any of its affiliates can earn both the subordination participation in the net proceeds and the subordinated incentive listing distribution.
Upon termination or non-renewal of the advisory agreement with or without cause, the Special Limited Partner will be entitled to receive distributions from the OP equal to 15.0% of the amount by which the sum of the Company's market value plus distributions exceeds the sum of the aggregate capital contributed by investors plus an amount equal to an annual 6.0% cumulative, pre-tax, non-compounded return to investors. The Advisor may elect to defer its right to receive a subordinated distribution upon termination until either a listing on a national securities exchange or other liquidity event occurs.

Economic_Dependency

Economic Dependency	6 Months Ended
Economic Dependency	Jun. 30, 2014
Economic Dependency [Abstract]	'
Economic Dependency	'
	Economic Dependency
	Under various agreements, the Company has engaged or will engage the Advisor, its affiliates and entities under common control with the Advisor to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company's common stock available for issue, transfer agency services, as well as other administrative responsibilities for the Company including accounting services, transaction management services and investor relations.
	As a result of these relationships, the Company is dependent upon the Advisor and its affiliates. In the event that these companies are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services.

ShareBased_Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share-Based Compensation
	Restricted Share Plan
	The Company has an employee and director incentive restricted share plan (the "RSP"), which provides for the automatic grant of 1,333 restricted shares of common stock to each of the independent directors, without any further action by the Company's board of directors or the stockholders, on the date of initial election to the board of directors and on the date of each annual stockholders' meeting. Restricted stock issued to independent directors will vest over a five-year period following the first anniversary or the date of grant in increments of 20.0% per annum. The RSP provides the Company with the ability to grant awards of restricted shares to the Company's directors, officers and employees (if the Company ever has employees), employees of the Advisor and its affiliates, employees of entities that provide services to the Company, directors of the Advisor or of entities that provide services to the Company, certain consultants to the Company and the Advisor and its affiliates or to other entities that provide services to the Company. The total number of shares of common stock granted under the RSP shall not exceed 5.0% of the Company's shares of common stock on a fully diluted basis at any time, and in any event, will not exceed 3.4 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events).
	Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash distributions prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in shares of common stock shall be subject to the same restrictions as the underlying restricted shares.
	The following table reflects restricted share award activity for the six months ended June 30, 2014:


		Number of Shares of Common Stock			Weighted-Average Issue Price
	Unvested, December 31, 2013	4,000			$	22.5

	Granted	3,999			22.5

	Vested	(800	)		22.5

	Unvested, June 30, 2014	7,199			$	22.5

	The fair value of the restricted shares is being expensed over the vesting period of five years. Compensation expense related to restricted stock was approximately $6,000 and $34,000 for the three months ended June 30, 2014 and 2013, respectively. Compensation expense related to restricted stock was approximately $11,000 and $34,000 for the six months ended June 30, 2014 and the period from January 22, 2013 (date of inception) to June 30, 2013, respectively.
	As of June 30, 2014, the Company had $0.2 million of unrecognized compensation cost related to unvested restricted share awards granted under the Company's RSP. That cost is expected to be recognized over a weighted-average period of 4.4 years.
	Other Share-Based Compensation
	The Company may issue common stock in lieu of cash to pay fees earned by the Company's directors at each director's election. There are no restrictions on the shares issued since these payments in lieu of cash relate to fees earned for services performed. The following table reflects the shares of common stock issued to directors in lieu of cash compensation:


			Three Months Ended June 30,						Six Months Ended June 30, 2014		Period from
											22-Jan-13
											(date of inception) to
	(Dollar amounts in thousands)		2014				2013				30-Jun-13
	Value of shares issued in lieu of cash		$	—			$	8	$	—	$	8

	Shares issued in lieu of cash		—				356		—		356

Net_Loss_Per_Share

Net Loss Per Share	6 Months Ended
Net Loss Per Share	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	Net Loss Per Share
	The following is a summary of the basic and diluted net loss per share computation for the three and six months ended June 30, 2014, the three months ended June 30, 2013 and for the period from January 22, 2013 (date of inception) to June 30, 2013:


		Three Months Ended June 30,							Six Months Ended June 30, 2014			Period from
												22-Jan-13
												(date of inception) to
		2014				2013						30-Jun-13
	Net loss (in thousands)	$	(1,872	)		$	(215	)	$	(12,461	)	$	(244	)
	Basic and diluted weighted-average shares outstanding	64,018,318				5,173,574			63,359,596			3,100,904
	Basic and diluted weighted-average shares outstanding	64,018,318				5,173,574			63,359,596			3,100,904
	Basic and diluted net loss per share	$	(0.03	)		$	(0.04	)	$	(0.20	)	$	(0.08	)
	The following common stock equivalents as of June 30, 2014 and 2013 were excluded from diluted net loss per share computations as their effect would have been antidilutive:


