Cole Credit Property Trust V 10-K 27 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 23, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	COLE CREDIT PROPERTY TRUST V, INC.
Entity Central Index Key	1,580,988
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 279.2
Common Class A
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		13,000
Common Class T
Document Information [Line Items]
Entity common stock, shares outstanding (shares)		526

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investment in real estate assets:
Land	$ 114,241	$ 106,800
Buildings and improvements	336,315	317,604
Intangible lease assets	53,463	51,701
Total real estate investments, at cost	504,019	476,105
Less: accumulated depreciation and amortization	(29,929)	(15,737)
Total real estate investments, net	474,090	460,368
Cash and cash equivalents	19,161	10,110
Restricted cash	94	354
Property escrow deposits, derivative assets, prepaid expenses and other assets	694	339
Rents and tenant receivables, net	4,875	2,985
Deferred costs, net	296	997
Total assets	499,210	475,153
LIABILITIES AND STOCKHOLDERS’ EQUITY
Credit facility and notes payable, net	253,918	268,463
Line of credit with affiliate	0	20,000
Accounts payable and accrued expenses	2,105	1,587
Escrowed investor proceeds	0	4
Due to affiliates	1,342	1,076
Intangible lease liabilities, net	3,708	4,249
Distributions payable	1,663	1,218
Deferred rental income, derivative liabilities and other liabilities	1,872	2,996
Total liabilities	264,608	299,593
Commitments and contingencies
Redeemable common stock	11,250	7,277
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding	0	0
Capital in excess of par value	272,603	199,677
Accumulated distributions in excess of earnings	(48,981)	(30,354)
Accumulated other comprehensive loss	(396)	(1,133)
Total stockholders’ equity	223,352	168,283
Total liabilities, redeemable common stock and stockholders’ equity	499,210	475,153
Class A common stock, $0.01 par value per share; 245,000,000 shares authorized, 12,327,579 and 9,292,168 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively
STOCKHOLDERS’ EQUITY
Common stock	123	93
Class T common stock, $0.01 par value per share; 245,000,000 shares authorized, 321,223 and 0 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively
STOCKHOLDERS’ EQUITY
Common stock	$ 3	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	10,000,000	10,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (USD per share)	$ 0.01
Common stock, shares authorized (shares)	490,000,000
Common Class A
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	245,000,000	245,000,000
Common stock, shares issued (shares)	12,327,579	9,292,168
Common stock outstanding (shares)	12,327,579	9,292,168
Common Class T
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	245,000,000	245,000,000
Common stock, shares issued (shares)	321,223	0
Common stock outstanding (shares)	321,223	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Rental income	$ 35,435	$ 32,065	$ 5,824
Tenant reimbursement income	5,003	3,551	256
Total revenues	40,438	35,616	6,080
Operating expenses:
General and administrative	4,233	3,557	1,173
Property operating	1,828	1,701	125
Real estate tax	3,716	2,516	267
Advisory fees and expenses	4,841	3,973	751
Acquisition-related fees and expenses	1,286	3,008	11,955
Depreciation and amortization	13,441	12,540	2,298
Total operating expenses	29,345	27,295	16,569
Operating income (loss)	11,093	8,321	(10,489)
Other income (expense):
Interest expense and other, net	(12,278)	(10,396)	(1,628)
Net loss	(1,185)	(2,075)	(12,117)
Common Class A
Other income (expense):
Net loss	$ (1,161)	$ (2,075)	$ (12,117)
Basic and diluted weighted average number of common shares outstanding
Basic and diluted weighted average number of common shares outstanding (shares)	11,009,047	7,958,164	2,298,800
Basic and diluted net loss per common share (dollars per share)	$ (0.11)	$ (0.26)	$ (5.27)
Distributions declared per common share	$ 1.575	$ 1.575	$ 1.247
Common Class T
Other income (expense):
Net loss	$ (24)	$ 0	$ 0
Basic and diluted weighted average number of common shares outstanding
Basic and diluted weighted average number of common shares outstanding (shares)	72,998	0	0
Basic and diluted net loss per common share (dollars per share)	$ (0.32)	$ 0	$ 0
Distributions declared per common share	$ 1.011	$ 0	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,185,000)	$ (2,075,000)	$ (12,117,000)
Other comprehensive income (loss):
Unrealized loss on interest rate swaps	(771,000)	(1,137,000)	0
Amount of loss reclassified from other comprehensive income (loss) into income as interest expense	1,508,000	4,000	0
Total other comprehensive income (loss)	737,000	(1,133,000)	0
Total comprehensive loss	$ (448,000)	$ (3,208,000)	$ (12,117,000)

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings	Accumulated Other Comprehensive Loss	Common Class A	Common Class ACommon Stock	Common Class T	Common Class TCommon Stock
Balance (shares) at Dec. 31, 2013						8,000		0
Balance at Dec. 31, 2013	$ 200	$ 200	$ 0	$ 0		$ 0		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)						6,977,877
Issuance of common stock	173,743	173,673				$ 70
Distributions to investors	(3,625)		(3,625)
Commissions on stock sales and related dealer manager fees	(14,934)	(14,934)
Other offering costs	$ (3,475)	(3,475)
Redemptions of common stock (shares)	0
Changes in redeemable common stock	$ (1,471)	(1,471)
Net loss	(12,117)		(12,117)		$ (12,117)		$ 0
Comprehensive loss	(12,117)
Balance (shares) at Dec. 31, 2014						6,985,877		0
Balance at Dec. 31, 2014	138,321	153,993	(15,742)	0		$ 70		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)						2,343,023
Issuance of common stock	57,870	57,847				$ 23
Distributions to investors	(12,537)		(12,537)
Commissions on stock sales and related dealer manager fees	(4,285)	(4,285)
Other offering costs	$ (1,177)	(1,177)
Redemptions of common stock (shares)	(37,000)					(36,732)
Redemptions of common stock	$ (895)	(895)
Changes in redeemable common stock	(5,806)	(5,806)
Net loss	(2,075)				$ (2,075)		$ 0
Comprehensive loss	(3,208)		(2,075)	(1,133)
Balance (shares) at Dec. 31, 2015					9,292,168	9,292,168	0	0
Balance at Dec. 31, 2015	168,283	199,677	(30,354)	(1,133)		$ 93		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)						3,229,602		321,223
Issuance of common stock	90,027	89,992				$ 32		$ 3
Distributions to investors	(17,442)		(17,442)
Commissions on stock sales and related dealer manager fees	(6,333)	(6,333)
Other offering costs	(1,816)	(1,816)
Distribution and stockholder servicing fees	$ (322)	(322)
Redemptions of common stock (shares)	(194,000)					(194,191)
Redemptions of common stock	$ (4,624)	(4,622)			$ (2)
Changes in redeemable common stock	(3,973)	(3,973)
Net loss	(1,185)				$ (1,161)		$ (24)
Comprehensive loss	(448)		(1,185)	737
Balance (shares) at Dec. 31, 2016					12,327,579	12,327,579	321,223	321,223
Balance at Dec. 31, 2016	$ 223,352	$ 272,603	$ (48,981)	$ (396)		$ 123		$ 3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (1,185)	$ (2,075)	$ (12,117)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization, net	13,699	12,816	2,339
Straight-line rental income	(1,057)	(1,224)	(309)
Bad debt expense	1	0	0
Amortization of deferred financing costs	1,228	813	258
Amortization of fair value adjustments of notes payable assumed	(403)	(384)	(99)
Changes in assets and liabilities:
Rents and tenant receivables	(834)	(779)	(673)
Prepaid expenses and other assets	77	(59)	(230)
Accounts payable and accrued expenses	518	(697)	2,284
Deferred rental income and other liabilities	(625)	877	986
Due from affiliates	0	110	(110)
Due to affiliates	(20)	451	605
Net cash provided by (used in) operating activities	11,399	9,849	(7,066)
Cash flows from investing activities:
Investment in real estate assets and capital expenditures	(27,962)	(87,700)	(339,830)
Escrowed funds for acquisition of real estate investments	0	0	(5,905)
Release of escrowed funds for acquisition of real estate investments	0	0	5,905
Payment of property escrow deposits	(515)	(50)	0
Refund of property escrow deposits	281	0	0
Change in restricted cash	260	(354)	0
Net cash used in investing activities	(27,936)	(88,104)	(339,830)
Cash flows from financing activities:
Proceeds from issuance of common stock	81,430	51,169	172,272
Redemptions of common stock	(4,624)	(895)	0
Offering costs on issuance of common stock	(8,185)	(5,518)	(18,333)
Proceeds from credit facility and notes payable	98,600	67,500	186,153
Repayment of credit facility and notes payable	(112,500)	(24,500)	(2,653)
Proceeds from line of credit with affiliate	0	0	30,700
Repayment of line of credit with affiliate	(20,000)	0	(10,700)
Payment of loan deposits	(35)	0	0
Refund of loan deposits	75	0	0
Distributions to investors	(8,400)	(5,547)	(1,225)
Change in escrowed investor proceeds	(4)	4	0
Deferred financing costs paid	(769)	(755)	(2,611)
Net cash provided by financing activities	25,588	81,458	353,603
Net increase in cash and cash equivalents	9,051	3,203	6,707
Cash and cash equivalents, beginning of period	10,110	6,907	200
Cash and cash equivalents, end of period	$ 19,161	$ 10,110	$ 6,907

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	ORGANIZATION AND BUSINESS Cole Credit Property Trust V, Inc. (the “Company”) is a Maryland corporation incorporated on December 12, 2012, that elected to be taxed, and currently qualifies, as a real estate investment trust (“REIT”) for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2014. The Company is the sole general partner of and owns, directly or indirectly, 100% of the partnership interests in Cole Operating Partnership V, LP, a Delaware limited partnership. The Company is externally managed by Cole REIT Advisors V, LLC (“CR V Advisors”), a Delaware limited liability company and an affiliate of the Company’s sponsor, Cole Capital ® , which is a trade name used to refer to a group of affiliated entities directly or indirectly controlled by VEREIT, Inc. (“VEREIT”), a widely-held public company whose shares of common stock are listed on the New York Stock Exchange (NYSE: VER). VEREIT indirectly owns and/or controls the Company’s external advisor, CR V Advisors, the Company’s dealer manager, Cole Capital Corporation (“CCC”), the Company’s property manager, CREI Advisors, LLC (“CREI Advisors”), and the Company’s sponsor, Cole Capital. Pursuant to a Registration Statement on Form S-11 (Registration No. 333-189891) (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”), and declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 17, 2014, the Company commenced its initial public offering on a “best efforts” basis of up to a maximum of $2.975 billion in shares of a single class of common stock. On February 7, 2014, the Company effected a reverse stock split, whereby every two and one-half shares of the Company’s common stock issued and outstanding were combined into one share of the Company’s common stock, resulting in a price change per share (the “Reverse Stock Split”). As a result of the Reverse Stock Split, the initial public offering (the “Offering”) initially offered up to a maximum of $2.5 billion in shares of a single class of common stock (now referred to as Class A Shares as defined below) in the primary offering at a price of $25.00 per share until April 8, 2016, as well as up to $475.0 million in additional shares pursuant to a distribution reinvestment plan (the “Original DRIP”) at a price of $23.75 per share until April 8, 2016. On March 18, 2014, the Company satisfied the conditions of the escrow agreement regarding the minimum offering amount under the Offering and issued approximately 110,000 shares of its common stock to VEREIT Operating Partnership, L.P. (“VEREIT OP”), an affiliate of Cole Capital and the operating partnership of VEREIT, resulting in gross proceeds of $2.5 million , and commenced principal operations. Effective as of March 4, 2016, the Company changed the designation of its common stock to Class A common stock (the “Class A Shares”) and then reclassified a portion of its Class A Shares as Class T common stock (the “Class T Shares”) pursuant to filings of Articles of Amendment (“Articles of Amendment”) and Articles Supplementary (“Articles Supplementary”) to the Company’s Articles of Amendment and Restatement. All shares of common stock issued and outstanding prior to the filing on March 4, 2016 of the Articles of Amendment and the Articles Supplementary were designated as Class A Shares following the filing of the Articles of Amendment and the Articles Supplementary. The Class A Shares and Class T Shares have similar voting rights, although the amount of the distributions are expected to differ due to the distribution and stockholder servicing fees, as defined in the Company’s charter, as amended, that are payable in connection with the Class T Shares. In addition, the Company’s charter provides that, in the event of a liquidation of the Company’s assets, distributions will be allocated between the share classes pursuant to the portion of the aggregate assets available for distribution to each class. Each holder of shares of a particular class of common stock will be entitled to receive, ratably with each other holder of shares of the same class, that portion of such aggregate cash available for distribution as the number of outstanding shares of such class held by such holder as compared to the total number of outstanding shares of such class then outstanding. On March 29, 2016, the Company’s board of directors (the “Board”) adopted an Amended and Restated Distribution Reinvestment Plan (the “Amended and Restated DRIP” and collectively with the Original DRIP, the “DRIP”), to allow for the reinvestment of distributions paid on Class A Shares and Class T Shares. Pursuant to the Amended and Restated DRIP, distributions on Class A Shares are reinvested in Class A Shares and distributions on Class T Shares are reinvested in Class T Shares. The Amended and Restated DRIP became effective as of May 1, 2016. On April 11, 2016, the Company announced that the Board established an estimated per share net asset value (“NAV”) of the Company’s common stock, as of February 29, 2016, of $24.00 per share for purposes of assisting broker-dealers participating in the Offering in meeting their customer account statement reporting obligations under National Association of Securities Dealers Conduct Rule 2340. As a result, effective April 11, 2016, the Company revised the offering price of shares in the primary portion of the Offering to be $26.37 per share (representing the $24.00 estimated per share NAV plus applicable selling commissions and dealer manager fees) and revised the offering price of shares pursuant to the Original DRIP to be $24.00 per share (the estimated per share NAV). The Company’s estimated per share NAV as of February 29, 2016 was not audited or reviewed by its independent registered public accounting firm. In connection with Post-Effective Amendment No. 3 to the Company’s Registration Statement, which was declared effective by the SEC on April 29, 2016, the Company began offering up to $1,125,000,000 , of the $2.5 billion in shares that make up the primary portion of the Offering, in Class T Shares at a price of $25.26 per share in the primary portion of the Offering (representing the $24.00 estimated per share NAV plus selling commissions and dealer manager fees applicable to the Class T Shares), along with up to $1,375,000,000 in Class A Shares at a price of $26.37 per share in the primary portion of the Offering. The Company also began offering Class T Shares pursuant to the DRIP at a price of $24.00 per share, along with Class A Shares pursuant to the DRIP at a price of $24.00 per share. The Company reserves the right to reallocate the shares being offered in the Offering among the classes of shares and between the primary offering and the DRIP. As of December 31, 2016 , the Company had issued approximately 12.9 million shares of common stock in the Offering for gross offering proceeds of $321.6 million ( $313.5 million in Class A Shares and $8.1 million in Class T Shares) before organization and offering costs, selling commissions and dealer manager fees of $32.0 million . In addition, the Company paid distribution and stockholder servicing fees for Class T Shares sold in the primary portion of the Offering of $16,000 and accrued an estimated liability for future distribution and stockholder servicing fees payable of $306,000 . On March 24, 2017, the Board established an updated estimated per share NAV of the Company’s common stock, as of December 31, 2016, of $24.00 per share for both Class A Shares and Class T Shares. Because the estimated per share NAV as of December 31, 2016 is the same as the estimated per share NAV as of February 29, 2016, the Company will continue to offer Class A Shares in the primary portion of the Offering for $ 26.37 per share, Class T Shares in the primary portion of the Offering for $ 25.26 per share and Class A Shares and Class T Shares in the DRIP for $24.00 per share. Additionally, $24.00 per share will continue to serve as the most recent estimated per share NAV for purposes of the share redemption program. The Company intends to use substantially all of the net proceeds from the Offering to acquire and operate a diversified portfolio of commercial real estate investments primarily consisting of necessity retail properties located throughout the United States, including U.S. protectorates. The retail properties primarily will be single tenant properties and anchored shopping centers anchored by large, creditworthy national, regional or local retailers. The Company expects that the retail properties typically will be subject to long-term triple-net or double-net leases, which means the tenant will be obligated to pay for most of the expenses of maintaining the property. As of December 31, 2016 , the Company owned 116 properties, comprising 2.5 million rentable square feet of commercial space located in 31 states. As of December 31, 2016 , the rentable space at these properties was 98.8% leased, including month-to-month agreements, if any. Pursuant to a Registration Statement on Form S-11 (Registration No. 333-215274), the Company intends to commence a follow-on offering of an aggregate of $1.2 billion in shares of Class A common stock and Class T common stock in the primary offering and an additional $300.0 million in shares of common stock pursuant to the DRIP. The Registration Statement on Form S-11 for the proposed follow-on offering was filed with the SEC on December 22, 2016 and has not yet been declared effective by the SEC. No assurance can be given regarding when, or if, the Registration Statement on Form S-11 will be declared effective by the SEC.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”), in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Real Estate Investments Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition-related fees and expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All acquisition-related fees and expenses, repairs and maintenance are expensed as incurred. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value will be determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment indicators were identified and no impairment losses were recorded during the years ended December 31, 2016 , 2015 or 2014 . Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and estimate the fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs. There were no assets identified as held for sale as of December 31, 2016 or 2015 . Allocation of Purchase Price of Real Estate Assets Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition-related fees and expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above-market and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above-market or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include leasing commissions, legal and other related expenses and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. Contingent consideration arrangements, including amounts funded through an escrow account, will be recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value, subsequent to acquisition, will be reflected in the accompanying consolidated statements of operations in acquisition-related fees and expenses. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance is amortized or accreted to interest expense over the term of the respective mortgage note payable. The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could materially impact the Company’s results of operations. Restricted Cash and Escrows The Company had $94,000 and $354,000 in restricted cash as of December 31, 2016 and 2015 , respectively. Included in restricted cash were $94,000 and $350,000 held by lenders in lockbox accounts as of December 31, 2016 and 2015 , respectively, as well as escrowed investor proceeds of $4,000 for which shares of common stock had not been issued as of December 31, 2015 . As part of certain debt agreements, rent from certain of the Company’s tenants is deposited directly into a lockbox account, from which the monthly debt service payments are disbursed to the lender and the excess funds are disbursed to the Company. Cash Concentrations Cash and cash equivalents include cash in bank accounts. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000. At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held. Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for 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 written off when the associated debt is refinanced or repaid before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2016 and 2015 , the Company had $296,000 and $997,000 , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined the financing will not close. Distribution and Stockholder Servicing Fees The Company pays CCC a distribution and stockholder servicing fee for Class T Shares sold in the primary portion of the Offering. Through October 4, 2016, the daily amount of the distribution and stockholder servicing fee payable was calculated to equal 1/365th of 0.8% of the estimated per share NAV of the Class T Shares sold in the primary portion of the Offering. On October 5, 2016, the Company entered into Amendment No. 1 to its Amended and Restated Dealer Manager Agreement (the “Amended Dealer Manager Agreement”). Pursuant to the Amended Dealer Manager Agreement, the calculation of the daily amount of distribution and stockholder servicing fee was changed to equal 1/365th of 1.0% of the estimated per share NAV of the Class T Shares sold in the primary portion of the Offering. The aggregate distribution and stockholder servicing fee for Class T Shares, which was unchanged by Amendment No. 1 to the Amended and Restated Dealer Manager Agreement, will not exceed an amount equal to 4.0% of the total gross offering proceeds of Class T Shares sold in the primary portion of the Offering. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares sold in the Offering at the earliest of: (i) the end of the month in which the transfer agent, on the Company’s behalf, determines that total distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 4.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T Shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross proceeds from the aggregate sale of Class A Shares and Class T Shares in the primary offering (i.e., excluding proceeds from sales pursuant to the DRIP); (iii) the fourth anniversary of the last day of the month in which the Company’s public offering (excluding the DRIP) terminates; (iv) the date such Class T Share is no longer outstanding; and (v) the date the Company effects a liquidity event (such as the sale of the Company, the sale of all or substantially all of the Company’s assets, a merger or similar transaction, the listing of the Company’s shares of common stock for trading on a national securities exchange or an alternative strategy that would result in a significant increase in the opportunities for stockholders to dispose of their shares). CCC may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee. The distribution and stockholder servicing fee is paid monthly in arrears. An estimated liability for future distribution and stockholder servicing fees payable to CCC is recognized at the time each Class T Share is sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value. Due to Affiliates CR V Advisors, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management, financing and leasing of the properties of the Company. Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded as other comprehensive income (loss). The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations. Redeemable Common Stock Under the Company’s share redemption program, the Company’s obligation to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the share redemption program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value. Revenue Recognition Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis when earned and collectability is reasonably assured. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred. The Company continually reviews receivables related to rent, including any unbilled straight-line rent 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. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the allowance for uncollectible accounts. As of December 31, 2016 , the Company had an allowance for uncollectible accounts of $1,000 . As of December 31, 2015 , the Company did not have an allowance for uncollectible accounts. Income Taxes The Company elected to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with its taxable year ended December 31, 2014. The Company will generally not be subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. Earnings (Loss) Per Share The Company has two classes of common stock. Accordingly, the Company utilizes the two-class method to determine its earnings per share, which results in different earnings per share for each of the classes. Under the two-class method, earnings per share of each class of common stock are computed by dividing the sum of the distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares for each class of common stock for the respective period. The distributed earnings to Class T Share common stockholders represents distributions declared less the distribution and stockholder servicing fees. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for the years ended December 31, 2016 , 2015 or 2014 . Offering and Related Costs CR V Advisors funds all of the organization and offering costs on the Company’s behalf (excluding selling commissions and dealer manager fees) and may be reimbursed for such costs up to 2.0% of aggregate gross proceeds from the Offering. As of December 31, 2016 , CR V Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 2.0% of aggregate gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable. When recorded by the Company, organization costs are expensed as incurred, and offering costs, which include items such as legal and accounting fees, marketing, personnel, promotional and printing costs, are recorded as a reduction of capital in excess of par value along with selling commissions, dealer manager fees and distribution and stockholder servicing fees in the period in which they become payable. Reportable Segment The Company’s commercial real estate investments consist of income-producing necessity retail properties that are primarily single-tenant or anchored shopping centers, which are leased to creditworthy tenants under long-term net leases. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by various standard setting bodies that may have an impact on the Company’s accounting and reporting. Except as otherwise stated below, the Company is currently evaluating the effect that certain of these new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements: Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, as amended (“ASU 2014-09”) — The requirements were amended to remove inconsistencies in revenue requirements and to provide a more complete framework for addressing revenue issues across a broad range of industries and transaction types. The revised standard’s core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised standard also clarifies that an entity should evaluate whether it is the principal or the agent for each specified good or service promised in a contract to a customer. These provisions are effective January 1, 2018, and are to be applied retrospectively, with early adoption permitted for periods beginning after December 15, 2016 and interim periods thereafter. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. The Company is currently assessing the adoption methodology. In accordance with the Company’s plan for the adoption of ASU 2014-09, the Company’s implementation team has identified the Company’s revenue streams and is performing an in-depth review of the Company’s revenue contracts to identify the related performance obligations and to evaluate the impact on the Company’s consolidated financial statements and internal accounting processes and controls. As the majority of the Company’s revenue is derived from real estate lease contracts, as discussed in relation to ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”), the Company does not expect that the adoption of ASU 2014-09 or related amendments and modifications issued by the Financial Accounting Standards Board (the “FASB”) will have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, which replaces the existing guidance in Accounting Standards Codification 840, Leases (Topic 842) . ASU 2016-02 requires a dual approach for lessee accounting under which a lessee would account for leases as either finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. For finance leases, the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. The provisions of ASU 2016-02 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. A modified retrospective approach is required for existing leases that have not expired upon adoption. Early adoption is permitted. The Company’s implementation team is developing an inventory of all leases, as well as identifying any non-lease components in the lease arrangements. ASU No. 2016-01, Financial Instruments (Subtopic 825-10) — The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income (loss), the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the consolidated balance sheets or the accompanying notes to the consolidated financial statements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. ASU No. 2016-05, Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (“ASU 2016-05”) — The amendments in this update clarify that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship, provided that all other hedge accounting criteria continue to be met. These provisions are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. The Company plans to adopt ASU 2016-05 prospectively and will consider for any future novations. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13”). ASU 2016-13 requires more timely recording of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology in current GAAP. ASU 2016-13 is effective for fiscal years, and interim periods within, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which is intended to address diversity in practice related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in ASU 2016-15 address eight specific cash flow issues as well as application of the predominance principle (dependence on predominant source or use of receipt or payment) and are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. ASU 2016-15 requires retrospective adoption unless it is impracticable to apply, in which case it is to be applied prospectively as of the earliest date practicable. The Company plans to adopt ASU 2016-15 during the fourth quarter of fiscal year 2017. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should now be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. The amendments in ASU 2016-18 are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within. Early adoption is permitted and is required to be applied prospectively to any transactions occurring within the period of adoption. The Company plans to adopt ASU 2017-01 during the first quarter of fiscal year 2017 and expects that most future acquisitions (or disposals) will qualify as asset acquisitions (or disposals). As such, future acquisition related expenses associated with these asset acquisitions will be capitalized.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS GAAP defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. GAAP emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows: Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 — Unobservable inputs, which are only used to the extent that observable inputs are not available, reflect the Company’s assumptions about the pricing of an asset or liability. The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Credit facility, notes payable and line of credit with affiliate — The fair value is estimated by discounting the expected cash flows based on estimated borrowing rates available to the Company as of the measurement date. Current and prior period liabilities’ carrying and fair values exclude net deferred financing costs. These financial instruments are valued using Level 2 inputs. As of December 31, 2016 , the estimated fair value of the Company’s debt was $256.4 million , compared to the carrying value of $255.4 million . The estimated fair value of the Company’s debt was $290.8 million as of December 31, 2015 , compared to the carrying value on that date of $289.3 million . Derivative instruments — The Company’s derivative instruments are comprised of interest rate swaps. All derivative instruments are carried at fair value and are valued using Level 2 inputs. The fair value of these instruments is determined using interest rate market pricing models. 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 respective counterparties. 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 those derivatives 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, 2016 and 2015 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and 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 derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Other financial instruments — The Company considers the carrying values of its cash and cash equivalents, restricted cash, tenant receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable to approximate their fair values because of the short period of time between their origination and their expected realization as well as their highly-liquid nature. Due to the short-term maturities of these instruments, Level 1 inputs are utilized to estimate the fair value of these financial instruments. Considerable judgment is necessary to develop estimated fair values of financial assets and liabilities. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize, or be liable for, upon disposition of the financial assets and liabilities. As of December 31, 2016 and 2015 , there have been no transfers of financial assets or liabilities between fair value hierarchy levels. In accordance with the fair value hierarchy described above, the following tables show the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of December 31, 2016 and 2015 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2016 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swap $ 238 $ — $ 238 $ — Financial liability: Interest rate swap $ (634 ) $ — $ (634 ) $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2015 (Level 1) (Level 2) (Level 3) Financial liability: Interest rate swap $ (1,133 ) $ — $ (1,133 ) $ —

