Cole Credit Property Trust V 10-K 30 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 16, 2020	Jun. 28, 2019
Document Information [Line Items]
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	COLE CREDIT PROPERTY TRUST V, INC.
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Public Float			$ 332.1
Entity Emerging Growth Company	false
Entity Central Index Key	0001580988
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Shell	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15
Common Class T
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate assets:
Land	$ 153,934	$ 156,365
Buildings and improvements	437,666	453,531
Intangible lease assets	91,935	86,385
Total real estate assets, at cost	683,535	696,281
Less: accumulated depreciation and amortization	(75,980)	(63,725)
Total real estate assets, net	607,555	632,556
Cash and cash equivalents	3,485	2,509
Restricted cash	456	397
Prepaid expenses, derivative assets and other assets	431	1,271
Rents and tenant receivables	9,668	8,065
Deferred costs, net	646	923
Total assets	622,241	645,721
LIABILITIES AND STOCKHOLDERS’ EQUITY
Credit facility and notes payable, net	342,511	348,492
Accrued expenses and accounts payable	3,052	2,820
Due to affiliates	1,782	2,108
Intangible lease liabilities, net	3,275	3,497
Distributions payable	1,669	2,220
Derivative liabilities, deferred rental income and other liabilities	7,940	3,122
Total liabilities	360,229	362,259
Commitments and contingencies
Redeemable common stock	9,526	10,473
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	371,988	369,638
Accumulated distributions in excess of earnings	(114,216)	(96,485)
Accumulated other comprehensive loss	(5,455)	(333)
Total stockholders’ equity	252,486	272,989
Total liabilities, redeemable common stock and stockholders’ equity	622,241	645,721
Common Class A
STOCKHOLDERS’ EQUITY
Common stock	149	150
Common Class T
STOCKHOLDERS’ EQUITY
Common stock	$ 20	$ 19

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
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	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)	14,997,382	14,982,055
Common stock, shares outstanding (shares)	14,997,382	14,982,055
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)	1,967,581	1,914,878
Common stock, shares outstanding (shares)	1,967,581	1,914,878

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental and other property income	$ 55,160,000	$ 54,352,000	$ 45,370,000
Operating expenses:
General and administrative	3,764,000	4,516,000	4,538,000
Property operating	4,109,000	3,202,000	2,402,000
Real estate tax	4,278,000	4,250,000	3,707,000
Advisory fees and expenses	6,159,000	6,248,000	5,442,000
Transaction-related	92,000	127,000	738,000
Depreciation and amortization	18,719,000	18,709,000	15,483,000
Impairment	688,000	3,794,000	0
Total operating expenses	37,809,000	40,846,000	32,310,000
Gain (loss) on disposition of real estate, net	685,000	(421,000)	0
Operating income	18,036,000	13,085,000	13,060,000
Other expense:
Interest expense and other, net	(14,481,000)	(14,149,000)	(11,551,000)
Net income (loss)	3,555,000	(1,064,000)	1,509,000
Net income (loss)	3,555,000	(1,064,000)	1,509,000
Common Class A
Other expense:
Net income (loss)	3,463,000	(614,000)	1,606,000
Net income (loss)	$ 3,463,000	$ (614,000)	$ 1,606,000
Basic and diluted weighted average number of common shares outstanding (shares)	14,994,731	14,645,909	13,605,267
Basic and diluted net income (loss) per common share (USD per share)	$ 0.23	$ (0.04)	$ 0.12
Common Class T
Other expense:
Net income (loss)	$ 92,000	$ (450,000)	$ (97,000)
Net income (loss)	$ 92,000	$ (450,000)	$ (97,000)
Basic and diluted weighted average number of common shares outstanding (shares)	1,949,340	1,701,291	834,963
Basic and diluted net income (loss) per common share (USD per share)	$ 0.05	$ (0.26)	$ (0.12)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3,555	$ (1,064)	$ 1,509
Other comprehensive (loss) income:
Unrealized (loss) gain on interest rate swaps	(5,198)	(940)
Unrealized (loss) gain on interest rate swaps			550
Amount of loss (gain) reclassified from other comprehensive (loss) income into income as interest expense and other, net	76	(238)
Amount of loss (gain) reclassified from other comprehensive (loss) income into income as interest expense and other, net			659
Total other comprehensive (loss) income	(5,122)	(1,178)	1,209
Total comprehensive (loss) income	$ (1,567)	$ (2,242)	$ 2,718

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Capital in Excess of Par Value	Accumulated Distributions in Excess of Earnings	Accumulated Other Comprehensive (Loss) Income	Common Class A	Common Class ACommon Stock	Common Class T	Common Class TCommon Stock
Balance (shares) at Dec. 31, 2016						12,327,579		321,223
Balance at Dec. 31, 2016	$ 223,352	$ 272,603	$ (48,981)	$ (396)		$ 123		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)						2,405,868		1,026,697
Issuance of common stock	87,947	87,913				$ 24		$ 10
Distributions declared on common stock	(22,550)		(22,550)
Commissions on stock sales and related dealer manager fees	(5,574)	(5,574)
Other offering costs	(1,766)	(1,766)
Distribution and stockholder servicing fees	$ (1,013)	(1,013)
Redemptions of common stock (shares)	(492,000)					(491,559)
Redemptions of common stock	$ (11,703)	(11,698)				$ (5)
Changes in redeemable common stock	1,007	1,007
Comprehensive income (loss)	2,718		1,509	1,209
Balance (shares) at Dec. 31, 2017						14,241,888		1,347,920
Balance at Dec. 31, 2017	272,418	341,472	(70,022)	813		$ 142		$ 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)						1,246,784		570,374
Issuance of common stock	43,394	43,375				$ 13		$ 6
Distributions declared on common stock	(25,367)		(25,367)
Commissions on stock sales and related dealer manager fees	(2,136)	(2,136)
Other offering costs	(873)	(873)
Distribution and stockholder servicing fees	$ (493)	(493)
Redemptions of common stock (shares)	(514,000)					(510,167)		(3,416)
Redemptions of common stock	$ (11,502)	(11,497)				$ (5)
Equity-based compensation (shares)						3,550
Equity-based compensation	20	20
Changes in redeemable common stock	(230)	(230)
Comprehensive income (loss)	(2,242)		(1,064)	(1,178)
Balance (shares) at Dec. 31, 2018					14,982,055	14,982,055	1,914,878	1,914,878
Balance at Dec. 31, 2018	272,989	369,638	(96,485)	(333)		$ 150		$ 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)						448,087		66,717.9
Issuance of common stock	10,664	10,659				$ 4		$ 1
Distributions declared on common stock	(21,286)		(21,286)
Commissions on stock sales and related dealer manager fees	(74)	(74)
Other offering costs	(114)	(114)
Distribution and stockholder servicing fees	$ 4	4
Redemptions of common stock (shares)	(508,000)					(494,462.88)		(14,015.3)
Redemptions of common stock	$ (10,289)	(10,284)				$ (5)		$ 0
Equity-based compensation (shares)						4,010
Equity-based compensation	79	79
Equity-based payments to advisor (in shares)					58,000	57,693
Equity-based payments to advisor	1,133	1,133			$ 1,100
Changes in redeemable common stock	947	947
Comprehensive income (loss)	(1,567)		3,555	(5,122)
Balance (shares) at Dec. 31, 2019					14,997,382	14,997,382.12	1,967,581	1,967,580.6
Balance at Dec. 31, 2019	$ 252,486	$ 371,988	$ (114,216)	$ (5,455)		$ 149		$ 20

