Cover Page
Cover Page - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 18, 2021 | Jun. 30, 2020 | |
Entity Listings [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Transition Report | false | ||
Entity File Number | 001-38597 | ||
Entity Registrant Name | American Finance Trust, Inc. | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 90-0929989 | ||
Entity Address, Address Line One | 650 Fifth Ave. | ||
Entity Address, Address Line Two | 30th Floor | ||
Entity Address, City or Town | New York | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 10019 | ||
City Area Code | 212 | ||
Local Phone Number | 415-6500 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 861.7 | ||
Entity Common Stock, Shares Outstanding | 108,837,209 | ||
Documents Incorporated by Reference | Portions of the registrant’s proxy statement to be delivered to stockholders in connection with the registrant’s 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K. The registrant intends to file its proxy statement within 120 days after its fiscal year end. | ||
Entity Central Index Key | 0001568162 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Class A Common Stock, $0.01 par value per share | |||
Entity Listings [Line Items] | |||
Title of 12(b) Security | Class A Common Stock, $0.01 par value per share | ||
Trading Symbol | AFIN | ||
Security Exchange Name | NASDAQ | ||
7.50% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | |||
Entity Listings [Line Items] | |||
Title of 12(b) Security | 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | ||
Trading Symbol | AFINP | ||
Security Exchange Name | NASDAQ | ||
7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | |||
Entity Listings [Line Items] | |||
Title of 12(b) Security | 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | ||
Trading Symbol | AFINO | ||
Security Exchange Name | NASDAQ | ||
Preferred Stock Purchase Rights | |||
Entity Listings [Line Items] | |||
Title of 12(b) Security | Preferred Stock Purchase Rights | ||
No Trading Symbol Flag | true | ||
Security Exchange Name | NASDAQ |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Real estate investments, at cost: | ||
Land | $ 723,316 | $ 685,889 |
Buildings, fixtures and improvements | 2,830,508 | 2,681,485 |
Acquired intangible lease assets | 454,245 | 448,175 |
Total real estate investments, at cost | 4,008,069 | 3,815,549 |
Less: accumulated depreciation and amortization | (639,367) | (529,052) |
Total real estate investments, net | 3,368,702 | 3,286,497 |
Cash and cash equivalents | 102,860 | 81,898 |
Restricted cash | 10,537 | 17,942 |
Deposits for real estate investments | 137 | 85 |
Deferred costs, net | 16,663 | 17,467 |
Straight-line rent receivable | 66,581 | 46,976 |
Operating lease right-of-use assets | 18,546 | 18,959 |
Prepaid expenses and other assets (including $1,939 and $503 due from related parties as of December 31, 2020 and 2019, respectively) | 23,941 | 19,188 |
Assets held for sale | 0 | 1,176 |
Total assets | 3,607,967 | 3,490,188 |
LIABILITIES AND EQUITY | ||
Mortgage notes payable, net | 1,490,798 | 1,310,943 |
Credit facility | 280,857 | 333,147 |
Below-market lease liabilities, net | 78,674 | 84,041 |
Accounts payable and accrued expenses (including $273 and $1,153 due to related parties as of December 31, 2020 and 2019, respectively) | 25,210 | 26,817 |
Operating lease liabilities | 19,237 | 19,318 |
Derivative liabilities, at fair value | 123 | 0 |
Deferred rent and other liabilities | 9,794 | 10,392 |
Dividends payable | 3,675 | 3,300 |
Total liabilities | 1,908,368 | 1,787,958 |
Common stock, $0.01 par value per share, 300,000,000 shares authorized, 108,837,209 and 108,475,266 shares issued and outstanding as of December 31, 2020 and 2019, respectively | 1,088 | 1,085 |
Additional paid-in capital | 2,723,678 | 2,615,089 |
Accumulated other comprehensive loss | (123) | 0 |
Distributions in excess of accumulated earnings | (1,055,680) | (932,912) |
Total stockholders’ equity | 1,669,077 | 1,683,331 |
Non-controlling interests | 30,522 | 18,899 |
Total equity | 1,699,599 | 1,702,230 |
Total liabilities and equity | 3,607,967 | 3,490,188 |
7.50% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | ||
LIABILITIES AND EQUITY | ||
Cumulative redeemable perpetual preferred stock | 79 | 69 |
7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | ||
LIABILITIES AND EQUITY | ||
Cumulative redeemable perpetual preferred stock | $ 35 | $ 0 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Prepaid expenses and other assets, due from related parties | $ 1,939 | $ 503 |
Accounts payable and accrued expenses, due to related parties | $ 273 | $ 1,153 |
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) | 108,837,209 | 108,475,266 |
Common stock, outstanding (in shares) | 108,837,209 | 108,475,266 |
7.50% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | ||
Preferred stock dividend rate | 7.50% | 7.50% |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock liquidation preference (in dollars per share) | $ 25 | $ 25 |
Preferred stock, authorized (in shares) | 8,796,000 | 8,796,000 |
Preferred stock, issued (in shares) | 7,842,008 | 6,917,230 |
Preferred stock, outstanding (in shares) | 7,842,008 | 6,917,230 |
7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | ||
Preferred stock dividend rate | 7.375% | 7.375% |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock liquidation preference (in dollars per share) | $ 25 | $ 25 |
Preferred stock, authorized (in shares) | 3,680,000 | 0 |
Preferred stock, issued (in shares) | 3,535,700 | 0 |
Preferred stock, outstanding (in shares) | 3,535,700 | 0 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues: | |||
Revenue from tenants | $ 305,224,000 | $ 299,744,000 | $ 291,207,000 |
Operating expenses: | |||
Asset management fees to related party | 27,829,000 | 25,695,000 | 23,143,000 |
Property operating expense | 52,296,000 | 52,715,000 | 54,068,000 |
Impairment of real estate investments | 12,910,000 | 827,000 | 21,080,000 |
Acquisition, transaction and other costs | 2,921,000 | 6,257,000 | 7,557,000 |
Listing fees | 0 | 0 | 4,988,000 |
Vesting and conversion of Class B Units | 0 | 0 | 15,786,000 |
Equity-based compensation | 13,036,000 | 12,717,000 | 5,266,000 |
General and administrative | 19,683,000 | 20,375,000 | 22,733,000 |
Depreciation and amortization | 137,459,000 | 124,713,000 | 139,907,000 |
Goodwill impairment | 0 | 1,605,000 | 0 |
Total operating expenses | 266,134,000 | 244,904,000 | 294,528,000 |
Operating income (loss) before gain on sale of real estate investments | 39,090,000 | 54,840,000 | (3,321,000) |
Gain on sale/exchange of real estate investments | 6,456,000 | 23,690,000 | 31,776,000 |
Operating income | 45,546,000 | 78,530,000 | 28,455,000 |
Other (expense) income: | |||
Interest expense | (78,467,000) | (77,994,000) | (66,789,000) |
Other income | 1,024,000 | 3,627,000 | 863,000 |
Loss on non-designated derivatives | (9,000) | 0 | 0 |
Total other expense, net | (77,452,000) | (74,367,000) | (65,926,000) |
Net (loss) income | (31,906,000) | 4,163,000 | (37,471,000) |
Net loss (income) attributable to non-controlling interests | 44,000 | (16,000) | 62,000 |
Allocation for preferred stock | (14,788,000) | (7,248,000) | 0 |
Net loss attributable to common stockholders | (46,650,000) | (3,101,000) | (37,409,000) |
Other comprehensive (loss) income: | |||
Change in unrealized (loss) gain on derivative | (123,000) | 531,000 | |
Change in unrealized (loss) gain on derivative | (626,000) | ||
Comprehensive loss attributable to common stockholders | $ (46,773,000) | $ (2,570,000) | $ (38,035,000) |
Basic and diluted weighted-average shares outstanding (in shares) | 108,404,093 | 106,397,296 | 105,560,053 |
Basic and diluted net loss per share attributable to stockholders (in dollars per share) | $ (0.43) | $ (0.03) | $ (0.35) |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands | Total | Impact of adoption of new accounting pronouncement for leases (Note 2) | Series A Preferred Stock | Series C Preferred Stock | Total Stockholders’ Equity | Total Stockholders’ EquityImpact of adoption of new accounting pronouncement for leases (Note 2) | Total Stockholders’ EquitySeries A Preferred Stock | Total Stockholders’ EquitySeries C Preferred Stock | Preferred StockSeries A Preferred Stock | Preferred StockSeries C Preferred Stock | Common Stock | Additional Paid-in Capital | Additional Paid-in CapitalSeries A Preferred Stock | Additional Paid-in CapitalSeries C Preferred Stock | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Accumulated DeficitImpact of adoption of new accounting pronouncement for leases (Note 2) | Non-controlling Interests |
Beginning balance (in shares) at Dec. 31, 2017 | 0 | 0 | 105,172,185 | |||||||||||||||
Beginning Balance at Dec. 31, 2017 | $ 1,741,056 | $ 1,736,510 | $ 0 | $ 0 | $ 1,052 | $ 2,393,237 | $ 95 | $ (657,874) | $ 4,546 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Common stock issued through distribution reinvestment plan (in shares) | 1,000,000 | 990,393 | ||||||||||||||||
Common stock issued through distribution reinvestment plan | $ 23,248 | 23,248 | $ 10 | 23,238 | ||||||||||||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201602Member | |||||||||||||||||
Common stock repurchases (in shares) | (1,225,365) | (1,142,190) | ||||||||||||||||
Common stock repurchases | $ (20,531) | (20,531) | $ (11) | (20,520) | ||||||||||||||
Vesting and conversion of Class B Units (in shares) | 1,052,420 | |||||||||||||||||
Vesting and conversion of Class B Units | 15,786 | 15,786 | $ 11 | 15,775 | ||||||||||||||
Redemption of Class A Units (in shares) | 30,691 | |||||||||||||||||
Redemption of Class A Units | 0 | (736) | (736) | (736) | ||||||||||||||
Share-based compensation, net of forfeitures (in shares) | 127,402 | |||||||||||||||||
Share-based compensation, net of forfeitures | 5,266 | 450 | $ 1 | 449 | 4,816 | |||||||||||||
Distributions declared on Common Stock | (116,539) | (116,539) | (116,539) | |||||||||||||||
Distributions to non-controlling interest holders | (454) | (225) | (225) | (229) | ||||||||||||||
Net loss | (37,471) | (37,409) | (37,409) | (62) | ||||||||||||||
Other comprehensive income (loss) | (626) | (626) | (626) | |||||||||||||||
Ending balance (in shares) at Dec. 31, 2018 | 0 | 0 | 106,230,901 | |||||||||||||||
Ending Balance at Dec. 31, 2018 | $ 1,609,735 | $ (170) | 1,601,400 | $ (170) | $ 0 | $ 0 | $ 1,063 | 2,412,915 | (531) | (812,047) | $ (170) | 8,335 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Common stock issued through distribution reinvestment plan (in shares) | 0 | |||||||||||||||||
Common stock issued through distribution reinvestment plan | $ 0 | |||||||||||||||||
Issuance of new shares (in shares) | 6,917,230 | 2,229,647 | ||||||||||||||||
Issuance of new shares | $ 31,601 | $ 168,929 | 31,601 | $ 168,929 | $ 69 | $ 22 | 31,579 | $ 168,860 | ||||||||||
Common stock repurchases (in shares) | (412,939) | (19,870) | ||||||||||||||||
Common stock repurchases | $ (274) | (274) | $ (1) | (273) | ||||||||||||||
Share-based compensation, net of forfeitures (in shares) | 34,588 | |||||||||||||||||
Share-based compensation, net of forfeitures | 12,717 | 1,072 | $ 1 | 1,071 | 11,645 | |||||||||||||
Distributions declared on Common Stock | (117,100) | (117,100) | (117,100) | |||||||||||||||
Distributions to non-controlling interest holders | (654) | (494) | (494) | (160) | ||||||||||||||
Net loss | 4,163 | 4,147 | 4,147 | 16 | ||||||||||||||
Other comprehensive income (loss) | 531 | 531 | 531 | |||||||||||||||
Dividends declared on Preferred Stock | (7,248) | (7,248) | (7,248) | |||||||||||||||
Rebalancing of ownership percentage | 0 | 937 | 937 | (937) | ||||||||||||||
Ending balance (in shares) at Dec. 31, 2019 | 6,917,230 | 0 | 108,475,266 | |||||||||||||||
Ending Balance at Dec. 31, 2019 | $ 1,702,230 | 1,683,331 | $ 69 | $ 0 | $ 1,085 | 2,615,089 | 0 | (932,912) | 18,899 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Common stock issued through distribution reinvestment plan (in shares) | 0 | |||||||||||||||||
Common stock issued through distribution reinvestment plan | $ 0 | |||||||||||||||||
Issuance of new shares (in shares) | 924,778 | 3,535,700 | ||||||||||||||||
Issuance of new shares | (239) | $ 22,433 | $ 85,196 | (239) | $ 22,433 | $ 85,196 | $ 10 | $ 35 | (239) | $ 22,423 | $ 85,161 | |||||||
Share-based compensation, net of forfeitures (in shares) | 361,943 | |||||||||||||||||
Share-based compensation, net of forfeitures | 13,035 | 1,179 | $ 3 | 1,176 | 11,856 | |||||||||||||
Distributions declared on Common Stock | (75,952) | (75,952) | (75,952) | |||||||||||||||
Distributions to non-controlling interest holders | (532) | (411) | (411) | (121) | ||||||||||||||
Net loss | (31,906) | (31,862) | (31,862) | (44) | ||||||||||||||
Other comprehensive income (loss) | (123) | (123) | (123) | |||||||||||||||
Dividends declared on Preferred Stock | (14,543) | (14,543) | (14,543) | |||||||||||||||
Rebalancing of ownership percentage | 0 | 68 | 68 | (68) | ||||||||||||||
Ending balance (in shares) at Dec. 31, 2020 | 7,842,008 | 3,535,700 | 108,837,209 | |||||||||||||||
Ending Balance at Dec. 31, 2020 | $ 1,699,599 | $ 1,669,077 | $ 79 | $ 35 | $ 1,088 | $ 2,723,678 | $ (123) | $ (1,055,680) | $ 30,522 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares | Jul. 01, 2018 | Jul. 01, 2017 | Apr. 30, 2013 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Stockholders' Equity [Abstract] | ||||||
Dividends declared on common stock (in dollars per share) | $ 1.10 | $ 1.30 | $ 1.65 | $ 0.70 | $ 1.10 | $ 1.10 |
Dividends declared on preferred stock (in dollars per share) | $ 1.875 | $ 1.56 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | |||
Net loss | $ (31,906) | $ 4,163 | $ (37,471) |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||
Depreciation | 88,778 | 78,396 | 84,482 |
Amortization of in-place lease assets | 46,496 | 44,795 | 54,439 |
Amortization of deferred leasing costs | 2,184 | 1,522 | 986 |
Amortization (including accelerated write-off) of deferred financing costs | 8,212 | 7,598 | 5,648 |
Accretion of mortgage premiums and discounts on borrowings | (2,126) | (3,816) | (3,790) |
Amortization (accretion) of market lease and other intangibles, net | (6,149) | (7,372) | (15,518) |
Equity-based compensation | 13,036 | 12,717 | 5,266 |
Vesting and conversion of Class B Units | 0 | 0 | 15,786 |
Mark-to-market adjustments | 0 | 0 | (72) |
Loss on non-designated derivatives | 9 | 0 | 0 |
Gain on sale/exchange of real estate investments | (6,456) | (23,690) | (31,776) |
Impairment of real estate investments | 12,910 | 2,432 | 21,080 |
Payments of prepayment costs on mortgages | 807 | 4,491 | 4,224 |
Changes in assets and liabilities: | |||
Straight-line rent receivable | (19,824) | (9,521) | (9,596) |
Straight-line rent payable | 314 | 1,196 | 95 |
Prepaid expenses and other assets | (9,139) | (3,208) | (4,086) |
Accounts payable and accrued expenses | (3,831) | (1,458) | 1,694 |
Deferred rent and other liabilities | (598) | (2,675) | 3,646 |
Net cash provided by operating activities | 92,717 | 105,570 | 95,037 |
Cash flows from investing activities: | |||
Capital expenditures | (9,198) | (13,652) | (10,426) |
Acquisitions of investments in real estate and other assets | (220,412) | (428,939) | (241,772) |
Proceeds from sale of real estate investments | 6,707 | 34,813 | 66,455 |
Deposits | (53) | 2,952 | (2,472) |
Net cash used in investing activities | (222,956) | (404,826) | (188,215) |
Cash flows from financing activities: | |||
Proceeds from mortgage notes payable | 874,000 | 286,930 | 29,887 |
Payments on mortgage notes payable | (663,236) | (69,144) | (47,197) |
Proceeds from credit facility | 205,000 | 233,000 | 324,700 |
Payments on credit facility | (257,291) | (224,553) | (95,000) |
Payments of financing costs | (30,917) | (10,778) | (7,031) |
Payments of prepayment costs on mortgages | (807) | (4,491) | (4,224) |
Common stock repurchases | 0 | (274) | (20,531) |
Distributions on LTIP Units and Class A Units | (532) | (694) | (225) |
Dividends paid on common stock | (75,951) | (117,140) | (104,824) |
Dividends paid on preferred stock | (14,167) | (3,948) | 0 |
Proceeds from issuance of common stock, net | (211) | 31,601 | 0 |
Net cash provided by financing activities | 143,796 | 289,465 | 75,555 |
Net change in cash and cash equivalents | 13,557 | (9,791) | (17,623) |
Cash, cash equivalents and restricted cash, beginning of period | 99,840 | 109,631 | 127,254 |
Cash, cash equivalents and restricted cash, end of period | 113,397 | 99,840 | 109,631 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | |||
Cash and cash equivalents | 102,860 | 81,898 | 91,451 |
Restricted cash | 10,537 | 17,942 | 18,180 |
Supplemental Disclosures: | |||
Cash paid for interest | 72,758 | 72,826 | 63,839 |
Cash paid for income and franchise taxes | 720 | 217 | 1,100 |
Non-Cash Investing and Financing Activities: | |||
Preferred dividend declared but not yet paid | 3,675 | 3,300 | |
Assets received through substitution | 4,380 | 0 | 0 |
Assets provided through substitution | (2,180) | 0 | 0 |
Proceeds from real estate sales used to pay off related mortgage notes payable | 5,586 | 94,940 | 90,038 |
Mortgage notes payable released in connection with disposition of real estate | (5,586) | (94,940) | (90,038) |
Common stock issued through distribution reinvestment plan | 0 | 0 | 23,248 |
Accrued capital expenditures (payable) | 1,556 | 355 | 341 |
Series A Preferred Stock | |||
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock, net | 22,490 | 168,956 | 0 |
Non-Cash Investing and Financing Activities: | |||
Accrued offering costs - Series A Preferred Stock | 57 | 27 | 0 |
Series C Preferred Stock | |||
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock, net | 85,418 | 0 | 0 |
Non-Cash Investing and Financing Activities: | |||
Accrued offering costs - Series A Preferred Stock | 222 | 0 | 0 |
Class A Common Stock, $0.01 par value per share | |||
Non-Cash Investing and Financing Activities: | |||
Accrued offering costs - Series A Preferred Stock | 28 | 0 | 0 |
Preferred Stock | Dividend Declared | |||
Non-Cash Investing and Financing Activities: | |||
Preferred dividend declared but not yet paid | $ 3,676 | $ 3,300 | $ 0 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Organization American Finance Trust, Inc. (the “Company”), is an externally managed real estate investment trust for U.S. federal income tax purposes (“REIT”) focusing on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution-related commercial real estate properties located primarily in the United States. The Company’s assets consist primarily of freestanding single-tenant properties that are net leased to “investment grade” and other creditworthy tenants and a portfolio of multi-tenant retail properties consisting primarily of power centers and lifestyle centers. The Company intends to focus its future acquisitions primarily on net leased, single-tenant service retail properties, defined as properties leased to tenants in the retail banking, restaurant, grocery, pharmacy, gas, convenience, fitness, and auto services sectors. As of December 31, 2020, the Company owned 920 properties, comprised of 19.3 million rentable square feet, which were 93.9% leased, including 887 single-tenant, net leased commercial properties (849 of which are leased to retail tenants) and 33 multi-tenant retail properties. Substantially all of the Company’s business is conducted through American Finance Operating Partnership, L.P. (the “OP”), a Delaware limited partnership, and its wholly owned subsidiaries. American Finance Advisors, LLC (the “Advisor”) manages the Company’s day-to-day business with the assistance of the Company’s property manager, American Finance Properties, LLC (the “Property Manager”). The Advisor and the Property Manager are under common control with AR Global Investments, LLC (“AR Global”) and these related parties receive compensation and fees for providing services to us. The Company also reimburses these entities for certain expenses they incur in providing these services to the Company. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Accounting The accompanying consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company, the OP and its subsidiaries. All inter-company accounts and transactions are eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity (“VIE”) for which the Company is the primary beneficiary. The Company has determined the OP is a VIE of which the Company is the primary beneficiary. Substantially all of the Company’s assets and liabilities are held by the OP. The Company has determined the OP is a VIE of which the Company is the primary beneficiary. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, and fair value measurements, as applicable. Impacts of the COVID-19 Pandemic During the first quarter of 2020, the global COVID-19 pandemic that has spread around the world and to every state in the United States commenced. The pandemic has had and could continue to have an adverse impact on economic and market conditions, including a global economic slowdown or recession. The continued rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact of COVID-19 on economic and market conditions. The Company believes the estimates and assumptions underlying its consolidated financial statements are reasonable and supportable based on the information available as of December 31, 2020, however uncertainty over the ultimate impact COVID-19 will have on the global economy generally, and the Company’s business in particular, makes any estimates and assumptions as of December 31, 2020 inherently less certain than they would be absent the current and potential impacts of COVID-19. Actual results may ultimately differ from those estimates. The financial stability and overall health of tenants is critical to the Company’s business. The negative effects that the global pandemic has had on the economy includes the closure or reduction in activity for many retail operations such as some of those operated by the Company’s tenants (e.g., restaurants). This has impacted the ability of some of the Company’s tenants to pay their monthly rent either temporarily or in the long-term. The Company has experienced delays in rent collections in the second, third and fourth quarters of 2020. The Company has taken a proactive approach to achieve mutually agreeable solutions with its tenants and in some cases, in the second, third and fourth quarters of 2020, the Company has executed several types of lease amendments. These agreements include deferrals and abatements (i.e. rent credits) and also may include extensions to the term of the leases. For accounting purposes, in accordance with ASC 842: Leases, normally a company would be required to assess a lease modification to determine if the lease modification should be treated as a separate lease and if not, modification accounting would be applied which would require a company to reassess the classification of the lease (including leases for which the prior classification under ASC 840 was retained as part of the election to apply the package of practical expedients allowed upon the adoption of ASC 842, which does not apply to leases subsequently modified). However, in light of the COVID-19 pandemic in which many leases are being modified, the FASB and SEC have provided relief that allows companies to make a policy election as to whether they treat COVID-19 related lease amendments as a provision included in the pre-concession arrangement, and therefore, not a lease modification, or to treat the lease amendment as a modification. In order to be considered COVID-19 related, cash flows must be substantially the same or less than those prior to the concession. For COVID-19 relief qualified changes, there are two methods to potentially account for such rent deferrals or abatements under the relief, (1) as if the changes were originally contemplated in the lease contract or (2) as if the deferred payments are variable lease payments contained in the lease contract. For all other lease changes that did not qualify for FASB relief, the Company would be required to apply modification accounting including assessing classification under ASC 842. Some, but not all of the Company’s lease modifications qualify for the FASB relief. In accordance with the relief provisions, instead of treating these qualifying leases as modifications, the Company has elected to treat the modifications as if previously contained in the lease and recast rents receivable prospectively (if necessary). Under that accounting, for modifications that were deferrals only, there would be no impact on overall rental revenue and for any abatement amounts that reduced total rent to be received, the impact would be recognized ratably over the remaining life of the lease. For leases not qualifying for this relief, the Company has applied modification accounting and determined that there were no changes in the current classification of its leases impacted by negotiations with its tenants. In addition to the proactive measures taken on rent collections, the Company has taken additional steps to maximize its flexibility related to its liquidity and minimize the related risk during this uncertain time. In March and April 2020, consistent with the Company’s plans to acquire additional properties, the Company borrowed an additional $170.0 million and $20 million, net, respectively, under its revolving unsecured corporate credit facility (the “Credit Facility”). Additionally, on March 30, 2020, the Company announced a reduction in the Company’s dividend, beginning in the second quarter of 2020, reducing the cash needed to fund dividend payments by approximately $27.2 million per year based on shares outstanding at that time. In addition, on July 24, 2020, the Company and its lenders modified the terms of its Credit Facility including, among other things, the covenants to provide more operating flexibility. In connection with the Company’s refinancing of certain mortgage debt in July 2020, the Company repaid approximately $197 million outstanding under its Credit Facility. The Company repaid an additional $25 million outstanding under its Credit Facility in December 2020 using cash on hand (see Note 4 — Mortgage Notes Payable, Net for additional information). However, the ultimate impact on the Company’s future results of operations, its liquidity and the ability of its tenants to continue to pay rent will depend on the overall length and severity of the COVID-19 pandemic, which management is unable to predict. Out-of-Period Adjustments During the three months ended March 31, 2019, the Company identified certain historical errors in its accounting for its land leases (as lessee) which impacted the previously issued quarterly and annual financial statements. Specifically, the Company did not consider whether a penalty would be considered to exist for impairment of leasehold improvements when considering whether to include certain extension options in the lease term for accounting purposes. The land leases related to property acquired between 2013 and 2017. As of December 31, 2018, the cumulative impact of using the appropriate lease term in its straight line rent expense calculations for the operating leases was an understatement of rent expense and accrued rent liability of $0.9 million. The Company concluded that the errors noted above were not material to the current period or any historical periods presented and, accordingly, the Company adjusted the amounts on a cumulative basis in the first quarter of 2019. Revenue Recognition The Company’s revenues, which are derived primarily from lease contracts, which include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. As of December 31, 2020, these leases had an average remaining lease term of approximately 8.8 years. Because many of the Company’s leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable for, and include in revenue from tenants, unbilled rents receivable that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. For new leases after acquisition, the commencement date is considered to be the date the tenant takes control of the space. For lease modifications, the commencement date is considered to be the date the lease modification is executed. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. Pursuant to certain of the Company’s lease agreements, tenants are required to reimburse the Company for certain property operating expenses, in addition to paying base rent, whereas under certain other lease agreements, the tenants are directly responsible for all operating costs of the respective properties. Under ASC 842, the Company elected to report combined lease and non-lease components in a single line “Revenue from tenants.” For comparative purposes, the Company also elected to reflect prior revenue and reimbursements reported under ASC 842 also on a single line. For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis. The following table presents future base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude tenant reimbursements and 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 Base Rent Payments 2021 $ 268,535 2022 259,400 2023 246,195 2024 228,959 2025 210,543 Thereafter 1,307,238 $ 2,520,870 The Company owns certain properties with leases that include provisions for the tenant to pay contingent rental income based on a percent of the tenant’s sales upon the achievement of certain sales thresholds or other targets which may be monthly, quarterly or annual targets. As the lessor to the aforementioned leases, the Company defers the recognition of contingent rental income, until the specified target that triggered the contingent rental income is achieved, or until such sales upon which percentage rent is based are known. For the year ended December 31, 2020, 2019 and 2018, approximately $1.1 million, $0.9 million and $0.9 million, respectively, in contingent rental income is included in revenue from tenants in the consolidated statements of operations and comprehensive loss. The Company continually reviews receivables related to rent and unbilled rents receivable and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Under the leasing standard adopted on January 1, 2019 (see the “Recently Issued Accounting Pronouncements” section below), the Company is required to assess, based on credit risk only, if it is probable that the Company will collect virtually all of the lease payments at lease commencement date and it must continue to reassess collectability periodically thereafter based on new facts and circumstances affecting the credit risk of the tenant. Partial reserves, or the ability to assume partial recovery are not permitted. If the Company determines that it’s probable it will collect virtually all of the lease payments (rent and common area maintenance), the lease will continue to be accounted for on an accrual basis (i.e. straight-line). However, if the Company determines it’s not probable that it will collect virtually all of the lease payments, the lease will be accounted for on a cash basis and a full reserve would be recorded on previously accrued amounts in cases where it was subsequently concluded that collection was not probable. Cost recoveries from tenants are included in operating revenue from tenants beginning on January 1, 2019, in accordance with new accounting rules, on the accompanying consolidated statements of operations and comprehensive income (loss) in the period the related costs are incurred, as applicable. In the second, third and fourth quarters of 2020, this assessment included consideration of the impacts of the COVID-19 pandemic on the ability of our tenants to pay rents in accordance with their contracts. The assessment included all of the Company’s tenants with a focus on the Company’s multi-tenant retail properties which have been more negatively impacted by the COVID-19 pandemic than the Company’s single-tenant properties. Under ASC 842, uncollectable amounts are reflected as reductions in revenue from tenants. Under ASC 840, the Company recorded such amounts as bad debt expense as part of property operating expenses. As a result of the review and assessment as described above and the impacts of the COVID-19 pandemic on certain of the Company’s tenants, the Company recorded a reduction in revenue from tenants of $6.6 million during the years ended December 31, 2020. During the years ended December 31, 2019 and 2018, such amounts were $2.9 million (recorded as a reduction of revenue from tenants) and $2.7 million (recorded as bad debt expense in property operating expenses), respectively. On April 1, 2019, the Company entered into a termination agreement with a tenant at one of its multi-tenant properties which required the tenant to pay the Company a termination fee of $8.0 million. The Company then entered into two leases, one of which was subsequently terminated in 2020 to replace the tenant (see Note 3 — Real Estate Investments, Net — Tenant Improvement Write-Off for further details regarding this termination). As a result of the April 2019 termination, the Company recorded termination income, net, of $7.6 million during the second quarter of 2019, which is included in revenue from tenants during the year ended December 31, 2019. Investments in Real Estate Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. At the time an asset is acquired, the Company evaluates the inputs, processes and outputs of the asset acquired to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statements of operations and comprehensive loss. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and subsequently amortized over the useful life of the acquired assets. See the Purchase Price Allocation section in this Note for a discussion of the initial accounting for investments in real estate. Disposal of real estate investments that represent a strategic shift in operations that will have a major effect on the Company's operations and financial results are required to be presented as discontinued operations in the consolidated statements of operations. No properties were presented as discontinued operations during the years ended December 31, 2020, 2019 or 2018. Properties that are intended to be sold are to be designated as “held for sale” on the consolidated balance sheets at the lesser of carrying amount or fair value less estimated selling costs when they meet specific criteria to be presented as held for sale, most significantly that the sale is probable within one year. The Company evaluates probability of sale based on specific facts including whether a sales agreement is in place and the buyer has made significant non-refundable deposits. Properties are no longer depreciated when they are classified as held for sale. As of December 31, 2020, the Company had no properties classified as held for sale, and, as of December 31, 2019, the Company had one property classified as held for sale (see Note 3 — Real Estate Investments, Net for additional information). As more fully discussed in this Note under Recently Issued Accounting Pronouncements - ASU No. 2016-02 Leases , all of the Company’s leases as lessor prior to adoption of the new leasing standard on January 1, 2019, were accounted for as operating leases and the Company continued to account for them as operating leases under the transition guidance. The Company evaluates new leases originated after the adoption date (by the Company or by a predecessor lessor/owner) pursuant to the new guidance where a lease for some or all of a building is classified by a lessor as a sales-type lease if the significant risks and rewards of ownership reside with the tenant. This situation is met if, among other things, there is an automatic transfer of title during the lease, a bargain purchase option, the non-cancelable lease term is for more than major part of remaining economic useful life of the asset (e.g., equal to or greater than 75%), if the present value of the minimum lease payments represents substantially all (e.g., equal to or greater than 90%) of the leased property’s fair value at lease inception, or if the asset so specialized in nature that it provides no alternative use to the lessor (and therefore would not provide any future value to the lessor) after the lease term. Further, such new leases would be evaluated to consider whether they would be failed sale-leaseback transactions and accounted for as financing transactions by the lessor. During the three-year period ended December 31, 2020, the Company had no leases as a lessor that would be considered as sales-type leases or financings under sale-leaseback rules. The Company is also the lessee under certain land leases which were previously classified prior to adoption of lease accounting and will continue to be classified as operating leases under transition elections unless subsequently modified. These leases are reflected on the balance sheet and the rent expense is reflected on a straight line basis over the lease term. Purchase Price Allocation In both a business combination and an asset acquisition, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities based on their respective fair values. Tangible assets may include land, land improvements, buildings, fixtures and tenant improvements on an as if vacant basis. Intangible assets may include the value of in-place leases and above- and below- market leases and other identifiable assets or liabilities based on lease or property specific characteristics. In addition, any assumed mortgages receivable or payable and any assumed or issued non-controlling interests (in a business combination) are recorded at their estimated fair values. In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above or below-market interest rates. In a business combination, the difference between the purchase price and the fair value of identifiable net assets acquired is either recorded as goodwill or as a bargain purchase gain. In an asset acquisition, the difference between the acquisition price (including capitalized transaction costs) and the fair value of identifiable net assets acquired is allocated to the non-current assets. All acquisitions during the years ended December 31, 2020, 2019 and 2018 were asset acquisitions. For acquired properties with leases classified as operating leases, the Company allocates the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their respective fair values. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. Tangible assets include land, land improvements, buildings, fixtures, and tenant improvements on an as-if vacant basis. The Company utilizes various estimates, processes and information to determine the as-if vacant property value. The Company estimates fair value using data from appraisals, comparable sales, discounted cash flow analysis and other methods. Fair value estimates are also made using significant assumptions such as capitalization rates, fair market lease rates, discount rates, and land values per square foot. Identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates and the value of in-place leases. Factors considered in the analysis of the in-place lease intangibles include an estimate of carrying costs during the expected lease-up period for each property, taking into account current market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at contract rates during the expected lease-up period, which typically ranges from six Above-market and below-market lease values for acquired properties are initially recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining initial term of the lease for above-market leases and the remaining initial term plus the term of any below-market fixed rate renewal options for below-market leases. The aggregate value of intangible assets related to customer relationship, as applicable, is measured based on the Company's evaluation of the specific characteristics of each tenant’s lease and the Company's overall relationship with the tenant. Characteristics considered by the Company in determining these values include the nature and extent of its existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals, among other factors. The Company did not record any intangible asset amounts related to customer relationships during the years ended December 31, 2020 and 2019. Gain on Sale/Exchange of Real Estate Investments Gains on sales of rental real estate are not considered sales to customers and are generally recognized pursuant to the provisions included in ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”). In accordance with ASC 845-10, Accounting for Non-Monetary Transactions, if a nonmonetary exchange has commercial substance, the cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain it, and a gain or loss shall be recognized on the exchange. Impairment of Long-Lived Assets When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the property for impairment. This review is based on an estimate of the future undiscounted cash flows expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If an impairment exists, due to the inability to recover the carrying value of a property, the Company would recognize an impairment loss in the consolidated statement of operations and comprehensive loss to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss recorded would equal the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net earnings. Goodwill and Goodwill Impairment The Company had no goodwill recorded as of December 31, 2020 and 2019 and $1.6 million of goodwill recorded as of December 31, 2018. The Company is required to assess whether its goodwill is impaired, which requires the Company to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Company evaluates goodwill for impairment at least annually or when other market events or circumstances occur that might indicate that goodwill is impaired. The Company performed its annual assessment in December 2018 and determined that there was no impairment of goodwill. Given fluctuations in the market price of the Class A common stock, the Company performed a reassessment as of June 30, 2019, which included the assessment of relevant metrics such as estimated carrying and fair market value of the Company’s real estate and market-based factors. Based on these assessments, the Company determined that goodwill was impaired and recorded an impairment charge of $1.6 million for the year ended December 31, 2019. There was no goodwill impairment for the year ended December 31, 2020. Reportable Segment The Company has one reportable segment, income-producing properties, which consists of activities related to investing in real estate. Depreciation and Amortization The Company is required to make subjective assessments as to the useful lives of the components of its real estate investments for purposes of determining the amount of depreciation to record on an annual basis. These assessments have a direct impact on the Company’s results from operations because if the Company were to shorten the expected useful lives of its real estate investments, the Company would depreciate these investments over fewer years, resulting in more depreciation expense and lower earnings on an annual basis. Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and improvements and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to expense over the remaining periods of the respective leases. The value of customer relationship intangibles, if any, is amortized to expense over the initial term of the lease and any renewal periods in the respective leases, but in no event does the amortization period for intangible assets exceed the remaining depreciable life of the building. If a tenant terminates its lease, the unamortized portion of the in-place lease value and customer relationship intangibles is charged to expense. Assumed mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining terms of the respective mortgages. Above and Below-Market Lease Amortization Capitalized above-market lease values are amortized as a reduction of revenue from tenants over the remaining terms of the respective leases and the capitalized below-market lease values are amortized as an increase to revenue from tenants over the remaining initial terms plus the terms of any below-market fixed rate renewal options of the respective leases. If a tenant with a below-market rent renewal does not renew, any remaining unamortized amount will be taken into income at that time. Capitalized above-market ground lease values are amortized as a reduction of property operating expense over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property operating expense over the remaining terms of the respective leases and expected below-market renewal option periods. Upon termination of an above or below-market lease any unamortized amounts would be recognized in the period of termination. Derivative Instruments The Company may use derivative financial instruments to hedge all or a portion of the interest rate risk associated with its borrowings. Certain of the techniques used to hedge exposure to interest rate fluctuations may also be used to protect against declines in the market value of assets that result from general trends in debt markets. The principal objective of such agreements is to minimize the risks and costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designated and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any change in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the accompanying consolidated statements of operations and comprehensive loss. If the derivative is designated and qualifies for hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) to the extent that it is effective. Any ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Non-controllin |
Real Estate Investments
Real Estate Investments | 12 Months Ended |
Dec. 31, 2020 | |
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 years ended December 31, 2020, 2019 and 2018. All acquisitions in 2020, 2019 and 2018 were considered asset acquisitions for accounting purposes. Year Ended December 31, (Dollars in thousands) 2020 2019 2018 Real estate investments, at cost: Land $ 41,517 $ 76,610 $ 61,745 Buildings, fixtures and improvements 153,048 288,549 140,151 Total tangible assets 194,565 365,159 201,896 Acquired intangible assets and liabilities: [1] In-place leases 27,873 66,787 39,978 Above-market lease assets 1,786 1,973 1,055 Below-market lease liabilities (3,812) (4,980) (1,157) Total intangible assets, net 25,847 63,780 39,876 Consideration paid for acquired real estate investments, net of liabilities assumed $ 220,412 $ 428,939 $ 241,772 Number of properties purchased 107 218 130 __________ [1] Weighted-average remaining amortization periods for in-place leases, above-market lease assets, below-market ground lease asset, and below-market lease liabilities acquired during the year ended December 31, 2020 were 14.8 years, 15.7 years, and 23.5 years, respectively, as of each property’s respective acquisition date. Total acquired intangible lease assets and liabilities consist of the following as of the dates presented: December 31, 2020 December 31, 2019 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets: In-place lease assets $ 430,610 $ 176,011 $ 254,599 $ 424,509 $ 151,474 $ 273,035 Above-market lease assets 23,635 9,129 14,506 23,666 8,152 15,514 Total acquired intangible lease assets $ 454,245 $ 185,140 $ 269,105 $ 448,175 $ 159,626 $ 288,549 Intangible liabilities: Below-market lease liabilities $ 104,758 $ 26,084 $ 78,674 $ 106,435 $ 22,394 $ 84,041 Total acquired intangible lease liabilities $ 104,758 $ 26,084 $ 78,674 $ 106,435 $ 22,394 $ 84,041 The following table presents amortization expenses and adjustments to revenue from tenants and property operating expenses for intangible assets and liabilities for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, (In thousands) 2020 2019 2018 In-place leases, included in depreciation and amortization $ 46,496 $ 44,795 $ 54,439 Above-market lease intangibles $ (2,794) $ (3,375) $ (4,441) Below-market lease liabilities 8,994 10,796 19,989 Total included in revenue from tenants $ 6,200 $ 7,421 $ 15,548 Below-market ground lease asset [1] $ 32 $ 32 $ 32 Above-market ground lease liability [1] (1) (2) (2) Total included in property operating expenses $ 31 $ 30 $ 30 __________ [1] Upon adoption of ASC 842 effective January 1, 2019, intangible balances related to ground leases were reclassified to be included as part of the Operating lease right-of-use assets presented on the Company’s consolidated balance sheet with no change to placement of the amortization expense of such balances included in property operating expenses on the Company’s consolidated statements of operations and comprehensive loss. See Note 2 — Summary of Significant Accounting Polices - Recently Issued Accounting Pronouncements for additional information. The following table provides the projected amortization expenses and adjustments to revenue from tenants for intangible assets and liabilities for the next five years: Year Ended December 31, (In thousands) 2021 2022 2023 2024 2025 In-place leases, to be included in depreciation and amortization $ 36,462 $ 32,665 $ 30,385 $ 27,666 $ 24,376 Above-market lease intangibles $ 2,361 $ 2,003 $ 1,755 $ 1,617 $ 1,204 Below-market lease liabilities (6,359) (6,014) (5,854) (5,643) (5,425) Total to be included in revenue from tenants $ (3,998) $ (4,011) $ (4,099) $ (4,026) $ (4,221) Real Estate Held for Sale When assets are identified by management as held for sale, the Company ceases depreciation and amortization of the identified assets and estimates the sales price, net of costs to sell, of those assets. If the carrying amount of the assets classified as held for sale exceeds the estimated net sales price, the Company records an impairment charge equal to the amount by which the carrying amount of the assets exceeds the Company’s estimate of the net sales price of the assets. For additional information on impairment charges, see “Impairment Charges” section below. As of December 31, 2020, there were no properties classified as held for sale and, as of December 31, 2019, there was one property classified as held for sale. During the year ended December 31, 2020, the Company sold the one property that was held for sale as of December 31, 2019. The disposal of this property did not represent a strategic shift. Accordingly, the operating results of this property remains classified within continuing operations for all periods presented. The following table details the major classes of assets associated with the properties that have been reclassified as held for sale as of December 31, 2020 and 2019: (In thousands) December 31, 2019 Real estate investments held for sale, at cost: Land $ 563 Buildings, fixtures and improvements 750 Total real estate assets held for sale, at cost 1,313 Less accumulated depreciation and amortization (137) Total real estate investments held for sale, net 1,176 Assets held for sale $ 1,176 Real Estate Sales/Exchanges During the year ended December 31, 2020, the Company sold six properties leased to Truist Bank (formerly known as SunTrust Bank, “Truist Bank”), for an aggregate contract price of $13.3 million, exclusive of closing costs and related mortgage repayments. These sales resulted in aggregate gains of $4.3 million. In addition, the Company recorded a gain on sale of $2.2 million related to a non-monetary exchange of two properties then owned by the Company pursuant to a tenant’s exercise of its right to substitute properties under its lease. These gains are reflected in gain on sale/exchange of real estate investments on the consolidated statement of operations and comprehensive loss for the year ended December 31, 2020. During the year ended December 31, 2019, the Company closed on the sale of 25 properties, including 22 properties leased to Truist Bank, for an aggregate contract price of $131.7 million, exclusive of closing costs. These sales resulted in aggregate gains of $23.7 million, which are reflected in gain on sale of real estate investments on the consolidated statement of operations and comprehensive loss for the year ended December 31, 2019. During the year ended December 31, 2018, the Company closed on the sale of 44 properties, including 31 properties leased to Truist Bank, which had lease terms that expired between December 31, 2017 and March 31, 2018, for an aggregate contract price of $161.5 million, exclusive of closing costs. These sales resulted in aggregate gains of $31.8 million, which is reflected in gain on sale of real estate investments on the consolidated statement of operations and comprehensive loss for the year ended December 31, 2018. Real Estate Held for Use When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the property for impairment. For the Company, the most common triggering events are (i) concerns regarding the tenant (i.e., credit or expirations) in the Company’s single-tenant properties (ii) significant or sustained vacancy in the Company’s multi-tenant properties and (iii) changes to the Company’s expected holding period as a result of business decisions or non-recourse debt maturities. For all of its held for use properties, the Company had reconsidered the projected cash flows due to various performance indicators and where appropriate, and the Company evaluated the impact on its ability to recover the carrying value of such properties based on the expected cash flows over the intended holding period. See “Impairment Charges” below for discussion of specific charges taken. If a triggering event for held for use single-tenant properties is identified, the Company uses either a market approach or an income approach to estimate the future cash flows expected to be generated. The market approach involves evaluating comparable sales of properties in the same geographic region as the held for use properties in order to determine an estimated sale price. The Company makes certain assumptions including, among others, that the properties in the comparable sales used in the analysis share similar characteristics to the held for use properties, and that market and economic conditions at the time of any potential sales of these properties, such as discount rates; demand for space; competition for tenants; changes in market rental rates; and costs to operate the property, would be similar to those in the comparable sales analyzed. Under the income approach, the Company evaluates the impact on its ability to recover the carrying value of such properties based on the expected cash flows over its intended holding period. The Company makes certain assumptions in this approach including, among others, the market and economic conditions, expected cash flow projections, intended holding periods and assessments of terminal values. Where more than one possible scenario exists, the Company uses a probability weighted approach. As these factors are difficult to predict and are subject to future events that may alter management’s assumptions, the future cash flows estimated by management in its impairment analysis may not be achieved, and actual losses or additional impairment may be realized in the future. During the year ended December 31, 2020, the Company owned six held for use properties for which the Company reconsidered their projected cash flows. One of these was a multi-tenant property which was evaluated due to a significant sustained vacancy rate as well as a change in the Company’s expected holding period. Two were single-tenant properties under a definitive purchase and sale agreement (“PSA”) which did not meet the criteria for held for sale treatment as of December 31, 2020. In this instance, the Company used the proportionate contract purchase price from the PSA to estimate the future cash flows expected to be generated in the sale scenario. The Company made certain assumptions in this approach as well, mainly that the sale of these properties would close at the terms specified in the non-binding letter of intent or PSA. Three were single-tenant properties which were vacant. During the year ended December 31, 2019, the Company owned one held for use single-tenant net lease property leased to Truist Bank, which had lease terms that expired on December 31, 2017 and was vacant. Impairment Charges The Company recorded total impairment charges of $12.9 million for the year ended December 31, 2020, $11.5 million of which related to one of its multi-tenant held-for-use properties which was recorded to adjust the property to its fair value as determined by the income approach described above, and $1.4 million of which related to three single-tenant properties, two of which were impaired to adjust the property to their fair value as determined by the income approach described above and one of which was impaired to adjust the property to the contract price of its PSA . The Company recorded total impairment charges of $0.8 million for the year ended December 31, 2019. This amount is comprised of impairment charges of $0.1 million, which were recorded upon reclassification of properties to assets held for sale to adjust the properties to their fair value less estimated cost of disposal and impairment charges of $0.7 million, which was recorded on one held for use property leased to Truist Bank during the year ended December 31, 2019. The Company recorded total impairment charges of $21.1 million for the year ended December 31, 2018. This amount is comprised of impairment charges of $11.0 million, which were recorded upon reclassification of properties to assets held for sale to adjust the properties to their fair value less estimated cost of disposal and impairment charges of $10.1 million were recorded on 12 (including impairments of $1.7 million on nine properties leased to Truist Bank) the Company’s held for use properties. The majority of the impairment charges on the held for use properties related to two multi-tenant properties. Tenant Improvements Write-Off |
Mortgage Notes Payable, Net
Mortgage Notes Payable, Net | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Mortgage Notes Payable, Net | Mortgage Notes Payable, Net The Company’s mortgage notes payable, net as of December 31, 2020 and 2019 consisted of the following: Outstanding Loan Amount as of Effective Interest Rate as of December 31, December 31, Portfolio Encumbered Properties 2020 2019 2020 Interest Rate Maturity Anticipated Repayment (In thousands) (In thousands) Class A-1 Net Lease Mortgage Notes 95 $ 119,084 $ 120,294 3.83 % Fixed May 2049 May 2026 Class A-2 Net Lease Mortgage Notes 106 121,000 121,000 4.52 % Fixed May 2049 May 2029 Total Net Lease Mortgage Notes 201 240,084 241,294 SAAB Sensis I 1 $ 6,217 $ 6,660 5.93 % Fixed Apr. 2025 Apr. 2025 Truist Bank II 15 9,560 10,860 5.50 % Fixed Jul. 2031 Jul. 2021 Truist Bank III 76 60,952 62,228 5.50 % Fixed Jul. 2031 Jul. 2021 Truist Bank IV 10 3,792 6,626 5.50 % Fixed Jul. 2031 Jul. 2021 Sanofi US I [8] 1 125,000 125,000 3.26 % Fixed [9] Sep. 2025 Sep. 2025 Stop & Shop [1] 4 45,000 45,000 3.49 % Fixed Jan. 2030 Jan. 2030 Mortgage Loan I [2] [7] — — 497,150 — % n/a n/a n/a Column Financial Mortgage Notes 368 715,000 — 3.79 % Fixed Aug. 2025 Aug. 2025 Shops at Shelby Crossing 1 21,677 22,139 4.97 % Fixed Mar. 2024 Mar. 2024 Patton Creek [10] 1 34,000 39,147 4.82 % Variable Dec. 2021 Dec. 2021 Bob Evans I 23 23,950 23,950 4.71 % Fixed Sep. 2037 Sep. 2027 Mortgage Loan II 12 210,000 210,000 4.25 % Fixed Jan. 2028 Jan. 2028 Mortgage Loan III 22 33,400 33,400 4.12 % Fixed Jan. 2028 Jan. 2028 Gross mortgage notes payable 735 1,528,632 1,323,454 4.02 % (4) Deferred financing costs, net of accumulated amortization [5] (38,760) (15,564) Mortgage premiums and discounts, net [6] 926 3,053 Mortgage notes payable, net $ 1,490,798 $ 1,310,943 __________ [1] The prior Stop & Shop loan was refinanced on December 19, 2019 with a new loan (see Stop & Shop Loan section below). In connection with the prior loan, the Company paid prepayment penalties of approximately $2.0 million, which are included in the acquisition, transaction and other costs on the consolidated statement of operations and comprehensive (loss) income. [2] In connection with repayment a portion of this mortgage note, the Company paid prepayment penalties of $1.6 million in the second quarter of 2019, which are included in the acquisition, transaction and other costs on the consolidated statement of operations and comprehensive (loss) income. [3] This loan was repaid in connection with the issuance of the Net Lease Mortgage Notes (see definition below) in the second quarter of 2019 and all 39 properties, which were previously encumbered under Mortgage Loan IV were added to the collateral pool for the Net Lease Mortgage Notes. As a result of repaying the loan, remaining unamortized deferred financing costs of $0.8 million were written off, which is included in interest expense in the consolidated statement of operations. Also, the “pay-fixed” interest rate swap agreements related to Mortgage Loan IV were terminated upon repayment (see Note 7 — Derivatives and Hedging Activities ), which is included in interest expense in the consolidated statement of operations. [4] Calculated on a weighted-average basis for all mortgages outstanding as of December 31, 2020. [5] Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close. [6] Mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining terms of the respective mortgages. [7] On July 24, 2020, this mortgage loan was repaid prior to its maturity with a portion of the proceeds from a $715 million loan secured by 368 properties (see “Loan Agreement With Column Financial” section below for additional information). [8] On September 4, 2020 this mortgage loan was refinanced (see “New Sanofi Loan Agreement” section below). [9] Mortgage is fixed by an interest rate swap agreement (see “New Sanofi Loan Agreement” section below). [10] On December 1, 2020, this mortgage loan was refinanced (see “New Patton Creek Loan Agreement” section below). As of December 31, 2020 and 2019, the Company had pledged $2.8 billion and $2.5 billion, respectively, in real estate investments, at cost as collateral for its mortgage notes payable. This real estate is not available to satisfy other debts and obligations unless first satisfying the mortgage notes payable on the properties. In addition, as of December 31, 2020, $1.1 billion in real estate investments were included in the unencumbered asset pool comprising the borrowing base under the Credit Facility (see Note 5 — Credit Facility for definition). Therefore, this real estate is only available to serve as collateral or satisfy other debts and obligations if it is first removed from the borrowing base under the Credit Facility. The following table summarizes the scheduled aggregate principal payments on mortgage notes payable based on anticipated repayment dates for the five years subsequent to December 31, 2020 and thereafter: (In thousands) Future Principal Payments 2021 $ 110,471 2022 2,311 2023 2,643 2024 22,287 2025 845,771 Thereafter 545,149 $ 1,528,632 The Company’s mortgage notes payable agreements require compliance with certain property-level financial covenants including debt service coverage ratios. As of December 31, 2020, the Company was in compliance with financial covenants under its mortgage notes payable agreements. New Patton Creek Loan Agreement On December 1, 2020, the Company, through a wholly owned subsidiary, refinanced the mortgage loan with Column Financial. The loan is secured by the Company’s Patton Creek multi-tenant property in Alabama. In connection with the refinancing, the Company paid $7.3 million in cash on hand to reduce the principal balance outstanding to $34.0 million and paid for closing fees of $2.8 million. The loan bears interest at a floating interest rate of one-month LIBOR plus 4.25%. The loan is interest-only with the principal due at maturity on December 6, 2021. Beginning on this initial maturity date, the floating interest rate will increase to one-month LIBOR plus 5.25% if the Company exercises its option to extend the loan past its initial maturity to December 6, 2022. In conjunction with this refinancing, the Company entered into an interest cap agreement for a notional amount of $34.0 million. The Company has elected to treat the interest rate cap as a non-designated derivative instrument, and the changes in the fair value of the cap will be accounted for as a mark-to-market adjustment in the consolidated statement of operations and comprehensive loss in each reporting period (see Note 7 — Derivatives and Hedging Activities for more information). New Sanofi Loan Agreement On September 4, 2020, the Company, through a wholly owned subsidiary, borrowed $125.0 million from a syndicate of regional banks led by BOK Financial. The syndicated balance sheet loan is secured by three of the Company’s single-tenant buildings located in Bridgewater, New Jersey that serve as the U.S. headquarters for Sanofi US Services Inc. At closing, all net proceeds from the loan and approximately $2.6 million in cash on hand were used to repay the previously outstanding mortgage indebtedness encumbering the property, which included a $0.5 million defeasance fee reflected in acquisition and transaction costs on the consolidated statement of operations and comprehensive loss for the year ended December 31, 2020. The loan bears interest at a floating interest rate of one-month LIBOR plus 2.9%, with the effective interest rate fixed at 3.27% by a swap agreement which was effective on October 13, 2020. The loan is interest-only with the principal due at maturity on September 4, 2025. The Company may prepay the loan in whole or in part at any time subject to applicable prepayment penalties. In conjunction with this refinance, the Company was approached by the former owners of the Sanofi property regarding the release of a pre-acquisition escrow account of approximately $1.7 million associated with tenant improvements at the property which would not otherwise have been released until 2027. In exchange for permitting the early release of the escrow, the Company received approximately half of the balance, or $0.8 million, which is reflected in “Other Income” on our consolidated statement of comprehensive income. The Sanofi property was acquired in 2014. Loan Agreement with Column Financial On July 24, 2020, the Company, through wholly owned subsidiaries, entered into a loan agreement with Column Financial, Inc. for a $715.0 million loan. The loan is secured by, among other things, a first mortgage on 368 single-tenant properties located in 41 states and the District of Columbia, totaling approximately 7.1 million square feet. The loan agreement permits the lender to either securitize the loan or any portion thereof or bifurcate the loan into a senior mortgage loan and a subordinate mezzanine loan. The loan bears interest at a fixed rate of 3.743% and matures on August 6, 2025. The loan requires payments of interest only, with the principal balance due on the maturity date. The loan may be prepaid at any time, in whole or in part, subject to payment of a yield maintenance premium for any prepayments made prior to April 6, 2025. The loan agreement also contains provisions pursuant to which, subject to certain conditions and limitations, mortgaged properties may be released or replaced and provisions related to circumstances under which all rent and other revenue received from the mortgaged properties will be directly deposited into a bank account controlled by the lender and used to pay obligations under the loan. At closing, of the approximately $697.1 million of net proceeds from the loan after fees and expenses, $696.2 million was used to repay $499.0 million for a mortgage loan originally due September 2020 bearing an interest rate of 4.36% per annum, and the remainder was used to repay outstanding amounts under the Credit Facility. Of the 368 single-tenant properties securing the new loan, 223 were previously held as collateral under the mortgage loan originally due September 2020, and all but one of the remaining properties were previously part of the borrowing base under the Credit Facility. The loan is nonrecourse to the borrowers, except for certain enumerated recourse liabilities of the borrowers under the loan agreement, which the OP has guaranteed pursuant to a limited recourse guaranty in favor of the lender. The guaranty also requires the OP to maintain a minimum net worth of $1.0 billion. In addition, the OP and the borrowers have indemnified the lender, pursuant to an environmental indemnity agreement, against certain environmental liabilities. Stop & Shop Loan On December 18, 2019, subsidiaries of the Company entered into a loan agreement (“Stop & Shop Loan”) with Morgan Stanley Bank, N.A., for a principal amount of $45.0 million at a fixed interest rate of 3.445% per annum. The Stop & Shop Loan requires monthly interest-only payments, with the principal balance due on the maturity date in January 2030 and is secured by mortgage interests in four of the Company’s properties, three of which are located in the state of Massachusetts, totaling approximately 0.3 million square feet. The Stop & Shop Loan permits the lender to securitize the loan or any portion thereof. Net Lease Mortgage Notes On May 30, 2019, subsidiaries of the Company completed the issuance of $242.0 million aggregate principal amount of Net Lease Mortgage Notes (the “Net Lease Mortgage Notes”), in a private placement exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The Net Lease Mortgage Notes have been issued using a master trust structure, which enables additional series of notes to be issued upon the contribution of additional properties to the collateral pool without the need to structure a new securitization transaction. Any new notes that are so issued will be cross collateralized with the current Net Lease Mortgage Notes. The Net Lease Mortgage Notes were issued in two classes, Class A-1 (the “Class A-1 Net Lease Mortgage Notes”) and Class A-2 (the “Class A-2 Net Lease Mortgage Notes”). The Class A-1 Net Lease Mortgage Notes are rated AAA (sf) by Standard & Poor’s and had an initial principal amount of $121.0 million with an anticipated repayment date in May 2026 and an interest rate of 3.78% per annum. The Class A-2 Net Lease Mortgage Notes are rated A (sf) by Standard & Poor’s and had an initial principal amount of $121.0 million with an anticipated repayment date in May 2029 and an interest rate of 4.46% per annum. The Class A-1 Net Lease Mortgage Notes require interest and principal amortization payments until the applicable anticipated repayment date. The Class A-2 Net Lease Mortgage Notes are interest-only until June 2020, when principal amortization payments are required until the applicable anticipated repayment date. The Net Lease Mortgage Notes are collectively currently amortizing at a rate of approximately 0.5% per annum. The Net Lease Mortgage Notes may be redeemed at any time prior to their anticipated repayment date subject to payment of a make-whole premium. If any class of Net Lease Mortgage Notes is not paid in full at its respective anticipated repayment date, additional interest will begin to accrue on those Net Lease Mortgage Notes. The Net Lease Mortgage Notes have a rated final payment date in May 2049. As of December 31, 2020, the collateral pool for the Net Lease Mortgage Notes was comprised of 201 of the Company’s double- and triple-net leased single-tenant properties that had been transferred to the subsidiaries of the Company that issued the Net Lease Mortgage Notes, together with the related leases and certain other rights and interests. The net proceeds from the sale of the Net Lease Mortgage Notes were used to repay $204.9 million in indebtedness related to 192 of the properties then in the collateral pool securing the Net Lease Mortgage Notes, and approximately $37.1 million of the remaining net proceeds were available to the Company for general corporate purposes, including to fund acquisitions. At closing, the Company repaid mortgage notes of $29.9 million previously secured by 39 individual properties and repaid $175.0 million in outstanding borrowings under the Credit Facility. The Company removed 153 of its properties from the borrowing base under the Credit Facility to serve as part of the collateral pool for the Net Lease Mortgage Notes in connection with this repayment and added ten recently acquired properties to the collateral pool securing the Net Lease Mortgage Notes. The subsidiaries of the Company may release or exchange properties from the collateral pool securing the Net Lease Mortgage Notes subject to various terms and conditions, including paying any applicable make-whole premium and limiting the total value of properties released or exchanged to not more than 35% of the aggregate collateral value. These conditions, including the make-whole premium, do not apply under certain circumstances, including a prepayment in an aggregate amount of up to 35% of the initial principal balance if the prepayment is funded with proceeds from qualifying deleveraging events, such as a firm commitment underwritten registered public equity offering by the Company that generates at least $75.0 million in net proceeds, that occur following June 2021. The Net Lease Mortgage Notes have two debt service coverage ratio tests. If the monthly debt service coverage ratio falls below 1.3x and is not cured, cash flow that would be available to pay certain subordinated expenses or be released to the Company will instead be deposited into a reserve account. If the three-month average debt service coverage ratio falls below 1.2x and is not cured, all remaining cash flow after payments of interest on the Net Lease Mortgage Notes will be applied to pay principal on the Net Lease Mortgage Notes (first on the Class A-1 Net Lease Mortgage Notes and then on the Class A-2 Net Lease Mortgage Notes). |
Credit Facility