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS 2016 Property Acquisitions During the year ended December 31, 2016 , the Company acquired four commercial properties for an aggregate purchase price of $27.6 million (the “ 2016 Acquisitions”). The Company purchased the 2016 Acquisitions with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired. The following table summarizes the purchase price allocation for the 2016 Acquisitions (in thousands): December 31, 2016 Land $ 7,441 Buildings and improvements 18,411 Acquired in-place leases (1) 1,762 Total purchase price $ 27,614 ______________________ (1) The weighted average amortization period for acquired in-place leases was 11.7 years for the 2016 Acquisitions. The Company recorded revenue for the year ended December 31, 2016 of $1.7 million and a net loss for the year ended December 31, 2016 of $333,000 related to the 2016 Acquisitions. In addition, the Company recorded $1.2 million of acquisition-related fees and expenses for the year ended December 31, 2016 related to the 2016 Acquisitions. The following table summarizes selected financial information of the Company as if all of the 2016 Acquisitions were completed on January 1, 2015 for each period below. The table below presents the Company’s estimated revenue and net loss, on a pro forma basis, for the years ended December 31, 2016 and 2015 (in thousands): Year Ended Year Ended December 31, 2016 December 31, 2015 Pro forma basis (unaudited): Revenue $ 40,741 $ 37,646 Net loss $ (606 ) $ (3,080 ) The unaudited pro forma information for the year ended December 31, 2016 was adjusted to exclude $1.2 million of acquisition-related fees and expenses recorded during the period related to the 2016 Acquisitions. Accordingly, these costs were instead recognized in the unaudited pro forma information for the year ended December 31, 2015 . The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of the period, nor does it purport to represent the results of future operations. 2015 Property Acquisitions During the year ended December 31, 2015 , the Company acquired 33 properties for an aggregate purchase price of $86.4 million (the “ 2015 Acquisitions”). The Company purchased the 2015 Acquisitions with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation for the 2015 Acquisitions (in thousands): December 31, 2015 Land $ 19,395 Buildings and improvements 58,658 Acquired in-place leases (1) 7,974 Acquired above-market leases (2) 1,360 Intangible lease liabilities (3) (961 ) Total purchase price $ 86,426 _________________________________ (1) The weighted average amortization period for acquired in-place leases was 12.8 years for the 2015 Acquisitions. (2) The weighted average amortization period for acquired above-market leases was 10.5 years for the 2015 Acquisitions. (3) The weighted average amortization period for intangible lease liabilities was 9.8 years for the 2015 Acquisitions. The Company recorded revenue for the year ended December 31, 2015 of $4.7 million and a net loss for the year ended December 31, 2015 of $1.1 million related to the 2015 Acquisitions. In addition, the Company recorded $3.0 million of acquisition-related fees and expenses for the year ended December 31, 2015 . The following information summarizes selected financial information of the Company as if all of the 2015 Acquisitions were completed on March 18, 2014, the date the Company commenced principal operations. The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the years ended December 31, 2015 and 2014 (in thousands): Year Ended Period from March 18, 2014 to December 31, 2015 December 31, 2014 Pro forma basis (unaudited): Revenue $ 37,719 $ 11,385 Net income (loss) $ 407 $ (10,385 ) The unaudited pro forma information for the year ended December 31, 2015 was adjusted to exclude $3.0 million of acquisition-related fees and expenses recorded during the year ended December 31, 2015 . Accordingly, these costs were instead recognized in the unaudited pro forma information for the year ended December 31, 2014 . The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of the period, nor does it purport to represent the results of future operations. 2014 Property Acquisitions During the year ended December 31, 2014 , the Company acquired 79 properties for an aggregate purchase price of $383.8 million (the “2014 Acquisitions”). The Company purchased the 2014 Acquisitions with net proceeds from the Offering and available borrowings. The Company allocated the purchase price of these properties to the fair value of the assets acquired and liabilities assumed. The following table summarizes the purchase price allocation for the 2014 Acquisitions (in thousands): December 31, 2014 Land $ 87,406 Buildings and improvements 258,912 Acquired in-place leases (1) 36,433 Acquired above-market leases (2) 5,929 Intangible lease liabilities (3) (3,870 ) Fair value adjustment of assumed notes payable (994 ) Total purchase price $ 383,816 ______________________ (1) The weighted average amortization period for acquired in-place leases was 13.8 years for the 2014 Acquisitions. (2) The weighted average amortization period for acquired above-market leases was 14.7 years for the 2014 Acquisitions. (3) The weighted average amortization period for intangible lease liabilities was 9.9 years for the 2014 Acquisitions. The Company recorded revenue for the year ended December 31, 2014 of $6.1 million and a net loss for the year ended December 31, 2014 of $12.1 million related to the 2014 Acquisitions. In addition, the Company recorded $12.0 million of acquisition-related fees and expenses for the year ended December 31, 2014 . The following information summarizes selected financial information of the Company as if all of the 2014 Acquisitions were completed on March 18, 2014, the date the Company commenced principal operations. The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the year ended December 31, 2014 (in thousands): Period from March 18, 2014 to December 31, 2014 Pro forma basis (unaudited): Revenue $ 34,477 Net income $ 9,141 The unaudited pro forma information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of the period, nor does it purport to represent the results of future operations. Escrowed Funds for Acquisition of Real Estate Investment During the year ended December 31, 2014 , the Company agreed to purchase a portfolio of properties leased by Arpo, LLC, which includes 14 properties, pursuant to a purchase and sale agreement. During the year ended December 31, 2014 , the Company funded all 14 properties, of which the acquisition of 13 of the properties closed. The last property in the portfolio did not close, and the agreement to purchase this property for $5.9 million was terminated. As of December 31, 2014 , $5.9 million had been refunded to the Company from escrowed funds for acquisition of real estate investment. Property Concentrations As of December 31, 2016 , two of the Company’s tenants, Walgreens and United Oil, accounted for 18% and 11% of the Company’s 2016 annualized rental income. The Company also had certain geographic concentrations in its property holdings. In particular, as of December 31, 2016 , eight of the Company’s properties were located in Texas and 13 were located in California , with the properties in each state accounting for 11% of the Company’s 2016 annualized rental income. Additionally, nine of the Company’s properties were located in Indiana and seven properties were located in Louisiana , with the properties in each state accounting for 10% of the Company’s 2016 annualized rental income. In addition, the Company had tenants in the pharmacy, discount store, gas and convenience and sporting goods industries, which comprised 19% , 16% , 11% and 10% , respectively, of the Company’s 2016 annualized rental income.

Intangible Lease Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS	INTANGIBLE LEASE ASSETS Intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2016 2015 In-place leases, net of accumulated amortization of $8,950 and $4,780, respectively (with a weighted average life remaining of 11.5 years and 12.5 years, respectively) $ 37,251 $ 39,632 Acquired above-market leases, net of accumulated amortization of $1,684 and $899, respectively (with a weighted average life remaining of 11.9 years and 12.8 years, respectively) 5,578 6,390 $ 42,829 $ 46,022 Amortization expense related to the in-place lease assets for the years ended December 31, 2016 , 2015 and 2014 was $4.2 million , $4.0 million and $735,000 , respectively. Amortization expense related to the acquired above-market lease assets for the years ended December 31, 2016 , 2015 and 2014 was $799,000 , $811,000 and $88,000 , respectively, and was recorded as a reduction to rental income in the consolidated statements of operations. Estimated amortization expense related to the intangible lease assets as of December 31, 2016 for each of the five succeeding fiscal years is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases Above-Market Leases 2017 $ 4,046 $ 772 2018 $ 3,767 $ 623 2019 $ 3,445 $ 482 2020 $ 3,235 $ 428 2021 $ 3,173 $ 411

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, the Company uses certain types of derivative instruments for the purpose of managing or hedging its interest rate risk. During the year ended December 31, 2016 , the Company entered into one interest rate swap agreement. As of December 31, 2016 , the Company had two interest rate swap agreements. The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2016 and 2015 (in thousands): Outstanding Notional Amount as of December 31, 2016 Interest Rate (1) Effective Date Maturity Date Fair Value of Assets and (Liabilities) as of December 31, Balance Sheet Location 2016 2015 Interest Rate Swap Property escrow deposits, derivative assets, prepaid expenses and other assets $ 21,100 3.49% 1/15/2016 2/1/2021 $ 238 $ — Interest Rate Swap Deferred rental income, derivative liabilities and other liabilities $ 120,000 4.02% 12/31/2015 4/25/2019 $ (634 ) $ (1,133 ) _____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2016 . Additional disclosures related to the fair value of the Company’s derivative instruments are included in Note 3 — Fair Value Measurements. The notional amount under the interest rate swap agreements is an indication of the extent of the Company’s involvement in each instrument, but does not represent exposure to credit, interest rate or market risks. Accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument. The Company designated the interest rate swaps as cash flow hedges in order to hedge the variability of the anticipated cash flows on its variable rate debt. The change in fair value of the effective portion of the derivative instruments that are designated as hedges is recorded in other comprehensive income (loss), with a portion of the amount subsequently reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. For the years ended December 31, 2016 and 2015 , the amounts reclassified were $1.5 million and $4,000 , respectively. There were no amounts reclassified for the year ended December 31, 2014 . During the next 12 months, the Company estimates that an additional $808,000 will be reclassified from other comprehensive income (loss) as an increase to interest expense. Any ineffective portion of the change in fair value of the derivative instruments is recorded in interest expense. There were no portions of the change in the fair value of the interest rate swaps that were considered ineffective during the year ended December 31, 2016 . The Company has agreements with each of its derivative counterparties that contain provisions whereby, if the Company defaults on certain of its unsecured indebtedness, the Company could also be declared in default on its derivative obligations, resulting in an acceleration of payment. If the Company had breached any of these provisions as of December 31, 2016 , it could have been required to settle its obligations under these agreements at an aggregate termination value, inclusive of interest payments and accrued interest, of $643,000 . In addition, the Company is exposed to credit risk in the event of non-performance by its derivative counterparties. The Company believes it mitigates its credit risk by entering into agreements with creditworthy counterparties. The Company records credit risk valuation adjustments on its interest rate swaps based on the credit quality of the Company and the respective counterparty. There were no termination events or events of default related to the interest rate swaps as of December 31, 2016 .

Notes Payable and Credit Facili

Notes Payable and Credit Facility	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
NOTES PAYABLE and CREDIT FACILITY	NOTES PAYABLE AND CREDIT FACILITY As of December 31, 2016 , the Company had $253.9 million of debt outstanding, including net deferred financing costs, with weighted average years to maturity of 3.1 years and a weighted average interest rate of 4.3% . The weighted average years to maturity is computed using the anticipated repayment date as specified in each loan agreement where applicable. The weighted average interest rate is computed using the interest rate in effect until the anticipated repayment date. Should the loan not be repaid at the anticipated repayment date, the applicable interest rate will increase as specified in the respective loan agreement until the extended maturity date. The following table summarizes the debt balances as of December 31, 2016 and 2015 , and the debt activity for the year ended December 31, 2016 (in thousands): During The Year Ended December 31, 2016 Balance as of December 31, 2015 Debt Issuance, (1) Repayments Accretion and (Amortization) Balance as of December 31, 2016 Credit facility $ 201,500 $ 31,000 $ (112,500 ) — $ 120,000 Fixed rate debt 67,750 67,600 — — 135,350 Line of credit with affiliate 20,000 — (20,000 ) — — Total debt $ 289,250 $ 98,600 $ (132,500 ) $ — $ 255,350 Net premiums (2) 511 — — (403 ) 108 Deferred costs (3) (1,298 ) (679 ) — 437 (1,540 ) Total debt, net $ 288,463 $ 97,921 $ (132,500 ) $ 34 $ 253,918 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (3) Deferred costs relate to mortgage notes payable and the term portion of the credit facility. As of December 31, 2016 , the fixed rate debt outstanding of $135.4 million included mortgage notes assumed with a face amount of $42.8 million and a fair value of $43.7 million at the date of assumption and $21.1 million of variable rate debt that is fixed through interest rate swap agreements, which has the effect of fixing the variable interest rate per annum through the maturity date of the variable rate debt. The fixed rate debt has interest rates ranging from 3.49% to 5.66% per annum. The debt outstanding matures on various dates from April 2017 to December 2024 . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $208.8 million as of December 31, 2016 . Each of the mortgage notes payable comprising the fixed rate debt is secured by the respective properties on which the debt was placed. The Company has a modified credit agreement (the “Modified Credit Agreement”), with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) as administrative agent. The Modified Credit Agreement reduced the revolving loans (the “Revolving Loans”) under the original credit agreement from $300.0 million to $180.0 million , and added a term loan (the “Term Loan”, and together with the Revolving Loan, the “Credit Facility”) in the amount of $120.0 million for a total capacity of $300.0 million under the Credit Facility. The Revolving Loans mature on April 25, 2017 ; however, subsequent to December 31, 2016 the Company elected to further extend the maturity date of the Revolving Loans to April 25, 2018. The Term Loan matures on April 25, 2019 . Depending upon the type of loan specified, and overall leverage ratio, the Credit Facility bears interest at (i) the one-month, two-month, three-month or six-month London Interbank Offered Rate (“LIBOR”) multiplied by the statutory reserve rate (the “Eurodollar Rate”) plus an interest rate spread ranging from 1.90% to 2.45% , depending on the Company’s leverage ratio (as defined in the Modified Credit Agreement); or (ii) a base rate ranging from 0.90% to 1.45% , depending on the Company’s leverage ratio (as defined in the Modified Credit Agreement), plus the greatest of: (a) JPMorgan Chase’s Prime Rate (as defined in the Modified Credit Agreement); (b) the Federal Funds Effective Rate (as defined in the Modified Credit Agreement) plus 0.50% ; or (c) one-month LIBOR plus 1.0% multiplied by the statutory reserve rate. As of December 31, 2016 , there were no amounts outstanding under the Revolving Loans, and the amount outstanding under the Term Loan totaled $120.0 million , which was subject to an interest rate swap agreement (the “Swapped Term Loan”). The interest rate swap agreement had the effect of fixing the Eurodollar Rate per annum beginning on December 31, 2015 through the maturity date of the Term Loan. As of December 31, 2016 , the all-in rate for the Swapped Term Loan was 4.02% . The Company had $180.0 million in unused capacity, subject to borrowing availability, under the Credit Facility as of December 31, 2016 . The Modified Credit Agreement contains customary representations, warranties, borrowing conditions and affirmative, negative and financial covenants, including minimum net worth, debt service coverage and leverage ratio requirements, maximum variable rate, recourse debt requirements and dividend payout requirements. In particular, the Modified Credit Agreement requires the Company to maintain a fixed charge coverage ratio equal to or greater than 1.50 , as well as a minimum consolidated net worth not less than $150.0 million plus 75% of the equity interests issued by the Company. The Company believes it was in compliance with the financial covenants of the Modified Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements as of December 31, 2016 . In addition, the Company previously had $20.0 million outstanding under its $60.0 million subordinated line of credit with an affiliate of the Company’s advisor (the “Series C Loan”), which was repaid in full on its maturity date of March 17, 2016. The Series C Loan was approved by a majority of the Company’s board of directors (including a majority of the independent directors) not otherwise interested in the transaction as being fair, competitive and commercially reasonable and no less favorable to the Company than a comparable loan between unaffiliated parties under the same circumstances. The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2016 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2017 $ 42,750 2018 — 2019 120,000 2020 388 2021 68,009 Thereafter 24,203 Total $ 255,350