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared (in USD per share)	$ 1.277	$ 1.575	$ 1.575

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 3,555,000	$ (1,064,000)	$ 1,509,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization, net	18,747,000	18,896,000	15,757,000
Straight-line rental income, net	(1,741,000)	(1,558,000)	(1,501,000)
Amortization of deferred financing costs	846,000	878,000	1,039,000
Equity-based compensation	79,000	20,000	0
Equity-based payment to advisor	1,133,000	0	0
Gain on extinguishment of debt	0	0	(108,000)
(Gain) loss on disposition of real estate assets, net	(685,000)	421,000	0
Impairment of real estate assets	688,000	3,794,000	0
Ineffectiveness of interest rate swaps			(32,000)
Write-off of deferred financing costs	0	148,000	0
Changes in assets and liabilities:
Rents and tenant receivables	208,000	414,000	(645,000)
Prepaid expenses and other assets	(30,000)	173,000	(290,000)
Accrued expenses and accounts payable	125,000	(86,000)	794,000
Deferred rental income and other liabilities	478,000	824,000	(105,000)
Due from affiliates	0	14,000	(14,000)
Due to affiliates	49,000	199,000	(371,000)
Net cash provided by operating activities	23,452,000	23,073,000	16,033,000
Cash flows from investing activities:
Investment in real estate assets and capital expenditures	(32,105,000)	(73,461,000)	(134,194,000)
Net proceeds from disposition of real estate assets	38,109,000	10,217,000	0
Payment of property escrow deposits	(50,000)	(475,000)	(3,600,000)
Refund of property escrow deposits	200,000	550,000	3,659,000
Net cash provided by (used in) investing activities	6,154,000	(63,169,000)	(134,135,000)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,322,000	31,662,000	77,251,000
Redemptions of common stock	(10,289,000)	(11,502,000)	(11,703,000)
Offering costs on issuance of common stock	(188,000)	(3,009,000)	(7,340,000)
Distribution and stockholder servicing fees paid	(371,000)	(371,000)	(197,000)
Proceeds from credit facility and notes payable	46,700,000	300,500,000	134,700,000
Repayments of credit facility and notes payable	(53,200,000)	(259,500,000)	(80,450,000)
Distributions to stockholders	(12,495,000)	(13,464,000)	(11,468,000)
Deferred financing costs paid	(50,000)	(2,833,000)	(427,000)
Net cash (used in) provided by financing activities	(28,571,000)	41,483,000	100,366,000
Net increase (decrease) in cash and cash equivalents and restricted cash	1,035,000	1,387,000	(17,736,000)
Cash and cash equivalents and restricted cash, beginning of period	2,906,000	1,519,000	19,255,000
Cash and cash equivalents and restricted cash, end of period	3,941,000	2,906,000	1,519,000
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:
Total cash and cash equivalents and restricted cash	$ 3,941,000	$ 2,906,000	$ 1,519,000