Credit Facility | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Credit Facility | Credit Facility On April 26, 2018, the Company repaid its prior revolving unsecured corporate credit facility in full and entered into (the “Credit Facility”) with BMO Harris Bank, N.A. (“BMO Bank”) as administrative agent, Citizens Bank, N.A. and SunTrust Robinson Humphrey, Inc., as joint lead arrangers, and the other lenders from time to time party thereto. In September 2018, the lenders under the Credit Facility increased the aggregate total commitments under the Credit Facility by $125.0 million, bringing total commitments to $540.0 million. On July 24, 2020, the Company, through the OP as the borrower thereunder, entered into an amendment to the Credit Facility with BMO Bank, as administrative agent, and the other lenders party thereto. The amendment became effective as of April 1, 2020 and is designed to provide the Company with additional flexibility during the period from April 1, 2020 through March 31, 2021 (the “Adjustment Period”) to continue addressing the adverse impacts of the COVID-19 pandemic. The amendment revises specific provisions in the Credit Facility governing: (i) the payment of dividends; (ii) leverage coverage; (iii) borrowing availability; (iv) fixed charge coverage; (v) the interest rate; and (vi) acquisitions. These revisions, which are generally incorporated into the description below, are generally only effective during the Adjustment Period, after which the previously effective terms of the Credit Facility will be reinstated. The Credit Facility includes an uncommitted “accordion feature” whereby, upon the request of the OP, but at the sole discretion of the participating lenders, the commitments under the Credit Facility may be increased by up to an additional $500.0 million, subject to obtaining commitments from new lenders or additional commitments from participating lenders and certain customary conditions. As of December 31, 2020, the Company had increased its commitments through this accordion feature by $125.0 million, leaving $375.0 million of potential increase remaining. The amount available for future borrowings under the Credit Facility is based on the lesser of (i) 60% of the value of the pool of eligible unencumbered real estate assets comprising the borrowing base, and (ii) a maximum amount of total unsecured indebtedness that could be incurred while maintaining a minimum unsecured interest coverage ratio with respect to the borrowing base, in each case, as of the determination date. During the Adjustment Period (a) the value of all eligible unencumbered real estate assets comprising the borrowing base purchased through June 30, 2020 will generally be reduced by 10%, and (b) the minimum unsecured interest coverage ratio required to be maintained by the eligible unencumbered real estate assets comprising the borrowing base was decreased during the fiscal quarter ended June 30, 2020 and will be increased during the other fiscal quarters of the Adjustment Period. As of December 31, 2020, the Company had a total borrowing capacity under the Credit Facility of $406.9 million based on the value of the borrowing base under the Credit Facility and of this amount, $280.9 million was outstanding under the Credit Facility as of December 31, 2020 and $126.0 million remained available for future borrowings. During the Adjustment Period, (i) all properties acquired with proceeds from the borrowings under the Credit Facility must be added to the borrowing base, and (ii) the Company is prohibited from acquiring any multi-tenant properties and from making certain other investments. Following the amendment in July 2020, the Company is also restricted from using proceeds from borrowings under the Credit Facility to accumulate or maintain cash or cash equivalents in excess of amounts necessary to meet current working capital requirements, as determined in good faith by the OP. In addition, in accordance with the Credit Facility, in order for the Company to make payments required to fund certain share repurchases, the Company would be required to satisfy a maximum leverage ratio after giving effect to the payments and also have a combination of cash, cash equivalents and amounts available for future borrowings under the Credit Facility of not less than $40.0 million. During the Adjustment Period, the Company is not permitted to repurchase shares by tender offer or otherwise. The Credit Facility requires payments of interest only. The maturity date of the Credit Facility is April 26, 2022 and the Company has a one-time right, subject to customary conditions, to extend the maturity date for an additional term of one year to April 26, 2023. Borrowings under the Credit Facility bear interest at either (i) the Base Rate (as defined in the Credit Facility) 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. Pursuant to the amendment to the Credit Facility in July 2020, from July 24, 2020 until delivery of the compliance certificate for the fiscal quarter ending June 30, 2021, the margin will be 1.5% with respect to the Base Rate and 2.5% with respect to LIBOR regardless of the Company’s consolidated leverage ratio, and the “floor” on LIBOR was increased from 0.00% to 0.25%. As of December 31, 2020 the Company has elected to use the LIBOR rate for all its borrowings under the Credit Facility. As of December 31, 2020 and December 31, 2019, the weighted-average interest rate under the Credit Facility was 2.79% and 3.80%, respectively. In July 2017, the Financial Conduct Authority (which regulates LIBOR) announced it intends to stop compelling banks to submit rates for the calculation of LIBOR after 2021. As a result, the Federal Reserve Board and the Federal Reserve Bank of New York organized the Alternative Reference Rates Committee, which identified the Secured Overnight Financing Rate (“SOFR”) as its preferred alternative to LIBOR in derivatives and other financial contracts. On November 30, 2020, the Financial Conduct Authority announced a partial extension of this deadline, indicating its intention to cease the publication of the one-week and two-month USD LIBOR settings immediately following December 31, 2021, and the remaining USD LIBOR settings immediately following the LIBOR publication on June 30, 2023. The Company is not able to predict when LIBOR may be limited or discontinued or when there will be sufficient liquidity in the SOFR market. The Company is monitoring and evaluating the risks related to potential changes in LIBOR availability, which include potential changes in interest paid on debt and amounts received and paid on interest rate swaps. In addition, the value of debt or derivative instruments tied to LIBOR could also be impacted when LIBOR is limited or discontinued and contracts must be transitioned to a new alternative rate. In some instances, transitioning to an alternative rate may require negotiation with lenders and other counterparties and could present challenges. To transition from LIBOR under the Credit Facility, the Company will either utilize the Base Rate (as defined in the Credit Facility) or an alternative benchmark established by the agent in accordance with the terms of the Credit Facility, which will be SOFR if available or an alternate benchmark that is being widely used in the market at that time as selected by the agent. The Credit Facility contains various customary operating covenants, including the restricted payments covenant described in more detail below, as well as covenants restricting, among other things, the incurrence of liens, investments, fundamental changes, agreements with affiliates and changes in nature of business. The Credit Facility also contains financial maintenance covenants with respect to maximum consolidated leverage, maximum consolidated secured leverage, minimum fixed charge coverage, maximum other recourse debt to total asset value, and minimum net worth. During the Adjustment Period, the calculation of Total Asset Value (as defined in the Credit Facility) - which serves as the basis for the denominator used to calculate the maximum consolidated leverage, maximum consolidated secured leverage and maximum other recourse debt to total asset value financial maintenance covenants in the Credit Facility - will be adjusted such that the value ascribed to the Company’s multi-tenant properties purchased through June 30, 2020 will generally be decreased by 10.0% for the duration of the Adjustment Period. During the Adjustment Period, the minimum fixed charge coverage ratio financial maintenance covenant in the Credit Facility will be decreased. Additionally, during the Adjustment Period, the OP must maintain, as of the end of each month starting with June 2020, a combination of cash, cash equivalents and amounts available for future borrowings under the Credit Facility of not less than $100.0 million. Pursuant to the Credit Facility, the Company may not pay distributions, including cash dividends on equity securities (including the Company’s 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (“Series A Preferred Stock”) and 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (“Series C Preferred Stock”)) in an aggregate amount exceeding 95% of MFFO (as defined in the Credit Facility) for any look-back period of four consecutive fiscal quarters without seeking consent from the lenders under the Credit Facility. On November 9, 2019, the Company entered into an amendment to the Credit Facility which permits the Company to pay distributions in an aggregate amount not exceeding 105% of MFFO for any applicable period if, as of the last day of the period, the Company is able to satisfy a maximum leverage ratio after giving effect to the payments and also has a combination of cash, cash equivalents and amounts available for future borrowings under the Credit Facility of not less than $60.0 million. During the Adjustment Period the Company is generally permitted to pay distributions up to 105% of annualized MFFO for a look-back period of two consecutive fiscal quarters for the fiscal quarter ending December 31, 2020 and a look-back period of three consecutive fiscal quarters for the fiscal quarter ending March 31, 2021 if, as of the last day of the period, after giving effect to the payment of those dividends and distributions, the Company has a combination of cash, cash equivalents and amounts available for future borrowings under the Credit Facility of not less than $125.0 million. If this level of liquidity is not maintained, the applicable threshold percentage of MFFO will be 95% instead of 105%. If applicable, during the continuance of an event of default under the Credit Facility, the Company may not pay dividends or other distributions in excess of the amount necessary for the Company to maintain its status as a REIT. As of December 31, 2020, the Company was in compliance with the operating and financial covenants under the Credit Facility. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair Value Hierarchy GAAP establishes a hierarchy of valuation techniques based on the observability of inputs used in measuring assets and liabilities at fair value. GAAP establishes market-based or observable inputs as the preferred sources of values, followed by valuation models using management assumptions in the absence of market inputs. The three levels of the hierarchy are described below: 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. 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. The Company’s policy with respect to transfers between levels of the fair value hierarchy is to recognize transfers into and out of each level as of the end of the reporting period. There were no transfers between levels of the fair value hierarchy during the years ended December 31, 2020 and 2019. Financial Instruments Measured at Fair Value on a Recurring Basis Derivative Instruments The Company’s derivative instruments are measured at fair value on a recurring basis. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with this derivative utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2020, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivatives valuation in its entirety is classified in Level 2 of the fair value hierarchy. The valuation of derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and implied volatilities. In addition, credit valuation adjustments are incorporated into the fair values to account for the Company’s potential nonperformance risk and the performance risk of the counterparties. Real Estate Investments Measured at Fair Value on a Non-Recurring Basis Real Estate Investments - Held for Sale The Company has had impaired real estate investments classified as held for sale (see Note 3 — Real Estate Investments for additional information on impairment charges recorded by the Company). There were no impaired real estate investments held for sale as of December 31, 2020 and 2019. The carrying value of impaired real estate investments held for sale on the consolidated balance sheet represents their estimated fair value less cost to sell. Impaired real estate investments held for sale are generally classified in Level 3 of the fair value hierarchy. Real Estate Investments - Held for Use The Company has had impaired real estate investments that were classified as held for use at the time of impairment (see Note 3 — Real Estate Investments for additional information on impairment charges incurred by the Company). The carrying value of these held for use impaired real estate investments on the consolidated balance sheet represents their estimated fair value at the time of impairment. The Company primarily uses a market approach to estimate future cash flows expected to be generated. Impaired real estate investments which are held for use are generally classified in Level 3 of the fair value hierarchy. Financial Instruments that are not Reported at Fair Value The carrying 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 dividends payable approximates their fair value due to their short-term nature. As of December 31, 2020, the fair value of advances to the Company under the Credit Facility was $278.8 million due to the widening of the credit spreads during the current period. These advances had a carrying value of $280.9 million as of December 31, 2020. As of December 31, 2019, the $333.1 million carrying value of advances under the Credit Facility approximated their fair value. The fair value of advances under the Credit Facility are based on estimates of market credit spreads and interest rates. This approach relies on unobservable inputs and therefore is classified as Level 3 in the fair value hierarchy. The carrying value of the Company’s mortgage notes payable as of December 31, 2020 and 2019 were $1.5 billion and $1.3 billion, respectively, and the fair value of the Company’s mortgage notes payable were $1.6 billion and $1.3 billion, respectively. The fair value of gross mortgage notes payable is based on estimates of market interest rates. This approach relies on unobservable inputs and therefore is classified as Level 3 in the fair value hierarchy. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its related parties may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations. The Company entered into an interest rate swap on September 1, 2020 for a notional amount of $125.0 million, which became effective on October 13, 2020, in order to fix the interest rate on a mortgage loan that was refinanced in September 2020 (see Note 4 — Mortgage Notes Payable for additional information). The interest rate swap fixes interest on the mortgage at an effective interest rate of 3.26% and expires in July 2026. Additionally, in conjunction with the refinancing of a mortgage loan in December 2020, the Company entered into an interest rate cap agreement for a notional amount of $34.0 million. The fair value of this interest rate cap is insignificant and therefore is not shown on the consolidated balance sheet as of December 31, 2020 (see Note 4 — Mortgage Notes Payable for additional information). The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the accompanying consolidated balance sheets as of December 31, 2020. The Company did not have any derivative instruments outstanding as of December 31, 2019 due to the termination of its interest rate swaps after the repayment of certain mortgages during the third quarter of 2019 (see Note 4 — Mortgage Notes Payable, Net for additional information). (In thousands) Balance Sheet Location December 31, 2020 Derivatives designated as hedging instruments: Interest Rate “Pay-fixed” Swaps Derivative liabilities, at fair value $ 123 Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Effective January 1, 2019 and upon adoption of ASU No. 2017-12 (see Note 2 — Summary of Significant Accounting Policies) , all of the changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive loss (“AOCI”) and are subsequently reclassified into earnings in the period that the hedged forecasted transaction impacts earnings. Prior to January 1, 2019, the ineffective portion of the change in fair value of the derivatives was recognized directly in earnings. During the years ended December 31, 2020, 2019 and 2018, such derivatives were used to hedge the variable cash flows associated with variable-rate debt. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During the next twelve months, the Company estimates that $0.2 million will be reclassified from other comprehensive loss as an increase to interest expense. Additionally, during the year ended December 31, 2019, the Company accelerated the reclassification of amounts in other comprehensive income to earnings because it became probable that the hedged forecasted amounts would not occur. This acceleration resulted in a loss of $1.5 million during the year ended December 31, 2019, which is included in interest expense in the consolidated statement of operations and comprehensive loss. As of December 31, 2020 the Company had the following derivatives that were designated as cash flow hedges of interest rate risk: December 31, 2020 Interest Rate Derivative Number of Notional Amount (In thousands) Interest Rate “Pay-fixed” Swaps 1 $ 125,000 The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the years ended December 31, 2020, 2019 and 2018, respectively: Year Ended December 31, (In thousands) 2020 2019 2018 Amount of loss recognized in AOCI on interest rate derivatives [1] $ (174) $ (979) $ (670) Amount of loss reclassified from AOCI into income as interest expense $ (51) $ (36) $ (125) Amount of gain recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) $ — $ — $ 81 Total interest expense recorded in the consolidated statement of operations and comprehensive loss $ 78,467 $ 77,994 $ 66,789 __________ [1] Excludes a loss of $1.5 million in the Company’s consolidated statements of operations for the year ended December 31, 2019 recorded upon termination of its interest rate swaps after the repayment of certain mortgages (see Note 4 — Mortgage Notes Payable, Net for additional information). Non-Designated Hedges These derivatives are used to manage the Company’s exposure to interest rate movements, but do not meet the strict hedge accounting requirements to be classified as hedging instruments. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company recorded a loss on non-designated hedging relationships of $9,000 during the year ended December 31, 2020. The Company did not record any gains or losses during the years ended December 31, 2019 and 2018 since the Company did not have any derivatives that were not designated as hedges of in qualifying hedging relationships during those years. As of December 31, 2020 the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships. December 31, 2020 Interest Rate Derivative Number of Notional Amount (In thousands) Interest Rate Cap 1 $ 34,000 Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2020. The Company did not have any derivatives outstanding as of December 31, 2019. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheets. Gross Amounts Not Offset on the Balance Sheet (In thousands) Gross Amounts of Recognized Assets Gross Amounts of Recognized (Liabilities) Gross Amounts Offset on the Balance Sheet Net Amounts of Assets (Liabilities) Presented on the Balance Sheet Financial Instruments Cash Collateral Received (Posted) Net Amount December 31, 2020 $ — $ 123 $ — $ 123 $ — $ — $ 123 |
Stockholders_ Equity and Non-Co
Stockholders’ Equity and Non-Controlling Interest | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Stockholders’ Equity and Non-Controlling Interest | Stockholders’ Equity and Non-Controlling Interest Common Stock As of December 31, 2020 and 2019, the Company had 108.8 million and 108.5 million shares, respectively, of Class A common stock outstanding including restricted shares of Class A common stock (“restricted shares”) and excluding LTIP Units. LTIP Units may ultimately be convertible into shares of Class A common stock in the future. Listing of the Company’s Common Stock To address the potential for selling pressure that may have existed at the outset of listing, the Company listed only shares of its Class A common stock, which represented approximately 50% of its outstanding shares of common stock, on Nasdaq on the Listing Date. The Company’s two other classes of outstanding stock at the time of the Listing were Class B-1 common stock, which comprised approximately 25% of the Company’s outstanding shares of common stock at that time, and Class B-2 common stock, which comprised approximately 25% of the Company’s outstanding shares of common stock at that time. In accordance with their terms, all shares of Class B-1 common stock automatically converted into shares of Class A common stock and were listed on Nasdaq on October 10, 2018 and all shares of Class B-2 common stock automatically converted into shares of Class A common stock and were listed on Nasdaq on January 9, 2019. Fractional shares of Class B-2 common stock totaling approximately 19,870 shares were repurchased at a price of $13.78 per share by the Company as a result of the automatic conversion. Each share of Class B-1 common stock and Class B-2 common stock was otherwise identical to each share of Class A common stock in all other respects, including the right to vote on matters presented to the Company’s stockholders, and shares of all different classes of common stock received the same dividends while there were different classes of common stock outstanding. Prior to Listing, the Company published an annual estimated net asset value per share of the Company’s common stock (“Estimated Per-Share NAV”) which was the price at which the Company sold its shares under the Pre-Listing DRIP (as defined below) and repurchased shares under the SRP (as defined below). Following the Listing, the Company’s previously published Estimated Per-Share NAV was no longer applicable, and the Company no longer publishes Estimated Per-Share NAV. Related to the Listing, the Company incurred fees of $5.0 million for the year ended December 31, 2018 for financial advisory and other transaction related costs. Corporate Actions In order to effect the Listing described above, the Company took the following corporate actions on July 3, 2018: • The Company effected a 2-to-1 reverse stock split combining every two shares of common stock, par value $0.01 per share, into one share of common stock, par value $0.02 per share, and subsequently reducing the resulting par value of the shares of common stock outstanding after the reverse stock split from $0.02 per share back to $0.01 per share. In addition, the Company changed the name of its common stock to “Class A common stock.” • The Company reclassified a number of authorized but unissued shares of Class A common stock equal to half of the number of shares of Class A common stock then outstanding into equal numbers of shares of Class B-1 common stock and shares of Class B-2 common stock. • The Company distributed to the holders of shares of Class A common stock a stock dividend equal to one-half share of Class B-1 common stock and one-half share of Class B-2 common stock for each share of Class A common stock outstanding. As a result of the corporate actions described above, the number of outstanding shares in total, and on a weighted-average basis for earnings per share purposes, remained the same with the exception of any fractional shares that were repurchased or forfeited as a result of the reverse stock split. The table below provides details of the Company’s outstanding shares of common stock as of June 30, 2018 (prior to the Listing) and December 31, 2018: June 30, 2018 (prior to the Listing) As of December 31, 2018 Shares Outstanding Class A Common Stock Class B-2 Common Stock Shares Outstanding Shares of common stock [1] 105,049,705 78,749,079 26,262,477 105,011,556 Vesting and conversion of Class B Units [2] [3] — 1,052,420 — 1,052,420 Redemption of Class A Units (formerly known as OP Units) [3] [4] — 30,691 — 30,691 Unvested restricted shares [5] 9,088 134,025 2,209 136,234 Total 105,058,793 79,966,215 26,264,686 106,230,901 __________ [1] See “Corporate Actions” above for a description of the reverse stock split and classification of shares as Class A common stock, Class B-1 common stock and Class B-2 common stock. Fractional shares of Class A common stock totaling 18,460 were repurchased by the Company as a result of the reverse stock split. In accordance with their terms, all shares of Class B-1 common stock automatically converted into shares of Class A common stock and were listed on Nasdaq on October 10, 2018. As a result of this conversion, on October 10, 2018, all fractional shares of Class B-1 common stock totaling approximately 19,945 shares were repurchased by the Company. Amount at June 30, 2018 included 8,888 shares of common stock owned by American Finance Special Limited Partner, LLC (the “Special Limited Partner”). During the second half of 2018, 4,444 shares of Class A common stock owned by the Special Limited Partner were distributed to individual members of the entity and, as a result, the Special Limited Partner owned 2,222 shares of Class A common stock and 2,222 shares of Class B-2 common stock as of December 31, 2018. [2] The performance-based restricted, forfeitable partnership units of the OP designated as “Class B Units” (“Class B Units”) vested and were converted into an equal number of units of limited partnership designated as “Class A Units” (“Class A Units”). In addition, effective at the Listing following this conversion and as approved by the Company’s board of directors, these Class A Units were redeemed for an equal number of newly issued shares of Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP (see Note 10 — Related Party Transactions and Arrangements for additional information). [3] Following the Listing, all of the shares of Class A common stock, Class B-1 common stock and Class B-2 common stock owned by the Advisor and its affiliates (including the Special Limited Partner) were distributed pro rata to the individual members of those entities, including Edward M. Weil, Jr., the Company’s chairman and chief executive officer. [4] Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, holders of Class A Units may redeem all or a portion of their Class A Units for, at the Company’s election, either shares of Class A common stock or the cash equivalent thereof. 203,612 Class A Units were eligible for redemption after the Listing. On July 20, 2018, 30,691 Class A Units held by the Special Limited Partner and another affiliate of the Advisor were redeemed for an equal number of newly issued shares of Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. [5] Fractional unvested restricted shares of common stock (“restricted shares”) held by the Company’s independent directors totaled approximately seven, and these fractional shares were forfeited in connection with the reverse stock split effected prior to the Listing. Also, during the three months ended September 30, 2018, the Company issued 127,402 restricted shares in the aggregate to members of the Company’s board of directors (see Note 12 — Equity-Based Compensation ). Tender Offers On February 15, 2018, in response to an unsolicited offer to the Company’s stockholders to purchase 1,000,000 shares of the Company’s common stock at a price of $13.66 per share, the Company commenced a tender offer for up to 1,000,000 shares at a price of $14.35 per share (the “February Offer”). The Company made the February Offer in order to deter an unsolicited bidder and other potential future bidders that might have tried to exploit the illiquidity of the Company’s then unlisted common stock. In accordance with the terms of the February Offer, which expired on March 27, 2018, the Company accepted for purchase 483,716 shares for a total cost of approximately $6.9 million, excluding fees and expenses relating to the February Offer. On May 1, 2018, in response to an unsolicited offer to the Company’s stockholders to purchase 1,000,000 shares of the Company’s common stock at a price of $15.35 per share, the Company commenced a tender offer for up to 1,000,000 shares at a price of $15.45 per share (the “May Offer”). The Company made the May Offer in order to deter an unsolicited bidder and other potential future bidders that might have tried to exploit the illiquidity of the Company’s then unlisted common stock. In accordance with the May Offer, which expired on May 31, 2018, the Company accepted for purchase 207,713 shares for a total cost of approximately $3.2 million, excluding fees and expenses relating to the May Offer. Terminated Share Repurchase Program In anticipation of the Listing, the Company’s board of directors terminated the Company’s previous share repurchase program (the “SRP”) in accordance with its terms, effective June 30, 2018. The Company’s board of directors had previously authorized the Company to repurchase shares pursuant to the SRP, which permitted investors to offer to sell their shares back to the Company at a price based on the then-current Estimated Per-Share NAV after they held them for at least one year, subject to certain conditions and limitations. The Company repurchased shares on a semiannual basis, at the sole discretion of the Company’s board of directors, with respect to each six-month period ending June 30 and December 31. When a stockholder requested repurchases and the repurchases were approved, the Company reclassified such an obligation from equity to a liability based on the settlement value of the obligation. Shares repurchased had the status of authorized but unissued shares. The following table summarizes the repurchases of shares under the SRP cumulatively through the SRP termination date of June 30, 2018: Number of Shares Weighted-Average Price per Share Cumulative repurchases as of December 31, 2014 303,907 $ 24.01 Year ended December 31, 2015 1,769,738 24.13 Year ended December 31, 2016 7,854 24.17 Year ended December 31, 2017 1,225,365 [1] 23.71 Year ended December 31, 2018 412,939 [2] 23.37 Cumulative repurchases as of December 31, 2018 3,719,803 23.90 _________ [1] Excludes rejected repurchase requests received during 2016 with respect to 5.9 million shares for $140.1 million at a weighted-average price per share of $23.65. Also, in July 2017, following the effectiveness of an amendment and restatement of the SRP pursuant to which only repurchase requests made following the death or qualifying disability of a stockholder were eligible for repurchase, the Company’s board of directors approved 100% of the repurchase requests made following the death or qualifying disability of stockholders during the period from January 1, 2017 to December 31, 2017. No repurchases were made with respect to requests received during 2017 that are not valid requests in accordance with the amended and restated SRP. At the time the SRP was terminated in anticipation of the Listing, effective June 30, 2018, we had received repurchase requests made following the death or qualifying disability of stockholders during the period from January 1, 2018 to June 30, 2018 with respect to 0.6 million shares that were therefore not repurchased. [2] During January 2018, the Company repurchased 412,939 shares for approximately $9.7 million at a price of $23.37 per share equal to the then current Estimated Per-Share NAV. Distribution Reinvestment Plan On June 29, 2018, the Company announced that its board of directors had suspended the Company’s then effective distribution reinvestment plan (the “Pre-Listing DRIP”) effective June 30, 2018. As a result, all dividends paid for the month of June 2018 were paid in cash in July 2018. Prior to its suspension, the Company’s stockholders were able to elect to reinvest dividends by purchasing shares of common stock from the Company at the applicable Estimated Per-Share NAV. On the Listing Date, an amendment and restatement of the Pre-Listing DRIP approved by the Company’s board of directors became effective (as so amended and restated, the “Post-Listing DRIP”). Commencing with the dividend paid on August 3, 2018 (the first dividend paid following the Listing Date), the Company’s stockholders that have elected to participate in the Post-Listing DRIP may have dividends payable with respect to all or a portion of their shares of the Company’s common stock (including Class A common stock, Class B-1 common stock, prior to its automatic conversion in Class A common stock on October 10, 2018, and Class B-2 common stock, prior to its automatic conversion in Class A common stock on January 9, 2019) reinvested in shares of Class A common stock. Shares issued pursuant to the Post-Listing DRIP represent shares that are, at the election of the Company, either (i) acquired directly from the Company, which would issue new shares, at a price based on the average of the high and low sales prices of Class A common stock on Nasdaq on the date of reinvestment, or (ii) acquired through open market purchases by the plan administrator at a price based on the weighted-average of the actual prices paid for all of the shares of Class A common stock purchased by the plan administrator with all participants’ reinvested dividends for the related quarter, less a per share processing fee. During 2020, 2019 and 2018, all shares acquired by participants pursuant to the Post-Listing DRIP were acquired through open market purchases by the plan administrator and not acquired directly from the Company. Shares issued pursuant to the Pre-Listing DRIP or the Post-Listing DRIP are recorded within stockholders’ equity in the accompanying consolidated balance sheets in the period dividends are declared. During the years ended December 31, 2020 and 2019, no shares of common stock were issued pursuant to the Post-Listing DRIP and during the year ended December 31, 2018, approximately 1.0 million shares of common stock were issued by the Company pursuant to the Pre-Listing DRIP, and no shares were issued by the Company pursuant to the Post-Listing DRIP. ATM Program — Class A Common Stock In May 2019, the Company established an “at the market” equity offering program for Class A common stock (the “Class A Common Stock ATM Program”), pursuant to which the Company may from time to time, offer, issue and sell to the public up to $200.0 million in shares of Class A common stock, through sales agents. The Company did not sell any shares under the Class A Common Stock ATM Program during the year ended December 31, 2020. The Company sold 2,229,647 shares under the Class A Common Stock ATM Program for gross proceeds of $32.4 million and net proceeds of $31.6 million, after commissions paid and additional issuance costs of approximately $0.8 million during the year ended December 31, 2019. Preferred Stock The Company is authorized to issue up to 50,000,000 shares of preferred stock, of which it has classified and designated 8,796,000 as authorized shares of its Series A Preferred Stock, 120,000 as authorized shares of its Series B Preferred Stock, $0.01 par value per share (“Series B Preferred Stock”) and 3,680,000 as authorized shares of its Series C Preferred Stock as of December 31, 2020. The Company had 7,842,008 and 6,917,230 shares of Series A Preferred Stock issued and outstanding as of December 31, 2020 and 2019, respectively. No Series B Preferred Stock is issued or outstanding as of December 31, 2020 or 2019. The Company had 3,535,700 shares of its Series C Preferred Stock issued and outstanding as of December 31, 2020 as a result of an underwritten offering in December 2020 (see below for details). Underwritten Offerings — Series A Preferred Stock On March 26, 2019, the Company completed the initial issuance and sale of 1,200,000 shares of Series A Preferred Stock in an underwritten public offering at a public offering price equal to the liquidation preference of $25.00 per share. The offering generated gross proceeds of $30.0 million and net proceeds of $28.6 million, after deducting underwriting discounts and offering costs paid by the Company. On April 10, 2019, the underwriters in the offering exercised their option to purchase additional shares of Series A Preferred Stock, and the Company sold an additional 146,000 shares of Series A Preferred Stock, which generated gross proceeds of $3.7 million and resulted in net proceeds of approximately $3.5 million, after deducting underwriting discounts. On September 9, 2019, the Company completed the issuance and sale of 3,450,000 shares of Series A Preferred Stock (including 450,000 shares issued and sold pursuant to the underwriter’s exercise of its option to purchase additional shares in full) in an underwritten public offering at a public offering price equal to $25.25 per share. The offering generated gross proceeds of $87.1 million and net proceeds of $83.5 million, after deducting underwriting discounts and offering costs paid by the Company. ATM Program — Series A Preferred Stock In May 2019, the Company established an “at the market” equity offering program for Series A Preferred Stock (the “Series A Preferred Stock ATM Program”) pursuant to which the Company may, from time to time, offer, issue and sell to the public, through sales agents, shares of the Series A Preferred Stock having an aggregate offering price of up to $50.0 million, which was subsequently increased to $100.0 million in October 2019 and was then increased again to $200.0 million in January 2021. During the year ended December 31, 2020, the Company sold 924,778 shares under the Series A Preferred Stock ATM Program for gross proceeds of $23.3 million and net proceeds of $22.4 million, after commissions paid of $0.9 million. During the year ended December 31, 2019, the Company sold 2,121,230 shares under the Series A Preferred Stock ATM Program for gross proceeds of $54.0 million and net proceeds of $53.2 million, after commissions paid of approximately $0.8 million. Series A Preferred Stock — Terms The Series A Preferred Stock is listed on Nasdaq under the symbol “AFINP.” Holders of Series A Preferred Stock are entitled to cumulative dividends at a rate of 7.50% of the $25.00 liquidation preference per share per annum. The Series A Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. On and after March 26, 2024, at any time and from time to time, the Series A Preferred Stock is redeemable in whole, or in part, at the Company’s option, at a cash redemption price of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. In addition, upon the occurrence of a Delisting Event or a Change of Control, each as defined in the articles supplementary classifying and designating the terms of the Series A Preferred Stock (the “Articles Supplementary”), the Company may, subject to certain conditions, at its option, redeem the Series A Preferred Stock, in whole but not in part, within 90 days after the first date on which the Delisting Event occurred or within 120 days after the first date on which the Change of Control occurred, as applicable, by paying the liquidation preference of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. If the Company does not exercise these redemption rights upon the occurrence of a Delisting Event or a Change of Control, the holders of Series A Preferred Stock will have certain rights to convert Series A Preferred Stock into shares of Class A common stock. The Series A Preferred Stock ranks senior to Class A common stock, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up. If dividends on any outstanding shares of Series A Preferred Stock have not been paid for six or more quarterly periods, holders of Series A Preferred Stock and holders of any other class or series of preferred stock ranking on parity with the Series A Preferred Stock, including the Series C Preferred Stock, will have the exclusive power, voting together in a single class, to elect two additional directors until all accrued and unpaid dividends on the Series A Preferred Stock have been fully paid. In addition, the Company may not authorize or issue any class or series of equity securities ranking senior to the Series A Preferred Stock with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding-up or amend the Company’s charter to materially and adversely change the terms of the Series A Preferred Stock without the affirmative vote of at least two-thirds of the votes entitled to be cast on the matter by holders of outstanding shares of Series A Preferred Stock and holders of any other similarly-affected classes and series of preferred stock ranking on parity with the Series A Preferred Stock, including the Series C Preferred Stock. Other than the limited circumstances described above and in the Articles Supplementary, holders of Series A Preferred Stock do not have any voting rights. Underwritten Offering — Series C Preferred Stock On December 18, 2020, the Company completed the initial issuance and sale of 3,535,700 shares of Series C Preferred Stock (including 335,700 shares from the underwriters' exercise of their overallotment option to purchase additional shares) in an underwritten public offering at a public offering price equal to the liquidation preference of $25.00 per share. The offering generated gross proceeds of $88.4 million and net proceeds of $85.2 million after deducting the underwriting discount of $2.8 million and offering costs of $0.4 million paid by the Company. ATM Program — Series C Preferred Stock In January, 2021, the Company established an “at the market” equity offering program for Series C Preferred Stock (the “Series C Preferred Stock ATM Program”). See Note 15 — Subsequent Events for additional information. Series C Preferred Stock — Terms The Series C Preferred Stock is listed on Nasdaq under the symbol “AFINO.” Holders of Series C Preferred Stock are entitled to cumulative dividends in the amount of 7.375% of the $25.00 liquidation preference per share per annum. The Series C Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. On and after December 18, 2025, at any time and from time to time, the Series C Preferred Stock will be redeemable in whole, or in part, at the Company’s option, at a cash redemption price of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. In addition, upon the occurrence of a Delisting Event or a Change of Control (each as defined in the Articles Supplementary), the Company may, subject to certain conditions, at its option, redeem the Series C Preferred Stock, in whole but not in part, within 90 days after the first date on which the Delisting Event occurred or within 120 days after the first date on which the Change of Control occurred, as applicable, by paying the liquidation preference of $25.00 per share, plus an amount equal to all dividends accrued and unpaid (whether or not declared), if any, to, but not including, the redemption date. If the Company does not exercise these redemption rights upon the occurrence of a Delisting Event or a Change of Control, the holders of Series C Preferred Stock will have certain rights to convert Series C Preferred Stock into shares of Class A Common Stock. The Series C Preferred Stock ranks senior to Class A Common Stock and the Company’s Series B Preferred Stock, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, and on parity with Series A Preferred Stock. If dividends on any outstanding shares of Series C Preferred Stock have not been paid for six or more quarterly periods, holders of Series C Preferred Stock and holders of any other class or series of preferred stock ranking on parity with the Series C Preferred Stock, including the Series A Preferred Stock, will have the exclusive power, voting together in a single class, to elect two additional directors until all accrued and unpaid dividends on the Series C Preferred Stock have been fully paid. In addition, the Company may not authorize or issue any class or series of equity securities ranking senior to the Series C Preferred Stock with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding-up or amend the Company’s charter to materially and adversely change the terms of the Series C Preferred Stock without the affirmative vote of at least two-thirds of the votes entitled to be cast on the matter by holders of outstanding shares of Series C Preferred Stock and holders of any other similarly-affected classes and series of preferred stock ranking on parity with the Series C Preferred Stock, including the Series A Preferred Stock. Other than the limited circumstances described above and in the Articles Supplementary, holders of Series C Preferred Stock do not have any voting rights. Dividends Dividends to Common Stockholders Year Ended December 31, 2020 In January, February and March of 2020, the Company paid dividends on its common stock to an annualized rate equal to $1.10 per share, or $0.0916667 per share on a monthly basis. In March 2020, the Company’s board of directors approved a reduction in the Company’s annualized common stock dividend to $0.85 per share, or $0.0708333 per share on a monthly basis, due to the uncertain and rapidly changing environment caused by the COVID-19 pandemic. The new common stock dividend rate became effective beginning with the Company’s April 1 dividend declaration. Historically, and through September 30, 2020, the Company declared dividends on its common stock based on monthly record dates and generally paid dividends, once declared, on or around the 15th day of each month (or, if not a business day, the next succeeding business day) to Class A common stock holders of record on the applicable record date. On August 27, 2020, the Company’s board of directors approved a change in the Company’s Class A common stock dividend policy. The Company anticipates paying future dividends authorized by its board of directors on shares of Class A common stock on a quarterly basis in arrears on the 15 th day of the first month following the end of each fiscal quarter (unless otherwise specified) to Class A common stockholders of record on the record date for such payment. This change affected the frequency of dividend payments only, and did not impact the annualized dividend rate on Class A common stock of $0.85. Year Ended December 31, 2019 During the year ended December 31, 2019, the Company paid dividends on its common stock to an annualized rate equal to $1.10 per share, or $0.0916667 per share on a monthly basis. Year Ended December 31, 2018 In April 2013, the Company’s board of directors authorized a monthly dividend equivalent to $1.65 per annum, per share of common stock. Effective July 1, 2017, the Company’s board of directors authorized a decrease in the daily accrual of dividends to an annualized rate of $1.30 per annum, per share of common stock. In connection with the Listing, the Company’s board of directors changed the rate at which the Company pays dividends on its common stock to an annualized rate equal to $1.10 per share, or $0.0916667 per share on a monthly basis, effective as of July 1, 2018. Additionally, effective July 1, 2018, the Company transitioned to declaring dividends based on quarterly basis with one month in arrears using monthly, rather than daily, record dates and generally pays dividends on or around the 15th day of each month (or, if not a business day, the next succeeding business day) to common stockholders of record on the applicable record date of such month. Prior to July 1, 2018, dividends were payable by the fifth day following each month end to stockholders of record at the close of business each day during the prior month. In January 2019, the Company declared a dividend for December 2018, January 2019 and February 2019 resulting in only 11 months declared dividends during the year ended December 31, 2018. Notwithstanding the changes to the declaration dates, the Company paid 12 months of dividends during the year ended December 31, 2018. Dividend payments are dependent on the availability of funds. The Company’s board of directors may reduce the amount of dividends paid or suspend dividend payments at any time and therefore dividends payments are not assured. Dividends to Series A Preferred Stockholders Dividends on the Company’s Series A Preferred Stock accrue at an amount equal to $1.875 per share each year, which is equivalent to the rate of 7.50% of the $25.00 liquidation preference per share per annum. Dividends on the Series A Preferred Stock are payable quarterly in arrears on the 15 th day of each of January, April, July and October of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. Dividends to Series C Preferred Stockholders Dividends on the Company’s Series C Preferred Stock accrue in an amount equal to $1.844 per share each year, which is equivalent to the rate of 7.375% of the $25.00 liquidation preference per share per annum. Dividends on the Series C Preferred Stock are payable quarterly in arrears on the 15 th day of each of January, April, July and October of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. The first dividend for the Series C Preferred Stock will be paid on April 15, 2021 and will represent an accrual for more than a full quarter, covering the period from December 18, 2020 to March 31, 2021. Tax Characteristics of Dividends The following table details from a tax perspective, the portion of common stock dividends classified as return of capital and ordinary dividend income for tax purposes, per share per annum, for the years ended December 31, 2020, 2019 and 2018. All dividends paid on the Series A Preferred Stock were considered 100% ordinary dividend income for tax purposes. As previously discussed, no dividends were paid on the Series C Preferred Stock during the year ended December 31, 2020. The first such dividend will be paid in 2021. Year Ended December 31, 2020 2019 2018 Return of capital 90.3 % $ 0.63 90.2 % $ 0.99 93.2 % $ 1.03 Ordinary dividend income 9.7 % 0.07 9.8 % 0.11 6.8 % 0.07 Total 100.0 % $ 0.70 100.0 % $ 1.10 100.0 % $ 1.10 Stockholder Rights Plan In April 2020 the Company announced that its board of directors approved a short-term stockholder rights plan (the “Plan”) to protect the long-term interests of the Company. The Company adopted the Plan due to the substantial volatility in the trading of the Company’s Class A common stock that has resulted from the ongoing COVID-19 pandemic. The adoption of the Plan is intended to allow the Company to realize the long-term value of the Company’s assets by protecting the Company from the actions of third parties that the Company’s board of directors determines are not in the best interest of the Company. By adopting the Plan, the Company believes that it has best positioned itself to navigate through this period of volatility brought on by COVID-19. The Company’s Plan is designed to reduce the likelihood that any person or group (including a group of persons that are acting in concert with each other) would gain control of the Company through open market accumulation of stock by imposing significant penalties upon any person or group that acquires 4.9% or more of the outstanding shares of Class A common stock without the approval of the Com |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Lessee Arrangements - Ground Leases The Company is a lessee in ground lease agreements for seven of its properties. The ground leases have lease durations, including assumed renewals, ranging from 17.0 years to 34.7 years as of December 31, 2020. On January 1, 2019, the Company adopted ASC 842 and recorded ROU assets and lease liabilities related to these ground leases, which are classified as operating leases under the lease standard (see Note 2 — Summary of Significant Accounting Polices for additional information on the impact of adopting the new standard). As of December 31, 2020, the Company’s balance sheet includes operating lease right-of-use assets and operating lease liabilities of $18.5 million and $19.2 million, respectively. In determining operating ROU assets and lease liabilities for the Company’s existing operating leases upon the adoption of the new lease guidance as well as for new operating leases in the current period, the Company estimated an appropriate incremental borrowing rate on a fully-collateralized basis for the terms of the leases. Because the terms of the Company’s ground leases are significantly longer than the terms of borrowings available to the Company on a fully-collateralized basis, the Company’s estimate of this rate required significant judgment. The Company’s operating ground leases have a weighted-average remaining lease term, including assumed renewals, of 27.9 years and a weighted-average discount rate of 7.5% as of December 31, 2020. For the years ended December 31, 2020 and 2019, the Company paid cash of $1.5 million and $1.5 million, respectively, for amounts included in the measurement of lease liabilities and recorded expense of $1.8 million and $2.7 million, respectively, on a straight-line basis in accordance with the standard. The expenses recorded in 2019 included an out-of-period adjustment of $0.9 million (see Note 2 — Summary of Significant Accounting Polices for additional information). The lease expense is recorded in property operating expenses in the consolidated statements of operations and comprehensive income (loss). The Company did not enter into any additional ground leases during the nine months ended December 31, 2020. The following table reflects the base cash rental payments due from the Company as of December 31, 2020: (In thousands) Future Base Rent Payments 2021 $ 1,515 2022 1,532 2023 1,549 2024 1,560 2025 1,598 Thereafter 44,358 Total lease payments 52,112 Less: Effects of discounting (32,875) Total present value of lease payments $ 19,237 Litigation and Regulatory Matters On February 8, 2018, Carolyn St. Clair-Hibbard, a purported stockholder of the Company, filed a putative class action complaint in the United States District Court for the Southern District of New York against the Company, AR Global, the Advisor, and both individuals who previously served as the Company’s chief executive officer and chair of the board of directors (the “Former Chairmen”). On February 23, 2018, the complaint was amended to, among other things, assert some claims on the plaintiff’s own behalf and other claims on behalf of herself and other similarly situated shareholders of the Company as a class. On April 26, 2018, defendants moved to dismiss the amended complaint. On May 25, 2018, plaintiff filed a second amended complaint. The second amended complaint alleges that the proxy materials used to solicit stockholder approval of the Merger at the Company’s 2017 annual meeting were materially incomplete and misleading. The complaint asserts violations of Section 14(a) of the Exchange Act against the Company, as well as control person liability against the Advisor, AR Global, and the Former Chairmen under 20(a). It also asserts state law claims for breach of fiduciary duty against the Advisor, and claims for aiding and abetting such breaches, of fiduciary duty against the Advisor, AR Global and the Former Chairmen. The complaint seeks unspecified damages, rescission of the Company’s advisory agreement (or severable portions thereof) which became effective when the Merger became effective, and a declaratory judgment that certain provisions of the Company’s advisory agreement are void. The Company believes the second amended complaint is without merit and intends to defend vigorously. On June 22, 2018, defendants moved to dismiss the second amended complaint. On August 1, 2018, plaintiff filed an opposition to defendants’ motions to dismiss. Defendants filed reply papers on August 22, 2018, and oral argument was held on September 26, 2018. On September 23, 2019, the Court granted defendants’ motions and dismissed the complaint with prejudice, and the plaintiff appealed. On May 5, 2020, the United States Court of Appeals for the Second Circuit affirmed the lower court’s dismissal of the complaint. On October 26, 2018, Terry Hibbard, a purported stockholder of the Company, filed a putative class action complaint in New York State Supreme Court, New York County, against the Company, AR Global, the Advisor, the Former Chairmen, the Company’s chief financial officer at the time of the Merger and each of the Company’s directors immediately prior to the Merger. All of the directors immediately prior to the Merger, except for David Gong, currently serve as directors of the Company. The complaint alleged that the registration statement pursuant to which RCA shareholders acquired shares of the Company during the Merger contained materially incomplete and misleading information. The complaint asserted violations of Section 11 of the Securities Act against the Company’s chief financial officer at the time of the Merger and each of the Company’s directors immediately prior to the Merger, violations of Section 12(a)(2) of the Securities Act against the Company and the Company’s current chief executive officer, president and chair of the board of directors, and control person liability against the Advisor, AR Global and the Former Chairmen— under Section 15 of the Securities Act. The complaint sought unspecified damages and rescission of the Company’s sale of stock pursuant to the registration statement. On March 6, 2019, Susan Bracken, Michael P. Miller and Jamie Beckett, purported stockholders of the Company, filed a putative class action complaint in New York State Supreme Court, New York County, on behalf of themselves and others who purchased shares of common stock through the Company’s then effective distribution reinvestment plan, against the Company, AR Global, the Advisor, the Former Chairmen, the Company’s chief financial officer at the time of the Merger and each of the Company’s directors immediately prior to the Merger. The complaint alleged that the April and December 2016 registration statements pursuant to which class members purchased shares contained materially incomplete and misleading information. The complaint asserted violations of Section 11 of the Securities Act against the Company, the Company’s chief financial officer at the time of the Merger and each of the Company’s directors immediately prior to the Merger, violations of Section 12(a)(2) of the Securities Act against the Company and the Company’s current chief executive officer, president and chair of the board of directors, and control person liability against the Advisor, AR Global and the Former Chairmen under Section 15 of the Securities Act. The complaint sought unspecified damages and either rescission of the Company’s sale of stock or rescissory damages. On April 30, 2019, Lynda Callaway, a purported stockholder of the Company, filed a putative class action complaint in New York State Supreme Court, New York County, against the Company, AR Global, the Advisor, the Former Chairmen, the Company’s chief financial officer at the time of the Merger and each of the Company’s directors immediately prior to the Merger. The complaint alleged that the registration statement pursuant to which plaintiff and other class members acquired shares of the Company during the Merger contained materially incomplete and misleading information. The complaint asserted violations of Section 11 of the Securities Act against the Company, the Company’s chief financial officer at the time of the Merger and each of the Company’s directors immediately prior to the Merger, violations of Section 12(a)(2) of the Securities Act against the Company and the Company’s current chief executive officer, president and chair of the board of directors, and control person liability under Section 15 of the Securities Act against the Advisor, AR Global, and the Former Chairmen. The complaint sought unspecified damages and rescission of the Company’s sale of stock pursuant to the registration statement. On July 11, 2019, the New York State Supreme Court issued an order consolidating the three above-mentioned cases: Terry Hibbard, Bracken, and Callaway (the “Consolidated Cases”). The Court also stayed the Consolidated Cases pending a decision on the motions to dismiss in the St. Clair-Hibbard litigation pending in the United States District Court for the Southern District of New York. Following the federal court’s decision on St. Clair-Hibbard the motions to dismiss, on October 31, 2019 plaintiffs filed an amended consolidated class action complaint in the Consolidated Cases seeking substantially similar remedies from the same defendants. The Company moved to dismiss the amended consolidated complaint on December 16, 2019. After the parties completed briefing on this motion, the United States Court of Appeals for the Second Circuit issued its decision affirming dismissal of the St. Clair-Hibbard action. Plaintiffs moved to amend their complaint, purportedly to limit it to claims still viable in spite of the results of the federal action. The proposed second amended complaint no longer contains direct claims against the Company. Instead, plaintiffs seek to pursue state law claims derivatively against the Advisor, AR Global, the Company’s initial chief executive officer and chair of the board of directors, the Company’s current directors and David Gong, a former director, with the Company as a nominal defendant. Plaintiffs’ motion to amend has been fully briefed, and oral argument was held in November 2020. The parties are now awaiting a decision from the Court. The Company believes that the proposed second amended complaint is without merit and intends to defend against it vigorously. Due to the early stage of the litigation, no estimate of a probable loss or any reasonably possible losses are determinable at this time. There are no other material legal or regulatory proceedings pending or known to be contemplated against the Company. During the years ended December 31, 2020, 2019 and 2018, the Company incurred legal costs related to the above litigation of approximately $0.8 million, $1.3 million and $1.9 million, respectively. A portion of these litigation costs are subject to a claim for reimbursement under the insurance policies maintained by the Company (“the Policies”), and during the years ended December 31, 2020 and 2019, reimbursements of $9,000 and $2.3 million, respectively, were received and recorded in other income in the consolidated statements of operations and comprehensive loss. The Company may receive additional reimbursements in the future. However, the Policies are subject to other claims that have priority over the Company’s claim for reimbursement, and the Company therefore does not believe it is likely to recover any additional reimbursements. 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 maintains environmental insurance for its properties that provides coverage for potential environmental liabilities, subject to the policy’s coverage conditions and limitations. 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 | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Arrangements | Related Party Transactions and Arrangements Fees and Participations Incurred in Connection with the Operations of the Company Summary of Advisory Agreement The initial term of the Advisory Agreement expires on April 29, 2035. This term is automatically renewed for successive 20-year terms upon expiration unless the Advisory Agreement is terminated (1) in accordance with an Internalization, (2) by the Company or the Advisor with cause, without penalty, with 60 days’ notice, (3) by the Advisor for (a) a failure to obtain a satisfactory agreement for any successor to the Company to assume and agree to perform obligations under the Advisory Agreement or (b) any material breach of the Advisory Agreement of any nature whatsoever by the Company, or (4) by the Advisor in connection with a change of control of the Company. Upon the termination of the Advisory Agreement, the Advisor will be entitled to receive from the Company all amounts due to the Advisor, as well as the then-present fair market value of the Advisor’s interest in the Company. The Advisory Agreement grants the Company the right to internalize the services provided under the Advisory Agreement (“Internalization”) and to terminate the Advisory Agreement pursuant to a notice received by the Advisor as long as (i) more than 67% of the Company’s independent directors have approved the Internalization; and (ii) the Company pays the Advisor an Internalization fee equal to (1) $15.0 million plus (2) either (x) if the Internalization occurs on or before December 31, 2028, the Subject Fees (defined below) multiplied by 4.5, or (y) if the Internalization occurs on or after January 1, 2029, the Subject Fees multiplied by 3.5 plus (3) 1.0% multiplied by (x) the purchase price of properties or other investments acquired after the end of the fiscal quarter in which the notice of Internalization is received by the Advisor and prior to the Internalization and (y) without duplication, the cumulative net proceeds of any equity raised by the Company during the period following the end of the fiscal quarter in which notice is received and the Internalization. The “Subject Fees” are equal to (i) the product of four multiplied by the sum of (A) the actual base management fee (including both the fixed and variable portion thereof) plus (B) the actual variable management fee, in each of clauses (A) and (B), payable for the fiscal quarter in which the notice of Internalization is received by the Advisor, plus, (ii) without duplication, the annual increase in the base management fee resulting from the cumulative net proceeds of any equity raised in respect of the fiscal quarter in which the notice of Internalization is received by the Advisor. Up to 10% of the Internalization fee may be payable in shares of Class A common stock subject to certain conditions. 2019 Advisory Agreement Amendment On March 18, 2019, the Company entered into Amendment No.2 to the Advisory Agreement, by and among the OP and the Advisor. Amendment No.2 revised the section of the Advisory Agreement specifically related to reimbursable administrative service expenses, including reasonable salaries and wages, benefits and overhead of all employees of the Advisor or its affiliates, including those of certain executive officers of the Company. See the “ Professional Fees and Other Reimbursements” section below for details. 