Intangible Lease Liabilities

Intangible Lease Liabilities	12 Months Ended
	Dec. 31, 2016
Intangible Liabilities Disclosure [Abstract]
Intangible Lease Liabilities	INTANGIBLE LEASE LIABILITIES Intangible lease liabilities consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2016 2015 Acquired below-market lease intangibles, net of accumulated amortization of $1,123 and $582, respectively, (with a weighted average life remaining of 8.1 years and 9.0 years, respectively) $ 3,708 $ 4,249 Amortization of the intangible lease liabilities during the years ended December 31, 2016 , 2015 and 2014 was $541,000 , $535,000 and $47,000 , respectively, and was recorded as an addition to rental income in the consolidated statements of operations. Estimated amortization of the intangible lease liabilities as of December 31, 2016 for each of the five succeeding fiscal years is as follows (in thousands): Year Ending December 31, Amortization of Below-Market Leases 2017 $ 533 2018 $ 527 2019 $ 487 2020 $ 412 2021 $ 393

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2016 , 2015 and 2014 are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Common stock issued through distribution reinvestment plan $ 8,597 $ 6,701 $ 1,471 Distributions declared and unpaid $ 1,663 $ 1,218 $ 929 Accrued distribution and stockholder servicing fees, dealer manager fees and other offering costs $ 306 $ 20 $ 76 Change in fair value of interest rate swaps $ 737 $ (1,133 ) $ — Fair value of mortgage notes assumed in real estate acquisitions at date of assumption $ — $ — $ 43,744 Escrow deposits due to affiliate on acquired real estate assets $ — $ — $ 1,271 Supplemental Cash Flow Disclosures: Interest paid $ 10,973 $ 9,528 $ 1,265

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation In the ordinary course of business, the Company may become subject to litigation and claims. The Company is not aware of any material pending legal proceedings, other than ordinary routine litigation incidental to the Company’s business, to which the Company is a party or of which the Company’s properties are the subject. Purchase Commitments As of December 31, 2016 , the Company had entered into a purchase agreement with an unaffiliated third-party seller to acquire a 100% interest in one retail property, subject to meeting certain criteria, for a purchase price of $9.7 million , exclusive of closing costs. As of December 31, 2016 , the Company had a $284,000 property escrow deposit held by an escrow agent in connection with this future property acquisition. This deposit is included in the accompanying consolidated balance sheets in property escrow deposits, derivative assets, prepaid expenses and other assets and could be forfeited under certain circumstances. As of December 31, 2016 , the escrow deposit had not been forfeited. 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. In addition, the Company may own or acquire certain properties that are subject to environmental remediation. Generally, the seller of the property, the tenant of the property and/or another third party is responsible for environmental remediation costs related to a property. Additionally, in connection with the purchase of certain properties, the respective sellers and/or tenants may agree to indemnify the Company against future remediation costs. The Company also carries environmental liability insurance on its properties that provides limited coverage for any remediation liability and/or pollution liability for third-party bodily injury and/or property damage claims for which the Company may be liable. The Company is not aware of any environmental matters which it believes are reasonably likely to have a material effect on its results of operations, financial condition or liquidity.

Related-Party Transactions and

Related-Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred commissions, fees and expenses payable to CR V Advisors and certain of its affiliates in connection with the Offering and the acquisition, management and disposition of its assets. Selling commissions and dealer manager fees In connection with the Offering, CCC, the Company’s dealer manager, which is affiliated with CR V Advisors, receives selling commissions of up to 7.0% and 3.0% of gross offering proceeds from the primary portion of the Offering for Class A Shares and Class T Shares, respectively, and before reallowance of selling commissions earned by participating broker-dealers. The Company has been advised that CCC intends to reallow 100% of selling commissions earned to participating broker-dealers. In addition, CCC receives up to 2.0% of gross offering proceeds from the primary portion of the Offering for both Class A Shares and Class T Shares as a dealer manager fee in connection with the primary portion of the Offering. CCC, in its sole discretion, may reallow all or a portion of its dealer manager fee to participating broker-dealers. No selling commissions or dealer manager fees are paid to CCC or other participating broker-dealers with respect to shares sold pursuant to the DRIP. Other organization and offering expenses All other organization and offering expenses associated with the sale of the Company’s common stock (excluding selling commissions, dealer manager fees and distribution and stockholder servicing fees) are paid by CR V Advisors or its affiliates and are reimbursed by the Company up to 2.0% of aggregate gross offering proceeds. A portion of the other organization and offering expenses may be considered to be underwriting compensation. As of December 31, 2016 , CR V Advisors had paid organization and offering expenses in excess of 2.0% of aggregate gross offering proceeds in connection with the Offering. These excess amounts were not included in the consolidated financial statements of the Company because such amounts were not a liability of the Company as they exceeded 2.0% of gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess amounts may become payable. Distribution and stockholder servicing fees Through October 4, 2016, the Company paid CCC a distribution and stockholder servicing fee for Class T Shares that is calculated on a daily basis in the amount of 1/365th of 0.8% of the estimated per share NAV of the Class T Shares sold in the primary portion of the Offering. Pursuant to the Amended Dealer Manager Agreement, beginning on October 5, 2016, the distribution and stockholder servicing fee is calculated on a daily basis in an amount equal to 1/365th of 1.0% of the estimated per share NAV of the Class T Shares sold in the primary portion of the Offering. The maximum amount of distribution and stockholder servicing fees payable has not changed pursuant to the provisions of the Amended Dealer Manager Agreement. The distribution and stockholder servicing fee is paid monthly in arrears from cash flow from operations or, if the Company’s cash flow from operations is not sufficient to pay the distribution and stockholder servicing fee, from borrowings in anticipation of future cash flow. An estimated liability for future distribution and stockholder servicing fees payable to CCC is recognized at the time each Class T Share is sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares at the earliest of (i) the end of the month in which the total distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 4.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T Shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross proceeds from the sale of the Company’s shares in the Offering, excluding shares sold pursuant to the DRIP; (iii) the fourth anniversary of the last day of the month in which the Offering (excluding the offering of shares pursuant to the DRIP) terminates; (iv) the date such Class T Share is no longer outstanding; and (v) the date the Company effects a liquidity event. CCC may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee for services that such participating broker-dealers perform. No distribution and stockholder servicing fees are paid to CCC or other participating broker-dealers with respect to shares sold pursuant to the DRIP. Acquisition fees and expenses The Company pays CR V Advisors or its affiliates acquisition fees of up to 2.0% of: (1) the contract purchase price of each property or asset the Company acquires; (2) the amount paid in respect of the development, construction or improvement of each asset the Company acquires; (3) the purchase price of any loan the Company acquires; and (4) the principal amount of any loan the Company originates. In addition, the Company reimburses CR V Advisors or its affiliates for insourced expenses incurred in the process of acquiring a property or the origination or acquisition of a loan, which are fixed on an annual basis at 0.5% of the contract purchase price of each property and 0.5% of the amount advanced for a loan or other investment, which will be prorated for any partial calendar year. Additionally, CR V Advisors or its affiliates are reimbursed for third-party acquisition-related expenses incurred in the process of acquiring properties, so long as the total acquisition fees and expenses relating to the transaction do not exceed 6.0% of the contract purchase price. Advisory fees and expenses Pursuant to the advisory agreement with CR V Advisors, the Company pays CR V Advisors a monthly advisory fee based upon the Company’s monthly average invested assets, which, effective March 1, 2016, is based on the estimated market value of the Company’s real estate assets used to determine the Company’s estimated per share NAV as of February 29, 2016, as discussed in Note 1 — Organization and Business, and for those assets acquired subsequent to February 29, 2016, is based on the purchase price. The monthly advisory fee is equal to the following amounts: (1) an annualized rate of 0.75% paid on the Company’s average invested assets that are between $0 to $2.0 billion ; (2) an annualized rate of 0.70% paid on the Company’s average invested assets that are between $2.0 billion and $4.0 billion ; and (3) an annualized rate of 0.65% paid on the Company’s average invested assets that are over $4.0 billion . Operating expenses The Company reimburses CR V Advisors, or its affiliates, for the expenses they paid or incurred in connection with the advisory and administrative services provided to the Company, subject to the limitation that the Company will not reimburse CR V Advisors or its affiliates for any amount by which the operating expenses (including the advisory fee) at the end of the four preceding fiscal quarters exceed the greater of: (1) 2.0% of average invested assets, or (2) 25.0% of net income excluding any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of assets for that period. The Company will not reimburse CR V Advisors or its affiliates for the salaries and benefits paid to personnel in connection with the services for which CR V Advisors or its affiliates receive acquisition fees, and the Company will not reimburse CR V Advisors for salaries and benefits paid to the Company’s executive officers. Disposition fees If CR V Advisors or its affiliates provide a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of one or more properties (or the Company’s entire portfolio), the Company will pay CR V Advisors or its affiliates a disposition fee in an amount equal to up to one-half of the real estate or brokerage commission paid by the Company to third parties on the sale of such properties, not to exceed 1.0% of the contract price of the properties sold; provided, however, in no event may the total disposition fees paid to CR V Advisors, its affiliates and unaffiliated third parties, exceed the lesser of the customary competitive real estate commission or an amount equal to 6.0% of the contract sales price. In addition, if CR V Advisors or its affiliates provides a substantial amount of services (as determined by a majority of the Company’s independent directors) in connection with the sale of one or more assets other than properties, the Company may separately compensate CR V Advisors or its affiliates at such rates and in such amounts as the Board, including a majority of the Company’s independent directors, and CR V Advisors agree upon, not to exceed an amount equal to 1.0% of the contract price of the assets sold. During the years ended December 31, 2016 , 2015 and 2014 , no disposition fees were incurred for any such services provided by CR V Advisors or its affiliates. Subordinated performance fees The Company will pay a subordinated performance fee in connection with one of the following alternative events: (1) if the Company’s shares are listed on a national securities exchange, CR V Advisors, or its affiliates, will be entitled to a subordinated performance fee equal to 15.0% of the amount, if any, by which (i) the market value of the Company’s outstanding stock plus distributions paid by the Company prior to listing, exceeds (ii) the sum of the total amount of capital raised from investors and the amount of distributions necessary to generate a 6.0% annual cumulative, non-compounded return to investors; (2) if the Company is sold or its assets are liquidated, CR V Advisors will be entitled to a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after investors have received, from regular distributions plus special distributions paid from proceeds of such sale, a return of their net capital invested and a 6.0% annual cumulative, non-compounded return; or (3) upon termination of the advisory agreement, CR V Advisors may be entitled to a subordinated performance fee similar to the fee to which it would have been entitled had the portfolio been liquidated (based on an independent appraised value of the portfolio) on the date of termination. During the years ended December 31, 2016 , 2015 and 2014 , no subordinated performance fees were incurred related to any such events. The Company incurred commissions, fees and expense reimbursements as shown in the table below for services provided by CR V Advisors and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2016 2015 2014 Selling commissions $ 4,691 $ 3,261 $ 11,532 Dealer manager fees $ 1,642 $ 1,024 $ 3,402 Other organization and offering expenses $ 1,816 $ 1,177 $ 3,475 Distribution and stockholder servicing fees $ 16 (1 ) $ — $ — Acquisition fees and expenses (2) $ 690 $ 2,167 $ 9,631 Advisory fees and expenses (2) $ 4,841 $ 3,973 $ 751 Operating expenses (2) $ 2,035 $ 1,721 $ 344 ______________________ (1) Amounts are calculated for the respective period in accordance with the dealer manager agreement and exclude the estimated liability for future distribution and stockholder servicing fees payable to CCC of $306,000 , which is included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value, as described in Note 2 — Summary of Significant Accounting Policies. (2) During the years ended December 31, 2015 and 2014 , CR V Advisors permanently waived its rights to expense reimbursements totaling $250,000 and $773,000 , respectively, which amounts are excluded from the table above as the Company is not responsible for these sums. No expense reimbursements were waived during the year ended December 31, 2016 . Due to Affiliates As of December 31, 2016 , $1.3 million was recorded for services and expenses incurred, but not yet reimbursed to CR V Advisors, or its affiliates. The amount is primarily for advisory and operating expenses and distribution and stockholder servicing fees payable to CCC. As of December 31, 2015 , $1.1 million had been incurred primarily for offering and acquisition-related expenses by CR V Advisors or its affiliates, but had not yet been reimbursed by the Company. These amounts were included in due to affiliates in the consolidated balance sheets for such periods. Transactions The Company incurred $111,000 of interest expense related to the Series C Loan during the year ended December 31, 2016 . The Company incurred $484,000 of interest expense related to the Series C Loan during the year ended December 31, 2015 , of which $42,000 had been incurred, but not yet paid, and was included in due to affiliates on the consolidated balance sheets as of December 31, 2015 . The Company incurred $131,000 of interest expense related to the Series C Loan during the year ended December 31, 2014 . During the year ended December 31, 2016 , the Company repaid the $20.0 million outstanding balance under the Series C Loan, which matured on March 17, 2016. Refer to Note 7 — Notes Payable and Credit Facility to our consolidated financial statements in this Annual Report on Form 10-K for further explanation.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2016
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY Under various agreements, the Company has engaged or may engage CR V Advisors or its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company’s common stock available for issuance, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon CR V Advisors or its affiliates. In the event that these companies are unable to provide the Company with these services, the Company would be required to find alternative providers of these services.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY As of December 31, 2016 , the Company was authorized to issue 490.0 million shares of common stock pursuant to the primary offering, consisting of two classes of shares ( 245.0 million of Class A Shares and 245.0 million of Class T Shares) and 10.0 million shares of preferred stock. As of December 31, 2015 , the Company was authorized to issue 490.0 million shares of common stock (now referred to as Class A Shares) and 10.0 million shares of preferred stock. All shares of such stock have a par value of $0.01 per share. On or before June 19, 2013, the Company sold 20,000 shares of common stock, at $10.00 per share, to CREInvestments, LLC and its predecessor. The Company’s board of directors may authorize additional shares of capital stock and designate the terms of such additional shares of capital stock without obtaining shareholder approval. Effective as of February 7, 2014, the Company effected the Reverse Stock Split, resulting in 8,000 shares of the Company’s common stock issued and outstanding. On February 7, 2014, the ownership of such shares was transferred to VEREIT. Pursuant to the Company’s charter, VEREIT is prohibited from selling the 8,000 shares of the common stock that represents the initial investment in the Company for so long as Cole Capital remains the Company’s sponsor; provided, however, that VEREIT may transfer ownership of all or a portion of these 8,000 shares of the Company’s common stock to other affiliates of the Company’s sponsor. Distribution Reinvestment Plan Pursuant to the DRIP, the Company allows stockholders to elect to have their distributions reinvested in additional shares of the Company’s common stock. Distributions on Class A Shares are reinvested in Class A Shares and distributions on Class T Shares are reinvested in Class T Shares. Until April 8, 2016, the purchase price per share under the DRIP was $23.75 for Class A Shares. Commencing on April 11, 2016, the purchase price per share under the DRIP was $24.00 per share for Class A Shares and $24.00 per share for Class T Shares, the estimated per share NAV as determined by the Board. On March 24, 2017, the Board established an updated estimated per share NAV of the Company’s common stock, as of December 31, 2016 , of $24.00 per share. Therefore, distributions will continue to be reinvested in shares of the Company’s common stock pursuant to the DRIP at a price of $24.00 per share, the updated estimated per share NAV as of December 31, 2016, as determined by the Board. The Board may terminate or amend the DRIP at the Company’s discretion at any time upon 10 days’ prior written notice to the stockholders. During the years ended December 31, 2016 , 2015 and 2014 , approximately 359,000 , 282,000 and 62,000 shares, respectively, were purchased under the DRIP for $8.6 million , $6.7 million and $1.5 million respectively, which were recorded as redeemable common stock on the consolidated balance sheets. Share Redemption Program The Company’s share redemption program permits its stockholders to sell their shares back to the Company after they have held them for at least one year, subject to the significant conditions and limitations described below. The share redemption program provides that the Company will redeem shares of its common stock from requesting stockholders, subject to the terms and conditions of the share redemption program. The Company will limit the number of shares redeemed pursuant to the share redemption program as follows: (1) the Company will not redeem in excess of 5% of the weighted average number of shares outstanding during the trailing 12 months prior to the end of the fiscal quarter for which the redemptions are being paid; and (2) funding for the redemption of shares will be limited, among other things, to the net proceeds the Company receives from the sale of shares under the DRIP, net of shares redeemed to date. In an effort to accommodate redemption requests throughout the calendar year, the Company intends to limit quarterly redemptions to approximately 1.25% of the weighted average number of shares outstanding during the trailing 12 -month period ending on the last day of the fiscal quarter, and funding for redemptions for each quarter generally will be limited to the net proceeds the Company receives from the sale of shares in the respective quarter under the DRIP. The redemption price per share (other than for shares purchased pursuant to the DRIP) will depend on the length of time the stockholder has held such shares as follows: after one year from the purchase date, 95% of the most recent estimated per share NAV as determined by the Board; after two years from the purchase date, 97.5% of the most recent estimated per share NAV as determined by the Board; and after three years from the purchase date, 100% of the most recent estimated per share NAV as determined by the Board. The redemption price for shares purchased pursuant to the DRIP will be 100% of the most recent estimated per share NAV. Prior to April 11, 2016, the purchase price paid for each share in the primary portion of the Offering served as the most recent estimated per share value for purposes of the share redemption program. From April 11, 2016 until such time as the Board determines a new estimated per share NAV, $24.00 per share will serve as the most recent estimated per share NAV for purposes of the share redemption program because the estimated per share NAV as of December 31, 2016 is the same as the estimated per share NAV as of February 29, 2016. See the discussion of the updated estimated per share NAV of the Company’s common stock effective March 27, 2017 in Note 17 — Subsequent Events. Upon receipt of a request for redemption, the Company may conduct a Uniform Commercial Code search to ensure that no liens are held against the shares. If the Company cannot purchase all shares presented for redemption in any fiscal quarter, based upon insufficient cash available and/or the limit on the number of shares the Company may redeem during any quarter or year, the Company will give priority to the redemption of deceased stockholders’ shares. The Company next will give priority to requests for full redemption of accounts with a balance of 250 shares or less at the time the Company receives the request, in order to reduce the expense of maintaining small accounts. Thereafter, the Company will honor the remaining quarterly redemption requests on a pro rata basis. Following such quarterly redemption period, the unsatisfied portion of the prior redemption request must be resubmitted, prior to the last day of the new quarter. Unfulfilled requests for redemption will not be carried over automatically to subsequent redemption periods. The Company redeems shares no later than the end of the month following the end of each fiscal quarter. Requests for redemption must be received on or prior to the end of the fiscal quarter in order for the Company to repurchase the shares in the month following the end of that fiscal quarter. The Board may amend, suspend or terminate the share redemption program at any time upon 30 days’ prior written notice to the stockholders. During the years ended December 31, 2016 and 2015 , the Company redeemed approximately 194,000 and 37,000 shares, respectively, under the share redemption program for $4.6 million and $895,000 , respectively. The Company did not redeem any shares during the year ended December 31, 2014 . Distributions Payable and Distribution Policy The Board authorized a daily distribution, based on 366 days in the calendar year, of $0.0043032787 per Class A Share for stockholders of record of such class of shares as of the close of business on each day of the period commencing on January 1, 2016 and ending on December 31, 2016 . Our board of directors authorized a daily distribution on Class T Shares to our stockholders of record of such class of shares as of the close of business on each day of the period commencing on the date that the first Class T Share was sold in the Offering and ending on December 31, 2016 , equal to $0.0043032787 per Class T Share, less the per share distribution and stockholder servicing fees that are payable with respect to the Class T Shares (as calculated on a daily basis). As of December 31, 2016 , the Company had distributions payable of $1.7 million . In addition, the Board authorized a daily distribution, based on 365 days in the calendar year, of $0.004315068 per Class A Share for stockholders of record for stockholders of record of such class of shares as of the close of business on each day of the period commencing on January 1, 2017 and ending on June 30, 2017 . Our board of directors authorized a daily distribution on Class T Shares to our stockholders of record of such class of shares as of the close of business on each day of the period commencing on January 1, 2017 and ending on June 30, 2017 , equal to $0.004315068 per Class T Share, less the per share distribution and stockholder servicing fees that are payable with respect to the Class T Shares (as calculated on a daily basis).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For federal income tax purposes, distributions to stockholders are characterized as ordinary dividends, capital gain distributions, or nondividend distributions. Nondividend distributions will reduce U.S stockholders’ basis (but not below zero) in their shares. The following table shows the character of the distributions paid on a percentage basis for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, Character of Distributions (Unaudited): 2016 2015 2014 Ordinary dividends 10.5 % 33.6 % 32.2 % Nondividend distributions 89.5 % 66.4 % 67.8 % Total 100.0 % 100.0 % 100.0 % During the years ended December 31, 2016 , 2015 and 2014 , the Company distributed as dividends to its shareholders 100% of its taxable income for federal income tax purposes. Accordingly, no provision for federal income taxes related to such taxable income was recorded on the Company’s financial statements. During the years ended December 31, 2016 , 2015 and 2014 , the Company incurred state and local income and franchise taxes of $60,000 , $92,000 , and $96,000 , respectively, which were recorded in general and administrative expenses in the consolidated statements of operations. The Company had no unrecognized tax benefits as of or during the years ended December 31, 2016 , 2015 and 2014 . Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES The Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2016 , the leases had a weighted-average remaining term of 10.8 years. The leases may have provisions to extend the lease agreements, options for early termination after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2016 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2017 $ 34,637 2018 34,055 2019 33,407 2020 32,556 2021 31,906 Thereafter 222,661 Total $ 389,222