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	NOTE 1 — ORGANIZATION AND BUSINESS Cole Credit Property Trust V, Inc. (the “Company”) is a non-exchange traded real estate investment trust (“REIT”) formed as a Maryland corporation on December 12, 2012, that elected to be taxed, and currently qualifies, as a REIT for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2014. The Company operates a diversified portfolio of commercial real estate assets primarily consisting of net leased properties located throughout the United States. As of December 31, 2019 , the Company owned 148 properties, comprising 3.4 million rentable square feet of commercial space located in 34 states. As of December 31, 2019 , the rentable space at these properties was 98.3% leased, including month-to-month agreements, if any. Substantially all of the Company’s business is conducted through Cole Operating Partnership V, LP, a Delaware limited partnership, of which the Company is the sole general partner and owns, directly or indirectly, 100% of the partnership interests. The Company is externally managed by Cole REIT Management V, LLC, a Delaware limited liability company (“CR V Management”), which is an affiliate of CIM Group, LLC (“CIM”). CIM is a community-focused real estate and infrastructure owner, operator, developer and lender with multi-disciplinary expertise, including acquisitions, management, development, leasing, research and capital markets. CIM is headquartered in Los Angeles, California and has offices in Oakland, California; Bethesda, Maryland; Dallas, Texas; New York, New York; Chicago, Illinois; and Phoenix, Arizona. CCO Group, LLC owns and controls CR V Management, the Company’s advisor, and is the indirect owner of CCO Capital, LLC (“CCO Capital”), the Company’s dealer manager, and CREI Advisors, LLC (“CREI Advisors”), the Company’s property manager. CCO Group, LLC and its subsidiaries (collectively, “CCO Group”) serve as the Company’s sponsor and as a sponsor to CIM Real Estate Finance Trust, Inc. (“CMFT”) (formerly known as Cole Credit Property Trust IV, Inc.), Cole Office & Industrial REIT (CCIT II), Inc. (“CCIT II”), Cole Office & Industrial REIT (CCIT III), Inc. (“CCIT III”) and CIM Income NAV, Inc. (“CIM Income NAV”). On March 17, 2014, the Company commenced its initial public offering (the “Initial Offering”) on a “best efforts” basis of up to a maximum of $2.975 billion in shares of a single class of common stock. The Initial Offering 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, as well as up to $475.0 million in additional shares pursuant to a distribution reinvestment plan (the “Original DRIP”). In March 2016, the Company reclassified a portion of its unissued Class A common stock (“Class A Shares”) as Class T common stock (“Class T Shares”) and commenced sales of Class T Shares thereafter upon receipt of the required regulatory approvals. On March 29, 2016, the Company’s board of directors (the “Board”) adopted an Amended and Restated Distribution Reinvestment Plan (the “First Amended and Restated DRIP”) in connection with the reinvestment of distributions paid on Class A Shares and Class T Shares. Pursuant to the First 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 First Amended and Restated DRIP became effective as of May 1, 2016. On August 1, 2017, the Company commenced a follow-on offering on a “best efforts” basis (the “Follow-on Offering”) of up to an aggregate of $1.2 billion in Class A Shares and Class T Shares in the primary portion of the Follow-on Offering (up to $660.0 million in Class A Shares and up to $540.0 million in Class T Shares) and an additional $300.0 million in shares of common stock pursuant to the Second Amended and Restated Distribution Reinvestment Plan (the “Second Amended and Restated DRIP”). Effective December 31, 2018, the primary portion of the Follow-On Offering was terminated, but the Company continued to issue Class A Shares and Class T Shares pursuant to the Second Amended and Restated DRIP portion of the Follow-on Offering. On March 28, 2019, the Company registered an aggregate of $68,740,000 of Class A Shares and Class T Shares under the Second Amended and Restated DRIP (collectively with the Original DRIP and the First Amended and Restated DRIP, the “DRIP”) pursuant to a Registration Statement on Form S-3 (Registration No. 333-230566) filed with the U.S. Securities and Exchange Commission (the “SEC”) (the “S-3 Registration Statement”), which was declared effective on April 5, 2019 (the “DRIP Offering,” and collectively with the Initial Offering and the Follow-on Offering, the “Offerings”). As of April 30, 2019, the Company ceased issuing shares in the Follow-on Offering and had sold a total of $73.3 million of Class A Shares and Class T Shares, including $53.9 million ( $32.9 million in Class A Shares and $21.0 million in Class T Shares) sold to the public pursuant to the primary portion of the Follow-on Offering and $19.4 million ( $17.4 million in Class A Shares and $2.0 million in Class T Shares) sold pursuant to the DRIP. The unsold Class A Shares and Class T Shares in the Follow-on Offering of $1.4 billion in the aggregate were subsequently deregistered. The Company began to issue Class A Shares and Class T Shares under the DRIP Offering on May 1, 2019 and will continue to issue shares under the DRIP Offering. The Board establishes an updated estimated per share net asset value (“NAV”) of the Company’s common stock on at least an annual basis for purposes of assisting broker-dealers that participated in the Offering in meeting their customer account reporting obligations under Financial Industry Regulatory Authority Rule 2231. Distributions are reinvested in shares of the Company’s common stock under the DRIP at the estimated per share NAV as determined by the Board. Additionally, the estimated per share NAV as determined by the Board serves as the per share NAV for purposes of the share redemption program. As of December 31, 2019 , the estimated per share NAV was $19.64 per share for both Class A Shares and Class T Shares, which was established on March 20, 2019 using a valuation date of December 31, 2018. On March 25, 2020, the Board established an updated estimated per share NAV of the Company’s common stock, using a valuation date of December 31, 2019, of $19.64 per share for both Class A Shares and Class T Shares. Because the estimated per share NAV as of December 31, 2019 is the same as the estimated per share NAV as of December 31, 2018, distributions will continue to be reinvested in shares of the Company’s common stock under the Second Amended and Restated DRIP at a price of $19.64 per share for both Class A Shares and Class T Shares. The Board previously established a per share NAV as of February 29, 2016, December 31, 2016, December 31, 2017 and December 31, 2018. The Company’s estimated per share NAVs are not audited or reviewed by its independent registered public accounting firm.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — 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. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company combined rental income of $47.9 million and tenant reimbursement income of $6.5 million for the year ended December 31, 2018 , and rental income of $40.1 million and tenant reimbursement income of $5.3 million for the year ended December 31, 2017 , into a single financial statement line item, rental and other property income, in the consolidated statements of operations. Additionally, the Company combined bad debt expense of $39,000 and straight-line rental income of $1.6 million for the year ended December 31, 2018 and bad debt expense of $39,000 and straight-line rental income of $1.5 million for the year ended December 31, 2017 , into a single line item, straight-line rental income, net in the consolidated statements of cash flows. 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 Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. 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 Site improvements 15 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; changes in anticipated holding periods; 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. During the year ended December 31, 2019 , the Company recorded impairment charges of $688,000 related to one retail property, due to the carrying value being greater than the estimated fair value of the property. During the year ended December 31, 2018 , the Company recorded impairment charges of $3.8 million related to one anchored shopping center classified as held for sale, but later sold during the year, due to the carrying value being greater than the estimated fair value. The assumptions and uncertainties utilized in the evaluation of the impairment of real estate assets are discussed in detail in Note 3 — Fair Value Measurements . See also Note 4 — Real Estate Assets for further discussion regarding real estate acquisition and disposition activity. No impairment indicators were identified and no impairment losses were recorded during the year ended December 31 , 2017 . The Company’s impairment assessment as of December 31, 2019 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding periods for assets change, subsequent tests for impairment could result in impairment charges in the future. The Company cannot provide any assurance that material impairment charges with respect to the Company’s real estate assets will not occur during 2020 or in future periods. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its 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 is then 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, 2019 or 2018 . Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The dispositions of the Company’s individual properties did not qualify for discontinued operations presentation, and thus, the results of the properties that were sold will remain in operating income, and any associated gains or losses from the disposition are included in gain (loss) on disposition of real estate, net in the accompanying consolidated statements of operations. 