2020 Advisory Agreement Amendments On March 30, 2020, the Company entered into Amendment No.3 to the Advisory Agreement, by and among the OP and the Advisor. Amendment No.3 revised the section of the Advisory Agreement to temporarily lower the quarterly thresholds of Core Earnings Per Adjusted Share (as defined in the Advisory Agreement) the Company must reach on a quarterly basis for the Advisor to receive the Variable Management Fee (as defined in the Advisory Agreement). On January 13, 2021, the Company entered into Amendment No. 4 to the Advisory Agreement to extend the expiration of these thresholds to the end of the fiscal quarter ending December 31, 2021. For additional information, see the “Asset Management Fees and Variable Management/Incentive Fees” section below and Note 15 — Subsequent Events . In-Sourced Expenses The Advisor has been and may continue to be reimbursed for costs it incurs in providing investment-related services, or “insourced expenses.” These insourced expenses may not exceed 0.5% of the contract purchase price of each acquired property or 0.5% of the amount advanced for a loan or other investment. Additionally, the Company has paid and may continue to pay third party acquisition expenses. The aggregate amount of acquisition expenses, including insourced expenses, may not exceed 4.5% of the contract purchase price of the Company’s portfolio or 4.5% of the amount advanced for all loans or other investments and this threshold has not been exceeded through December 31, 2020. The Company incurred $0.2 million, $0.2 million and $0.3 million of acquisition expenses and related cost reimbursements for the years ended December 31, 2020, 2019 and 2018, respectively. Asset Management Fees and Variable Management/Incentive Fees The Company pays the Advisor a fixed base management fee and a variable base management fee. Under the Advisory Agreement, the fixed portion of the base management fee increased from $18.0 million annually to (i) $21.0 million annually for the period from February 16, 2017 until February 16, 2018; (ii) $22.5 million annually for the period from February 17, 2018 until February 16, 2019; and (iii) $24.0 million annually for the remainder of the term. If the Company acquires (whether by merger, consolidation or otherwise) any other REIT, that is advised by an entity that is wholly owned, directly or indirectly, by AR Global, other than any joint venture, (a “Specified Transaction”), the fixed portion of the base management fee will be increased by an amount equal to the consideration paid for the acquired company’s equity multiplied by 0.0031 for the first year following the Specified Transaction, 0.0047 for the second year and 0.0062 thereafter. The variable portion of the base management fee is a monthly fee equal to one-twelfth of 1.25% of the cumulative net proceeds of any equity raised by the Company and its subsidiaries from and after the initial effective date of the Advisory Agreement on February 16, 2017. Base management fees, including the variable portion, are included in asset management fees to related party on the consolidated statements of operations and comprehensive loss. The Company incurred $27.8 million, $25.7 million and $23.1 million for the years ended December 31, 2020, 2019 and 2018, respectively, in base management fees (including both the fixed and variable portion). In addition, under the Advisory Agreement, the Company is required to pay the Advisor a variable management fee. Prior to the Listing Date, the amount that was required to be paid was equal to the product of (1) the fully diluted shares of common stock outstanding multiplied by (2) (x) 15.0% of the applicable quarter’s Core Earnings per share in excess of $0.375 per share plus (y) 10.0% of the applicable quarter’s Core Earnings per share in excess of $0.50 per share, in each case as adjusted for changes in the number of shares of common stock outstanding. On the Listing Date, the Company entered into an amendment to the Advisory Agreement (the “Listing Amendment”) which lowered the quarterly thresholds of Core Earnings per share the Company must reach in a particular quarter for the Advisor to receive a variable management fee from $0.375 and $0.50 to $0.275 and $0.3125. The definition of Adjusted Outstanding Shares (as defined in the Advisory Agreement), which is used to calculate Core Earnings per share, is based on the Company’s reported diluted weighted-average shares outstanding. In accordance with Amendment No. 3 to the Advisory Agreement entered into March 30, 2020, for the quarters ending June 30, 2020, September 30, 2020 and December 31, 2020, the low and high thresholds were reduced from $0.275 and $0.3125, respectively, to $0.23 and $0.27, respectively. On January 13, 2021, the Company entered into Amendment No. 4 to the Advisory Agreement to extend the expiration of these thresholds from the end of the fiscal quarter ended December 31, 2020 to the end of the fiscal quarter ending December 31, 2021 in light of the continued economic impact of the COVID-19 pandemic. Core Earnings is defined as, for the applicable period, net income or loss computed in accordance with GAAP excluding non-cash equity compensation expense, the variable management fee, acquisition and transaction related fees and expenses, financing related fees and expenses, depreciation and amortization, realized gains and losses on the sale of assets, any unrealized gains or losses or other non-cash items recorded in net income or loss for the applicable period, regardless of whether such items are included in other comprehensive loss, or in net income, one-time events pursuant to changes in GAAP and certain non-cash charges, impairment losses on real estate related investments and other than temporary impairments of securities, amortization of deferred financing costs, amortization of tenant inducements, amortization of straight-line rent, amortization of market lease intangibles, provision for loss loans, and other non-recurring revenue and expenses (in each case after discussions between the Advisor and the independent directors and the approval of a majority of the independent directors). The variable management fee is payable to the Advisor or its assignees in cash or shares, or a combination of both, the form of payment to be determined in the sole discretion of the Advisor and the value of any share to be determined by the Advisor acting in good faith on the basis of such quotations and other information as it considers, in its reasonable judgment, appropriate. The Company recorded $0.1 million in variable management fees during the year ended December 31, 2020 and recorded $0.1 million in variable management fees during the year ended December 31, 2019. The Company did not incur any variable management fees during the year ended December 31, 2018. Prior to the Listing, in aggregate, the Company’s board of directors had approved and the OP had issued 1,052,420 Class B Units to the Advisor. Pursuant to the terms of the amended and restated agreement of limited partnership of the OP (the “A&R OP Agreement”), the Advisor was entitled to receive distributions on unvested Class B Units equal to the dividend amount received on the same number of shares of the Company’s common stock. Such distributions on issued Class B Units were included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. As a result of the Listing and the prior determination by the Company’s board of directors that the applicable conditions under the A&R OP Agreement had been satisfied, the Class B Units vested in accordance with their terms. The Class B Units were converted into an equal number of Class A Units. In addition, effective at the Listing following this conversion and as approved by the Company’s board of directors, these Class A Units were redeemed for an equal number of newly issued shares of Class A common stock consistent with the redemption provisions contained in the Second A&R OP Agreement. As a result, the Company recorded a non-cash expense of approximately $15.8 million, which is recorded in vesting and conversion of Class B Units in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2018. Property Management Fees The Company has a property management agreement (the “Multi-Tenant Property Management Agreement”), a leasing agreement (the “Multi-Tenant Leasing Agreement”) and a net lease property management and leasing agreement (the “Net Lease Property Management Agreement”) with the Property Manager. The Multi-Tenant Property Management Agreement, the Multi-Tenant Leasing Agreement and the Net Lease Property Management Agreement each became effective on February 16, 2017. In connection with the issuance of the Net Lease Mortgage Notes, subsidiaries of the Company have entered into the Property Management and Servicing Agreement, dated May 30, 2019 (the “ABS Property Management Agreement”), with the Property Manager, KeyBank, as back-up property manager, and Citibank, N.A. as indenture trustee. The Multi-Tenant Property Management Agreement provides that, unless a property is subject to a separate property management agreement with the Property Manager, the Property Manager is the sole and exclusive property manager for the Company’s multi-tenant properties, which are generally retail properties, such as power centers and lifestyle centers. In December 2017, in connection with a $210.0 million mortgage loan secured by 12 of the Company’s retail properties, the Company entered into 12 identical property management agreements with the Property Manager, the substantive terms of which are substantially identical to the terms of the Multi-Tenant Property Management Agreement, except they do not provide for the transition fees described below. The Multi-Tenant Property Management Agreement entitles the Property Manager to a management fee equal to 4% of the gross rental receipts from the multi-tenant properties, including common area maintenance reimbursements, tax and insurance reimbursements, percentage rental payments, utility reimbursements, late fees, vending machine collections, service charges, rental interruption insurance, and a 15% administrative charge for common area expenses. In addition, the Property Manager is entitled to a one time transition fee of up to $2,500 for each multi-tenant property managed, a construction fee equal to 6% of construction costs incurred, if any, and reimbursement of all expenses specifically related to the operation of a multi-tenant property, including compensation and benefits of property management, accounting, lease administration, executive and supervisory personnel of the Property Manager, and excluding expenses of the Property Manager’s corporate and general management office and excluding compensation and other expenses applicable to time spent on matters other than the multi-tenant properties. Pursuant to the Multi-Tenant Leasing Agreement, the Company may, under certain circumstances and subject to certain conditions, pay the Property Manager a leasing fee for services in leasing multi-tenant properties to third parties. The Company’s double- and triple-net leased single- tenant properties are managed by the Property Manager pursuant to the Net Lease Property Management Agreement, unless they are subject to a separate agreement with the Property Manager. The Net Lease Property Management Agreement permits the Property Manager to subcontract its duties to third parties and provides that the Company is responsible for all costs and expenses of managing the properties, except for general overhead and administrative expenses of the Property Manager. In December 2019, in connection with a loan secured by four properties leased to Stop & Shop, the Company entered into a property management and leasing agreement with the Property Manager with respect to the four properties, the substantive terms of which are substantially identical to the terms of the Net Lease Property Management Agreement, except that it limits the fees payable to the Property Manager and any subcontractor to 3.0% of operating income in the event that the Property Manager subcontracts its duties under the agreement. In July 2020, in connection with the loan agreement with Column Financial, Inc., all but one of the Company’s borrower subsidiaries entered into a new property management and leasing agreement with the Property Manager with respect to all but one of the mortgaged properties, all of which are double- and triple-net leased single-tenant properties. The Company’s other double- and triple-net leased single-tenant properties, including the one mortgaged property excluded from the new property management and leasing agreement, are managed by the Property Manager pursuant to the Net Lease Property Management Agreement. The new property management and leasing agreement is identical to the Net Lease Property Management Agreement, except that the new property management and leasing agreement does not permit the Property Manager to subcontract its duties to third parties. The current term of the Net Lease Property Management Agreement ends on October 1, 2021, and is automatically renewed for successive one-year terms unless terminated 60 days prior to the end of a term or terminated for cause. On November 4, 2020, in light of the investment to be made by the Property Manager and its affiliates in property management infrastructure for the benefit of the Company and its subsidiaries, the Company amended each of the Multi-Tenant Property Management Agreement and the Multi-Tenant Leasing Agreement to reflect that each agreement will expire on the later of (i) November 4, 2025 and (ii) the termination date of the Advisory Agreement. These agreements with the Property Manager may only be terminated for cause prior to the end of the term. Prior to the amendments, the term of these agreements would have ended on October 1, 2021, with automatic renewals for successive one-year terms unless terminated 60 days prior to the end of a term or terminated for cause. Property Management and Services Agreement - Net Lease Mortgage Notes Under the ABS Property Management Agreement, the Property Manager is responsible for servicing and administering the properties and leases securing the Net Lease Mortgage Notes under ordinary and special circumstances, and KeyBank, as the back-up property manager, is responsible for, among other things, maintaining current servicing records and systems for the assets securing the Net Lease Mortgage Notes in order to enable it to assume the responsibilities of the Property Manager in the event the Property Manager is no longer the property manager and special servicer. Pursuant to the ABS Property Management Agreement, the Property Manager may also be required to advance principal and interest payments on the Net Lease Mortgage Notes to preserve and protect the value of the applicable assets. The Company’s subsidiaries are required to reimburse any of these payments or advances. Pursuant to the ABS Property Management Agreement, subsidiaries of the Company are required to pay the Property Manager a monthly fee equal to the product of (i) one-twelfth of 0.25%, and (ii) the aggregate allocated loan amounts of all the properties that serve as part of the collateral for the Net Lease Mortgage Notes, except for specially serviced properties. With respect to the specially serviced properties, the Property Manager is entitled to receive a workout fee or liquidation fee under certain circumstances based on 0.50% of applicable amounts recovered, as well as a monthly fee equal to the product of (i) one-twelfth of 0.75%, and (ii) the aggregate allocated loan amounts of all the specially serviced properties that serve as part of the collateral pool for the Net Lease Mortgage Notes. The Property Manager has retained KeyBank as a sub-manager pursuant to a separate sub-management agreement pursuant to which KeyBank provides certain services the Property Manager is required to provide as property manager under the ABS Property Management Agreement. Under the ABS Property Management Agreement, the Property Manager has agreed to waive (i) the portion of the monthly fee related to the properties that are not specially serviced that is in excess of the amount to be paid to KeyBank as sub-manager pursuant to the sub-management agreement, (ii) the workout fee, (iii) the liquidation fee and (iv) the monthly fee related to the properties that are specially serviced, although the Property Manager retains the right to revoke these waivers at any time. The Property Manager is also entitled to receive additional servicing compensation related to certain fees and penalties under the leases it is responsible for under the ABS Property Management Agreement. The services provided by the Property Manager with respect to the double- and triple-net leased single-tenant properties in the collateral pool and related property management fees are separate and independent from the property management services the Property Manager has provided and will continue to provide with respect to those properties pursuant to the Net Lease Property Management Agreement. Professional Fees and Other Reimbursements The Company reimburses the Advisor’s costs of providing administrative services, including among other things, reasonable allocation of salaries and wages, benefits and overhead of all employees of the Advisor or its affiliates, except for costs to the extent that the employees perform services for which the Advisor receives a separate fee. The reimbursement includes reasonable overhead expenses, including the reimbursement of an allocated portion of rent expense at certain properties that are both occupied by employees of the Advisor or its affiliates and owned by affiliates of the Advisor. These reimbursements are exclusive of fees and other expense reimbursements incurred from and due to the Advisor that were passed through and ultimately paid to Lincoln Retail REIT Services, LLC (“Lincoln”) as a result of the Advisor’s prior arrangements with Lincoln to provide services to the Advisor in connection with the Company’s multi-tenant retail properties that are not net leased. The Advisor’s agreement with Lincoln expired in February 2021 and was not renewed. The expiration of the agreement with Lincoln did not affect the responsibilities and obligations of the Advisor or the Property Manager to the Company under the Company’s agreements with them. These reimbursements are included in Professional fees and other reimbursements in the table below and in general and administrative expense in the consolidated statements of operations and comprehensive loss. During the years ended December 31, 2020, 2019 and 2018, the Company incurred $7.5 million (net of the $1.4 million change in estimate for the 2019 bonus awards, discussed below), $9.8 million and $8.6 million, respectively, of reimbursement expenses from the Advisor for providing administrative services. Prior to Amendment No. 2, the Company had not reimbursed the Advisor or its affiliates, including the Property Manager, for salaries, wages, or benefits paid to the Company’s executive officers. Starting in 2019, under Amendment No. 2, the Company began to reimburse the Advisor for a portion of the salary, wages, and benefits paid to the Company’s chief financial officer as part of the aggregate reimbursement for salaries, wages and benefits of employees of the Advisor or its affiliates, excluding any executive officer who is also a partner, member or equity owner of AR Global and subject to a limit on certain limitations. Beginning in 2019, under Amendment No. 2, the aggregate amount that may be reimbursed in each fiscal year for salaries, wages and benefits (excluding overhead) of employees of the Advisor or its affiliates (the “Capped Reimbursement Amount”) for each fiscal year is subject to a limit that is equal to the greater of: (a) (the “Fixed Component”); and a (b) variable component (the “Variable Component”). Both the Fixed Component and the Variable Component increase by an annual cost of living adjustment equal to the greater of (x) 3.0% and (y) the CPI, as defined in the amendment for the prior year ended December 31. Initially, for the year ended December 31, 2019: (a) the Fixed Component was equal to $7.0 million; and (b) the Variable Component was equal to: (i) the sum of the total real estate investments, at cost as recorded on the balance sheet dated as of the last day of each fiscal quarter (the “Real Estate Cost”) in the year divided by four, which amount is then (ii) multiplied by 0.20%. If the Company sells real estate investments aggregating an amount equal to or more than 25% of Real Estate Cost in one or a series of related dispositions in which the proceeds of the disposition(s) are not reinvested in Investments (as defined in the Advisory Agreement), then within 12 months following the disposition(s), the advisory agreement requires the Advisor and the Company to negotiate in good faith to reset the Fixed Component; provided that if the proceeds of the disposition(s) are paid to shareholders of the Company as a special distribution or used to repay loans with no intent of subsequently re-financing and re-investing the proceeds thereof in Investments, the advisory agreement requires these negotiations within 90 days thereof, in each case taking into account reasonable projections of reimbursable costs in light of the Company’s reduced assets. For both the years ended December 31, 2020 and 2019, the total amount of reimbursements by the Company to the Advisor for salaries, wages and benefits that were subject to the Capped Reimbursement Amount was approximately $7.2 million, which was less than the approximately $8.1 million Variable Component of the Capped Reimbursement Amount. As part of this reimbursement, the Company paid approximately $2.7 million in 2019 to the Advisor or its affiliates as reimbursement for bonuses of employees of the Advisor or its affiliates who provided administrative services during such calendar year, prorated for the time spent working on matters relating to the Company. The Company does not reimburse the Advisor or its affiliates for any bonus amounts relating to time dedicated to the Company by Edward M. Weil, Jr., the Company’s Chief Executive Officer. The Advisor formally awarded 2019 bonuses to employees of the Advisor or its affiliates in September 2020 (the “2019 Bonus Awards”), which were comprised of cash and restricted shares (for additional information on the restricted shares issued to these employees, see Note 12 — Equity-Based Compensation) . The original $2.7 million estimate for bonuses recorded and paid to the Advisor in 2019 exceeded the cash portion of the 2019 Bonus Awards to be paid to employees of the Advisor or its affiliates by $1.4 million and to be reimbursed by the Company. As a result, during the three months ended September 30, 2020, the Company recorded a receivable from the Advisor of $1.4 million in prepaid expenses and other assets on the consolidated balance sheet and a corresponding reduction in general and administrative expenses. Pursuant to authorization by the independent members of the Company’s board of directors, the $1.4 million receivable is payable to the Company over a 10-month period from January 2021 through October 2021. Reimbursements for the cash portion of 2020 bonuses to employees of the Advisor or its affiliates continue to be expensed and reimbursed on a monthly basis during 2020 in accordance with the cash bonus estimates provided by the Advisor. Generally, prior to the 2019 Bonus Awards, employee bonuses have been formally awarded to employees of the Advisor or its affiliates in March as an all-cash award and paid out by the Advisor in the year subsequent to the year in which services were rendered to the Company. Summary of fees, expenses and related payables The following table details amounts incurred and payable to related parties in connection with the operations-related services described above as of and for the periods presented. Amounts below are inclusive of fees and other expense reimbursements incurred from and due to the Advisor that are passed through and ultimately paid to Lincoln as a result of the Advisor’s arrangements with Lincoln: Year Ended December 31, Payable (Receivable) as of December 31, (In thousands) 2020 2019 2018 2020 2019 One-time fees and reimbursements: Acquisition related cost reimbursements [1] $ 201 $ 241 $ 318 $ 96 $ 53 Vesting and conversion of Class B Units — — 15,786 — — Ongoing fees: Asset management fees to related party 27,829 25,695 23,143 177 9 Property management and leasing fees [2] 6,604 9,921 9,620 — 1,153 Professional fees and other reimbursements [3] 10,539 9,732 9,314 (77) (565) [4] Distributions on Class B Units [3] [5] — — 736 — — Professional fee credit due from Advisor and its affiliates [6] (1,862) — — (1,862) [6] — Total related party operation fees and reimbursements $ 43,311 $ 45,589 $ 58,917 $ (1,666) $ 650 __________ [1] Amounts included in acquisition and transaction related expenses in the consolidated statements of operations and comprehensive loss. [2] Amounts included in property operating expenses in the consolidated statements of operations and comprehensive loss. [3] Amounts included in general and administrative expense in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company recorded a reduction of general and administrative expenses in the amount of $0.8 million related to the reversal of a payable balance at December 31, 2018 due to American National Stock Transfer, LLC, a subsidiary of RCS Capital Corporation (“RCAP”), which at the time the payable balance was recorded and prior to its bankruptcy filing was under common control with the Advisor. RCAP was also the parent company of Realty Capital Securities, LLC, the dealer manager in the Company’s initial public offering. [4] Balance included a receivable of $0.7 million from the Advisor as of December 31, 2019 previously recorded in the fourth quarter of 2018, which, pursuant to authorization by the independent members of the Company’s board of directors, was payable over time during 2020 and had been fully repaid as of December 31, 2020. [5] Subsequent to the Listing the Class B Units were fully vested and converted to Class A Units, which were then redeemed for shares of Class A common stock. Distributions with respect to shares of Class A common stock are treated as equity distributions whereas distributions with respect to Class B Units were treated as additional compensation and expensed. [6] Included in general and administrative expenses. $1.4 million relates to overpayment of the 2019 Bonus Awards and $0.5 million relates to a receivable recorded for the overpayment of invoices in current and prior years for a shared service. Listing Arrangements Fees Incurred in Connection with a Listing Pursuant to the A&R OP Agreement, in connection with the Listing, the OP was obligated to distribute to the Special Limited Partner a promissory note in an aggregate amount (the “Listing Amount”) equal to 15.0% of the difference (to the extent the result is a positive number) between: • the sum of (i) the “Market Value” (as defined in the A&R OP Agreement) of the Company’s common stock plus (ii) the sum of all distributions or dividends (from any source) paid by the Company to its stockholders prior to the Listing; and • the sum of (i) the gross proceeds (“Gross Proceeds”) of all public and private offerings, including issuance of the Company’s common stock pursuant to a merger (including the Merger) or business combination (an “Offering”) as of the Listing Date plus (ii) the total amount of cash that, if distributed to those stockholders who purchased shares of the Company’s common stock in an Offering prior to the Listing, would have provided those stockholders a 6.0% cumulative, non-compounded, pre-tax annual return (based on a 365-day year) on the Gross Proceeds. Effective at the Listing, the OP entered into a listing note agreement with respect to this obligation (the “Listing Note”) with the Special Limited Partner and entered into a related subordination agreement (the “Subordination Agreement”) with the administrative agent under the Credit Facility, BMO Bank. The Listing Note evidenced the OP’s obligation to distribute to the Special Limited Partner the Listing Amount. The measurement period used to calculate the average Market Value of the Company’s common stock was from July 8, 2019 to August 16, 2019, the 30 consecutive trading days commencing on the 180th day following the date on which shares of Class B-2 common stock converted into shares of Class A common stock. Based on the actual Market Value during the measurement period, the Listing Amount was zero, and the Company has no distribution obligation to the Special Limited Partner related to the Listing Note. The final fair value of the Listing Note is zero, the same fair value the Listing Note had at issuance. The fair value at issua |
Economic Dependency
Economic Dependency | 12 Months Ended |
Dec. 31, 2020 | |
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, as well as other administrative responsibilities for the Company including accounting and legal services, human resources and information technology. 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. |
Equity-Based Compensation
Equity-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Equity-Based Compensation | Equity-Based Compensation Equity Plans 2018 Equity Plan Effective at the Listing, the Company’s board of directors adopted an equity plan for the Advisor (the “Advisor Plan”) and an equity plan for individuals (the “Individual Plan” and together with the Advisor Plan, the “2018 Equity Plan”). The Advisor Plan is substantially similar to the Individual Plan, except with respect to the eligible participants. Under the Individual Plan, the Company may only make awards to its 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 entities that provide services to the Company. By contrast, under the Advisor Plan the Company may only make awards to the Advisor. The 2018 Equity Plan succeeded and replaced the existing employee and director restricted share plan (the “RSP”). Following the effectiveness of the 2018 Equity Plan at the Listing, no further awards issued under the RSP; provided, however, that any outstanding awards under the RSP, such as unvested restricted shares held by the Company’s independent directors, remained outstanding in accordance with their terms and the terms of the RSP until all those awards are vested, forfeited, canceled, expired or otherwise terminated in accordance with their terms. The Company accounts for forfeitures when they occur. The 2018 Equity Plan permits awards of restricted shares, restricted stock units (“RSUs”), options, stock appreciation rights, stock awards, LTIP Units and other equity awards. The 2018 Equity Plan has a term of 10 years, expiring on July 19 2028. Identical to the RSP, the number of shares of the Company’s capital stock available for awards under the 2018 Equity Plan, in the aggregate, is equal to 10.0% of the Company’s outstanding shares of common stock on a fully diluted basis at any time. Shares subject to awards under the Individual Plan reduce the number of shares available for awards under the Advisor Plan on a one-for-one basis and vice versa. If any awards granted under the 2018 Equity Plan are forfeited for any reason, the number of forfeited shares is again available for purposes of granting awards under the 2018 Equity Plan. Restricted Shares Restricted shares are shares of common stock awarded under terms that provide for vesting over a specified period of time. Holders of restricted shares may receive non-forfeitable cash dividends prior to the time that the restrictions on the restricted shares have lapsed. Any dividends to holders of restricted shares payable in shares of common stock are subject to the same restrictions as the underlying restricted shares. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Prior to June 30, 2020, the Company only granted restricted shares to the Company’s directors. During the year ended December 31, 2020, the Company granted 52,468 restricted shares to the Company’s directors. In addition, d uring the third quarter of 2020, the Company granted 309,475 restricted shares to employees of the Advisor or its affiliates who are involved in providing services to the Company, including the Company’s chief financial officer. The restricted shares were formally issued in October 2020 at the time the related award agreements were executed. The award to the Company’s chief financial officer was recommended by the Advisor and approved by the compensation committee of the Company’s board of directors. The awards to other employees were made pursuant to authority delegated by the compensation committee to Edward M. Weil, Jr., the Company’s chief executive officer, president and chairman. Following the grant of these awards, there remained an additional 40,525 restricted shares that may be awarded in the future pursuant to the delegation of authority to Mr. Weil. No awards may be made to anyone who is also a partner, member or equity owner of the parent of the Advisor. The restricted shares granted to the Company’s directors vest on a straight-line basis over periods of 1 year to 5 years from the date of grant and provide for accelerated vesting of the portion of the unvested restricted shares scheduled to vest in the year of the recipient’s termination of his or her position as a director of the Company due to a voluntary resignation or failure to be re-elected to the Company’s board of directors following nomination therefor. All unvested restricted shares held by the Company’s directors also vest in the event of a Change of Control (as defined in the RSP or the Individual Plan) or a termination of a directorship without cause or as a result of death or disability. The restricted shares granted to employees of the Advisor or its affiliates vest in 25% increments on each of the first four anniversaries of the grant date. Except in connection with a change in control (as defined in the award agreement) of the Company, any unvested restricted shares will be forfeited if the holder’s employment with the Advisor terminates for any reason. Upon a change in control of the Company, 50% of the unvested restricted shares will immediately vest and the remaining unvested restricted shares will be forfeited. The following table reflects the number of restricted shares granted, vested, or forfeited for the years ended December 31, 2020, 2019 and 2018: Number of Shares of Common Stock Weighted-Average Issue Price Unvested, December 31, 2017 15,708 $ 23.67 Granted 127,402 16.01 Vested (6,869) 23.58 Forfeited (7) — Unvested, December 31, 2018 136,234 16.51 Granted 34,588 9.83 Vested (59,401) 16.36 Forfeited — — Unvested, December 31, 2019 111,421 14.52 Granted 361,943 6.80 Vested (72,492) 14.13 Forfeited — — Unvested, December 31, 2020 400,872 7.62 As of December 31, 2020, the Company had $2.4 million of unrecognized compensation cost related to unvested restricted share awards granted. That cost is expected to be recognized over a weighted-average period of 3.1 years. The fair value of the restricted shares is being expensed in accordance with the service period required. Compensation expense related to restricted shares was approximately $1.2 million, $1.1 million and $0.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Compensation expense related to restricted shares is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive loss. Restricted Stock Units RSUs represent a contingent right to receive shares of common stock at a future settlement date, subject to satisfaction of applicable vesting conditions and other restrictions, as set forth in the RSP and an award agreement evidencing the grant of RSUs. RSUs may not, in general, be sold or otherwise transferred until restrictions are removed and the rights to the shares of common stock have vested. Holders of RSUs do not have or receive any voting rights with respect to the RSUs or any shares underlying any award of RSUs, but such holders are generally credited with dividend or other distribution equivalents which are subject to the same vesting conditions and other restrictions as the underlying RSUs and only paid at the time such RSUs are settled in shares of common stock. The Company has not granted any RSUs, and no unvested RSUs were outstanding during the years ended December 31, 2020, 2019 and 2018. Multi-Year Outperformance Agreement On the Listing Date, the Company granted a performance-based equity award to the Advisor in the form of a Master LTIP Unit pursuant to the 2018 OPP. The Master LTIP Unit was automatically converted on August 30, 2018 (the “Effective Date”), the 30th trading day following the Listing Date, into 4,496,796 LTIP Units equal to the quotient of $72.0 million divided by $16.0114, the ten-day trailing average closing price of the Company’s Class A common stock on Nasdaq over the ten consecutive trading days immediately prior to the Effective Date (the “Initial Share Price”). The Effective Date was the grant date for accounting purposes. In accordance with accounting rules, the total fair value of the LTIP Units of $32.0 million was calculated and fixed as of the grant date, and is being recorded over the requisite service period of three years. In March 2019, the Company entered into an amendment to the 2018 OPP to reflect a change in the peer group resulting from the merger of one member of the peer group, Select Income REIT, with Government Properties Income Trust, with the entity surviving the merger renamed as Office Properties Income Trust. Under the accounting rules, the Company was required to calculate any excess of the new value of LTIP Units in accordance with the provisions of the amendment ($10.9 million) over the fair value immediately prior to the amendment ($8.1 million). This excess of approximately $2.8 million is being expensed over the period from March 4, 2019, the date the Company’s compensation committee approved the amendment, through August 30, 2021. During the years ended December 31, 2020 2019 and 2018, the Company recorded share-based compensation expense related to the LTIP Units of $11.9 million and $11.6 million and $4.8 million, respectively, which is recorded in equity-based compensation in the consolidated statements of operations and comprehensive loss. As of December 31, 2020, the Company had $6.5 million of unrecognized compensation expense related to the LTIP Units which is expected to be recognized over a period of 0.5 years. LTIP Units represent the maximum number of LTIP Units that may be earned by the Advisor during a performance period commencing on July 19, 2018 and ending on the earliest of (i) July 19, 2021, (ii) the effective date of any Change of Control (as defined in the 2018 OPP) and (iii) the effective date of any termination of the Advisor’s service as advisor of the Company (the “Performance Period”). Half of the LTIP Units (the “Absolute TSR LTIP Units”) are eligible to be earned as of the last day of the Performance Period (the “Valuation Date”) if the Company achieves an absolute total stockholder return (“TSR”) for the Performance Period as follows: Performance Level Absolute TSR Percentage of LTIP Units Earned Below Threshold Less than 24 % — % Threshold 24 % 25 % Target 30 % 50 % Maximum 36 % or higher 100 % If the Company’s absolute TSR is more than 24% but less than 30%, or more than 30% but less than 36%, the percentage of the Absolute TSR LTIP Units earned is determined using linear interpolation as between those tiers, respectively. Half of the LTIP Units (the “Relative TSR LTIP Units”) are eligible to be earned as of the Valuation Date if the amount, expressed in terms of basis points, whether positive or negative, by which the Company’s absolute TSR for the Performance Period exceeds the average TSR of a peer group for the Performance Period consisting of Colony Capital, Inc., Lexington Realty Trust, RPT Realty (formerly known as Ramco-Gershenson Properties Trust), Spirit Realty Capital, Inc. and Office Properties Income Trust as follows: Performance Level Relative TSR Excess Percentage of Relative TSR LTIP Units Earned Below Threshold Less than -600 basis points — % Threshold -600 basis points 25 % Target — basis points 50 % Maximum +600 basis points 100 % If the relative TSR excess is more than -600 basis points but less than — basis points, or more than — basis points but less than +600 basis points, the percentage of the Relative TSR LTIP Units earned is determined using linear interpolation as between those tiers, respectively. The Advisor, as the holder of the LTIP Units, is entitled to distributions on the LTIP Units equal to 10% of the distributions made per Class A Unit (other than distributions of sale proceeds) until the LTIP Units are earned. These distributions are not subject to forfeiture, even if the LTIP Units are ultimately forfeited. The Master LTIP Unit was entitled, on the Effective Date, to receive a distribution equal to the product of 10% of the distributions made per Class A Unit during the period from the Listing Date to the Effective Date multiplied by the number of LTIP Units. For the years ended December 31, 2020, 2019 and 2018, the Company paid distributions on the LTIP Units of $0.4 million, $0.5 million and $0.2 million, respectively, which is recorded in the consolidated statement of changes in equity. If any LTIP Units are earned, the holder will be entitled to a priority catch-up distribution on each earned LTIP Unit equal to the aggregate distributions paid on a Class A Unit during the Performance Period, less the aggregate distributions paid on the LTIP Unit during the Performance Period. As of the Valuation Date, the earned LTIP Units will become entitled to receive the same distributions paid on the Class A Units. Further, at the time the Advisor’s capital account with respect to an LTIP Unit that is earned and vested is economically equivalent to the average capital account balance of a Class A Unit, the Advisor, as the holder of the LTIP Unit in its sole discretion, will, in accordance with the Second A&R OP Agreement, be entitled to convert the LTIP Unit into a Class A Unit, which may, in turn, be redeemed on a one-for-one basis for, at the Company’s election, a share of Class A common stock or the cash equivalent thereof. If the Valuation Date is the effective date of a Change of Control or a termination of the Advisor without Cause (as defined in the Advisory Agreement), the number of LTIP Units earned will be calculated based on actual performance through the last trading day prior to the effective date of the Change of Control or termination (as applicable), with the hurdles for calculating absolute TSR pro-rated to reflect that the Performance Period lasted less than three years but without pro-rating the number of Absolute TSR LTIP Units or Relative TSR LTIP Units the Advisor would be eligible to earn to reflect the shortened period. If the Valuation Date is the effective date of a termination of the Advisor with Cause, the number of LTIP Units earned will also be calculated based on actual performance through the last trading day prior to the effective date of the termination, with the hurdles for calculating absolute TSR pro-rated to reflect that the Performance Period lasted less than three years and with the number of Absolute TSR LTIP Units or Relative TSR LTIP Units the Advisor would be eligible to earn also pro-rated to reflect the shortened period. The award of LTIP Units under the 2018 OPP is administered by the compensation committee, provided that any of the compensation committee’s powers can be exercised instead by the Company’s board of directors if the board of directors so elects. Following the Valuation Date, the compensation committee is responsible for determining the number of Absolute TSR LTIP Units and Relative TSR LTIP Units earned, as calculated by an independent consultant engaged by the compensation committee and as approved by the compensation committee in its reasonable and good faith discretion. The compensation committee also must approve the transfer of any Absolute TSR LTIP Units and Relative TSR LTIP Units (or Class A Units into which they may be converted in accordance with the terms of the A&R LPA). LTIP Units earned as of the Valuation Date will also become vested as of the Valuation Date. Any LTIP Units that are not earned and vested after the compensation committee makes the required determination will automatically and without notice be forfeited without the payment of any consideration by the Company or the OP, effective as of the Valuation Date. Director Compensation Effective on the Listing Date, the Company’s board of directors approved a new director compensation program, which replaced the Company’s existing director compensation program and superseded in all respects the director compensation previously approved by the Company’s board of directors in April 2015. Under the director compensation program, on a regular basis, each independent director receives an annual cash retainer of $60,000 and, in connection with each of the Company’s annual meetings of stockholders, a grant of $85,000 in restricted shares, vesting on the one The lead independent director receives an additional annual cash retainer of $100,000, the chair of the audit committee of the Company’s board of directors receives an additional annual cash retainer of $30,000, each other member of the audit committee receives an additional annual cash retainer of $15,000, the chair of each of the compensation committee and the nominating and corporate governance committee of the Company’s board of directors receives an additional annual cash retainer of $15,000, and each other member of each of the compensation committee and the nominating and corporate governance committee will receive an additional annual cash retainer of $10,000. Each of the Company’s directors received a one-time retention grant on September 5, 2018 of 21,234 restricted shares, representing the number of restricted shares equal to the quotient of $340,000 divided by the Initial Share Price, vesting annually over a three-year period commencing on the Listing Date in equal installments. Because the independent directors did not receive an annual grant of restricted shares in connection with the Company’s 2018 annual meeting of stockholders, on September 5, 2018 the independent directors received a grant of 5,308 restricted shares pursuant to the new director compensation program, representing the number of restricted shares equal to the quotient of $85,000 divided by the Initial Share price, which vested on July 19, 2018. Other Equity-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. If the Company did so, there would be no restrictions on the shares issued since these payments in lieu of cash relate to fees earned for services performed. There were no shares of common stock issued to directors in lieu of cash compensation during the years ended December 31, 2020, 2019 and 2018. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss Per Share The following table sets forth the basic and diluted net loss per share computations for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 Net loss attributable to common stockholders — Basic and Diluted $ (46,650) $ (3,101) $ (37,409) Weighted average shares outstanding — Basic and Diluted 108,404,093 106,397,296 105,560,053 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.43) $ (0.03) $ (0.35) Diluted net loss per share assumes the vesting or conversion of restricted shares and Class A Units into an equivalent number of unrestricted shares of Class A common stock and the conversion of all outstanding Class B Units, prior to their vesting and conversion into Class A Units which were redeemed for shares of Class A common stock in connection with the Listing (see Note 10 — Related Party Transactions and Arrangements for additional information), unless the effect is antidilutive. If dilutive, conditionally issuable shares relating to the 2018 OPP award (see Note 12 — Equity-Based Compensation ) would be included in the computation of fully diluted EPS on a weighted-average basis for the years ended December 31, 2020, 2019 and 2018 based on shares that would be issued if the balance sheet date were the end of the measurement period. No LTIP Unit share equivalents were included in the computation for the years ended December 31, 2020, 2019 and 2018 because no LTIP Units would have been earned based on the trading price of Class A common stock including any cumulative dividends paid (since inception of the OPP) at December 31, 2020, 2019 and 2018. The Company had the following restricted shares, Class A Units, Class B Units and LTIP Units on a weighted-average basis that were excluded from the calculation of diluted net loss per share as their effect would have been antidilutive for the periods presented: December 31, 2020 2019 2018 Unvested restricted shares [1] 199,325 128,959 52,847 Class A Units [2] 172,921 172,921 189,737 Class B Units [3] — — 573,785 LTIP Units [4] 4,496,796 4,496,796 1,515,359 Total 4,869,042 4,798,676 2,331,728 __________ [1] Weighted-average number of shares of unvested restricted shares outstanding for the periods presented. There were 400,872, 111,421 and 136,234 unvested restricted shares outstanding as of December 31, 2020, 2019 and 2018, respectively. [2] Weighted-average number of Class A Units outstanding for the periods presented. There were 172,921 Class A Units outstanding as of December 31, 2020, 2019 and 2018. [3] Weighted-average number of Class B Units outstanding for the period presented. There were no Class B Units outstanding as of December 31, 2020, 2019 and 2018. [4] Weighted-average number of LTIP Units outstanding for the periods presented. There were 4,496,796 LTIP Units outstanding as of December 31, 2020, 2019 and 2018. |
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results (Unaudited) | Quarterly Results (Unaudited) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2020 and 2019: Quarter Ended (In thousands, except share and per share amounts) March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Revenue from tenants $ 74,564 $ 74,934 $ 78,489 $ 77,237 Net loss attributable to common stockholders $ (9,153) $ (21,803) $ (7,091) $ (8,603) Weighted-average shares outstanding — Basic 108,364,082 108,386,013 108,429,315 108,436,329 Weighted-average shares outstanding — Diluted 108,364,082 108,386,013 108,429,315 108,436,329 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.08) $ (0.20) $ (0.07) $ (0.08) Quarter Ended (In thousands, except share and per share amounts) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Revenue from tenants $ 71,541 $ 79,109 $ 72,863 $ 76,231 Net (loss) income attributable to common stockholders (3,227) 7,884 (2,931) $ (4,827) Weighted-average shares outstanding — Basic 106,076,588 106,075,741 106,139,668 107,286,620 Weighted-average shares outstanding — Diluted 106,076,588 106,394,277 106,139,668 107,286,620 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.03) $ 0.07 $ (0.03) $ (0.04) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events The Company has evaluated subsequent events through the filing of this Annual Report on Form 10-K, and determined that there have not been any events that have occurred that would require adjustments to, or disclosures in, the consolidated financial statements except for the following disclosures: Amendment to the Advisory Agreement On January 13, 2021 the Company and the OP entered into Amendment No. 4 to the Advisory Agreement with the Advisor to extend the expiration of the previously disclosed modified quarterly thresholds the Company must reach on a quarterly basis for the Advisor to receive the variable management fee from the end of the fiscal quarter ended December 31, 2020 to the end of the fiscal quarter ending December 31, 2021. Dispositions Subsequent to December 31, 2020, the Company sold two properties with an aggregate contract sale price of $0.6 million. ATM Program — Series A Preferred Stock On January 13, 2021, the Company and the OP entered into a third amendment to the equity distribution agreement related to the Series A Preferred Stock ATM Program, solely for the purpose of increasing the maximum aggregate offering price of the Series A Preferred Stock that may be offered and sold by the Company from time to time from $100.0 million to $200.0 million. ATM Program — Series C Preferred Stock On January 13, 2021, the Company established the Series C Preferred Stock ATM Program pursuant to which the Company may, from time to time, offer, issue and sell to the public, through sales agents, shares of the Series C Preferred Stock having an aggregate offering price of up to $200.0 million. Stockholder Rights Plan Amendment |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2020 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Real Estate and Accumulated Depreciation - Schedule III | (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Dollar General I Retail Mission TX 4/29/2013 $ — (1) $ 142 $ 807 $ — $ — $ 949 $ 287 Dollar General I Retail Sullivan MO 5/3/2013 — (1) 146 825 — — 971 293 Walgreens I Retail Pine Bluff AR 7/8/2013 — — 159 3,016 — — 3,175 1,131 Dollar General II Retail Bogalusa LA 7/12/2013 — (1) 107 965 — 1 1,073 339 Dollar General II Retail Donaldsonville LA 7/12/2013 — (1) 97 871 — — 968 306 AutoZone I Retail Cut Off LA 7/16/2013 — (1) 67 1,282 — — 1,349 447 Dollar General III Retail Athens MI 7/16/2013 — (1) 48 907 — — 955 317 Dollar General III Retail Fowler MI 7/16/2013 — (1) 49 940 — — 989 328 Dollar General III Retail Hudson MI 7/16/2013 — (1) 102 922 — — 1,024 322 Dollar General III Retail Muskegon MI 7/16/2013 — (1) 49 939 — — 988 328 Dollar General III Retail Reese MI 7/16/2013 — (1) 150 848 — — 998 296 BSFS I Retail Fort Myers FL 7/18/2013 — (1) 1,215 1,822 — — 3,037 687 Dollar General IV Retail Bainbridge GA 7/29/2013 — (1) 233 700 — — 933 244 Dollar General IV Retail Vanleer TN 7/29/2013 — (1) 78 705 — — 783 246 Tractor Supply I Retail Vernon CT 8/1/2013 — (1) 358 3,220 — — 3,578 1,030 Dollar General V Retail Meraux LA 8/2/2013 — (1) 708 1,315 — — 2,023 459 Mattress Firm I Retail Tallahassee FL 8/7/2013 — — 1,015 1,241 — — 2,256 433 Family Dollar I Retail Butler KY 8/12/2013 — (1) 126 711 — — 837 248 Lowe's I (16) Retail Fayetteville NC 8/19/2013 — (1) — 6,422 — — 6,422 2,072 Lowe's I (16) Retail Macon GA 8/19/2013 — (1) — 8,420 — — 8,420 2,716 Lowe's I Retail New Bern NC 8/19/2013 — (1) 1,812 10,269 — — 12,081 3,313 Lowe's I Retail Rocky Mount NC 8/19/2013 — (1) 1,931 10,940 — — 12,871 3,529 O'Reilly Auto Parts I Retail Manitowoc WI 8/19/2013 — (1) 85 761 — — 846 264 Food Lion I Retail Charlotte NC 8/20/2013 — (1) 3,132 4,697 — — 7,829 1,496 Family Dollar II Retail Danville AR 8/21/2013 — (1) 170 679 — — 849 235 Lowe's I (16) Retail Aiken SC 8/22/2013 — (1) 1,764 7,056 — — 8,820 2,272 Dollar General VII Retail Gasburg VA 8/23/2013 — (1) 52 993 — — 1,045 344 Dollar General VI Retail Natalbany LA 8/23/2013 — (1) 379 883 — — 1,262 306 Walgreens II (16) Retail Tucker GA 8/23/2013 — (1) — 2,524 — — 2,524 934 Family Dollar III Retail Challis ID 8/27/2013 — (1) 44 828 — — 872 287 Chili's I Retail Lake Jackson TX 8/30/2013 — (1) 746 1,741 — — 2,487 736 Chili's I Retail Victoria TX 8/30/2013 — (1) 813 1,897 — — 2,710 802 CVS I Retail Anniston AL 8/30/2013 — (1) 472 1,887 — — 2,359 698 Joe's Crab Shack I Retail Westminster CO 8/30/2013 — — 1,136 2,650 — — 3,786 1,121 Tire Kingdom I Retail Lake Wales FL 9/4/2013 — (1) 556 1,296 — — 1,852 485 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] AutoZone II Retail Temple GA 9/6/2013 — (1) 569 854 — — 1,423 296 Dollar General VIII Retail Stanleytown VA 9/6/2013 — (1) 185 1,049 — — 1,234 364 Family Dollar IV Retail Oil City LA 9/9/2013 — (1) 76 685 — — 761 237 Fresenius I Retail Montevallo AL 9/12/2013 — (1) 300 1,699 — — 1,999 514 Dollar General IX Retail Mabelvale AR 9/13/2013 — (1) 38 723 — — 761 250 Advance Auto I Retail Angola IN 9/19/2013 — (1) 35 671 — — 706 231 Arby's I Retail Hernando MS 9/19/2013 — (1) 624 1,455 — — 2,079 612 CVS II (16) Retail Holyoke MA 9/19/2013 — (1) — 2,258 — — 2,258 830 Walgreens III Retail Lansing MI 9/19/2013 — (1) 216 4,099 — — 4,315 1,507 Walgreens IV Retail Beaumont TX 9/20/2013 — (1) 499 1,995 — — 2,494 733 AmeriCold I Distribution Belvidere IL 9/24/2013 — (1) 2,170 17,843 — — 20,013 6,928 AmeriCold I Distribution Brooklyn Park MN 9/24/2013 — (1) 1,590 11,940 — — 13,530 4,636 AmeriCold I Distribution Cartersville GA 9/24/2013 — (1) 1,640 14,533 — — 16,173 5,643 AmeriCold I Distribution Douglas GA 9/24/2013 — (1) 750 7,076 — — 7,826 2,747 AmeriCold I Distribution Gaffney SC 9/24/2013 — (1) 1,360 5,666 — — 7,026 2,200 AmeriCold I Distribution Gainesville GA 9/24/2013 — (1) 1,580 13,838 — — 15,418 5,372 AmeriCold I Distribution Pendergrass GA 9/24/2013 — (1) 2,810 26,572 — — 29,382 10,317 AmeriCold I Distribution Piedmont SC 9/24/2013 — (1) 3,030 24,067 — — 27,097 9,344 AmeriCold I Distribution Zumbrota MN 9/24/2013 — (1) 2,440 18,152 — — 20,592 7,048 Dollar General X Retail Greenwell Springs LA 9/24/2013 — (1) 114 1,029 — — 1,143 354 Home Depot I Distribution Birmingham AL 9/24/2013 — (1) 3,660 33,667 — — 37,327 10,735 Home Depot I Distribution Valdosta GA 9/24/2013 — (1) 2,930 30,538 — — 33,468 9,737 National Tire & Battery I Retail San Antonio TX 9/24/2013 — — 577 577 — — 1,154 214 New Breed Logistics I Distribution Hanahan SC 9/24/2013 — (1) 2,940 19,171 — — 22,111 7,443 Truist Bank I Retail Atlanta GA 9/24/2013 — (1) 570 1,152 — — 1,722 380 Truist Bank I Retail Cary NC 9/24/2013 — (1) 370 841 — — 1,211 277 Truist Bank I Retail Chattanooga TN 9/24/2013 — (1) 220 781 — 10 1,011 258 Truist Bank I Retail Doswell VA 9/24/2013 — (1) 190 510 — — 700 168 Truist Bank I Retail Fort Pierce FL 9/24/2013 — (1) 720 1,434 (161) (248) 1,745 441 Truist Bank I Retail Nashville TN 9/24/2013 — (1) 190 666 — — 856 220 Truist Bank I Retail New Market VA 9/24/2013 — (1) 330 948 — — 1,278 313 Truist Bank I Retail New Smyrna Beach FL 9/24/2013 — (1) 740 2,859 — — 3,599 943 Truist Bank I Retail Oak Ridge TN 9/24/2013 — (1) 500 1,277 — 9 1,786 421 Truist Bank I Retail Orlando FL 9/24/2013 — (1) 410 2,078 — — 2,488 686 Truist Bank I Retail Orlando FL 9/24/2013 — (1) 540 3,069 — — 3,609 1,013 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Truist Bank I Retail Savannah TN 9/24/2013 — (1) 390 1,179 — — 1,569 389 Truist Bank I Retail Stokesdale NC 9/24/2013 — (1) 230 581 — — 811 192 Truist Bank I Retail Summerfield NC 9/24/2013 — (1) 210 605 — — 815 199 Truist Bank I Retail Thomson GA 9/24/2013 — (1) 480 1,015 — — 1,495 335 Truist Bank I Retail Vinton VA 9/24/2013 — (1) 120 366 — — 486 121 Truist Bank I Retail Washington DC 9/24/2013 — (1) 590 2,366 — — 2,956 781 Truist Bank I Retail Waycross GA 9/24/2013 — (1) 300 1,425 — — 1,725 470 Truist Bank I Retail Waynesville NC 9/24/2013 — (1) 200 874 — — 1,074 288 Circle K I Retail Aledo IL 9/25/2013 — (1) 427 1,709 — — 2,136 588 Circle K I Retail Bedford OH 9/25/2013 — (1) 702 702 — — 1,404 242 Circle K I Retail Bloomington IL 9/25/2013 — (1) 395 592 — — 987 204 Circle K I Retail Bloomington IL 9/25/2013 — (1) 316 586 — — 902 202 Circle K I Retail Burlington IA 9/25/2013 — (1) 224 523 — — 747 180 Circle K I Retail Champaign IL 9/25/2013 — (1) 412 504 — — 916 173 Circle K I Retail Clinton IA 9/25/2013 — (1) 334 779 — — 1,113 268 Circle K I Retail Galesburg IL 9/25/2013 — (1) 355 829 — — 1,184 285 Circle K I Retail Jacksonville IL 9/25/2013 — (1) 316 474 — — 790 163 Circle K I Retail Jacksonville IL 9/25/2013 — (1) 351 818 — — 1,169 282 Circle K I Retail Lafayette IN 9/25/2013 — (1) 401 746 — — 1,147 257 Circle K I Retail Mattoon IL 9/25/2013 — (1) 608 1,129 — — 1,737 389 Circle K I Retail Morton IL 9/25/2013 — (1) 350 525 — — 875 181 Circle K I Retail Muscatine IA 9/25/2013 — (1) 274 821 — — 1,095 283 Circle K I Retail Paris IL 9/25/2013 — (1) 429 797 — — 1,226 275 Circle K I Retail Staunton IL 9/25/2013 — (1) 467 1,867 — — 2,334 643 Circle K I Retail Streetsboro OH 9/25/2013 — (1) 540 540 — — 1,080 186 Circle K I Retail Vandalia IL 9/25/2013 — (1) 529 983 — — 1,512 338 Circle K I Retail Virden IL 9/25/2013 — (1) 302 1,208 — — 1,510 416 Walgreens VI Retail Gillette WY 9/27/2013 — (1) 1,198 2,796 — — 3,994 1,027 Walgreens V Retail Oklahoma City OK 9/27/2013 — (1) 1,295 3,884 — — 5,179 1,427 1st Constitution Bancorp I Retail Hightstown NJ 9/30/2013 — (1) 260 1,471 — — 1,731 485 American Tire Distributors I Distribution Chattanooga TN 9/30/2013 — (1) 401 7,626 — — 8,027 2,961 FedEx Ground I Distribution Watertown SD 9/30/2013 — (1) 136 2,581 — — 2,717 1,002 Krystal I Retail Chattanooga TN 9/30/2013 — — 285 855 — — 1,140 360 Krystal I Retail Cleveland TN 9/30/2013 — — 207 1,171 — — 1,378 493 Krystal I Retail Columbus GA 9/30/2013 — — 143 1,288 — — 1,431 542 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Krystal I Retail Ft. Oglethorpe GA 9/30/2013 — — 181 1,024 — — 1,205 431 Krystal I Retail Jacksonville FL 9/30/2013 — — 533 799 — — 1,332 336 Krystal I Retail Madison TN 9/30/2013 — — 416 624 — — 1,040 263 O'Charley's I Retail Carrollton GA 9/30/2013 — (1) 457 1,067 — — 1,524 449 O'Charley's I Retail Champaign IL 9/30/2013 — (1) 256 1,449 — — 1,705 610 O'Charley's I Retail Clarksville TN 9/30/2013 — (1) 917 1,376 — — 2,293 579 O'Charley's I Retail Columbus OH 9/30/2013 — (1) 271 1,533 — — 1,804 645 O'Charley's I Retail Conyers GA 9/30/2013 — (1) 373 2,113 — — 2,486 888 O'Charley's I Retail Corydon IN 9/30/2013 — (1) 260 1,473 — — 1,733 619 O'Charley's I Retail Daphne AL 9/30/2013 — (1) 142 1,275 — — 1,417 536 O'Charley's I Retail Foley AL 9/30/2013 — (1) 264 1,495 — — 1,759 629 O'Charley's I Retail Greenfield IN 9/30/2013 — (1) 507 1,184 — — 1,691 498 O'Charley's I Retail Grove City OH 9/30/2013 — (1) 387 1,546 — — 1,933 650 O'Charley's I Retail Hattiesburg MS 9/30/2013 — (1) 413 1,651 — — 2,064 694 O'Charley's I Retail Lake Charles LA 9/30/2013 — (1) 1,118 1,367 — — 2,485 575 O'Charley's I Retail Mcdonough GA 9/30/2013 — (1) 335 1,898 — — 2,233 798 O'Charley's I Retail Murfreesboro TN 9/30/2013 — (1) 597 1,109 — — 1,706 466 O'Charley's I Retail Salisbury NC 9/30/2013 — (1) 439 1,024 — — 1,463 431 O'Charley's I Retail Simpsonville SC 9/30/2013 — (1) 349 1,395 — — 1,744 586 O'Charley's I Retail Southaven MS 9/30/2013 — (1) 836 1,553 — — 2,389 653 O'Charley's I Retail Springfield OH 9/30/2013 — (1) 262 1,484 — — 1,746 624 Walgreens VII Retail Alton IL 9/30/2013 — (1) 1,158 3,474 — — 4,632 1,277 Walgreens VII Retail Florissant MO 9/30/2013 — (1) 561 1,309 — — 1,870 481 Walgreens VII Retail Florissant MO 9/30/2013 — (1) 474 1,422 — — 1,896 523 Walgreens VII Retail Mahomet IL 9/30/2013 — (1) 1,432 2,659 — — 4,091 977 Walgreens VII Retail Monroe MI 9/30/2013 — (1) 1,149 2,680 — — 3,829 985 Walgreens VII Retail Springfield IL 9/30/2013 — (1) 1,319 3,077 — — 4,396 1,131 Walgreens VII Retail St Louis MO 9/30/2013 — (1) 903 2,107 — — 3,010 774 Walgreens VII Retail Washington IL 9/30/2013 — (1) 964 2,893 — — 3,857 1,063 Tractor Supply II Retail Houghton MI 10/3/2013 — (1) 204 1,158 — — 1,362 364 National Tire & Battery II (16) Retail Mundelein IL 10/4/2013 — — — 1,742 — — 1,742 646 United Healthcare I Office Howard (Green Bay) WI 10/7/2013 — — 3,805 47,565 — — 51,370 9,186 Tractor Supply III Retail Harlan KY 10/16/2013 — (1) 248 2,232 — — 2,480 695 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Mattress Firm II Retail Knoxville TN 10/18/2013 — (1) 189 754 — — 943 258 Dollar General XI Retail Greenville MS 10/23/2013 — (1) 192 769 — — 961 263 Talecris Plasma Resources I Office Eagle Pass TX 10/29/2013 — (1) 286 2,577 — — 2,863 767 Amazon I Office Winchester KY 10/30/2013 — (1) 362 8,070 — 2 8,434 2,688 Fresenius II Retail Montclair NJ 10/31/2013 — (1) 1,214 2,255 — — 3,469 672 Fresenius II Retail Sharon Hill PA 10/31/2013 — (1) 345 1,956 — — 2,301 582 Dollar General XII Retail Le Center MN 11/1/2013 — (1) 47 886 — — 933 303 Advance Auto II Retail Bunnell FL 11/7/2013 — (1) 92 1,741 — — 1,833 595 Advance Auto II Retail Washington GA 11/7/2013 — (1) 55 1,042 — — 1,097 356 Dollar General XIII Retail Vidor TX 11/7/2013 — (1) 46 875 — — 921 299 FedEx Ground II Distribution Leland MS 11/12/2013 — (1) 220 4,186 — — 4,406 1,612 Burger King I Retail Algonquin IL 11/14/2013 — (1) 798 798 (142) — 1,454 282 Burger King I Retail Antioch IL 11/14/2013 — (1) 706 471 — — 1,177 167 Burger King I Retail Austintown OH 11/14/2013 — (1) 221 1,251 — — 1,472 443 Burger King I Retail Beavercreek OH 11/14/2013 — (1) 410 761 — — 1,171 269 Burger King I Retail Bethel Park PA 11/14/2013 — (1) 342 634 — — 976 224 Burger King I Retail Celina OH 11/14/2013 — (1) 233 932 — — 1,165 330 Burger King I Retail Chardon OH 11/14/2013 — (1) 332 497 — — 829 176 Burger King I Retail Chesterland OH 11/14/2013 — (1) 320 747 — — 1,067 264 Burger King I Retail Columbiana OH 11/14/2013 — (1) 581 871 — — 1,452 308 Burger King I Retail Cortland OH 11/14/2013 — (1) 118 1,063 — — 1,181 376 Burger King I Retail Crystal Lake IL 11/14/2013 — (1) 541 232 — — 773 82 Burger King I Retail Dayton OH 11/14/2013 — (1) 464 862 — — 1,326 305 Burger King I Retail Fairborn OH 11/14/2013 — (1) 421 982 — — 1,403 347 Burger King I Retail Girard OH 11/14/2013 — (1) 421 1,264 — — 1,685 447 Burger King I Retail Grayslake IL 11/14/2013 — (1) 582 476 — — 1,058 169 Burger King I Retail Greenville OH 11/14/2013 — (1) 248 993 — — 1,241 351 Burger King I Retail Gurnee IL 11/14/2013 — (1) 931 931 — — 1,862 329 Burger King I Retail Madison OH 11/14/2013 — (1) 282 845 — — 1,127 299 Burger King I Retail McHenry IL 11/14/2013 — (1) 742 318 — — 1,060 113 Burger King I Retail Mentor OH 11/14/2013 — (1) 196 786 — — 982 278 Burger King I Retail Niles OH 11/14/2013 — (1) 304 1,214 — — 1,518 430 Burger King I Retail North Fayette PA 11/14/2013 — (1) 463 1,388 — — 1,851 491 Burger King I Retail North Royalton OH 11/14/2013 — (1) 156 886 — — 1,042 314 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Burger King I Retail North Versailles PA 11/14/2013 — (1) 553 1,659 — — 2,212 587 Burger King I Retail Painesville OH 11/14/2013 — (1) 170 965 — — 1,135 341 Burger King I Retail Poland OH 11/14/2013 — (1) 212 847 — — 1,059 300 Burger King I Retail Ravenna OH 11/14/2013 — (1) 391 1,172 — — 1,563 415 Burger King I Retail Round Lake Beach IL 11/14/2013 — (1) 1,273 1,042 — — 2,315 369 Burger King I Retail Salem OH 11/14/2013 — (1) 352 1,408 — — 1,760 498 Burger King I Retail Trotwood OH 11/14/2013 — (1) 266 798 — — 1,064 282 Burger King I Retail Twinsburg OH 11/14/2013 — (1) 458 850 — — 1,308 301 Burger King I Retail Vandalia OH 11/14/2013 — (1) 182 728 — — 910 258 Burger King I Retail Warren OH 11/14/2013 — (1) 168 1,516 — — 1,684 536 Burger King I Retail Warren OH 11/14/2013 — (1) 176 997 — — 1,173 353 Burger King I Retail Waukegan IL 11/14/2013 — (1) 611 611 — — 1,222 216 Burger King I Retail Willoughby OH 11/14/2013 — (1) 394 920 — — 1,314 325 Burger King I Retail Woodstock IL 11/14/2013 — (1) 869 290 — — 1,159 103 Burger King I Retail Youngstown OH 11/14/2013 — (1) 147 1,324 — — 1,471 468 Burger King I Retail Youngstown OH 11/14/2013 — (1) 186 1,675 — — 1,861 593 Burger King I Retail Youngstown OH 11/14/2013 — (1) 370 1,481 — — 1,851 524 Burger King I Retail Youngstown OH 11/14/2013 — (1) 300 901 — — 1,201 319 Dollar General XIV Retail Fort Smith AR 11/20/2013 — (1) 184 1,042 — — 1,226 354 Dollar General XIV Retail Hot Springs AR 11/20/2013 — (1) 287 862 — — 1,149 293 Dollar General XIV Retail Royal AR 11/20/2013 — (1) 137 777 — — 914 264 Dollar General XV Retail Wilson NY 11/20/2013 — (1) 172 972 — — 1,144 330 Mattress Firm I Retail McDonough GA 11/22/2013 — — 185 1,663 — — 1,848 565 FedEx Ground III Distribution Bismarck ND 11/25/2013 — (1) 554 3,139 — — 3,693 1,199 Dollar General XVI Retail LaFollette TN 11/27/2013 — (1) 43 824 — — 867 280 Family Dollar V Retail Carrollton MO 11/27/2013 — (1) 37 713 1 1 752 242 CVS III Retail Detroit MI 12/10/2013 — — 447 2,533 — — 2,980 918 Family Dollar VI Retail Walden CO 12/10/2013 — (1) 100 568 — — 668 193 Mattress Firm III Retail Valdosta GA 12/17/2013 — — 169 1,522 — — 1,691 513 Arby's II Retail Virginia MN 12/23/2013 — (1) 117 1,056 — — 1,173 368 Family Dollar VI Retail Kremmling CO 12/23/2013 — (1) 194 778 — — 972 262 SAAB Sensis I Office Syracuse NY 12/23/2013 6,217 2,516 12,570 — — 15,086 2,499 Citizens Bank I Retail Doylestown PA 12/27/2013 — (1) 588 1,373 — — 1,961 444 Citizens Bank I Retail Lansdale PA 12/27/2013 — (1) 531 1,238 — — 1,769 400 Citizens Bank I Retail Lima PA 12/27/2013 — (1) 1,376 1,682 — — 3,058 543 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Citizens Bank I Retail Philadelphia PA 12/27/2013 — (1) 388 1,551 — — 1,939 501 Citizens Bank I Retail Philadelphia PA 12/27/2013 — (1) 412 2,337 — — 2,749 755 Citizens Bank I Retail Philadelphia PA 12/27/2013 — (1) 321 2,889 — — 3,210 933 Citizens Bank I Retail Philadelphia PA 12/27/2013 — (1) 473 2,680 — — 3,153 866 Citizens Bank I Retail Richboro PA 12/27/2013 — (1) 642 1,193 — — 1,835 385 Citizens Bank I Retail Wayne PA 12/27/2013 — (1) 1,923 1,923 — — 3,846 621 Truist Bank II Retail Arden NC 1/8/2014 — (2) 374 216 — — 590 53 Truist Bank II Retail Bushnell FL 1/8/2014 — (2) 385 1,216 — — 1,601 225 Truist Bank II Retail Chattanooga TN 1/8/2014 — (2) 358 564 — — 922 117 Truist Bank II Retail Chesapeake VA 1/8/2014 — (2) 490 695 — — 1,185 148 Truist Bank II Retail Cockeysville MD 1/8/2014 — (2) 2,184 479 — — 2,663 96 Truist Bank II Retail Douglasville GA 1/8/2014 — (2) 410 749 — — 1,159 155 Truist Bank II Retail Duluth GA 1/8/2014 — (2) 1,081 2,111 — — 3,192 417 Truist Bank II Retail East Ridge TN 1/8/2014 — (2) 276 475 — — 751 110 Truist Bank II Retail Lynchburg VA 1/8/2014 — (2) 584 1,255 — — 1,839 258 Truist Bank II Retail Mauldin SC 1/8/2014 — (2) 542 704 — — 1,246 162 Truist Bank II Retail Okeechobee FL 1/8/2014 — (2) 339 1,569 — — 1,908 397 Truist Bank II Retail Panama City FL 1/8/2014 — (2) 484 1,075 — — 1,559 229 Truist Bank II Retail Plant City FL 1/8/2014 — (2) 499 1,139 — — 1,638 247 Truist Bank II Retail Salisbury NC 1/8/2014 — (2) 264 293 — — 557 78 Truist Bank II Retail Seminole FL 1/8/2014 — (2) 1,329 3,486 — — 4,815 667 Mattress Firm IV Retail Meridian ID 1/10/2014 — — 691 1,193 — — 1,884 249 Dollar General XII Retail Sunrise Beach MO 1/15/2014 — (1) 105 795 — — 900 233 FedEx Ground IV Distribution Council Bluffs IA 1/24/2014 — (1) 768 3,908 — — 4,676 867 Mattress Firm V Retail Florence AL 1/28/2014 — — 299 1,478 — 1 1,778 303 Mattress Firm I Retail Aiken SC 2/5/2014 — — 426 1,029 — — 1,455 245 Family Dollar VII Retail Bernice LA 2/7/2014 — (1) 51 527 — — 578 113 Aaron's I Retail Erie PA 2/10/2014 — (1) 126 708 — — 834 138 AutoZone III Retail Caro MI 2/13/2014 — (1) 135 855 — — 990 172 C&S Wholesale Grocer I Distribution Hatfield (South) MA 2/21/2014 — (10) 1,420 14,169 — — 15,589 2,524 Advance Auto III Retail Taunton MA 2/25/2014 — (1) 404 1,148 — — 1,552 212 Family Dollar VIII Retail Dexter NM 3/3/2014 — (1) 79 745 — — 824 178 Family Dollar VIII Retail Hale Center TX 3/3/2014 — (1) 111 624 — — 735 150 Family Dollar VIII Retail Plains TX 3/3/2014 — (1) 100 624 — — 724 148 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Dollar General XVII Retail Tullos LA 3/6/2014 — (1) 114 736 — — 850 151 Truist Bank III Retail Asheboro NC 3/10/2014 — (3) 458 774 — — 1,232 164 Truist Bank III Retail Athens GA 3/10/2014 — (3) 427 472 — — 899 144 Truist Bank III Retail Atlanta GA 3/10/2014 — (3) 3,027 4,873 — — 7,900 885 Truist Bank III Retail Atlanta GA 3/10/2014 — (3) 4,422 1,559 — — 5,981 313 Truist Bank III Retail Avondale MD 3/10/2014 — (3) 1,760 485 — — 2,245 100 Truist Bank III Retail Brentwood TN 3/10/2014 — (3) 996 1,536 — — 2,532 303 Truist Bank III Retail Brentwood TN 3/10/2014 — (3) 885 1,987 — — 2,872 386 Truist Bank III Retail Brunswick GA 3/10/2014 — (3) 384 888 (267) (636) 369 14 Truist Bank III Retail Casselberry FL 3/10/2014 — (3) 609 2,443 — — 3,052 469 Truist Bank IV Retail Chamblee GA 3/10/2014 — (4) 1,029 813 — — 1,842 174 Truist Bank III Retail Chattanooga TN 3/10/2014 — (3) 419 811 — — 1,230 156 Truist Bank III Retail Chattanooga TN 3/10/2014 — (3) 191 335 — — 526 66 First Horizon Bank Retail Collinsville VA 3/10/2014 — (4) 215 555 — — 770 112 Truist Bank IV Retail Columbus GA 3/10/2014 — (4) 417 1,395 — 1 1,813 276 Truist Bank III Retail Conyers GA 3/10/2014 — (3) 205 1,334 — — 1,539 254 Truist Bank IV Office Creedmoor NC 3/10/2014 — (4) 306 789 (128) (300) 667 124 Truist Bank III Retail Daytona Beach FL 3/10/2014 — (3) 443 1,586 — — 2,029 331 Truist Bank III Retail Dunn NC 3/10/2014 — (3) 384 616 — — 1,000 137 First Horizon Bank Retail Durham NC 3/10/2014 — (3) 284 506 — — 790 124 First Horizon Bank Retail Durham NC 3/10/2014 — (3) 488 742 — — 1,230 144 Truist Bank III Retail Fairfax VA 3/10/2014 — (3) 2,835 1,081 — — 3,916 208 Truist Bank III Retail Gainesville FL 3/10/2014 — (3) 457 816 — — 1,273 177 Truist Bank III Retail Gainesville FL 3/10/2014 — (3) 458 2,139 — — 2,597 409 Truist Bank III Retail Greenville SC 3/10/2014 — (3) 590 1,007 — — 1,597 215 Truist Bank III Retail Greenville SC 3/10/2014 — (3) 449 1,640 — — 2,089 405 Truist Bank III Retail Greenville SC 3/10/2014 — (3) 377 871 — — 1,248 175 Truist Bank III Retail Greenville SC 3/10/2014 — (3) 264 684 — — 948 140 Truist Bank III Retail Gulf Breeze FL 3/10/2014 — (3) 1,092 1,569 — — 2,661 323 Truist Bank III Retail Hendersonville NC 3/10/2014 — (3) 468 945 — — 1,413 190 Truist Bank III Retail Indian Harbour Beach FL 3/10/2014 — (3) 914 1,181 — — 2,095 332 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Truist Bank III Retail Inverness FL 3/10/2014 — (3) 867 2,559 — — 3,426 507 Truist Bank III Retail Jacksonville FL 3/10/2014 — (3) 871 372 — — 1,243 89 Truist Bank III Retail Jacksonville FL 3/10/2014 — (3) 366 1,136 — — 1,502 229 Truist Bank III Retail Lakeland FL 3/10/2014 — (3) 927 1,594 — — 2,521 374 Truist Bank III Retail Lenoir NC 3/10/2014 — (3) 1,021 3,980 — — 5,001 729 Truist Bank III Retail Lexington VA 3/10/2014 — (3) 122 385 — — 507 86 Truist Bank III Retail Lithonia GA 3/10/2014 — (3) 212 770 — — 982 154 Truist Bank III Retail Lutz FL 3/10/2014 — (3) 438 1,477 — — 1,915 281 Truist Bank III Retail Macon GA 3/10/2014 — (3) 214 771 — — 985 172 Truist Bank IV Retail Madison GA 3/10/2014 — (4) 304 612 — — 916 113 Truist Bank III Retail Marietta GA 3/10/2014 — (3) 2,168 1,169 — — 3,337 249 Truist Bank III Retail Marietta GA 3/10/2014 — (3) 1,087 2,056 — — 3,143 383 Truist Bank III Retail Mebane NC 3/10/2014 — (3) 500 887 — — 1,387 172 Truist Bank III Retail Melbourne FL 3/10/2014 — (3) 772 1,927 — — 2,699 381 Truist Bank III Retail Melbourne FL 3/10/2014 — (3) 788 1,888 — — 2,676 360 Truist Bank III Retail Morristown TN 3/10/2014 — (3) 214 444 — — 658 122 Truist Bank III Retail Mount Dora FL 3/10/2014 — (3) 570 1,933 — — 2,503 368 Truist Bank III Retail Murfreesboro TN 3/10/2014 — (3) 451 847 — — 1,298 156 Truist Bank III Retail Nashville TN 3/10/2014 — (3) 1,776 1,601 — — 3,377 358 Truist Bank IV Retail Ocala FL 3/10/2014 — (4) 581 1,091 — — 1,672 250 Truist Bank III Retail Ocala FL 3/10/2014 — (3) 347 1,336 — — 1,683 365 First Horizon Bank Retail Onancock VA 3/10/2014 — (3) 829 1,300 — — 2,129 240 Truist Bank III Retail Orlando FL 3/10/2014 — (3) 1,234 1,125 — — 2,359 233 Truist Bank III Retail Ormond Beach FL 3/10/2014 — (3) 873 2,235 — — 3,108 428 Truist Bank III Retail Ormond Beach FL 3/10/2014 — (3) 1,047 1,566 — — 2,613 331 Truist Bank III Retail Ormond Beach FL 3/10/2014 — (3) 854 1,385 — — 2,239 283 Truist Bank III Retail Oxford NC 3/10/2014 — (3) 530 1,727 1 — 2,258 321 Truist Bank III Retail Peachtree City GA 3/10/2014 — (3) 887 2,242 — — 3,129 453 First Horizon Bank Retail Pittsboro NC 3/10/2014 — (4) 61 510 — — 571 90 Truist Bank III Retail Pompano Beach FL 3/10/2014 — (3) 886 2,024 — — 2,910 384 Truist Bank III Retail Port St. Lucie FL 3/10/2014 — (3) 913 1,772 — — 2,685 369 Truist Bank IV Retail Prince Frederick MD 3/10/2014 — (4) 2,431 940 — — 3,371 201 Truist Bank III Retail Richmond VA 3/10/2014 — (3) 153 313 — — 466 74 Truist Bank III Office Richmond VA 3/10/2014 — (3) 3,141 7,441 (804) 755 10,533 1,840 Truist Bank III Retail Richmond VA 3/10/2014 — (3) 233 214 — — 447 51 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Truist Bank III Retail Roanoke VA 3/10/2014 — (3) 753 1,165 — — 1,918 240 Truist Bank III Retail Roanoke VA 3/10/2014 — (3) 316 734 — — 1,050 146 Truist Bank III Retail Rockledge FL 3/10/2014 — (3) 742 1,126 — — 1,868 227 Truist Bank III Retail Sarasota FL 3/10/2014 — (3) 741 852 — — 1,593 186 Truist Bank III Retail Savannah GA 3/10/2014 — (3) 458 936 — — 1,394 221 Truist Bank III Retail Savannah GA 3/10/2014 — (3) 224 1,116 — — 1,340 220 Truist Bank III Retail Signal Mountain TN 3/10/2014 — (3) 296 697 — — 993 137 Truist Bank III Retail Soddy Daisy TN 3/10/2014 — (3) 338 624 — — 962 118 Truist Bank IV Retail Spring Hill FL 3/10/2014 — (4) 673 2,550 — — 3,223 476 Truist Bank III Retail St. Cloud FL 3/10/2014 — (3) 1,046 1,887 — — 2,933 374 Truist Bank III Retail St. Petersburg FL 3/10/2014 — (3) 803 1,043 — — 1,846 207 Truist Bank III Retail Stafford VA 3/10/2014 — (3) 2,130 1,714 — — 3,844 333 Truist Bank III Retail Stockbridge GA 3/10/2014 — (3) 358 760 — — 1,118 159 Truist Bank III Retail Stone Mountain GA 3/10/2014 — (3) 605 522 — — 1,127 104 First Horizon Bank Retail Stuart VA 3/10/2014 — (4) 374 1,532 — — 1,906 294 Truist Bank III Retail Sylvester GA 3/10/2014 — (3) 242 845 — — 1,087 174 Truist Bank III Retail Tamarac FL 3/10/2014 — (3) 997 1,241 1 — 2,239 253 Truist Bank III Retail Union City GA 3/10/2014 — (3) 400 542 — — 942 116 Truist Bank III Retail Williamsburg VA 3/10/2014 — (3) 447 585 — — 1,032 132 First Horizon Bank Retail Winston-Salem NC 3/10/2014 — (3) 362 513 — — 875 108 First Horizon Bank Retail Yadkinville NC 3/10/2014 — (3) 438 765 — — 1,203 148 Dollar General XVIII Retail Deville LA 3/19/2014 — (1) 93 741 — — 834 151 Mattress Firm I Retail Holland MI 3/19/2014 — — 507 1,014 — — 1,521 229 Sanofi US I Office Bridgewater NJ 3/21/2014 125,000 16,009 194,287 — — 210,296 35,136 Dollar General XVII Retail Hornbeck LA 3/25/2014 — (1) 82 780 — — 862 157 Family Dollar IX Retail Fannettsburg PA 4/8/2014 — (1) 165 803 — — 968 158 Mattress Firm I Retail Saginaw MI 4/8/2014 — — 337 1,140 — — 1,477 244 Bi-Lo I Retail Greenville SC 5/8/2014 — — 1,504 4,770 — — 6,274 909 Stop & Shop I Retail Bristol RI 5/8/2014 — (5) 2,860 10,010 — — 12,870 1,858 Stop & Shop I Retail Cumberland RI 5/8/2014 — 3,295 13,693 — 1 16,989 2,609 Stop & Shop I Retail Framingham MA 5/8/2014 — (5) 3,971 12,289 — — 16,260 2,127 Stop & Shop I Retail Malden MA 5/8/2014 — (5) 4,418 15,195 — — 19,613 2,620 Stop & Shop I Retail Sicklerville NJ 5/8/2014 — (1) 2,367 9,873 — — 12,240 1,776 Stop & Shop I Retail Southington CT 5/8/2014 — (1) 3,238 13,169 — — 16,407 2,399 Stop & Shop I Retail Swampscott MA 5/8/2014 — (5) 3,644 12,982 — — 16,626 2,235 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Dollar General XVII Retail Forest Hill LA 5/12/2014 — (1) 83 728 — — 811 147 Dollar General XIX Retail Chelsea OK 5/13/2014 — (1) 231 919 — — 1,150 203 Dollar General XX Retail Brookhaven MS 5/14/2014 — (1) 186 616 — — 802 121 Dollar General XX Retail Columbus MS 5/14/2014 — (1) 370 491 — — 861 110 Dollar General XX Retail Forest MS 5/14/2014 — (1) 72 856 — — 928 160 Dollar General XX Retail Rolling Fork MS 5/14/2014 — (1) 244 929 — — 1,173 178 Dollar General XX Retail West Point MS 5/14/2014 — (1) 318 506 — — 824 121 Dollar General XXI Retail Huntington WV 5/29/2014 — (1) 101 1,101 — — 1,202 233 Dollar General XXII Retail Warren IN 5/30/2014 — (1) 88 962 — — 1,050 172 FedEx Ground V (16) Distribution Sioux City IA 2/18/2016 — (1) 199 5,638 55 — 5,892 794 FedEx Ground VII Distribution Eagle River WI 2/19/2016 — (1) 40 6,022 — — 6,062 910 FedEx Ground VI Distribution Grand Forks ND 2/19/2016 — (1) 1,288 8,988 — 146 10,422 1,438 FedEx Ground VIII Distribution Mosinee WI 2/23/2016 — (1) 203 9,017 — — 9,220 1,449 Anderson Station (11) Multi-tenant Retail Anderson SC 2/16/2017 — (7) 5,201 27,100 — 832 33,133 3,381 Riverbend Marketplace (11) Multi-tenant Retail Asheville NC 2/16/2017 — (7) 4,949 18,213 — — 23,162 2,047 Northlake Commons (11) Multi-tenant Retail Charlotte NC 2/16/2017 — (10) 17,539 16,342 — 66 33,947 2,067 Shops at Rivergate South (11) Multi-tenant Retail Charlotte NC 2/16/2017 — (7) 5,202 28,378 — 162 33,742 3,156 Cross Pointe Centre (11) Multi-tenant Retail Fayetteville NC 2/16/2017 — (7) 8,075 19,717 — 534 28,326 2,249 Parkside Shopping Center (11) Multi-tenant Retail Frankfort KY 2/16/2017 — (10) 9,978 29,996 695 1,155 41,824 3,823 Patton Creek (11) Multi-tenant Retail Hoover AL 2/16/2017 34,000 15,799 79,150 — 309 95,258 8,597 Southway Shopping Center (11) Multi-tenant Retail Houston TX 2/16/2017 — (10) 10,260 24,440 — 26 34,726 2,627 Northpark Center (11) Multi-tenant Retail Huber Heights OH 2/16/2017 — (7) 8,975 28,552 — 1,302 38,829 3,362 Tiffany Springs MarketCenter (11) Multi-tenant Retail Kansas City MO 2/16/2017 — (10) 10,154 50,832 — 3,396 64,382 6,614 North Lakeland Plaza (11) Multi-tenant Retail Lakeland FL 2/16/2017 — (7) 2,599 12,652 — 172 15,423 1,450 Best on the Boulevard (11) Multi-tenant Retail Las Vegas NV 2/16/2017 — (7) 10,046 32,706 — 255 43,007 3,669 Montecito Crossing (11) Multi-tenant Retail Las Vegas NV 2/16/2017 — (7) 16,204 36,477 — 12 52,693 4,196 Pine Ridge Plaza (11) Multi-tenant Retail Lawrence KS 2/16/2017 — (10) 14,008 20,935 — 576 35,519 2,614 Jefferson Commons (11) Multi-tenant Retail Louisville KY 2/16/2017 — (7) 5,110 29,432 — 2,643 37,185 3,618 Towne Centre Plaza (11) Multi-tenant Retail Mesquite TX 2/16/2017 — (10) 3,553 11,992 — 835 16,380 1,483 (In thousands) Initial Costs Subsequent to Acquisition Gross Amount Carried at [12] [13] Property Property Type City State Acquisition Encumbrances at December 31, 2020 Land Building and Land [11] Building and [11] Accumulated [14] [15] Township Marketplace (11) Multi-tenant Retail Monaca PA 2/16/2017 — (10) 8,146 39,267 — 285 47,698 4,211 Northwoods Marketplace (11) Multi-tenant Retail North Charleston SC 2/16/2017 — (10) 13,474 28,362 — 431 42,267 3,182 Centennial Plaza (11) Multi-tenant Retail Oklahoma City OK 2/16/2017 — (7) 3,488 30,054 — 64 33,606 3,221 Village at Quail Springs (11) Multi-tenant Retail Oklahoma City OK 2/16/2017 — (10) 2,307 9,983 — 2,210 14,500 1,581 Colonial Landing (16) (11) Multi-tenant Retail Orlando FL 2/16/2017 — (10) — 44,255 — 2,682 46,937 4,813 The Centrum (11) Multi-tenant Retail Pineville NC 2/16/2017 — — 12,013 26,242 — 1,441 39,696 3,221 Liberty Crossing (11) Multi-tenant Retail Rowlett TX 2/16/2017 — (10) 6,285 20,700 — 51 27,036 2,383 San Pedro Crossing (11) Multi-tenant Retail San Antonio TX 2/16/2017 — (7) 10,118 38,655 — 5,563 54,336 4,446 Prairie Towne Center (11) Multi-tenant Retail Schaumburg IL 2/16/2017 — (10) 11,070 19,528 — 6,191 36,789 5,609 Shops at Shelby Crossing (11) Multi-tenant Retail Sebring FL 2/16/2017 21,677 4,478 32,316 — 324 37,118 4,239 Stirling Slidell Centre (11) Multi-tenant Retail Slidell LA 2/16/2017 — — 3,495 18,113 (2,028) (11,262) 8,318 112 The Shops at West End (11) Multi-tenant Retail St. Louis Park MN 2/16/2017 — (10) 12,831 107,807 — 904 121,542 10,968 Bison Hollow (11) Multi-tenant Retail Traverse City MI 2/16/2017 — (10) 4,346 15,944 — — 20,290 1,723 Southroads Shopping Center (11) Multi-tenant Retail Tulsa OK 2/16/2017 — (10) 6,663 60,721 30 1,477 68,891 7,485 The Streets of West Chester (11) Multi-tenant R |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting | Basis of Accounting The accompanying consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). |