		June 30,
		2014			2013
	Unvested restricted stock	7,199			4,000
	Unvested restricted stock	7,199			4,000
	OP Units	90			90
	OP Units	90			90
	Class B Units	339,678			—
	Class B Units	339,678			—
	Total common stock equivalents	346,967			4,090
	Total common stock equivalents	346,967			4,090

Subsequent_Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have not been any events that have occurred that would require adjustments to, or disclosures in, the consolidated financial statements except for the following disclosures:
	Investment Securities
	From July 1, 2014 to July 30, 2014, the Company sold $13.0 million of investments in redeemable preferred stock and senior notes for a realized gain of $0.3 million.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2014
Accounting Policies [Abstract]	'
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In April 2014, the FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2014, and has applied the provisions prospectively. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.
	In May 2014, the FASB issued revised guidance relating to revenue recognition. Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is not permitted under GAAP. The revised guidance allows entities to apply the full retrospective or modified retrospective transition method upon adoption. The Company has not yet selected a transition method and is currently evaluating the impact of the new guidance.

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Real Estate Investments, Net [Abstract]	'
Purchase Price of Acquired Properties	'
	The following table presents the allocation of assets acquired and liabilities assumed during the six months ended June 30, 2014 and the period from January 22, 2013 (date of inception) to June 30, 2013:


	(Dollar amounts in thousands)		Six Months Ended June 30, 2014				Period from
							22-Jan-13
							(date of inception) to
							30-Jun-13
	Real estate investments, at cost:
	Land		$	155,904			$	288

	Buildings, fixtures and improvements		798,479				1,632

	Total tangible assets		954,383				1,920

	Acquired intangibles:
	In-place leases		96,980				323

	Total assets acquired		1,051,363				2,243

	Mortgage notes payable assumed		(462,238		)		—

	Premiums on mortgages assumed		(27,862		)		—

	Deposits paid in prior periods		(33,035		)		—

	Cash paid for acquired real estate investments, at cost		$	528,228		(1)	$	2,243

	Number of properties purchased		224				2

	_____________________________________

	-1	Excludes cash paid for real estate investments financed through accounts payable in prior periods of $9.9 million.
Business Acquisition, Pro Forma Information	'
	The following table presents unaudited pro forma information as if the acquisitions during the six months ended June 30, 2014 had been consummated on January 22, 2013 (date of inception). Additionally, the unaudited pro forma net income (loss) was adjusted to reclassify acquisition and transaction related expense of $17.0 million from the six months ended June 30, 2014 to the period from January 22, 2013 (date of inception) to June 30, 2013:


	(In thousands)		Six Months Ended June 30, 2014				Period from
							22-Jan-13
							(date of inception) to
							30-Jun-13
	Pro forma revenues		$	87,447			$	33,045

	Pro forma net income (loss) attributable to stockholders		$	4,535			$	(17,404	)

Schedule of Future Minimum Rental Payments for Operating Leases	'
	The following table presents future minimum base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items:


	(In thousands)		Future Minimum
			Base Rent Payments
	July 1, 2014 to December 31, 2014		$	76,277

	2015		154,207

	2016		156,970

	2017		159,368

	2018		130,936

	Thereafter		968,264

			$	1,646,022

Schedule of Annualized Rental Income by Major Tenants	'
	The following table lists the tenants (including, for this purpose, all affiliates of such tenants) whose annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis for all portfolio properties as of June 30, 2014 and 2013:


			June 30,
	Tenant		2014		2013
	SunTrust Bank		17.90%		*
	Sanofi US		11.60%		*
	C&S Wholesale Grocer		10.40%		*
	Dollar General		*		100.00%
	____________________________

	*	Tenant's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the date specified.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	'
	The following table lists the states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of June 30, 2014 and 2013:


			June 30,
	State		2014		2013
	New Jersey		20.30%		*
	Georgia		11.20%		*
	Missouri		*		50.60%
	Texas		*		49.40%
	____________________________

	*	State's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the date specified.

Investment_Securities_Tables

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation	'
	The following table details the unrealized gains and losses on investment securities as of June 30, 2014 and December 31, 2013:


	(In thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	June 30, 2014	$	35,661	$	412	$	(89	)	$	35,984

	31-Dec-13	$	65,547	$	—	$	(6,981	)	$	58,566

Mortgage_Notes_Payable_Tables

Mortgage Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Long-term Debt Instruments	'
	The Company's mortgage notes payable as of June 30, 2014 and December 31, 2013 consist of the following:


					Outstanding Loan Amount as of				Effective Interest Rate
	Portfolio		Encumbered Properties		June 30,		December 31,					Interest Rate	Maturity
					2014		2013
					(In thousands)		(In thousands)
	SAAB Sensis I		1		$	8,677	$	8,830	6.01	%		Fixed	Apr. 2025