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 and other intangibles, based in each case on their relative fair values. 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- 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, the 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- 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. Upon adoption of ASU 2017-01 (as defined below) in April 2017, contingent consideration arrangements for asset acquisitions are recognized when the contingency is resolved. 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. In April 2017, the Company elected to early adopt Accounting Standards Update (“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. Beginning in April 2017, all real estate acquisitions qualified as asset acquisitions, and as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are now capitalized and allocated to tangible and intangible assets and liabilities as described above. Other acquisition-related expenses, such as advisor reimbursements, continue to be expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Prior to the adoption of ASU 2017-01 in April 2017, all of the Company’s real estate acquisitions were accounted for as business combinations and, as such, acquisition-related expenses related to these business combination acquisitions were expensed as incurred. Prior to April 2017, acquisition-related expenses included within transaction-related expenses in the Company’s consolidated statements of operations primarily consisted of legal, deed transfer and other costs related to real estate purchase transactions, including costs incurred for deals that were not consummated. The Company expects its future acquisitions to qualify as asset acquisitions and, as such, the Company will allocate the purchase price to acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis. Cash and Cash Equivalents, Restricted Cash and Escrows Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. 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. The Company had $456,000 and $397,000 in restricted cash as of December 31, 2019 and 2018 , respectively. Included in restricted cash were $102,000 and $94,000 held by lenders in lockbox accounts as of December 31, 2019 and 2018 , respectively. 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. Restricted cash also included $354,000 and $303,000 held by lenders in escrow accounts in accordance with the associated lender’s loan agreement as of December 31, 2019 and 2018 , respectively. 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 straight-line method, which approximates the effective interest method . Unamortized deferred financing costs are written off when the associated debt is extinguished or repaid prior to 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, 2019 and 2018 , the Company had $646,000 and $923,000 , respectively, of deferred financing costs, net of accumulated amortization, related to the revolving loan portion of the credit facility. Costs incurred in seeking financing 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 CCO Capital a distribution and stockholder servicing fee for Class T Shares sold in the primary portion of the Offerings. 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 Initial Offering. Beginning on October 5, 2016, the calculation of the daily amount of the 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 Offerings. The aggregate distribution and stockholder servicing fee for Class T Shares 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 Offerings. 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 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, or a lower limit agreed upon between the dealer manager and the participating broker-dealer at the time such Class T Shares were sold; (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 offering in which such Class T Shares were purchased (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 (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). CCO Capital may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee. At the time the Company ceases paying the distribution and stockholder servicing fee with respect to an outstanding Class T Share pursuant to the provisions above, such Class T Share will convert into a number of Class A Shares (including any fractional shares) with an equivalent NAV as such share. The distribution and stockholder servicing fee is paid monthly in arrears. An estimated liability for future distribution and stockholder servicing fees payable to CCO Capital was recognized at the time each Class T Share was 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 Management, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offerings 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 derivative instrument that is designated as a hedge is recorded as other comprehensive (loss) income . 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 the maximum amount that is 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. Leases The Company adopted ASU No. 2016-02, Leases, (Topic 842) (“ASC 842”), on January 1, 2019 using the optional alternative transition method for financial information and related disclosures. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company has lease agreements with lease and non-lease components. The Company has elected to not separate non-lease components from lease components for all classes of underlying assets (primarily real estate assets) and will account for the combined components as rental and other property income. Non-lease components included in rental and other property income include certain tenant reimbursements for maintenance services (including common-area maintenance services or “CAM”), real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. As a lessor, the Company has further determined that this policy will be effective only on a lease that has been classified as an operating lease and the revenue recognition pattern and timing is the same for both types of components. The Company is not party to any material leases where it is the lessee. Significant judgments and assumptions are inherent in not only determining if a contract contains a lease, but also the lease classification, terms, payments, and, if needed, discount rates. Judgments include the nature of any options, including if they will be exercised, evaluation of implicit discount rates and the assessment and consideration of “fixed” payments for straight-line rent revenue calculations. Lease costs represent the initial direct costs incurred in the origination, negotiation and processing of a lease agreement. Such costs include outside broker commissions and other independent third-party costs and are amortized over the life of the lease on a straight-line basis. Costs related to salaries and benefits, supervision, administration, unsuccessful origination efforts and other activities not directly related to completed lease agreements are expensed as incurred. Leasing commissions subsequent to successful lease execution are capitalized. Revenue Recognition Rental and other property income is primarily derived from fixed contractual payments from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. 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. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes 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. Upon the determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be less than probable is recorded on a cash basis until collectability becomes probable. Management’s estimate of the collectability of lease-related receivables is based on the best information available to management. The Company does not use a general reserve approach and lease-related receivables are adjusted and taken against rental and other property income only when collectability becomes not probable. Income Taxes The Company elected to be taxed, and currently qualifies, as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with the 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) and Distributions 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 can result 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, when applicable, considers the effect of any potentially dilutive share equivalents, of which the Company had none for each of the years ended December 31, 2019 , 2018 or 2017 . Distributions per share are calculated based on the authorized daily distribution rate. Offering and Related Costs CR V Management 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 Offerings. As of December 31, 2019 , CR V Management had paid organization and offering costs in excess of the 2.0% in connection with the Offerings. 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 Offerings. 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 assets 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 new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements. In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), which was subsequently amended by ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses (“ASU 2018-19”) in November 2018. Subsequently, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU No. 2019-10 and ASU No. 2019-11 to provide additional guidance on the credit losses standard. ASU 2016-13 and the related updates are intended to improve financial reporting requiring more timely recognition 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, 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 under current GAAP. ASU 2018-19 clarified that receivables arising from operating leases are not within the scope of Topic 326. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases . ASU 2016-13 and ASU 2018-19 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company will adopt this ASU during the first quarter of fiscal year 2020 and does not expect it will have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 are effective January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used t