Principles of Consolidation and Basis of Presentation | Principles of ConsolidationThe accompanying consolidated financial statements include the accounts of the Company, the OP and its subsidiaries. All inter-company accounts and transactions are eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity (“VIE”) for which the Company is the primary beneficiary. The Company has determined the OP is a VIE of which the Company is the primary beneficiary. Substantially all of the Company’s assets and liabilities are held by the OP. The Company has determined the OP is a VIE of which the Company is the primary beneficiary. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, and fair value measurements, as applicable. |
Out-of-Period Adjustments | Out-of-Period AdjustmentsDuring the three months ended March 31, 2019, the Company identified certain historical errors in its accounting for its land leases (as lessee) which impacted the previously issued quarterly and annual financial statements. Specifically, the Company did not consider whether a penalty would be considered to exist for impairment of leasehold improvements when considering whether to include certain extension options in the lease term for accounting purposes. The land leases related to property acquired between 2013 and 2017. As of December 31, 2018, the cumulative impact of using the appropriate lease term in its straight line rent expense calculations for the operating leases was an understatement of rent expense and accrued rent liability of $0.9 million. The Company concluded that the errors noted above were not material to the current period or any historical periods presented and, accordingly, the Company adjusted the amounts on a cumulative basis in the first quarter of 2019. |
Revenue Recognition | Revenue Recognition The Company’s revenues, which are derived primarily from lease contracts, which include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. As of December 31, 2020, these leases had an average remaining lease term of approximately 8.8 years. Because many of the Company’s leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable for, and include in revenue from tenants, unbilled rents receivable that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. For new leases after acquisition, the commencement date is considered to be the date the tenant takes control of the space. For lease modifications, the commencement date is considered to be the date the lease modification is executed. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. Pursuant to certain of the Company’s lease agreements, tenants are required to reimburse the Company for certain property operating expenses, in addition to paying base rent, whereas under certain other lease agreements, the tenants are directly responsible for all operating costs of the respective properties. Under ASC 842, the Company elected to report combined lease and non-lease components in a single line “Revenue from tenants.” For comparative purposes, the Company also elected to reflect prior revenue and reimbursements reported under ASC 842 also on a single line. For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis. The following table presents future base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude tenant reimbursements and 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 Base Rent Payments 2021 $ 268,535 2022 259,400 2023 246,195 2024 228,959 2025 210,543 Thereafter 1,307,238 $ 2,520,870 The Company owns certain properties with leases that include provisions for the tenant to pay contingent rental income based on a percent of the tenant’s sales upon the achievement of certain sales thresholds or other targets which may be monthly, quarterly or annual targets. As the lessor to the aforementioned leases, the Company defers the recognition of contingent rental income, until the specified target that triggered the contingent rental income is achieved, or until such sales upon which percentage rent is based are known. For the year ended December 31, 2020, 2019 and 2018, approximately $1.1 million, $0.9 million and $0.9 million, respectively, in contingent rental income is included in revenue from tenants in the consolidated statements of operations and comprehensive loss. The Company continually reviews receivables related to rent and unbilled rents receivable and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Under the leasing standard adopted on January 1, 2019 (see the “Recently Issued Accounting Pronouncements” section below), the Company is required to assess, based on credit risk only, if it is probable that the Company will collect virtually all of the lease payments at lease commencement date and it must continue to reassess collectability periodically thereafter based on new facts and circumstances affecting the credit risk of the tenant. Partial reserves, or the ability to assume partial recovery are not permitted. If the Company determines that it’s probable it will collect virtually all of the lease payments (rent and common area maintenance), the lease will continue to be accounted for on an accrual basis (i.e. straight-line). However, if the Company determines it’s not probable that it will collect virtually all of the lease payments, the lease will be accounted for on a cash basis and a full reserve would be recorded on previously accrued amounts in cases where it was subsequently concluded that collection was not probable. Cost recoveries from tenants are included in operating revenue from tenants beginning on January 1, 2019, in accordance with new accounting rules, on the accompanying consolidated statements of operations and comprehensive income (loss) in the period the related costs are incurred, as applicable. In the second, third and fourth quarters of 2020, this assessment included consideration of the impacts of the COVID-19 pandemic on the ability of our tenants to pay rents in accordance with their contracts. The assessment included all of the Company’s tenants with a focus on the Company’s multi-tenant retail properties which have been more negatively impacted by the COVID-19 pandemic than the Company’s single-tenant properties. Under ASC 842, uncollectable amounts are reflected as reductions in revenue from tenants. Under ASC 840, the Company recorded such amounts as bad debt expense as part of property operating expenses. As a result of the review and assessment as described above and the impacts of the COVID-19 pandemic on certain of the Company’s tenants, the Company recorded a reduction in revenue from tenants of $6.6 million during the years ended December 31, 2020. During the years ended December 31, 2019 and 2018, such amounts were $2.9 million (recorded as a reduction of revenue from tenants) and $2.7 million (recorded as bad debt expense in property operating expenses), respectively. On April 1, 2019, the Company entered into a termination agreement with a tenant at one of its multi-tenant properties which required the tenant to pay the Company a termination fee of $8.0 million. The Company then entered into two leases, one of which was subsequently terminated in 2020 to replace the tenant (see Note 3 — Real Estate Investments, Net — Tenant Improvement Write-Off for further details regarding this termination). As a result of the April 2019 termination, the Company recorded termination income, net, of $7.6 million during the second quarter of 2019, which is included in revenue from tenants during the year ended December 31, 2019. |
Investments in Real Estate | Investments in Real Estate Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. At the time an asset is acquired, the Company evaluates the inputs, processes and outputs of the asset acquired to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statements of operations and comprehensive loss. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and subsequently amortized over the useful life of the acquired assets. See the Purchase Price Allocation section in this Note for a discussion of the initial accounting for investments in real estate. Disposal of real estate investments that represent a strategic shift in operations that will have a major effect on the Company's operations and financial results are required to be presented as discontinued operations in the consolidated statements of operations. No properties were presented as discontinued operations during the years ended December 31, 2020, 2019 or 2018. Properties that are intended to be sold are to be designated as “held for sale” on the consolidated balance sheets at the lesser of carrying amount or fair value less estimated selling costs when they meet specific criteria to be presented as held for sale, most significantly that the sale is probable within one year. The Company evaluates probability of sale based on specific facts including whether a sales agreement is in place and the buyer has made significant non-refundable deposits. Properties are no longer depreciated when they are classified as held for sale. As of December 31, 2020, the Company had no properties classified as held for sale, and, as of December 31, 2019, the Company had one property classified as held for sale (see Note 3 — Real Estate Investments, Net for additional information). As more fully discussed in this Note under Recently Issued Accounting Pronouncements - ASU No. 2016-02 Leases , all of the Company’s leases as lessor prior to adoption of the new leasing standard on January 1, 2019, were accounted for as operating leases and the Company continued to account for them as operating leases under the transition guidance. The Company evaluates new leases originated after the adoption date (by the Company or by a predecessor lessor/owner) pursuant to the new guidance where a lease for some or all of a building is classified by a lessor as a sales-type lease if the significant risks and rewards of ownership reside with the tenant. This situation is met if, among other things, there is an automatic transfer of title during the lease, a bargain purchase option, the non-cancelable lease term is for more than major part of remaining economic useful life of the asset (e.g., equal to or greater than 75%), if the present value of the minimum lease payments represents substantially all (e.g., equal to or greater than 90%) of the leased property’s fair value at lease inception, or if the asset so specialized in nature that it provides no alternative use to the lessor (and therefore would not provide any future value to the lessor) after the lease term. Further, such new leases would be evaluated to consider whether they would be failed sale-leaseback transactions and accounted for as financing transactions by the lessor. During the three-year period ended December 31, 2020, the Company had no leases as a lessor that would be considered as sales-type leases or financings under sale-leaseback rules. The Company is also the lessee under certain land leases which were previously classified prior to adoption of lease accounting and will continue to be classified as operating leases under transition elections unless subsequently modified. These leases are reflected on the balance sheet and the rent expense is reflected on a straight line basis over the lease term. |
Purchase Price Allocation | Purchase Price Allocation In both a business combination and an asset acquisition, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities based on their respective fair values. Tangible assets may include land, land improvements, buildings, fixtures and tenant improvements on an as if vacant basis. Intangible assets may include the value of in-place leases and above- and below- market leases and other identifiable assets or liabilities based on lease or property specific characteristics. In addition, any assumed mortgages receivable or payable and any assumed or issued non-controlling interests (in a business combination) are recorded at their estimated fair values. In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above or below-market interest rates. In a business combination, the difference between the purchase price and the fair value of identifiable net assets acquired is either recorded as goodwill or as a bargain purchase gain. In an asset acquisition, the difference between the acquisition price (including capitalized transaction costs) and the fair value of identifiable net assets acquired is allocated to the non-current assets. All acquisitions during the years ended December 31, 2020, 2019 and 2018 were asset acquisitions. For acquired properties with leases classified as operating leases, the Company allocates the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their respective fair values. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed. Tangible assets include land, land improvements, buildings, fixtures, and tenant improvements on an as-if vacant basis. The Company utilizes various estimates, processes and information to determine the as-if vacant property value. The Company estimates fair value using data from appraisals, comparable sales, discounted cash flow analysis and other methods. Fair value estimates are also made using significant assumptions such as capitalization rates, fair market lease rates, discount rates, and land values per square foot. Identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates and the value of in-place leases. Factors considered in the analysis of the in-place lease intangibles include an estimate of carrying costs during the expected lease-up period for each property, taking into account current market conditions and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at contract rates during the expected lease-up period, which typically ranges from six Above-market and below-market lease values for acquired properties are initially recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining initial term of the lease for above-market leases and the remaining initial term plus the term of any below-market fixed rate renewal options for below-market leases. The aggregate value of intangible assets related to customer relationship, as applicable, is measured based on the Company's evaluation of the specific characteristics of each tenant’s lease and the Company's overall relationship with the tenant. Characteristics considered by the Company in determining these values include the nature and extent of its existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals, among other factors. The Company did not record any intangible asset amounts related to customer relationships during the years ended December 31, 2020 and 2019. |
Gain on Sale/Exchange of Real Estate Investments | Gain on Sale/Exchange of Real Estate Investments Gains on sales of rental real estate are not considered sales to customers and are generally recognized pursuant to the provisions included in ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”). In accordance with ASC 845-10, Accounting for Non-Monetary Transactions, if a nonmonetary exchange has commercial substance, the cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain it, and a gain or loss shall be recognized on the exchange. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the property for impairment. This review is based on an estimate of the future undiscounted cash flows expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If an impairment exists, due to the inability to recover the carrying value of a property, the Company would recognize an impairment loss in the consolidated statement of operations and comprehensive loss to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss recorded would equal the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net earnings. |
Goodwill and Goodwill Impairment | Goodwill and Goodwill Impairment The Company had no goodwill recorded as of December 31, 2020 and 2019 and $1.6 million of goodwill recorded as of December 31, 2018. The Company is required to assess whether its goodwill is impaired, which requires the Company to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Company evaluates goodwill for impairment at least annually or when other market events or circumstances occur that might indicate that goodwill is impaired. The Company performed its annual assessment in December 2018 and determined that there was no impairment of goodwill. Given fluctuations in the market price of the Class A common stock, the Company performed a reassessment as of June 30, 2019, which included the assessment of relevant metrics such as estimated carrying and fair market value of the Company’s real estate and market-based factors. Based on these assessments, the Company determined that goodwill was impaired and recorded an impairment charge of $1.6 million for the year ended December 31, 2019. There was no goodwill impairment for the year ended December 31, 2020. |
Reportable Segments | Reportable SegmentThe Company has one reportable segment, income-producing properties, which consists of activities related to investing in real estate. |
Depreciation and Amortization | Depreciation and Amortization The Company is required to make subjective assessments as to the useful lives of the components of its real estate investments for purposes of determining the amount of depreciation to record on an annual basis. These assessments have a direct impact on the Company’s results from operations because if the Company were to shorten the expected useful lives of its real estate investments, the Company would depreciate these investments over fewer years, resulting in more depreciation expense and lower earnings on an annual basis. Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and improvements and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to expense over the remaining periods of the respective leases. The value of customer relationship intangibles, if any, is amortized to expense over the initial term of the lease and any renewal periods in the respective leases, but in no event does the amortization period for intangible assets exceed the remaining depreciable life of the building. If a tenant terminates its lease, the unamortized portion of the in-place lease value and customer relationship intangibles is charged to expense. Assumed mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining terms of the respective mortgages. |
Above and Below-Market Lease Amortization | Above and Below-Market Lease Amortization Capitalized above-market lease values are amortized as a reduction of revenue from tenants over the remaining terms of the respective leases and the capitalized below-market lease values are amortized as an increase to revenue from tenants over the remaining initial terms plus the terms of any below-market fixed rate renewal options of the respective leases. If a tenant with a below-market rent renewal does not renew, any remaining unamortized amount will be taken into income at that time. Capitalized above-market ground lease values are amortized as a reduction of property operating expense over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property operating expense over the remaining terms of the respective leases and expected below-market renewal option periods. |
Derivative Instruments | Derivative Instruments The Company may use derivative financial instruments to hedge all or a portion of the interest rate risk associated with its borrowings. Certain of the techniques used to hedge exposure to interest rate fluctuations may also be used to protect against declines in the market value of assets that result from general trends in debt markets. The principal objective of such agreements is to minimize the risks and costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designated and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any change in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the accompanying consolidated statements of operations and comprehensive loss. If the derivative is designated and qualifies for hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) to the extent that it is effective. Any ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. |
Non-controlling Interests | Non-controlling Interests The non-controlling interests represent the portion of the equity in the OP that is not owned by the Company. Non-controlling interests are presented as a separate component of equity on the consolidated balance sheets and presented as net loss attributable to non-controlling interests on the consolidated statements of operations and comprehensive loss. Non-controlling interests are allocated a share of net income or loss based on their share of equity ownership. Non-controlling interests resulted from the issuance of OP Units in conjunction with the merger (the “Merger”) with American Realty Capital-Retail Centers of America, Inc. (“RCA”) and were recognized at fair value as of the at the effective time of the Merger on February 16, 2017. In determining the fair value of the non-controlling interests, the Company utilized multiple sources including real estate valuations prepared by independent valuation firms and market sales data. In addition, under the multi-year outperformance agreement with the Advisor (the “2018 OPP”), the OP issued a new class of units of limited partnership designated as LTIP Units (“LTIP Units”), which are also reflected as part of non-controlling interest as of December 31, 2020 and 2019. Please see Note 8 — Stockholders’ Equity and Non-Controlling Interest and Note 12 — Equity-Based Compensation |
Cash and Cash Equivalents | Cash and Cash EquivalentsCash and cash equivalents include cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less and funds in overnight sweeps, in which excess funds over an established threshold are swept daily. The Company deposits cash with high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (the “FDIC”) up to an insurance limit. |
Note Receivable, net, and Related Income | Note Receivable, net, and Related Income Included in prepaid assets and other assets on the consolidated balance sheet as of December 31, 2020 is a note receivable, net, consisting of a loan the Company has established with an existing tenant to fund capital improvements at the applicable properties. The tenant may borrow up to $1.0 million, of which $0.2 million was drawn as of December 31, 2020. The note bears interest at a fixed rate of 8.5% and matures on December 31, 2025. Interest income on the note receivable is presented within other income on the consolidated statements of operations and comprehensive loss. |
Deferred Financing and Leasing Costs | Deferred Financing and Leasing Costs Deferred costs, net consists of debt issuance costs associated with the Credit Facility (as defined in Note 5 — Credit Facility ) and deferred leasing costs, net of accumulated amortization. Deferred financing costs relating to the mortgage notes payable (see Note 4 — Mortgage Notes Payable, Net ) are reflected net of the related financing on our balance sheet. Deferred financing costs associated with the Credit Facility and the mortgage notes payable represent commitment fees, legal fees, and other costs associated with obtaining commitments for financing. These costs are amortized as additional interest expense over the term of the financing agreement on a straight-line basis for the Credit Facility and using effective interest method over the expected term for the mortgage notes payable. Unamortized deferred financing costs are expensed when the associated debt is refinanced or paid down before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close. Deferred leasing costs consist primarily of lease commissions and payments made to execute new leases and are deferred and amortized over the term of the lease. |
Equity-Based Compensation | Equity-Based Compensation The Company has a stock-based plan under which its directors, officers and other employees of the Advisor or its affiliates who are involved in providing services to the Company are eligible to receive awards. Awards granted thereunder are accounted for under the guidance for employee share based payments. The cost of services received in exchange for these stock awards is measured at the grant date fair value of the award and the expense for such an award is included in equity-based compensation and is recognized in accordance with the service period (i.e., vesting) required or when the requirements for exercise of the award have been met. Effective at the listing of the Company’s Class A common stock, $0.01 par value per share (“Class A common stock”) on The Nasdaq Global Select Market (“Nasdaq”) on July 19, 2018 (the “Listing Date”), the Company entered into the 2018 OPP under which the LTIP Units were issued to the Advisor. These awards are market-based awards with a related required service period. In accordance with ASC 718, the LTIP Units were valued at their grant date and that value is reflected as a charge to earnings evenly over the service period. Further, in the event of a modification, any incremental increase in the value of the instrument measured on the date of the modification both before and after the modification, will result in an incremental amount to be reflected prospectively as a charge to earnings over the remaining service period. The expense for the LTIP Units is included in the equity-based compensation line item of the consolidated statements of operations. |
Income Taxes | Income Taxes The Company elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the taxable year ended December 31, 2013. The Company believes that, commencing with such taxable year, it has been organized and has operated in a manner so that it qualifies for taxation as a REIT under the Code. The Company intends to continue to operate in such a manner, but can provide no assurance that it will operate in a manner so as to remain qualified as a REIT. To continue to qualify for taxation as a REIT, the Company must distribute annually at least 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard for the deduction for dividends paid and excluding net capital gains, and must comply with a number of other organizational and operational requirements. If the Company continues to qualify for taxation as a REIT, it generally will not be subject to federal corporate income tax on the portion of its REIT taxable income that it distributes to its stockholders. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and properties, as well as federal income and excise taxes on its undistributed income. The amount of dividends payable to the Company’s stockholders is determined by the board of directors and is dependent on a number of factors, including funds available for distribution, financial condition, capital expenditure requirements, as |
Per Share Data | Per Share Data Basic net loss per share of common stock is calculated by dividing net loss by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net loss per share of common stock considers the effect of potentially dilutive instruments outstanding during such period. |
Recently Issued And Adopted Accounting Pronouncements | Recently Issued Accounting Pronouncements Adopted as of January 1, 2018: In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , and has since issued several additional amendments thereto (collectively referred to herein as “ASC 606”). ASC 606 establishes a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Under ASC 606, 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. ASC 606 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. A reporting entity may apply the amendments in ASC 606 using either a modified retrospective approach, by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or a full retrospective approach. The Company adopted this guidance effective January 1, 2018 using the modified retrospective approach, and it did not have an impact on the Company’s consolidated financial statements. The new guidance did not have an impact on the Company’s consolidated financial statements, primarily because the Company’s revenues are being sourced from lease arrangements that are outside the scope of ASC 606 until the new lease standard is adopted. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10) , that amends the recognition and measurement of financial instruments. The new guidance revises an entity’s accounting related to equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. Among other things, it also amends the presentation and disclosure requirements associated with the fair value of financial instruments. The Company adopted this guidance effective January 1, 2018 and there was no impact on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which provides guidance on how certain transactions should be classified and presented in the statement of cash flows as either operating, investing or financing activities. Among other things, the update provides specific guidance on where to classify debt prepayment and extinguishment costs, payments for contingent consideration made after a business combination and distributions received from equity method investments. The Company adopted the new guidance beginning in the first quarter of 2018, and it did not have a material impact on the Company’s consolidated statement of cash flows. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”) , which revises the definition of a business. This new guidance is applicable when evaluating whether an acquisition should be treated as either a business acquisition or an asset acquisition. Under the revised guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset or group of similar assets, the assets acquired would not be considered a business. The Company adopted this guidance effective January 1, 2018, and will apply the new rules prospectively. The Company expects, based on historical property acquisitions primarily being treated as asset acquisitions, that in most cases, a future property acquired after adoption will be treated as an asset acquisition rather than a business acquisition, which will result in the capitalization of related transaction costs. The Company has evaluated the impact of this new guidance beginning in the first quarter of 2018, and determined that it did not have a material impact on the Company’s consolidated financial statements. All acquisition costs incurred during the years ended December 31, 2020, 2019 and 2018 were capitalized since our acquisitions during the years were all classified as asset acquisitions. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Assets Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets , which provides guidance related to partial sales of non-financial assets, eliminates rules specifically addressing the sales of real estate, clarifies the definition of in substance non-financial assets, removes the exception to the financial asset derecognition model and clarifies the accounting for contributions of non-financial assets to joint ventures. The Company adopted this guidance effective January 1, 2018 using the modified transition method. Sales of real estate in which the Company loses its controlling interest in the real estate property will result in the full gain amount being recognized at the time of the partial sale. During the years ended December 31, 2020, 2019 or 2018 the Company did not retain any interest in properties in which it sold. In May 2017, the FASB issued ASU No. 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting , which clarifies which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The update states that modification accounting should be used unless the fair value of the award, the vesting terms of the award and the classification of the award as either equity or liability, all do not change as a result of the modification. The Company adopted this guidance effective January 1, 2018 and it did not have an impact on the Company’s consolidated financial statements. The Company expects that any future modifications to its issued share-based awards will be accounted for using modification accounting, unless the modification meets all of the exception criteria noted above. As a result, the modification would be treated as an exchange of the original award for a new award, with any incremental fair value being treated as additional compensation cost. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting as an amendment and update expanding the scope of Topic 718 (“ASU 2018-07”). ASU 2018-07 specifies that Topic 718 now applies to all share-based payment transactions, even non-employee awards, in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. Under the new guidance, awards to nonemployees are measured on the grant date, rather than on the earlier of the performance commitment date or the date at which the nonemployee’s performance is complete. Also, the awards would be measured by estimating the fair value of the equity instruments to be issued, rather than the fair value of the goods or services received or the fair value of the equity instruments issued, whichever can be measured more reliably. In addition, entities may use the expected term to measure nonemployee awards or elect to use the contractual term as the expected term, on an award-by-award basis. The new guidance was effective for the Company in annual periods beginning after December 15, 2018 and interim periods within those annual periods, however early adoption is permitted. The Company early adopted ASU 2018-07 on July 1, 2018 as it relates to the award made to the Advisor pursuant to the 2018 OPP (see Note 1 2 — Equity-Based Compensation for additional details). Adopted as of January 1, 2019: ASU No. 2016-02 — Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASC 842”), which provides guidance related to the accounting for leases, as well as the related disclosures. For lessors of real estate, leases are accounted for using an approach substantially the same as previous accounting guidance for operating leases and direct financing leases. For lessees, the standard requires the application of a dual lease classification approach, classifying leases as either operating or finance leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. Lease expense for operating leases is recognized on a straight-line basis over the term of the lease, while lease expense for finance leases is recognized based on an effective interest method over the term of the lease. Also, lessees must recognize a right-of-use asset (“ROU”) and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Further, certain transactions where at inception of the lease the buyer-lessor accounted for the transaction as a purchase of real estate and a new lease, may now be required to have symmetrical accounting to the seller-lessee if the transaction was not a qualified sale-leaseback and accounted for as a financing transaction. Upon adoption, lessors were allowed a practical expedient, which the Company has elected, by class of underlying assets to account for lease and non-lease components (such as tenant reimbursements of property operating expenses) as a single lease component as an operating lease because: (a) the non-lease components have the same timing and pattern of transfer as the associated lease component; and (b) the lease component, if accounted for separately, would be classified as an operating lease. Additionally, only incremental direct leasing costs may be capitalized under this guidance, which is consistent with the Company’s existing policies. Also, upon adoption, companies were allowed a practical expedient package, which the Company has elected, that allowed the Company: (a) to not reassess whether any expired or existing contracts entered into prior to January 1, 2019 are or contain leases; (b) to not reassess the lease classification for any expired or existing leases entered into prior to January 1, 2019 (including assessing sale-leaseback transactions); and (c) to not reassess initial direct costs for any expired or existing leases entered into prior to January 1, 2019. As a result, all of the Company’s existing leases at the time of adoption were classified as operating leases and will continue to be classified as operating leases for their duration, unless modified. Further, any existing leases for which the property is the leased to a tenant in a transaction that at inception was a sale-leaseback transaction will continue to be treated (absent a modification) as operating leases. The Company did not have any leases that would be considered financing leases as of January 1, 2019. The Company assessed the impact of adoption from both a lessor and lessee perspective, which is discussed in more detail below, and adopted the guidance prospectively on January 1, 2019, using a prospective transition approach under which the Company elected to apply the guidance effective January 1, 2019 and not adjust prior comparative reporting periods (except for the Company’s presentation of lease revenue discussed below). Lessor Accounting As discussed above, the Company was not required to re-assess the classification of its leases, which are considered operating leases under ASC 842. The following is a summary of the most significant impacts to the Company of the lease accounting guidance, as lessor: • Since the Company elected the practical expedient noted above to not separate non-lease component revenue from the associated lease component, the Company has aggregated revenue from its lease components and non-lease components (tenant operating expense reimbursements) into one line. The prior period has been conformed to this new presentation. • Changes in the Company’s assessment of receivables that result in bad debt expense is now required to be recorded as an adjustment to revenue, rather than a charge to bad debt expense. This new classification applies for the first quarter of 2019 and reclassification of prior period amounts is not permitted. At transition on January 1, 2019, after assessing its reserve balances at December 31, 2018 under the guidance, the Company wrote off accounts receivable of $0.1 million and straight-line rents receivable of $0.1 million as an adjustment to the opening balance of accumulated deficit, and accordingly rent for these tenants is currently recorded on a cash basis. • Indirect leasing costs in connection with new or extended tenant leases, if any, are being expensed. Under prior accounting guidance, the recognition would have been deferred. Lessee Accounting The Company is a lessee under ground leases for eight properties as of January 1, 2019. The following is a summary of the most significant impacts to the Company of the accounting guidance, as lessee: • Upon adoption of the standard, the Company recorded ROU assets and lease liabilities equal to $19.3 million for the present value of the lease payments related to its ground leases. These amounts are included in operating lease right-of-use assets and operating lease liabilities on the consolidated balance sheet. • The Company also reclassified $0.3 million related to amounts previously reported as a straight-line rent liability, $1.1 million, net related to amounts previously reported as above and below market ground lease intangibles and $0.1 million of prepaid rent to the ROU assets. For additional information and disclosures related to these operating leases, see Note 9 — Commitments and Contingencies. Other Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): S implifying the Test for Goodwill Impairment. This standard simplifies subsequent measurements of goodwill by eliminating Step 2 from the goodwill impairment test. Instead, entities will perform their interim or annual goodwill impairment testing by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge based on the amount that the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total goodwill allocated to the reporting unit. The Company adopted early this guidance in 2019 and in connection with the reassessments, goodwill was impaired during the year ended December 31, 2019. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , to better align cash flow and fair value hedge accounting with the corresponding risk management activities. Among other things, the amendments expand which hedging strategies are eligible for hedge accounting, align the timing of recognition of hedge results with the earnings effect of the hedged item and allow companies to include the change in fair value of the derivative in the same income statement line item as the earnings effect of the hedged item. Additionally, for cash flow hedges that are highly effective, the update allows for all changes in fair value of the derivative to be recorded in other comprehensive income. The Company has adopted ASU 2017-12 on January 1, 2019, as required under the guidance, using a modified retrospective transition method and the adoption on January 1, 2019 did not have a material impact on its consolidated financial statements. Adopted as of January 1, 2020: In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes how entities measure credit losses for financial assets carried at amortized cost. The update eliminates the requirement that a credit loss must be probable before it can be recognized and instead requires an entity to recognize the current estimate of all expected credit losses. Additionally, the amended standard requires credit losses on available-for-sale debt securities to be carried as an allowance rather than as a direct write-down of the asset. On July 25, 2018, the FASB proposed an amendment to ASU 2016-13 to clarify that operating lease receivables recorded by lessors (including unbilled straight-line rent) are explicitly excluded from the scope of ASU 2016-13. The new guidance is effective for the Company beginning on January 1, 2020. The Company adopted the new guidance on January 1, 2020 and determined it did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to the financial statements by removing, modifying, and adding certain fair value disclosure requirements to facilitate clear communication of the information required by generally accepted accounting principles. The amended guidance is effective for the Company beginning on January 1, 2020. The Company adopted the new guidance on January 1, 2020 and determined it did not have a material impact on its consolidated financial statements. Pending Adoption as of December 31, 2020: In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Topic 470) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Topic 815) . The new standard reduces the number of accounting models for convertible debt instruments and convertible preferred stock, and amends the guidance for the derivatives scope exception for contracts in an entity's own equity. The standard also amends and makes targeted improvements to the related earnings per share guidance. The new standard is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The standard allows for either modified or full retrospective transition methods. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . Topic 848 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in Topic 848 is optional and may be elected over the period March 12, 2020 through December 31, 2022 as reference rate reform activities occur. During the year ended December 31, 2020, the Company elected to apply the hedge accounting expedients related to (i) the assertion that our hedged forecasted transactions remain probable and (ii) the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of our derivatives, which will be consistent with our past presentation. The Company will continue to evaluate the impact of the guidance and may apply other elections, as applicable, as additional changes in the market occur. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Lessor, Operating Lease, Payments to be Received, Maturity | The following table presents future base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude tenant reimbursements and 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 Base Rent Payments 2021 $ 268,535 2022 259,400 2023 246,195 2024 228,959 2025 210,543 Thereafter 1,307,238 $ 2,520,870 |
Real Estate Investments (Tables
Real Estate Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Real Estate Investments, Net [Abstract] | |
Purchase Price of Acquired Properties | The following table presents the allocation of assets acquired and liabilities assumed during the years ended December 31, 2020, 2019 and 2018. All acquisitions in 2020, 2019 and 2018 were considered asset acquisitions for accounting purposes. Year Ended December 31, (Dollars in thousands) 2020 2019 2018 Real estate investments, at cost: Land $ 41,517 $ 76,610 $ 61,745 Buildings, fixtures and improvements 153,048 288,549 140,151 Total tangible assets 194,565 365,159 201,896 Acquired intangible assets and liabilities: [1] In-place leases 27,873 66,787 39,978 Above-market lease assets 1,786 1,973 1,055 Below-market lease liabilities (3,812) (4,980) (1,157) Total intangible assets, net 25,847 63,780 39,876 Consideration paid for acquired real estate investments, net of liabilities assumed $ 220,412 $ 428,939 $ 241,772 Number of properties purchased 107 218 130 __________ [1] Weighted-average remaining amortization periods for in-place leases, above-market lease assets, below-market ground lease asset, and below-market lease liabilities acquired during the year ended December 31, 2020 were 14.8 years, 15.7 years, and 23.5 years, respectively, as of each property’s respective acquisition date. |
Schedule of Intangible Assets and Goodwill | Total acquired intangible lease assets and liabilities consist of the following as of the dates presented: December 31, 2020 December 31, 2019 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets: In-place lease assets $ 430,610 $ 176,011 $ 254,599 $ 424,509 $ 151,474 $ 273,035 Above-market lease assets 23,635 9,129 14,506 23,666 8,152 15,514 Total acquired intangible lease assets $ 454,245 $ 185,140 $ 269,105 $ 448,175 $ 159,626 $ 288,549 Intangible liabilities: Below-market lease liabilities $ 104,758 $ 26,084 $ 78,674 $ 106,435 $ 22,394 $ 84,041 Total acquired intangible lease liabilities $ 104,758 $ 26,084 $ 78,674 $ 106,435 $ 22,394 $ 84,041 |
Finite-lived Intangible Assets Amortization Expense | The following table presents amortization expenses and adjustments to revenue from tenants and property operating expenses for intangible assets and liabilities for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, (In thousands) 2020 2019 2018 In-place leases, included in depreciation and amortization $ 46,496 $ 44,795 $ 54,439 Above-market lease intangibles $ (2,794) $ (3,375) $ (4,441) Below-market lease liabilities 8,994 10,796 19,989 Total included in revenue from tenants $ 6,200 $ 7,421 $ 15,548 Below-market ground lease asset [1] $ 32 $ 32 $ 32 Above-market ground lease liability [1] (1) (2) (2) Total included in property operating expenses $ 31 $ 30 $ 30 [1] Upon adoption of ASC 842 effective January 1, 2019, intangible balances related to ground leases were reclassified to be included as part of the Operating lease right-of-use assets presented on the Company’s consolidated balance sheet with no change to placement of the amortization expense of such balances included in property operating expenses on the Company’s consolidated statements of operations and comprehensive loss. See Note 2 — Summary of Significant Accounting Polices - Recently Issued Accounting Pronouncements |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table provides the projected amortization expenses and adjustments to revenue from tenants for intangible assets and liabilities for the next five years: Year Ended December 31, (In thousands) 2021 2022 2023 2024 2025 In-place leases, to be included in depreciation and amortization $ 36,462 $ 32,665 $ 30,385 $ 27,666 $ 24,376 Above-market lease intangibles $ 2,361 $ 2,003 $ 1,755 $ 1,617 $ 1,204 Below-market lease liabilities (6,359) (6,014) (5,854) (5,643) (5,425) Total to be included in revenue from tenants $ (3,998) $ (4,011) $ (4,099) $ (4,026) $ (4,221) |
Summary of Assets Held-for-Sale | The following table details the major classes of assets associated with the properties that have been reclassified as held for sale as of December 31, 2020 and 2019: (In thousands) December 31, 2019 Real estate investments held for sale, at cost: Land $ 563 Buildings, fixtures and improvements 750 Total real estate assets held for sale, at cost 1,313 Less accumulated depreciation and amortization (137) Total real estate investments held for sale, net 1,176 Assets held for sale $ 1,176 |
Mortgage Notes Payable (Tables)
Mortgage Notes Payable (Tables) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Disclosure [Abstract] | ||
Schedule of Long-term Debt Instruments | The Company’s mortgage notes payable, net as of December 31, 2020 and 2019 consisted of the following: Outstanding Loan Amount as of Effective Interest Rate as of December 31, December 31, Portfolio Encumbered Properties 2020 2019 2020 Interest Rate Maturity Anticipated Repayment (In thousands) (In thousands) Class A-1 Net Lease Mortgage Notes 95 $ 119,084 $ 120,294 3.83 % Fixed May 2049 May 2026 Class A-2 Net Lease Mortgage Notes 106 121,000 121,000 4.52 % Fixed May 2049 May 2029 Total Net Lease Mortgage Notes 201 240,084 241,294 SAAB Sensis I 1 $ 6,217 $ 6,660 5.93 % Fixed Apr. 2025 Apr. 2025 Truist Bank II 15 9,560 10,860 5.50 % Fixed Jul. 2031 Jul. 2021 Truist Bank III 76 60,952 62,228 5.50 % Fixed Jul. 2031 Jul. 2021 Truist Bank IV 10 3,792 6,626 5.50 % Fixed Jul. 2031 Jul. 2021 Sanofi US I [8] 1 125,000 125,000 3.26 % Fixed [9] Sep. 2025 Sep. 2025 Stop & Shop [1] 4 45,000 45,000 3.49 % Fixed Jan. 2030 Jan. 2030 Mortgage Loan I [2] [7] — — 497,150 — % n/a n/a n/a Column Financial Mortgage Notes 368 715,000 — 3.79 % Fixed Aug. 2025 Aug. 2025 Shops at Shelby Crossing 1 21,677 22,139 4.97 % Fixed Mar. 2024 Mar. 2024 Patton Creek [10] 1 34,000 39,147 4.82 % Variable Dec. 2021 Dec. 2021 Bob Evans I 23 23,950 23,950 4.71 % Fixed Sep. 2037 Sep. 2027 Mortgage Loan II 12 210,000 210,000 4.25 % Fixed Jan. 2028 Jan. 2028 Mortgage Loan III 22 33,400 33,400 4.12 % Fixed Jan. 2028 Jan. 2028 Gross mortgage notes payable 735 1,528,632 1,323,454 4.02 % (4) Deferred financing costs, net of accumulated amortization [5] (38,760) (15,564) Mortgage premiums and discounts, net [6] 926 3,053 Mortgage notes payable, net $ 1,490,798 $ 1,310,943 __________ [1] The prior Stop & Shop loan was refinanced on December 19, 2019 with a new loan (see Stop & Shop Loan section below). In connection with the prior loan, the Company paid prepayment penalties of approximately $2.0 million, which are included in the acquisition, transaction and other costs on the consolidated statement of operations and comprehensive (loss) income. [2] In connection with repayment a portion of this mortgage note, the Company paid prepayment penalties of $1.6 million in the second quarter of 2019, which are included in the acquisition, transaction and other costs on the consolidated statement of operations and comprehensive (loss) income. [3] This loan was repaid in connection with the issuance of the Net Lease Mortgage Notes (see definition below) in the second quarter of 2019 and all 39 properties, which were previously encumbered under Mortgage Loan IV were added to the collateral pool for the Net Lease Mortgage Notes. As a result of repaying the loan, remaining unamortized deferred financing costs of $0.8 million were written off, which is included in interest expense in the consolidated statement of operations. Also, the “pay-fixed” interest rate swap agreements related to Mortgage Loan IV were terminated upon repayment (see Note 7 — Derivatives and Hedging Activities ), which is included in interest expense in the consolidated statement of operations. [4] Calculated on a weighted-average basis for all mortgages outstanding as of December 31, 2020. [5] Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining financing. These costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close. [6] Mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining terms of the respective mortgages. [7] On July 24, 2020, this mortgage loan was repaid prior to its maturity with a portion of the proceeds from a $715 million loan secured by 368 properties (see “Loan Agreement With Column Financial” section below for additional information). [8] On September 4, 2020 this mortgage loan was refinanced (see “New Sanofi Loan Agreement” section below). [9] Mortgage is fixed by an interest rate swap agreement (see “New Sanofi Loan Agreement” section below). [10] On December 1, 2020, this mortgage loan was refinanced (see “New Patton Creek Loan Agreement” section below). | |
Schedule of Maturities of Long-term Debt | The following table summarizes the scheduled aggregate principal payments on mortgage notes payable based on anticipated repayment dates for the five years subsequent to December 31, 2020 and thereafter: (In thousands) Future Principal Payments 2021 $ 110,471 2022 2,311 2023 2,643 2024 22,287 2025 845,771 Thereafter 545,149 $ 1,528,632 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the accompanying consolidated balance sheets as of December 31, 2020. The Company did not have any derivative instruments outstanding as of December 31, 2019 due to the termination of its interest rate swaps after the repayment of certain mortgages during the third quarter of 2019 (see Note 4 — Mortgage Notes Payable, Net for additional information). (In thousands) Balance Sheet Location December 31, 2020 Derivatives designated as hedging instruments: Interest Rate “Pay-fixed” Swaps Derivative liabilities, at fair value $ 123 |
Schedule of Interest Rate Derivatives | As of December 31, 2020 the Company had the following derivatives that were designated as cash flow hedges of interest rate risk: December 31, 2020 Interest Rate Derivative Number of Notional Amount (In thousands) Interest Rate “Pay-fixed” Swaps 1 $ 125,000 As of December 31, 2020 the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships. December 31, 2020 Interest Rate Derivative Number of Notional Amount (In thousands) Interest Rate Cap 1 $ 34,000 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the years ended December 31, 2020, 2019 and 2018, respectively: Year Ended December 31, (In thousands) 2020 2019 2018 Amount of loss recognized in AOCI on interest rate derivatives [1] $ (174) $ (979) $ (670) Amount of loss reclassified from AOCI into income as interest expense $ (51) $ (36) $ (125) Amount of gain recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) $ — $ — $ 81 Total interest expense recorded in the consolidated statement of operations and comprehensive loss $ 78,467 $ 77,994 $ 66,789 __________ [1] Excludes a loss of $1.5 million in the Company’s consolidated statements of operations for the year ended December 31, 2019 recorded upon termination of its interest rate swaps after the repayment of certain mortgages (see Note 4 — Mortgage Notes Payable, Net for additional information). |
Offsetting Liabilities | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2020. The Company did not have any derivatives outstanding as of December 31, 2019. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheets. Gross Amounts Not Offset on the Balance Sheet (In thousands) Gross Amounts of Recognized Assets Gross Amounts of Recognized (Liabilities) Gross Amounts Offset on the Balance Sheet Net Amounts of Assets (Liabilities) Presented on the Balance Sheet Financial Instruments Cash Collateral Received (Posted) Net Amount December 31, 2020 $ — $ 123 $ — $ 123 $ — $ — $ 123 |
Offsetting Assets | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2020. The Company did not have any derivatives outstanding as of December 31, 2019. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheets. Gross Amounts Not Offset on the Balance Sheet (In thousands) Gross Amounts of Recognized Assets Gross Amounts of Recognized (Liabilities) Gross Amounts Offset on the Balance Sheet Net Amounts of Assets (Liabilities) Presented on the Balance Sheet Financial Instruments Cash Collateral Received (Posted) Net Amount December 31, 2020 $ — $ 123 $ — $ 123 $ — $ — $ 123 |
Stockholders_ Equity and Non-_2
Stockholders’ Equity and Non-Controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Schedule of Stock by Class | The table below provides details of the Company’s outstanding shares of common stock as of June 30, 2018 (prior to the Listing) and December 31, 2018: June 30, 2018 (prior to the Listing) As of December 31, 2018 Shares Outstanding Class A Common Stock Class B-2 Common Stock Shares Outstanding Shares of common stock [1] 105,049,705 78,749,079 26,262,477 105,011,556 Vesting and conversion of Class B Units [2] [3] — 1,052,420 — 1,052,420 Redemption of Class A Units (formerly known as OP Units) [3] [4] — 30,691 — 30,691 Unvested restricted shares [5] 9,088 134,025 2,209 136,234 Total 105,058,793 79,966,215 26,264,686 106,230,901 __________ [1] See “Corporate Actions” above for a description of the reverse stock split and classification of shares as Class A common stock, Class B-1 common stock and Class B-2 common stock. Fractional shares of Class A common stock totaling 18,460 were repurchased by the Company as a result of the reverse stock split. In accordance with their terms, all shares of Class B-1 common stock automatically converted into shares of Class A common stock and were listed on Nasdaq on October 10, 2018. As a result of this conversion, on October 10, 2018, all fractional shares of Class B-1 common stock totaling approximately 19,945 shares were repurchased by the Company. Amount at June 30, 2018 included 8,888 shares of common stock owned by American Finance Special Limited Partner, LLC (the “Special Limited Partner”). During the second half of 2018, 4,444 shares of Class A common stock owned by the Special Limited Partner were distributed to individual members of the entity and, as a result, the Special Limited Partner owned 2,222 shares of Class A common stock and 2,222 shares of Class B-2 common stock as of December 31, 2018. [2] The performance-based restricted, forfeitable partnership units of the OP designated as “Class B Units” (“Class B Units”) vested and were converted into an equal number of units of limited partnership designated as “Class A Units” (“Class A Units”). In addition, effective at the Listing following this conversion and as approved by the Company’s board of directors, these Class A Units were redeemed for an equal number of newly issued shares of Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP (see Note 10 — Related Party Transactions and Arrangements for additional information). [3] Following the Listing, all of the shares of Class A common stock, Class B-1 common stock and Class B-2 common stock owned by the Advisor and its affiliates (including the Special Limited Partner) were distributed pro rata to the individual members of those entities, including Edward M. Weil, Jr., the Company’s chairman and chief executive officer. [4] Pursuant to the redemption provisions contained in the agreement of limited partnership of the OP, holders of Class A Units may redeem all or a portion of their Class A Units for, at the Company’s election, either shares of Class A common stock or the cash equivalent thereof. 203,612 Class A Units were eligible for redemption after the Listing. On July 20, 2018, 30,691 Class A Units held by the Special Limited Partner and another affiliate of the Advisor were redeemed for an equal number of newly issued shares of Class A common stock consistent with the redemption provisions contained in the agreement of limited partnership of the OP. [5] Fractional unvested restricted shares of common stock (“restricted shares”) held by the Company’s independent directors totaled approximately seven, and these fractional shares were forfeited in connection with the reverse stock split effected prior to the Listing. Also, during the three months ended September 30, 2018, the Company issued 127,402 restricted shares in the aggregate to members of the Company’s board of directors (see Note 12 — Equity-Based Compensation |
Schedule of Share Repurchases | The following table summarizes the repurchases of shares under the SRP cumulatively through the SRP termination date of June 30, 2018: Number of Shares Weighted-Average Price per Share Cumulative repurchases as of December 31, 2014 303,907 $ 24.01 Year ended December 31, 2015 1,769,738 24.13 Year ended December 31, 2016 7,854 24.17 Year ended December 31, 2017 1,225,365 [1] 23.71 Year ended December 31, 2018 412,939 [2] 23.37 Cumulative repurchases as of December 31, 2018 3,719,803 23.90 _________ [1] Excludes rejected repurchase requests received during 2016 with respect to 5.9 million shares for $140.1 million at a weighted-average price per share of $23.65. Also, in July 2017, following the effectiveness of an amendment and restatement of the SRP pursuant to which only repurchase requests made following the death or qualifying disability of a stockholder were eligible for repurchase, the Company’s board of directors approved 100% of the repurchase requests made following the death or qualifying disability of stockholders during the period from January 1, 2017 to December 31, 2017. No repurchases were made with respect to requests received during 2017 that are not valid requests in accordance with the amended and restated SRP. At the time the SRP was terminated in anticipation of the Listing, effective June 30, 2018, we had received repurchase requests made following the death or qualifying disability of stockholders during the period from January 1, 2018 to June 30, 2018 with respect to 0.6 million shares that were therefore not repurchased. [2] During January 2018, the Company repurchased 412,939 shares for approximately $9.7 million at a price of $23.37 per share equal to the then current Estimated Per-Share NAV. |
Summary of Distributions | The following table details from a tax perspective, the portion of common stock dividends classified as return of capital and ordinary dividend income for tax purposes, per share per annum, for the years ended December 31, 2020, 2019 and 2018. All dividends paid on the Series A Preferred Stock were considered 100% ordinary dividend income for tax purposes. As previously discussed, no dividends were paid on the Series C Preferred Stock during the year ended December 31, 2020. The first such dividend will be paid in 2021. Year Ended December 31, 2020 2019 2018 Return of capital 90.3 % $ 0.63 90.2 % $ 0.99 93.2 % $ 1.03 Ordinary dividend income 9.7 % 0.07 9.8 % 0.11 6.8 % 0.07 Total 100.0 % $ 0.70 100.0 % $ 1.10 100.0 % $ 1.10 |
Schedule of Non-Controlling Interest | As of December 31, 2020 and 2019, non-controlling interest is comprised of the following components: December 31, (In thousands) 2020 2019 Non-controlling interest attributable to LTIP Units $ 28,317 $ 16,461 Non-controlling interest attributable to Class A Units 2,205 2,438 Total non-controlling interest $ 30,522 $ 18,899 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Master Leases | The following table reflects the base cash rental payments due from the Company as of December 31, 2020: (In thousands) Future Base Rent Payments 2021 $ 1,515 2022 1,532 2023 1,549 2024 1,560 2025 1,598 Thereafter 44,358 Total lease payments 52,112 Less: Effects of discounting (32,875) Total present value of lease payments $ 19,237 |
Related Party Transactions an_2
Related Party Transactions and Arrangements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services | The following table details amounts incurred and payable to related parties in connection with the operations-related services described above as of and for the periods presented. Amounts below are inclusive of fees and other expense reimbursements incurred from and due to the Advisor that are passed through and ultimately paid to Lincoln as a result of the Advisor’s arrangements with Lincoln: Year Ended December 31, Payable (Receivable) as of December 31, (In thousands) 2020 2019 2018 2020 2019 One-time fees and reimbursements: Acquisition related cost reimbursements [1] $ 201 $ 241 $ 318 $ 96 $ 53 Vesting and conversion of Class B Units — — 15,786 — — Ongoing fees: Asset management fees to related party 27,829 25,695 23,143 177 9 Property management and leasing fees [2] 6,604 9,921 9,620 — 1,153 Professional fees and other reimbursements [3] 10,539 9,732 9,314 (77) (565) [4] Distributions on Class B Units [3] [5] — — 736 — — Professional fee credit due from Advisor and its affiliates [6] (1,862) — — (1,862) [6] — Total related party operation fees and reimbursements $ 43,311 $ 45,589 $ 58,917 $ (1,666) $ 650 __________ [1] Amounts included in acquisition and transaction related expenses in the consolidated statements of operations and comprehensive loss. [2] Amounts included in property operating expenses in the consolidated statements of operations and comprehensive loss. [3] Amounts included in general and administrative expense in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company recorded a reduction of general and administrative expenses in the amount of $0.8 million related to the reversal of a payable balance at December 31, 2018 due to American National Stock Transfer, LLC, a subsidiary of RCS Capital Corporation (“RCAP”), which at the time the payable balance was recorded and prior to its bankruptcy filing was under common control with the Advisor. RCAP was also the parent company of Realty Capital Securities, LLC, the dealer manager in the Company’s initial public offering. [4] Balance included a receivable of $0.7 million from the Advisor as of December 31, 2019 previously recorded in the fourth quarter of 2018, which, pursuant to authorization by the independent members of the Company’s board of directors, was payable over time during 2020 and had been fully repaid as of December 31, 2020. [5] Subsequent to the Listing the Class B Units were fully vested and converted to Class A Units, which were then redeemed for shares of Class A common stock. Distributions with respect to shares of Class A common stock are treated as equity distributions whereas distributions with respect to Class B Units were treated as additional compensation and expensed. |
Equity-Based Compensation (Tabl
Equity-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Share-based Compensation, Activity | The following table reflects the number of restricted shares granted, vested, or forfeited for the years ended December 31, 2020, 2019 and 2018: Number of Shares of Common Stock Weighted-Average Issue Price Unvested, December 31, 2017 15,708 $ 23.67 Granted 127,402 16.01 Vested (6,869) 23.58 Forfeited (7) — Unvested, December 31, 2018 136,234 16.51 Granted 34,588 9.83 Vested (59,401) 16.36 Forfeited — — Unvested, December 31, 2019 111,421 14.52 Granted 361,943 6.80 Vested (72,492) 14.13 Forfeited — — Unvested, December 31, 2020 400,872 7.62 |
Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest | Half of the LTIP Units (the “Absolute TSR LTIP Units”) are eligible to be earned as of the last day of the Performance Period (the “Valuation Date”) if the Company achieves an absolute total stockholder return (“TSR”) for the Performance Period as follows: Performance Level Absolute TSR Percentage of LTIP Units Earned Below Threshold Less than 24 % — % Threshold 24 % 25 % Target 30 % 50 % Maximum 36 % or higher 100 % Half of the LTIP Units (the “Relative TSR LTIP Units”) are eligible to be earned as of the Valuation Date if the amount, expressed in terms of basis points, whether positive or negative, by which the Company’s absolute TSR for the Performance Period exceeds the average TSR of a peer group for the Performance Period consisting of Colony Capital, Inc., Lexington Realty Trust, RPT Realty (formerly known as Ramco-Gershenson Properties Trust), Spirit Realty Capital, Inc. and Office Properties Income Trust as follows: Performance Level Relative TSR Excess Percentage of Relative TSR LTIP Units Earned Below Threshold Less than -600 basis points — % Threshold -600 basis points 25 % Target — basis points 50 % Maximum +600 basis points 100 % |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the basic and diluted net loss per share computations for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 Net loss attributable to common stockholders — Basic and Diluted $ (46,650) $ (3,101) $ (37,409) Weighted average shares outstanding — Basic and Diluted 108,404,093 106,397,296 105,560,053 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.43) $ (0.03) $ (0.35) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The Company had the following restricted shares, Class A Units, Class B Units and LTIP Units on a weighted-average basis that were excluded from the calculation of diluted net loss per share as their effect would have been antidilutive for the periods presented: December 31, 2020 2019 2018 Unvested restricted shares [1] 199,325 128,959 52,847 Class A Units [2] 172,921 172,921 189,737 Class B Units [3] — — 573,785 LTIP Units [4] 4,496,796 4,496,796 1,515,359 Total 4,869,042 4,798,676 2,331,728 __________ [1] Weighted-average number of shares of unvested restricted shares outstanding for the periods presented. There were 400,872, 111,421 and 136,234 unvested restricted shares outstanding as of December 31, 2020, 2019 and 2018, respectively. [2] Weighted-average number of Class A Units outstanding for the periods presented. There were 172,921 Class A Units outstanding as of December 31, 2020, 2019 and 2018. [3] Weighted-average number of Class B Units outstanding for the period presented. There were no Class B Units outstanding as of December 31, 2020, 2019 and 2018. |
Quarterly Results (Unaudited) (
Quarterly Results (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2020 and 2019: Quarter Ended (In thousands, except share and per share amounts) March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Revenue from tenants $ 74,564 $ 74,934 $ 78,489 $ 77,237 Net loss attributable to common stockholders $ (9,153) $ (21,803) $ (7,091) $ (8,603) Weighted-average shares outstanding — Basic 108,364,082 108,386,013 108,429,315 108,436,329 Weighted-average shares outstanding — Diluted 108,364,082 108,386,013 108,429,315 108,436,329 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.08) $ (0.20) $ (0.07) $ (0.08) Quarter Ended (In thousands, except share and per share amounts) March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Revenue from tenants $ 71,541 $ 79,109 $ 72,863 $ 76,231 Net (loss) income attributable to common stockholders (3,227) 7,884 (2,931) $ (4,827) Weighted-average shares outstanding — Basic 106,076,588 106,075,741 106,139,668 107,286,620 Weighted-average shares outstanding — Diluted 106,076,588 106,394,277 106,139,668 107,286,620 Net loss per share attributable to common stockholders — Basic and Diluted $ (0.03) $ 0.07 $ (0.03) $ (0.04) |
Organization (Details)
Organization (Details) ft² in Millions | Dec. 31, 2020ft²property |
Operations [Line Items] | |
Number of real estate properties | 920 |
Area of real estate property | ft² | 19.3 |
Percentage of properties leased | 93.90% |
Net Leased Commercial Properties | |
Operations [Line Items] | |
Number of real estate properties | 887 |
Net Leased Retail Properties | |
Operations [Line Items] | |
Number of real estate properties | 849 |
Stabilized Core Retail Properties | |
Operations [Line Items] | |
Number of real estate properties | 33 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Narrative) (Details) | Jul. 24, 2020USD ($) | Mar. 30, 2020USD ($) | Apr. 01, 2019USD ($) | Dec. 31, 2020USD ($)property | Apr. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2020USD ($)segmentproperty | Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($) |
Class of Stock [Line Items] | |||||||||||
Proceeds from credit facility | $ 205,000,000 | $ 233,000,000 | $ 324,700,000 | ||||||||
Dividends, increase (decrease) in required cash for funding | $ 27,200,000 | ||||||||||
Repayments of credit facility | $ 257,291,000 | 224,553,000 | 95,000,000 | ||||||||
Prior period reclassification adjustment | $ 900,000 | 900,000 | |||||||||
Weighted average remaining lease term | 8 years 9 months 18 days | 8 years 9 months 18 days | |||||||||
Contingent rental income | $ 1,100,000 | 900,000 | 900,000 | ||||||||
Bad debt expense | $ 6,600,000 | 2,900,000 | 2,700,000 | ||||||||
Lease termination fee income | $ 8,000,000 | ||||||||||
Lease termination fee income, net | $ 7,600,000 | ||||||||||
Number of real estate properties | property | 920 | 920 | |||||||||
Goodwill | $ 0 | $ 0 | 0 | 1,600,000 | |||||||
Goodwill impairment | $ 0 | 1,605,000 | 0 | ||||||||
Number of reportable segments | segment | 1 | ||||||||||
Cash and cash equivalents | 102,860,000 | $ 102,860,000 | 81,898,000 | 91,451,000 | |||||||
Cash in excess of FDIC limit | 101,100,000 | 101,100,000 | 80,000,000 | ||||||||
Notes receivable, maximum borrowing amount | 1,000,000 | ||||||||||
Financing receivable, net | 200,000 | $ 200,000 | |||||||||
Note receivable, interest rate, stated percentage | 8.50% | ||||||||||
Operating lease right-of-use assets | 18,546,000 | $ 18,546,000 | 18,959,000 | ||||||||
Operating lease liabilities | 19,237,000 | $ 19,237,000 | $ 19,318,000 | ||||||||
Revolving Credit Facility | New Credit Facility | |||||||||||
Class of Stock [Line Items] | |||||||||||
Proceeds from credit facility | $ 20,000,000 | $ 170,000,000 | |||||||||
Repayments of credit facility | $ 197,000,000 | $ 25,000,000 | |||||||||
Revision of Prior Period, Adjustment | |||||||||||
Class of Stock [Line Items] | |||||||||||
Accounts receivable write-offs | 100,000 | ||||||||||
Straight-line rent receivable write-offs | 100,000 | ||||||||||
Operating lease right-of-use assets | 19,300,000 | ||||||||||
Operating lease liabilities | 19,300,000 | ||||||||||
Straight-line rent liability | 300,000 | ||||||||||
Prepaid rent | 100,000 | ||||||||||
Above Market and Below Market Leases | Revision of Prior Period, Adjustment | |||||||||||
Class of Stock [Line Items] | |||||||||||
Lease intangibles | $ 1,100,000 | ||||||||||
Impaired real estate investments held for sale | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of real estate properties | property | 0 | 0 | 1 | ||||||||
Minimum | |||||||||||
Class of Stock [Line Items] | |||||||||||
Lease-up period | 6 months | ||||||||||
Maximum | |||||||||||
Class of Stock [Line Items] | |||||||||||
Lease-up period | 24 months | ||||||||||
Buildings | |||||||||||
Class of Stock [Line Items] | |||||||||||
Estimated useful life | 40 years | ||||||||||
Land Improvements | |||||||||||
Class of Stock [Line Items] | |||||||||||
Estimated useful life | 15 years | ||||||||||
Fixtures and Improvements | |||||||||||
Class of Stock [Line Items] | |||||||||||
Estimated useful life | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Future Base Rent Payments (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Accounting Policies [Abstract] | |
2021 | $ 268,535 |
2022 | 259,400 |
2023 | 246,195 |
2024 | 228,959 |
2025 | 210,543 |
Thereafter | 1,307,238 |
Total | $ 2,520,870 |
Real Estate Investments (Schedu
Real Estate Investments (Schedule of Assets Acquired and Liabilities Assumed) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($)property | |