	SunTrust Bank II		30		25,000		—		5.5	%		Fixed	Jul. 2021

	C&S Wholesale Grocer I		4		82,313		—		5.56	%		Fixed	Apr. 2017

	SunTrust Bank III		121		99,821		—		5.5	%		Fixed	Jul. 2021

	SunTrust Bank IV		30		25,000		—		5.5	%		Fixed	Jul. 2021

	Sanofi US I		1		190,000		—		5.83	%		Fixed	Dec. 2015

	Stop & Shop I		4		39,870		—		5.63	%		Fixed	Jun. 2021

	Total		191		$	470,681	$	8,830	5.66	%	(1)

	_____________________________________

	-1	Calculated on a weighted-average basis for all mortgages outstanding as of June 30, 2014.
Schedule of Maturities of Long-term Debt	'
	The following table summarizes the scheduled aggregate principal payments on mortgage notes payable for the five years subsequent to June 30, 2014:


	(In thousands)		Future Principal Payments
	July 1, 2014 to December 31, 2014		$	458

	2015		190,964

	2016		1,014

	2017		83,393

	2018		1,143

	Thereafter		193,709

			$	470,681

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Liabilities Measured on Recurring Basis	'
	The following table presents information about the Company's assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those instruments fall:


	(In thousands)	Quoted Prices				Significant Other				Significant				Total
		in Active				Observable				Unobservable
		Markets				Inputs				Inputs
		Level 1				Level 2				Level 3
	June 30, 2014

	Investment securities	$	35,984			$	—			$	—			$	35,984

	31-Dec-13
	Investment securities	$	58,566			$	—			$	—			$	58,566

Fair Value, by Balance Sheet Grouping	'
	The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets as of June 30, 2014 and December 31, 2013 are reported in the following table:


				Carrying Amount at				Fair Value at				Carrying Amount at				Fair Value at
	(In thousands)	Level		June 30, 2014				June 30, 2014				December 31, 2013				December 31, 2013
	Mortgage notes payable and premiums, net	3		$	496,566			$	504,469			$	9,164			$	9,164

	Credit facility	3		$	423,000			$	423,000			$	—			$	—

Common_Stock_Common_Stock_Tabl

Common Stock Common Stock (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Schedule of Share Repurchases	'
	The following table summarizes the repurchases of shares under the Share Repurchase Program ("SRP") cumulatively through June 30, 2014:


			Number of Requests	Number of Shares	Weighted-Average Price per Share
	Cumulative repurchases as of December 31, 2013		10	8,082	$	24.98

	Six months ended June 30, 2014		18	20,334	24.75

	Cumulative repurchases as of June 30, 2014 (1)		28	28,416	$	24.82

	_____________________

	-1	Includes 11 unfulfilled repurchase requests consisting of 6,806 shares with a weighted-average repurchase price per share of $24.35, which were approved for repurchase as of June 30, 2014 and will be completed during the third quarter of 2014. This liability is included in accounts payable and accrued expenses on the Company's consolidated balance sheet as of June 30, 2014.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of Future Minimum Rental Payments for Master Leases	'
	The following table reflects the minimum base cash rental payments due from the Company over the next five years and thereafter:


	(In thousands)	Future Minimum Base Rent Payments
	July 1, 2014 to December 31, 2014	$	413

	2015	827

	2016	835

	2017	840

	2018	822

	Thereafter	6,302

		$	10,039

Related_Party_Transactions_and1

Related Party Transactions and Arrangements (Tables)	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate	'
	The following table details total selling commissions and dealer manager fees incurred from and due to the Dealer Manager as of and for the periods presented:


			Three Months Ended June 30,				Six Months Ended June 30, 2014				Period from		Payable as of
											22-Jan-13
											(date of inception) to
	(In thousands)		2014		2013						30-Jun-13		June 30,		December 31,
													2014		2013
	Total commissions and fees from the Dealer Manager		$	—	$	39,676	$	(3	)	(1)	$	39,676	$	—	$	2

	_________________________________

	-1	During the six months ended June 30, 2014, the Company incurred reimbursement of selling commissions and dealer manager fees as a result of share purchase cancellations related to common stock sales prior to the close of the IPO.
Schedule Of Offering Costs Reimbursements to Related Party	'
	he following table details offering costs and reimbursements incurred from and due to the Advisor and Dealer Manager as of and for the periods presented:


			Three Months Ended June 30,				Six Months Ended June 30, 2014				Period from		Payable as of
											22-Jan-13
											(date of inception) to
	(In thousands)		2014		2013						30-Jun-13		June 30,		December 31,
													2014		2013
	Fees and expense reimbursements from the Advisor and Dealer Manager		$	—	$	5,325	$	(253	)		$	5,325	$	—	$	226

Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services	'
	The following table details amounts incurred, forgiven and payable to related parties in connection with the operations-related services described above as of and for the periods presented:


			Three Months Ended June 30,										Six Months Ended June 30, 2014				Period from				Payable as of
																	22-Jan-13
																	(date of inception) to
			2014				2013										30-Jun-13
	(In thousands)		Incurred		Forgiven		Incurred				Forgiven (1)		Incurred		Forgiven		Incurred		Forgiven		June 30,		December 31,
																					2014		2013
	One-time fees and reimbursements:
	Acquisition fees and related cost reimbursements		$	1,754	$	—	$	48			$	—	$	10,578	$	—	$	48	$	—	$	—	$	—

	Financing coordination fees		900		—		—				—		5,678		—		—		—		—		—

	Other expense reimbursements		763		—		—				—		1,253		—		—		—		332		—

	Transaction fees		—		—		—				—		—		—		—		—		—		2,630

	Ongoing fees:
	Strategic advisory fees		—		—		—				—		—		—		—		—		—		—

	Distributions on Class B Units		109		—		—				—		152		—		—		—		—		18

	Total related party operation fees and reimbursements		$	3,526	$	—	$	48			$	—	$	17,661	$	—	$	48	$	—	$	332	$	2,648

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Share-based Compensation, Activity	'
	The following table reflects restricted share award activity for the six months ended June 30, 2014:


		Number of Shares of Common Stock			Weighted-Average Issue Price
	Unvested, December 31, 2013	4,000			$	22.5

	Granted	3,999			22.5

	Vested	(800	)		22.5

	Unvested, June 30, 2014	7,199			$	22.5

Schedule of Share-based Compensation, Activity for Services	'
	The following table reflects the shares of common stock issued to directors in lieu of cash compensation:


			Three Months Ended June 30,						Six Months Ended June 30, 2014		Period from
											22-Jan-13
											(date of inception) to
	(Dollar amounts in thousands)		2014				2013				30-Jun-13
	Value of shares issued in lieu of cash		$	—			$	8	$	—	$	8

	Shares issued in lieu of cash		—				356		—		356

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	6 Months Ended
Net Loss Per Share (Tables)	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted	'
	The following is a summary of the basic and diluted net loss per share computation for the three and six months ended June 30, 2014, the three months ended June 30, 2013 and for the period from January 22, 2013 (date of inception) to June 30, 2013:


		Three Months Ended June 30,							Six Months Ended June 30, 2014			Period from
												22-Jan-13
												(date of inception) to
		2014				2013						30-Jun-13
	Net loss (in thousands)	$	(1,872	)		$	(215	)	$	(12,461	)	$	(244	)
	Basic and diluted weighted-average shares outstanding	64,018,318				5,173,574			63,359,596			3,100,904
	Basic and diluted weighted-average shares outstanding	64,018,318				5,173,574			63,359,596			3,100,904
	Basic and diluted net loss per share	$	(0.03	)		$	(0.04	)	$	(0.20	)	$	(0.08	)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
	The following common stock equivalents as of June 30, 2014 and 2013 were excluded from diluted net loss per share computations as their effect would have been antidilutive:


		June 30,
		2014			2013
	Unvested restricted stock	7,199			4,000
	Unvested restricted stock	7,199			4,000
	OP Units	90			90
	OP Units	90			90
	Class B Units	339,678			—
	Class B Units	339,678			—
	Total common stock equivalents	346,967			4,090
	Total common stock equivalents	346,967			4,090

Organization_Details

Organization (Details) (USD $)

0 Months Ended

5 Months Ended

6 Months Ended

18 Months Ended

Apr. 25, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Apr. 04, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Apr. 25, 2013

Apr. 09, 2013

Apr. 04, 2013

Jun. 30, 2014

property

Special Limited Partner

Minimum

Common Stock

sqft

American Realty Capital Trust V Special Limited Partner, LLC

Minimum

Operations [Line Items]

Shares available for issuance (in shares)

68,000,000

Common stock, par value (in dollars per share)

$0.01

Share Price (in dollars per share)

$25

Shares available for issuance under a distribution reinvestment plan (in shares)

14,700,000

Subscriptions required to break escrow

$2,000,000

Common stock, outstanding (in shares)

64,236,659

62,985,937

Shares reallocated from DRIP (in shares)

14,500,000

Proceeds from issuances of common stock

395,423,000

127,000

1,600,000,000

Common value outstanding

1,600,000,000

Share price for Drip (In dollars per share)

$23.75

Payments to acquire real estate

2,243,000

538,130,000

1,400,000,000

DRIP percentage of estimated value of common stock

95.00%

Number of real estate properties

463

Aggregate purchase price

2,200,000,000

Area of real estate property

13,100,000

Occupancy rate

100.00%

Weighted average remaining lease term

'10 years 1 month 9 days

Contributed capital

$2,020

OP units outstanding (in shares)

Real_Estate_Investments_Assets

Real Estate Investments - Assets Acquired (Details) (USD $)	5 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013		Jun. 30, 2014
	property		property
Business Acquisition [Line Items]	'		'
Land	$288		$155,904
Buildings, fixtures and improvements	1,632		798,479
Total tangible assets	1,920		954,383
Total assets acquired	2,243		1,051,363
Mortgage notes payable assumed	0		-462,238
Premiums on mortgages assumed	0		-27,862
Deposits paid in prior periods	0		-33,035
Cash paid for acquired real estate investments, at cost	2,243	[1]	528,228	[1]
Number of properties purchased	2		224
In-place leases	'		'
Business Acquisition [Line Items]	'		'
In-place leases	$323		$96,980

[1]	Excludes cash paid for real estate investments financed through accounts payable in prior periods of $9.9 million.