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3 — 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 and notes payable — 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, 2019 , the estimated fair value of the Company’s debt was $343.4 million , compared to a carrying value of $344.1 million . The estimated fair value of the Company’s debt was $350.7 million as of December 31, 2018 , compared to a carrying value on that date of $350.6 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, 2019 and 2018 , 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, accrued expenses and accounts payable , 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, 2019 and 2018 , there have been no transfers of financial assets or liabilities between fair value hierarchy levels. Items Measured at Fair Value on a 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, 2019 and 2018 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2019 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swap $ 50 $ — $ 50 $ — Financial liabilities: Interest rate swaps $ (5,505 ) $ — $ (5,505 ) $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2018 (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swaps $ 832 $ — $ 832 $ — Financial liability: Interest rate swap $ (1,165 ) $ — $ (1,165 ) $ — Items Measured at Fair Value on a Non-Recurring Basis (Including Impairment Charges) Certain financial and nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The Company’s process for identifying and recording impairments related to real estate assets and intangible assets is discussed in Note 2 — Summary of Significant Accounting Policies . As discussed in Note 4 — Real Estate Assets , during the year ended December 31, 2019 , real estate assets related to one property was deemed to be impaired, due to the carrying value being greater than the estimated fair value of the property. The carrying value was reduced to an estimated fair value of $930,000 , resulting in impairment charges of $688,000 . During the year ended December 31, 2018 , one property was deemed to be impaired, due to the carrying value being greater than the estimated fair value of the property, net of selling costs. The carrying value was reduced to an estimated fair value of $10.4 million , resulting in impairment charges of $3.8 million , and was subsequently disposed of during the year ended December 31, 2018 . During the year ended December 31, 2017 , the Company determined that no assets were deemed impaired. The Company determined that the selling prices used to determine the fair values were Level 2 inputs. The following table presents the impairment charges by asset class recorded during the years ended December 31, 2019 and 2018 (in thousands): Year Ended December 31, 2019 2018 Asset class impaired: Land $ 144 $ 736 Buildings and improvements 323 3,001 Intangible lease assets 221 212 Intangible lease liabilities — (155 ) Total impairment loss $ 688 $ 3,794