Real estate investments, at cost: | |||
Land | $ 41,517 | $ 76,610 | $ 61,745 |
Buildings, fixtures and improvements | 153,048 | 288,549 | 140,151 |
Total tangible assets | 194,565 | 365,159 | 201,896 |
Acquired intangible assets and liabilities | |||
Acquired intangibles | 25,847 | 63,780 | 39,876 |
Below-market lease liabilities | (3,812) | (4,980) | (1,157) |
Consideration paid for acquired real estate investments, net of liabilities assumed | $ 220,412 | $ 428,939 | $ 241,772 |
Number of properties purchased | property | 107 | 218 | 130 |
In-place leases | |||
Acquired intangible assets and liabilities | |||
Acquired intangibles | $ 27,873 | $ 66,787 | $ 39,978 |
Weighted-average amortization period | 14 years 9 months 18 days | ||
Above-market lease assets | |||
Acquired intangible assets and liabilities | |||
Acquired intangibles | $ 1,786 | $ 1,973 | $ 1,055 |
Weighted-average amortization period | 15 years 8 months 12 days | ||
Below-market lease liabilities | |||
Acquired intangible assets and liabilities | |||
Weighted-average amortization period | 23 years 6 months |
Real Estate Investments (Acquir
Real Estate Investments (Acquired Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | $ 454,245 | $ 448,175 |
Finite-lived intangible assets, accumulated amortization | 185,140 | 159,626 |
Intangible assets, net | 269,105 | 288,549 |
Below market lease, gross | 104,758 | 106,435 |
Below market lease, accumulated amortization | 26,084 | 22,394 |
Below market lease, net | 78,674 | 84,041 |
Finite-lived intangible liabilities, gross | 104,758 | 106,435 |
Finite-lived intangible liabilities, accumulated amortization | 26,084 | 22,394 |
Intangible liabilities, net | 78,674 | 84,041 |
In-place leases | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 430,610 | 424,509 |
Finite-lived intangible assets, accumulated amortization | 176,011 | 151,474 |
Intangible assets, net | 254,599 | 273,035 |
Above-market lease assets | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 23,635 | 23,666 |
Finite-lived intangible assets, accumulated amortization | 9,129 | 8,152 |
Intangible assets, net | $ 14,506 | $ 15,514 |
Real Estate Investments (Summar
Real Estate Investments (Summary of Amortization Expense and Adjustments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | $ 46,496 | $ 44,795 | $ 54,439 |
In-place leases, included in depreciation and amortization | In-place leases | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | 46,496 | 44,795 | 54,439 |
Total included in revenue from tenants | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization (accretion) of leases | 6,200 | 7,421 | 15,548 |
Total included in revenue from tenants | Above-market lease assets | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | 2,794 | 3,375 | 4,441 |
Total included in revenue from tenants | Below-market lease liabilities | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | 8,994 | 10,796 | 19,989 |
Total included in property operating expenses | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | 31 | 30 | 30 |
Total included in property operating expenses | Below-market ground lease asset | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | 32 | 32 | 32 |
Total included in property operating expenses | Above-market ground lease liability | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of leases | $ 1 | $ 2 | $ 2 |
Real Estate Investments (Lease
Real Estate Investments (Lease Amortization) (Details) $ in Thousands | Dec. 31, 2020USD ($) |
In-place leases | In-place leases, included in depreciation and amortization | |
Finite-Lived Intangible Assets [Line Items] | |
2021 | $ 36,462 |
2022 | 32,665 |
2023 | 30,385 |
2024 | 27,666 |
2025 | 24,376 |
Above-market lease assets | Total included in revenue from tenants | |
Finite-Lived Intangible Assets [Line Items] | |
2021 | 2,361 |
2022 | 2,003 |
2023 | 1,755 |
2024 | 1,617 |
2025 | 1,204 |
Below-market lease liabilities | Total included in revenue from tenants | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization income 2021 | (6,359) |
Amortization income 2022 | (6,014) |
Amortization income 2023 | (5,854) |
Amortization income 2024 | (5,643) |
Amortization income 2025 | (5,425) |
Above Market and Below Market Leases | Total included in revenue from tenants | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization income 2021 | (3,998) |
Amortization income 2022 | (4,011) |
Amortization income 2023 | (4,099) |
Amortization income 2024 | (4,026) |
Amortization income 2025 | $ (4,221) |
Real Estate Investments (Narrat
Real Estate Investments (Narrative) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($)property | Dec. 31, 2018USD ($)property | |
Property, Plant and Equipment [Line Items] | ||||
Number of real estate properties | property | 920 | |||
Gain on sale/exchange of real estate investments | $ 6,456 | $ 23,690 | $ 31,776 | |
Impairment of real estate investments | 12,910 | 827 | 21,080 | |
Leasehold Improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Payments for tenant improvements | $ 800 | |||
Payments for leasing costs, commissions, and tenant improvements | $ 2,300 | |||
Leasehold Improvements | In-place leases, included in depreciation and amortization | ||||
Property, Plant and Equipment [Line Items] | ||||
Financing receivable, allowance for credit loss, writeoff | 3,100 | |||
One Property Held For Use | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment of real estate investments | $ 700 | |||
12 Properties Held For Use | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment of real estate investments | $ 10,100 | |||
Multi Tenant Property | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment of real estate investments | 11,500 | |||
3 Single-Tenant Property | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment of real estate investments | $ 1,400 | |||
SunTrust Bank | ||||
Property, Plant and Equipment [Line Items] | ||||
Number of real estate properties | property | 6 | |||
SunTrust Bank | One Property Held For Use | ||||
Property, Plant and Equipment [Line Items] | ||||
Number of real estate properties | property | 1 | |||
SunTrust Bank | Multi Tenant Property | ||||
Property, Plant and Equipment [Line Items] | ||||
Number of real estate properties impaired | property | 2 | |||
Impaired real estate investments held for sale | ||||
Property, Plant and Equipment [Line Items] | ||||
Number of real estate properties | property | 0 | 1 | ||
Impairment of real estate investments | $ 100 | $ 11,000 | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||
Property, Plant and Equipment [Line Items] | ||||
Number of real estate properties | property | 1 | |||
Properties sold | property | 25 | 44 | ||
Aggregate contract sale price | $ 13,300 | $ 131,700 | $ 161,500 | |
Number of real estate properties impaired | property | 12 | |||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2 Properties Exchanged In Non-Monetary Transaction | ||||
Property, Plant and Equipment [Line Items] | ||||
Properties sold | property | 2 | |||
Gain on sale/exchange of real estate investments | $ 2,200 | |||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | SunTrust Bank | ||||
Property, Plant and Equipment [Line Items] | ||||
Properties sold | property | 6 | 22 | 31 | |
Gain on sale/exchange of real estate investments | $ 4,300 | |||
Impairment of real estate investments | $ 1,700 | |||
Number of real estate properties impaired | property | 9 |
Real Estate Investments (Summ_2
Real Estate Investments (Summary of Assets Held-for-Sale) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Impairment charges related to properties reclassified as held for sale | $ (12,910) | $ (827) | $ (21,080) |
Assets held for sale | $ 0 | 1,176 | |
Impaired real estate investments held for sale | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Land | 563 | ||
Buildings, fixtures and improvements | 750 | ||
Total real estate assets held for sale, at cost | 1,313 | ||
Less accumulated depreciation and amortization | (137) | ||
Total real estate investments held for sale, net | 1,176 | ||
Impairment charges related to properties reclassified as held for sale | (100) | $ (11,000) | |
Assets held for sale | $ 1,176 |
Mortgage Notes Payable, Net (Su
Mortgage Notes Payable, Net (Summary of Mortgage Notes Payable) (Details) | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019USD ($)property | Dec. 31, 2020USD ($)property | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jul. 24, 2020USD ($)property | May 30, 2019USD ($) | |
Debt Instrument [Line Items] | ||||||
Payments of prepayment costs on mortgages | $ 807,000 | $ 4,491,000 | $ 4,224,000 | |||
Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 735 | |||||
Outstanding Loan Amount | $ 1,528,632,000 | 1,323,454,000 | ||||
Effective interest rate | 4.02% | |||||
Deferred financing costs, net of accumulated amortization | $ (38,760,000) | (15,564,000) | ||||
Mortgage premiums, net | 926,000 | 3,053,000 | ||||
Mortgage notes payable, net | $ 1,490,798,000 | 1,310,943,000 | ||||
Number of properties | property | 368 | |||||
SAAB Sensis I | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 1 | |||||
Outstanding Loan Amount | $ 6,217,000 | 6,660,000 | ||||
Effective interest rate | 5.93% | |||||
Trust Bank II | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 15 | |||||
Outstanding Loan Amount | $ 9,560,000 | 10,860,000 | ||||
Effective interest rate | 5.50% | |||||
SunTrust Bank III | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 76 | |||||
Outstanding Loan Amount | $ 60,952,000 | 62,228,000 | ||||
Effective interest rate | 5.50% | |||||
SunTrust Bank IV | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 10 | |||||
Outstanding Loan Amount | $ 3,792,000 | 6,626,000 | ||||
Effective interest rate | 5.50% | |||||
Stop & Shop I | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 4 | |||||
Outstanding Loan Amount | $ 45,000,000 | 45,000,000 | ||||
Effective interest rate | 3.49% | |||||
Payments of prepayment costs on mortgages | 2,000,000 | |||||
Shops at Shelby Crossing | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 1 | |||||
Outstanding Loan Amount | $ 21,677,000 | 22,139,000 | ||||
Effective interest rate | 4.97% | |||||
Patton Creek [10] | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 1 | |||||
Outstanding Loan Amount | $ 34,000,000 | 39,147,000 | ||||
Effective interest rate | 4.82% | |||||
Bob Evans I | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 23 | |||||
Outstanding Loan Amount | $ 23,950,000 | 23,950,000 | ||||
Effective interest rate | 4.71% | |||||
Class A-1 Net Lease Mortgage Notes | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 95 | |||||
Outstanding Loan Amount | $ 119,084,000 | 120,294,000 | ||||
Effective interest rate | 3.83% | |||||
Mortgage loan | $ 121,000,000 | |||||
Class A-2 Net Lease Mortgage Notes | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 106 | |||||
Outstanding Loan Amount | $ 121,000,000 | 121,000,000 | ||||
Effective interest rate | 4.52% | |||||
Mortgage loan | 121,000,000 | |||||
Net Lease Mortgage Note | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 201 | |||||
Outstanding Loan Amount | $ 240,084,000 | 241,294,000 | ||||
Mortgage loan | $ 242,000,000 | |||||
Sanofi US I | Sanofi US I | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 1 | |||||
Outstanding Loan Amount | $ 125,000,000 | 125,000,000 | ||||
Effective interest rate | 3.26% | |||||
Mortgage Loan I | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 0 | |||||
Outstanding Loan Amount | $ 0 | 497,150,000 | ||||
Effective interest rate | 0.00% | 4.36% | ||||
Payments of prepayment costs on mortgages | $ 1,600,000 | |||||
Number of properties | property | 223 | |||||
Column Financial Mortgage Notes | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 368 | |||||
Outstanding Loan Amount | $ 715,000,000 | 0 | ||||
Effective interest rate | 3.79% | |||||
Mortgage Loan II | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 12 | |||||
Outstanding Loan Amount | $ 210,000,000 | 210,000,000 | ||||
Effective interest rate | 4.25% | |||||
Mortgage Loan III | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 22 | |||||
Outstanding Loan Amount | $ 33,400,000 | $ 33,400,000 | ||||
Effective interest rate | 4.12% | |||||
Mortgage Loan IV | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Encumbered Properties | property | 39 | |||||
Write off of deferred finance costs | $ 800,000 | |||||
Loan Agreement Maturing August 6, 2025 | Gross mortgage notes payable | ||||||
Debt Instrument [Line Items] | ||||||
Mortgage loan | $ 715,000,000 |
Mortgage Notes Payable, Net (Na
Mortgage Notes Payable, Net (Narrative) (Details) | Dec. 06, 2021 | Dec. 01, 2020USD ($) | Sep. 04, 2020USD ($) | Jul. 24, 2020USD ($)ft²propertystate | May 30, 2019USD ($) | Dec. 31, 2020USD ($)ft²propertytest | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 18, 2019USD ($)ft²property | Nov. 09, 2019USD ($) | Sep. 30, 2018USD ($) |
Debt Instrument [Line Items] | |||||||||||
Credit facility | $ 280,857,000 | $ 333,147,000 | |||||||||
Area of real estate property | ft² | 19,300,000 | ||||||||||
Interest Rate Cap | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Notional Amount | $ 34,000,000 | ||||||||||
Not Designated as Hedging Instrument | Interest Rate Cap | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Notional Amount | 34,000,000 | ||||||||||
Subsidiaries | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Borrowing capacity | $ 125,000,000 | ||||||||||
Stated interest rate | 3.27% | ||||||||||
Escrow deposit | 1,700,000 | ||||||||||
Due from related parties | $ 800,000 | ||||||||||
Subsidiaries | London Interbank Offered Rate (LIBOR) | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Basis spread on variable rate | 2.90% | ||||||||||
192 Properties | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Encumbered properties | property | 192 | ||||||||||
Repayments of debt | $ 204,900,000 | ||||||||||
39 Properties | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Encumbered properties | property | 39 | ||||||||||
Debt Covenant Test One | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt service coverage ratio floor | 130.00% | ||||||||||
Debt Covenant Test Two | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt service coverage ratio floor | 120.00% | ||||||||||
Amended Credit Facility | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Collateral pledged | $ 1,100,000,000 | ||||||||||
Repayments of debt | 175,000,000 | ||||||||||
New Credit Facility | Revolving Credit Facility | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Credit facility | 280,900,000 | ||||||||||
Borrowing capacity | $ 100,000,000 | $ 125,000,000 | $ 540,000,000 | ||||||||
Number of properties | property | 1 | ||||||||||
New Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Basis spread on variable rate | 2.50% | ||||||||||
Mortgages | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Collateral pledged | $ 2,800,000,000 | $ 2,500,000,000 | |||||||||
Repayments of long-term debt | $ 2,600,000 | ||||||||||
Defeasance fee | $ 500,000 | ||||||||||
Number of properties | property | 368 | ||||||||||
Effective interest rate | 4.02% | ||||||||||
Encumbered properties | property | 735 | ||||||||||
Mortgages | 39 Properties | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Repayments of debt | $ 29,900,000 | ||||||||||
Mortgages | New Patton Creek Loan Agreement | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Repayments of long-term debt | $ 7,300,000 | ||||||||||
Credit facility | 34,000,000 | ||||||||||
Payments of debt issuance costs | $ 2,800,000 | ||||||||||
Mortgages | New Patton Creek Loan Agreement | London Interbank Offered Rate (LIBOR) | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Basis spread on variable rate | 4.25% | ||||||||||
Mortgages | New Patton Creek Loan Agreement | London Interbank Offered Rate (LIBOR) | Subsequent Event | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Basis spread on variable rate | 5.25% | ||||||||||
Mortgages | Net Lease Mortgage Note | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Mortgage loan | $ 242,000,000 | ||||||||||
Encumbered properties | property | 201 | ||||||||||
Amortization rate | 0.50% | ||||||||||
Proceeds from issuance of debt | $ 37,100,000 | ||||||||||
Number of additional real estate properties | property | 10 | ||||||||||
Maximum value of properties released or exchanged from collateral pool | 35.00% | ||||||||||
Maximum prepayment of initial principal balance | 35.00% | ||||||||||
Minimum net proceeds from public equity offering | $ 75,000,000 | ||||||||||
Number of debt service coverage ratio tests | test | 2 | ||||||||||
Mortgages | Net Lease Mortgage Note | 153 Properties | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Encumbered properties | property | 153 | ||||||||||
Mortgages | Stop & Shop Loan | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Stated interest rate | 3.445% | ||||||||||
Mortgage loan | $ 45,000,000 | ||||||||||
Area of real estate property | ft² | 300,000 | ||||||||||
Encumbered properties | property | 4 | ||||||||||
Mortgages | Mortgage Loan I | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Repayments of long-term debt | $ 499,000,000 | ||||||||||
Number of properties | property | 223 | ||||||||||
Proceeds from issuance of long-term debt | $ 696,200,000 | ||||||||||
Effective interest rate | 4.36% | 0.00% | |||||||||
Encumbered properties | property | 0 | ||||||||||
Mortgages | Mortgage Loan II | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Effective interest rate | 4.25% | ||||||||||
Encumbered properties | property | 12 | ||||||||||
Mortgages | Class A-1 Net Lease Mortgage Notes | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Stated interest rate | 3.78% | ||||||||||
Mortgage loan | $ 121,000,000 | ||||||||||
Effective interest rate | 3.83% | ||||||||||
Encumbered properties | property | 95 | ||||||||||
Mortgages | Class A-2 Net Lease Mortgage Notes | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Stated interest rate | 4.46% | ||||||||||
Mortgage loan | $ 121,000,000 | ||||||||||
Effective interest rate | 4.52% | ||||||||||
Encumbered properties | property | 106 | ||||||||||
Mortgages | Loan Agreement Maturing August 6, 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Stated interest rate | 3.743% | ||||||||||
Mortgage loan | $ 715,000,000 | ||||||||||
Number of states where collateral properties are located | state | 41 | ||||||||||
Area of real estate property | ft² | 7,100,000 | ||||||||||
Proceeds from issuance of long-term debt | $ 697,100,000 | ||||||||||
Guarantor obligations, recourse, minimum maintained net worth | $ 1,000,000,000 | ||||||||||
MASSACHUSETTS | Mortgages | Stop & Shop Loan | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Encumbered properties | property | 3 |
Mortgage Notes Payable, Net (Fu
Mortgage Notes Payable, Net (Future Minimum Payments) (Details) - Gross mortgage notes payable - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
2021 | $ 110,471 | |
2022 | 2,311 | |
2023 | 2,643 | |
2024 | 22,287 | |
2025 | 845,771 | |
Thereafter | 545,149 | |
Mortgage notes payable, net of deferred financing costs | $ 1,528,632 | $ 1,323,454 |
Credit Facility (Details)
Credit Facility (Details) - USD ($) | Jul. 24, 2020 | Nov. 09, 2019 | Apr. 26, 2018 | Jun. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Nov. 04, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Line of Credit Facility [Line Items] | ||||||||||
Credit facility | $ 280,857,000 | $ 333,147,000 | ||||||||
Cash and cash equivalents | $ 102,860,000 | $ 81,898,000 | $ 91,451,000 | |||||||
Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Weighted average interest rate | 2.79% | 3.80% | ||||||||
Debt covenant cash and borrowing availability required | $ 40,000,000 | |||||||||
New Credit Facility | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Borrowing capacity | $ 125,000,000 | $ 100,000,000 | $ 540,000,000 | |||||||
Additional borrowing capacity | 125,000,000 | $ 125,000,000 | ||||||||
Additional borrowing capacity accordion feature | $ 500,000,000 | $ 375,000,000 | ||||||||
Percentage of the value of the pool of eligible unencumbered real estate assets comprising the borrowing base that is available for future borrowings under credit facility | 60.00% | |||||||||
Percentage of value of all eligible unencumbered real estate assets comprising the borrowing base purchased, basis spread | 10.00% | |||||||||
Credit facility | $ 280,900,000 | |||||||||
Current borrowing capacity | 406,900,000 | |||||||||
Unused borrowing capacity | $ 126,000,000 | |||||||||
Extension period | 1 year | |||||||||
Debt covenant cash and borrowing availability required | $ 60,000,000 | |||||||||
Decrease in multi-tenant properties purchased, percentage | 10.00% | |||||||||
London Interbank Offered Rate (LIBOR) | New Credit Facility | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 2.50% | |||||||||
Base Rate [Member] | New Credit Facility | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 1.50% | |||||||||
London Interbank Offered Rate (LIBOR) Floor [Member] | New Credit Facility | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 0.25% | 0.00% | ||||||||
Minimum | Interest rate, option two | Federal Funds Effective Rate | Amended Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 0.60% | |||||||||
Minimum | Interest rate, option two | London Interbank Offered Rate (LIBOR) | Amended Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 1.60% | |||||||||
Maximum | Interest rate, option two | Federal Funds Effective Rate | Amended Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 1.20% | |||||||||
Maximum | Interest rate, option two | London Interbank Offered Rate (LIBOR) | Amended Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Basis spread on variable rate | 2.20% | |||||||||
Four Consecutive Fiscal Quarters [Member] | New Credit Facility | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Dividends as percent of modified FFO maximum in rolling four quarter period | 95.00% | |||||||||
Two Consecutive Fiscal Quarters [Member] | New Credit Facility | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Dividends as percent of modified FFO maximum in individual quarter over two consecutive quarters | 105.00% |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value of Financial Instruments) (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Lines of credit facility, fair value disclosure | $ 278.8 | $ 333.1 |
Carrying Amount | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Lines of credit facility, fair value disclosure | 280.9 | |
Gross mortgage notes payable | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, fair value disclosure | 1,600 | 1,300 |
Gross mortgage notes payable | Carrying Amount | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, fair value disclosure | $ 1,500 | $ 1,300 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities (Narrative) (Details) - USD ($) | 12 Months Ended | ||||
Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 01, 2020 | |
Derivative [Line Items] | |||||
Accelerated reclassification gain (loss) | $ (1,500,000) | ||||
Gain (loss) on derivative | $ (9,000) | 0 | $ 0 | ||
Interest Rate “Pay-fixed” Swaps | |||||
Derivative [Line Items] | |||||
Notional Amount | $ 125,000,000 | ||||
Interest Rate Cap | |||||
Derivative [Line Items] | |||||
Notional Amount | 34,000,000 | ||||
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate “Pay-fixed” Swaps | |||||
Derivative [Line Items] | |||||
Notional Amount | 125,000,000 | ||||
Interest Expense | Cash Flow Hedging | Interest Rate “Pay-fixed” Swaps | |||||
Derivative [Line Items] | |||||
Accelerated reclassification gain (loss) | $ (51,000) | $ (36,000) | |||
Interest Expense | Cash Flow Hedging | Interest Rate “Pay-fixed” Swaps | Forecast [Member] | |||||
Derivative [Line Items] | |||||
Accelerated reclassification gain (loss) | $ (200,000) |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities (Schedule of Derivative Instruments in Statement of Financial Position) (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate “Pay-fixed” Swaps | |
Derivative [Line Items] | |
Derivative liabilities, at fair value | $ 123 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities (Schedule of Interest Rate Derivatives) (Details) $ in Millions | Dec. 31, 2020USD ($)derivative | Sep. 01, 2020USD ($) |
Interest Rate “Pay-fixed” Swaps | ||
Derivative [Line Items] | ||
Notional Amount | $ 125 | |
Interest Rate Cap | ||
Derivative [Line Items] | ||
Notional Amount | $ 34 | |
Not Designated as Hedging Instrument | Interest Rate Cap | ||
Derivative [Line Items] | ||
Number of Instruments | derivative | 1 | |
Notional Amount | $ 34 | |
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate “Pay-fixed” Swaps | ||
Derivative [Line Items] | ||
Number of Instruments | derivative | 1 | |
Notional Amount | $ 125 |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities (Derivative Instruments, Gain (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | |||
Amount of loss reclassified from AOCI into income as interest expense | $ (1,500) | ||
Total interest expense recorded in the consolidated statement of operations and comprehensive loss | $ 78,467 | 77,994 | $ 66,789 |
Cash Flow Hedging | Interest Rate “Pay-fixed” Swaps | |||
Derivative [Line Items] | |||
Amount of loss recognized in AOCI on interest rate derivatives | (174) | (979) | |
Amount of loss recognized in AOCI on interest rate derivatives | (670) | ||
Amount of gain recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) | 0 | 0 | 81 |
Interest Expense | Cash Flow Hedging | Interest Rate “Pay-fixed” Swaps | |||
Derivative [Line Items] | |||
Amount of loss reclassified from AOCI into income as interest expense | $ (51) | $ (36) | |
Amount of loss reclassified from AOCI into income as interest expense | $ (125) |
Derivatives and Hedging Activ_7
Derivatives and Hedging Activities (Schedule of Offsetting Derivatives) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Gross Amounts of Recognized Assets | $ 0 | |
Gross Amounts of Recognized (Liabilities) | 123 | |
Gross Amounts Offset on the Balance Sheet | 0 | |
Net Amounts of Assets (Liabilities) Presented on the Balance Sheet | 123 | $ 0 |
Financial Instruments | 0 | |
Cash Collateral Received (Posted) | 0 | |
Net Amount | $ 123 |
Stockholders_ Equity and Non-_3
Stockholders’ Equity and Non-Controlling Interest - (Narrative) (Details) $ / shares in Units, $ in Thousands | Jan. 13, 2021USD ($) | Dec. 18, 2020USD ($)$ / sharesshares | Oct. 04, 2019USD ($) | Sep. 09, 2019USD ($)$ / sharesshares | Apr. 10, 2019USD ($)shares | Mar. 26, 2019USD ($)$ / sharesshares | Jan. 09, 2019$ / sharesshares | Oct. 10, 2018shares | Jul. 19, 2018 | Jul. 03, 2018$ / shares | Jul. 01, 2018$ / shares | May 01, 2018$ / sharesshares | Mar. 27, 2018shares | Feb. 15, 2018$ / sharesshares | Jul. 01, 2017$ / shares | Jan. 31, 2021USD ($) | Apr. 30, 2020$ / sharesshares | Mar. 31, 2020$ / shares | Feb. 29, 2020$ / shares | Jan. 31, 2020$ / shares | May 31, 2019USD ($) | May 31, 2018USD ($)shares | Mar. 27, 2018USD ($) | Apr. 30, 2013$ / shares | Sep. 30, 2020 | Dec. 31, 2020USD ($)director$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017shares | Dec. 31, 2016shares | Dec. 31, 2014shares | Dec. 31, 2018shares | Jun. 30, 2018shares |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Common stock, outstanding (in shares) | 108,837,209 | 108,475,266 | 106,230,901 | 106,230,901 | 105,058,793 | ||||||||||||||||||||||||||||
Common stock repurchases (in shares) | (412,939) | (1,225,365) | (7,854) | (1,769,738) | (303,907) | (3,719,803) | |||||||||||||||||||||||||||
Listing fees | $ | $ 0 | $ 0 | $ 4,988 | ||||||||||||||||||||||||||||||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||||
Common stock, temporary par value, reverse stock split (in dollars per share) | $ / shares | $ 0.02 | ||||||||||||||||||||||||||||||||
Common stock issued through distribution reinvestment plan (in shares) | 0 | 0 | 1,000,000 | ||||||||||||||||||||||||||||||
Issuance of new shares | $ | $ (239) | $ 31,601 | |||||||||||||||||||||||||||||||
Preferred stock, additional directors to be elected if six or more quarterly dividends are in arrears | director | 2 | ||||||||||||||||||||||||||||||||
Dividends declared on common stock, annualized rate (in dollars per share) | $ / shares | $ 0.85 | $ 1.10 | |||||||||||||||||||||||||||||||
Dividends (in usd per share) | $ / shares | $ 0.0708333 | $ 0.0916667 | $ 0.0916667 | $ 0.0916667 | 0.70 | $ 1.10 | $ 1.10 | ||||||||||||||||||||||||||
Dividends declared on common stock (in dollars per share) | $ / shares | $ 1.10 | $ 1.30 | $ 1.65 | 0.70 | 1.10 | $ 1.10 | |||||||||||||||||||||||||||
Dividends declared monthly rate (in dollars per share) | $ / shares | $ 0.0916667 | $ 0.0916667 | |||||||||||||||||||||||||||||||
Common stock, dividends, declared, period | 11 months | 12 months | |||||||||||||||||||||||||||||||
Dividends declared on preferred stock (in dollars per share) | $ / shares | $ 1.875 | $ 1.56 | |||||||||||||||||||||||||||||||
Reverse stock split ratio | 0.5 | ||||||||||||||||||||||||||||||||
Sale of stock, maximum ownership percentage without significant penalty | 4.90% | ||||||||||||||||||||||||||||||||
Initial MacKenzie Offering | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, price per share (in usd per share) | $ / shares | $ 15.35 | $ 13.66 | |||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 1,000,000 | ||||||||||||||||||||||||||||||||
MacKenzie Offering Counter Offer | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, price per share (in usd per share) | $ / shares | $ 15.45 | $ 14.35 | |||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 483,716 | ||||||||||||||||||||||||||||||||
MacKenzie Final Offer | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 207,713 | ||||||||||||||||||||||||||||||||
Sale of stock, consideration received on transaction | $ | $ 3,200 | $ 6,900 | |||||||||||||||||||||||||||||||
Maximum | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Preferred stock, authorized (in shares) | 50,000,000 | ||||||||||||||||||||||||||||||||
Maximum | Initial MacKenzie Offering | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 1,000,000 | ||||||||||||||||||||||||||||||||
Maximum | MacKenzie Offering Counter Offer | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||
Common Stock | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Common stock, outstanding (in shares) | 108,800,000 | 108,500,000 | |||||||||||||||||||||||||||||||
Common stock repurchases (in shares) | (19,870) | (1,142,190) | |||||||||||||||||||||||||||||||
Common stock issued through distribution reinvestment plan (in shares) | 990,393 | ||||||||||||||||||||||||||||||||
Issuance of new shares | $ | $ 22 | ||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Common stock, outstanding (in shares) | 79,966,215 | 79,966,215 | |||||||||||||||||||||||||||||||
Percentage of outstanding stock reclassified | 50.00% | ||||||||||||||||||||||||||||||||
Class A | Listed within 90 days | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Percentage of common stock listed | 50.00% | ||||||||||||||||||||||||||||||||
Class A | Class A Common Stock ATM Program | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 2,229,647 | ||||||||||||||||||||||||||||||||
Sale of stock, consideration received on transaction | $ | $ 31,600 | ||||||||||||||||||||||||||||||||
Sale of stock, gross consideration received on transaction | $ | 32,400 | ||||||||||||||||||||||||||||||||
Commission paid | $ | $ 800 | ||||||||||||||||||||||||||||||||
Class A | Maximum | Class A Common Stock ATM Program | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Issuance of new shares | $ | $ 200,000 | ||||||||||||||||||||||||||||||||
Class B-1 | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Stock dividend rate as a percentage of outstanding shares | 50.00% | ||||||||||||||||||||||||||||||||
Class B-1 | Listed initially | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Percentage of common stock listed | 25.00% | ||||||||||||||||||||||||||||||||
Class B2 | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Common stock, outstanding (in shares) | 26,264,686 | 26,264,686 | |||||||||||||||||||||||||||||||
Stock dividend rate as a percentage of outstanding shares | 50.00% | ||||||||||||||||||||||||||||||||
Class B2 | Listed initially | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Percentage of common stock listed | 25.00% | ||||||||||||||||||||||||||||||||
Series A Cumulative Redeemable Perpetual Preferred Stock | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Preferred stock, authorized (in shares) | 8,796,000 | ||||||||||||||||||||||||||||||||
Preferred stock, issued (in shares) | 7,842,008 | 6,917,230 | |||||||||||||||||||||||||||||||
Preferred stock, outstanding (in shares) | 7,842,008 | 6,917,230 | |||||||||||||||||||||||||||||||
Preferred stock dividend rate | 7.50% | ||||||||||||||||||||||||||||||||
Redemption period after delisting event | 90 days | ||||||||||||||||||||||||||||||||
Redemption period after change of control | 120 days | ||||||||||||||||||||||||||||||||
Dividends declared on preferred stock (in dollars per share) | $ / shares | $ 1.875 | ||||||||||||||||||||||||||||||||
Series A Cumulative Redeemable Perpetual Preferred Stock | Underwriting Offering, Series A Preferred Stock | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 3,450,000 | 146,000 | 1,200,000 | ||||||||||||||||||||||||||||||
Sale of stock, consideration received on transaction | $ | $ 83,500 | $ 28,600 | |||||||||||||||||||||||||||||||
Sale of stock, gross consideration received on transaction | $ | $ 87,100 | $ 30,000 | |||||||||||||||||||||||||||||||
Preferred stock liquidation preference (in dollars per share) | $ / shares | $ 25.25 | $ 25 | |||||||||||||||||||||||||||||||
Preferred stock redemption price (in dollars per share) | $ / shares | $ 25 | ||||||||||||||||||||||||||||||||
Series A Cumulative Redeemable Perpetual Preferred Stock | Series A preferred Stock ATM Program | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 924,778 | 2,121,230 | |||||||||||||||||||||||||||||||
Sale of stock, consideration received on transaction | $ | $ 22,400 | $ 53,200 | |||||||||||||||||||||||||||||||
Sale of stock, gross consideration received on transaction | $ | 23,300 | 54,000 | |||||||||||||||||||||||||||||||
Commission paid | $ | $ 900 | $ 800 | |||||||||||||||||||||||||||||||
Series A Cumulative Redeemable Perpetual Preferred Stock | Over-Allotment Option | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 450,000 | ||||||||||||||||||||||||||||||||
Sale of stock, consideration received on transaction | $ | $ 3,500 | ||||||||||||||||||||||||||||||||
Sale of stock, gross consideration received on transaction | $ | $ 3,700 | ||||||||||||||||||||||||||||||||
Series A Cumulative Redeemable Perpetual Preferred Stock | Maximum | Series A preferred Stock ATM Program | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Issuance of new shares | $ | $ 100,000 | $ 50,000 | |||||||||||||||||||||||||||||||
Series A Cumulative Redeemable Perpetual Preferred Stock | Maximum | Series A preferred Stock ATM Program | Subsequent Event | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Issuance of new shares | $ | $ 200,000 | $ 200,000 | |||||||||||||||||||||||||||||||
Series B Preferred Stock | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Preferred stock, authorized (in shares) | 1 | 120,000 | |||||||||||||||||||||||||||||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.01 | ||||||||||||||||||||||||||||||||
Preferred stock, issued (in shares) | 0 | 0 | |||||||||||||||||||||||||||||||
Preferred stock, outstanding (in shares) | 0 | 0 | |||||||||||||||||||||||||||||||
Preferred stock, exercise price ( in dollars per one-thousandth of a share) | $ / shares | $ 0.035 | ||||||||||||||||||||||||||||||||
Series C Preferred Stock | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Issuance of new shares | $ | $ 85,196 | ||||||||||||||||||||||||||||||||
Preferred stock, authorized (in shares) | 3,680,000 | ||||||||||||||||||||||||||||||||
Preferred stock, issued (in shares) | 3,535,700 | ||||||||||||||||||||||||||||||||
Preferred stock, outstanding (in shares) | 3,535,700 | ||||||||||||||||||||||||||||||||
Series C Preferred Stock | Over-Allotment Option | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 335,700 | ||||||||||||||||||||||||||||||||
Series C Preferred Stock | Underwriting Offering, Series C Preferred Stock | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | 3,535,700 | ||||||||||||||||||||||||||||||||
Sale of stock, consideration received on transaction | $ | $ 85,200 | ||||||||||||||||||||||||||||||||
Sale of stock, gross consideration received on transaction | $ | $ 88,400 | ||||||||||||||||||||||||||||||||
Preferred stock liquidation preference (in dollars per share) | $ / shares | $ 25 | ||||||||||||||||||||||||||||||||
Payments of stock issuance costs | $ | $ 2,800 | ||||||||||||||||||||||||||||||||
Payments of stock offering costs | $ | $ 400 | ||||||||||||||||||||||||||||||||
7.375% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Preferred stock, authorized (in shares) | 3,680,000 | 0 | |||||||||||||||||||||||||||||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||||
Preferred stock, issued (in shares) | 3,535,700 | 0 | |||||||||||||||||||||||||||||||
Preferred stock, outstanding (in shares) | 3,535,700 | 0 | |||||||||||||||||||||||||||||||
Preferred stock dividend rate | 7.375% | 7.375% | |||||||||||||||||||||||||||||||
Preferred stock liquidation preference (in dollars per share) | $ / shares | $ 25 | $ 25 | |||||||||||||||||||||||||||||||
Dividends declared on preferred stock (in dollars per share) | $ / shares | $ 1.844 | ||||||||||||||||||||||||||||||||
Fractional Shares Repurchased As Result Of Automatic Conversion | Class B-1 | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Common stock repurchases (in shares) | (19,945) | ||||||||||||||||||||||||||||||||
Fractional Shares Repurchased As Result Of Automatic Conversion | Class B2 | |||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||
Common stock repurchases (in shares) | (19,870) | ||||||||||||||||||||||||||||||||
Sale of stock, price per share (in usd per share) | $ / shares | $ 13.78 |
Stockholders_ Equity and Non-_4
Stockholders’ Equity and Non-Controlling Interest - (Schedule of Common Stock) (Details) - shares | Jan. 09, 2019 | Oct. 10, 2018 | Jul. 20, 2018 | Jul. 03, 2018 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2018 | Jun. 30, 2018 |
Class of Stock [Line Items] | ||||||||||||||
Shares of common stock (in shares) | 105,011,556 | 105,011,556 | 105,011,556 | 105,049,705 | ||||||||||
Common stock, outstanding (in shares) | 106,230,901 | 108,837,209 | 108,475,266 | 106,230,901 | 106,230,901 | 105,058,793 | ||||||||
Common stock repurchases (in shares) | 412,939 | 1,225,365 | 7,854 | 1,769,738 | 303,907 | 3,719,803 | ||||||||
Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Shares of common stock (in shares) | 78,749,079 | 78,749,079 | 78,749,079 | |||||||||||
Common stock, outstanding (in shares) | 79,966,215 | 79,966,215 | 79,966,215 | |||||||||||
Class B2 | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Shares of common stock (in shares) | 26,262,477 | 26,262,477 | 26,262,477 | |||||||||||
Common stock, outstanding (in shares) | 26,264,686 | 26,264,686 | 26,264,686 | |||||||||||
Restricted Stock | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Unvested restricted shares (in shares) | 136,234 | 136,234 | 136,234 | 9,088 | ||||||||||
Restricted Stock | Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Unvested restricted shares (in shares) | 134,025 | 134,025 | 134,025 | |||||||||||
Restricted Stock | Class B2 | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Unvested restricted shares (in shares) | 2,209 | 2,209 | 2,209 | |||||||||||
Class A Units | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Unvested restricted shares (in shares) | 203,612 | |||||||||||||
Vesting and conversion of Class B Units | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Vesting and conversion of Class B Units (in shares) | 1,052,420 | |||||||||||||
Vesting and conversion of Class B Units | Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Vesting and conversion of Class B Units (in shares) | 1,052,420 | |||||||||||||
Redemption of Class A Units (formerly known as OP Units) | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Vesting and conversion of Class B Units (in shares) | 30,691 | |||||||||||||
Redemption of Class A Units (in shares) | 30,691 | |||||||||||||
Redemption of Class A Units (formerly known as OP Units) | Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Vesting and conversion of Class B Units (in shares) | 30,691 | |||||||||||||
Fractional Shares Repurchased As Result Of Stock Split | Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock repurchases (in shares) | 18,460 | |||||||||||||
Fractional Shares Repurchased As Result Of Automatic Conversion | Class B-1 | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock repurchases (in shares) | 19,945 | |||||||||||||
Fractional Shares Repurchased As Result Of Automatic Conversion | Class B2 | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock repurchases (in shares) | 19,870 | |||||||||||||
Special Limited Partner | American Realty Capital Trust V Special Limited Partner, LLC | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock held by related party (in shares) | 8,888 | |||||||||||||
Special Limited Partner | American Realty Capital Trust V Special Limited Partner, LLC | Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock held by related party (in shares) | 2,222 | 2,222 | 2,222 | |||||||||||
Individual Members Of Special Limited Partner | American Realty Capital Trust V Special Limited Partner, LLC | Class A | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Common stock held by related party (in shares) | 4,444 | |||||||||||||
Restricted Share Plan | Restricted Stock | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Unvested restricted shares (in shares) | 136,234 | 400,872 | 111,421 | 136,234 | 15,708 | 136,234 | ||||||||
LTIP units granted (in shares) | 127,402 | 361,943 | 34,588 | 127,402 | ||||||||||
Independent Director | Restricted Stock | ||||||||||||||
Class of Stock [Line Items] | ||||||||||||||
Shares of common stock (in shares) | 7 |
Stockholders_ Equity and Non-_5
Stockholders’ Equity and Non-Controlling Interest - (Stock Redemption) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended | 23 Months Ended | 71 Months Ended | ||||
Jan. 31, 2018 | Jul. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 31, 2018 | |
Equity [Abstract] | |||||||||
Number of Shares (in shares) | 412,939 | 1,225,365 | 7,854 | 1,769,738 | 303,907 | 3,719,803 | |||
Weighted Average Price per Share (in dollars per share) | $ 23.37 | $ 23.37 | $ 23.71 | $ 24.17 | $ 24.13 | $ 24.01 | $ 23.90 | ||
Shares rejected for repurchase (in shares) | 600,000 | 5,900,000 | |||||||
Shares rejected for repurchase | $ 140.1 | ||||||||
Shares rejected for repurchase, weighted average cost (in dollars per share) | $ 23.65 | ||||||||
Percentage approved | 100.00% | ||||||||
Treasury stock, shares, acquired (in shares) | 412,939 | ||||||||
Treasury stock, value, acquired, cost method | $ 9.7 |
Stockholders_ Equity and Non-_6
Stockholders’ Equity and Non-Controlling Interest - (Summary of Distributions) (Details) - $ / shares | 1 Months Ended | 12 Months Ended | |||||
Apr. 30, 2020 | Mar. 31, 2020 | Feb. 29, 2020 | Jan. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividends Payable [Line Items] | |||||||
Dividends, percent | 100.00% | 100.00% | 100.00% | ||||
Dividends (in usd per share) | $ 0.0708333 | $ 0.0916667 | $ 0.0916667 | $ 0.0916667 | $ 0.70 | $ 1.10 | $ 1.10 |
Return of capital | |||||||
Dividends Payable [Line Items] | |||||||
Dividends, percent | 90.30% | 90.20% | 93.20% | ||||
Dividends (in usd per share) | $ 0.63 | $ 0.99 | $ 1.03 | ||||
Ordinary dividend income | |||||||
Dividends Payable [Line Items] | |||||||
Dividends, percent | 9.70% | 9.80% | 6.80% | ||||
Dividends (in usd per share) | $ 0.07 | $ 0.11 | $ 0.07 |
Stockholders_ Equity and Non-_7
Stockholders’ Equity and Non-Controlling Interest (Non-Controlling Interest) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Noncontrolling Interest [Line Items] | ||
Non-controlling interests | $ 30,522 | $ 18,899 |
LTIP Units | ||
Noncontrolling Interest [Line Items] | ||
Non-controlling interests | 28,317 | 16,461 |
Class A Units | ||
Noncontrolling Interest [Line Items] | ||
Non-controlling interests | $ 2,205 | $ 2,438 |
Commitments and Contingencies_2
Commitments and Contingencies (Future Minimum Ground Lease Payments) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Commitments and Contingencies Disclosure [Abstract] | ||
2021 | $ 1,515 | |
2022 | 1,532 | |
2023 | 1,549 | |
2024 | 1,560 | |
2025 | 1,598 | |
Thereafter | 44,358 | |
Total lease payments | 52,112 | |
Less: Effects of discounting | (32,875) | |
Total | $ 19,237 | $ 19,318 |
Commitments and Contingencies_3
Commitments and Contingencies (Narrative) (Details) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019USD ($) | Dec. 31, 2020USD ($)lease | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Lessee, Lease, Description [Line Items] | ||||
Number of properties subject to ground leases | lease | 7 | |||
Operating lease right-of-use assets | $ 18,546,000 | $ 18,959,000 | ||
Operating lease liabilities | $ 19,237,000 | 19,318,000 | ||
Weighted average remaining lease term | 8 years 9 months 18 days | |||
Prior period reclassification adjustment | $ 900,000 | $ 900,000 | ||
Legal costs | $ 800,000 | 1,300,000 | $ 1,900,000 | |
Insurance recoveries | $ 9,000 | 2,300,000 | ||
Land | ||||
Lessee, Lease, Description [Line Items] | ||||
Weighted average remaining lease term | 27 years 10 months 24 days | |||
Discount rate | 7.50% | |||
Operating lease payments | $ 1,500,000 | 1,500,000 | ||
Operating lease cost | $ 1,800,000 | $ 2,700,000 | ||
Minimum | Land | ||||
Lessee, Lease, Description [Line Items] | ||||
Term of contract | 17 years | |||
Maximum | Land | ||||
Lessee, Lease, Description [Line Items] | ||||
Term of contract | 34 years 8 months 12 days |
Related Party Transactions an_3
Related Party Transactions and Arrangements (Narrative) (Details) | Mar. 30, 2020$ / shares | May 30, 2019 | Mar. 19, 2019USD ($)quarter | Jul. 03, 2018$ / shares | Sep. 06, 2016USD ($)$ / shares | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)agreement | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 18, 2019 | Dec. 31, 2017agreement |
Related Party Transaction [Line Items] | |||||||||||
Vesting and conversion of Class B Units | $ 0 | $ 0 | $ 15,786,000 | ||||||||
Ineligible termination period | 60 days | ||||||||||
Asset management fees to related party | 27,829,000 | 25,695,000 | 23,143,000 | ||||||||
Related Party Transaction, Variable Management Fee | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | 100,000 | 100,000 | 0 | ||||||||
Acquisition fees and related cost reimbursements | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Asset management fees to related party | $ 201,000 | 241,000 | 318,000 | ||||||||
Property Management Fee | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of property management agreements | agreement | 4 | 12 | |||||||||
Property Management Fee | Property Manager | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Related party transaction, percentage of loan amount recovered | 0.50% | ||||||||||
Annual Subordinated Performance Fee | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Earnings per share used in calculation benchmark one (in usd per share) | $ / shares | $ 0.23 | $ 0.275 | $ 0.375 | ||||||||
Earnings per share used in calculation benchmark two (in usd per share) | $ / shares | $ 0.27 | $ 0.3125 | $ 0.50 | ||||||||
Transition Fees | Property Manager | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 2,500 | ||||||||||
Construction fee percentage | 6.00% | 3.00% | |||||||||
Asset management fees to related party | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Asset management fees to related party | $ 27,829,000 | 25,695,000 | 23,143,000 | ||||||||
Vesting and conversion of Class B Units | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Vesting and conversion of Class B Units | $ 15,800,000 | ||||||||||
American Realty Capital Advisors | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | 8,100,000 | ||||||||||
American Realty Capital Advisors | Advisor | Contact Purchase Price, All Of Portfolio Costs [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Related party transaction, acquisition fees and acquisition related expenses earned by related party, percentage of benchmark | 4.50% | ||||||||||
American Realty Capital Advisors | Advisor | Contract Purchase Price, All Assets Acquired [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Related party transaction, acquisition fees and acquisition related expenses earned by related party, percentage of benchmark | 4.50% | ||||||||||
American Realty Capital Advisors | Salaries, Wages, Benefits And Overhead | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 7,000,000 | $ 2,700,000 | |||||||||
Related party fee, reimbursement of executive salary, variable component, number of quarters | quarter | 4 | ||||||||||
Related party fee, reimbursement of executive salary, variable component, multiplier, percent | 0.20% | ||||||||||
Related party fee, reimbursement of executive salary, annual cost of living adjustment, percent | 3.00% | ||||||||||
Reimbursement of executive salary, reduction of real estate cost | 25.00% | ||||||||||
Reimbursement of executive salary, reduction of real estate cost | 12 months | ||||||||||
Reimbursement of executive salary, negotiation period | 90 days | ||||||||||
Asset management fees to related party | $ 7,200,000 | ||||||||||
Increase (decrease) In general and administrative expense | $ (1,400,000) | ||||||||||
American Realty Capital Advisors | Salaries, Wages, Benefits And Overhead | Advisor | Prepaid Expenses and Other Current Assets [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Accounts receivable, related parties | $ 1,400,000 |
Related Party Transactions an_4
Related Party Transactions and Arrangements (Fees and Participations Incurred in Connection With the Operations of the Company) (Details) | Mar. 30, 2020$ / shares | May 30, 2019 | Jul. 03, 2018$ / shares | Sep. 06, 2016USD ($)$ / shares | Sep. 05, 2016USD ($) | Jul. 02, 2018shares | Dec. 31, 2020USD ($)agreement$ / shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($)agreementproperty | Jan. 15, 2016 |
Related Party Transaction [Line Items] | |||||||||||
Vesting and conversion of Class B Units | $ 0 | $ 0 | $ 15,786,000 | ||||||||
Ineligible termination period | 60 days | ||||||||||
Asset management fees to related party | $ 27,829,000 | 25,695,000 | 23,143,000 | ||||||||
Term of lease contract | 1 year | ||||||||||
Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Percentage of independent directors approval needed to terminate agreement | 67.00% | ||||||||||
Internalization fee percentage payable in equity | 10.00% | ||||||||||
Variable management fee, percent of quarterly earnings, benchmark one | 15.00% | ||||||||||
Basis for variable management fee, benchmark one (in usd per share) | $ / shares | $ 0.375 | ||||||||||
Variable management fee, percent of quarterly earnings, benchmark two | 10.00% | ||||||||||
Basis for variable management fee, benchmark two (in usd per share) | $ / shares | $ 0.50 | ||||||||||
American Realty Capital Advisors | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 8,100,000 | ||||||||||
American Realty Capital Advisors | Contract Purchase Price | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Acquisition fees earned by related party percentage | 0.50% | ||||||||||
Financing advance fees earned by related party percentage | 0.50% | ||||||||||
Antidilutive shares (in shares) | shares | 1,052,420 | ||||||||||
Acquisition fees and related cost reimbursements | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Asset management fees to related party | 201,000 | 241,000 | 318,000 | ||||||||
Base Management Fee | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 18,000,000 | ||||||||||
Related party fee, quarterly payments, percent of net proceeds from equity financing | 0.10417% | ||||||||||
Base Management Fee - First Year following Effective Time | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 21,000,000 | ||||||||||
Transaction multiplier | 0.0031 | ||||||||||
Base Management Fee - Second Year following Effective Time | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 22,500,000 | ||||||||||
Transaction multiplier | 0.0047 | ||||||||||
Base Management Fee - Subsequent to Second Year following Effective Time | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 24,000,000 | ||||||||||
Transaction multiplier | 0.0062 | ||||||||||
Annual Subordinated Performance Fee | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Earnings per share used in calculation benchmark one (in usd per share) | $ / shares | $ 0.23 | $ 0.275 | $ 0.375 | ||||||||
Earnings per share used in calculation benchmark two (in usd per share) | $ / shares | $ 0.27 | $ 0.3125 | $ 0.50 | ||||||||
Administrative Services | American Realty Capital Advisors | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Asset management fees to related party | $ 7,500,000 | $ 9,800,000 | 8,600,000 | ||||||||
Termination Fees for Agreement | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 15,000,000 | ||||||||||
Base Subject Fees Spread | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Transaction multiplier | 4 | ||||||||||
Subject Fees | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Transaction multiplier | 4.5 | ||||||||||
Subject Fees - Applicable if Internalization Occurs On or After January 1, 2029 | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Transaction multiplier | 3.5 | ||||||||||
Basis Spread - Purchase Price | Advisor | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Related party fee, quarterly payments, percent of net proceeds from equity financing | 1.00% | ||||||||||
Property Management Fee | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of property management agreements | agreement | 4 | 12 | |||||||||
Property Management Fee | Property Manager | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Percentage of Allocated Loan Not Related to Specially Service Properties | 0.02083% | ||||||||||
Percentage of Allocated Loan Including Amount Related to Specially Service Properties | 0.0625% | ||||||||||
Percentage of gross rental receipts | 4.00% | ||||||||||
Percentage of reimbursable administrative charges | 15.00% | ||||||||||
Transition Fees | Property Manager | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Advisor fees | $ 2,500 | ||||||||||
Construction fee percentage | 6.00% | 3.00% | |||||||||
Vesting and conversion of Class B Units | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Vesting and conversion of Class B Units | $ 15,800,000 | ||||||||||
Secured Debt | Property Management Fee | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Mortgage loan | $ 210,000,000 | ||||||||||
Number of properties | property | 12 |
Related Party Transactions an_5
Related Party Transactions and Arrangements (Fees Incurred in Connection With the Operations of the Company, Incurred and Payable) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | $ 27,829 | $ 25,695 | $ 23,143 |
General and administrative | 19,683 | 20,375 | 22,733 |
Acquisition fees and related cost reimbursements | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 201 | 241 | 318 |
Related party transaction, due from (to) related party | 96 | 53 | |
Vesting and conversion of Class B Units | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 0 | 0 | 15,786 |
Related party transaction, due from (to) related party | 0 | 0 | |
Asset management fees to related party | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 27,829 | 25,695 | 23,143 |
Related party transaction, due from (to) related party | 177 | 9 | |
Property management and leasing fees | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 6,604 | 9,921 | 9,620 |
Related party transaction, due from (to) related party | 0 | 1,153 | |
Professional fees and other reimbursements | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 10,539 | 9,732 | 9,314 |
Related party transaction, due from (to) related party | (77) | (565) | |
Distributions on Class B Units | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 0 | 0 | 736 |
Related party transaction, due from (to) related party | 0 | 0 | |
Professional fee credit due from Advisor and its affiliates | |||
Related Party Transaction [Line Items] | |||
Professional fee credit due from Advisor and its affiliates [6] | (1,862) | 0 | 0 |
Related party transaction, due from (to) related party | 1,862 | 0 | |
General and administrative | 1,400 | ||
Total related party operation fees and reimbursements | |||
Related Party Transaction [Line Items] | |||
Total commissions and fees from the Former Dealer Manager | 43,311 | 45,589 | $ 58,917 |
Related party transaction, due from (to) related party | (1,666) | 650 | |
American National Stock Transfer, LLC | Accounts Payable | |||
Related Party Transaction [Line Items] | |||
General and administrative | 800 | ||
Advisor | |||
Related Party Transaction [Line Items] | |||
Related party transaction, due from (to) related party | $ 500 | ||
Advisor | Professional fees and other reimbursements | |||
Related Party Transaction [Line Items] | |||
Related party transaction, due from (to) related party | $ 700 |
Related Party Transactions an_6
Related Party Transactions and Arrangements (Fees Incurred in Connection with the Liquidation or Listing of the Company's Real Estate Assets) (Details) $ in Thousands | Aug. 30, 2018shares | Jul. 03, 2018day | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares |
Related Party Transaction [Line Items] | |||||
Total commissions and fees from the Former Dealer Manager | $ | $ 27,829 | $ 25,695 | $ 23,143 | ||
Nasdaq Listing | |||||
Related Party Transaction [Line Items] | |||||
Market value of company stock measurement period | 30 days | ||||
Number of days following conversion | day | 180 | ||||
Cash Distribution | Special Limited Partner | |||||
Related Party Transaction [Line Items] | |||||
Obligation to distribute, equal to market value of stock or sum of proceeds from offering | 15.00% | ||||
Minimum cumulative, non-compounded pre-tax annual return | 6.00% | ||||
LTIP Unit | |||||
Related Party Transaction [Line Items] | |||||
LTIP units granted (in shares) | shares | 4,496,796 | 4,496,796 | 4,496,796 | 4,496,796 |
Equity-Based Compensation (Narr
Equity-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Thousands | Sep. 05, 2018USD ($)shares | Aug. 30, 2018USD ($)day$ / sharesshares | Jul. 03, 2018USD ($) | Sep. 30, 2020shares | Sep. 30, 2018shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Mar. 04, 2019USD ($) | Mar. 03, 2019USD ($) |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Maximum authorized amount as a percentage of shares authorized | 10.00% | |||||||||
Equity-based compensation | $ 13,036 | $ 12,717 | $ 5,266 | |||||||
Ten-day trailing average closing price (in dollars per share) | $ / shares | $ 16.0114 | |||||||||
Dividends payable | $ 532 | $ 654 | $ 454 | |||||||
Restricted Stock | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Additional restricted shares that may be awarded in the future | shares | 40,525 | |||||||||
Percentage of award earned | 25.00% | |||||||||
Restricted Stock | Minimum | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period | 1 year | |||||||||
Restricted Stock | Maximum | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period | 5 years | |||||||||
Restricted Stock | Share-based Payment Arrangement, Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
LTIP units granted (in shares) | shares | 309,475 | |||||||||
Percentage of award earned | 50.00% | |||||||||
LTIP Unit | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
LTIP units granted (in shares) | shares | 4,496,796 | 4,496,796 | 4,496,796 | 4,496,796 | ||||||
Unrecognized compensation costs | $ 6,500 | |||||||||
Equity-based compensation | 11,900 | $ 11,600 | $ 4,800 | |||||||
Consecutive trading days | day | 10 | |||||||||
Share-based compensation — restricted shares | $ 32,000 | $ 10,900 | $ 8,100 | |||||||
Requisite service period (in years) | 3 years | |||||||||
Percentage of entitled distributions | 10.00% | |||||||||
Dividends payable | $ 400 | $ 500 | $ 200 | |||||||
Performance measurement period | 3 years | |||||||||
Weighted average period for recognition | 6 months | |||||||||
LTIP Award Increase In Fair Value | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based compensation — restricted shares | $ 2,800 | |||||||||
Director | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation annual cash retainer | $ 60 | |||||||||
Common stock issued in lieu of cash compensation (in shares) | shares | 0 | 0 | 0 | |||||||
Director | Restricted Stock | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
LTIP units granted (in shares) | shares | 52,468 | |||||||||
Award vesting period | 1 year | |||||||||
Director compensation, restricted stock | $ 85 | $ 85 | ||||||||
Share-based compensation, net of forfeitures (in shares) | shares | 5,308 | |||||||||
Director | One Time Grant, Restricted Stock | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period | 3 years | |||||||||
Director compensation, restricted stock | $ 340 | |||||||||
Lead Independent Director | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation annual cash retainer | 100 | |||||||||
Chair Of Audit Committee | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation annual cash retainer | 30 | |||||||||
Other Audit Committee Members | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation annual cash retainer | 15 | |||||||||
Chair Of Compensation Committee | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation annual cash retainer | 15 | |||||||||
Other Compensation Committee Or NCG Committee Member | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation annual cash retainer | $ 10 | |||||||||
Restricted Share Plan | Restricted Stock | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
LTIP units granted (in shares) | shares | 127,402 | 361,943 | 34,588 | 127,402 | ||||||
Unrecognized compensation costs | $ 2,400 | |||||||||
Equity-based compensation | $ 1,200 | $ 1,100 | $ 500 | |||||||
Weighted average period for recognition | 3 years 1 month 6 days | |||||||||
2018 Equity Plan | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Plan term | 10 years | |||||||||
Advisor | American Realty Capital Advisors | LTIP Unit | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Director compensation, restricted stock | $ 72,000 | |||||||||
Common Stock | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based compensation, net of forfeitures (in shares) | shares | 361,943 | 34,588 | 127,402 | |||||||
Common Stock | One Time Grant, Restricted Stock | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based compensation, net of forfeitures (in shares) | shares | 21,234 |
Equity-Based Compensation (Summ
Equity-Based Compensation (Summary of Unvested Restricted Stock Activity) (Details) - Restricted Stock - $ / shares | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Number of Shares of Common Stock | ||||
Beginning balance (in shares) | 9,088 | 136,234 | ||
Ending balance (in shares) | 136,234 | |||
Restricted Share Plan | ||||
Number of Shares of Common Stock | ||||
Beginning balance (in shares) | 111,421 | 136,234 | 15,708 | |
Granted (in shares) | 127,402 | 361,943 | 34,588 | 127,402 |
Vested (in shares) | (72,492) | (59,401) | (6,869) | |
Forfeited (in shares) | 0 | 0 | (7) | |
Ending balance (in shares) | 400,872 | 111,421 | 136,234 | |
Weighted-Average Issue Price | ||||
Beginning balance (in dollars per share) | $ 14.52 | $ 16.51 | $ 23.67 | |
Granted (in dollars per share) | 6.80 | 9.83 | 16.01 | |
Vested (in dollars per share) | 14.13 | 16.36 | 23.58 | |
Forfeited (in dollars per share) | 0 | 0 | 0 | |
Ending balance (in dollars per share) | $ 7.62 | $ 14.52 | $ 16.51 |
Equity-Based Compensation (Sche
Equity-Based Compensation (Schedule of LTIP Vesting Scenarios) (Details) | Aug. 30, 2018 |
Absolute TSR | Below Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Percentage of award earned | 0.00% |
Absolute TSR | Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 24.00% |
Percentage of award earned | 25.00% |
Absolute TSR | Target | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 30.00% |
Percentage of award earned | 50.00% |
Absolute TSR | Maximum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Percentage of award earned | 100.00% |
Absolute TSR | Minimum | Below Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 24.00% |
Absolute TSR | Minimum | Target | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 30.00% |
Absolute TSR | Minimum | Maximum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 36.00% |
Absolute TSR | Maximum | Below Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 24.00% |
Absolute TSR | Maximum | Target | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 30.00% |
Absolute TSR | Maximum | Maximum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Absolute TSR | 36.00% |
Relative TSR Excess | Below Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Percentage of award earned | 0.00% |
Relative TSR Excess | Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | (6.00%) |
Percentage of award earned | 25.00% |
Relative TSR Excess | Target | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | 0.00% |
Percentage of award earned | 50.00% |
Relative TSR Excess | Maximum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Percentage of award earned | 100.00% |
Relative TSR Excess | Minimum | Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | (6.00%) |
Relative TSR Excess | Minimum | Target | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | 0.00% |
Relative TSR Excess | Minimum | Maximum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | 6.00% |
Relative TSR Excess | Maximum | Below Threshold | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | (6.00%) |
Relative TSR Excess | Maximum | Target | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | 0.00% |
Relative TSR Excess | Maximum | Maximum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Relative performance of total shareholder return to peer group | 6.00% |
Net Loss Per Share (Details)
Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | Aug. 30, 2018 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Net loss attributable to common stockholders, basic | $ (46,650) | $ (3,101) | $ (37,409) | ||||||||||||
Net loss attributable to common stockholders, diluted | $ (46,650) | $ (3,101) | $ (37,409) | ||||||||||||
Basic and diluted weighted-average shares outstanding (in shares) | 108,404,093 | 106,397,296 | 105,560,053 | ||||||||||||
Basic and diluted net loss per share (in dollars per share) | $ (0.08) | $ (0.07) | $ (0.20) | $ (0.08) | $ (0.04) | $ (0.03) | $ 0.07 | $ (0.03) | $ (0.43) | $ (0.03) | $ (0.35) | ||||
Antidilutive shares (in shares) | 4,869,042 | 4,798,676 | 2,331,728 | ||||||||||||
OP units outstanding (in shares) | 172,921 | 172,921 | 172,921 | 172,921 | 172,921 | ||||||||||
Capital Unit, Class B | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Weighted average general partnership units outstanding (in shares) | 0 | 0 | 0 | ||||||||||||
LTIP Unit | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
LTIP units granted (in shares) | 4,496,796 | 4,496,796 | 4,496,796 | 4,496,796 | |||||||||||
Unvested Restricted Stock | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Unvested restricted shares (in shares) | 136,234 | 9,088 | |||||||||||||
Unvested Restricted Stock | Restricted Share Plan | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Unvested restricted shares (in shares) | 400,872 | 111,421 | 400,872 | 111,421 | 136,234 | 15,708 | |||||||||
LTIP units granted (in shares) | 127,402 | 361,943 | 34,588 | 127,402 | |||||||||||
Unvested Restricted Stock | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Antidilutive shares (in shares) | 199,325 | 128,959 | 52,847 | ||||||||||||
OP Units | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Antidilutive shares (in shares) | 172,921 | 172,921 | 189,737 | ||||||||||||
Class B Units | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Antidilutive shares (in shares) | 0 | 0 | 573,785 | ||||||||||||
LTIP Unit | |||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||||||
Antidilutive shares (in shares) | 4,496,796 | 4,496,796 | 1,515,359 |
Quarterly Results (Unaudited)_2
Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue from tenants | $ 77,237 | $ 78,489 | $ 74,934 | $ 74,564 | $ 76,231 | $ 72,863 | $ 79,109 | $ 71,541 | $ 305,224 | $ 299,744 | $ 291,207 |
Net loss attributable to common stockholders | $ (8,603) | $ (7,091) | $ (21,803) | $ (9,153) | $ (4,827) | $ (2,931) | $ 7,884 | $ (3,227) | |||
Basic weighted-average shares outstanding (in shares) | 108,436,329 | 108,429,315 | 108,386,013 | 108,364,082 | 107,286,620 | 106,139,668 | 106,075,741 | 106,076,588 | |||
Diluted weighted-average number of shares outstanding (in shares) | 108,436,329 | 108,429,315 | 108,386,013 | 108,364,082 | 107,286,620 | 106,139,668 | 106,394,277 | 106,076,588 | |||
Basic and diluted net loss per share (in dollars per share) | $ (0.08) | $ (0.07) | $ (0.20) | $ (0.08) | $ (0.04) | $ (0.03) | $ 0.07 | $ (0.03) | $ (0.43) | $ (0.03) | $ (0.35) |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) $ in Thousands | Jan. 13, 2021USD ($) | Oct. 04, 2019USD ($) | Jan. 31, 2021USD ($) | May 31, 2019USD ($) | Feb. 25, 2021USD ($)property | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Subsequent Event [Line Items] | |||||||
Issuance of new shares | $ (239) | $ 31,601 | |||||
Series C Preferred Stock | |||||||
Subsequent Event [Line Items] | |||||||
Issuance of new shares | $ 85,196 | ||||||
Maximum | Series A Cumulative Redeemable Perpetual Preferred Stock | Series A preferred Stock ATM Program | |||||||
Subsequent Event [Line Items] | |||||||
Issuance of new shares | $ 100,000 | $ 50,000 | |||||
Subsequent Event | |||||||
Subsequent Event [Line Items] | |||||||
Properties sold | property | 2 | ||||||
Aggregate contract sale price | $ 600 | ||||||
Subsequent Event | Maximum | Series A Cumulative Redeemable Perpetual Preferred Stock | Series A preferred Stock ATM Program | |||||||
Subsequent Event [Line Items] | |||||||
Issuance of new shares | $ 200,000 | $ 200,000 | |||||
Subsequent Event | Maximum | Series C Preferred Stock | Series C Preferred Stock ATM Program | |||||||
Subsequent Event [Line Items] | |||||||
Issuance of new shares | $ 200,000 |
Schedule III - Real Estate an_2
Schedule III - Real Estate and Accumulated Depreciation (Summary of Real Estate Properties) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 1,528,632 | |||
Land, Initial Cost | 725,751 | |||
Buildings and Improvements, Initial Cost | 2,806,163 | |||
Land, Costs Capitalized Subsequent to Acquisition | (2,435) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 24,345 | |||
Gross Amount | 3,553,824 | $ 3,367,374 | $ 3,070,852 | $ 3,056,695 |
Accumulated Depreciation | 454,227 | 369,450 | $ 311,214 | $ 256,771 |
Credit facility | 280,857 | 333,147 | ||
Acquired intangible lease assets | 454,245 | 448,175 | ||
Tax basis | 3,300,000 | |||
Accumulated amortization | 185,100 | |||
Encumbrances Allocated | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 1,341,738 | |||
Oconomowoc, WI | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 344 | |||
Buildings and Improvements, Initial Cost | 949 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,293 | |||
Accumulated Depreciation | 28 | |||
Reserve, LA | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 627 | |||
Buildings and Improvements, Initial Cost | 2,790 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,417 | |||
Accumulated Depreciation | 81 | |||
Clintwood, VA | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 29 | |||
Buildings and Improvements, Initial Cost | 478 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 507 | |||
Accumulated Depreciation | 12 | |||
Sylva, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 289 | |||
Buildings and Improvements, Initial Cost | 374 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 663 | |||
Accumulated Depreciation | 9 | |||
Humble, TX | DaVita III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 313 | |||
Buildings and Improvements, Initial Cost | 2,025 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,338 | |||
Accumulated Depreciation | 51 | |||
Birmingham, AL I | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 494 | |||
Buildings and Improvements, Initial Cost | 655 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,149 | |||
Accumulated Depreciation | 26 | |||
Charleston, SC | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 526 | |||
Buildings and Improvements, Initial Cost | 187 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 713 | |||
Accumulated Depreciation | 8 | |||
Columbia, SC I | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,842 | |||
Buildings and Improvements, Initial Cost | 3,491 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,333 | |||
Accumulated Depreciation | 95 | |||
Cordova, TN | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 638 | |||
Buildings and Improvements, Initial Cost | 807 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,445 | |||
Accumulated Depreciation | 24 | |||
Jackson, MS | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 928 | |||
Buildings and Improvements, Initial Cost | 918 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,846 | |||
Accumulated Depreciation | 33 | |||
Knoxville, TN I | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 488 | |||
Buildings and Improvements, Initial Cost | 527 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,015 | |||
Accumulated Depreciation | 16 | |||
Lawrenceville, GA | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 181 | |||
Buildings and Improvements, Initial Cost | 261 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 442 | |||
Accumulated Depreciation | 10 | |||
Louisville, KY I | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 885 | |||
Buildings and Improvements, Initial Cost | 4,845 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,730 | |||
Accumulated Depreciation | 117 | |||
Madison, TN I | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 419 | |||
Buildings and Improvements, Initial Cost | 317 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 736 | |||
Accumulated Depreciation | 13 | |||
Marietta, GA III | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 777 | |||