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2016
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, 2016 and 2015 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods presented includes all adjustments, which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period. December 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 9,767 $ 10,445 $ 10,041 $ 10,185 Acquisition-related fees and expenses $ 1,250 $ 24 $ 2 $ 10 Operating income $ 1,783 $ 3,017 $ 3,026 $ 3,267 Net (loss) income $ (1,315 ) $ (39 ) $ (20 ) $ 189 Basic and diluted net (loss) income per share - Class A common stock (1) $ (0.13 ) $ (0.00 ) $ (0.00 ) $ 0.02 Distributions declared per common share - Class A common stock $ 0.391 $ 0.392 $ 0.396 $ 0.396 Basic and diluted net loss per share - Class T common stock (1), (2) $ — $ (0.05 ) $ (0.05 ) $ (0.04 ) Distributions declared per common share - Class T common stock (2) $ — $ 0.219 $ 0.396 $ 0.396 _______________________________________________________ (1) The sum of the quarterly net income (loss) per share amounts does not agree to the full year net loss per share amounts. The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. (2) In connection with Post-effective Amendment No. 3 to the Company’s Registration Statement, which was declared effective by the SEC on April 29, 2016, the Company began offering up to $1,125,000,000 , of the $2.5 billion in shares that make up the primary portion of the Offering, in Class T Shares, along with up to $1,375,000,000 in Class A Shares. December 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 8,070 $ 8,617 $ 9,144 $ 9,785 Acquisition-related fees and expenses $ 1,726 $ 684 $ 511 $ 87 Operating income $ 1,072 $ 2,054 $ 2,479 $ 2,716 Net (loss) income $ (1,253 ) $ (510 ) $ (479 ) $ 167 Basic and diluted net (loss) income per share - Class A common stock (1) $ (0.18 ) $ (0.07 ) $ (0.06 ) $ 0.02 Distributions declared per common share - Class A common stock $ 0.388 $ 0.393 $ 0.397 $ 0.397 __________________________________________________ (1) The sum of the quarterly net income (loss) per share amounts does not agree to the full year net loss per share amounts. The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The following events occurred subsequent to December 31, 2016: Redemption of Shares of Common Stock Subsequent to December 31, 2016 , the Company redeemed approximately 30,000 shares for $692,000 at an average per share price of $23.42 pursuant to the Company’s share redemption program. Credit Facility and Notes Payable Subsequent to December 31, 2016 , the Company repaid $42.8 million of fixed rate debt using existing capacity on the Revolving Loans. Additionally, subsequent to December 31, 2016 , the Company elected to extend the maturity date of the Revolving Loans to April 25, 2018. Investment in Real Estate Assets Subsequent to December 31, 2016 , the Company acquired one real estate property for a purchase price of $9.7 million . The acquisition was funded with net proceeds from the Offering and available borrowings. The Company has not completed its initial purchase price allocation with respect to this property and therefore cannot provide similar disclosures to those included in Note 4 in these consolidated financial statements for this property. Estimated Per Share NAV On March 24, 2017, the Board established an estimated per share NAV of the Company’s common stock as of December 31, 2016, of $24.00 per share for both Class A Shares and Class T Shares. Because the estimated per share NAV as of December 31, 2016 is the same as the estimated per share NAV as of February 29, 2016, the Company will continue to offer Class A Shares in the primary portion of the Offering for $ 26.37 per share, Class T Shares in the primary portion of the Offering for $ 25.26 per share and Class A Shares and Class T Shares in the DRIP for $24.00 per share. Additionally, $24.00 per share will continue to serve as the most recent estimated per share NAV for purposes of the share redemption program.

Schedule III - Real Estate Asse

Schedule III - Real Estate Assets and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation	Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2016 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Real Estate Held for Investment the Company Has Invested in Under Operating Leases: Aaron’s: Arkadelphia, AR (f) $ 125 $ 748 $ — $ 873 $ 38 12/12/2014 2014 Academy Sports: Cartersville, GA (f) 1,384 7,427 — 8,811 507 6/27/2014 2014 Advance Auto: Fairmont, NC (f) 56 949 — 1,005 68 3/18/2014 2004 Hampton, VA (f) 474 759 — 1,233 25 9/25/2015 2005 Stratford, CT (f) 1,140 1,395 — 2,535 32 2/8/2016 2015 Aspen Dental: Rogers, AR (f) 592 1,090 — 1,682 32 11/9/2015 2014 Bass Pro Shops: Portage, IN (f) 1,400 4,044 87 5,531 244 10/22/2014 2006 Blankenbaker Plaza: Louisville, KY $ 9,894 3,557 11,430 — 14,987 679 10/23/2014 1999 Brynwood Square: Rockford, IL (f) 1,194 10,515 — 11,709 809 10/23/2014 1983 Buffalo Wild Wings & Shoe Carnival: Salina, KS (f) 689 2,023 — 2,712 123 1/26/2015 2014 Burger King: Yukon, OK (f) 519 587 — 1,106 34 9/30/2014 2000 Burlington Coat Factory: Bangor, ME (f) 1,124 3,890 — 5,014 234 12/22/2014 2001 CVS: Riverton, NJ (f) 699 4,657 — 5,356 308 6/30/2014 2007 Dollar General: Athens, WV (f) 400 1,132 — 1,532 62 1/16/2015 2014 Autaugaville, AL (f) 130 827 — 957 42 2/26/2015 2014 Bluefield, WV (f) 250 993 — 1,243 49 6/29/2015 2015 Braham, MN (f) 66 906 — 972 51 10/24/2014 2014 Charleston, WV (f) 383 963 — 1,346 52 2/27/2015 2014 Charleston, WV (f) 361 863 — 1,224 44 6/29/2015 2015 Clarion, IA (f) 128 860 — 988 49 10/24/2014 2014 Collinsville, AL (f) 139 870 — 1,009 50 11/20/2014 2014 Dothan, AL (f) 208 722 — 930 37 2/26/2015 2014 Elmwood, IL (f) 154 808 — 962 48 9/3/2014 2012 Glouster, OH (f) 334 986 — 1,320 52 3/24/2015 2015 Huntington, WV (f) 293 1,023 — 1,316 45 5/15/2015 2015 Huntington, WV (f) 278 989 — 1,267 58 9/29/2014 2014 Junction City, OH (f) 68 823 — 891 48 9/25/2014 2014 Lineville, AL (f) 102 1,128 — 1,230 57 2/26/2015 2014 Logansport, IN (f) 69 942 — 1,011 71 3/31/2014 2014 Moundridge, KS (f) 190 668 — 858 52 3/18/2014 2014 Oneonta, AL (f) 93 917 — 1,010 52 11/20/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2016 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Dollar General (continued): Pipestone, MN (f) $ 130 $ 891 $ — $ 1,021 $ 52 9/19/2014 2014 Ridgeley, WV (f) 73 1,122 — 1,195 60 2/27/2015 2014 Selma, AL (f) 18 851 — 869 43 2/26/2015 2014 Selma, AL (f) 146 903 — 1,049 52 11/4/2014 2014 Semmes, AL (f) 139 837 — 976 43 2/26/2015 2014 Shorter, AL (f) 91 935 — 1,026 54 11/20/2014 2014 Sissonville, WV (f) 344 827 — 1,171 43 3/24/2015 2015 South Charleston, WV (f) 335 991 — 1,326 48 4/6/2015 2014 Talladega, AL (f) 82 789 — 871 40 2/26/2015 2014 Virden, IL (f) 65 1,111 — 1,176 60 11/14/2014 2014 Wakarusa, IN (f) 161 1,038 — 1,199 61 9/3/2014 2012 Willard, MO (f) 258 904 — 1,162 52 11/14/2014 2014 Wolcottville, IN (f) 151 910 — 1,061 54 9/3/2014 2013 Family Dollar: Bearden, AR (f) 86 678 — 764 32 3/23/2015 2014 Cabot, AR (f) 220 895 — 1,115 43 2/13/2015 2014 Columbus, OH (f) 359 1,032 — 1,391 55 2/20/2015 2014 Hobbs, NM (f) 350 782 — 1,132 42 12/19/2014 2014 Lewiston, ME (f) 295 1,015 — 1,310 59 2/13/2015 2014 Morgan, UT (f) 235 858 — 1,093 58 8/18/2014 2013 New Roads, LA (f) 122 759 — 881 35 3/23/2015 2014 Roswell, NM (f) 379 739 — 1,118 44 9/12/2014 2014 Salina, UT (f) 224 913 — 1,137 62 8/18/2014 2014 San Antonio, TX (f) 345 905 — 1,250 54 12/12/2014 2014 San Antonio, TX (f) 344 1,024 — 1,368 55 2/20/2015 2014 Talladega, AL (f) 186 968 — 1,154 53 12/12/2014 2014 Tennessee Colony, TX (f) 89 829 — 918 47 11/21/2014 2014 Valley, AL (f) 184 928 — 1,112 46 2/13/2015 2014 Walthourville, GA (f) 327 952 — 1,279 48 2/13/2015 2014 Warrenville, SC (f) 98 1,014 — 1,112 51 2/27/2015 2014 Fresh Thyme: Lafayette, IN (f) 410 6,208 — 6,618 397 10/17/2014 2014 Houma Crossing: Houma, LA $ 12,264 5,359 17,574 35 22,968 1,180 9/25/2014 2008 Kohl’s: Eagan, MN (f) 3,226 5,579 — 8,805 132 2/18/2016 1994 Kroger: Bay City, MI (f) 1,045 5,224 — 6,269 336 9/24/2014 2012 Lawton Marketplace: Lawton, OK 19,247 3,169 29,070 — 32,239 1,839 11/5/2014 2013 Lowe’s: Hermitage, PA (f) 2,499 10,517 — 13,016 221 3/9/2016 1996 Mattress Firm: Draper, UT (f) 651 1,510 — 2,161 88 12/19/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2016 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Mattress Firm (continued): Lake City, FL (f) $ 656 $ 1,075 $ — $ 1,731 $ 59 12/9/2014 2014 Raleigh, NC (f) 431 1,121 — 1,552 68 9/12/2014 2014 Muncie Marketplace: Muncie, IN (f) 2,761 12,461 — 15,222 527 6/15/2015 2014 O ’ Reilly Auto Parts: Bennettsville, SC (f) 375 910 — 1,285 36 6/9/2015 2014 Flowood, MS (f) 576 921 — 1,497 23 1/29/2016 2015 Iron Mountain, MI (f) 121 1,211 — 1,332 65 11/21/2014 2014 Raising Cane’s: Murphy, TX (f) 648 1,960 — 2,608 116 9/30/2014 2014 Reno, NV (f) 1,119 2,174 — 3,293 119 12/18/2014 2002 Shoppes of Gary Farms: Bowling Green, KY $ 11,206 2,039 13,730 24 15,793 809 11/24/2014 2013 Shops at Abilene: Abilene, TX 14,989 3,414 21,270 188 24,872 1,291 12/11/2014 2004 Stop & Shop: North Kingstown, RI (f) 668 998 — 1,666 60 8/6/2014 1979 Tractor Supply: Blytheville, AR (f) 169 2,413 — 2,582 143 3/11/2015 2014 Midland, NC (f) 213 2,317 — 2,530 157 6/20/2014 2013 United Oil: Carson, CA (f) 3,774 1,892 — 5,666 109 9/30/2014 2011 Fallbrook, CA (f) 3,037 725 — 3,762 42 9/30/2014 2012 Harbor City, CA (f) 2,391 1,096 — 3,487 63 9/30/2014 2002 Hawthorne, CA (f) 1,744 363 — 2,107 21 9/30/2014 2002 Lakewood, CA (f) 2,457 1,423 — 3,880 82 9/30/2014 1997 Long Beach, CA (f) 2,129 777 — 2,906 45 9/30/2014 2003 Los Angeles, CA (f) 2,761 1,235 — 3,996 71 9/30/2014 1999 Los Angeles, CA (f) 3,499 860 — 4,359 50 9/30/2014 2001 San Clemente, CA (f) 3,447 985 — 4,432 57 9/30/2014 2003 San Diego, CA (f) 2,002 284 — 2,286 16 9/30/2014 2006 San Diego, CA (f) 3,633 783 — 4,416 45 9/30/2014 2009 San Diego, CA (f) 1,767 705 — 2,472 41 9/30/2014 2014 Santa Ana, CA (f) 2,090 598 — 2,688 34 9/30/2014 2008 Village at Chapel Hill: Douglasville, GA (f) 2,481 10,504 — 12,985 643 1/27/2015 2009 Vitamin Shoppe: Taylor, MI (f) 820 399 — 1,219 20 1/29/2015 2015 Walgreens: Baton Rouge, LA 4,494 822 4,257 — 5,079 245 9/26/2014 2006 Clinton Township, MI 4,275 2,399 2,977 — 5,376 173 11/26/2014 2000 Delavan, WI 3,728 245 4,022 — 4,267 232 9/26/2014 2006 Edmond, OK (f) 889 3,206 — 4,095 192 8/8/2014 2007 Greenville, OH (f) 953 3,164 — 4,117 162 12/15/2014 2006 Harrison, AR 4,825 353 5,184 — 5,537 315 11/26/2014 2005 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2016 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) Acquired Constructed Walgreens (continued): Houma, LA $ 4,022 $ 1,343 $ 3,100 $ — $ 4,443 $ 179 9/26/2014 2007 Indianapolis, IN 4,675 1,238 4,734 — 5,972 289 11/26/2014 1999 Kilgore, TX (f) 588 5,074 — 5,662 327 6/27/2014 2007 Kokomo, IN 3,173 204 3,408 — 3,612 196 9/26/2014 2006 Lees Summit, MO 4,250 1,008 4,270 — 5,278 259 11/26/2014 1997 Lubbock, TX 4,125 845 3,598 — 4,443 208 9/26/2014 2006 Richmond, IN 4,406 138 4,923 — 5,061 283 9/26/2014 2006 Salisbury, NC 3,776 920 3,246 — 4,166 186 9/26/2014 2006 San Antonio, TX 7,536 2,051 6,379 — 8,430 366 9/26/2014 2005 Siloam Springs, AR 3,900 933 4,146 — 5,079 251 11/26/2014 2007 Slidell, LA 3,075 1,557 2,714 — 4,271 160 11/26/2014 1996 Sulphur, LA 3,554 1,019 2,875 — 3,894 166 9/26/2014 2006 Whiteville, NC 3,936 888 3,453 — 4,341 199 9/26/2014 2007 West Marine: Chicago, IL (f) 5,546 5,748 — 11,294 204 8/28/2015 2015 Winn-Dixie: Amite, LA (f) 286 2,297 — 2,583 200 9/30/2014 1994 $ 135,350 $ 114,241 $ 335,981 $ 334 $ 450,556 $ 19,295 As of December 31, 2016 , the Company owned 108 retail properties and eight anchored shopping centers. (b) The aggregate cost for federal income tax purposes was $514.2 million . (c) The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2016 2015 2014 Balance, beginning of period $ 424,404 $ 346,353 $ — Additions: Acquisitions 25,852 78,051 346,318 Improvements 300 — 35 Total additions 26,152 78,051 346,353 Balance, end of period $ 450,556 $ 424,404 $ 346,353 (d) The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): Years Ended December 31, 2016 2015 2014 Balance, beginning of period $ 10,058 $ 1,563 $ — Additions Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired 9,208 8,493 1,563 Improvements - Depreciation expense for tenant improvements and building equipment 29 2 — Total additions 9,237 8,495 1,563 Balance, end of period $ 19,295 $ 10,058 $ 1,563 (e) The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, buildings are depreciated over 40 years , and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter. (f) Property is included in the Credit Facility’s borrowing base. As of December 31, 2016 , the Company had $120.0 million outstanding under the Credit Facility.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting	The summary of significant accounting policies presented below is designed to assist in understanding the Company’s consolidated financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”), in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Real Estate Investments, Recoverability of Real Estate Assets, and Assets Held for Sale	Real Estate Investments Real estate assets are stated at cost, less accumulated depreciation and amortization. Amounts capitalized to real estate assets consist of the cost of acquisition, excluding acquisition-related fees and expenses, construction and any tenant improvements, major improvements and betterments that extend the useful life of the real estate assets and leasing costs. All acquisition-related fees and expenses, repairs and maintenance are expensed as incurred. The Company considers the period of future benefit of each respective asset to determine the appropriate useful life. The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term Recoverability of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value will be determined using a discounted cash flow analysis and recent comparable sales transactions. No impairment indicators were identified and no impairment losses were recorded during the years ended December 31, 2016 , 2015 or 2014 . Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease depreciation and amortization of the assets related to the property and estimate the fair value, net of selling costs. If, in management’s opinion, the fair value, net of selling costs, of the asset is less than the carrying amount of the asset, an adjustment to the carrying amount would be recorded to reflect the estimated fair value of the property, net of selling costs.
Allocation of Purchase Price of Real Estate Assets	Allocation of Purchase Price of Real Estate Assets Upon the acquisition of real properties, the Company allocates the purchase price to acquired tangible assets, consisting of land, buildings and improvements, and to identified intangible assets and liabilities, consisting of the value of above- and below-market leases and the value of in-place leases, based in each case on their respective fair values. Acquisition-related fees and expenses are expensed as incurred. The Company utilizes independent appraisals to assist in the determination of the fair values of the tangible assets of an acquired property (which includes land and buildings). The information in the appraisal, along with any additional information available to the Company’s management, is used in estimating the amount of the purchase price that is allocated to land. Other information in the appraisal, such as building value and market rents, may be used by the Company’s management in estimating the allocation of purchase price to the building and to intangible lease assets and liabilities. The appraisal firm has no involvement in management’s allocation decisions other than providing this market information. The fair values of above- and below-market lease intangibles are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) an estimate of fair market lease rates for the corresponding in-place leases, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease including, for below-market leases, any bargain renewal periods. The above-market and below-market lease intangibles are capitalized as intangible lease assets or liabilities, respectively. Above-market leases are amortized as a reduction to rental income over the remaining terms of the respective leases. Below-market leases are amortized as an increase to rental income over the remaining terms of the respective leases, including any bargain renewal periods. In considering whether or not the Company expects a tenant to execute a bargain renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition, such as the financial strength of the tenant, remaining lease term, the tenant mix of the leased property, the Company’s relationship with the tenant and the availability of competing tenant space. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of above-market or below-market lease intangibles relating to that lease would be recorded as an adjustment to rental income. The fair values of in-place leases include estimates of direct costs associated with obtaining a new tenant and opportunity costs associated with lost rental and other property income, which are avoided by acquiring a property with an in-place lease. Direct costs associated with obtaining a new tenant include leasing commissions, legal and other related expenses and are estimated in part by utilizing information obtained from independent appraisals and management’s consideration of current market costs to execute a similar lease. The intangible values of opportunity costs, which are calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease, are capitalized as intangible lease assets and are amortized to expense over the remaining term of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts of in-place lease assets relating to that lease would be expensed. The Company may acquire certain properties subject to contingent consideration arrangements that may obligate the Company to pay additional consideration to the seller based on the outcome of future events. Additionally, the Company may acquire certain properties for which it funds certain contingent consideration amounts into an escrow account pending the outcome of certain future events. The outcome may result in the release of all or a portion of the escrow funds to the Company or the seller or a combination thereof. Contingent consideration arrangements, including amounts funded through an escrow account, will be recorded upon acquisition of the respective property at their estimated fair value, and any changes to the estimated fair value, subsequent to acquisition, will be reflected in the accompanying consolidated statements of operations in acquisition-related fees and expenses. The determination of the amount of contingent consideration arrangements is based on the probability of several possible outcomes as identified by management. The Company estimates the fair value of assumed mortgage notes payable based upon indications of current market pricing for similar types of debt financing with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and any difference between such estimated fair value and the mortgage note’s outstanding principal balance is amortized or accreted to interest expense over the term of the respective mortgage note payable. The determination of the fair values of the real estate assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, capitalization and discount rates, interest rates and other variables. The use of alternative estimates may result in a different allocation of the Company’s purchase price, which could materially impact the Company’s results of operations.
Restricted Cash and Escrows	Restricted Cash and Escrows The Company had $94,000 and $354,000 in restricted cash as of December 31, 2016 and 2015 , respectively. Included in restricted cash were $94,000 and $350,000 held by lenders in lockbox accounts as of December 31, 2016 and 2015 , respectively, as well as escrowed investor proceeds of $4,000 for which shares of common stock had not been issued as of December 31, 2015 . As part of certain debt agreements, rent from certain of the Company’s tenants is deposited directly into a lockbox account, from which the monthly debt service payments are disbursed to the lender and the excess funds are disbursed to the Company.
Cash Concentrations	Cash Concentrations Cash and cash equivalents include cash in bank accounts. The Company deposits cash with several high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit of $250,000. At times, the Company’s cash and cash equivalents may exceed federally insured levels. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs represent commitment fees, legal fees and other costs associated with obtaining commitments for 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 written off when the associated debt is refinanced or repaid before maturity. The presentation of all deferred financing costs, other than those associated with the revolving loan portion of the credit facility, are classified such that the debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the related debt liability rather than as an asset. Debt issuance costs related to securing a revolving line of credit are presented as an asset and amortized ratably over the term of the line of credit arrangement. As such, the Company’s current and corresponding prior period total deferred costs, net in the accompanying consolidated balance sheets relate only to the revolving loan portion of the credit facility and the historical presentation, amortization and treatment of unamortized costs are still applicable. As of December 31, 2016 and 2015 , the Company had $296,000 and $997,000 , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined the financing will not close.
Distribution and Stockholder Servicing Fees	Distribution and Stockholder Servicing Fees The Company pays CCC a distribution and stockholder servicing fee for Class T Shares sold in the primary portion of the Offering. Through October 4, 2016, the daily amount of the distribution and stockholder servicing fee payable was calculated to equal 1/365th of 0.8% of the estimated per share NAV of the Class T Shares sold in the primary portion of the Offering. On October 5, 2016, the Company entered into Amendment No. 1 to its Amended and Restated Dealer Manager Agreement (the “Amended Dealer Manager Agreement”). Pursuant to the Amended Dealer Manager Agreement, the calculation of the daily amount of distribution and stockholder servicing fee was changed to equal 1/365th of 1.0% of the estimated per share NAV of the Class T Shares sold in the primary portion of the Offering. The aggregate distribution and stockholder servicing fee for Class T Shares, which was unchanged by Amendment No. 1 to the Amended and Restated Dealer Manager Agreement, will not exceed an amount equal to 4.0% of the total gross offering proceeds of Class T Shares sold in the primary portion of the Offering. The Company will cease paying the distribution and stockholder servicing fee with respect to Class T Shares sold in the Offering at the earliest of: (i) the end of the month in which the transfer agent, on the Company’s behalf, determines that total distribution and stockholder servicing fees paid by a stockholder within his or her individual account would be equal to 4.0% of the stockholder’s total gross investment amount at the time of the purchase of the primary Class T Shares held in such account; (ii) the date on which the aggregate underwriting compensation from all sources equals 10.0% of the gross proceeds from the aggregate sale of Class A Shares and Class T Shares in the primary offering (i.e., excluding proceeds from sales pursuant to the DRIP); (iii) the fourth anniversary of the last day of the month in which the Company’s public offering (excluding the DRIP) terminates; (iv) the date such Class T Share is no longer outstanding; and (v) the date the Company effects a liquidity event (such as the sale of the Company, the sale of all or substantially all of the Company’s assets, a merger or similar transaction, the listing of the Company’s shares of common stock for trading on a national securities exchange or an alternative strategy that would result in a significant increase in the opportunities for stockholders to dispose of their shares). CCC may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee. The distribution and stockholder servicing fee is paid monthly in arrears. An estimated liability for future distribution and stockholder servicing fees payable to CCC is recognized at the time each Class T Share is sold and included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value.
Due to Affiliates	Due to Affiliates CR V Advisors, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offering and the acquisition, management, financing and leasing of the properties of the Company.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for its derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded as other comprehensive income (loss). The changes in fair value for derivative instruments that are not designated as hedges or that do not meet the hedge accounting criteria are recorded as a gain or loss to operations.
Redeemable Common Stock	Redeemable Common Stock Under the Company’s share redemption program, the Company’s obligation to redeem shares of its outstanding common stock is limited, among other things, to the net proceeds received by the Company from the sale of shares under the DRIP, net of shares redeemed to date. The Company records amounts that are redeemable under the share redemption program as redeemable common stock outside of permanent equity in its consolidated balance sheets. Changes in the amount of redeemable common stock from period to period are recorded as an adjustment to capital in excess of par value.
Revenue Recognition	Revenue Recognition Certain properties have leases where minimum rental payments increase during the term of the lease. The Company records rental income for the full term of each lease on a straight-line basis when earned and collectability is reasonably assured. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Expected reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursement income in the period when such costs are incurred. The Company continually reviews receivables related to rent, including any unbilled straight-line rent 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. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the allowance for uncollectible accounts.
Income Taxes	Income Taxes The Company elected to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with its taxable year ended December 31, 2014. The Company will generally not be subject to federal corporate income tax to the extent it distributes its taxable income to its stockholders, and so long as it, among other things, distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it or its subsidiaries may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
Earnings (Loss) Per Share	Earnings (Loss) Per Share The Company has two classes of common stock. Accordingly, the Company utilizes the two-class method to determine its earnings per share, which results in different earnings per share for each of the classes. Under the two-class method, earnings per share of each class of common stock are computed by dividing the sum of the distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares for each class of common stock for the respective period. The distributed earnings to Class T Share common stockholders represents distributions declared less the distribution and stockholder servicing fees. Diluted income (loss) per share considers the effect of any potentially dilutive share equivalents, of which the Company had none for the years ended December 31, 2016 , 2015 or 2014 .
Offering and Related Costs	Offering and Related Costs CR V Advisors funds all of the organization and offering costs on the Company’s behalf (excluding selling commissions and dealer manager fees) and may be reimbursed for such costs up to 2.0% of aggregate gross proceeds from the Offering. As of December 31, 2016 , CR V Advisors had paid organization and offering costs in excess of the 2.0% in connection with the Offering. These excess costs were not included in the financial statements of the Company because such costs were not a liability of the Company as they exceeded 2.0% of aggregate gross proceeds from the Offering. As the Company raises additional proceeds from the Offering, these excess costs may become payable. When recorded by the Company, organization costs are expensed as incurred, and offering costs, which include items such as legal and accounting fees, marketing, personnel, promotional and printing costs, are recorded as a reduction of capital in excess of par value along with selling commissions, dealer manager fees and distribution and stockholder servicing fees in the period in which they become payable.
Reportable Segment	Reportable Segment The Company’s commercial real estate investments consist of income-producing necessity retail properties that are primarily single-tenant or anchored shopping centers, which are leased to creditworthy tenants under long-term net leases. The commercial properties are geographically diversified throughout the United States and have similar economic characteristics. The Company’s management evaluates operating performance on an overall portfolio level; therefore, the Company’s properties are one reportable segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by various standard setting bodies that may have an impact on the Company’s accounting and reporting. Except as otherwise stated below, the Company is currently evaluating the effect that certain of these new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements: Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, as amended (“ASU 2014-09”) — The requirements were amended to remove inconsistencies in revenue requirements and to provide a more complete framework for addressing revenue issues across a broad range of industries and transaction types. The revised standard’s core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised standard also clarifies that an entity should evaluate whether it is the principal or the agent for each specified good or service promised in a contract to a customer. These provisions are effective January 1, 2018, and are to be applied retrospectively, with early adoption permitted for periods beginning after December 15, 2016 and interim periods thereafter. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. The Company is currently assessing the adoption methodology. In accordance with the Company’s plan for the adoption of ASU 2014-09, the Company’s implementation team has identified the Company’s revenue streams and is performing an in-depth review of the Company’s revenue contracts to identify the related performance obligations and to evaluate the impact on the Company’s consolidated financial statements and internal accounting processes and controls. As the majority of the Company’s revenue is derived from real estate lease contracts, as discussed in relation to ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”), the Company does not expect that the adoption of ASU 2014-09 or related amendments and modifications issued by the Financial Accounting Standards Board (the “FASB”) will have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, which replaces the existing guidance in Accounting Standards Codification 840, Leases (Topic 842) . ASU 2016-02 requires a dual approach for lessee accounting under which a lessee would account for leases as either finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. For finance leases, the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. The provisions of ASU 2016-02 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. A modified retrospective approach is required for existing leases that have not expired upon adoption. Early adoption is permitted. The Company’s implementation team is developing an inventory of all leases, as well as identifying any non-lease components in the lease arrangements. ASU No. 2016-01, Financial Instruments (Subtopic 825-10) — The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income (loss), the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the consolidated balance sheets or the accompanying notes to the consolidated financial statements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. ASU No. 2016-05, Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (“ASU 2016-05”) — The amendments in this update clarify that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship, provided that all other hedge accounting criteria continue to be met. These provisions are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. The Company plans to adopt ASU 2016-05 prospectively and will consider for any future novations. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13”). ASU 2016-13 requires more timely recording of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets and eliminates the “incurred loss” methodology in current GAAP. ASU 2016-13 is effective for fiscal years, and interim periods within, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which is intended to address diversity in practice related to how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in ASU 2016-15 address eight specific cash flow issues as well as application of the predominance principle (dependence on predominant source or use of receipt or payment) and are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. ASU 2016-15 requires retrospective adoption unless it is impracticable to apply, in which case it is to be applied prospectively as of the earliest date practicable. The Company plans to adopt ASU 2016-15 during the fourth quarter of fiscal year 2017. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should now be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. The amendments in ASU 2016-18 are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within. Early adoption is permitted and is required to be applied prospectively to any transactions occurring within the period of adoption. The Company plans to adopt ASU 2017-01 during the first quarter of fiscal year 2017 and expects that most future acquisitions (or disposals) will qualify as asset acquisitions (or disposals). As such, future acquisition related expenses associated with these asset acquisitions will be capitalized.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Investment in and valuation of real estate	The estimated useful lives of the Company’s real estate assets by class are generally as follows: Buildings 40 years Tenant improvements Lesser of useful life or lease term Intangible lease assets Lease term