REAL ESTATE ASSETS

REAL ESTATE ASSETS	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
REAL ESTATE ASSETS	NOTE 4 — REAL ESTATE ASSETS 2019 Property Acquisitions During the year ended December 31, 2019 , the Company acquired 14 commercial properties for an aggregate purchase price of $30.6 million (the “ 2019 Asset Acquisitions” ), which includes $941,000 of acquisition-related expenses that were capitalized. The Company funded the 2019 Asset Acquisitions with proceeds from real estate dispositions during the year ended December 31, 2019 . The following table summarizes the purchase price allocations for the 2019 Asset Acquisitions purchased during the year ended December 31, 2019 (in thousands): 2019 Asset Acquisitions Land $ 5,454 Buildings and improvements 14,037 Acquired in-place leases and other intangibles (1) 11,465 Intangible lease liability (2) (316 ) Total purchase price $ 30,640 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 19.8 years. (2) The weighted average amortization period for the acquired intangible lease liability was 14.9 years. 2019 Property Dispositions During the year ended December 31, 2019 , the Company di sposed of six retail properties and one anchored shopping center for an aggregate gross sales price of $39.2 million , resulting in net proceeds of $38.1 million after closing costs and disposition fees due to CR V Management or its affiliates and a net gain of $685,000 . The Company has no continuing involvement with these properties. The gain on sale of real estate is included in gain (loss) on disposition of real estate, net in the consolidated statements of operations. The disposition of these properties does not qualify to be reported as discontinued operations since the dispositions do not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the operating results of these disposed properties are reflected in the Company’s results from continuing operations for all periods presented through their respective dates of disposition. 2019 Impairment The Company performs quarterly impairment review procedures, primarily through continuous monitoring of events and changes in circumstances that could indicate that the carrying value of certain of its real estate assets may not be recoverable. See Note 2 — Summary of Significant Accounting Policies for a discussion on the Company’s accounting policies regarding impairment of real estate assets. During the year ended December 31, 2019 , one retail property totaling approximately 5,000 square feet with a carrying value of $1.6 million was deemed to be impaired and its carrying value was reduced to an estimated fair value of $930,000 , resulting in impairment charges of $688,000 , which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion on these impairment charges. 2018 Property Acquisitions During the year ended December 31, 2018 , the Company acquired six commercial properties for an aggregate purchase price of $71.4 million (the “2018 Asset Acquisitions”), which includes $2.0 million of external acquisition-related expenses that were capitalized in accordance with ASU 2017-01. Prior to the adoption of ASU 2017-01 in April 2017, costs related to property acquisitions were expensed as incurred. The Company funded the 2018 Asset Acquisitions with net proceeds from the Follow-on Offering and available borrowings. The following table summarizes the purchase price allocation for the 2018 Asset Acquisitions purchased during the year ended December 31, 2018 (in thousands): 2018 Asset Acquisitions Land $ 16,139 Buildings and improvements 47,456 Acquired in-place leases and other intangibles (1) 8,488 Intangible lease liabilities (2) (655 ) Total purchase price $ 71,428 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 17.0 years. (2) The weighted average amortization period for acquired intangible lease liabilities was 19.2 years. 2018 Property Dispositions During the year ended December 31, 2018 , the Company disposed of one anchored shopping center for an aggregate gross sales price of $10.5 million , resulting in net proceeds of $10.2 million after closing costs and a net loss of $421,000 . This net loss includes $68,000 incurred for disposition fees due to CR V Management or its affiliates in connection with the sale of the property, and the Company has no continuing involvement with the property. The loss on sale of real estate is included in loss on disposition of real estate, net in the consolidated statements of operations. The disposition of this property did not qualify to be reported as discontinued operations since the disposition did not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the operating results of this disposed property are reflected in the Company’s results from continuing operations for all periods presented through their respective date of disposition. 2018 Impairment The Company performs quarterly impairment review procedures, primarily through continuous monitoring of events and changes in circumstances that could indicate that the carrying value of certain of its real estate assets may not be recoverable. See Note 2 — Summary of Significant Accounting Policies for a discussion on the Company’s accounting policies regarding impairment of real estate assets. During the year ended December 31, 2018 , one anchored shopping center totaling approximately 78,000 square feet that was classified as held for sale with a carrying value of $14.2 million was deemed to be impaired and its carrying value was reduced to an estimated fair value of $10.4 million , resulting in impairment charges of $3.8 million , which were recorded in the consolidated statements of operations. See Note 3 — Fair Value Measurements for a further discussion on these impairment charges. 2017 Property Acquisitions During the year ended December 31, 2017 , the Company acquired 20 commercial properties for an aggregate purchase price of $133.9 million (the “ 2017 Acquisitions”), of which 18 were accounted for as asset acquisitions and two were accounted for as business combinations as they were acquired prior to the Company’s adoption of ASU 2017-01 in April 2017. The Company funded the 2017 Acquisitions with net proceeds from the Offerings and available borrowings. The following table summarizes the consideration transferred for the 2017 Acquisitions (in thousands): 2017 Acquisitions Real estate assets: Purchase price of asset acquisitions $ 119,034 Purchase price of business combinations 14,878 Total purchase price of real estate assets acquired (1) $ 133,912 ______________________ (1) The weighted average amortization period for the 2017 Acquisitions was 13.4 years for acquired in-place leases and other intangibles, 16.6 years for acquired above-market leases and 12.9 years for acquired intangible lease liabilities. Of the 2017 Acquisitions, 18 commercial properties, having an aggregate purchase price of $119.0 million , were accounted for as asset acquisitions (the “ 2017 Asset Acquisitions”). The aggregate purchase price of the 2017 Asset Acquisitions includes $3.5 million of external acquisition-related expenses that were capitalized in accordance with ASU 2017-01. Prior to the adoption of ASU 2017-01, costs related to property acquisitions were expensed as incurred. The following table summarizes the purchase price allocation for the 2017 Asset Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Asset Acquisitions Land $ 26,647 Buildings and improvements 68,922 Acquired in-place leases and other intangibles 22,673 Acquired above-market leases 1,665 Intangible lease liabilities (873 ) Total purchase price $ 119,034 Of the 2017 Acquisitions, two commercial properties, having an aggregate purchase price of $14.9 million , were accounted for as business combinations (the “ 2017 Business Combination Acquisitions”). The Company allocated the purchase price of these properties to the fair value of the assets acquired. The following table summarizes the purchase price allocations for the 2017 Business Combination Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Business Combination Acquisitions Land $ 2,099 Buildings and improvements 11,342 Acquired in-place leases and other intangibles 1,437 Total purchase price $ 14,878 The Company recorded revenue for the year ended December 31, 2017 of $936,000 and net income for the year ended December 31, 2017 of $147,000 related to the 2017 Business Combination Acquisitions. In addition, the Company recorded $407,000 of acquisition-related expenses for the year ended December 31, 2017 , which is included in transaction-related expenses on the consolidated statements of operations. The following table summarizes selected financial information of the Company as if all of the 2017 Business Combination Acquisitions were completed on January 1, 2016 for each period presented below. The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2017 and 2016 (in thousands): Year Ended Year Ended December 31, 2017 December 31, 2016 Pro forma basis (unaudited): Revenue $ 45,568 $ 41,572 N et income $ 1,644 $ 1,058 The unaudited pro forma information for the year ended December 31, 2017 was adjusted to exclude $407,000 of acquisition-related fees and expenses recorded during the period related to the 2017 Business Combination Acquisitions. Accordingly, these costs were instead recognized in the unaudited pro forma information for the year ended December 31, 2016. 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 2016, nor does it purport to represent the results of future operations. Property Concentrations As of December 31, 2019 , one of the Company’s tenants, Walgreens, accounted for 10% of the Company’s 2019 annualized rental income. The Company also had certain geographic concentrations in its property holdings. In particular, as of December 31, 2019 , 21 of the Company’s properties were located in Texas , which accounted for 13% of the Company’s 2019 total annualized rental income. In addition, the Company had tenants in the discount store, grocery, sporting goods and pharmacy industries, which comprised 13% , 13% , 11% and 11% , respectively, of the Company’s 2019 annualized rental income.

INTANGIBLE LEASE ASSETS AND LIA

INTANGIBLE LEASE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE LEASE ASSETS AND LIABILITIES	NOTE 5 — INTANGIBLE LEASE ASSETS AND LIABILITIES Intangible lease assets and liabilities consisted of the following as of December 31, 2019 and 2018 (in thousands, except weighted average life remaining): As of December 31, 2019 2018 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $23,013 and $19,389, respectively (with a weighted average life remaining of 11.5 years and 11.1 years, respectively) $ 61,035 $ 58,387 Acquired above-market leases, net of accumulated amortization of $2,973 and $3,128, respectively (with a weighted average life remaining of 10.8 years and 11.1 years, respectively) 4,914 5,481 Total intangible lease assets, net $ 65,949 $ 63,868 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $2,359 and $1,897, respectively (with a weighted average life remaining of 8.7 years and 8.9 years, respectively) $ 3,275 $ 3,497 Amortization of the above-market leases is recorded as a reduction to rental and other property income, and amortization expense for the in-place leases and other intangibles is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2019 , 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 In-place lease and other intangible amortization $ 6,107 $ 6,081 $ 5,001 Above-market lease amortization $ 567 $ 782 $ 835 Below-market lease amortization $ 539 $ 595 $ 561 The following table summarizes the estimated amortization relating to the intangible lease assets and liabilities subsequent to December 31, 2019 (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2020 $ 5,971 $ 515 $ 432 2021 $ 5,909 $ 499 $ 414 2022 $ 5,714 $ 488 $ 333 2023 $ 5,413 $ 478 $ 321 2024 $ 4,995 $ 387 $ 287 Thereafter $ 33,033 $ 2,547 $ 1,488 Total $ 61,035 $ 4,914 $ 3,275