Real_Estate_Investments_Narrat

Real Estate Investments - Narrative (Details) (USD $)	3 Months Ended		5 Months Ended	6 Months Ended
Real Estate Investments - Narrative (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014
Business Acquisition [Line Items]	'	'	'	'
Cash paid for real estate investments financed through accounts payable in prior periods	'	'	'	$9,900,000
Acquisition and transaction related	4,087,000	112,000	112,000	18,619,000
Buildings, fixtures and improvements provisional assignment	'	'	'	798,500,000
Restatement Adjustment	'	'	'	'
Business Acquisition [Line Items]	'	'	'	'
Acquisition and transaction related	'	'	'	$17,000,000

Real_Estate_Investments_Profor

Real Estate Investments - Proforma Information (Details) (USD $)	5 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014
Real Estate Investments, Net [Abstract]	'	'
Pro forma revenues	$33,045	$87,447
Pro forma net income (loss) attributable to stockholders	($17,404)	$4,535

Real_Estate_Investments_Minimu

Real Estate Investments - Minimum Lease Payments (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Real Estate Investments, Net [Abstract]	'
July 1, 2014 to December 31, 2014	$76,277
2015	154,207
2016	156,970
2017	159,368
2018	130,936
Thereafter	968,264
Total	$1,646,022

Real_Estate_Investments_Concen

Real Estate Investments - Concentrations (Details)	6 Months Ended		5 Months Ended		6 Months Ended			5 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013
	New Jersey	Georgia	Missouri	Texas	SunTrust Bank	Sanofi US	C&S Wholesale Grocer	Dollar General
Concentration Risk [Line Items]	'	'	'	'	'	'	'	'
Concentration Risk, Percentage	20.30%	11.20%	50.60%	49.40%	17.90%	11.60%	10.40%	100.00%

Investment_Securities_Details

Investment Securities (Details) (USD $)	3 Months Ended	6 Months Ended
Investment Securities (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Cost	$35,661,000	$35,661,000	$65,547,000
Gross Unrealized Gains	412,000	412,000	0
Gross Unrealized Losses	-89,000	-89,000	-6,981,000
Fair Value	35,984,000	35,984,000	58,566,000
Realized gain on securities sold	100,000	-100,000	'
Preferred Stock	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Period from issuance when investments become redeemable	'	'5 years	'
Weighted average maturity	'	'28 years 1 month 3 days	'
Weighted average interest rate	'	5.70%	'
Preferred Stock and Senior Notes	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Cost sold during period	20,100,000	29,900,000	'
Proceeds from sale of short-term investments	$20,200,000	$29,800,000	'

Credit_Facility_Details

Credit Facility (Details) (USD $)

Jun. 30, 2014

Dec. 31, 2013

Sep. 23, 2013

Jun. 30, 2014

Sep. 23, 2013

JPMorgan Chase Bank, N.A.

Line of Credit Facility, Interest Rate, Option One

Line of Credit Facility, Interest Rate, Option Two

Revolving Credit Facility

Swing Line

Letter of Credit

Minimum

Maximum

JPMorgan Chase Bank, N.A.

Revolving Credit Facility

Minimum

Maximum

Minimum

Maximum

Federal Funds Effective Rate

London Interbank Offered Rate (LIBOR)

Revolving Credit Facility

London Interbank Offered Rate (LIBOR)

Debt Instrument [Line Items]

Maximum borrowing capacity

$750,000,000

$200,000,000

$25,000,000

$20,000,000

Credit facility

423,000,000

Unused borrowing capacity fee

$229,800,000

Interest rate

0.50%

1.00%

Variable interest rate

0.60%

1.20%

1.60%

2.20%

Interest rate period

'1 month

Unused capacity commitment fee percentage

0.25%

0.15%

Unused borrowing minimum percentage

50.00%

Mortgage_Notes_Payable_Details

Mortgage Notes Payable (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014		Dec. 31, 2013
Debt Instrument [Line Items]	'		'
Mortgage notes payable	$470,681		$8,830
Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	191		'
Mortgage notes payable	470,681		8,830
Effective Interest Rate	5.66%	[1]	'
SAAB Sensis I \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Mortgage notes payable	8,677		8,830
Effective Interest Rate	6.01%		'
SunTrust Bank II \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	30		'
Mortgage notes payable	25,000		0
Effective Interest Rate	5.50%		'
C&S Wholesale Grocer I \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	4		'
Mortgage notes payable	82,313		0
Effective Interest Rate	5.56%		'
SunTrust Bank III \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	121		'
Mortgage notes payable	99,821		0
Effective Interest Rate	5.50%		'
SunTrust Bank IV \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	30		'
Mortgage notes payable	25,000		0
Effective Interest Rate	5.50%		'
Sanofi US I \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1		'
Mortgage notes payable	190,000		0
Effective Interest Rate	5.83%		'
Stop & Shop I \| Mortgages	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	4		'
Mortgage notes payable	$39,870		$0
Effective Interest Rate	5.63%		'

[1]	Calculated on a weighted-average basis for all mortgages outstanding as of JuneB 30, 2014.