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Liabilities Measured on Recurring Basis	In accordance with the fair value hierarchy described above, the following tables show the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of December 31, 2016 and 2015 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2016 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swap $ 238 $ — $ 238 $ — Financial liability: Interest rate swap $ (634 ) $ — $ (634 ) $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2015 (Level 1) (Level 2) (Level 3) Financial liability: Interest rate swap $ (1,133 ) $ — $ (1,133 ) $ —

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the purchase price allocation for the 2016 Acquisitions (in thousands): December 31, 2016 Land $ 7,441 Buildings and improvements 18,411 Acquired in-place leases (1) 1,762 Total purchase price $ 27,614 ______________________ (1) The weighted average amortization period for acquired in-place leases was 11.7 years for the 2016 Acquisitions. The following table summarizes the purchase price allocation for the 2015 Acquisitions (in thousands): December 31, 2015 Land $ 19,395 Buildings and improvements 58,658 Acquired in-place leases (1) 7,974 Acquired above-market leases (2) 1,360 Intangible lease liabilities (3) (961 ) Total purchase price $ 86,426 _________________________________ (1) The weighted average amortization period for acquired in-place leases was 12.8 years for the 2015 Acquisitions. (2) The weighted average amortization period for acquired above-market leases was 10.5 years for the 2015 Acquisitions. (3) The weighted average amortization period for intangible lease liabilities was 9.8 years for the 2015 Acquisitions. The following table summarizes the purchase price allocation for the 2014 Acquisitions (in thousands): December 31, 2014 Land $ 87,406 Buildings and improvements 258,912 Acquired in-place leases (1) 36,433 Acquired above-market leases (2) 5,929 Intangible lease liabilities (3) (3,870 ) Fair value adjustment of assumed notes payable (994 ) Total purchase price $ 383,816 ______________________ (1) The weighted average amortization period for acquired in-place leases was 13.8 years for the 2014 Acquisitions. (2) The weighted average amortization period for acquired above-market leases was 14.7 years for the 2014 Acquisitions. (3) The weighted average amortization period for intangible lease liabilities was 9.9 years for the 2014 Acquisitions.
Business Acquisition, Pro Forma Information	The table below presents the Company’s estimated revenue and net income (loss), on a pro forma basis, for the years ended December 31, 2015 and 2014 (in thousands): Year Ended Period from March 18, 2014 to December 31, 2015 December 31, 2014 Pro forma basis (unaudited): Revenue $ 37,719 $ 11,385 Net income (loss) $ 407 $ (10,385 ) The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the year ended December 31, 2014 (in thousands): Period from March 18, 2014 to December 31, 2014 Pro forma basis (unaudited): Revenue $ 34,477 Net income $ 9,141 The table below presents the Company’s estimated revenue and net loss, on a pro forma basis, for the years ended December 31, 2016 and 2015 (in thousands): Year Ended Year Ended December 31, 2016 December 31, 2015 Pro forma basis (unaudited): Revenue $ 40,741 $ 37,646 Net loss $ (606 ) $ (3,080 )

Intangible Lease Assets (Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-lived Intangible Assets	Intangible lease assets consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2016 2015 In-place leases, net of accumulated amortization of $8,950 and $4,780, respectively (with a weighted average life remaining of 11.5 years and 12.5 years, respectively) $ 37,251 $ 39,632 Acquired above-market leases, net of accumulated amortization of $1,684 and $899, respectively (with a weighted average life remaining of 11.9 years and 12.8 years, respectively) 5,578 6,390 $ 42,829 $ 46,022
Schedule of Finite-lived Intangible Assets, Future Amortization Expense	Estimated amortization expense related to the intangible lease assets as of December 31, 2016 for each of the five succeeding fiscal years is as follows (in thousands): Amortization Year Ending December 31, In-Place Leases Above-Market Leases 2017 $ 4,046 $ 772 2018 $ 3,767 $ 623 2019 $ 3,445 $ 482 2020 $ 3,235 $ 428 2021 $ 3,173 $ 411

Derivative Instruments and He31

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the terms of the Company’s executed interest rate swap agreements designated as hedging instruments as of December 31, 2016 and 2015 (in thousands): Outstanding Notional Amount as of December 31, 2016 Interest Rate (1) Effective Date Maturity Date Fair Value of Assets and (Liabilities) as of December 31, Balance Sheet Location 2016 2015 Interest Rate Swap Property escrow deposits, derivative assets, prepaid expenses and other assets $ 21,100 3.49% 1/15/2016 2/1/2021 $ 238 $ — Interest Rate Swap Deferred rental income, derivative liabilities and other liabilities $ 120,000 4.02% 12/31/2015 4/25/2019 $ (634 ) $ (1,133 ) _____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2016 .

Notes Payable and Credit Faci32

Notes Payable and Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the debt balances as of December 31, 2016 and 2015 , and the debt activity for the year ended December 31, 2016 (in thousands): During The Year Ended December 31, 2016 Balance as of December 31, 2015 Debt Issuance, (1) Repayments Accretion and (Amortization) Balance as of December 31, 2016 Credit facility $ 201,500 $ 31,000 $ (112,500 ) — $ 120,000 Fixed rate debt 67,750 67,600 — — 135,350 Line of credit with affiliate 20,000 — (20,000 ) — — Total debt $ 289,250 $ 98,600 $ (132,500 ) $ — $ 255,350 Net premiums (2) 511 — — (403 ) 108 Deferred costs (3) (1,298 ) (679 ) — 437 (1,540 ) Total debt, net $ 288,463 $ 97,921 $ (132,500 ) $ 34 $ 253,918 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Net premiums on mortgage notes payable were recorded upon the assumption of the respective debt instruments. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method. (3) Deferred costs relate to mortgage notes payable and the term portion of the credit facility
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt as of December 31, 2016 for each of the five succeeding fiscal years and the period thereafter (in thousands): Year Ending December 31, Principal Repayments 2017 $ 42,750 2018 — 2019 120,000 2020 388 2021 68,009 Thereafter 24,203 Total $ 255,350

Intangible Lease Liabilities (T

Intangible Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Intangible Liabilities Disclosure [Abstract]
Schedule of Finite-lived Intangible Liabilities	Intangible lease liabilities consisted of the following (in thousands, except weighted average life remaining amounts): As of December 31, 2016 2015 Acquired below-market lease intangibles, net of accumulated amortization of $1,123 and $582, respectively, (with a weighted average life remaining of 8.1 years and 9.0 years, respectively) $ 3,708 $ 4,249
Schedule of Finite-lived Intangible Assets, Future Amortization Expense	Estimated amortization of the intangible lease liabilities as of December 31, 2016 for each of the five succeeding fiscal years is as follows (in thousands): Year Ending December 31, Amortization of Below-Market Leases 2017 $ 533 2018 $ 527 2019 $ 487 2020 $ 412 2021 $ 393

Supplemental Cash Flow Disclo34

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow disclosures for the years ended December 31, 2016 , 2015 and 2014 are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Common stock issued through distribution reinvestment plan $ 8,597 $ 6,701 $ 1,471 Distributions declared and unpaid $ 1,663 $ 1,218 $ 929 Accrued distribution and stockholder servicing fees, dealer manager fees and other offering costs $ 306 $ 20 $ 76 Change in fair value of interest rate swaps $ 737 $ (1,133 ) $ — Fair value of mortgage notes assumed in real estate acquisitions at date of assumption $ — $ — $ 43,744 Escrow deposits due to affiliate on acquired real estate assets $ — $ — $ 1,271 Supplemental Cash Flow Disclosures: Interest paid $ 10,973 $ 9,528 $ 1,265

Related-Party Transactions an35

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule of related party transactions	The Company incurred commissions, fees and expense reimbursements as shown in the table below for services provided by CR V Advisors and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2016 2015 2014 Selling commissions $ 4,691 $ 3,261 $ 11,532 Dealer manager fees $ 1,642 $ 1,024 $ 3,402 Other organization and offering expenses $ 1,816 $ 1,177 $ 3,475 Distribution and stockholder servicing fees $ 16 (1 ) $ — $ — Acquisition fees and expenses (2) $ 690 $ 2,167 $ 9,631 Advisory fees and expenses (2) $ 4,841 $ 3,973 $ 751 Operating expenses (2) $ 2,035 $ 1,721 $ 344 ______________________ (1) Amounts are calculated for the respective period in accordance with the dealer manager agreement and exclude the estimated liability for future distribution and stockholder servicing fees payable to CCC of $306,000 , which is included in due to affiliates in the consolidated balance sheets with a corresponding decrease to capital in excess of par value, as described in Note 2 — Summary of Significant Accounting Policies. (2) During the years ended December 31, 2015 and 2014 , CR V Advisors permanently waived its rights to expense reimbursements totaling $250,000 and $773,000 , respectively, which amounts are excluded from the table above as the Company is not responsible for these sums. No expense reimbursements were waived during the year ended December 31, 2016 .