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 6 — 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, 2019 , one of the Company’s interest rate swaps matured. Additionally, the Company entered into one interest rate swap agreement during the year ended December 31, 2019 . As of December 31, 2019 , the Company had three 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, 2019 and 2018 (dollar amounts in thousands): Outstanding Notional Amount as of December 31, 2019 Interest Rate (1) Effective Date Maturity Date Fair Value of Asset and (Liabilities) as of December 31, Balance Sheet Location 2019 2018 Interest Rate Swap Prepaid expenses, derivative assets and other assets $ 21,100 3.49% 1/15/2016 2/1/2021 $ 50 $ 832 Interest Rate Swaps Derivative liabilities, deferred rental income and other liabilities $ 220,000 3.90% to 4.45% 5/23/2018 to 4/25/2019 3/28/2022 to 3/27/2023 $ (5,505 ) $ (1,165 ) _____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2019 . 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 derivative instruments that are designated as hedges is recorded in other comprehensive (loss) income , 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, 2019 and 2017 , losses of $76,000 and $659,000 , respectively, reclassified from other comprehensive (loss) income were recorded as interest expense. For the year ended December 31, 2018, the $238,000 gain reclassified from other comprehensive (loss) income was recorded as a decrease to interest expense. During the next 12 months, the Company estimates that $1.9 million will be reclassified from other comprehensive (loss) income as an increase to interest expense. The Company includes cash flows from interest rate swap agreements in cash flows provided by operating activities on its consolidated statements of cash flows, as the Company’s accounting policy is to present cash flows from hedging instruments in the same category in its consolidated statements of cash flows as the category for cash flows from the hedged items. 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, it could have been required to settle its obligations under the agreements at an aggregate termination value, inclusive of interest payments, of $5.5 million , which includes accrued interest. 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, 2019 .

CREDIT FACILITY AND NOTES PAYAB

CREDIT FACILITY AND NOTES PAYABLE	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	NOTE 7 — CREDIT FACILITY AND NOTES PAYABLE As of December 31, 2019 , the Company had $342.5 million of debt outstanding, including net deferred financing costs, with a weighted average years to maturity of 2.9 years and a weighted average interest rate of 4.1% . The weighted average years to maturity is computed using the scheduled 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 scheduled repayment date. Should a loan not be repaid by its scheduled 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, 2019 and 2018 , and the debt activity for the year ended December 31, 2019 (in thousands): During the Year Ended December 31, 2019 Balance as of December 31, 2018 Debt Issuance, (1) Repayments and Modifications Accretion Balance as of December 31, 2019 Credit facility $ 258,000 $ 46,700 $ (53,200 ) $ — $ 251,500 Fixed rate debt 92,600 — — — 92,600 Total debt 350,600 46,700 (53,200 ) — 344,100 Deferred costs – credit facility (2) (1,668 ) (36 ) — 402 (1,302 ) Deferred costs – fixed rate debt (440 ) (1 ) — 154 (287 ) Total debt, net $ 348,492 $ 46,663 $ (53,200 ) $ 556 $ 342,511 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Deferred costs related to the term portion of the Credit Facility, as defined below. Notes Payable As of December 31, 2019 , the fixed rate debt outstanding of $92.6 million included $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 3.5% to 4.5% per annum. The fixed rate debt outstanding matures on various dates from February 2021 to December 2024 . The aggregate balance of gross real estate assets, net of gross intangible lease liabilities, securing the fixed rate debt outstanding was $157.0 million as of December 31, 2019 . Each of the mortgage notes payable comprising the fixed rate debt is secured by the respective properties on which the debt was placed. Credit Facility The Company has a credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan Chase”), as administrative agent, and the other lenders party thereto. The Credit Agreement allows for borrowings of up to $350.0 million (the “Credit Facility”). The Credit Facility includes $220.0 million in term loans (the “Term Loans”) and up to $130.0 million in revolving loans (the “Revolving Loans”). The Term Loans mature on March 27, 2023 and the Revolving Loans mature on March 28, 2022 , however, the Company may elect to extend the maturity date of the Revolving Loans to March 28, 2023 subject to satisfying certain conditions described in the Credit Agreement. 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 LIBOR multiplied by the statutory reserve rate (the “Adjusted LIBO Rate”) for the interest period plus an applicable rate ranging from 1.30% to 1.70% ; or (ii) a base rate ranging from 0.30% to 0.70% , plus the greater of: (a) JPMorgan Chase’s Prime Rate (as defined in the Credit Agreement); (b) the NYFRB Rate (as defined in the Credit Agreement) plus 0.50% ; or (c) the Adjusted LIBO Rate for a period of one month plus 1.0% . As of December 31, 2019 , the amounts outstanding under the Revolving Loans totaled $31.5 million at a weighted average interest rate of 3.6% . As of December 31, 2019 , the amounts outstanding under the Term Loans totaled $220.0 million , all of which was subject to interest rate swap agreements (the “Swapped Term Loan”). The interest rate swap agreements had the effect of fixing the Adjusted LIBO Rate per annum of the Swapped Term Loan at an all-in rate of 4.1% . The Company had $251.5 million of debt outstanding under the Credit Facility as of December 31, 2019 at a weighted average interest rate of 4.1% and $98.5 million in unused capacity, subject to borrowing availability. The Credit Agreement contains provisions with respect to covenants, events of default and remedies customary for facilities of this nature. In particular, the Credit Agreement requires the Company to maintain a minimum consolidated net worth not less than $225.0 million plus 75% of the equity interests issued by the Company, a net leverage ratio less than or equal to 60% , a fixed charge coverage ratio equal to or greater than 1.50 , an unsecured debt to unencumbered asset value ratio equal to or less than 60% , an unsecured debt service coverage ratio greater than 1.75 , a secured debt ratio equal to or less than 40% and recourse debt not greater than 15% of total asset value. The Company believes it was in compliance with the financial covenants of the Credit Agreement, as well as the financial covenants under the Company’s various fixed and variable rate debt agreements as of December 31, 2019 . Maturities The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to December 31, 2019 (in thousands): Year Ending December 31, Principal Repayments 2020 $ 388 2021 68,009 2022 31,928 2023 220,448 2024 23,327 Thereafter — Total $ 344,100