Mortgage_Notes_Payable_Future_

Mortgage Notes Payable - Future Minimum Payments (Details) (Mortgages, USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Mortgages	'
Debt Instrument [Line Items]	'
July 1, 2014 to December 31, 2014	$458
2015	190,964
2016	1,014
2017	83,393
2018	1,143
Thereafter	193,709
Long-term Debt	$470,681

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Schedule of Fair Value, Liabilities Measured on Recurring Basis) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities, at fair value	$35,984	$58,566
Available-for-sale Securities \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities, at fair value	35,984	58,566
Available-for-sale Securities \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities, at fair value	0	0
Available-for-sale Securities \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities, at fair value	0	0
Available-for-sale Securities \| Fair Value, Measurements, Recurring \| Estimate of Fair Value Measurement	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities, at fair value	$35,984	$58,566

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Fair Value of Financial Instruments) (Details) (Fair Value, Inputs, Level 3, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Mortgages \| Reported Value Measurement	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Debt	$496,566	$9,164
Mortgages \| Estimate of Fair Value Measurement	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Debt	504,469	9,164
Revolving Credit Facility \| Reported Value Measurement	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Debt	423,000	0
Revolving Credit Facility \| Estimate of Fair Value Measurement	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Debt	$423,000	$0

Common_Stock_Schedule_of_Stock

Common Stock (Schedule of Stock by Class) (Details) (USD $)

0 Months Ended

5 Months Ended

6 Months Ended

18 Months Ended

6 Months Ended

9 Months Ended

15 Months Ended

6 Months Ended

In Thousands, except Share data, unless otherwise specified

Apr. 09, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Apr. 09, 2013

Apr. 04, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Common Stock

Approved

Unfunded

request

Class of Stock [Line Items]

Common stock, outstanding (in shares)

64,236,659

62,985,937

Proceeds from issuances of common stock

$395,423

$127

$1,600,000

Dividends declared per day (in dollars per share)

$0.00

Share Price (in dollars per share)

$25

Number of Requests

[1]

Number of Shares (in shares)

20,334

8,082

28,416

[1]

Weighted-Average Price per Share (in dollars per share)

$24.75

$24.98

$24.82

[1]

$24.35

Remaining authorized shares (in shares)

6,806

[1]

Includes 11 unfulfilled repurchase requests consisting ofB 6,806B shares with a weighted-average repurchase price per share ofB $24.35, which were approved for repurchase as of JuneB 30, 2014 and will be completed during the third quarter of 2014. This liability is included in accounts payable and accrued expenses on the Company's consolidated balance sheet as of JuneB 30, 2014.

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
July 1, 2014 to December 31, 2014	$413
2015	827
2016	835
2017	840
2018	822
Thereafter	6,302
Total	$10,039

Related_Party_Transactions_and2

Related Party Transactions and Arrangements (Details) (American Realty Capital Trust V Special Limited Partner, LLC, Special Limited Partner)	Jun. 30, 2014	Dec. 31, 2013
American Realty Capital Trust V Special Limited Partner, LLC \| Special Limited Partner	'	'
Related Party Transaction [Line Items]	'	'
Common stock held by related party (in shares)	8,888	8,888
OP units outstanding (in shares)	90	90

Related_Party_Transactions_and3

Related Party Transactions and Arrangements Fees Paid in Connection with the IPO (Details)	Jun. 30, 2014
Related Party Transaction [Line Items]	'
Cumulative offering cost cap	15.00%
Maximum	'
Related Party Transaction [Line Items]	'
Liability for offering and related costs from IPO	2.00%
Maximum \| Gross Proceeds, Common Stock \| Realty Capital Securities, LLC \| Dealer Manager	'
Related Party Transaction [Line Items]	'
Sales commissions as a percentage of benchmark	7.00%
Option One \| Maximum \| Gross Proceeds, Common Stock \| Participating Broker-Dealer	'
Related Party Transaction [Line Items]	'
Brokerage fee as a percentage of benchmark	7.50%
Brokerage fees as a percentage of benchmark, initial grant	2.50%
Brokerage fees as a percentage of benchmark, periodic payment	1.00%
Option One \| Maximum \| Gross Proceeds, Common Stock \| Realty Capital Securities, LLC \| Dealer Manager	'
Related Party Transaction [Line Items]	'
Gross proceeds from the sale of common stock, before allowances	3.00%
Option Two \| Gross Proceeds, Common Stock \| Realty Capital Securities, LLC \| Dealer Manager	'
Related Party Transaction [Line Items]	'
Sales commissions as a percentage of benchmark	2.50%