Buildings and Improvements, Initial Cost | 1,166 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,943 | |||
Accumulated Depreciation | 28 | |||
Pelham, AL | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,298 | |||
Buildings and Improvements, Initial Cost | 1,410 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,708 | |||
Accumulated Depreciation | 40 | |||
Pensacola, FL | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 944 | |||
Buildings and Improvements, Initial Cost | 576 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,520 | |||
Accumulated Depreciation | 16 | |||
Riverdale, GA II | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 484 | |||
Buildings and Improvements, Initial Cost | 722 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,206 | |||
Accumulated Depreciation | 24 | |||
Seminole, FL I | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,513 | |||
Buildings and Improvements, Initial Cost | 3,796 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,309 | |||
Accumulated Depreciation | 122 | |||
Springdale, AR | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 195 | |||
Buildings and Improvements, Initial Cost | 843 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,038 | |||
Accumulated Depreciation | 29 | |||
Tupelo, MS | American Car Center I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,108 | |||
Buildings and Improvements, Initial Cost | 3,259 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,367 | |||
Accumulated Depreciation | 96 | |||
Middleburg Height, OH | BJ's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,121 | |||
Buildings and Improvements, Initial Cost | 6,781 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 8,902 | |||
Accumulated Depreciation | 139 | |||
Austell, GA | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 500 | |||
Buildings and Improvements, Initial Cost | 2,254 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,754 | |||
Accumulated Depreciation | 73 | |||
Dalton, GA | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 496 | |||
Buildings and Improvements, Initial Cost | 2,772 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,268 | |||
Accumulated Depreciation | 81 | |||
Mobile, AL I | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 353 | |||
Buildings and Improvements, Initial Cost | 1,986 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,339 | |||
Accumulated Depreciation | 54 | |||
Murray, KY | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 363 | |||
Buildings and Improvements, Initial Cost | 3,613 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,976 | |||
Accumulated Depreciation | 93 | |||
Paducah, KY I | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 508 | |||
Buildings and Improvements, Initial Cost | 1,940 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,448 | |||
Accumulated Depreciation | 60 | |||
Paducah, KY II | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 239 | |||
Buildings and Improvements, Initial Cost | 766 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,005 | |||
Accumulated Depreciation | 19 | |||
Springville, UT | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 476 | |||
Buildings and Improvements, Initial Cost | 3,636 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,112 | |||
Accumulated Depreciation | 85 | |||
Stockbridge, GA I | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 544 | |||
Buildings and Improvements, Initial Cost | 2,301 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,845 | |||
Accumulated Depreciation | 60 | |||
Suwanee, GA | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,350 | |||
Buildings and Improvements, Initial Cost | 2,680 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,030 | |||
Accumulated Depreciation | 77 | |||
Spanish Fork, UT | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 670 | |||
Buildings and Improvements, Initial Cost | 4,943 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,613 | |||
Accumulated Depreciation | 115 | |||
Lawrenceville, GA I | Mammoth | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 725 | |||
Buildings and Improvements, Initial Cost | 2,382 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,107 | |||
Accumulated Depreciation | 59 | |||
Flint, MI VIII | DaVita IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 130 | |||
Buildings and Improvements, Initial Cost | 1,088 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,218 | |||
Accumulated Depreciation | 20 | |||
Niles, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 262 | |||
Buildings and Improvements, Initial Cost | 599 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 861 | |||
Accumulated Depreciation | 8 | |||
Gainesville, GA I | O'Charley's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 728 | |||
Buildings and Improvements, Initial Cost | 1,204 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,932 | |||
Accumulated Depreciation | 16 | |||
Shively, KY | O'Charley's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 637 | |||
Buildings and Improvements, Initial Cost | 1,318 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,955 | |||
Accumulated Depreciation | 18 | |||
Allendale, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 184 | |||
Buildings and Improvements, Initial Cost | 1,660 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,844 | |||
Accumulated Depreciation | 19 | |||
Alma, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 197 | |||
Buildings and Improvements, Initial Cost | 686 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 883 | |||
Accumulated Depreciation | 13 | |||
Bay City, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 175 | |||
Buildings and Improvements, Initial Cost | 853 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,028 | |||
Accumulated Depreciation | 14 | |||
Big Rapids, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 239 | |||
Buildings and Improvements, Initial Cost | 960 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,199 | |||
Accumulated Depreciation | 13 | |||
Big Rapids, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 234 | |||
Buildings and Improvements, Initial Cost | 699 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 933 | |||
Accumulated Depreciation | 11 | |||
Caro, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 256 | |||
Buildings and Improvements, Initial Cost | 613 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 869 | |||
Accumulated Depreciation | 14 | |||
Chesaning, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 774 | |||
Buildings and Improvements, Initial Cost | 639 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,413 | |||
Accumulated Depreciation | 12 | |||
Coopersville, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 62 | |||
Buildings and Improvements, Initial Cost | 460 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 522 | |||
Accumulated Depreciation | 7 | |||
East Lansing, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 259 | |||
Buildings and Improvements, Initial Cost | 338 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 597 | |||
Accumulated Depreciation | 6 | |||
Escanaba, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 814 | |||
Buildings and Improvements, Initial Cost | 573 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,387 | |||
Accumulated Depreciation | 8 | |||
Essexville, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 49 | |||
Buildings and Improvements, Initial Cost | 199 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 248 | |||
Accumulated Depreciation | 4 | |||
Flint, MI IX | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 274 | |||
Buildings and Improvements, Initial Cost | 407 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 681 | |||
Accumulated Depreciation | 8 | |||
Grand Rapids, MI III | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 237 | |||
Buildings and Improvements, Initial Cost | 500 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 737 | |||
Accumulated Depreciation | 12 | |||
Indianapolis, IN I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 105 | |||
Buildings and Improvements, Initial Cost | 104 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 209 | |||
Accumulated Depreciation | 2 | |||
Ionia, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 210 | |||
Buildings and Improvements, Initial Cost | 871 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,081 | |||
Accumulated Depreciation | 14 | |||
Lansing, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 270 | |||
Buildings and Improvements, Initial Cost | 1,005 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,275 | |||
Accumulated Depreciation | 16 | |||
Lansing, MI II | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 102 | |||
Buildings and Improvements, Initial Cost | 511 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 613 | |||
Accumulated Depreciation | 10 | |||
Lowell, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 213 | |||
Buildings and Improvements, Initial Cost | 1,297 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,510 | |||
Accumulated Depreciation | 20 | |||
Muskegon, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 81 | |||
Buildings and Improvements, Initial Cost | 550 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 631 | |||
Accumulated Depreciation | 9 | |||
Niles, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 421 | |||
Buildings and Improvements, Initial Cost | 445 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 866 | |||
Accumulated Depreciation | 7 | |||
Plainwell, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 276 | |||
Buildings and Improvements, Initial Cost | 637 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 913 | |||
Accumulated Depreciation | 10 | |||
Portage, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 125 | |||
Buildings and Improvements, Initial Cost | 616 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 741 | |||
Accumulated Depreciation | 10 | |||
Saginaw, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 367 | |||
Buildings and Improvements, Initial Cost | 833 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,200 | |||
Accumulated Depreciation | 15 | |||
Sault Ste Marie, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 193 | |||
Buildings and Improvements, Initial Cost | 563 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 756 | |||
Accumulated Depreciation | 10 | |||
Indianapolis, IN II | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 59 | |||
Buildings and Improvements, Initial Cost | 34 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 93 | |||
Accumulated Depreciation | 0 | |||
Spring Lake, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 206 | |||
Buildings and Improvements, Initial Cost | 1,394 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,600 | |||
Accumulated Depreciation | 21 | |||
Walker, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 430 | |||
Buildings and Improvements, Initial Cost | 508 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 938 | |||
Accumulated Depreciation | 11 | |||
West Lafayette, IN | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 379 | |||
Buildings and Improvements, Initial Cost | 342 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 721 | |||
Accumulated Depreciation | 7 | |||
Whitehall, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 146 | |||
Buildings and Improvements, Initial Cost | 368 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 514 | |||
Accumulated Depreciation | 7 | |||
Wyoming, MI | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 160 | |||
Buildings and Improvements, Initial Cost | 638 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 798 | |||
Accumulated Depreciation | 11 | |||
Wyoming, MI I | GPM | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 95 | |||
Buildings and Improvements, Initial Cost | 562 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 657 | |||
Accumulated Depreciation | 9 | |||
Grand Prairie, TX | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 443 | |||
Buildings and Improvements, Initial Cost | 3,143 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,586 | |||
Accumulated Depreciation | 33 | |||
New Orleans, LA I | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 61 | |||
Buildings and Improvements, Initial Cost | 3,498 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,559 | |||
Accumulated Depreciation | 34 | |||
Chickasha, OK | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 622 | |||
Buildings and Improvements, Initial Cost | 2,916 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,538 | |||
Accumulated Depreciation | 31 | |||
Chickasha, OK I | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 353 | |||
Buildings and Improvements, Initial Cost | 3,206 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,559 | |||
Accumulated Depreciation | 31 | |||
Gulfport, MS IV | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 370 | |||
Buildings and Improvements, Initial Cost | 1,677 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,047 | |||
Accumulated Depreciation | 23 | |||
Gulfport, MS V | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 248 | |||
Buildings and Improvements, Initial Cost | 2,897 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,145 | |||
Accumulated Depreciation | 25 | |||
Dadeville, AL I | Fresenius IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 504 | |||
Buildings and Improvements, Initial Cost | 1,164 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,668 | |||
Accumulated Depreciation | 3 | |||
Jackson, AL | Fresenius IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 851 | |||
Buildings and Improvements, Initial Cost | 1,383 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,234 | |||
Accumulated Depreciation | 5 | |||
Newton, MS | Fresenius IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 235 | |||
Buildings and Improvements, Initial Cost | 2,954 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,189 | |||
Accumulated Depreciation | 7 | |||
Philadelphia, MS | Fresenius IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 335 | |||
Buildings and Improvements, Initial Cost | 2,512 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,847 | |||
Accumulated Depreciation | 6 | |||
Port Gibson, MS | Fresenius IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 190 | |||
Buildings and Improvements, Initial Cost | 1,132 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,322 | |||
Accumulated Depreciation | 3 | |||
Tallassee, AL | Fresenius IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 876 | |||
Buildings and Improvements, Initial Cost | 2,229 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,105 | |||
Accumulated Depreciation | 6 | |||
Addis, LA | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 2,008 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,222 | |||
Accumulated Depreciation | 4 | |||
Picayune, MS | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 91 | |||
Buildings and Improvements, Initial Cost | 3,099 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,190 | |||
Accumulated Depreciation | 7 | |||
Lake Charles, LA V | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 273 | |||
Buildings and Improvements, Initial Cost | 2,002 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,275 | |||
Accumulated Depreciation | 5 | |||
Lake Charles, LA VI | IMTAA II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 413 | |||
Buildings and Improvements, Initial Cost | 1,862 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,275 | |||
Accumulated Depreciation | 5 | |||
Albion, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 30 | |||
Buildings and Improvements, Initial Cost | 397 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 427 | |||
Accumulated Depreciation | 1 | |||
Central City, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 295 | |||
Buildings and Improvements, Initial Cost | 2,246 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,541 | |||
Accumulated Depreciation | 6 | |||
Cisne, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 175 | |||
Buildings and Improvements, Initial Cost | 993 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,168 | |||
Accumulated Depreciation | 3 | |||
Harrisburg, IL I | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 248 | |||
Buildings and Improvements, Initial Cost | 637 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 885 | |||
Accumulated Depreciation | 3 | |||
Metropolis, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 839 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,103 | |||
Accumulated Depreciation | 3 | |||
Pickneyville, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 337 | |||
Buildings and Improvements, Initial Cost | 1,097 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,434 | |||
Accumulated Depreciation | 3 | |||
Salem, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 59 | |||
Buildings and Improvements, Initial Cost | 207 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 266 | |||
Accumulated Depreciation | 1 | |||
Stewardson, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 30 | |||
Buildings and Improvements, Initial Cost | 384 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 414 | |||
Accumulated Depreciation | 1 | |||
Wayne City, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 61 | |||
Buildings and Improvements, Initial Cost | 1,041 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,102 | |||
Accumulated Depreciation | 3 | |||
Xenia, IL | Kalma Kaur | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 39 | |||
Buildings and Improvements, Initial Cost | 376 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 415 | |||
Accumulated Depreciation | 1 | |||
Andrews, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 72 | |||
Buildings and Improvements, Initial Cost | 694 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 766 | |||
Accumulated Depreciation | 0 | |||
Batesburg, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 72 | |||
Buildings and Improvements, Initial Cost | 1,127 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,199 | |||
Accumulated Depreciation | 0 | |||
Bishopville, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 87 | |||
Buildings and Improvements, Initial Cost | 806 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 893 | |||
Accumulated Depreciation | 0 | |||
Cheraw, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 223 | |||
Buildings and Improvements, Initial Cost | 708 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 931 | |||
Accumulated Depreciation | 0 | |||
Florence, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 113 | |||
Buildings and Improvements, Initial Cost | 2,190 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,303 | |||
Accumulated Depreciation | 0 | |||
Florence, SC I | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 120 | |||
Buildings and Improvements, Initial Cost | 898 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,018 | |||
Accumulated Depreciation | 0 | |||
Florence, SC II | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 144 | |||
Buildings and Improvements, Initial Cost | 2,641 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,785 | |||
Accumulated Depreciation | 0 | |||
Fort Lawn, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 119 | |||
Buildings and Improvements, Initial Cost | 1,640 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,759 | |||
Accumulated Depreciation | 0 | |||
Fountain Inn, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 131 | |||
Buildings and Improvements, Initial Cost | 921 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,052 | |||
Accumulated Depreciation | 0 | |||
Johnsonville, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 110 | |||
Buildings and Improvements, Initial Cost | 779 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 889 | |||
Accumulated Depreciation | 0 | |||
Kingstree, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 217 | |||
Buildings and Improvements, Initial Cost | 1,989 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,206 | |||
Accumulated Depreciation | 0 | |||
Lake City, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 80 | |||
Buildings and Improvements, Initial Cost | 1,228 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,308 | |||
Accumulated Depreciation | 0 | |||
Lugoff, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 59 | |||
Buildings and Improvements, Initial Cost | 943 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,002 | |||
Accumulated Depreciation | 0 | |||
Manning, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 121 | |||
Buildings and Improvements, Initial Cost | 888 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,009 | |||
Accumulated Depreciation | 0 | |||
Myrtle Beach, SC | Dialysis III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 397 | |||
Buildings and Improvements, Initial Cost | 1,560 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,957 | |||
Accumulated Depreciation | 0 | |||
Gross mortgage notes payable | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 1,528,632 | 1,323,454 | ||
Gross mortgage notes payable | SAAB Sensis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 6,217 | 6,660 | ||
Gross mortgage notes payable | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 9,560 | 10,860 | ||
Gross mortgage notes payable | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 60,952 | 62,228 | ||
Gross mortgage notes payable | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 3,792 | 6,626 | ||
Gross mortgage notes payable | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 45,000 | 45,000 | ||
Gross mortgage notes payable | Patton Creek | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 34,000 | 39,147 | ||
Gross mortgage notes payable | Shops at Shelby Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 21,677 | 22,139 | ||
Gross mortgage notes payable | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 23,950 | 23,950 | ||
Mortgage Loan I | Gross mortgage notes payable | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 0 | 497,150 | ||
Mortgage Loan II | Gross mortgage notes payable | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 210,000 | 210,000 | ||
Mortgage Loan III | Gross mortgage notes payable | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 33,400 | 33,400 | ||
Net Lease Mortgage Note | Gross mortgage notes payable | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 240,084 | 241,294 | ||
Column Financial Mortgage Notes | Gross mortgage notes payable | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Outstanding loan amount | 715,000 | 0 | ||
Retail Site | Mission, TX | Dollar General I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 142 | |||
Buildings and Improvements, Initial Cost | 807 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 949 | |||
Accumulated Depreciation | 287 | |||
Retail Site | Sullivan, MO | Dollar General I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 146 | |||
Buildings and Improvements, Initial Cost | 825 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 971 | |||
Accumulated Depreciation | 293 | |||
Retail Site | Pine Bluff, AR | Walgreens I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 159 | |||
Buildings and Improvements, Initial Cost | 3,016 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,175 | |||
Accumulated Depreciation | 1,131 | |||
Retail Site | Bogalusa, LA | Dollar General II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 107 | |||
Buildings and Improvements, Initial Cost | 965 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount | 1,073 | |||
Accumulated Depreciation | 339 | |||
Retail Site | Donaldsonville, LA | Dollar General II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 97 | |||
Buildings and Improvements, Initial Cost | 871 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 968 | |||
Accumulated Depreciation | 306 | |||
Retail Site | Cut Off, LA | AutoZone I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 67 | |||
Buildings and Improvements, Initial Cost | 1,282 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,349 | |||
Accumulated Depreciation | 447 | |||
Retail Site | Athens, MI | Dollar General III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 48 | |||
Buildings and Improvements, Initial Cost | 907 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 955 | |||
Accumulated Depreciation | 317 | |||
Retail Site | Fowler, MI | Dollar General III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 49 | |||
Buildings and Improvements, Initial Cost | 940 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 989 | |||
Accumulated Depreciation | 328 | |||
Retail Site | Hudson, MI | Dollar General III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 102 | |||
Buildings and Improvements, Initial Cost | 922 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,024 | |||
Accumulated Depreciation | 322 | |||
Retail Site | Muskegon, MI | Dollar General III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 49 | |||
Buildings and Improvements, Initial Cost | 939 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 988 | |||
Accumulated Depreciation | 328 | |||
Retail Site | Reese, MI | Dollar General III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 150 | |||
Buildings and Improvements, Initial Cost | 848 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 998 | |||
Accumulated Depreciation | 296 | |||
Retail Site | Ft Myers, FL | BSFS I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,215 | |||
Buildings and Improvements, Initial Cost | 1,822 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,037 | |||
Accumulated Depreciation | 687 | |||
Retail Site | Bainbridge, GA | Dollar General IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 233 | |||
Buildings and Improvements, Initial Cost | 700 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 933 | |||
Accumulated Depreciation | 244 | |||
Retail Site | Vanleer, TN | Dollar General IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 78 | |||
Buildings and Improvements, Initial Cost | 705 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 783 | |||
Accumulated Depreciation | 246 | |||
Retail Site | Vernon, CT | Tractor Supply I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 358 | |||
Buildings and Improvements, Initial Cost | 3,220 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,578 | |||
Accumulated Depreciation | 1,030 | |||
Retail Site | Meruax, LA | Dollar General V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 708 | |||
Buildings and Improvements, Initial Cost | 1,315 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,023 | |||
Accumulated Depreciation | 459 | |||
Retail Site | Tallahassee, FL | Mattress Firm I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,015 | |||
Buildings and Improvements, Initial Cost | 1,241 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,256 | |||
Accumulated Depreciation | 433 | |||
Retail Site | Butler, KY | Family Dollar I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 126 | |||
Buildings and Improvements, Initial Cost | 711 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 837 | |||
Accumulated Depreciation | 248 | |||
Retail Site | Fayetteville, NC | Lowe's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 0 | |||
Buildings and Improvements, Initial Cost | 6,422 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 6,422 | |||
Accumulated Depreciation | 2,072 | |||
Retail Site | Macon, GA | Lowe's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 0 | |||
Buildings and Improvements, Initial Cost | 8,420 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 8,420 | |||
Accumulated Depreciation | 2,716 | |||
Retail Site | New Bern, NC | Lowe's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,812 | |||
Buildings and Improvements, Initial Cost | 10,269 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 12,081 | |||
Accumulated Depreciation | 3,313 | |||
Retail Site | Rocky MT, NC | Lowe's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,931 | |||
Buildings and Improvements, Initial Cost | 10,940 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 12,871 | |||
Accumulated Depreciation | 3,529 | |||
Retail Site | Manitowoc, WI | O'Reilly Auto Parts I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 85 | |||
Buildings and Improvements, Initial Cost | 761 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 846 | |||
Accumulated Depreciation | 264 | |||
Retail Site | Charlotte, NC | Food Lion I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,132 | |||
Buildings and Improvements, Initial Cost | 4,697 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 7,829 | |||
Accumulated Depreciation | 1,496 | |||
Retail Site | Danville, AR | Family Dollar II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 170 | |||
Buildings and Improvements, Initial Cost | 679 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 849 | |||
Accumulated Depreciation | 235 | |||
Retail Site | Aiken, SC | Lowe's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,764 | |||
Buildings and Improvements, Initial Cost | 7,056 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 8,820 | |||
Accumulated Depreciation | 2,272 | |||
Retail Site | Gasburg, VA | Dollar General VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 52 | |||
Buildings and Improvements, Initial Cost | 993 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,045 | |||
Accumulated Depreciation | 344 | |||
Retail Site | Natalbany, LA | Dollar General VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 379 | |||
Buildings and Improvements, Initial Cost | 883 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,262 | |||
Accumulated Depreciation | 306 | |||
Retail Site | Tucker, GA | Walgreens II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 0 | |||
Buildings and Improvements, Initial Cost | 2,524 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,524 | |||
Accumulated Depreciation | 934 | |||
Retail Site | Challis, ID | Family Dollar III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 44 | |||
Buildings and Improvements, Initial Cost | 828 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 872 | |||
Accumulated Depreciation | 287 | |||
Retail Site | Lake Jackson, TX | Chili's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 746 | |||
Buildings and Improvements, Initial Cost | 1,741 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,487 | |||
Accumulated Depreciation | 736 | |||
Retail Site | Victoria, TX | Chili's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 813 | |||
Buildings and Improvements, Initial Cost | 1,897 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,710 | |||
Accumulated Depreciation | 802 | |||
Retail Site | Anniston, AL | CVS I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 472 | |||
Buildings and Improvements, Initial Cost | 1,887 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,359 | |||
Accumulated Depreciation | 698 | |||
Retail Site | Westminster, CO | Joe's Crab Shack I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,136 | |||
Buildings and Improvements, Initial Cost | 2,650 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,786 | |||
Accumulated Depreciation | 1,121 | |||
Retail Site | Lake Wales, FL | Tire Kingdom I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 556 | |||
Buildings and Improvements, Initial Cost | 1,296 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,852 | |||
Accumulated Depreciation | 485 | |||
Retail Site | Temple, GA | AutoZone II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 569 | |||
Buildings and Improvements, Initial Cost | 854 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,423 | |||
Accumulated Depreciation | 296 | |||
Retail Site | Stanleytown, VA | Dollar General VIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 185 | |||
Buildings and Improvements, Initial Cost | 1,049 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,234 | |||
Accumulated Depreciation | 364 | |||
Retail Site | Oil City, LA | Family Dollar IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 76 | |||
Buildings and Improvements, Initial Cost | 685 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 761 | |||
Accumulated Depreciation | 237 | |||
Retail Site | Montevalo, AL | Fresenius I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Land, Initial Cost | 300 | |||
Buildings and Improvements, Initial Cost | 1,699 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,999 | |||
Accumulated Depreciation | 514 | |||
Retail Site | Mabelvale, AR | Dollar General IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 38 | |||
Buildings and Improvements, Initial Cost | 723 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 761 | |||
Accumulated Depreciation | 250 | |||
Retail Site | Angola, IN | Advance Auto I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 35 | |||
Buildings and Improvements, Initial Cost | 671 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 706 | |||
Accumulated Depreciation | 231 | |||
Retail Site | Hernando, MS | Arby's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 624 | |||
Buildings and Improvements, Initial Cost | 1,455 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,079 | |||
Accumulated Depreciation | 612 | |||
Retail Site | Holyoke, MA | CVS II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 0 | |||
Buildings and Improvements, Initial Cost | 2,258 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,258 | |||
Accumulated Depreciation | 830 | |||
Retail Site | Lansing, MI | Walgreens III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 216 | |||
Buildings and Improvements, Initial Cost | 4,099 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,315 | |||
Accumulated Depreciation | 1,507 | |||
Retail Site | Beaumont, TX | Walgreens IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 499 | |||
Buildings and Improvements, Initial Cost | 1,995 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,494 | |||
Accumulated Depreciation | 733 | |||
Retail Site | Greenwell Springs, LA | Dollar General X | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 114 | |||
Buildings and Improvements, Initial Cost | 1,029 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,143 | |||
Accumulated Depreciation | 354 | |||
Retail Site | San Antonio, TX | National Tire & Battery I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 577 | |||
Buildings and Improvements, Initial Cost | 577 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,154 | |||
Accumulated Depreciation | 214 | |||
Retail Site | Atlanta, GA | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 570 | |||
Buildings and Improvements, Initial Cost | 1,152 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,722 | |||
Accumulated Depreciation | 380 | |||
Retail Site | Cary, NC | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 370 | |||
Buildings and Improvements, Initial Cost | 841 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,211 | |||
Accumulated Depreciation | 277 | |||
Retail Site | Chattanooga, TN | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 220 | |||
Buildings and Improvements, Initial Cost | 781 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 10 | |||
Gross Amount | 1,011 | |||
Accumulated Depreciation | 258 | |||
Retail Site | Doswell, VA | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 190 | |||
Buildings and Improvements, Initial Cost | 510 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 700 | |||
Accumulated Depreciation | 168 | |||
Retail Site | Ft Pierce, FL | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 720 | |||
Buildings and Improvements, Initial Cost | 1,434 | |||
Land, Costs Capitalized Subsequent to Acquisition | (161) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | (248) | |||
Gross Amount | 1,745 | |||
Accumulated Depreciation | 441 | |||
Retail Site | Nashville, TN | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 190 | |||
Buildings and Improvements, Initial Cost | 666 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 856 | |||
Accumulated Depreciation | 220 | |||
Retail Site | New Market, VA | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 330 | |||
Buildings and Improvements, Initial Cost | 948 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,278 | |||
Accumulated Depreciation | 313 | |||
Retail Site | New Smyrna Beach, FL | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 740 | |||
Buildings and Improvements, Initial Cost | 2,859 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,599 | |||
Accumulated Depreciation | 943 | |||
Retail Site | Oak Ridge, TN | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 500 | |||
Buildings and Improvements, Initial Cost | 1,277 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount | 1,786 | |||
Accumulated Depreciation | 421 | |||
Retail Site | Orlando, FL | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 410 | |||
Buildings and Improvements, Initial Cost | 2,078 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,488 | |||
Accumulated Depreciation | 686 | |||
Retail Site | Orlando, FL II | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 540 | |||
Buildings and Improvements, Initial Cost | 3,069 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,609 | |||
Accumulated Depreciation | 1,013 | |||
Retail Site | Savannah, TN | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 390 | |||
Buildings and Improvements, Initial Cost | 1,179 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,569 | |||
Accumulated Depreciation | 389 | |||
Retail Site | Stokesdale, NC | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 230 | |||
Buildings and Improvements, Initial Cost | 581 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 811 | |||
Accumulated Depreciation | 192 | |||
Retail Site | Summerfield, NC | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 210 | |||
Buildings and Improvements, Initial Cost | 605 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 815 | |||
Accumulated Depreciation | 199 | |||
Retail Site | Thomson, GA | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 480 | |||
Buildings and Improvements, Initial Cost | 1,015 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,495 | |||
Accumulated Depreciation | 335 | |||
Retail Site | Vinton, VA | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 120 | |||
Buildings and Improvements, Initial Cost | 366 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 486 | |||
Accumulated Depreciation | 121 | |||
Retail Site | Washington DC | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 590 | |||
Buildings and Improvements, Initial Cost | 2,366 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,956 | |||
Accumulated Depreciation | 781 | |||
Retail Site | Waycross, GA | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 300 | |||
Buildings and Improvements, Initial Cost | 1,425 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,725 | |||
Accumulated Depreciation | 470 | |||
Retail Site | Waynesville, NC | Trust Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 200 | |||
Buildings and Improvements, Initial Cost | 874 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,074 | |||
Accumulated Depreciation | 288 | |||
Retail Site | Aledo, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 427 | |||
Buildings and Improvements, Initial Cost | 1,709 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,136 | |||
Accumulated Depreciation | 588 | |||
Retail Site | Bedford, OH | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 702 | |||
Buildings and Improvements, Initial Cost | 702 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,404 | |||
Accumulated Depreciation | 242 | |||
Retail Site | Bloomington, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 395 | |||
Buildings and Improvements, Initial Cost | 592 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 987 | |||
Accumulated Depreciation | 204 | |||
Retail Site | Bloomington, IL II | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 316 | |||
Buildings and Improvements, Initial Cost | 586 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 902 | |||
Accumulated Depreciation | 202 | |||
Retail Site | Burlington, IA | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 224 | |||
Buildings and Improvements, Initial Cost | 523 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 747 | |||
Accumulated Depreciation | 180 | |||
Retail Site | Champaign, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 412 | |||
Buildings and Improvements, Initial Cost | 504 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 916 | |||
Accumulated Depreciation | 173 | |||
Retail Site | Clinton, IA | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 334 | |||
Buildings and Improvements, Initial Cost | 779 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,113 | |||
Accumulated Depreciation | 268 | |||
Retail Site | Galesburg, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 355 | |||
Buildings and Improvements, Initial Cost | 829 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,184 | |||
Accumulated Depreciation | 285 | |||
Retail Site | Jacksonville, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 316 | |||
Buildings and Improvements, Initial Cost | 474 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 790 | |||
Accumulated Depreciation | 163 | |||
Retail Site | Jacksonville, IL II | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 351 | |||
Buildings and Improvements, Initial Cost | 818 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,169 | |||
Accumulated Depreciation | 282 | |||
Retail Site | Lafayette, IN | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 401 | |||
Buildings and Improvements, Initial Cost | 746 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,147 | |||
Accumulated Depreciation | 257 | |||
Retail Site | Mattoon, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 608 | |||
Buildings and Improvements, Initial Cost | 1,129 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,737 | |||
Accumulated Depreciation | 389 | |||
Retail Site | Morton, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 350 | |||
Buildings and Improvements, Initial Cost | 525 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 875 | |||
Accumulated Depreciation | 181 | |||
Retail Site | Muscatine, IA | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 274 | |||
Buildings and Improvements, Initial Cost | 821 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,095 | |||
Accumulated Depreciation | 283 | |||
Retail Site | Paris, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 429 | |||
Buildings and Improvements, Initial Cost | 797 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,226 | |||
Accumulated Depreciation | 275 | |||
Retail Site | Staunton, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 467 | |||
Buildings and Improvements, Initial Cost | 1,867 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,334 | |||
Accumulated Depreciation | 643 | |||
Retail Site | Streetsboro, OH | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 540 | |||
Buildings and Improvements, Initial Cost | 540 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,080 | |||
Accumulated Depreciation | 186 | |||
Retail Site | Vandalia, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 529 | |||
Buildings and Improvements, Initial Cost | 983 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,512 | |||
Accumulated Depreciation | 338 | |||
Retail Site | Vandalia, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 182 | |||
Buildings and Improvements, Initial Cost | 728 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 910 | |||
Accumulated Depreciation | 258 | |||
Retail Site | Virden, IL | Circle K I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 302 | |||
Buildings and Improvements, Initial Cost | 1,208 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,510 | |||
Accumulated Depreciation | 416 | |||
Retail Site | Gillette, WY | Walgreens VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,198 | |||
Buildings and Improvements, Initial Cost | 2,796 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,994 | |||
Accumulated Depreciation | 1,027 | |||
Retail Site | Oklahoma City, OK | Walgreens V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,295 | |||
Buildings and Improvements, Initial Cost | 3,884 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,179 | |||
Accumulated Depreciation | 1,427 | |||
Retail Site | Highstown, NJ | 1st Constitution Bancorp I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 260 | |||
Buildings and Improvements, Initial Cost | 1,471 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,731 | |||
Accumulated Depreciation | 485 | |||
Retail Site | Chattanoga, TN | Krystal I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 285 | |||
Buildings and Improvements, Initial Cost | 855 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,140 | |||
Accumulated Depreciation | 360 | |||
Retail Site | Cleveland, TN | Krystal I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 207 | |||
Buildings and Improvements, Initial Cost | 1,171 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,378 | |||
Accumulated Depreciation | 493 | |||
Retail Site | Columbus, GA | Krystal I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 143 | |||
Buildings and Improvements, Initial Cost | 1,288 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,431 | |||
Accumulated Depreciation | 542 | |||
Retail Site | Ft. Oglethorpe, GA | Krystal I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 181 | |||
Buildings and Improvements, Initial Cost | 1,024 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,205 | |||
Accumulated Depreciation | 431 | |||
Retail Site | Jacksonville, FL | Krystal I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 533 | |||
Buildings and Improvements, Initial Cost | 799 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,332 | |||
Accumulated Depreciation | 336 | |||
Retail Site | Madison, TN | Krystal I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 416 | |||
Buildings and Improvements, Initial Cost | 624 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,040 | |||
Accumulated Depreciation | 263 | |||
Retail Site | Carrollton, GA | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 457 | |||
Buildings and Improvements, Initial Cost | 1,067 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,524 | |||
Accumulated Depreciation | 449 | |||
Retail Site | Champaign, IL II | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 256 | |||
Buildings and Improvements, Initial Cost | 1,449 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,705 | |||
Accumulated Depreciation | 610 | |||
Retail Site | Clarksville, TN | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 917 | |||
Buildings and Improvements, Initial Cost | 1,376 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,293 | |||
Accumulated Depreciation | 579 | |||
Retail Site | Columbus, OH | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 271 | |||
Buildings and Improvements, Initial Cost | 1,533 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,804 | |||
Accumulated Depreciation | 645 | |||
Retail Site | Conyers, GA | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 373 | |||
Buildings and Improvements, Initial Cost | 2,113 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,486 | |||
Accumulated Depreciation | 888 | |||
Retail Site | Corydon, IN | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 260 | |||
Buildings and Improvements, Initial Cost | 1,473 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,733 | |||
Accumulated Depreciation | 619 | |||
Retail Site | Daphne, AL | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 142 | |||
Buildings and Improvements, Initial Cost | 1,275 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,417 | |||
Accumulated Depreciation | 536 | |||
Retail Site | Foley, AL | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 1,495 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,759 | |||
Accumulated Depreciation | 629 | |||
Retail Site | Greenfield, IN | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 507 | |||
Buildings and Improvements, Initial Cost | 1,184 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,691 | |||
Accumulated Depreciation | 498 | |||
Retail Site | Grove City, OH | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 387 | |||
Buildings and Improvements, Initial Cost | 1,546 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,933 | |||
Accumulated Depreciation | 650 | |||
Retail Site | Hattiesburg, MS | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 413 | |||
Buildings and Improvements, Initial Cost | 1,651 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,064 | |||
Accumulated Depreciation | 694 | |||
Retail Site | Lake Charles, LA | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,118 | |||
Buildings and Improvements, Initial Cost | 1,367 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,485 | |||
Accumulated Depreciation | 575 | |||
Retail Site | McDonough, GA | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 335 | |||
Buildings and Improvements, Initial Cost | 1,898 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,233 | |||
Accumulated Depreciation | 798 | |||
Retail Site | Murfreesboro, TN | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 597 | |||
Buildings and Improvements, Initial Cost | 1,109 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,706 | |||
Accumulated Depreciation | 466 | |||
Retail Site | Salisbury, NC | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 439 | |||
Buildings and Improvements, Initial Cost | 1,024 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,463 | |||
Accumulated Depreciation | 431 | |||
Retail Site | Simpsonville, SC | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 349 | |||
Buildings and Improvements, Initial Cost | 1,395 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,744 | |||
Accumulated Depreciation | 586 | |||
Retail Site | Southaven, MS | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 836 | |||
Buildings and Improvements, Initial Cost | 1,553 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,389 | |||
Accumulated Depreciation | 653 | |||
Retail Site | Springfield, OH | O'Charley's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 262 | |||
Buildings and Improvements, Initial Cost | 1,484 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,746 | |||
Accumulated Depreciation | 624 | |||
Retail Site | Alton, IL | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,158 | |||
Buildings and Improvements, Initial Cost | 3,474 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,632 | |||
Accumulated Depreciation | 1,277 | |||
Retail Site | Florissant, MO | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 561 | |||
Buildings and Improvements, Initial Cost | 1,309 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,870 | |||
Accumulated Depreciation | 481 | |||
Retail Site | Florissant, MO II | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 474 | |||
Buildings and Improvements, Initial Cost | 1,422 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,896 | |||
Accumulated Depreciation | 523 | |||
Retail Site | Mahomet, IL | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,432 | |||
Buildings and Improvements, Initial Cost | 2,659 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,091 | |||
Accumulated Depreciation | 977 | |||
Retail Site | Monroe, MI | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,149 | |||
Buildings and Improvements, Initial Cost | 2,680 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,829 | |||
Accumulated Depreciation | 985 | |||
Retail Site | Springfield, IL | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,319 | |||
Buildings and Improvements, Initial Cost | 3,077 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,396 | |||
Accumulated Depreciation | 1,131 | |||
Retail Site | St. Louis, MO | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 903 | |||
Buildings and Improvements, Initial Cost | 2,107 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,010 | |||
Accumulated Depreciation | 774 | |||
Retail Site | Washington, IL | Walgreens VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 964 | |||
Buildings and Improvements, Initial Cost | 2,893 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,857 | |||
Accumulated Depreciation | 1,063 | |||
Retail Site | Houghton, MI | Tractor Supply II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 204 | |||
Buildings and Improvements, Initial Cost | 1,158 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,362 | |||
Accumulated Depreciation | 364 | |||
Retail Site | Mundelein, IL | National Tire & Battery II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 0 | |||
Buildings and Improvements, Initial Cost | 1,742 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,742 | |||
Accumulated Depreciation | 646 | |||
Retail Site | Harlan, KY | Tractor Supply III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 248 | |||
Buildings and Improvements, Initial Cost | 2,232 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,480 | |||
Accumulated Depreciation | 695 | |||
Retail Site | Knoxville, TN | Mattress Firm II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 189 | |||
Buildings and Improvements, Initial Cost | 754 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 943 | |||
Accumulated Depreciation | 258 | |||
Retail Site | Greenville, MS | Dollar General XI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 192 | |||
Buildings and Improvements, Initial Cost | 769 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 961 | |||
Accumulated Depreciation | 263 | |||
Retail Site | Montclair, NJ | Fresenius II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,214 | |||
Buildings and Improvements, Initial Cost | 2,255 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,469 | |||
Accumulated Depreciation | 672 | |||
Retail Site | Sharon Hill, PA | Fresenius II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 345 | |||
Buildings and Improvements, Initial Cost | 1,956 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,301 | |||
Accumulated Depreciation | 582 | |||
Retail Site | Le Center, MN | Dollar General XII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 47 | |||
Buildings and Improvements, Initial Cost | 886 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 933 | |||
Accumulated Depreciation | 303 | |||
Retail Site | Bunnell, FL | Advance Auto II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 92 | |||
Buildings and Improvements, Initial Cost | 1,741 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,833 | |||
Accumulated Depreciation | 595 | |||
Retail Site | Washington, GA | Advance Auto II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 55 | |||
Buildings and Improvements, Initial Cost | 1,042 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,097 | |||
Accumulated Depreciation | 356 | |||
Retail Site | Vidor, TX | Dollar General XIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 46 | |||
Buildings and Improvements, Initial Cost | 875 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 921 | |||
Accumulated Depreciation | 299 | |||
Retail Site | Algonquin, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 798 | |||
Buildings and Improvements, Initial Cost | 798 | |||
Land, Costs Capitalized Subsequent to Acquisition | (142) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,454 | |||
Accumulated Depreciation | 282 | |||
Retail Site | Antioch, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 706 | |||
Buildings and Improvements, Initial Cost | 471 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,177 | |||
Accumulated Depreciation | 167 | |||
Retail Site | Austintown, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 221 | |||
Buildings and Improvements, Initial Cost | 1,251 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,472 | |||
Accumulated Depreciation | 443 | |||
Retail Site | Beavercreek, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 410 | |||
Buildings and Improvements, Initial Cost | 761 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,171 | |||
Accumulated Depreciation | 269 | |||
Retail Site | Bethel Park, PA | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 342 | |||
Buildings and Improvements, Initial Cost | 634 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 976 | |||
Accumulated Depreciation | 224 | |||
Retail Site | Celina, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 233 | |||
Buildings and Improvements, Initial Cost | 932 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,165 | |||
Accumulated Depreciation | 330 | |||
Retail Site | Chardon, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 332 | |||
Buildings and Improvements, Initial Cost | 497 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 829 | |||
Accumulated Depreciation | 176 | |||
Retail Site | Chesterland, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 320 | |||
Buildings and Improvements, Initial Cost | 747 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,067 | |||
Accumulated Depreciation | 264 | |||
Retail Site | Columbiana, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 581 | |||
Buildings and Improvements, Initial Cost | 871 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,452 | |||
Accumulated Depreciation | 308 | |||
Retail Site | Cortland, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 118 | |||
Buildings and Improvements, Initial Cost | 1,063 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,181 | |||
Accumulated Depreciation | 376 | |||
Retail Site | Crystal Lake, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 541 | |||
Buildings and Improvements, Initial Cost | 232 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 773 | |||
Accumulated Depreciation | 82 | |||
Retail Site | Dayton, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 464 | |||
Buildings and Improvements, Initial Cost | 862 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,326 | |||
Accumulated Depreciation | 305 | |||
Retail Site | Fairborn, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 421 | |||
Buildings and Improvements, Initial Cost | 982 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,403 | |||
Accumulated Depreciation | 347 | |||
Retail Site | Girard, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 421 | |||
Buildings and Improvements, Initial Cost | 1,264 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,685 | |||
Accumulated Depreciation | 447 | |||
Retail Site | Grayslake, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 582 | |||
Buildings and Improvements, Initial Cost | 476 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,058 | |||
Accumulated Depreciation | 169 | |||
Retail Site | Greenville, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 248 | |||
Buildings and Improvements, Initial Cost | 993 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,241 | |||
Accumulated Depreciation | 351 | |||
Retail Site | Gurnee, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 931 | |||
Buildings and Improvements, Initial Cost | 931 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,862 | |||
Accumulated Depreciation | 329 | |||
Retail Site | Madison, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 282 | |||
Buildings and Improvements, Initial Cost | 845 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,127 | |||
Accumulated Depreciation | 299 | |||
Retail Site | McHenry, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 742 | |||
Buildings and Improvements, Initial Cost | 318 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,060 | |||
Accumulated Depreciation | 113 | |||
Retail Site | Mentor, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 196 | |||
Buildings and Improvements, Initial Cost | 786 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 982 | |||
Accumulated Depreciation | 278 | |||
Retail Site | Niles, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 304 | |||
Buildings and Improvements, Initial Cost | 1,214 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,518 | |||
Accumulated Depreciation | 430 | |||
Retail Site | North Fayette, PA | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 463 | |||
Buildings and Improvements, Initial Cost | 1,388 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,851 | |||
Accumulated Depreciation | 491 | |||
Retail Site | North Royalton, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 156 | |||
Buildings and Improvements, Initial Cost | 886 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,042 | |||
Accumulated Depreciation | 314 | |||
Retail Site | N Versailles, PA | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 553 | |||
Buildings and Improvements, Initial Cost | 1,659 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,212 | |||
Accumulated Depreciation | 587 | |||
Retail Site | Painesville, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 170 | |||
Buildings and Improvements, Initial Cost | 965 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,135 | |||
Accumulated Depreciation | 341 | |||
Retail Site | Poland, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 212 | |||
Buildings and Improvements, Initial Cost | 847 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,059 | |||
Accumulated Depreciation | 300 | |||
Retail Site | Ravenna, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 391 | |||
Buildings and Improvements, Initial Cost | 1,172 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,563 | |||
Accumulated Depreciation | 415 | |||
Retail Site | Round Lake Beach, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,273 | |||
Buildings and Improvements, Initial Cost | 1,042 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,315 | |||
Accumulated Depreciation | 369 | |||
Retail Site | Salem, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 352 | |||
Buildings and Improvements, Initial Cost | 1,408 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,760 | |||
Accumulated Depreciation | 498 | |||
Retail Site | Trotwood, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 266 | |||
Buildings and Improvements, Initial Cost | 798 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,064 | |||
Accumulated Depreciation | 282 | |||
Retail Site | Twinsburg, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 458 | |||
Buildings and Improvements, Initial Cost | 850 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,308 | |||
Accumulated Depreciation | 301 | |||
Retail Site | Warren, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 168 | |||
Buildings and Improvements, Initial Cost | 1,516 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,684 | |||
Accumulated Depreciation | 536 | |||
Retail Site | Warren, OH II | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 176 | |||
Buildings and Improvements, Initial Cost | 997 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,173 | |||
Accumulated Depreciation | 353 | |||
Retail Site | Waukegan, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 611 | |||
Buildings and Improvements, Initial Cost | 611 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,222 | |||
Accumulated Depreciation | 216 | |||
Retail Site | Willoughby, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 394 | |||
Buildings and Improvements, Initial Cost | 920 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,314 | |||
Accumulated Depreciation | 325 | |||
Retail Site | Woodstock, IL | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 869 | |||
Buildings and Improvements, Initial Cost | 290 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,159 | |||
Accumulated Depreciation | 103 | |||
Retail Site | Youngstown, OH | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 147 | |||
Buildings and Improvements, Initial Cost | 1,324 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,471 | |||
Accumulated Depreciation | 468 | |||
Retail Site | Youngstown, OH II | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 186 | |||
Buildings and Improvements, Initial Cost | 1,675 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,861 | |||
Accumulated Depreciation | 593 | |||
Retail Site | Youngstown, OH III | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 370 | |||
Buildings and Improvements, Initial Cost | 1,481 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,851 | |||
Accumulated Depreciation | 524 | |||
Retail Site | Youngstown, OH IV | Burger King I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 300 | |||
Buildings and Improvements, Initial Cost | 901 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,201 | |||
Accumulated Depreciation | 319 | |||
Retail Site | Ft Smith, AR | Dollar General XIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 184 | |||
Buildings and Improvements, Initial Cost | 1,042 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,226 | |||
Accumulated Depreciation | 354 | |||
Retail Site | Hot Springs, AR | Dollar General XIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 287 | |||
Buildings and Improvements, Initial Cost | 862 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,149 | |||
Accumulated Depreciation | 293 | |||
Retail Site | Royal, AR | Dollar General XIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 137 | |||
Buildings and Improvements, Initial Cost | 777 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 914 | |||
Accumulated Depreciation | 264 | |||
Retail Site | Wilson, NY | Dollar General XV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 172 | |||
Buildings and Improvements, Initial Cost | 972 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,144 | |||
Accumulated Depreciation | 330 | |||
Retail Site | McDonough, GA II | Mattress Firm I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 185 | |||
Buildings and Improvements, Initial Cost | 1,663 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,848 | |||
Accumulated Depreciation | 565 | |||
Retail Site | LaFollette, TN | Dollar General XVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 43 | |||
Buildings and Improvements, Initial Cost | 824 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 867 | |||
Accumulated Depreciation | 280 | |||
Retail Site | Carrollton, MO | Family Dollar V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 37 | |||
Buildings and Improvements, Initial Cost | 713 | |||
Land, Costs Capitalized Subsequent to Acquisition | 1 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount | 752 | |||
Accumulated Depreciation | 242 | |||
Retail Site | Detroit, MI | CVS III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 447 | |||
Buildings and Improvements, Initial Cost | 2,533 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,980 | |||
Accumulated Depreciation | 918 | |||
Retail Site | Walden, CO | Family Dollar VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 100 | |||
Buildings and Improvements, Initial Cost | 568 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 668 | |||
Accumulated Depreciation | 193 | |||
Retail Site | Valdosta, GA II | Mattress Firm III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 169 | |||
Buildings and Improvements, Initial Cost | 1,522 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,691 | |||
Accumulated Depreciation | 513 | |||
Retail Site | Virginia, MN | Arby's II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 117 | |||
Buildings and Improvements, Initial Cost | 1,056 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,173 | |||
Accumulated Depreciation | 368 | |||
Retail Site | Kremmling, CO | Family Dollar VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 194 | |||
Buildings and Improvements, Initial Cost | 778 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 972 | |||
Accumulated Depreciation | 262 | |||
Retail Site | Doylestown, PA | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 588 | |||
Buildings and Improvements, Initial Cost | 1,373 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,961 | |||
Accumulated Depreciation | 444 | |||
Retail Site | Lansdale, PA | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 531 | |||
Buildings and Improvements, Initial Cost | 1,238 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,769 | |||
Accumulated Depreciation | 400 | |||
Retail Site | Lima, PA | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,376 | |||
Buildings and Improvements, Initial Cost | 1,682 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,058 | |||
Accumulated Depreciation | 543 | |||
Retail Site | Philadelphia, PA (Frankford) | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 388 | |||
Buildings and Improvements, Initial Cost | 1,551 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,939 | |||
Accumulated Depreciation | 501 | |||
Retail Site | Philadelphia, PA II | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 412 | |||
Buildings and Improvements, Initial Cost | 2,337 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,749 | |||
Accumulated Depreciation | 755 | |||
Retail Site | Philadelphia, PA III | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 321 | |||
Buildings and Improvements, Initial Cost | 2,889 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,210 | |||
Accumulated Depreciation | 933 | |||
Retail Site | Philadelphia, PA V | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 473 | |||
Buildings and Improvements, Initial Cost | 2,680 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,153 | |||
Accumulated Depreciation | 866 | |||
Retail Site | Richboro, PA | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 642 | |||
Buildings and Improvements, Initial Cost | 1,193 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,835 | |||
Accumulated Depreciation | 385 | |||
Retail Site | Wayne, PA | Citizens Bank I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,923 | |||
Buildings and Improvements, Initial Cost | 1,923 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,846 | |||
Accumulated Depreciation | 621 | |||
Retail Site | Arden, NC | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 374 | |||
Buildings and Improvements, Initial Cost | 216 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 590 | |||
Accumulated Depreciation | 53 | |||
Retail Site | Bushnell, FL | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 385 | |||
Buildings and Improvements, Initial Cost | 1,216 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,601 | |||
Accumulated Depreciation | 225 | |||
Retail Site | Chattanooga, TN I | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 358 | |||
Buildings and Improvements, Initial Cost | 564 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 922 | |||
Accumulated Depreciation | 117 | |||
Retail Site | Chesapeake, VA | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 490 | |||
Buildings and Improvements, Initial Cost | 695 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,185 | |||
Accumulated Depreciation | 148 | |||
Retail Site | Cockeysville, MD | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,184 | |||
Buildings and Improvements, Initial Cost | 479 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,663 | |||
Accumulated Depreciation | 96 | |||
Retail Site | Douglasville, GA | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 410 | |||
Buildings and Improvements, Initial Cost | 749 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,159 | |||
Accumulated Depreciation | 155 | |||
Retail Site | Duluth, GA | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,081 | |||
Buildings and Improvements, Initial Cost | 2,111 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,192 | |||
Accumulated Depreciation | 417 | |||
Retail Site | East Ridge, TN | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 276 | |||
Buildings and Improvements, Initial Cost | 475 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 751 | |||
Accumulated Depreciation | 110 | |||
Retail Site | Lynchburg, VA | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 584 | |||
Buildings and Improvements, Initial Cost | 1,255 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,839 | |||
Accumulated Depreciation | 258 | |||
Retail Site | Mauldin, SC II | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 542 | |||
Buildings and Improvements, Initial Cost | 704 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,246 | |||
Accumulated Depreciation | 162 | |||
Retail Site | Okeechobee, FL | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 339 | |||
Buildings and Improvements, Initial Cost | 1,569 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,908 | |||
Accumulated Depreciation | 397 | |||
Retail Site | Panama City, FL | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 484 | |||
Buildings and Improvements, Initial Cost | 1,075 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,559 | |||
Accumulated Depreciation | 229 | |||
Retail Site | Plant City, FL | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 499 | |||
Buildings and Improvements, Initial Cost | 1,139 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,638 | |||
Accumulated Depreciation | 247 | |||
Retail Site | Salisbury, NC II | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 293 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 557 | |||
Accumulated Depreciation | 78 | |||
Retail Site | Seminole, FL | Trust Bank II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,329 | |||
Buildings and Improvements, Initial Cost | 3,486 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,815 | |||
Accumulated Depreciation | 667 | |||
Retail Site | Meridian, ID | Mattress Firm IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 691 | |||
Buildings and Improvements, Initial Cost | 1,193 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,884 | |||
Accumulated Depreciation | 249 | |||
Retail Site | Sunrise Beach, MO | Dollar General XII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 105 | |||
Buildings and Improvements, Initial Cost | 795 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 900 | |||
Accumulated Depreciation | 233 | |||
Retail Site | Florence, AL | Mattress Firm V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 299 | |||
Buildings and Improvements, Initial Cost | 1,478 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount | 1,778 | |||
Accumulated Depreciation | 303 | |||
Retail Site | Aiken, SC II | Mattress Firm I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 426 | |||
Buildings and Improvements, Initial Cost | 1,029 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,455 | |||
Accumulated Depreciation | 245 | |||
Retail Site | Bernice, LA | Family Dollar VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 51 | |||