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Dividends and Distributions	The following table shows the character of the distributions paid on a percentage basis for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, Character of Distributions (Unaudited): 2016 2015 2014 Ordinary dividends 10.5 % 33.6 % 32.2 % Nondividend distributions 89.5 % 66.4 % 67.8 % Total 100.0 % 100.0 % 100.0 %

Operating Leases Operating Leas

Operating Leases Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases, assuming no exercise of renewal options, as of December 31, 2016 , was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2017 $ 34,637 2018 34,055 2019 33,407 2020 32,556 2021 31,906 Thereafter 222,661 Total $ 389,222

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 and 2015 (in thousands, except for per share amounts). In the opinion of management, the information for the interim periods presented includes all adjustments, which are of a normal and recurring nature, necessary to present a fair presentation of the results for each period. December 31, 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 9,767 $ 10,445 $ 10,041 $ 10,185 Acquisition-related fees and expenses $ 1,250 $ 24 $ 2 $ 10 Operating income $ 1,783 $ 3,017 $ 3,026 $ 3,267 Net (loss) income $ (1,315 ) $ (39 ) $ (20 ) $ 189 Basic and diluted net (loss) income per share - Class A common stock (1) $ (0.13 ) $ (0.00 ) $ (0.00 ) $ 0.02 Distributions declared per common share - Class A common stock $ 0.391 $ 0.392 $ 0.396 $ 0.396 Basic and diluted net loss per share - Class T common stock (1), (2) $ — $ (0.05 ) $ (0.05 ) $ (0.04 ) Distributions declared per common share - Class T common stock (2) $ — $ 0.219 $ 0.396 $ 0.396 _______________________________________________________ (1) The sum of the quarterly net income (loss) per share amounts does not agree to the full year net loss per share amounts. The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters. (2) In connection with Post-effective Amendment No. 3 to the Company’s Registration Statement, which was declared effective by the SEC on April 29, 2016, the Company began offering up to $1,125,000,000 , of the $2.5 billion in shares that make up the primary portion of the Offering, in Class T Shares, along with up to $1,375,000,000 in Class A Shares. December 31, 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 8,070 $ 8,617 $ 9,144 $ 9,785 Acquisition-related fees and expenses $ 1,726 $ 684 $ 511 $ 87 Operating income $ 1,072 $ 2,054 $ 2,479 $ 2,716 Net (loss) income $ (1,253 ) $ (510 ) $ (479 ) $ 167 Basic and diluted net (loss) income per share - Class A common stock (1) $ (0.18 ) $ (0.07 ) $ (0.06 ) $ 0.02 Distributions declared per common share - Class A common stock $ 0.388 $ 0.393 $ 0.397 $ 0.397 __________________________________________________ (1) The sum of the quarterly net income (loss) per share amounts does not agree to the full year net loss per share amounts. The Company calculates net income (loss) per share based on the weighted-average number of outstanding shares of common stock during the reporting period. The average number of shares fluctuates throughout the year and can therefore produce a full year result that does not agree to the sum of the individual quarters.

Organization and Business (Offe

Organization and Business (Offerings) (Details)	Dec. 22, 2016USD ($)	Mar. 18, 2014USD ($)shares	Feb. 07, 2014USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Mar. 24, 2017$ / shares	Apr. 29, 2016USD ($)$ / shares	Apr. 11, 2016$ / shares	Mar. 31, 2016$ / shares	Feb. 29, 2016$ / shares	Mar. 17, 2014USD ($)
Class of Stock [Line Items]
Reverse stock split, conversion ratio			2.5
Common stock outstanding (shares) | shares			8,000
Proceeds from issuance of common stock				$ 81,430,000	$ 51,169,000	$ 172,272,000
Net asset value per share | $ / shares				$ 24			$ 24					$ 24
Due to affiliates				$ 1,342,000	1,076,000		$ 1,342,000
Issuance of common stock	$ 1,200,000,000			$ 90,027,000	$ 57,870,000	173,743,000
CCPT IV OP
Class of Stock [Line Items]
General partner partnership interest percentage				100.00%
Initial public offering
Class of Stock [Line Items]
Common stock authorized			$ 2,500,000,000						$ 2,500,000,000				$ 2,975,000,000
Share price (USD per share) | $ / shares										$ 26.37
Issuance of common stock (shares) | shares		110,000
Common stock outstanding (shares) | shares				12,900,000			12,900,000
Proceeds from issuance of common stock							$ 321,600,000
Offering costs, selling commissions, and dealer management fees							$ 32,000,000
Issuance of common stock		$ 2,500,000
Distribution reinvestment plan
Class of Stock [Line Items]
Common stock authorized			475,000,000
Share price (USD per share) | $ / shares										24
Issuance of common stock	$ 300,000,000
Common Class A
Class of Stock [Line Items]
Common stock outstanding (shares) | shares				12,327,579	9,292,168		12,327,579
Common Class A | Initial public offering
Class of Stock [Line Items]
Common stock authorized			$ 2,500,000,000						$ 1,375,000,000
Share price (USD per share) | $ / shares			$ 25						$ 26.37
Proceeds from issuance of common stock							$ 313,500,000
Common Class A | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (USD per share) | $ / shares									$ 24	24	$ 23.75
Net asset value per share | $ / shares				$ 24			$ 24
Common Class T
Class of Stock [Line Items]
Common stock outstanding (shares) | shares				321,223	0		321,223
Common Class T | Initial public offering
Class of Stock [Line Items]
Common stock authorized									$ 1,125,000,000
Share price (USD per share) | $ / shares									$ 25.26
Proceeds from issuance of common stock							$ 8,100,000
Net asset value per share | $ / shares									24
Common Class T | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (USD per share) | $ / shares									$ 24	$ 24
Subsequent Event | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (USD per share) | $ / shares								$ 24
Subsequent Event | Common Class A
Class of Stock [Line Items]
Share price (USD per share) | $ / shares								26.37
Subsequent Event | Common Class T
Class of Stock [Line Items]
Share price (USD per share) | $ / shares								$ 25.26
Advisors | Distribution and stockholder servicing fees
Class of Stock [Line Items]
Expenses from transactions with related parties				$ 16,000	$ 0	$ 0
Due to affiliates				$ 306,000			$ 306,000

Organization and Business (Real

Organization and Business (Real Estate Property) (Details) ft² in Millions	Dec. 31, 2016ft²statesproperty
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of owned properties (property) | property	116
Rentable square feet (sq_ft) | ft²	2.5
Number of states in which entity owns properties (state) | states	31
Percentage of rentable space leased (percent)	98.80%

Summary of Significant Accoun41

Summary of Significant Accounting Policies (Real Estate Investments) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Impairment of real estate	$ 0	$ 0	$ 0
Real estated held for sale	$ 0	$ 0
Building
Real Estate Properties [Line Items]
Acquired real estate asset, useful life	40 years

Summary of Significant Accoun42

Summary of Significant Accounting Policies (Restricted Cash and Escrows and Cash Concentrations) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 94	$ 354
Lender Cash Management Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 94	350
Escrowed Investor Proceeds
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 4

Summary of Significant Accoun43

Summary of Significant Accounting Policies (Deferred Financing Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Deferred costs, net	$ 1,540	$ 1,298
Secured Revolving Credit Facility | Revolving credit facility | Line of credit
Debt Instrument [Line Items]
Deferred costs, net	$ 296	$ 997

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Distribution and Stockholder Servicing Fees) (Details)	Oct. 04, 2016	Dec. 31, 2016	Oct. 04, 2016
Advisors | Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of gross proceeds from shares in offering (percent)		10.00%
Common Class T
Related Party Transaction [Line Items]
Net asset value, daily accrual rate	0.00219%	0.00274%
Common Class T | Advisors
Related Party Transaction [Line Items]
Net asset value, daily accrual rate		0.00274%	0.00219%
Common Class T | Advisors | Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of gross proceeds from shares in offering (percent)		4.00%

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Revenue recognition and Earnings (Loss) per share (Details)	12 Months Ended
	Dec. 31, 2016USD ($)class_of_stockshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014shares
Accounting Policies [Abstract]
Allowance for doubtful accounts | $	$ 1,000	$ 0
Classes of common stock | class_of_stock	2
Potentially dilutive share equivalents (shares) | shares	0	0	0

Summary of Significant Accoun46

Summary of Significant Accounting Policies (Offering and related costs) (Details)	Dec. 31, 2016
Maximum | Advisors | Other organization and offering expenses
Related Party Transaction [Line Items]
Organization and offering expense	2.00%

Summary of Significant Accoun47

Summary of Significant Accounting Policies (Reportable segments) (Details)	12 Months Ended
	Dec. 31, 2016segment
Accounting Policies [Abstract]
Number of reportable segments (segment)	1

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Estimate of fair value | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	$ 256.4	$ 290.8
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	$ 255.4	$ 289.3

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value, Liabilities Measured on Recurring Basis) (Details) - Interest Rate Swap - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	$ 238
Interest rate swap	(634)	$ (1,133)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	0
Interest rate swap	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	238
Interest rate swap	(634)	(1,133)
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	0
Interest rate swap	$ 0	$ 0

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)property	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property
Business Acquisition [Line Items]
Number of Real Estate Properties | property	116								116
Acquisition-related fees and expenses	$ 10	$ 2	$ 24	$ 1,250	$ 87	$ 511	$ 684	$ 1,726	$ 1,286	$ 3,008	$ 11,955
Acquisitions, 2016
Business Acquisition [Line Items]
Number of businesses acquired (property) | property									4
Aggregate purchase price									$ 27,600
Revenue of acquiree since acquisition date									1,700
Loss of acquiree since acquisition date									(333)
Acquisition-related fees and expenses									$ 1,200
Acquisitions, 2015
Business Acquisition [Line Items]
Number of businesses acquired (property) | property										33
Aggregate purchase price										$ 86,400
Revenue of acquiree since acquisition date										4,700
Loss of acquiree since acquisition date										(1,100)
Acquisition-related fees and expenses										$ 3,000
Acquisitions, 2014
Business Acquisition [Line Items]
Number of businesses acquired (property) | property											79
Aggregate purchase price											$ 383,800
Revenue of acquiree since acquisition date											6,100
Loss of acquiree since acquisition date											(12,100)
Acquisition-related fees and expenses											$ 12,000
Acquired in-place leases | Acquisitions, 2016
Business Acquisition [Line Items]
Weighted average amortization period									11 years 8 months 11 days
Acquired in-place leases | Acquisitions, 2015
Business Acquisition [Line Items]
Weighted average amortization period										12 years 9 months 18 days
Acquired in-place leases | Acquisitions, 2014
Business Acquisition [Line Items]
Weighted average amortization period											13 years 9 months 18 days
Acquired above-market leases | Acquisitions, 2015
Business Acquisition [Line Items]
Weighted average amortization period										10 years 6 months
Acquired above-market leases | Acquisitions, 2014
Business Acquisition [Line Items]
Weighted average amortization period											14 years 8 months 12 days
Intangible lease liabilities | Acquisitions, 2015
Business Acquisition [Line Items]
Weighted average amortization period										9 years 9 months 18 days
Intangible lease liabilities | Acquisitions, 2014
Business Acquisition [Line Items]
Weighted average amortization period											9 years 10 months 24 days

Real Estate Investments (Purcha

Real Estate Investments (Purchase price allocation) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquisitions, 2016
Business Acquisition, Purchase Price Allocation [Abstract]
Land	$ 7,441
Buildings and improvements	18,411
Total purchase price	27,614
Acquisitions, 2016 | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases	$ 1,762
Acquisitions, 2015
Business Acquisition, Purchase Price Allocation [Abstract]
Land		$ 19,395
Buildings and improvements		58,658
Total purchase price		86,426
Acquisitions, 2015 | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases		7,974
Acquisitions, 2015 | Acquired above-market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases		1,360
Acquisitions, 2015 | Intangible lease liabilities
Business Acquisition, Purchase Price Allocation [Abstract]
Intangible lease liabilities		$ (961)
Acquisitions, 2014
Business Acquisition, Purchase Price Allocation [Abstract]
Land			$ 87,406
Buildings and improvements			258,912
Fair value adjustment of assumed notes payable			(994)
Total purchase price			383,816
Acquisitions, 2014 | Acquired in-place leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases			36,433
Acquisitions, 2014 | Acquired above-market leases
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place and above market leases			5,929
Acquisitions, 2014 | Intangible lease liabilities
Business Acquisition, Purchase Price Allocation [Abstract]
Intangible lease liabilities			$ (3,870)

Real Estate Investments (Pro fo

Real Estate Investments (Pro forma basis) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Acquisitions, 2016
Pro forma basis (unaudited)
Revenue		$ 40,741	$ 37,646
Net loss		$ (606)	(3,080)
Acquisitions, 2015
Pro forma basis (unaudited)
Revenue	$ 11,385		37,719
Net loss	(10,385)		$ 407
Acquisitions, 2014
Pro forma basis (unaudited)
Revenue	34,477
Net loss	$ 9,141

Real Estate Investments (Escrow

Real Estate Investments (Escrowed Funds for Acquisition of Real Estate Investment) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)property
Arpo, LLC Portfolio
Business Acquisition [Line Items]
Number of properties acquired (property) | property	14
Number of businesses acquired (property) | property	13
Arpo, LLC Portfolio, One Property
Business Acquisition [Line Items]
Payment to acquire final property in portfolio | $	$ 5.9
Escrow deposit | $	$ 5.9

Real Estate Investments (Proper

Real Estate Investments (Property Concentrations) (Details)	12 Months Ended
	Dec. 31, 2016tenantproperty
Concentration Risk [Line Items]
Number of owned properties (property)	116
Customer Concentration Risk | Sales Revenue, Services, Net
Concentration Risk [Line Items]
Number of tenants (tenants) | tenant	2
Customer Concentration Risk | Sales Revenue, Services, Net | Drugstore industry
Concentration Risk [Line Items]
Concentration risk, percentage	19.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Discount Store Industry
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Convenience Store Industry
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Sporting Good Industry
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Walgreens:
Concentration Risk [Line Items]
Concentration risk, percentage	18.00%
Customer Concentration Risk | Sales Revenue, Services, Net | United Oil:
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Geographic Concentration Risk | Sales Revenue, Services, Net | TEXAS
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Number of owned properties (property)	8
Geographic Concentration Risk | Sales Revenue, Services, Net | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Number of owned properties (property)	13
Geographic Concentration Risk | Sales Revenue, Services, Net | INDIANA
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Number of owned properties (property)	9
Geographic Concentration Risk | Sales Revenue, Services, Net | LOUISIANA
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Number of owned properties (property)	7

Intangible Lease Assets (Schedu

Intangible Lease Assets (Schedule of Finite-lived Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets, Net [Abstract]
Acquired intangible lease assets	$ 42,829	$ 46,022
In-place leases
Finite-Lived Intangible Assets, Net [Abstract]
Acquired intangible lease assets	37,251	39,632
Accumulated amortization of intangible lease assets	$ 8,950	$ 4,780
Finite-lived intangible asset, useful life	11 years 6 months	12 years 6 months
Amortization of intangible assets	$ 4,200	$ 4,000	$ 735
Above market leases
Finite-Lived Intangible Assets, Net [Abstract]
Acquired intangible lease assets	5,578	6,390
Accumulated amortization of intangible lease assets	$ 1,684	$ 899
Finite-lived intangible asset, useful life	11 years 10 months 18 days	12 years 9 months 18 days
Amortization of intangible assets	$ 799	$ 811	$ 88

Intangible Lease Assets (Sche56

Intangible Lease Assets (Schedule of Finite-lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2016USD ($)
In-place leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	$ 4,046
2,018	3,767
2,019	3,445
2,020	3,235
2,021	3,173
Above market leases
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	772
2,018	623
2,019	482
2,020	428
2,021	$ 411

Derivative Instruments and He57

Derivative Instruments and Hedging Activities (Details)	12 Months Ended
	Dec. 31, 2016USD ($)derivative	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of derivatives held (derivative) | derivative	2
Derivatives, Fair Value [Line Items]
Number of instruments entered into | derivative	1
Amounts reclassified from other comprehensive (loss) income into income as interest expense	$ 1,508,000	$ 4,000	$ 0
Estimate of additional amounts to be reclassified during next twelve months	808,000
Cash Flow Hedging | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative liability, event of default, termination amount	643,000
Cash Flow Hedging | Interest Rate Swap | Property escrow deposits, derivative assets, prepaid expenses and other assets
Derivatives, Fair Value [Line Items]
Notional amount	$ 21,100,000
Interest rate (percent)	3.49%
Fair value of assets	$ 238,000	0
Cash Flow Hedging | Interest Rate Swap | Deferred rental income, derivative liabilities and other liabilities
Derivatives, Fair Value [Line Items]
Notional amount	$ 120,000,000
Interest rate (percent)	4.02%
Fair value of liabilities	$ (634,000)	$ (1,133,000)

Notes Payable and Credit Faci58

Notes Payable and Credit Facility (Schedule of debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Debt instrument, weighted average years to maturity	3 years 1 month 10 days
Debt, weighted average interest rate (percent)	4.30%
Debt [Roll Forward]
Debt, gross, beginning balance	$ 289,250
Net premiums, beginning balance	511
Deferred costs, beginning balance	(1,298)
Total debt, net, beginning balance	288,463
Debt Issuance	98,600	$ 67,500	$ 186,153
Deferred costs incurred	(679)
Debt Issuance, Net	97,921
Repayments	(132,500)
Amortization of premium	(403)
Amortization of deferred financing costs	437
Accretion and (Amortization)	34
Debt, gross, ending balance	255,350	289,250
Net premiums, ending balance	108	511
Deferred costs, ending balance	(1,540)	(1,298)
Total debt, net, ending balance	253,918	288,463
Line of credit
Debt [Roll Forward]
Debt, gross, beginning balance	201,500
Debt Issuance	31,000
Repayments	(112,500)
Debt, gross, ending balance	120,000	201,500
Fixed Rate Debt
Debt [Roll Forward]
Debt, gross, beginning balance	67,750
Debt Issuance	67,600
Repayments	0
Debt, gross, ending balance	135,350	67,750
Affiliated entity | Line of credit
Debt [Roll Forward]
Debt, gross, beginning balance	20,000
Debt Issuance	0
Repayments	(20,000)
Debt, gross, ending balance	$ 0	$ 20,000

Notes Payable and Credit Faci59

Notes Payable and Credit Facility (Fixed rate debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt, gross	$ 255,350	$ 289,250
Fixed Rate Debt
Debt Instrument [Line Items]
Long-term debt, gross	135,350	$ 67,750
Debt instrument, face amount	42,800
Debt instrument, fair value	43,700
Value of collateral securing debt outstanding	$ 208,800
Fixed Rate Debt | Minimum
Debt Instrument [Line Items]
Stated interest rate, minimum (percent)	3.49%
Fixed Rate Debt | Maximum
Debt Instrument [Line Items]
Stated interest rate, minimum (percent)	5.66%
Interest Rate Swap | Variable Rate Debt [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 21,100

Notes Payable and Credit Faci60

Notes Payable and Credit Facility (Credit facility) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt, weighted average interest rate (percent)	4.30%
Long-term debt, gross	$ 255,350,000	$ 289,250,000
Line of credit
Debt Instrument [Line Items]
Long-term debt, gross	120,000,000	201,500,000
JPMorgan Chase Bank, N.A. | Line of credit
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	300,000,000
Line of credit facility, remaining borrowing capacity	180,000,000
Line of credit facility, covenant, minimum consolidated net worth	$ 150,000,000
Line of credit facility, covenant, minimum consolidated net worth, percentage of equity issuance	75.00%
JPMorgan Chase Bank, N.A. | Line of credit | Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.50%
JPMorgan Chase Bank, N.A. | Line of credit | Statutory Reserve Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.00%
JPMorgan Chase Bank, N.A. | Revolving credit facility | Line of credit
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 180,000,000	$ 300,000,000
JPMorgan Chase Bank, N.A. | Term Loan | Line of credit
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	120,000,000
JPMorgan Chase Bank, N.A. | Interest Rate Swap | Term Loan | Line of credit
Debt Instrument [Line Items]
Long-term line of credit	$ 120,000,000
Debt, weighted average interest rate (percent)	4.02%
JPMorgan Chase Bank, N.A. | Minimum | Line of credit
Debt Instrument [Line Items]
Interest rate (percent)	0.90%
Debt instrument, covenant, fixed charge coverage ratio	1.50
JPMorgan Chase Bank, N.A. | Minimum | Line of credit | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.90%
JPMorgan Chase Bank, N.A. | Maximum | Line of credit
Debt Instrument [Line Items]
Interest rate (percent)	1.45%
JPMorgan Chase Bank, N.A. | Maximum | Line of credit | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.45%

Notes Payable and Credit Faci61

Notes Payable and Credit Facility (Affiliate line of credit) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Line of credit with affiliate	$ 255,350	$ 289,250
Line of credit
Line of Credit Facility [Line Items]
Line of credit with affiliate	120,000	201,500
Line of credit | Affiliated entity
Line of Credit Facility [Line Items]
Line of credit with affiliate	0	$ 20,000
Line of credit maximum borrowing capacity	$ 60,000

Notes Payable and Credit Faci62

Notes Payable and Credit Facility (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,017	$ 42,750
2,018	0
2,019	120,000
2,020	388
2,021	68,009
Thereafter	24,203
Total	$ 255,350	$ 289,250

Intangible Lease Liabilities (D

Intangible Lease Liabilities (Details) - Intangible lease liabilities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Liabilities, Net [Abstract]
Acquired below-market leases, net of accumulated amortization	$ 3,708	$ 4,249
Accumulated amortization	$ 1,123	$ 582
Useful life	8 years 1 month	9 years
Amortization of intangible liabilities	$ 541	$ 535	$ 47
Finite-Lived Intangible Liabilities, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	533
2,018	527
2,019	487
2,020	412
2,021	$ 393