Related_Party_Transactions_and4

Related Party Transactions and Arrangements Fees Paid in Connection with the IPO, Selling Commissions and Dealer Fees (Details) (Realty Capital Securities, LLC, Sales Commissions and Dealer Manager Fees, Dealer Manager, USD $)	3 Months Ended		5 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014		Dec. 31, 2013
Realty Capital Securities, LLC \| Sales Commissions and Dealer Manager Fees \| Dealer Manager	'	'	'	'		'
Related Party Transaction [Line Items]	'	'	'	'		'
Total commissions and fees from the Dealer Manager	$0	$39,676	$39,676	($3)	[1]	'
Due to Affiliate	$0	'	'	$0		$2

[1]	During the six months ended June 30, 2014, the Company incurred reimbursement of selling commissions and dealer manager fees as a result of share purchase cancellations related to common stock sales prior to the close of the IPO.

Related_Party_Transactions_and5

Related Party Transactions and Arrangements Fees Paid in Connection with the IPO, Offering Costs and Reimbursements (Details) (Fees and Expense Reimbursement, Stock Offering, American Realty Capital Advisors V, LLC (Advisor) and Realty Capital Securities, LLC (Dealer Manager), Advisor and Dealer Manager, USD $)	3 Months Ended		5 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013
Fees and Expense Reimbursement, Stock Offering \| American Realty Capital Advisors V, LLC (Advisor) and Realty Capital Securities, LLC (Dealer Manager) \| Advisor and Dealer Manager	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'
Total commissions and fees from the Dealer Manager	$0	$5,325	$5,325	($253)	'
Due to Affiliate	$0	'	'	$0	$226

Related_Party_Transactions_and6

Related Party Transactions and Arrangements Fees Paid in Connection With the Operations of the Company (Details) (USD $)

18 Months Ended

3 Months Ended

5 Months Ended

In Millions, except Share data, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

American Realty Capital Advisors V, LLC

Realty Capital Securities, LLC

Maximum

Annual Targeted Investor Return

Sales Commissions and Dealer Manager Fees

Absorbed General and Administrative Expenses

Greater Of

Contract Purchase Price

Advance on Loan or Other Investment

Amount Available or Outstanding Under Financing Arrangement

Transaction Value

American Realty Capital Advisors V, LLC

Maximum

Advisor

Dealer Manager

Contract Purchase Price

Advance on Loan or Other Investment

Contract Purchase Price, All Assets Acquired

Pre-tax Non-compounded Return on Capital Contribution

Advisor

American Realty Capital Advisors V, LLC

Advisor

Average Invested Assets

Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets

Advisor

Related Party Transaction [Line Items]

Acquisition fees earned by related party percentage

1.00%

Financing advance fees earned by related party percentage

1.00%

4.50%

Expected third party acquisition costs reimbursable

0.50%

Acquisition fees and acquisition related expenses

4.50%

1.50%

Financing coordination fees earned

0.75%

Listing advisory fee earned

0.25%

Cumulative capital investment return

6.00%

Quarterly asset management fee earned

0.19%

Antidilutive shares (in shares)

339,678

Share Price (in dollars per share)

$22.50

Operating expenses as a percentage of benchmark

2.00%

25.00%

Amounts of transaction

$0.10

Related_Party_Transactions_and7

Related Party Transactions and Arrangements Fees Paid in Connection With the Operations of the Company, Incurred, Forgiven and Payable (Details) (USD $)

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

3 Months Ended

5 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Incurred

Forgiven

Payable

Nonrecurring Fees

Recurring Fees

Incurred

Forgiven

Payable

Incurred

Forgiven

Payable

Acquisition fees and related cost reimbursements

Financing coordination fees

Other expense reimbursements

Transaction fees

Acquisition fees and related cost reimbursements

Financing coordination fees

Other expense reimbursements

Transaction fees

Acquisition fees and related cost reimbursements

Financing coordination fees

Other expense reimbursements

Transaction fees

Strategic advisory fees

Distributions on Class B Units

Strategic advisory fees

Distributions on Class B Units

Strategic advisory fees

Distributions on Class B Units

Related Party Transaction [Line Items]