Buildings and Improvements, Initial Cost | 527 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 578 | |||
Accumulated Depreciation | 113 | |||
Retail Site | Erie, PA | Aaron's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 126 | |||
Buildings and Improvements, Initial Cost | 708 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 834 | |||
Accumulated Depreciation | 138 | |||
Retail Site | Caro, MI | AutoZone III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 135 | |||
Buildings and Improvements, Initial Cost | 855 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 990 | |||
Accumulated Depreciation | 172 | |||
Retail Site | Taunton, MA | Advance Auto III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 404 | |||
Buildings and Improvements, Initial Cost | 1,148 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,552 | |||
Accumulated Depreciation | 212 | |||
Retail Site | Dexter, NM | Family Dollar VIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 79 | |||
Buildings and Improvements, Initial Cost | 745 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 824 | |||
Accumulated Depreciation | 178 | |||
Retail Site | Hale Center, TX | Family Dollar VIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 111 | |||
Buildings and Improvements, Initial Cost | 624 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 735 | |||
Accumulated Depreciation | 150 | |||
Retail Site | Plains, TX | Family Dollar VIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 100 | |||
Buildings and Improvements, Initial Cost | 624 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 724 | |||
Accumulated Depreciation | 148 | |||
Retail Site | Tullos, LA | Dollar General XVII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 114 | |||
Buildings and Improvements, Initial Cost | 736 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 850 | |||
Accumulated Depreciation | 151 | |||
Retail Site | Asheboro, NC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 458 | |||
Buildings and Improvements, Initial Cost | 774 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,232 | |||
Accumulated Depreciation | 164 | |||
Retail Site | Athens, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 427 | |||
Buildings and Improvements, Initial Cost | 472 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 899 | |||
Accumulated Depreciation | 144 | |||
Retail Site | Atlanta, GA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,027 | |||
Buildings and Improvements, Initial Cost | 4,873 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 7,900 | |||
Accumulated Depreciation | 885 | |||
Retail Site | Atlanta, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 4,422 | |||
Buildings and Improvements, Initial Cost | 1,559 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,981 | |||
Accumulated Depreciation | 313 | |||
Retail Site | Avondale, MD | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,760 | |||
Buildings and Improvements, Initial Cost | 485 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,245 | |||
Accumulated Depreciation | 100 | |||
Retail Site | Brentwood, TN | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 996 | |||
Buildings and Improvements, Initial Cost | 1,536 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,532 | |||
Accumulated Depreciation | 303 | |||
Retail Site | Brentwood, TN II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 885 | |||
Buildings and Improvements, Initial Cost | 1,987 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,872 | |||
Accumulated Depreciation | 386 | |||
Retail Site | Brunswick, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 384 | |||
Buildings and Improvements, Initial Cost | 888 | |||
Land, Costs Capitalized Subsequent to Acquisition | (267) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | (636) | |||
Gross Amount | 369 | |||
Accumulated Depreciation | 14 | |||
Retail Site | Casselberry, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 609 | |||
Buildings and Improvements, Initial Cost | 2,443 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,052 | |||
Accumulated Depreciation | 469 | |||
Retail Site | Chamblee, GA | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,029 | |||
Buildings and Improvements, Initial Cost | 813 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,842 | |||
Accumulated Depreciation | 174 | |||
Retail Site | Chattanooga, TN II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 419 | |||
Buildings and Improvements, Initial Cost | 811 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,230 | |||
Accumulated Depreciation | 156 | |||
Retail Site | Chattanooga, TN III | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 191 | |||
Buildings and Improvements, Initial Cost | 335 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 526 | |||
Accumulated Depreciation | 66 | |||
Retail Site | Collinsville, VA | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 215 | |||
Buildings and Improvements, Initial Cost | 555 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 770 | |||
Accumulated Depreciation | 112 | |||
Retail Site | Columbus, GA I | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 417 | |||
Buildings and Improvements, Initial Cost | 1,395 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount | 1,813 | |||
Accumulated Depreciation | 276 | |||
Retail Site | Conyers, GA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 205 | |||
Buildings and Improvements, Initial Cost | 1,334 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,539 | |||
Accumulated Depreciation | 254 | |||
Retail Site | Daytona Beach, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 443 | |||
Buildings and Improvements, Initial Cost | 1,586 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,029 | |||
Accumulated Depreciation | 331 | |||
Retail Site | Dunn, NC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 384 | |||
Buildings and Improvements, Initial Cost | 616 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,000 | |||
Accumulated Depreciation | 137 | |||
Retail Site | Durham, NC | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 284 | |||
Buildings and Improvements, Initial Cost | 506 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 790 | |||
Accumulated Depreciation | 124 | |||
Retail Site | Durham, NC II | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 488 | |||
Buildings and Improvements, Initial Cost | 742 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,230 | |||
Accumulated Depreciation | 144 | |||
Retail Site | Fairfax, VA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,835 | |||
Buildings and Improvements, Initial Cost | 1,081 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,916 | |||
Accumulated Depreciation | 208 | |||
Retail Site | Gainsville, FL I | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 457 | |||
Buildings and Improvements, Initial Cost | 816 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,273 | |||
Accumulated Depreciation | 177 | |||
Retail Site | Gainesville, FL II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 458 | |||
Buildings and Improvements, Initial Cost | 2,139 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,597 | |||
Accumulated Depreciation | 409 | |||
Retail Site | Greenville, SC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 590 | |||
Buildings and Improvements, Initial Cost | 1,007 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,597 | |||
Accumulated Depreciation | 215 | |||
Retail Site | Greenville, SC II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 449 | |||
Buildings and Improvements, Initial Cost | 1,640 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,089 | |||
Accumulated Depreciation | 405 | |||
Retail Site | Greenville, SC III | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 377 | |||
Buildings and Improvements, Initial Cost | 871 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,248 | |||
Accumulated Depreciation | 175 | |||
Retail Site | Greenville, SC IV | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 684 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 948 | |||
Accumulated Depreciation | 140 | |||
Retail Site | Gulf Breeze, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,092 | |||
Buildings and Improvements, Initial Cost | 1,569 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,661 | |||
Accumulated Depreciation | 323 | |||
Retail Site | Hendersonville, NC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 468 | |||
Buildings and Improvements, Initial Cost | 945 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,413 | |||
Accumulated Depreciation | 190 | |||
Retail Site | Indian Harbour, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 914 | |||
Buildings and Improvements, Initial Cost | 1,181 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,095 | |||
Accumulated Depreciation | 332 | |||
Retail Site | Inverness, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 867 | |||
Buildings and Improvements, Initial Cost | 2,559 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,426 | |||
Accumulated Depreciation | 507 | |||
Retail Site | Jacksonville, FL I | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 871 | |||
Buildings and Improvements, Initial Cost | 372 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,243 | |||
Accumulated Depreciation | 89 | |||
Retail Site | Jacksonville, FL II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 366 | |||
Buildings and Improvements, Initial Cost | 1,136 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,502 | |||
Accumulated Depreciation | 229 | |||
Retail Site | Lakeland, FL II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 927 | |||
Buildings and Improvements, Initial Cost | 1,594 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,521 | |||
Accumulated Depreciation | 374 | |||
Retail Site | Lenoir, NC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,021 | |||
Buildings and Improvements, Initial Cost | 3,980 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,001 | |||
Accumulated Depreciation | 729 | |||
Retail Site | Lexington, VA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 122 | |||
Buildings and Improvements, Initial Cost | 385 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 507 | |||
Accumulated Depreciation | 86 | |||
Retail Site | Lithonia, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 212 | |||
Buildings and Improvements, Initial Cost | 770 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 982 | |||
Accumulated Depreciation | 154 | |||
Retail Site | Lutz, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 438 | |||
Buildings and Improvements, Initial Cost | 1,477 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,915 | |||
Accumulated Depreciation | 281 | |||
Retail Site | Macon, GA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 771 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 985 | |||
Accumulated Depreciation | 172 | |||
Retail Site | Madison, GA | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 304 | |||
Buildings and Improvements, Initial Cost | 612 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 916 | |||
Accumulated Depreciation | 113 | |||
Retail Site | Marietta, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,168 | |||
Buildings and Improvements, Initial Cost | 1,169 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,337 | |||
Accumulated Depreciation | 249 | |||
Retail Site | Marietta, GA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,087 | |||
Buildings and Improvements, Initial Cost | 2,056 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,143 | |||
Accumulated Depreciation | 383 | |||
Retail Site | Mebane, NC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 500 | |||
Buildings and Improvements, Initial Cost | 887 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,387 | |||
Accumulated Depreciation | 172 | |||
Retail Site | Melbourne, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 772 | |||
Buildings and Improvements, Initial Cost | 1,927 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,699 | |||
Accumulated Depreciation | 381 | |||
Retail Site | Melbourne, FL II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 788 | |||
Buildings and Improvements, Initial Cost | 1,888 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,676 | |||
Accumulated Depreciation | 360 | |||
Retail Site | Morristown, TN | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 444 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 658 | |||
Accumulated Depreciation | 122 | |||
Retail Site | Mount Dora, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 570 | |||
Buildings and Improvements, Initial Cost | 1,933 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,503 | |||
Accumulated Depreciation | 368 | |||
Retail Site | Murfreesboro, TN II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 451 | |||
Buildings and Improvements, Initial Cost | 847 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,298 | |||
Accumulated Depreciation | 156 | |||
Retail Site | Nashville, TN II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,776 | |||
Buildings and Improvements, Initial Cost | 1,601 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,377 | |||
Accumulated Depreciation | 358 | |||
Retail Site | Ocala, FL III | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 581 | |||
Buildings and Improvements, Initial Cost | 1,091 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,672 | |||
Accumulated Depreciation | 250 | |||
Retail Site | Ocala, FL IV | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 347 | |||
Buildings and Improvements, Initial Cost | 1,336 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,683 | |||
Accumulated Depreciation | 365 | |||
Retail Site | Onancock, VA | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 829 | |||
Buildings and Improvements, Initial Cost | 1,300 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,129 | |||
Accumulated Depreciation | 240 | |||
Retail Site | Orlando, FL III | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,234 | |||
Buildings and Improvements, Initial Cost | 1,125 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,359 | |||
Accumulated Depreciation | 233 | |||
Retail Site | Ormond Beach, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 873 | |||
Buildings and Improvements, Initial Cost | 2,235 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,108 | |||
Accumulated Depreciation | 428 | |||
Retail Site | Ormund Beach, FL II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,047 | |||
Buildings and Improvements, Initial Cost | 1,566 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,613 | |||
Accumulated Depreciation | 331 | |||
Retail Site | Ormund Beach, FL III | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 854 | |||
Buildings and Improvements, Initial Cost | 1,385 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,239 | |||
Accumulated Depreciation | 283 | |||
Retail Site | Oxford, NC | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 530 | |||
Buildings and Improvements, Initial Cost | 1,727 | |||
Land, Costs Capitalized Subsequent to Acquisition | 1 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,258 | |||
Accumulated Depreciation | 321 | |||
Retail Site | Peachtree City, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 887 | |||
Buildings and Improvements, Initial Cost | 2,242 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,129 | |||
Accumulated Depreciation | 453 | |||
Retail Site | Pittsboro, NC | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 61 | |||
Buildings and Improvements, Initial Cost | 510 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 571 | |||
Accumulated Depreciation | 90 | |||
Retail Site | Pompano Beach, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 886 | |||
Buildings and Improvements, Initial Cost | 2,024 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,910 | |||
Accumulated Depreciation | 384 | |||
Retail Site | Port St. Lucie, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 913 | |||
Buildings and Improvements, Initial Cost | 1,772 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,685 | |||
Accumulated Depreciation | 369 | |||
Retail Site | Prince Frederick, MD | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,431 | |||
Buildings and Improvements, Initial Cost | 940 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,371 | |||
Accumulated Depreciation | 201 | |||
Retail Site | Richmond, VA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 153 | |||
Buildings and Improvements, Initial Cost | 313 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 466 | |||
Accumulated Depreciation | 74 | |||
Retail Site | Richmond, VA III | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 233 | |||
Buildings and Improvements, Initial Cost | 214 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 447 | |||
Accumulated Depreciation | 51 | |||
Retail Site | Roanoke, VA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 753 | |||
Buildings and Improvements, Initial Cost | 1,165 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,918 | |||
Accumulated Depreciation | 240 | |||
Retail Site | Roanoke, VA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 316 | |||
Buildings and Improvements, Initial Cost | 734 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,050 | |||
Accumulated Depreciation | 146 | |||
Retail Site | Rockledge, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 742 | |||
Buildings and Improvements, Initial Cost | 1,126 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,868 | |||
Accumulated Depreciation | 227 | |||
Retail Site | Sarasota, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 741 | |||
Buildings and Improvements, Initial Cost | 852 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,593 | |||
Accumulated Depreciation | 186 | |||
Retail Site | Savannah, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 458 | |||
Buildings and Improvements, Initial Cost | 936 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,394 | |||
Accumulated Depreciation | 221 | |||
Retail Site | Savannah, GA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 224 | |||
Buildings and Improvements, Initial Cost | 1,116 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,340 | |||
Accumulated Depreciation | 220 | |||
Retail Site | Signal Mountain, TN | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 296 | |||
Buildings and Improvements, Initial Cost | 697 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 993 | |||
Accumulated Depreciation | 137 | |||
Retail Site | Soddy Daisy, TN | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 338 | |||
Buildings and Improvements, Initial Cost | 624 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 962 | |||
Accumulated Depreciation | 118 | |||
Retail Site | Spring Hill, FL | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 673 | |||
Buildings and Improvements, Initial Cost | 2,550 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,223 | |||
Accumulated Depreciation | 476 | |||
Retail Site | St. Cloud, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,046 | |||
Buildings and Improvements, Initial Cost | 1,887 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,933 | |||
Accumulated Depreciation | 374 | |||
Retail Site | St. Petersburg, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 803 | |||
Buildings and Improvements, Initial Cost | 1,043 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,846 | |||
Accumulated Depreciation | 207 | |||
Retail Site | Stafford, VA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,130 | |||
Buildings and Improvements, Initial Cost | 1,714 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,844 | |||
Accumulated Depreciation | 333 | |||
Retail Site | Stockbridge, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 358 | |||
Buildings and Improvements, Initial Cost | 760 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,118 | |||
Accumulated Depreciation | 159 | |||
Retail Site | Stone Mountain, GA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 605 | |||
Buildings and Improvements, Initial Cost | 522 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,127 | |||
Accumulated Depreciation | 104 | |||
Retail Site | Stuart, VA | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 374 | |||
Buildings and Improvements, Initial Cost | 1,532 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,906 | |||
Accumulated Depreciation | 294 | |||
Retail Site | Sylvester, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 242 | |||
Buildings and Improvements, Initial Cost | 845 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,087 | |||
Accumulated Depreciation | 174 | |||
Retail Site | Tamarac, FL | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 997 | |||
Buildings and Improvements, Initial Cost | 1,241 | |||
Land, Costs Capitalized Subsequent to Acquisition | 1 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,239 | |||
Accumulated Depreciation | 253 | |||
Retail Site | Union City, GA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 400 | |||
Buildings and Improvements, Initial Cost | 542 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 942 | |||
Accumulated Depreciation | 116 | |||
Retail Site | Williamsburg, VA | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 447 | |||
Buildings and Improvements, Initial Cost | 585 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,032 | |||
Accumulated Depreciation | 132 | |||
Retail Site | Winston-Salem, NC | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 362 | |||
Buildings and Improvements, Initial Cost | 513 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 875 | |||
Accumulated Depreciation | 108 | |||
Retail Site | Yadkinville, NC | First Horizon Bank | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 438 | |||
Buildings and Improvements, Initial Cost | 765 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,203 | |||
Accumulated Depreciation | 148 | |||
Retail Site | Deville, LA | Dollar General XVIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 93 | |||
Buildings and Improvements, Initial Cost | 741 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 834 | |||
Accumulated Depreciation | 151 | |||
Retail Site | Holland, MI | Mattress Firm I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 507 | |||
Buildings and Improvements, Initial Cost | 1,014 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,521 | |||
Accumulated Depreciation | 229 | |||
Retail Site | Hornbeck, LA | Dollar General XVII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 82 | |||
Buildings and Improvements, Initial Cost | 780 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 862 | |||
Accumulated Depreciation | 157 | |||
Retail Site | Fannettsburg, PA | Family Dollar IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 165 | |||
Buildings and Improvements, Initial Cost | 803 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 968 | |||
Accumulated Depreciation | 158 | |||
Retail Site | Saginaw, MI | Mattress Firm I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 337 | |||
Buildings and Improvements, Initial Cost | 1,140 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,477 | |||
Accumulated Depreciation | 244 | |||
Retail Site | Greenville, SC V | Bi-Lo I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,504 | |||
Buildings and Improvements, Initial Cost | 4,770 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 6,274 | |||
Accumulated Depreciation | 909 | |||
Retail Site | Bristol, RI | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,860 | |||
Buildings and Improvements, Initial Cost | 10,010 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 12,870 | |||
Accumulated Depreciation | 1,858 | |||
Retail Site | Cumberland, RI | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,295 | |||
Buildings and Improvements, Initial Cost | 13,693 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount | 16,989 | |||
Accumulated Depreciation | 2,609 | |||
Retail Site | Framingham, MA | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,971 | |||
Buildings and Improvements, Initial Cost | 12,289 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 16,260 | |||
Accumulated Depreciation | 2,127 | |||
Retail Site | Malden, MA | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 4,418 | |||
Buildings and Improvements, Initial Cost | 15,195 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 19,613 | |||
Accumulated Depreciation | 2,620 | |||
Retail Site | Sicklerville, NJ | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,367 | |||
Buildings and Improvements, Initial Cost | 9,873 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 12,240 | |||
Accumulated Depreciation | 1,776 | |||
Retail Site | Southington, CT | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,238 | |||
Buildings and Improvements, Initial Cost | 13,169 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 16,407 | |||
Accumulated Depreciation | 2,399 | |||
Retail Site | Swampscott, MA | Stop & Shop I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,644 | |||
Buildings and Improvements, Initial Cost | 12,982 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 16,626 | |||
Accumulated Depreciation | 2,235 | |||
Retail Site | Forest HIll, LA | Dollar General XVII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 83 | |||
Buildings and Improvements, Initial Cost | 728 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 811 | |||
Accumulated Depreciation | 147 | |||
Retail Site | Chelsea, OK | Dollar General XIX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 231 | |||
Buildings and Improvements, Initial Cost | 919 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,150 | |||
Accumulated Depreciation | 203 | |||
Retail Site | Brookhaven, MS | Dollar General XX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 186 | |||
Buildings and Improvements, Initial Cost | 616 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 802 | |||
Accumulated Depreciation | 121 | |||
Retail Site | Columbus, MS | Dollar General XX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 370 | |||
Buildings and Improvements, Initial Cost | 491 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 861 | |||
Accumulated Depreciation | 110 | |||
Retail Site | Forest, MS | Dollar General XX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 72 | |||
Buildings and Improvements, Initial Cost | 856 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 928 | |||
Accumulated Depreciation | 160 | |||
Retail Site | Rolling Fork, MS | Dollar General XX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 244 | |||
Buildings and Improvements, Initial Cost | 929 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,173 | |||
Accumulated Depreciation | 178 | |||
Retail Site | West Point, MS | Dollar General XX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 318 | |||
Buildings and Improvements, Initial Cost | 506 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 824 | |||
Accumulated Depreciation | 121 | |||
Retail Site | Huntington, WV | Dollar General XXI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 101 | |||
Buildings and Improvements, Initial Cost | 1,101 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,202 | |||
Accumulated Depreciation | 233 | |||
Retail Site | Warren, IN | Dollar General XXII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 88 | |||
Buildings and Improvements, Initial Cost | 962 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,050 | |||
Accumulated Depreciation | 172 | |||
Retail Site | Dewitt, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 233 | |||
Buildings and Improvements, Initial Cost | 1,044 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,277 | |||
Accumulated Depreciation | 126 | |||
Retail Site | Farmington, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 374 | |||
Buildings and Improvements, Initial Cost | 1,037 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,411 | |||
Accumulated Depreciation | 127 | |||
Retail Site | Geddes, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 191 | |||
Buildings and Improvements, Initial Cost | 1,018 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,209 | |||
Accumulated Depreciation | 125 | |||
Retail Site | Otego, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 285 | |||
Buildings and Improvements, Initial Cost | 1,070 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,355 | |||
Accumulated Depreciation | 132 | |||
Retail Site | Parish, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 164 | |||
Buildings and Improvements, Initial Cost | 1,071 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,235 | |||
Accumulated Depreciation | 136 | |||
Retail Site | Utica, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 301 | |||
Buildings and Improvements, Initial Cost | 1,034 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,335 | |||
Accumulated Depreciation | 135 | |||
Retail Site | Freeport, IL | Jo-Ann Fabrics I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 119 | |||
Buildings and Improvements, Initial Cost | 1,663 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,782 | |||
Accumulated Depreciation | 181 | |||
Retail Site | Ashland, KY | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 446 | |||
Buildings and Improvements, Initial Cost | 1,771 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,217 | |||
Accumulated Depreciation | 186 | |||
Retail Site | Bloomingtown, IN | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 405 | |||
Buildings and Improvements, Initial Cost | 1,351 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,756 | |||
Accumulated Depreciation | 144 | |||
Retail Site | Bucyrus, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 224 | |||
Buildings and Improvements, Initial Cost | 1,450 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,674 | |||
Accumulated Depreciation | 159 | |||
Retail Site | Columbia City, IN | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 333 | |||
Buildings and Improvements, Initial Cost | 594 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 927 | |||
Accumulated Depreciation | 79 | |||
Retail Site | Coshocton, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 386 | |||
Buildings and Improvements, Initial Cost | 1,326 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,712 | |||
Accumulated Depreciation | 162 | |||
Retail Site | Dublin, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 701 | |||
Buildings and Improvements, Initial Cost | 645 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,346 | |||
Accumulated Depreciation | 88 | |||
Retail Site | Ellicott City, MD | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 507 | |||
Buildings and Improvements, Initial Cost | 1,083 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,590 | |||
Accumulated Depreciation | 136 | |||
Retail Site | Elyria, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 540 | |||
Buildings and Improvements, Initial Cost | 1,003 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,543 | |||
Accumulated Depreciation | 123 | |||
Retail Site | Franklin, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 620 | |||
Buildings and Improvements, Initial Cost | 1,581 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,201 | |||
Accumulated Depreciation | 178 | |||
Retail Site | Kettering, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 1,493 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,757 | |||
Accumulated Depreciation | 168 | |||
Retail Site | Lansing, MI III | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 817 | |||
Buildings and Improvements, Initial Cost | 1,093 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,910 | |||
Accumulated Depreciation | 144 | |||
Retail Site | Lebanon, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 628 | |||
Buildings and Improvements, Initial Cost | 1,328 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,956 | |||
Accumulated Depreciation | 161 | |||
Retail Site | Lewes, DE | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 660 | |||
Buildings and Improvements, Initial Cost | 1,016 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,676 | |||
Accumulated Depreciation | 122 | |||
Retail Site | Marietta, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 631 | |||
Buildings and Improvements, Initial Cost | 1,890 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,521 | |||
Accumulated Depreciation | 208 | |||
Retail Site | Miamisburg, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 339 | |||
Buildings and Improvements, Initial Cost | 1,791 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,130 | |||
Accumulated Depreciation | 195 | |||
Retail Site | Paducah, KY | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 296 | |||
Buildings and Improvements, Initial Cost | 697 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 993 | |||
Accumulated Depreciation | 90 | |||
Retail Site | Plymouth, IN | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 172 | |||
Buildings and Improvements, Initial Cost | 1,023 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,195 | |||
Accumulated Depreciation | 117 | |||
Retail Site | Roseville, MI | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 861 | |||
Buildings and Improvements, Initial Cost | 854 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,715 | |||
Accumulated Depreciation | 119 | |||
Retail Site | Steubenville, OH | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 641 | |||
Buildings and Improvements, Initial Cost | 1,638 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,279 | |||
Accumulated Depreciation | 205 | |||
Retail Site | Streetsboro, OH I | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,078 | |||
Buildings and Improvements, Initial Cost | 780 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,858 | |||
Accumulated Depreciation | 106 | |||
Retail Site | Taylor, MI | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 542 | |||
Buildings and Improvements, Initial Cost | 1,210 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,752 | |||
Accumulated Depreciation | 145 | |||
Retail Site | Uniontown, PA | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 494 | |||
Buildings and Improvements, Initial Cost | 1,104 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,598 | |||
Accumulated Depreciation | 144 | |||
Retail Site | Weirton, WV | Bob Evans I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 305 | |||
Buildings and Improvements, Initial Cost | 900 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,205 | |||
Accumulated Depreciation | 123 | |||
Retail Site | McHenry, IL I | Chili's II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 973 | |||
Buildings and Improvements, Initial Cost | 2,557 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,530 | |||
Accumulated Depreciation | 275 | |||
Retail Site | Kingston, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 432 | |||
Buildings and Improvements, Initial Cost | 1,027 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,459 | |||
Accumulated Depreciation | 129 | |||
Retail Site | Robertsdale, AL | Sonic Drive In I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 358 | |||
Buildings and Improvements, Initial Cost | 1,043 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,401 | |||
Accumulated Depreciation | 119 | |||
Retail Site | Tuscaloosa, AL | Sonic Drive In I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,808 | |||
Buildings and Improvements, Initial Cost | 841 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,649 | |||
Accumulated Depreciation | 97 | |||
Retail Site | Kerhonskon, NY | Dollar General XXIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 247 | |||
Buildings and Improvements, Initial Cost | 953 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,200 | |||
Accumulated Depreciation | 112 | |||
Retail Site | Machesney Park, IL | Chili's III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,254 | |||
Buildings and Improvements, Initial Cost | 2,922 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,176 | |||
Accumulated Depreciation | 296 | |||
Retail Site | Ashland, AL | Hardee's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 170 | |||
Buildings and Improvements, Initial Cost | 827 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 997 | |||
Accumulated Depreciation | 89 | |||
Retail Site | Jasper, AL | Hardee's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 171 | |||
Buildings and Improvements, Initial Cost | 527 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 698 | |||
Accumulated Depreciation | 56 | |||
Retail Site | Jesup, GA | Hardee's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 231 | |||
Buildings and Improvements, Initial Cost | 1,236 | |||
Land, Costs Capitalized Subsequent to Acquisition | (96) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | (584) | |||
Gross Amount | 787 | |||
Accumulated Depreciation | 0 | |||
Retail Site | Waycross, GA I | Hardee's I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 261 | |||
Buildings and Improvements, Initial Cost | 1,217 | |||
Land, Costs Capitalized Subsequent to Acquisition | (109) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | (582) | |||
Gross Amount | 787 | |||
Accumulated Depreciation | 0 | |||
Retail Site | Flandreau, SD | Tractor Supply IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 194 | |||
Buildings and Improvements, Initial Cost | 1,110 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,304 | |||
Accumulated Depreciation | 103 | |||
Retail Site | Hazen, ND | Tractor Supply IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 242 | |||
Buildings and Improvements, Initial Cost | 1,290 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,532 | |||
Accumulated Depreciation | 130 | |||
Retail Site | Harlingen, TX | Circle K II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 575 | |||
Buildings and Improvements, Initial Cost | 945 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,520 | |||
Accumulated Depreciation | 93 | |||
Retail Site | Laredo, TX | Circle K II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 734 | |||
Buildings and Improvements, Initial Cost | 1,294 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,028 | |||
Accumulated Depreciation | 126 | |||
Retail Site | Laredo, TX II | Circle K II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 675 | |||
Buildings and Improvements, Initial Cost | 1,250 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,925 | |||
Accumulated Depreciation | 138 | |||
Retail Site | Laredo, TX III | Circle K II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 226 | |||
Buildings and Improvements, Initial Cost | 443 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 669 | |||
Accumulated Depreciation | 44 | |||
Retail Site | Rio Grande City, TX | Circle K II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 625 | |||
Buildings and Improvements, Initial Cost | 1,257 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,882 | |||
Accumulated Depreciation | 123 | |||
Retail Site | Weslaco, TX | Circle K II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 547 | |||
Buildings and Improvements, Initial Cost | 1,183 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,730 | |||
Accumulated Depreciation | 119 | |||
Retail Site | Biloxi, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 397 | |||
Buildings and Improvements, Initial Cost | 621 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,018 | |||
Accumulated Depreciation | 64 | |||
Retail Site | Collins, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 272 | |||
Buildings and Improvements, Initial Cost | 992 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,264 | |||
Accumulated Depreciation | 101 | |||
Retail Site | Ellisville, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 251 | |||
Buildings and Improvements, Initial Cost | 1,114 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,365 | |||
Accumulated Depreciation | 103 | |||
Retail Site | Gulfport, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 100 | |||
Buildings and Improvements, Initial Cost | 930 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,030 | |||
Accumulated Depreciation | 99 | |||
Retail Site | Gulfport, MS II | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 199 | |||
Buildings and Improvements, Initial Cost | 660 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 859 | |||
Accumulated Depreciation | 61 | |||
Retail Site | Gulfport, MS III | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 232 | |||
Buildings and Improvements, Initial Cost | 746 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 978 | |||
Accumulated Depreciation | 78 | |||
Retail Site | Hattiesburg, MS I | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 351 | |||
Buildings and Improvements, Initial Cost | 788 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,139 | |||
Accumulated Depreciation | 84 | |||
Retail Site | Lithia, FL | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 352 | |||
Buildings and Improvements, Initial Cost | 478 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 830 | |||
Accumulated Depreciation | 56 | |||
Retail Site | Long Beach, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 210 | |||
Buildings and Improvements, Initial Cost | 840 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,050 | |||
Accumulated Depreciation | 89 | |||
Retail Site | Magee, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 300 | |||
Buildings and Improvements, Initial Cost | 740 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,040 | |||
Accumulated Depreciation | 80 | |||
Retail Site | Petal, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 100 | |||
Buildings and Improvements, Initial Cost | 1,053 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,153 | |||
Accumulated Depreciation | 98 | |||
Retail Site | Plant City, FL I | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 250 | |||
Buildings and Improvements, Initial Cost | 525 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 775 | |||
Accumulated Depreciation | 67 | |||
Retail Site | Purvis, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 129 | |||
Buildings and Improvements, Initial Cost | 896 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,025 | |||
Accumulated Depreciation | 84 | |||
Retail Site | Riverview, FL | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 267 | |||
Buildings and Improvements, Initial Cost | 502 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 769 | |||
Accumulated Depreciation | 57 | |||
Retail Site | Riverview, FL II | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 392 | |||
Buildings and Improvements, Initial Cost | 679 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,071 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Tylertown, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 191 | |||
Buildings and Improvements, Initial Cost | 1,197 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,388 | |||
Accumulated Depreciation | 120 | |||
Retail Site | Wauchula, FL | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 191 | |||
Buildings and Improvements, Initial Cost | 346 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 537 | |||
Accumulated Depreciation | 39 | |||
Retail Site | Waveland, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 322 | |||
Buildings and Improvements, Initial Cost | 594 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 916 | |||
Accumulated Depreciation | 64 | |||
Retail Site | Waynesboro, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 188 | |||
Buildings and Improvements, Initial Cost | 517 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 705 | |||
Accumulated Depreciation | 55 | |||
Retail Site | Woodville, MS | Sonic Drive In II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 160 | |||
Buildings and Improvements, Initial Cost | 1,179 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,339 | |||
Accumulated Depreciation | 108 | |||
Retail Site | Tallahassee, FL I | Sonny's BBQ I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 521 | |||
Buildings and Improvements, Initial Cost | 1,561 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,082 | |||
Accumulated Depreciation | 141 | |||
Retail Site | Tallahassee, FL II | Sonny's BBQ I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 717 | |||
Buildings and Improvements, Initial Cost | 1,510 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,227 | |||
Accumulated Depreciation | 143 | |||
Retail Site | Tallahassee, FL III | Sonny's BBQ I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 491 | |||
Buildings and Improvements, Initial Cost | 2,281 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,772 | |||
Accumulated Depreciation | 197 | |||
Retail Site | Baldwin, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 861 | |||
Buildings and Improvements, Initial Cost | 690 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,551 | |||
Accumulated Depreciation | 70 | |||
Retail Site | Buford, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 883 | |||
Buildings and Improvements, Initial Cost | 1,130 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,013 | |||
Accumulated Depreciation | 119 | |||
Retail Site | Canton, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 348 | |||
Buildings and Improvements, Initial Cost | 1,463 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,811 | |||
Accumulated Depreciation | 154 | |||
Retail Site | Chatworth, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 673 | |||
Buildings and Improvements, Initial Cost | 1,108 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,781 | |||
Accumulated Depreciation | 114 | |||
Retail Site | Douglasville, GA I | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 958 | |||
Buildings and Improvements, Initial Cost | 808 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,766 | |||
Accumulated Depreciation | 76 | |||
Retail Site | Jasper, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,167 | |||
Buildings and Improvements, Initial Cost | 823 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,990 | |||
Accumulated Depreciation | 81 | |||
Retail Site | Summerville, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 270 | |||
Buildings and Improvements, Initial Cost | 1,019 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,289 | |||
Accumulated Depreciation | 94 | |||
Retail Site | Trion, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 379 | |||
Buildings and Improvements, Initial Cost | 1,077 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,456 | |||
Accumulated Depreciation | 117 | |||
Retail Site | Woodstock, GA | Mountain Express I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 578 | |||
Buildings and Improvements, Initial Cost | 804 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,382 | |||
Accumulated Depreciation | 79 | |||
Retail Site | Omaha, NE | Kum & Go I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,391 | |||
Buildings and Improvements, Initial Cost | 1,350 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,741 | |||
Accumulated Depreciation | 177 | |||
Retail Site | Bolivar, TN | Davita I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 101 | |||
Buildings and Improvements, Initial Cost | 623 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 724 | |||
Accumulated Depreciation | 52 | |||
Retail Site | Brownsville, TN | Davita I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 61 | |||
Buildings and Improvements, Initial Cost | 1,166 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,227 | |||
Accumulated Depreciation | 92 | |||
Retail Site | Casey, IA | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 512 | |||
Buildings and Improvements, Initial Cost | 164 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 676 | |||
Accumulated Depreciation | 16 | |||
Retail Site | Hospers, IA | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 674 | |||
Buildings and Improvements, Initial Cost | 236 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 910 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Jefferson, IA | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 662 | |||
Buildings and Improvements, Initial Cost | 484 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,146 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Muscatine, IA I | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,142 | |||
Buildings and Improvements, Initial Cost | 671 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,813 | |||
Accumulated Depreciation | 63 | |||
Retail Site | Nevada, IA | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 347 | |||
Buildings and Improvements, Initial Cost | 199 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 546 | |||
Accumulated Depreciation | 20 | |||
Retail Site | Nevada, IA II | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 928 | |||
Buildings and Improvements, Initial Cost | 377 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,305 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Omaha, NE II | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 867 | |||
Buildings and Improvements, Initial Cost | 273 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,140 | |||
Accumulated Depreciation | 30 | |||
Retail Site | Omaha, NE III | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 885 | |||
Buildings and Improvements, Initial Cost | 649 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,534 | |||
Accumulated Depreciation | 57 | |||
Retail Site | Wapello, IA | White Oak I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 708 | |||
Buildings and Improvements, Initial Cost | 627 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,335 | |||
Accumulated Depreciation | 58 | |||
Retail Site | Arley, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 590 | |||
Buildings and Improvements, Initial Cost | 428 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,018 | |||
Accumulated Depreciation | 41 | |||
Retail Site | Cullman, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 669 | |||
Buildings and Improvements, Initial Cost | 978 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,647 | |||
Accumulated Depreciation | 80 | |||
Retail Site | Cullman, AL II | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 794 | |||
Buildings and Improvements, Initial Cost | 858 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,652 | |||
Accumulated Depreciation | 74 | |||
Retail Site | Eva, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 782 | |||
Buildings and Improvements, Initial Cost | 258 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,040 | |||
Accumulated Depreciation | 26 | |||
Retail Site | Good Hope, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,080 | |||
Buildings and Improvements, Initial Cost | 685 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,765 | |||
Accumulated Depreciation | 69 | |||
Retail Site | Huntsville, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,470 | |||
Buildings and Improvements, Initial Cost | 659 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,129 | |||
Accumulated Depreciation | 55 | |||
Retail Site | Huntsville, AL II | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,468 | |||
Buildings and Improvements, Initial Cost | 710 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,178 | |||
Accumulated Depreciation | 60 | |||
Retail Site | Huntsville, AL III | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,882 | |||
Buildings and Improvements, Initial Cost | 316 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,198 | |||
Accumulated Depreciation | 29 | |||
Retail Site | Oneconta, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,057 | |||
Buildings and Improvements, Initial Cost | 532 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,589 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Owens Cross, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 578 | |||
Buildings and Improvements, Initial Cost | 1,386 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,964 | |||
Accumulated Depreciation | 105 | |||
Retail Site | Pine Campbell, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 819 | |||
Buildings and Improvements, Initial Cost | 219 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,038 | |||
Accumulated Depreciation | 20 | |||
Retail Site | Red Bay, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 840 | |||
Buildings and Improvements, Initial Cost | 566 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,406 | |||
Accumulated Depreciation | 44 | |||
Retail Site | Red Bay, AL II | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 254 | |||
Buildings and Improvements, Initial Cost | 393 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 647 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Russellville, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 594 | |||
Buildings and Improvements, Initial Cost | 378 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 972 | |||
Accumulated Depreciation | 32 | |||
Retail Site | Vina, AL | Mountain Express II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 549 | |||
Buildings and Improvements, Initial Cost | 300 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 849 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Grand Rapids, MI | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 674 | |||
Buildings and Improvements, Initial Cost | 1,827 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,501 | |||
Accumulated Depreciation | 125 | |||
Retail Site | Michigan City, IN | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 360 | |||
Buildings and Improvements, Initial Cost | 1,726 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,086 | |||
Accumulated Depreciation | 142 | |||
Retail Site | Auburn, ME | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 78 | |||
Buildings and Improvements, Initial Cost | 2,766 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,844 | |||
Accumulated Depreciation | 182 | |||
Retail Site | Benton Harbor, MI | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 241 | |||
Buildings and Improvements, Initial Cost | 1,687 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,928 | |||
Accumulated Depreciation | 127 | |||
Retail Site | East Knoxville, TN | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 497 | |||
Buildings and Improvements, Initial Cost | 1,429 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,926 | |||
Accumulated Depreciation | 105 | |||
Retail Site | Grand Rapids, MI II | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 612 | |||
Buildings and Improvements, Initial Cost | 412 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,024 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Sikeston, MO | Dialysis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 221 | |||
Buildings and Improvements, Initial Cost | 1,762 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,983 | |||
Accumulated Depreciation | 132 | |||
Retail Site | Pineville, LA | Burger King II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 462 | |||
Buildings and Improvements, Initial Cost | 1,136 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,598 | |||
Accumulated Depreciation | 85 | |||
Retail Site | Council Bluffs, IA I | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 111 | |||
Buildings and Improvements, Initial Cost | 628 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 739 | |||
Accumulated Depreciation | 50 | |||
Retail Site | Council Bluffs, IA II | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 122 | |||
Buildings and Improvements, Initial Cost | 566 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 688 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Glenwood, IA | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 20 | |||
Buildings and Improvements, Initial Cost | 351 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 371 | |||
Accumulated Depreciation | 22 | |||
Retail Site | Missouri Valley, IA | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 40 | |||
Buildings and Improvements, Initial Cost | 388 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 428 | |||
Accumulated Depreciation | 29 | |||
Retail Site | Red Oak, IA | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 30 | |||
Buildings and Improvements, Initial Cost | 543 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 573 | |||
Accumulated Depreciation | 39 | |||
Retail Site | Sioux Center, IA | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 20 | |||
Buildings and Improvements, Initial Cost | 358 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 378 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Sioux City, IA II | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 70 | |||
Buildings and Improvements, Initial Cost | 339 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 409 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Sioux City, IA III | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 81 | |||
Buildings and Improvements, Initial Cost | 396 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 477 | |||
Accumulated Depreciation | 26 | |||
Retail Site | Sioux City, IA IV | White Oak II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 101 | |||
Buildings and Improvements, Initial Cost | 519 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 620 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Aurora, IN | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 237 | |||
Buildings and Improvements, Initial Cost | 1,675 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,912 | |||
Accumulated Depreciation | 122 | |||
Retail Site | Barbousvelle, WV | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 987 | |||
Buildings and Improvements, Initial Cost | 807 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,794 | |||
Accumulated Depreciation | 55 | |||
Retail Site | Bay City, MI | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 796 | |||
Buildings and Improvements, Initial Cost | 313 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,109 | |||
Accumulated Depreciation | 26 | |||
Retail Site | Bluefield, VA | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 440 | |||
Buildings and Improvements, Initial Cost | 1,454 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,894 | |||
Accumulated Depreciation | 98 | |||
Retail Site | Bridgeport, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 335 | |||
Buildings and Improvements, Initial Cost | 1,301 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,636 | |||
Accumulated Depreciation | 88 | |||
Retail Site | Bridgeport, WV | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 481 | |||
Buildings and Improvements, Initial Cost | 1,819 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,300 | |||
Accumulated Depreciation | 125 | |||
Retail Site | Burbank, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 172 | |||
Buildings and Improvements, Initial Cost | 1,804 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,976 | |||
Accumulated Depreciation | 136 | |||
Retail Site | Cadillac, MI | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 345 | |||
Buildings and Improvements, Initial Cost | 1,447 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,792 | |||
Accumulated Depreciation | 103 | |||
Retail Site | Circleville, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 911 | |||
Buildings and Improvements, Initial Cost | 1,686 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,597 | |||
Accumulated Depreciation | 124 | |||
Retail Site | Columbus, OH I | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 615 | |||
Buildings and Improvements, Initial Cost | 1,252 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,867 | |||
Accumulated Depreciation | 92 | |||
Retail Site | E Liverpool, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 399 | |||
Buildings and Improvements, Initial Cost | 1,533 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,932 | |||
Accumulated Depreciation | 112 | |||
Retail Site | Greenville, OH I | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 460 | |||
Buildings and Improvements, Initial Cost | 1,900 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,360 | |||
Accumulated Depreciation | 125 | |||
Retail Site | Hamilton, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 441 | |||
Buildings and Improvements, Initial Cost | 1,344 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,785 | |||
Accumulated Depreciation | 100 | |||
Retail Site | Huntington, WV II | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 255 | |||
Buildings and Improvements, Initial Cost | 1,563 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,818 | |||
Accumulated Depreciation | 102 | |||
Retail Site | Jackson, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 596 | |||
Buildings and Improvements, Initial Cost | 1,487 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,083 | |||
Accumulated Depreciation | 109 | |||
Retail Site | Jeffersonville, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 193 | |||
Buildings and Improvements, Initial Cost | 1,508 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,701 | |||
Accumulated Depreciation | 126 | |||
Retail Site | Lavale, MD | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 527 | |||
Buildings and Improvements, Initial Cost | 2,536 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,063 | |||
Accumulated Depreciation | 168 | |||
Retail Site | Mt Pleasant, MI | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 559 | |||
Buildings and Improvements, Initial Cost | 1,149 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,708 | |||
Accumulated Depreciation | 95 | |||
Retail Site | New Martinsville, WV | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 703 | |||
Buildings and Improvements, Initial Cost | 1,206 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,909 | |||
Accumulated Depreciation | 87 | |||
Retail Site | Norwalk, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 123 | |||
Buildings and Improvements, Initial Cost | 2,559 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,682 | |||
Accumulated Depreciation | 179 | |||
Retail Site | South Point, OH | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 420 | |||
Buildings and Improvements, Initial Cost | 1,436 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,856 | |||
Accumulated Depreciation | 108 | |||
Retail Site | White Hall, WV | Bob Evans II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 347 | |||
Buildings and Improvements, Initial Cost | 1,185 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,532 | |||
Accumulated Depreciation | 81 | |||
Retail Site | Chanute, KS | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 81 | |||
Buildings and Improvements, Initial Cost | 642 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 723 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Mountain Home, ID | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 81 | |||
Buildings and Improvements, Initial Cost | 561 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 642 | |||
Accumulated Depreciation | 40 | |||
Retail Site | Canton, GA II | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 703 | |||
Buildings and Improvements, Initial Cost | 1,719 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,422 | |||
Accumulated Depreciation | 125 | |||
Retail Site | Clinton, SC | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 581 | |||
Buildings and Improvements, Initial Cost | 1,113 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,694 | |||
Accumulated Depreciation | 72 | |||
Retail Site | Cornelia, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 363 | |||
Buildings and Improvements, Initial Cost | 778 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,141 | |||
Accumulated Depreciation | 60 | |||
Retail Site | Cumming, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 161 | |||
Buildings and Improvements, Initial Cost | 1,403 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,564 | |||
Accumulated Depreciation | 96 | |||
Retail Site | Ellijay, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 517 | |||
Buildings and Improvements, Initial Cost | 1,803 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,320 | |||
Accumulated Depreciation | 132 | |||
Retail Site | Hogansville, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 141 | |||
Buildings and Improvements, Initial Cost | 1,068 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,209 | |||
Accumulated Depreciation | 92 | |||
Retail Site | Homer, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 221 | |||
Buildings and Improvements, Initial Cost | 991 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,212 | |||
Accumulated Depreciation | 73 | |||
Retail Site | McKaysville, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 371 | |||
Buildings and Improvements, Initial Cost | 720 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,091 | |||
Accumulated Depreciation | 48 | |||
Retail Site | Nettleton, MS | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 212 | |||
Buildings and Improvements, Initial Cost | 660 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 872 | |||
Accumulated Depreciation | 46 | |||
Retail Site | Riverdale, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,001 | |||
Buildings and Improvements, Initial Cost | 1,920 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,921 | |||
Accumulated Depreciation | 137 | |||
Retail Site | Toccoa, GA | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 315 | |||
Buildings and Improvements, Initial Cost | 708 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,023 | |||
Accumulated Depreciation | 52 | |||
Retail Site | Toccoa, GA II | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 262 | |||
Buildings and Improvements, Initial Cost | 908 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,170 | |||
Accumulated Depreciation | 66 | |||
Retail Site | Woodstock, GA I | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 913 | |||
Buildings and Improvements, Initial Cost | 1,628 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,541 | |||
Accumulated Depreciation | 125 | |||
Retail Site | Woodstock, GA II | Mountain Express III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,202 | |||
Buildings and Improvements, Initial Cost | 1,234 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,436 | |||
Accumulated Depreciation | 93 | |||
Retail Site | Carroll, IA | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 171 | |||
Buildings and Improvements, Initial Cost | 541 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 712 | |||
Accumulated Depreciation | 40 | |||
Retail Site | Cherokee, IA | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 131 | |||
Buildings and Improvements, Initial Cost | 347 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 478 | |||
Accumulated Depreciation | 25 | |||
Retail Site | Independence, MO | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 242 | |||
Buildings and Improvements, Initial Cost | 822 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,064 | |||
Accumulated Depreciation | 61 | |||
Retail Site | North Manakato, MN | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 213 | |||
Buildings and Improvements, Initial Cost | 334 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 547 | |||
Accumulated Depreciation | 31 | |||
Retail Site | St. Peter, MN | Taco John's | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 112 | |||
Buildings and Improvements, Initial Cost | 559 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 671 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Bonham, TX | White Oak III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 734 | |||
Buildings and Improvements, Initial Cost | 1,952 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,686 | |||
Accumulated Depreciation | 146 | |||
Retail Site | Houston, TX I | Davita II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 246 | |||
Buildings and Improvements, Initial Cost | 1,982 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,228 | |||
Accumulated Depreciation | 130 | |||
Retail Site | Charlotte, NC IV | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 236 | |||
Buildings and Improvements, Initial Cost | 916 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,152 | |||
Accumulated Depreciation | 67 | |||
Retail Site | Columbus, OH II | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 305 | |||
Buildings and Improvements, Initial Cost | 922 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,227 | |||
Accumulated Depreciation | 63 | |||
Retail Site | Columbus, OH III | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 187 | |||
Buildings and Improvements, Initial Cost | 464 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 651 | |||
Accumulated Depreciation | 33 | |||
Retail Site | Gastonia, NC | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 208 | |||
Buildings and Improvements, Initial Cost | 1,128 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,336 | |||
Accumulated Depreciation | 76 | |||
Retail Site | Midland, TX | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 207 | |||
Buildings and Improvements, Initial Cost | 662 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 869 | |||
Accumulated Depreciation | 42 | |||
Retail Site | New Lexington, OH | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 69 | |||
Buildings and Improvements, Initial Cost | 658 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 727 | |||
Accumulated Depreciation | 46 | |||
Retail Site | Newton, NC | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 79 | |||
Buildings and Improvements, Initial Cost | 755 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 834 | |||
Accumulated Depreciation | 49 | |||
Retail Site | Westerville, OH | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 167 | |||
Buildings and Improvements, Initial Cost | 830 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 997 | |||
Accumulated Depreciation | 58 | |||
Retail Site | Zaneville, OH | Pizza Hut I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 99 | |||
Buildings and Improvements, Initial Cost | 745 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 844 | |||
Accumulated Depreciation | 48 | |||
Retail Site | Burton, MI | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 236 | |||
Buildings and Improvements, Initial Cost | 1,022 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,258 | |||
Accumulated Depreciation | 68 | |||
Retail Site | Burton, MI II | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 88 | |||
Buildings and Improvements, Initial Cost | 684 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 772 | |||
Accumulated Depreciation | 51 | |||
Retail Site | Durand, MI | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 39 | |||
Buildings and Improvements, Initial Cost | 401 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 440 | |||
Accumulated Depreciation | 27 | |||
Retail Site | Flint, MI | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 30 | |||
Buildings and Improvements, Initial Cost | 553 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 583 | |||
Accumulated Depreciation | 36 | |||
Retail Site | Flint, MI II | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 39 | |||
Buildings and Improvements, Initial Cost | 632 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 671 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Flint, MI III | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 10 | |||
Buildings and Improvements, Initial Cost | 543 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 553 | |||
Accumulated Depreciation | 30 | |||
Retail Site | Flint, MI IV | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 49 | |||
Buildings and Improvements, Initial Cost | 577 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 626 | |||
Accumulated Depreciation | 40 | |||
Retail Site | Flint, MI V | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 108 | |||
Buildings and Improvements, Initial Cost | 569 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 677 | |||
Accumulated Depreciation | 37 | |||
Retail Site | Flint, MI VI | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 16 | |||
Buildings and Improvements, Initial Cost | 653 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 669 | |||
Accumulated Depreciation | 37 | |||
Retail Site | Flint, MI VII | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 30 | |||
Buildings and Improvements, Initial Cost | 781 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 811 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Swartz Creek, MI | Little Caesars I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 79 | |||
Buildings and Improvements, Initial Cost | 492 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 571 | |||
Accumulated Depreciation | 35 | |||
Retail Site | Americus, GA | Tractor Supply V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 329 | |||
Buildings and Improvements, Initial Cost | 2,522 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,851 | |||
Accumulated Depreciation | 160 | |||
Retail Site | Cadiz, OH | Tractor Supply V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 179 | |||
Buildings and Improvements, Initial Cost | 2,546 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,725 | |||
Accumulated Depreciation | 168 | |||
Retail Site | Catalina, AZ | Tractor Supply V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 953 | |||
Buildings and Improvements, Initial Cost | 3,061 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,014 | |||
Accumulated Depreciation | 197 | |||
Retail Site | Sorocco, NM | Tractor Supply V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 413 | |||
Buildings and Improvements, Initial Cost | 2,602 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,015 | |||
Accumulated Depreciation | 166 | |||
Retail Site | Fayetteville, NC II | Caliber Collision I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 372 | |||
Buildings and Improvements, Initial Cost | 1,269 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,641 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Lutz, FL I | Caliber Collision I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,745 | |||
Buildings and Improvements, Initial Cost | 2,696 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,441 | |||
Accumulated Depreciation | 174 | |||
Retail Site | Nolansville, TX | Caliber Collision I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 360 | |||
Buildings and Improvements, Initial Cost | 973 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,333 | |||
Accumulated Depreciation | 61 | |||
Retail Site | Cumming, GA I | Fresenius III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 141 | |||