Supplemental Cash Flow Disclo64

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Common stock issued through distribution reinvestment plan	$ 8,597	$ 6,701	$ 1,471
Distributions declared and unpaid	1,663	1,218	929
Accrued distribution and stockholder servicing fees, dealer manager fees and other offering costs	306	20	76
Change in fair value of interest rate swaps	737	(1,133)	0
Fair value of mortgage notes assumed in real estate acquisitions at date of assumption	0	0	43,744
Escrow deposits due to affiliate on acquired real estate assets	0	0	1,271
Supplemental Cash Flow Disclosures:
Interest paid	$ 10,973	$ 9,528	$ 1,265

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Other Commitments [Line Items]
Escrow deposits due to affiliate on acquired real estate assets	$ 0	$ 0	$ 1,271
Retail Property Purchase Agreement
Other Commitments [Line Items]
Interest in retail property to be acquired (percent)	100.00%
Number of Purchase Commitments | property	1
Purchase price on retail property purchase agreement	$ 9,700
Escrow deposits due to affiliate on acquired real estate assets	$ 284

Related Party Transactions and

Related Party Transactions and Arrangements (Selling commissions and dealer manager fees) (Details) - Dealer manager	Dec. 31, 2016
Selling commissions
Related Party Transaction [Line Items]
Expense reallowed	100.00%
Dealer manager fee
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	2.00%
Common Class A | Selling commissions
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	7.00%
Common Class T | Selling commissions
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	3.00%

Related Party Transactions an67

Related Party Transactions and Arrangements (Other organization and offering expenses) (Details)	Dec. 31, 2016
Advisor | Other organization and offering expenses
Related Party Transaction [Line Items]
Related party expense from transaction, percent of gross proceeds	2.00%

Related Party Transactions an68

Related Party Transactions and Arrangements (Distribution and stockholder servicing fees) (Details)	Oct. 04, 2016	Dec. 31, 2016	Oct. 04, 2016
Advisors | Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of total gross investment (percent)		4.00%
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of gross proceeds from shares in offering (percent)		10.00%
Common Class T
Related Party Transaction [Line Items]
Net asset value, daily accrual rate	0.00219%	0.00274%
Common Class T | Advisors
Related Party Transaction [Line Items]
Net asset value, daily accrual rate		0.00274%	0.00219%
Common Class T | Advisors | Distribution and stockholder servicing fees
Related Party Transaction [Line Items]
Related party transaction, daily distribution and servicing fee, termination of payments threshold, percentage of gross proceeds from shares in offering (percent)		4.00%

Related Party Transactions an69

Related Party Transactions and Arrangements (Acquisition fees and expenses) (Details) - Maximum - Advisors	Dec. 31, 2016
Acquisition Fees and Expenses
Related Party Transaction [Line Items]
Expenses from transactions with related party, percent of contract price (percent)	6.00%
Acquisition Fee
Related Party Transaction [Line Items]
Expenses from transactions with related party, percent of contract price (percent)	2.00%
Acquisition Related Expenses
Related Party Transaction [Line Items]
Reimbursement fixed annual percentage of the contract purchase price (percent)	0.50%
Related party, reimbursement fixed annual percentage of loan advanced or other investment (percent)	0.50%

Related Party Transactions an70

Related Party Transactions and Arrangements (Advisory fees and expenses) (Details) - Advisors	Dec. 31, 2016USD ($)
Average invested assets between $0 to $2 billion | Advisory Fee
Related Party Transaction [Line Items]
Related party transaction, expense from transactions with related party, percentage of average invested assets (percent)	0.75%
Average invested assets between $2 billion to $4 billion | Advisory Fee
Related Party Transaction [Line Items]
Related party transaction, expense from transactions with related party, percentage of average invested assets (percent)	0.70%
Average invested assets over $4 billion | Advisory Fee
Related Party Transaction [Line Items]
Related party transaction, expense from transactions with related party, percentage of average invested assets (percent)	0.65%
Minimum | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Average invested assets	$ 0
Minimum | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Minimum | Average invested assets over $4 billion
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Maximum | Average invested assets between $0 to $2 billion
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Maximum | Average invested assets between $2 billion to $4 billion
Related Party Transaction [Line Items]
Average invested assets	$ 4,000,000,000

Related Party Transactions an71

Related Party Transactions and Arrangements (Operating expenses) (Details) - Maximum - Advisors - Operating expenses	Dec. 31, 2016
Related Party Transaction [Line Items]
Operating expense reimbursement (percent)	2.00%
Operating expense reimbursement percent of net income (percent)	25.00%

Related Party Transactions an72

Related Party Transactions and Arrangements (Disposition fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property sales commission
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 0	$ 0	$ 0
Maximum | Disposition fee for sale of real estate
Related Party Transaction [Line Items]
Related party transaction, expense from transactions with related party, percent of brokerage commission	50.00%
Expenses from transactions with related party, percent of contract price (percent)	1.00%
Maximum | Brokerage commissions and disposition fees
Related Party Transaction [Line Items]
Expenses from transactions with related party, percent of contract price (percent)	6.00%
Maximum | Disposition fee for sale of asset
Related Party Transaction [Line Items]
Expenses from transactions with related party, percent of contract price (percent)	1.00%

Related Party Transactions an73

Related Party Transactions and Arrangements (Subordinated performance fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Cumulative noncompounded annual return (percent)	6.00%
Subordinated Performance Fees
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 0	$ 0	$ 0
Subordinate fees for listing
Related Party Transaction [Line Items]
Related party transaction, expense from transactions (percent)	15.00%
Subordinate performance fee in event of liquidation
Related Party Transaction [Line Items]
Related party transaction, expense from transactions (percent)	15.00%

Related Party Transactions an74

Related Party Transactions and Arrangements (Schedule of related party transactions) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Due to affiliates	$ 1,342,000	$ 1,076,000
Selling commissions | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	4,691,000	3,261,000	$ 11,532,000
Dealer manager fee | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	1,642,000	1,024,000	3,402,000
Other organization and offering expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	1,816,000	1,177,000	3,475,000
Distribution and stockholder servicing fees | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	16,000	0	0
Due to affiliates	306,000
Acquisition Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	690,000	2,167,000	9,631,000
Advisory Fees and Expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	4,841,000	3,973,000	751,000
Operating expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	2,035,000	1,721,000	344,000
Waived fees and expense reimbursements | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 0	$ 250,000	$ 773,000

Related Party Transactions an75

Related Party Transactions and Arrangements (Due to Affiliates and Transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Due to affiliates	$ 1,342	$ 1,076
Long-term debt, gross	255,350	289,250
Affiliated entity
Related Party Transaction [Line Items]
Related party, interest expense	111	484	$ 131
Interest Payable		42
Line of credit
Related Party Transaction [Line Items]
Long-term debt, gross	120,000	201,500
Line of credit | Affiliated entity
Related Party Transaction [Line Items]
Long-term debt, gross	$ 0	$ 20,000

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details)	Feb. 07, 2014shares	Jun. 19, 2013$ / sharesshares	Dec. 31, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares	Dec. 31, 2014shares	Dec. 31, 2013shares
Class of Stock [Line Items]
Common stock, shares authorized (shares)			490,000,000
Preferred stock, shares authorized (shares)			10,000,000	10,000,000
Common stock, par value (USD per share) | $ / shares			$ 0.01
Preferred stock, par value (USD per share) | $ / shares			$ 0.01	$ 0.01
Stock split, conversion ratio	2.5
Common stock outstanding (shares)	8,000
Common Stock
Class of Stock [Line Items]
Stock split, conversion ratio	2.5
Common Class A
Class of Stock [Line Items]
Common stock, shares authorized (shares)			245,000,000	245,000,000
Common stock, par value (USD per share) | $ / shares			$ 0.01	$ 0.01
Common stock outstanding (shares)			12,327,579	9,292,168
Common Class T
Class of Stock [Line Items]
Common stock, shares authorized (shares)			245,000,000	245,000,000
Common stock, par value (USD per share) | $ / shares			$ 0.01	$ 0.01
Common stock outstanding (shares)			321,223	0
Common Stock
Class of Stock [Line Items]
Issuance of common stock (shares)		20,000
Share price (USD per share) | $ / shares		$ 10
Common Stock | Common Class A
Class of Stock [Line Items]
Issuance of common stock (shares)			3,229,602	2,343,023	6,977,877
Common stock outstanding (shares)			12,327,579	9,292,168	6,985,877	8,000
Common Stock | Common Class T
Class of Stock [Line Items]
Issuance of common stock (shares)			321,223
Common stock outstanding (shares)			321,223	0	0	0

Stockholders' Equity (Distribut

Stockholders' Equity (Distribution Reinvestment Plan) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Apr. 29, 2016	Apr. 11, 2016	Mar. 31, 2016	Feb. 29, 2016
Class of Stock [Line Items]
Net asset value per share	$ 24						$ 24
Distribution reinvestment plan
Class of Stock [Line Items]
Share price (USD per share)					$ 24
Dividend reinvestment plan, termination notice period	10 days
Shares issued pursuant to a distribution reinvestment plan (shares)	359	282	62
Common stock issued through distribution reinvestment plan	$ 8.6	$ 6.7	$ 1.5
Common Class A | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (USD per share)				$ 24	24	$ 23.75
Net asset value per share	$ 24
Common Class T | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (USD per share)				$ 24	$ 24

Stockholders' Equity (Share Red

Stockholders' Equity (Share Redemption Program) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 24, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 29, 2016
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, required holding period		1 year
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding		1.25%
Stock redemption program, redemption price per share, percentage of amount paid per share, after one year		95.00%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after two year		97.50%
Stock redemption program, plan redemption price per share, percentage of amount paid per share, after three year		100.00%
Net asset value per share		$ 24			$ 24
Stock repurchase program, termination notice period		30 days
Redemptions of common stock (shares)		194,000	37,000	0
Redemptions of common stock		$ 4,624	$ 895
Maximum
Equity, Class of Treasury Stock [Line Items]
Stock redemption program, number of shares authorized to be repurchased, percentage of weighted average number of shares outstanding		5.00%
Stock redemption program, redemption priority, shares (shares)		250
Distribution reinvestment plan
Equity, Class of Treasury Stock [Line Items]
Redemption price, percentage of most recent per share NAV (percent)		100.00%
Redemptions of common stock				$ 0
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Redemptions of common stock (shares)	30,000
Redemptions of common stock	$ 692

Stockholders' Equity (Distrib79

Stockholders' Equity (Distributions payable and Distributions policy) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Mar. 24, 2017	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution		366 days
Distributions payable		$ 1,663		$ 1,218	$ 929
Subsequent Event
Class of Stock [Line Items]
Dividend, common stock and preferred stock, number of days in the calendar year for the daily distribution	365 days
Common Class A
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)		$ 0.0043032787
Common Class A | Subsequent Event
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)	$ 0.004315068
Share price (USD per share)			$ 26.37
Common Class T
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)		$ 0.0043032787
Common Class T | Subsequent Event
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)	$ 0.004315068
Share price (USD per share)			$ 25.26

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Ordinary dividends (percent)	10.50%	33.60%	32.20%
Nontaxable distributions (percent)	89.50%	66.40%	67.80%
Total (percent)	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense (benefit), continuing operations	$ 60,000	$ 92,000	$ 96,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Leases [Abstract]
Operating leases of lessor, weighted average remaining lease term	10 years 9 months 18 days
2,017	$ 34,637
2,018	34,055
2,019	33,407
2,020	32,556
2,021	31,906
Thereafter	222,661
Total future minimum rental income	$ 389,222

Quarterly Results (Unaudited)82

Quarterly Results (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Apr. 29, 2016	Mar. 17, 2014	Feb. 07, 2014
Class of Stock [Line Items]
Revenues	$ 10,185,000	$ 10,041,000	$ 10,445,000	$ 9,767,000	$ 9,785,000	$ 9,144,000	$ 8,617,000	$ 8,070,000	$ 40,438,000	$ 35,616,000	$ 6,080,000
Acquisition-related fees and expenses	10,000	2,000	24,000	1,250,000	87,000	511,000	684,000	1,726,000	1,286,000	3,008,000	11,955,000
Operating income (loss)	3,267,000	3,026,000	3,017,000	1,783,000	2,716,000	2,479,000	2,054,000	1,072,000	11,093,000	8,321,000	(10,489,000)
Net loss	$ 189,000	$ (20,000)	$ (39,000)	$ (1,315,000)	$ 167,000	$ (479,000)	$ (510,000)	$ (1,253,000)	(1,185,000)	(2,075,000)	(12,117,000)
Basic and diluted net (loss) income per common share (USD per share)					$ 0.02	$ (0.06)	$ (0.07)	$ (0.18)
Distributions declared per common share (USD per share)					$ 0.397	$ 0.397	$ 0.393	$ 0.388
Common Class A
Class of Stock [Line Items]
Net loss									$ (1,161,000)	$ (2,075,000)	$ (12,117,000)
Basic and diluted net (loss) income per common share (USD per share)	$ 0.02	$ 0	$ 0	$ (0.13)					$ (0.11)	$ (0.26)	$ (5.27)
Distributions declared per common share (USD per share)	0.396	0.396	0.392	0.391					$ 1.575	$ 1.575	$ 1.247
Common Class T
Class of Stock [Line Items]
Net loss									$ (24,000)	$ 0	$ 0
Basic and diluted net (loss) income per common share (USD per share)	(0.04)	(0.05)	(0.05)	0					$ (0.32)	$ 0	$ 0
Distributions declared per common share (USD per share)	$ 0.396	$ 0.396	$ 0.219	$ 0					$ 1.011	$ 0	$ 0
Initial public offering
Class of Stock [Line Items]
Common stock authorized												$ 2,500,000,000	$ 2,975,000,000	$ 2,500,000,000
Initial public offering | Common Class A
Class of Stock [Line Items]
Common stock authorized												1,375,000,000		$ 2,500,000,000
Initial public offering | Common Class T
Class of Stock [Line Items]
Common stock authorized												$ 1,125,000,000

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 24, 2017USD ($)property$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Apr. 29, 2016$ / shares	Apr. 11, 2016$ / shares	Mar. 31, 2016$ / shares	Feb. 29, 2016$ / shares	Feb. 07, 2014$ / shares
Subsequent Event
Redemptions of common stock (shares) | shares		194,000	37,000	0
Redemptions of common stock | $		$ 4,624	$ 895
Repayments | $		$ 132,500
Net asset value per share		$ 24						$ 24
Fixed Rate Debt
Subsequent Event
Repayments | $		$ 0
Subsequent Event
Subsequent Event
Redemptions of common stock (shares) | shares	30,000
Redemptions of common stock | $	$ 692
Stock redeemed average price per share	$ 23.42
Number of businesses acquired (property) | property	1
Aggregate purchase price | $	$ 9,700
Subsequent Event | Fixed Rate Debt
Subsequent Event
Repayments | $	$ 42,800
Distribution reinvestment plan
Subsequent Event
Redemptions of common stock | $				$ 0
Share price (USD per share)						$ 24
Distribution reinvestment plan | Subsequent Event
Subsequent Event
Share price (USD per share)	$ 24
Initial public offering
Subsequent Event
Share price (USD per share)						26.37
Common Class A
Subsequent Event
Redemptions of common stock | $		$ 2
Common Class A | Subsequent Event
Subsequent Event
Share price (USD per share)	26.37
Common Class A | Distribution reinvestment plan
Subsequent Event
Net asset value per share		$ 24
Share price (USD per share)					$ 24	24	$ 23.75
Common Class A | Initial public offering
Subsequent Event
Share price (USD per share)					26.37				$ 25
Common Class T | Subsequent Event
Subsequent Event
Share price (USD per share)	$ 25.26
Common Class T | Distribution reinvestment plan
Subsequent Event
Share price (USD per share)					24	$ 24
Common Class T | Initial public offering
Subsequent Event
Net asset value per share					24
Share price (USD per share)					$ 25.26