Total commissions and fees from the Dealer Manager

$3,526

$48

$17,661

$1,754

$48

$10,578

$900

$5,678

$763

$1,253

$109

$152

Due to Affiliate

$332

$2,648

$332

$2,630

$18

Related_Party_Transactions_and8

Related Party Transactions and Arrangements Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets (Details) (USD $)	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014
RCS Advisory Services, LLC \| Advisory Transaction Services	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Amounts of transaction	'	$0	$0	'
Transaction agreement amount	3,000,000	'	'	3,000,000
Total commissions and fees from the Dealer Manager	1,000,000	'	'	1,000,000
Realty Capital Securities, LLC and American National Stock Transfer, LLC \| Advisory Transaction Services	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Transaction agreement amount	1,900,000	'	'	1,900,000
Total commissions and fees from the Dealer Manager	600,000	0	0	600,000
Pre-tax Non-compounded Return on Capital Contribution \| American Realty Capital Advisors V, LLC \| Advisor	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Subordinated performance fee as a percentage of benchmark	15.00%	'	'	15.00%
Pre-tax Non-compounded Return on Capital Contribution \| American Realty Capital Trust V Special Limited Partner, LLC \| Special Limited Partner	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Subordinated participation fees as a percentage of benchmark	15.00%	'	'	15.00%
Excess of Adjusted Market Value of Real Estate Assets Plus Distributions Over Aggregate Contributed Investor Capital \| American Realty Capital Trust V Special Limited Partner, LLC \| Special Limited Partner	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Subordinated participation fees as a percentage of benchmark	15.00%	'	'	15.00%
Annual Targeted Investor Return \| Pre-tax Non-compounded Return on Capital Contribution \| American Realty Capital Advisors V, LLC \| Advisor	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Cumulative capital investment return	6.00%	'	'	6.00%
Maximum \| Pre-tax Non-compounded Return on Capital Contribution \| American Realty Capital Advisors V, LLC \| Advisor	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Subordinated performance fee as a percentage of benchmark	10.00%	'	'	10.00%
Maximum \| Brokerage Commission Fees \| Contract Sales Price \| American Realty Capital Advisors V, LLC \| Advisor	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Real estate commissions as a percentage of benchmark	2.00%	'	'	2.00%
Maximum \| Real Estate Commissions \| Contract Sales Price \| American Realty Capital Advisors V, LLC \| Advisor	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Real estate commissions as a percentage of benchmark	6.00%	'	'	6.00%
Option One \| RCS Capital \| Advisory Transaction Services	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
As a percentage of transaction value	0.25%	'	'	0.25%
Option Two \| RCS Capital \| Advisory Transaction Services	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Transaction agreement amount	1,000,000	'	'	1,000,000
Option Three \| RCS Capital \| Advisory Transaction Services	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Transaction agreement amount	$1,000,000	'	'	$1,000,000

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (Restricted Share Plan, Restricted Stock, USD $)	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014
Restricted Share Plan \| Restricted Stock	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares granted automatically upon election to board of directors (in shares)	1,333	'	'	1,333
Vesting period	'	'	'	'5 years
Periodic vesting percentage	20.00%	'	'	20.00%
Maximum authorized amount as a percentage of shares authorized	'	'	'	5.00%
Number of shares authorized (in shares)	3,400,000	'	'	3,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]	'	'	'	'
Beginning Balance (in shares)	'	'	'	4,000
Granted (in shares)	'	'	'	3,999
Vested (in shares)	'	'	'	-800
Ending Balance (in shares)	7,199	'	'	7,199
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]	'	'	'	'
Beginning Balance (in dollars per share)	'	'	'	$22.50
Granted (in dollars per share)	'	'	'	$22.50
Vested (in dollars per share)	'	'	'	$22.50
Ending Balance (in dollars per share)	$22.50	'	'	$22.50
Share based compensation expense	$6,000	$34,000	$34,000	$11,000
Unrecognized compensation costs	$200,000	'	'	$200,000
Weighted average period for recognition	'	'	'	'4 years 4 months 29 days

ShareBased_Compensation_Other_

Share-Based Compensation - Other Share-Based Compensation (Details) (USD $)	3 Months Ended		5 Months Ended	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'	'	'
Value of shares issued in lieu of cash	$0	$8	$8	$0
Shares issued in lieu of cash (in shares)	0	356	356	0

Net_Loss_Per_Share_Details

Net Loss Per Share (Details) (USD $)	3 Months Ended		5 Months Ended	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Net loss	($1,872)	($215)	($244)	($12,461)
Basic and diluted weighted-average shares outstanding (in shares)	64,018,318	5,173,574	3,100,904	63,359,596
Basic and diluted net loss per share (in dollars per share)	($0.03)	($0.04)	($0.08)	($0.20)
Antidilutive shares (in shares)	'	'	4,090	346,967
Restricted Stock	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares (in shares)	'	'	4,000	7,199
OP Units	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares (in shares)	'	'	90	90
Class B Units	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares (in shares)	'	'	0	339,678

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended	6 Months Ended	1 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Jul. 30, 2014
	Jun. 30, 2014	Jun. 30, 2014	Subsequent Event
Subsequent Event [Line Items]	'	'	'
Sale of investments in redeemable preferred stock	'	'	$13
Realized gain on securities sold	$0.10	($0.10)	$0.30