Buildings and Improvements, Initial Cost | 1,206 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,347 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Enterprise, AL | Fresenius III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 523 | |||
Buildings and Improvements, Initial Cost | 2,854 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,377 | |||
Accumulated Depreciation | 179 | |||
Retail Site | Gulf Breeze, FL I | Fresenius III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 306 | |||
Buildings and Improvements, Initial Cost | 2,399 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,705 | |||
Accumulated Depreciation | 140 | |||
Retail Site | Monrowville, AL | Fresenius III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 219 | |||
Buildings and Improvements, Initial Cost | 1,330 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount | 1,561 | |||
Accumulated Depreciation | 88 | |||
Retail Site | Pendleton, SC | Fresenius III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 151 | |||
Buildings and Improvements, Initial Cost | 1,248 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,399 | |||
Accumulated Depreciation | 74 | |||
Retail Site | Thomasville, AL | Fresenius III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 482 | |||
Buildings and Improvements, Initial Cost | 1,045 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,527 | |||
Accumulated Depreciation | 70 | |||
Retail Site | Afton, WY | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 50 | |||
Buildings and Improvements, Initial Cost | 870 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 920 | |||
Accumulated Depreciation | 49 | |||
Retail Site | Alva, OK | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 191 | |||
Buildings and Improvements, Initial Cost | 1,129 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,320 | |||
Accumulated Depreciation | 67 | |||
Retail Site | Buffalo, WY | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 162 | |||
Buildings and Improvements, Initial Cost | 588 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 750 | |||
Accumulated Depreciation | 40 | |||
Retail Site | Canadian, TX | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 139 | |||
Buildings and Improvements, Initial Cost | 729 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 868 | |||
Accumulated Depreciation | 43 | |||
Retail Site | Cherokee, OK | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 101 | |||
Buildings and Improvements, Initial Cost | 474 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 575 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Cut Bank, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 131 | |||
Buildings and Improvements, Initial Cost | 808 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 939 | |||
Accumulated Depreciation | 48 | |||
Retail Site | Deer Lodge, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 181 | |||
Buildings and Improvements, Initial Cost | 449 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 630 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Dillion, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 71 | |||
Buildings and Improvements, Initial Cost | 760 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 831 | |||
Accumulated Depreciation | 43 | |||
Retail Site | Douglas, WY | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 322 | |||
Buildings and Improvements, Initial Cost | 1,085 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,407 | |||
Accumulated Depreciation | 65 | |||
Retail Site | Elkhart, KS | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 179 | |||
Buildings and Improvements, Initial Cost | 611 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 790 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Fairview, OK | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 120 | |||
Buildings and Improvements, Initial Cost | 789 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 909 | |||
Accumulated Depreciation | 48 | |||
Retail Site | Havre, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 175 | |||
Buildings and Improvements, Initial Cost | 2,061 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,236 | |||
Accumulated Depreciation | 113 | |||
Retail Site | Helena, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 132 | |||
Buildings and Improvements, Initial Cost | 887 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,019 | |||
Accumulated Depreciation | 51 | |||
Retail Site | Hennessey, OK | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 81 | |||
Buildings and Improvements, Initial Cost | 743 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 824 | |||
Accumulated Depreciation | 40 | |||
Retail Site | Hugoton, KS | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 112 | |||
Buildings and Improvements, Initial Cost | 948 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,060 | |||
Accumulated Depreciation | 51 | |||
Retail Site | Larned, KS | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 159 | |||
Buildings and Improvements, Initial Cost | 633 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 792 | |||
Accumulated Depreciation | 44 | |||
Retail Site | Lewistown, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 131 | |||
Buildings and Improvements, Initial Cost | 793 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 924 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Libby, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 50 | |||
Buildings and Improvements, Initial Cost | 1,011 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,061 | |||
Accumulated Depreciation | 57 | |||
Retail Site | Liberal, KS | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 20 | |||
Buildings and Improvements, Initial Cost | 956 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 976 | |||
Accumulated Depreciation | 47 | |||
Retail Site | Meade, KS | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 121 | |||
Buildings and Improvements, Initial Cost | 637 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 758 | |||
Accumulated Depreciation | 37 | |||
Retail Site | Newcastle, WY | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 71 | |||
Buildings and Improvements, Initial Cost | 735 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 806 | |||
Accumulated Depreciation | 40 | |||
Retail Site | Polson, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 151 | |||
Buildings and Improvements, Initial Cost | 1,090 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,241 | |||
Accumulated Depreciation | 62 | |||
Retail Site | Roosevelt, UT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 220 | |||
Buildings and Improvements, Initial Cost | 960 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,180 | |||
Accumulated Depreciation | 56 | |||
Retail Site | Shattuck, OK | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 100 | |||
Buildings and Improvements, Initial Cost | 531 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 631 | |||
Accumulated Depreciation | 33 | |||
Retail Site | Shelby, MT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 150 | |||
Buildings and Improvements, Initial Cost | 502 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 652 | |||
Accumulated Depreciation | 34 | |||
Retail Site | Sperman, TX | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 230 | |||
Buildings and Improvements, Initial Cost | 869 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,099 | |||
Accumulated Depreciation | 55 | |||
Retail Site | Thermpolis, WY | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 70 | |||
Buildings and Improvements, Initial Cost | 863 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 933 | |||
Accumulated Depreciation | 50 | |||
Retail Site | Ulyses, KS | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 121 | |||
Buildings and Improvements, Initial Cost | 1,108 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,229 | |||
Accumulated Depreciation | 64 | |||
Retail Site | Vernal, UT | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 211 | |||
Buildings and Improvements, Initial Cost | 733 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 944 | |||
Accumulated Depreciation | 44 | |||
Retail Site | Watonga, OK | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 70 | |||
Buildings and Improvements, Initial Cost | 939 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,009 | |||
Accumulated Depreciation | 53 | |||
Retail Site | Wheatland, WY | Pizza Hut II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 153 | |||
Buildings and Improvements, Initial Cost | 825 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 978 | |||
Accumulated Depreciation | 49 | |||
Retail Site | Cabot, AR | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 206 | |||
Buildings and Improvements, Initial Cost | 816 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,022 | |||
Accumulated Depreciation | 61 | |||
Retail Site | Corning, AR | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 283 | |||
Buildings and Improvements, Initial Cost | 865 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,148 | |||
Accumulated Depreciation | 41 | |||
Retail Site | El Dorado, AR | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 371 | |||
Buildings and Improvements, Initial Cost | 1,180 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,551 | |||
Accumulated Depreciation | 75 | |||
Retail Site | El Dorado, AR I | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 217 | |||
Buildings and Improvements, Initial Cost | 668 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 885 | |||
Accumulated Depreciation | 39 | |||
Retail Site | El Dorado, AR II | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,258 | |||
Buildings and Improvements, Initial Cost | 1,475 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,733 | |||
Accumulated Depreciation | 101 | |||
Retail Site | Fordyce, AR | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 548 | |||
Buildings and Improvements, Initial Cost | 1,530 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,078 | |||
Accumulated Depreciation | 75 | |||
Retail Site | Hope, AR | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 705 | |||
Buildings and Improvements, Initial Cost | 783 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,488 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Searcy, AR | Mountain Express IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,007 | |||
Buildings and Improvements, Initial Cost | 787 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,794 | |||
Accumulated Depreciation | 39 | |||
Retail Site | Buford, GA I | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 436 | |||
Buildings and Improvements, Initial Cost | 1,695 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,131 | |||
Accumulated Depreciation | 91 | |||
Retail Site | Buford, GA II | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 337 | |||
Buildings and Improvements, Initial Cost | 1,715 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,052 | |||
Accumulated Depreciation | 101 | |||
Retail Site | Canton, GA I | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 198 | |||
Buildings and Improvements, Initial Cost | 1,821 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,019 | |||
Accumulated Depreciation | 93 | |||
Retail Site | Conyers, GA I | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 199 | |||
Buildings and Improvements, Initial Cost | 2,220 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,419 | |||
Accumulated Depreciation | 126 | |||
Retail Site | Dahlonega, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 687 | |||
Buildings and Improvements, Initial Cost | 942 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,629 | |||
Accumulated Depreciation | 52 | |||
Retail Site | Elberton, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 268 | |||
Buildings and Improvements, Initial Cost | 1,760 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,028 | |||
Accumulated Depreciation | 110 | |||
Retail Site | Forest Park, GA II | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 983 | |||
Buildings and Improvements, Initial Cost | 1,118 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,101 | |||
Accumulated Depreciation | 59 | |||
Retail Site | Jonesboro, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 456 | |||
Buildings and Improvements, Initial Cost | 1,960 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,416 | |||
Accumulated Depreciation | 106 | |||
Retail Site | Lithia Springs, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 776 | |||
Buildings and Improvements, Initial Cost | 1,282 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,058 | |||
Accumulated Depreciation | 72 | |||
Retail Site | Lithia Springs, GA II | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 905 | |||
Buildings and Improvements, Initial Cost | 1,267 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,172 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Loganville, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 258 | |||
Buildings and Improvements, Initial Cost | 2,102 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,360 | |||
Accumulated Depreciation | 115 | |||
Retail Site | Macon, GA I | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 543 | |||
Buildings and Improvements, Initial Cost | 908 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,451 | |||
Accumulated Depreciation | 52 | |||
Retail Site | Stockbridge, GA II | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 129 | |||
Buildings and Improvements, Initial Cost | 1,938 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,067 | |||
Accumulated Depreciation | 100 | |||
Retail Site | Alexandria, LA | Fresenius IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 342 | |||
Buildings and Improvements, Initial Cost | 2,505 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,847 | |||
Accumulated Depreciation | 121 | |||
Retail Site | Forest Park, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,473 | |||
Buildings and Improvements, Initial Cost | 720 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,193 | |||
Accumulated Depreciation | 44 | |||
Retail Site | New Cordell, OK | Tractor Supply V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 332 | |||
Buildings and Improvements, Initial Cost | 2,246 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,578 | |||
Accumulated Depreciation | 135 | |||
Retail Site | Macon, GA III | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,085 | |||
Buildings and Improvements, Initial Cost | 872 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,957 | |||
Accumulated Depreciation | 50 | |||
Retail Site | Norcross, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 710 | |||
Buildings and Improvements, Initial Cost | 2,722 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,432 | |||
Accumulated Depreciation | 143 | |||
Retail Site | Snellville, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 548 | |||
Buildings and Improvements, Initial Cost | 688 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,236 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Covington, GA | Mountain Express V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 119 | |||
Buildings and Improvements, Initial Cost | 2,325 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,444 | |||
Accumulated Depreciation | 113 | |||
Retail Site | Baton Rouge, LA | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 255 | |||
Buildings and Improvements, Initial Cost | 1,772 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,027 | |||
Accumulated Depreciation | 89 | |||
Retail Site | Bridge City, TX | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 196 | |||
Buildings and Improvements, Initial Cost | 1,975 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,171 | |||
Accumulated Depreciation | 103 | |||
Retail Site | Gonzales, LA | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 367 | |||
Buildings and Improvements, Initial Cost | 1,622 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,989 | |||
Accumulated Depreciation | 87 | |||
Retail Site | Gonzales, LA II | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 246 | |||
Buildings and Improvements, Initial Cost | 1,622 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,868 | |||
Accumulated Depreciation | 82 | |||
Retail Site | Kenner, LA | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 469 | |||
Buildings and Improvements, Initial Cost | 1,409 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,878 | |||
Accumulated Depreciation | 70 | |||
Retail Site | Lake Charles, LA I | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 534 | |||
Buildings and Improvements, Initial Cost | 1,411 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,945 | |||
Accumulated Depreciation | 75 | |||
Retail Site | Lake Charles, LA II | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 349 | |||
Buildings and Improvements, Initial Cost | 1,525 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,874 | |||
Accumulated Depreciation | 87 | |||
Retail Site | Lake Charles, LA III | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 508 | |||
Buildings and Improvements, Initial Cost | 1,246 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,754 | |||
Accumulated Depreciation | 65 | |||
Retail Site | Lake Charles, LA IV | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 472 | |||
Buildings and Improvements, Initial Cost | 1,523 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,995 | |||
Accumulated Depreciation | 73 | |||
Retail Site | Orange, TX | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 1,867 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,081 | |||
Accumulated Depreciation | 101 | |||
Retail Site | St. Rose, LA | IMTAA | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 287 | |||
Buildings and Improvements, Initial Cost | 1,214 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,501 | |||
Accumulated Depreciation | 63 | |||
Retail Site | Casper, WY I | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 382 | |||
Buildings and Improvements, Initial Cost | 1,044 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,426 | |||
Accumulated Depreciation | 54 | |||
Retail Site | Casper, WY II | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 255 | |||
Buildings and Improvements, Initial Cost | 1,040 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,295 | |||
Accumulated Depreciation | 47 | |||
Retail Site | Colorado Springs, CO | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 252 | |||
Buildings and Improvements, Initial Cost | 961 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,213 | |||
Accumulated Depreciation | 44 | |||
Retail Site | Dodge City, KS | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 166 | |||
Buildings and Improvements, Initial Cost | 1,163 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,329 | |||
Accumulated Depreciation | 57 | |||
Retail Site | Garden City, KS | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 197 | |||
Buildings and Improvements, Initial Cost | 680 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 877 | |||
Accumulated Depreciation | 33 | |||
Retail Site | Great Falls, MT | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 262 | |||
Buildings and Improvements, Initial Cost | 633 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 895 | |||
Accumulated Depreciation | 30 | |||
Retail Site | Great Falls, MT II | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 265 | |||
Buildings and Improvements, Initial Cost | 598 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 863 | |||
Accumulated Depreciation | 32 | |||
Retail Site | Guymon, OK | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 155 | |||
Buildings and Improvements, Initial Cost | 1,208 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,363 | |||
Accumulated Depreciation | 54 | |||
Retail Site | Kalispell, MT | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 735 | |||
Buildings and Improvements, Initial Cost | 1,139 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,874 | |||
Accumulated Depreciation | 62 | |||
Retail Site | Missoula, MT | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 653 | |||
Buildings and Improvements, Initial Cost | 595 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,248 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Perryton, TX | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 309 | |||
Buildings and Improvements, Initial Cost | 1,429 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,738 | |||
Accumulated Depreciation | 66 | |||
Retail Site | Sterling, CO | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 150 | |||
Buildings and Improvements, Initial Cost | 968 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,118 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Brockhaven, MS | Fresenius V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 581 | |||
Buildings and Improvements, Initial Cost | 1,548 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 16 | |||
Gross Amount | 2,145 | |||
Accumulated Depreciation | 78 | |||
Retail Site | Centreville, MS | Fresenius V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 236 | |||
Buildings and Improvements, Initial Cost | 732 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 968 | |||
Accumulated Depreciation | 37 | |||
Retail Site | Chicago, IL | Fresenius VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 313 | |||
Buildings and Improvements, Initial Cost | 1,110 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,423 | |||
Accumulated Depreciation | 48 | |||
Retail Site | Smackover, AR | Mountain Express VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,519 | |||
Buildings and Improvements, Initial Cost | 841 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,360 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Woodward, OK | Pizza Hut III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 525 | |||
Buildings and Improvements, Initial Cost | 1,644 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,169 | |||
Accumulated Depreciation | 73 | |||
Retail Site | Athens, TX | Fresenius VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 907 | |||
Buildings and Improvements, Initial Cost | 4,515 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,422 | |||
Accumulated Depreciation | 198 | |||
Retail Site | Idabel, OK | Fresenius VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 298 | |||
Buildings and Improvements, Initial Cost | 2,319 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,617 | |||
Accumulated Depreciation | 104 | |||
Retail Site | Tyler, TX | Fresenius VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 314 | |||
Buildings and Improvements, Initial Cost | 1,677 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,991 | |||
Accumulated Depreciation | 78 | |||
Retail Site | Pueblo, CO | Caliber Collision II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 866 | |||
Buildings and Improvements, Initial Cost | 1,807 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,673 | |||
Accumulated Depreciation | 79 | |||
Retail Site | Brownsville, KY | Dollar General XXV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 170 | |||
Buildings and Improvements, Initial Cost | 915 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,085 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Custer, KY | Dollar General XXV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 138 | |||
Buildings and Improvements, Initial Cost | 675 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 813 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Elkton, KY | Dollar General XXV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 89 | |||
Buildings and Improvements, Initial Cost | 731 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 820 | |||
Accumulated Depreciation | 33 | |||
Retail Site | Falls of Rough, KY | Dollar General XXV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 141 | |||
Buildings and Improvements, Initial Cost | 692 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 833 | |||
Accumulated Depreciation | 29 | |||
Retail Site | Sedalia, KY | Dollar General XXV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 177 | |||
Buildings and Improvements, Initial Cost | 678 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 855 | |||
Accumulated Depreciation | 32 | |||
Retail Site | Clarksville, IA | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 80 | |||
Buildings and Improvements, Initial Cost | 1,023 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,103 | |||
Accumulated Depreciation | 39 | |||
Retail Site | Lincoln, MI | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 90 | |||
Buildings and Improvements, Initial Cost | 1,006 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,096 | |||
Accumulated Depreciation | 52 | |||
Retail Site | Tabor, IA | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 101 | |||
Buildings and Improvements, Initial Cost | 907 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,008 | |||
Accumulated Depreciation | 51 | |||
Retail Site | Athens, GA I | Mister Carwash I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,892 | |||
Buildings and Improvements, Initial Cost | 2,350 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,242 | |||
Accumulated Depreciation | 131 | |||
Retail Site | Cumming, GA II | Mister Carwash I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,363 | |||
Buildings and Improvements, Initial Cost | 2,730 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,093 | |||
Accumulated Depreciation | 142 | |||
Retail Site | Monroe, GA | Mister Carwash I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,376 | |||
Buildings and Improvements, Initial Cost | 2,120 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,496 | |||
Accumulated Depreciation | 120 | |||
Retail Site | Assumption, IL | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 111 | |||
Buildings and Improvements, Initial Cost | 885 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 996 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Curtis, MI | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 100 | |||
Buildings and Improvements, Initial Cost | 986 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,086 | |||
Accumulated Depreciation | 47 | |||
Retail Site | Harrisville, MI | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 209 | |||
Buildings and Improvements, Initial Cost | 964 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,173 | |||
Accumulated Depreciation | 50 | |||
Retail Site | Mora, MN | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 192 | |||
Buildings and Improvements, Initial Cost | 976 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,168 | |||
Accumulated Depreciation | 43 | |||
Retail Site | Washburn IL | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 140 | |||
Buildings and Improvements, Initial Cost | 868 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,008 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Dublin GA | Checkers I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 161 | |||
Buildings and Improvements, Initial Cost | 746 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 907 | |||
Accumulated Depreciation | 36 | |||
Retail Site | El Paso TX | DaVita III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 331 | |||
Buildings and Improvements, Initial Cost | 2,954 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,285 | |||
Accumulated Depreciation | 108 | |||
Retail Site | Baltimore MD | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 860 | |||
Buildings and Improvements, Initial Cost | 614 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,474 | |||
Accumulated Depreciation | 27 | |||
Retail Site | Brunswick, OH | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 429 | |||
Buildings and Improvements, Initial Cost | 2,327 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,756 | |||
Accumulated Depreciation | 92 | |||
Retail Site | Burgaw, NC | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 60 | |||
Buildings and Improvements, Initial Cost | 1,410 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,470 | |||
Accumulated Depreciation | 54 | |||
Retail Site | Detroit, MI I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 283 | |||
Buildings and Improvements, Initial Cost | 1,964 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,247 | |||
Accumulated Depreciation | 78 | |||
Retail Site | Elizabethtown, NC | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 40 | |||
Buildings and Improvements, Initial Cost | 2,327 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,367 | |||
Accumulated Depreciation | 81 | |||
Retail Site | Goose Creek, SC | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 328 | |||
Buildings and Improvements, Initial Cost | 1,651 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,979 | |||
Accumulated Depreciation | 59 | |||
Retail Site | Greenville, SC VI | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,132 | |||
Buildings and Improvements, Initial Cost | 1,083 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,215 | |||
Accumulated Depreciation | 50 | |||
Retail Site | Jackson, TN | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 256 | |||
Buildings and Improvements, Initial Cost | 1,329 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,585 | |||
Accumulated Depreciation | 61 | |||
Retail Site | Kyle, TX | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 416 | |||
Buildings and Improvements, Initial Cost | 2,228 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,644 | |||
Accumulated Depreciation | 88 | |||
Retail Site | Las Vegas, NV II | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 883 | |||
Buildings and Improvements, Initial Cost | 3,869 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,752 | |||
Accumulated Depreciation | 142 | |||
Retail Site | Lexington, TN | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 111 | |||
Buildings and Improvements, Initial Cost | 1,128 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,239 | |||
Accumulated Depreciation | 49 | |||
Retail Site | Merrillville, IN | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 639 | |||
Buildings and Improvements, Initial Cost | 1,128 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,767 | |||
Accumulated Depreciation | 45 | |||
Retail Site | New Orleans, LA | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 559 | |||
Buildings and Improvements, Initial Cost | 1,305 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 80 | |||
Gross Amount | 1,944 | |||
Accumulated Depreciation | 52 | |||
Retail Site | North Charleston, SC I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 424 | |||
Buildings and Improvements, Initial Cost | 1,564 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,988 | |||
Accumulated Depreciation | 58 | |||
Retail Site | Parma, OH | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 208 | |||
Buildings and Improvements, Initial Cost | 1,271 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 7 | |||
Gross Amount | 1,486 | |||
Accumulated Depreciation | 45 | |||
Retail Site | Rocky River, OH | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 327 | |||
Buildings and Improvements, Initial Cost | 1,782 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,109 | |||
Accumulated Depreciation | 62 | |||
Retail Site | Seguin, TX | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 91 | |||
Buildings and Improvements, Initial Cost | 1,889 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,980 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Shallotte, NC | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 174 | |||
Buildings and Improvements, Initial Cost | 1,308 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,482 | |||
Accumulated Depreciation | 48 | |||
Retail Site | Spartanburg, SC | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 188 | |||
Buildings and Improvements, Initial Cost | 1,133 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,321 | |||
Accumulated Depreciation | 47 | |||
Retail Site | Albuquerque, NM | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 3,136 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1,676 | |||
Gross Amount | 5,026 | |||
Accumulated Depreciation | 160 | |||
Retail Site | Anchorage, AK | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,315 | |||
Buildings and Improvements, Initial Cost | 4,108 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,423 | |||
Accumulated Depreciation | 157 | |||
Retail Site | Anniston, AL I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 322 | |||
Buildings and Improvements, Initial Cost | 3,782 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,104 | |||
Accumulated Depreciation | 132 | |||
Retail Site | Augusta, GA | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 364 | |||
Buildings and Improvements, Initial Cost | 1,803 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,167 | |||
Accumulated Depreciation | 68 | |||
Retail Site | Belleville, IL | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 129 | |||
Buildings and Improvements, Initial Cost | 2,271 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,400 | |||
Accumulated Depreciation | 82 | |||
Retail Site | Berea, KY | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 159 | |||
Buildings and Improvements, Initial Cost | 2,079 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,238 | |||
Accumulated Depreciation | 74 | |||
Retail Site | Bowling Green, KY | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 442 | |||
Buildings and Improvements, Initial Cost | 2,865 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,307 | |||
Accumulated Depreciation | 105 | |||
Retail Site | Brunswick, GA II | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 376 | |||
Buildings and Improvements, Initial Cost | 1,734 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,110 | |||
Accumulated Depreciation | 62 | |||
Retail Site | Charlotte, NC I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 906 | |||
Buildings and Improvements, Initial Cost | 1,894 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 10 | |||
Gross Amount | 2,810 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Conway, NH | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 70 | |||
Buildings and Improvements, Initial Cost | 1,370 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,440 | |||
Accumulated Depreciation | 60 | |||
Retail Site | Diamondhead, MS | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 91 | |||
Buildings and Improvements, Initial Cost | 2,693 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,784 | |||
Accumulated Depreciation | 97 | |||
Retail Site | Durham, NC I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 626 | |||
Buildings and Improvements, Initial Cost | 1,737 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 13 | |||
Gross Amount | 2,376 | |||
Accumulated Depreciation | 66 | |||
Retail Site | Etters, PA | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 643 | |||
Buildings and Improvements, Initial Cost | 2,926 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,569 | |||
Accumulated Depreciation | 107 | |||
Retail Site | Gary, IN | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 241 | |||
Buildings and Improvements, Initial Cost | 2,023 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,264 | |||
Accumulated Depreciation | 71 | |||
Retail Site | Hopkinsville, KY | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 62 | |||
Buildings and Improvements, Initial Cost | 2,785 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,847 | |||
Accumulated Depreciation | 99 | |||
Retail Site | Lexington, KY I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 439 | |||
Buildings and Improvements, Initial Cost | 2,277 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,716 | |||
Accumulated Depreciation | 84 | |||
Retail Site | Madisonville, KY | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 134 | |||
Buildings and Improvements, Initial Cost | 1,257 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,391 | |||
Accumulated Depreciation | 46 | |||
Retail Site | Mentor, OH I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 102 | |||
Buildings and Improvements, Initial Cost | 1,921 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,023 | |||
Accumulated Depreciation | 77 | |||
Retail Site | Monticello, KY | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 235 | |||
Buildings and Improvements, Initial Cost | 2,119 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,354 | |||
Accumulated Depreciation | 79 | |||
Retail Site | New Castle, PA | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 153 | |||
Buildings and Improvements, Initial Cost | 1,135 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,288 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Palmdale, CA | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 414 | |||
Buildings and Improvements, Initial Cost | 1,887 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,301 | |||
Accumulated Depreciation | 72 | |||
Retail Site | Radcliff, KY | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 262 | |||
Buildings and Improvements, Initial Cost | 2,391 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,653 | |||
Accumulated Depreciation | 87 | |||
Retail Site | Richmond, VA I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 283 | |||
Buildings and Improvements, Initial Cost | 2,111 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,394 | |||
Accumulated Depreciation | 75 | |||
Retail Site | River Forest, IL | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 527 | |||
Buildings and Improvements, Initial Cost | 3,646 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,173 | |||
Accumulated Depreciation | 121 | |||
Retail Site | Roanoke, VA I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 456 | |||
Buildings and Improvements, Initial Cost | 2,143 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,599 | |||
Accumulated Depreciation | 79 | |||
Retail Site | Rocky MT, NC I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 143 | |||
Buildings and Improvements, Initial Cost | 3,515 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,658 | |||
Accumulated Depreciation | 141 | |||
Retail Site | Salem, OH I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 2,457 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,721 | |||
Accumulated Depreciation | 96 | |||
Retail Site | Salem, VA | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 326 | |||
Buildings and Improvements, Initial Cost | 2,083 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 7 | |||
Gross Amount | 2,416 | |||
Accumulated Depreciation | 70 | |||
Retail Site | Sarasota, FL I | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 650 | |||
Buildings and Improvements, Initial Cost | 1,914 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,564 | |||
Accumulated Depreciation | 67 | |||
Retail Site | Summerville, SC | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 317 | |||
Buildings and Improvements, Initial Cost | 1,826 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,143 | |||
Accumulated Depreciation | 65 | |||
Retail Site | Anderson, IN | Dialysis II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 375 | |||
Buildings and Improvements, Initial Cost | 1,530 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,905 | |||
Accumulated Depreciation | 58 | |||
Retail Site | Potomac, IL | Dollar General XXIV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 153 | |||
Buildings and Improvements, Initial Cost | 858 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,011 | |||
Accumulated Depreciation | 41 | |||
Retail Site | Canton, GA III | Mister Carwash II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,105 | |||
Buildings and Improvements, Initial Cost | 2,291 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,396 | |||
Accumulated Depreciation | 121 | |||
Retail Site | Johns Creek, GA | Mister Carwash II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,664 | |||
Buildings and Improvements, Initial Cost | 1,833 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,497 | |||
Accumulated Depreciation | 91 | |||
Retail Site | Burlington, WI | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 259 | |||
Buildings and Improvements, Initial Cost | 1,090 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,349 | |||
Accumulated Depreciation | 38 | |||
Retail Site | Greenville, OH II | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 207 | |||
Buildings and Improvements, Initial Cost | 438 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 645 | |||
Accumulated Depreciation | 18 | |||
Retail Site | Huntingdon, PA | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 160 | |||
Buildings and Improvements, Initial Cost | 569 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 729 | |||
Accumulated Depreciation | 26 | |||
Retail Site | Marshfield, WI | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 244 | |||
Buildings and Improvements, Initial Cost | 1,013 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,257 | |||
Accumulated Depreciation | 34 | |||
Retail Site | Piqua, OH | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 130 | |||
Buildings and Improvements, Initial Cost | 575 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 705 | |||
Accumulated Depreciation | 25 | |||
Retail Site | Selma, AL | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 91 | |||
Buildings and Improvements, Initial Cost | 572 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 663 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Tomah, WI | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 286 | |||
Buildings and Improvements, Initial Cost | 842 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,128 | |||
Accumulated Depreciation | 28 | |||
Retail Site | Waynesboro, PA | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 137 | |||
Buildings and Improvements, Initial Cost | 832 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 969 | |||
Accumulated Depreciation | 30 | |||
Retail Site | Waynesburg, PA | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 611 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 825 | |||
Accumulated Depreciation | 29 | |||
Retail Site | Cedar Grove, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 302 | |||
Buildings and Improvements, Initial Cost | 552 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 854 | |||
Accumulated Depreciation | 18 | |||
Retail Site | Danville, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 147 | |||
Buildings and Improvements, Initial Cost | 641 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 788 | |||
Accumulated Depreciation | 21 | |||
Retail Site | Greenup, KY | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 263 | |||
Buildings and Improvements, Initial Cost | 408 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 671 | |||
Accumulated Depreciation | 17 | |||
Retail Site | Hamlin, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 162 | |||
Buildings and Improvements, Initial Cost | 670 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 832 | |||
Accumulated Depreciation | 23 | |||
Retail Site | Milton, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 315 | |||
Buildings and Improvements, Initial Cost | 678 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 993 | |||
Accumulated Depreciation | 23 | |||
Retail Site | Moundsville, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 463 | |||
Buildings and Improvements, Initial Cost | 1,314 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,777 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Point Pleasant, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 346 | |||
Buildings and Improvements, Initial Cost | 721 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,067 | |||
Accumulated Depreciation | 30 | |||
Retail Site | Sissonville, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 350 | |||
Buildings and Improvements, Initial Cost | 923 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,273 | |||
Accumulated Depreciation | 30 | |||
Retail Site | South Williamson, KY | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 330 | |||
Buildings and Improvements, Initial Cost | 891 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,221 | |||
Accumulated Depreciation | 29 | |||
Retail Site | Wellsburg, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 235 | |||
Buildings and Improvements, Initial Cost | 442 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 677 | |||
Accumulated Depreciation | 17 | |||
Retail Site | West Charleston, WV | Advance Auto V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 224 | |||
Buildings and Improvements, Initial Cost | 873 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,097 | |||
Accumulated Depreciation | 29 | |||
Retail Site | Indianapolis, IN | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 215 | |||
Buildings and Improvements, Initial Cost | 543 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 758 | |||
Accumulated Depreciation | 19 | |||
Retail Site | Menomonie, WI | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 350 | |||
Buildings and Improvements, Initial Cost | 696 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,046 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Montgomery, AL | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 92 | |||
Buildings and Improvements, Initial Cost | 710 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 802 | |||
Accumulated Depreciation | 23 | |||
Retail Site | Springfield, OH I | Advance Auto IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 91 | |||
Buildings and Improvements, Initial Cost | 607 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 698 | |||
Accumulated Depreciation | 20 | |||
Retail Site | Brooks, GA | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 157 | |||
Buildings and Improvements, Initial Cost | 947 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,104 | |||
Accumulated Depreciation | 35 | |||
Retail Site | Daleville, AL | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 81 | |||
Buildings and Improvements, Initial Cost | 817 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 898 | |||
Accumulated Depreciation | 24 | |||
Retail Site | East Brewton, AL | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 133 | |||
Buildings and Improvements, Initial Cost | 831 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 964 | |||
Accumulated Depreciation | 24 | |||
Retail Site | LaGrange, GA | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 364 | |||
Buildings and Improvements, Initial Cost | 801 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,165 | |||
Accumulated Depreciation | 32 | |||
Retail Site | La Grange, GA II | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 431 | |||
Buildings and Improvements, Initial Cost | 850 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,281 | |||
Accumulated Depreciation | 33 | |||
Retail Site | Madisonville, TN | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 468 | |||
Buildings and Improvements, Initial Cost | 833 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,301 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Maryville, TN | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 264 | |||
Buildings and Improvements, Initial Cost | 906 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,170 | |||
Accumulated Depreciation | 27 | |||
Retail Site | Mobile, AL | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 130 | |||
Buildings and Improvements, Initial Cost | 982 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,112 | |||
Accumulated Depreciation | 28 | |||
Retail Site | Newport, TN | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 255 | |||
Buildings and Improvements, Initial Cost | 836 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,091 | |||
Accumulated Depreciation | 25 | |||
Retail Site | Robertsdale, AL I | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 110 | |||
Buildings and Improvements, Initial Cost | 1,486 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,596 | |||
Accumulated Depreciation | 42 | |||
Retail Site | Valley, AL | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 112 | |||
Buildings and Improvements, Initial Cost | 884 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 996 | |||
Accumulated Depreciation | 27 | |||
Retail Site | Wetumpka, AL | Dollar General XXVI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 263 | |||
Buildings and Improvements, Initial Cost | 1,038 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,301 | |||
Accumulated Depreciation | 31 | |||
Retail Site | Black Mountain, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 360 | |||
Buildings and Improvements, Initial Cost | 357 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 717 | |||
Accumulated Depreciation | 12 | |||
Retail Site | Canton, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 176 | |||
Buildings and Improvements, Initial Cost | 718 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 894 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Creedmoor, NC I | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 225 | |||
Buildings and Improvements, Initial Cost | 672 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 897 | |||
Accumulated Depreciation | 23 | |||
Retail Site | Granite Falls, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 215 | |||
Buildings and Improvements, Initial Cost | 460 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 675 | |||
Accumulated Depreciation | 15 | |||
Retail Site | Harrisburg, IL | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 97 | |||
Buildings and Improvements, Initial Cost | 440 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 537 | |||
Accumulated Depreciation | 17 | |||
Retail Site | Hendersonville, NC I | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 694 | |||
Buildings and Improvements, Initial Cost | 438 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,132 | |||
Accumulated Depreciation | 15 | |||
Retail Site | Jefferson, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 185 | |||
Buildings and Improvements, Initial Cost | 432 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 617 | |||
Accumulated Depreciation | 15 | |||
Retail Site | King, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 258 | |||
Buildings and Improvements, Initial Cost | 634 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 892 | |||
Accumulated Depreciation | 20 | |||
Retail Site | Mocksville, NC | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 399 | |||
Buildings and Improvements, Initial Cost | 258 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 657 | |||
Accumulated Depreciation | 11 | |||
Retail Site | Mount Vernon, IL | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 245 | |||
Buildings and Improvements, Initial Cost | 497 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 742 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Pennington Gap, VA | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 30 | |||
Buildings and Improvements, Initial Cost | 434 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 464 | |||
Accumulated Depreciation | 13 | |||
Retail Site | Pineville, KY | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 137 | |||
Buildings and Improvements, Initial Cost | 337 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 474 | |||
Accumulated Depreciation | 15 | |||
Retail Site | Robinson, IL | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 214 | |||
Buildings and Improvements, Initial Cost | 457 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 671 | |||
Accumulated Depreciation | 24 | |||
Retail Site | Yadkinville, NC I | Pizza Hut IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 143 | |||
Buildings and Improvements, Initial Cost | 446 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 589 | |||
Accumulated Depreciation | 14 | |||
Office Building | Montevalo, AL | Fresenius I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Office Building | Howard, WI | United Healthcare I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,805 | |||
Buildings and Improvements, Initial Cost | 47,565 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 51,370 | |||
Accumulated Depreciation | 9,186 | |||
Office Building | Eagle Pass, TX | Talecris Plasma Resources I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 286 | |||
Buildings and Improvements, Initial Cost | 2,577 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,863 | |||
Accumulated Depreciation | 767 | |||
Office Building | Winchester, KY | Amazon I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 362 | |||
Buildings and Improvements, Initial Cost | 8,070 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 2 | |||
Gross Amount | 8,434 | |||
Accumulated Depreciation | 2,688 | |||
Office Building | Syracuse, NY | SAAB Sensis I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 6,217 | |||
Land, Initial Cost | 2,516 | |||
Buildings and Improvements, Initial Cost | 12,570 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 15,086 | |||
Accumulated Depreciation | 2,499 | |||
Office Building | Creedmoor, NC | Truist Bank IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 306 | |||
Buildings and Improvements, Initial Cost | 789 | |||
Land, Costs Capitalized Subsequent to Acquisition | (128) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | (300) | |||
Gross Amount | 667 | |||
Accumulated Depreciation | 124 | |||
Office Building | Richmond, VA II | Truist Bank III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,141 | |||
Buildings and Improvements, Initial Cost | 7,441 | |||
Land, Costs Capitalized Subsequent to Acquisition | (804) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 755 | |||
Gross Amount | 10,533 | |||
Accumulated Depreciation | 1,840 | |||
Office Building | Bridgewater, NJ | Sanofi US I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 125,000 | |||
Land, Initial Cost | 16,009 | |||
Buildings and Improvements, Initial Cost | 194,287 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 210,296 | |||
Accumulated Depreciation | 35,136 | |||
Office Building | New Britain, PA | Children of America I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 224 | |||
Buildings and Improvements, Initial Cost | 3,319 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,543 | |||
Accumulated Depreciation | 222 | |||
Office Building | Warminster, PA | Children of America I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 284 | |||
Buildings and Improvements, Initial Cost | 3,225 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,509 | |||
Accumulated Depreciation | 215 | |||
Distribution Property | Belvidere, IL | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,170 | |||
Buildings and Improvements, Initial Cost | 17,843 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 20,013 | |||
Accumulated Depreciation | 6,928 | |||
Distribution Property | Brooklyn Park, MN | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,590 | |||
Buildings and Improvements, Initial Cost | 11,940 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 13,530 | |||
Accumulated Depreciation | 4,636 | |||
Distribution Property | Cartersville, GA | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,640 | |||
Buildings and Improvements, Initial Cost | 14,533 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 16,173 | |||
Accumulated Depreciation | 5,643 | |||
Distribution Property | Douglas, GA | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 750 | |||
Buildings and Improvements, Initial Cost | 7,076 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 7,826 | |||
Accumulated Depreciation | 2,747 | |||
Distribution Property | Gaffney, SC | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,360 | |||
Buildings and Improvements, Initial Cost | 5,666 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 7,026 | |||
Accumulated Depreciation | 2,200 | |||
Distribution Property | Gainesville, GA | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,580 | |||
Buildings and Improvements, Initial Cost | 13,838 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 15,418 | |||
Accumulated Depreciation | 5,372 | |||
Distribution Property | Pendergrass, GA | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,810 | |||
Buildings and Improvements, Initial Cost | 26,572 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 29,382 | |||
Accumulated Depreciation | 10,317 | |||
Distribution Property | Piedmont, SC | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,030 | |||
Buildings and Improvements, Initial Cost | 24,067 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 27,097 | |||
Accumulated Depreciation | 9,344 | |||
Distribution Property | Zumbrota, MN | AmeriCold I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,440 | |||
Buildings and Improvements, Initial Cost | 18,152 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 20,592 | |||
Accumulated Depreciation | 7,048 | |||
Distribution Property | Birmingham, AL | Home Depot I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,660 | |||
Buildings and Improvements, Initial Cost | 33,667 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 37,327 | |||
Accumulated Depreciation | 10,735 | |||
Distribution Property | Valdosta, GA | Home Depot I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,930 | |||
Buildings and Improvements, Initial Cost | 30,538 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 33,468 | |||
Accumulated Depreciation | 9,737 | |||
Distribution Property | Hanahan, SC | New Breed Logistics I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,940 | |||
Buildings and Improvements, Initial Cost | 19,171 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 22,111 | |||
Accumulated Depreciation | 7,443 | |||
Distribution Property | Chatanooga, TN | American Tire Distributors I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 401 | |||
Buildings and Improvements, Initial Cost | 7,626 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 8,027 | |||
Accumulated Depreciation | 2,961 | |||
Distribution Property | Watertown, SD | FedEx Ground I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 136 | |||
Buildings and Improvements, Initial Cost | 2,581 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,717 | |||
Accumulated Depreciation | 1,002 | |||
Distribution Property | Leland, MS | FedEx Ground II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 220 | |||
Buildings and Improvements, Initial Cost | 4,186 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,406 | |||
Accumulated Depreciation | 1,612 | |||
Distribution Property | Bismarck, ND | FedEx Ground III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 554 | |||
Buildings and Improvements, Initial Cost | 3,139 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,693 | |||
Accumulated Depreciation | 1,199 | |||
Distribution Property | Council Bluffs, IA | FedEx Ground IV | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 768 | |||
Buildings and Improvements, Initial Cost | 3,908 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,676 | |||
Accumulated Depreciation | 867 | |||
Distribution Property | Hatfield (South), MA | C&S Wholesale Grocer I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,420 | |||
Buildings and Improvements, Initial Cost | 14,169 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 15,589 | |||
Accumulated Depreciation | 2,524 | |||
Distribution Property | Sioux City, IA | FedEx Ground V | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 199 | |||
Buildings and Improvements, Initial Cost | 5,638 | |||
Land, Costs Capitalized Subsequent to Acquisition | 55 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 5,892 | |||
Accumulated Depreciation | 794 | |||
Distribution Property | Eagle River, WI | FedEx Ground VII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 40 | |||
Buildings and Improvements, Initial Cost | 6,022 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 6,062 | |||
Accumulated Depreciation | 910 | |||
Distribution Property | Grand Forks, ND | FedEx Ground VI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 1,288 | |||
Buildings and Improvements, Initial Cost | 8,988 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 146 | |||
Gross Amount | 10,422 | |||
Accumulated Depreciation | 1,438 | |||
Distribution Property | Mosinee, WI | FedEx Ground VIII | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 203 | |||
Buildings and Improvements, Initial Cost | 9,017 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 9,220 | |||
Accumulated Depreciation | 1,449 | |||
Distribution Property | Brainerd, MN | FedEx Ground IX | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 587 | |||
Buildings and Improvements, Initial Cost | 3,415 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 4,002 | |||
Accumulated Depreciation | 449 | |||
Distribution Property | Columbia, SC | Bridgestone HOSEpower I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 307 | |||
Buildings and Improvements, Initial Cost | 1,973 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,280 | |||
Accumulated Depreciation | 215 | |||
Distribution Property | Elko, NV | Bridgestone HOSEpower I | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 358 | |||
Buildings and Improvements, Initial Cost | 1,642 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 2,000 | |||
Accumulated Depreciation | 193 | |||
Distribution Property | Jacksonville, FL III | Bridgestone HOSEpower II | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 236 | |||
Buildings and Improvements, Initial Cost | 1,762 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 1,998 | |||
Accumulated Depreciation | 183 | |||
Distribution Property | Rolla, MO | FedEx Ground X | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 469 | |||
Buildings and Improvements, Initial Cost | 9,653 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 10,122 | |||
Accumulated Depreciation | 1,207 | |||
Distribution Property | Casper, WY | FedEx Ground XI | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 386 | |||
Buildings and Improvements, Initial Cost | 3,469 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,855 | |||
Accumulated Depreciation | 350 | |||
Distribution Property | Sulphur, LA | Bridgestone HOSEpower III | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 882 | |||
Buildings and Improvements, Initial Cost | 2,176 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 3,058 | |||
Accumulated Depreciation | 196 | |||
Multi Tenant Property | Anderson, SC | Anderson Station | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 5,201 | |||
Buildings and Improvements, Initial Cost | 27,100 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 832 | |||
Gross Amount | 33,133 | |||
Accumulated Depreciation | 3,381 | |||
Multi Tenant Property | Asheville, NC | Riverbend Marketplace | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 4,949 | |||
Buildings and Improvements, Initial Cost | 18,213 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 23,162 | |||
Accumulated Depreciation | 2,047 | |||
Multi Tenant Property | Charlotte, NC II | Northlake Commons | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 17,539 | |||
Buildings and Improvements, Initial Cost | 16,342 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 66 | |||
Gross Amount | 33,947 | |||
Accumulated Depreciation | 2,067 | |||
Multi Tenant Property | Charlotte, NC III | Shops at Rivergate South | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 5,202 | |||
Buildings and Improvements, Initial Cost | 28,378 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 162 | |||
Gross Amount | 33,742 | |||
Accumulated Depreciation | 3,156 | |||
Multi Tenant Property | Fayetteville, NC I | Cross Pointe Centre | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 8,075 | |||
Buildings and Improvements, Initial Cost | 19,717 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 534 | |||
Gross Amount | 28,326 | |||
Accumulated Depreciation | 2,249 | |||
Multi Tenant Property | Frankfort, KY | Parkside Shopping Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 9,978 | |||
Buildings and Improvements, Initial Cost | 29,996 | |||
Land, Costs Capitalized Subsequent to Acquisition | 695 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1,155 | |||
Gross Amount | 41,824 | |||
Accumulated Depreciation | 3,823 | |||
Multi Tenant Property | Hoover, AL | Patton Creek | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 34,000 | |||
Land, Initial Cost | 15,799 | |||
Buildings and Improvements, Initial Cost | 79,150 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 309 | |||
Gross Amount | 95,258 | |||
Accumulated Depreciation | 8,597 | |||
Multi Tenant Property | Houston, TX | Southway Shopping Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 10,260 | |||
Buildings and Improvements, Initial Cost | 24,440 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 26 | |||
Gross Amount | 34,726 | |||
Accumulated Depreciation | 2,627 | |||
Multi Tenant Property | Huber Heights, OH | Northpark Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 8,975 | |||
Buildings and Improvements, Initial Cost | 28,552 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1,302 | |||
Gross Amount | 38,829 | |||
Accumulated Depreciation | 3,362 | |||
Multi Tenant Property | Kansas City, MO | Tiffany Springs MarketCenter | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 10,154 | |||
Buildings and Improvements, Initial Cost | 50,832 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 3,396 | |||
Gross Amount | 64,382 | |||
Accumulated Depreciation | 6,614 | |||
Multi Tenant Property | Lakeland, FL | North Lakeland Plaza | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,599 | |||
Buildings and Improvements, Initial Cost | 12,652 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 172 | |||
Gross Amount | 15,423 | |||
Accumulated Depreciation | 1,450 | |||
Multi Tenant Property | Las Vegas, NV | Best on the Boulevard | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 10,046 | |||
Buildings and Improvements, Initial Cost | 32,706 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 255 | |||
Gross Amount | 43,007 | |||
Accumulated Depreciation | 3,669 | |||
Multi Tenant Property | Las Vegas, NV I | Montecito Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 16,204 | |||
Buildings and Improvements, Initial Cost | 36,477 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount | 52,693 | |||
Accumulated Depreciation | 4,196 | |||
Multi Tenant Property | Lawrence, KS | Pine Ridge Plaza | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 14,008 | |||
Buildings and Improvements, Initial Cost | 20,935 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 576 | |||
Gross Amount | 35,519 | |||
Accumulated Depreciation | 2,614 | |||
Multi Tenant Property | Louisville, KY | Jefferson Commons | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 5,110 | |||
Buildings and Improvements, Initial Cost | 29,432 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 2,643 | |||
Gross Amount | 37,185 | |||
Accumulated Depreciation | 3,618 | |||
Multi Tenant Property | Mesquite, TX | Towne Centre Plaza | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,553 | |||
Buildings and Improvements, Initial Cost | 11,992 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 835 | |||
Gross Amount | 16,380 | |||
Accumulated Depreciation | 1,483 | |||
Multi Tenant Property | Monaca, PA | Township Marketplace | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 8,146 | |||
Buildings and Improvements, Initial Cost | 39,267 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 285 | |||
Gross Amount | 47,698 | |||
Accumulated Depreciation | 4,211 | |||
Multi Tenant Property | North Charleston, SC | Northwoods Marketplace | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 13,474 | |||
Buildings and Improvements, Initial Cost | 28,362 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 431 | |||
Gross Amount | 42,267 | |||
Accumulated Depreciation | 3,182 | |||
Multi Tenant Property | Oklahoma City, OK II | Centennial Plaza | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,488 | |||
Buildings and Improvements, Initial Cost | 30,054 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 64 | |||
Gross Amount | 33,606 | |||
Accumulated Depreciation | 3,221 | |||
Multi Tenant Property | Oklahoma City, OK III | Village at Quail Springs | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 2,307 | |||
Buildings and Improvements, Initial Cost | 9,983 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 2,210 | |||
Gross Amount | 14,500 | |||
Accumulated Depreciation | 1,581 | |||
Multi Tenant Property | Orlando, FL IV | Colonial Landing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 0 | |||
Buildings and Improvements, Initial Cost | 44,255 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 2,682 | |||
Gross Amount | 46,937 | |||
Accumulated Depreciation | 4,813 | |||
Multi Tenant Property | Pineville, NC | The Centrum | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 12,013 | |||
Buildings and Improvements, Initial Cost | 26,242 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1,441 | |||
Gross Amount | 39,696 | |||
Accumulated Depreciation | 3,221 | |||
Multi Tenant Property | Rowlett, TX | Liberty Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 6,285 | |||
Buildings and Improvements, Initial Cost | 20,700 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 51 | |||
Gross Amount | 27,036 | |||
Accumulated Depreciation | 2,383 | |||
Multi Tenant Property | San Antonio, TX I | San Pedro Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 10,118 | |||
Buildings and Improvements, Initial Cost | 38,655 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 5,563 | |||
Gross Amount | 54,336 | |||
Accumulated Depreciation | 4,446 | |||
Multi Tenant Property | Schaumburg, IL | Prairie Towne Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 11,070 | |||
Buildings and Improvements, Initial Cost | 19,528 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 6,191 | |||
Gross Amount | 36,789 | |||
Accumulated Depreciation | 5,609 | |||
Multi Tenant Property | Sebring, FL | Shops at Shelby Crossing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 21,677 | |||
Land, Initial Cost | 4,478 | |||
Buildings and Improvements, Initial Cost | 32,316 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 324 | |||
Gross Amount | 37,118 | |||
Accumulated Depreciation | 4,239 | |||
Multi Tenant Property | Slidell, LA | Stirling Slidell Centre | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 3,495 | |||
Buildings and Improvements, Initial Cost | 18,113 | |||
Land, Costs Capitalized Subsequent to Acquisition | (2,028) | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | (11,262) | |||
Gross Amount | 8,318 | |||
Accumulated Depreciation | 112 | |||
Multi Tenant Property | St. Louis Park, MN | The Shops at West End | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 12,831 | |||
Buildings and Improvements, Initial Cost | 107,807 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 904 | |||
Gross Amount | 121,542 | |||
Accumulated Depreciation | 10,968 | |||
Multi Tenant Property | Traverse City, MI | Bison Hollow | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 4,346 | |||
Buildings and Improvements, Initial Cost | 15,944 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount | 20,290 | |||
Accumulated Depreciation | 1,723 | |||
Multi Tenant Property | Tulsa, OK | Southroads Shopping Center | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Land, Initial Cost | 6,663 | |||
Buildings and Improvements, Initial Cost | 60,721 | |||
Land, Costs Capitalized Subsequent to Acquisition | 30 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 1,477 | |||
Gross Amount | 68,891 | |||
Accumulated Depreciation | 7,485 | |||
Multi Tenant Property | West Chester, OH | The Streets Of West Chester | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 11,313 | |||
Buildings and Improvements, Initial Cost | 34,305 | |||
Land, Costs Capitalized Subsequent to Acquisition | 517 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 363 | |||
Gross Amount | 46,498 | |||
Accumulated Depreciation | 3,930 | |||
Multi Tenant Property | West Melbourne, FL | Shoppes of West Melbourne | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 4,258 | |||
Buildings and Improvements, Initial Cost | 19,138 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 865 | |||
Gross Amount | 24,261 | |||
Accumulated Depreciation | 2,257 | |||
Multi Tenant Property | Wyomissing, PA | Shoppes at Wyomissing | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Land, Initial Cost | 4,108 | |||
Buildings and Improvements, Initial Cost | 32,446 | |||
Land, Costs Capitalized Subsequent to Acquisition | 0 | |||
Building and Improvement Costs Capitalized Subsequent to Acquisition | 83 | |||
Gross Amount | 36,637 | |||
Accumulated Depreciation | 3,589 | |||
Revolving Credit Facility | New Credit Facility | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Credit facility | $ 280,900 | |||
Buildings | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Estimated useful life | 40 years | |||
Land Improvements | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Estimated useful life | 15 years | |||
Fixtures and Improvements | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Estimated useful life | 5 years |
Schedule III - Real Estate an_3
Schedule III - Real Estate and Accumulated Depreciation (Changes in Real Estate Properties and Accumulated Depreciation) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Real estate investments, at cost: | |||
Balance at beginning of year | $ 3,367,374 | $ 3,070,852 | $ 3,056,695 |
Additions - acquisitions | 194,565 | 365,159 | 201,896 |
Additions - improvements | 10,754 | 14,006 | 13,189 |
Disposals | (7,059) | (80,631) | (146,109) |
Assets received through substitution | 3,887 | 0 | 0 |
Assets provided through substitution | (2,787) | 0 | 0 |
Impairment charges | (12,910) | (699) | (9,363) |
Reclassified to assets held for sale | 0 | (1,313) | (45,456) |
Balance at end of the year | 3,553,824 | 3,367,374 | 3,070,852 |
Accumulated depreciation: | |||
Balance at beginning of year | 369,450 | 311,214 | 256,771 |
Depreciation expense | 88,778 | 78,395 | 84,482 |
Disposals | (3,089) | (20,022) | (25,131) |
Assets provided through substitution | (912) | 0 | 0 |
Reclassified to assets held for sale | 0 | (137) | (4,908) |
Balance at end of the year | $ 454,227 | $ 369,450 | $ 311,214 |