Schedule III - Real Estate As84

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2016USD ($)		Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016USD ($)property
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						$ 135,350
Initial Costs to Company
Land						114,241
Buildings and Improvements						335,981
Total Adjustment to Basis						334
Gross Amount at Which Carried At December 31, 2016		$ 424,404		$ 346,353	$ 0	450,556	[1],[2]
Accumulated Depreciation		10,058		1,563	0	$ 19,295	[3],[4]
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period		424,404		346,353	0
Acquisitions		25,852		78,051	346,318
Improvements		300		0	35
Real estate, total additions		26,152		78,051	346,353
Balance, end of period		450,556	[1],[2]	424,404	346,353
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period		10,058		1,563	0
Acquisitions - Depreciation Expense for Building, Acquisitions Costs & Tenant Improvements Acquired		9,208		8,493	1,563
Improvements - Depreciation Expense for Tenant Improvements and Building Equipment		29		2	0
Accumulated depreciation total additions		9,237		8,495	1,563
Balance, end of period		19,295	[3],[4]	$ 10,058	$ 1,563
Number of single-tenant freestanding retail properties, owned | property						108
Number of multi-tenant retail properties, owned | property						8
Property, plant and equipment, land and real estate assets, net tax basis						$ 514,200
Line of credit | Revolving credit facility | JPMorgan Chase, Revolving credit facility
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Credit facility and notes payable						120,000
Arkadelphia, AR | Aaron’s:
Initial Costs to Company
Land						125
Buildings and Improvements						748
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	873				873
Accumulated Depreciation	[3],[4]	38				38
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	873
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	38
Cartersville, GA | Academy Sports:
Initial Costs to Company
Land						1,384
Buildings and Improvements						7,427
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	8,811				8,811
Accumulated Depreciation	[3],[4]	507				507
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	8,811
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	507
Fairmont, NC | Advance Auto:
Initial Costs to Company
Land						56
Buildings and Improvements						949
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,005				1,005
Accumulated Depreciation	[3],[4]	68				68
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,005
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	68
Hampton, VA | Advance Auto:
Initial Costs to Company
Land						474
Buildings and Improvements						759
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,233				1,233
Accumulated Depreciation	[3],[4]	25				25
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,233
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	25
Stratford, CT | Advance Auto:
Initial Costs to Company
Land						1,140
Buildings and Improvements						1,395
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,535				2,535
Accumulated Depreciation	[3],[4]	32				32
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,535
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	32
Rogers, AR | Aspen Dental
Initial Costs to Company
Land						592
Buildings and Improvements						1,090
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,682				1,682
Accumulated Depreciation	[3],[4]	32				32
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,682
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	32
Portage, IN | Bass Pro Shops:
Initial Costs to Company
Land						1,400
Buildings and Improvements						4,044
Total Adjustment to Basis						87
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,531				5,531
Accumulated Depreciation	[3],[4]	244				244
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,531
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	244
Louisville, KY | Blankenbaker Plaza:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						9,894
Initial Costs to Company
Land						3,557
Buildings and Improvements						11,430
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	14,987				14,987
Accumulated Depreciation	[3],[4]	679				679
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	14,987
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	679
Rockford, IL | Brynwood Square:
Initial Costs to Company
Land						1,194
Buildings and Improvements						10,515
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	11,709				11,709
Accumulated Depreciation	[3],[4]	809				809
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	11,709
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	809
Salina, KS | Buffalo Wild Wings & Shoe Carnival
Initial Costs to Company
Land						689
Buildings and Improvements						2,023
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,712				2,712
Accumulated Depreciation	[3],[4]	123				123
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,712
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	123
Yukon, OK | Burger King:
Initial Costs to Company
Land						519
Buildings and Improvements						587
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,106				1,106
Accumulated Depreciation	[3],[4]	34				34
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,106
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	34
Bangor, ME | Burlington Coat Factory:
Initial Costs to Company
Land						1,124
Buildings and Improvements						3,890
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,014				5,014
Accumulated Depreciation	[3],[4]	234				234
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,014
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	234
Riverton, NJ | CVS:
Initial Costs to Company
Land						699
Buildings and Improvements						4,657
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,356				5,356
Accumulated Depreciation	[3],[4]	308				308
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,356
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	308
Athens, WV | Dollar General:
Initial Costs to Company
Land						400
Buildings and Improvements						1,132
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,532				1,532
Accumulated Depreciation	[3],[4]	62				62
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,532
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	62
Autaugaville, AL | Dollar General:
Initial Costs to Company
Land						130
Buildings and Improvements						827
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	957				957
Accumulated Depreciation	[3],[4]	42				42
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	957
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	42
Bluefield, WV | Dollar General:
Initial Costs to Company
Land						250
Buildings and Improvements						993
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,243				1,243
Accumulated Depreciation	[3],[4]	49				49
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,243
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	49
Braham, MN | Dollar General:
Initial Costs to Company
Land						66
Buildings and Improvements						906
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	972				972
Accumulated Depreciation	[3],[4]	51				51
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	972
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	51
Charleston, WV | Dollar General:
Initial Costs to Company
Land						383
Buildings and Improvements						963
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,346				1,346
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,346
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Charleston, WV | Dollar General:
Initial Costs to Company
Land						361
Buildings and Improvements						863
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,224				1,224
Accumulated Depreciation	[3],[4]	44				44
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,224
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	44
Clarion, IA | Dollar General:
Initial Costs to Company
Land						128
Buildings and Improvements						860
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	988				988
Accumulated Depreciation	[3],[4]	49				49
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	988
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	49
Collinsville, AL | Dollar General:
Initial Costs to Company
Land						139
Buildings and Improvements						870
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,009				1,009
Accumulated Depreciation	[3],[4]	50				50
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,009
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	50
Dothan, AL | Dollar General:
Initial Costs to Company
Land						208
Buildings and Improvements						722
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	930				930
Accumulated Depreciation	[3],[4]	37				37
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	930
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	37
Elmwood, IL | Dollar General:
Initial Costs to Company
Land						154
Buildings and Improvements						808
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	962				962
Accumulated Depreciation	[3],[4]	48				48
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	962
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	48
Glouster, OH | Dollar General:
Initial Costs to Company
Land						334
Buildings and Improvements						986
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,320				1,320
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,320
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Huntington, WV | Dollar General:
Initial Costs to Company
Land						293
Buildings and Improvements						1,023
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,316				1,316
Accumulated Depreciation	[3],[4]	45				45
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,316
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	45
Huntington, WV | Dollar General:
Initial Costs to Company
Land						278
Buildings and Improvements						989
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,267				1,267
Accumulated Depreciation	[3],[4]	58				58
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,267
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	58
Junction City, OH | Dollar General:
Initial Costs to Company
Land						68
Buildings and Improvements						823
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	891				891
Accumulated Depreciation	[3],[4]	48				48
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	891
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	48
Lineville, AL | Dollar General:
Initial Costs to Company
Land						102
Buildings and Improvements						1,128
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,230				1,230
Accumulated Depreciation	[3],[4]	57				57
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,230
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	57
Logansport, IN | Dollar General:
Initial Costs to Company
Land						69
Buildings and Improvements						942
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,011				1,011
Accumulated Depreciation	[3],[4]	71				71
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,011
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	71
Moundridge, KS | Dollar General:
Initial Costs to Company
Land						190
Buildings and Improvements						668
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	858				858
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	858
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Oneonta, AL | Dollar General:
Initial Costs to Company
Land						93
Buildings and Improvements						917
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,010				1,010
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,010
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Pipestone, MN | Dollar General:
Initial Costs to Company
Land						130
Buildings and Improvements						891
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,021				1,021
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,021
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Ridgeley, WV | Dollar General:
Initial Costs to Company
Land						73
Buildings and Improvements						1,122
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,195				1,195
Accumulated Depreciation	[3],[4]	60				60
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,195
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	60
Selma, AL | Dollar General:
Initial Costs to Company
Land						18
Buildings and Improvements						851
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	869				869
Accumulated Depreciation	[3],[4]	43				43
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	869
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	43
Selma, AL | Dollar General:
Initial Costs to Company
Land						146
Buildings and Improvements						903
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,049				1,049
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,049
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Semmes, AL | Dollar General:
Initial Costs to Company
Land						139
Buildings and Improvements						837
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	976				976
Accumulated Depreciation	[3],[4]	43				43
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	976
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	43
Shorter, AL | Dollar General:
Initial Costs to Company
Land						91
Buildings and Improvements						935
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,026				1,026
Accumulated Depreciation	[3],[4]	54				54
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,026
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	54
Sissonville, WV | Dollar General:
Initial Costs to Company
Land						344
Buildings and Improvements						827
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,171				1,171
Accumulated Depreciation	[3],[4]	43				43
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,171
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	43
South Charleston, WV | Dollar General:
Initial Costs to Company
Land						335
Buildings and Improvements						991
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,326				1,326
Accumulated Depreciation	[3],[4]	48				48
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,326
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	48
Talladega, AL | Dollar General:
Initial Costs to Company
Land						82
Buildings and Improvements						789
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	871				871
Accumulated Depreciation	[3],[4]	40				40
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	871
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	40
Talladega, AL | Family Dollar:
Initial Costs to Company
Land						186
Buildings and Improvements						968
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,154				1,154
Accumulated Depreciation	[3],[4]	53				53
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,154
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	53
Virden, IL | Dollar General:
Initial Costs to Company
Land						65
Buildings and Improvements						1,111
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,176				1,176
Accumulated Depreciation	[3],[4]	60				60
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,176
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	60
Wakarusa, IN | Dollar General:
Initial Costs to Company
Land						161
Buildings and Improvements						1,038
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,199				1,199
Accumulated Depreciation	[3],[4]	61				61
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,199
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	61
Willard, MO | Dollar General:
Initial Costs to Company
Land						258
Buildings and Improvements						904
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,162				1,162
Accumulated Depreciation	[3],[4]	52				52
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,162
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	52
Wolcottville, IN | Dollar General:
Initial Costs to Company
Land						151
Buildings and Improvements						910
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,061				1,061
Accumulated Depreciation	[3],[4]	54				54
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,061
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	54
Bearden, AR | Family Dollar:
Initial Costs to Company
Land						86
Buildings and Improvements						678
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	764				764
Accumulated Depreciation	[3],[4]	32				32
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	764
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	32
Cabot, AR | Family Dollar:
Initial Costs to Company
Land						220
Buildings and Improvements						895
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,115				1,115
Accumulated Depreciation	[3],[4]	43				43
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,115
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	43
Columbus, OH | Family Dollar:
Initial Costs to Company
Land						359
Buildings and Improvements						1,032
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,391				1,391
Accumulated Depreciation	[3],[4]	55				55
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,391
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	55
Hobbs, NM | Family Dollar:
Initial Costs to Company
Land						350
Buildings and Improvements						782
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,132				1,132
Accumulated Depreciation	[3],[4]	42				42
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,132
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	42
Lewiston, ME | Family Dollar:
Initial Costs to Company
Land						295
Buildings and Improvements						1,015
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,310				1,310
Accumulated Depreciation	[3],[4]	59				59
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,310
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	59
Morgan, UT | Family Dollar:
Initial Costs to Company
Land						235
Buildings and Improvements						858
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,093				1,093
Accumulated Depreciation	[3],[4]	58				58
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,093
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	58
New Roads, LA | Family Dollar:
Initial Costs to Company
Land						122
Buildings and Improvements						759
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	881				881
Accumulated Depreciation	[3],[4]	35				35
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	881
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	35
Roswell, NM | Family Dollar:
Initial Costs to Company
Land						379
Buildings and Improvements						739
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,118				1,118
Accumulated Depreciation	[3],[4]	44				44
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,118
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	44
Salina, UT | Family Dollar:
Initial Costs to Company
Land						224
Buildings and Improvements						913
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,137				1,137
Accumulated Depreciation	[3],[4]	62				62
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,137
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	62
San Antonio, TX | Family Dollar:
Initial Costs to Company
Land						345
Buildings and Improvements						905
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,250				1,250
Accumulated Depreciation	[3],[4]	54				54
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,250
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	54
San Antonio, TX | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						7,536
Initial Costs to Company
Land						2,051
Buildings and Improvements						6,379
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	8,430				8,430
Accumulated Depreciation	[3],[4]	366				366
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	8,430
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	366
San Antonio, TX | Family Dollar:
Initial Costs to Company
Land						344
Buildings and Improvements						1,024
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,368				1,368
Accumulated Depreciation	[3],[4]	55				55
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,368
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	55
Tennessee Colony, TX | Family Dollar:
Initial Costs to Company
Land						89
Buildings and Improvements						829
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	918				918
Accumulated Depreciation	[3],[4]	47				47
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	918
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	47
Valley, AL | Family Dollar:
Initial Costs to Company
Land						184
Buildings and Improvements						928
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,112				1,112
Accumulated Depreciation	[3],[4]	46				46
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,112
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	46
Walthourville, GA | Family Dollar:
Initial Costs to Company
Land						327
Buildings and Improvements						952
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,279				1,279
Accumulated Depreciation	[3],[4]	48				48
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,279
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	48
Warrenville, SC | Family Dollar:
Initial Costs to Company
Land						98
Buildings and Improvements						1,014
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,112				1,112
Accumulated Depreciation	[3],[4]	51				51
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,112
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	51
Lafayette, IN | Fresh Thyme:
Initial Costs to Company
Land						410
Buildings and Improvements						6,208
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	6,618				6,618
Accumulated Depreciation	[3],[4]	397				397
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	6,618
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	397
Houma, LA | Houma Crossing:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						12,264
Initial Costs to Company
Land						5,359
Buildings and Improvements						17,574
Total Adjustment to Basis						35
Gross Amount at Which Carried At December 31, 2016	[1],[2]	22,968				22,968
Accumulated Depreciation	[3],[4]	1,180				1,180
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	22,968
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	1,180
Houma, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,022
Initial Costs to Company
Land						1,343
Buildings and Improvements						3,100
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,443				4,443
Accumulated Depreciation	[3],[4]	179				179
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,443
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	179
Eagan, MN | Kohl's
Initial Costs to Company
Land						3,226
Buildings and Improvements						5,579
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	8,805				8,805
Accumulated Depreciation	[3],[4]	132				132
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	8,805
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	132
Bay City, MI | Kroger:
Initial Costs to Company
Land						1,045
Buildings and Improvements						5,224
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	6,269				6,269
Accumulated Depreciation	[3],[4]	336				336
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	6,269
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	336
Lawton, OK | Lawton Marketplace:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						19,247
Initial Costs to Company
Land						3,169
Buildings and Improvements						29,070
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	32,239				32,239
Accumulated Depreciation	[3],[4]	1,839				1,839
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	32,239
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	1,839
Hermitage, PA | Lowe's
Initial Costs to Company
Land						2,499
Buildings and Improvements						10,517
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	13,016				13,016
Accumulated Depreciation	[3],[4]	221				221
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	13,016
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	221
Draper, UT | Mattress Firm:
Initial Costs to Company
Land						651
Buildings and Improvements						1,510
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,161				2,161
Accumulated Depreciation	[3],[4]	88				88
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,161
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	88
Lake City, FL | Mattress Firm:
Initial Costs to Company
Land						656
Buildings and Improvements						1,075
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,731				1,731
Accumulated Depreciation	[3],[4]	59				59
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,731
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	59
Raleigh, NC | Mattress Firm:
Initial Costs to Company
Land						431
Buildings and Improvements						1,121
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,552				1,552
Accumulated Depreciation	[3],[4]	68				68
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,552
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	68
Muncie, IN | Muncie Marketplace
Initial Costs to Company
Land						2,761
Buildings and Improvements						12,461
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	15,222				15,222
Accumulated Depreciation	[3],[4]	527				527
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	15,222
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	527
Bennettsville, SC | O’Reilly Auto Parts:
Initial Costs to Company
Land						375
Buildings and Improvements						910
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,285				1,285
Accumulated Depreciation	[3],[4]	36				36
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,285
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	36
Flowood, MS | O’Reilly Auto Parts:
Initial Costs to Company
Land						576
Buildings and Improvements						921
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,497				1,497
Accumulated Depreciation	[3],[4]	23				23
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,497
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	23
Iron Mountain, MI | O’Reilly Auto Parts:
Initial Costs to Company
Land						121
Buildings and Improvements						1,211
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,332				1,332
Accumulated Depreciation	[3],[4]	65				65
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,332
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	65
Murphy, TX | Raising Cane’s:
Initial Costs to Company
Land						648
Buildings and Improvements						1,960
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,608				2,608
Accumulated Depreciation	[3],[4]	116				116
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,608
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	116
Reno, NV | Raising Cane’s:
Initial Costs to Company
Land						1,119
Buildings and Improvements						2,174
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,293				3,293
Accumulated Depreciation	[3],[4]	119				119
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,293
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	119
Bowling Green, KY | Shoppes of Gary Farms:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						11,206
Initial Costs to Company
Land						2,039
Buildings and Improvements						13,730
Total Adjustment to Basis						24
Gross Amount at Which Carried At December 31, 2016	[1],[2]	15,793				15,793
Accumulated Depreciation	[3],[4]	809				809
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	15,793
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	809
Abilene, TX | Shops at Abilene:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						14,989
Initial Costs to Company
Land						3,414
Buildings and Improvements						21,270
Total Adjustment to Basis						188
Gross Amount at Which Carried At December 31, 2016	[1],[2]	24,872				24,872
Accumulated Depreciation	[3],[4]	1,291				1,291
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	24,872
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	1,291
North Kingstown, RI | Stop & Shop:
Initial Costs to Company
Land						668
Buildings and Improvements						998
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,666				1,666
Accumulated Depreciation	[3],[4]	60				60
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,666
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	60
Blytheville, AR | Tractor Supply:
Initial Costs to Company
Land						169
Buildings and Improvements						2,413
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,582				2,582
Accumulated Depreciation	[3],[4]	143				143
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,582
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	143
Midland, NC | Tractor Supply:
Initial Costs to Company
Land						213
Buildings and Improvements						2,317
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,530				2,530
Accumulated Depreciation	[3],[4]	157				157
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,530
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	157
Carson, CA | United Oil:
Initial Costs to Company
Land						3,774
Buildings and Improvements						1,892
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,666				5,666
Accumulated Depreciation	[3],[4]	109				109
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,666
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	109
Fallbrook, CA | United Oil:
Initial Costs to Company
Land						3,037
Buildings and Improvements						725
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,762				3,762
Accumulated Depreciation	[3],[4]	42				42
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,762
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	42
Harbor City, CA | United Oil:
Initial Costs to Company
Land						2,391
Buildings and Improvements						1,096
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,487				3,487
Accumulated Depreciation	[3],[4]	63				63
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,487
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	63
Hawthorne, CA | United Oil:
Initial Costs to Company
Land						1,744
Buildings and Improvements						363
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,107				2,107
Accumulated Depreciation	[3],[4]	21				21
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,107
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	21
Lakewood, CA | United Oil:
Initial Costs to Company
Land						2,457
Buildings and Improvements						1,423
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,880				3,880
Accumulated Depreciation	[3],[4]	82				82
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,880
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	82
Long Beach, CA | United Oil:
Initial Costs to Company
Land						2,129
Buildings and Improvements						777
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,906				2,906
Accumulated Depreciation	[3],[4]	45				45
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,906
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	45
Los Angeles, CA | United Oil:
Initial Costs to Company
Land						2,761
Buildings and Improvements						1,235
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,996				3,996
Accumulated Depreciation	[3],[4]	71				71
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,996
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	71
Los Angeles, CA | United Oil:
Initial Costs to Company
Land						3,499
Buildings and Improvements						860
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,359				4,359
Accumulated Depreciation	[3],[4]	50				50
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,359
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	50
San Clemente, CA | United Oil:
Initial Costs to Company
Land						3,447
Buildings and Improvements						985
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,432				4,432
Accumulated Depreciation	[3],[4]	57				57
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,432
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	57
San Diego, CA | United Oil:
Initial Costs to Company
Land						2,002
Buildings and Improvements						284
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,286				2,286
Accumulated Depreciation	[3],[4]	16				16
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,286
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	16
San Diego, CA | United Oil:
Initial Costs to Company
Land						3,633
Buildings and Improvements						783
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,416				4,416
Accumulated Depreciation	[3],[4]	45				45
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,416
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	45
San Diego, CA | United Oil:
Initial Costs to Company
Land						1,767
Buildings and Improvements						705
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,472				2,472
Accumulated Depreciation	[3],[4]	41				41
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,472
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	41
Santa Ana, CA | United Oil:
Initial Costs to Company
Land						2,090
Buildings and Improvements						598
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,688				2,688
Accumulated Depreciation	[3],[4]	34				34
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,688
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	34
Douglasville, GA | Village at Chapel HIll
Initial Costs to Company
Land						2,481
Buildings and Improvements						10,504
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	12,985				12,985
Accumulated Depreciation	[3],[4]	643				643
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	12,985
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	643
Taylor, MI | The Vitamin Shoppe
Initial Costs to Company
Land						820
Buildings and Improvements						399
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	1,219				1,219
Accumulated Depreciation	[3],[4]	20				20
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	1,219
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	20
Baton Rouge, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,494
Initial Costs to Company
Land						822
Buildings and Improvements						4,257
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,079				5,079
Accumulated Depreciation	[3],[4]	245				245
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,079
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	245
Clinton Township, MI | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,275
Initial Costs to Company
Land						2,399
Buildings and Improvements						2,977
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,376				5,376
Accumulated Depreciation	[3],[4]	173				173
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,376
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	173
Delavan, WI | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,728
Initial Costs to Company
Land						245
Buildings and Improvements						4,022
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,267				4,267
Accumulated Depreciation	[3],[4]	232				232
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,267
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	232
Edmond, OK | Walgreens:
Initial Costs to Company
Land						889
Buildings and Improvements						3,206
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,095				4,095
Accumulated Depreciation	[3],[4]	192				192
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,095
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	192
Greenville, OH | Walgreens:
Initial Costs to Company
Land						953
Buildings and Improvements						3,164
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,117				4,117
Accumulated Depreciation	[3],[4]	162				162
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,117
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	162
Harrison, AR | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,825
Initial Costs to Company
Land						353
Buildings and Improvements						5,184
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,537				5,537
Accumulated Depreciation	[3],[4]	315				315
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,537
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	315
Indianapolis, IN | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,675
Initial Costs to Company
Land						1,238
Buildings and Improvements						4,734
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,972				5,972
Accumulated Depreciation	[3],[4]	289				289
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,972
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	289
Kilgore, TX | Walgreens:
Initial Costs to Company
Land						588
Buildings and Improvements						5,074
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,662				5,662
Accumulated Depreciation	[3],[4]	327				327
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,662
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	327
Kokomo, IN | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,173
Initial Costs to Company
Land						204
Buildings and Improvements						3,408
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,612				3,612
Accumulated Depreciation	[3],[4]	196				196
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,612
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	196
Lees Summit, MO | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,250
Initial Costs to Company
Land						1,008
Buildings and Improvements						4,270
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,278				5,278
Accumulated Depreciation	[3],[4]	259				259
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,278
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	259
Lubbock, TX | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,125
Initial Costs to Company
Land						845
Buildings and Improvements						3,598
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,443				4,443
Accumulated Depreciation	[3],[4]	208				208
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,443
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	208
Richmond, IN | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						4,406
Initial Costs to Company
Land						138
Buildings and Improvements						4,923
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,061				5,061
Accumulated Depreciation	[3],[4]	283				283
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,061
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	283
Salisbury, NC | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,776
Initial Costs to Company
Land						920
Buildings and Improvements						3,246
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,166				4,166
Accumulated Depreciation	[3],[4]	186				186
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,166
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	186
Siloam Springs, AR | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,900
Initial Costs to Company
Land						933
Buildings and Improvements						4,146
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	5,079				5,079
Accumulated Depreciation	[3],[4]	251				251
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	5,079
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	251
Slidell, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,075
Initial Costs to Company
Land						1,557
Buildings and Improvements						2,714
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,271				4,271
Accumulated Depreciation	[3],[4]	160				160
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,271
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	160
Sulphur, LA | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,554
Initial Costs to Company
Land						1,019
Buildings and Improvements						2,875
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	3,894				3,894
Accumulated Depreciation	[3],[4]	166				166
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	3,894
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	166
Whiteville, NC | Walgreens:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances						3,936
Initial Costs to Company
Land						888
Buildings and Improvements						3,453
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	4,341				4,341
Accumulated Depreciation	[3],[4]	199				199
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	4,341
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	199
Chicago, IL | West Marine
Initial Costs to Company
Land						5,546
Buildings and Improvements						5,748
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	11,294				11,294
Accumulated Depreciation	[3],[4]	204				204
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	11,294
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	204
Amite, LA | Winn-Dixie:
Initial Costs to Company
Land						286
Buildings and Improvements						2,297
Total Adjustment to Basis						0
Gross Amount at Which Carried At December 31, 2016	[1],[2]	2,583				2,583
Accumulated Depreciation	[3],[4]	200				$ 200
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, end of period	[1],[2]	2,583
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, end of period	[3],[4]	$ 200
Building
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Acquired real estate asset, useful life		40 years
[1]	The aggregate cost for federal income tax purposes was $514.2 million.
[2]	The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2016 2015 2014Balance, beginning of period $424,404 $346,353 $—Additions: Acquisitions 25,852 78,051 346,318Improvements 300 — 35Total additions 26,152 78,051 346,353Balance, end of period $450,556 $424,404 $346,353
[3]	The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, buildings are depreciated over 40 years, and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter.
[4]	The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): Years Ended December 31, 2016 2015 2014Balance, beginning of period $10,058 $1,563 $—Additions Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired 9,208 8,493 1,563Improvements - Depreciation expense for tenant improvements and building equipment 29 2 —Total additions 9,237 8,495 1,563Balance, end of period $19,295 $10,058 $1,563