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	NOTE 8 — SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2019 , 2018 and 2017 are as follows (in thousands): Year Ended December 31, 2019 2018 2017 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Common stock issued through distribution reinvestment plan $ 9,342 $ 11,732 $ 10,696 Distributions declared and unpaid $ 1,669 $ 2,220 $ 2,049 Change in accrued distribution and stockholder servicing fees $ (4 ) $ 493 $ 1,013 Accrued capital expenditures $ 114 $ 7 $ 70 Change in fair value of interest rate swaps $ (5,122 ) $ (1,178 ) $ 1,209 Supplemental Cash Flow Disclosures: Interest paid $ 13,986 $ 13,167 $ 10,466 Cash paid for taxes $ 154 $ 191 $ 79

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 — 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. 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, 2019
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS	NOTE 10 — RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS The Company has incurred, and will continue to incur, commissions, fees and expenses payable to CR V Management and certain of its affiliates in connection with the Offerings and the acquisition, management and disposition of its assets. Selling commissions and dealer manager fees In connection with the primary portion of the Follow-on Offering, which was terminated on December 31, 2018, CCO Capital, the Company’s dealer manager, which is affiliated with CR V Management, received selling commissions of up to 7.0% and 3.0% of gross offering proceeds from the primary portion of the Offerings 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 CCO Capital reallowed 100% of selling commissions earned to participating broker-dealers. In addition, CCO Capital received 2.0% of gross offering proceeds from the primary portion of the Offerings for both Class A Shares and Class T Shares as a dealer manager fee. CCO Capital, in its sole discretion, reallowed all or a portion of its dealer manager fee to participating broker-dealers. No selling commissions or dealer manager fees are paid to CCO Capital 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) were paid by CR V Management or its affiliates and were 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, 2019 , CR V Management had paid organization and offering expenses in excess of 2.0% of aggregate gross offering proceeds in connection with the Offerings. 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 Offerings. Since the Follow-on Offering has been terminated, these excess amounts will not be paid. Distribution and stockholder servicing fees Through October 4, 2016, the Company paid CCO Capital a distribution and stockholder servicing fee for Class T Shares that was 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 Initial Offering. 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 Offerings. The distribution and stockholder servicing fee is paid monthly in arrears from cash flows from operations or, if the Company’s cash flows from operations are not sufficient to pay the distribution and stockholder servicing fee, from borrowings in anticipation of future cash flows. An estimated liability for future distribution and stockholder servicing fees payable to CCO Capital was recognized at the time each Class T Share was 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, or a lower limit agreed upon between the dealer manager and the participating broker-dealer at the time such Class T Shares were sold; (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, excluding shares sold pursuant to the DRIP; (iii) the fourth anniversary of the last day of the month in which the offering in which such Class T Shares were purchased (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. CCO Capital 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 in connection with the distribution of Class T Shares. At the time the Company ceases paying the distribution and stockholder servicing fee with respect to an outstanding Class T Share pursuant to the provisions above, such Class T Share will convert into a number of Class A Shares (including any fractional shares) with an equivalent net asset value as such Class T Share. The Company cannot predict when this will occur. No distribution and stockholder servicing fees are paid to CCO Capital or other participating broker-dealers with respect to shares sold pursuant to the DRIP. Acquisition fees and expenses The Company pays CR V Management 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 Management 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; provided, that acquisition expenses are not included in the contract purchase price of the property. Additionally, CR V Management 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, unless otherwise approved by a majority of the Board, including a majority of the Company’s independent directors, as commercially competitive, fair and reasonable to the Company. Other transaction-related expenses, such as advisor reimbursements for disposition activities, are expensed as incurred and are included in transaction-related expenses in the consolidated statements of operations. Advisory fees and expenses Pursuant to the advisory agreement with CR V Management, the Company pays CR V Management a monthly advisory fee based upon the Company’s monthly average asset value, which, effective January 1, 2019 , is based on the estimated market value of such assets used to determine the Company’s estimated per share NAV as of December 31, 2018 , as discussed in Note 1 — Organization and Business , and for those assets acquired subsequent to December 31, 2018 , 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 asset value that is between $0 and $2.0 billion ; (2) an annualized rate of 0.70% paid on the Company’s average asset value that is between $2.0 billion and $4.0 billion ; and (3) an annualized rate of 0.65% paid on the Company’s average asset value that is over $4.0 billion . Starting in May 2019, one-third of this fee is paid to CR V Management in Class A Shares, which, during the year ended December 31, 2019 is issued at the most recently established NAV price of $19.64 . During the year ended December 31, 2019 , approximately 58,000 Class A Shares were issued for payment of advisory fees, which vested upon issuance, totaling $1.1 million for the year ended December 31, 2019 in equity-based payments included in advisory fees and expenses in the consolidated statements of operations. The Board has approved the payment of one-third of the monthly advisory fee in Class A Shares through March 2020. Operating expenses The Company reimburses CR V Management, 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 Management 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 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 Management or its affiliates for the salaries and benefits paid to personnel in connection with the services for which CR V Management or its affiliates receive acquisition fees, and the Company will not reimburse CR V Management for salaries and benefits paid to the Company’s executive officers. Disposition fees If CR V Management 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 Management 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 property, not to exceed 1.0% of the contract price of the property sold; provided, however, in no event may the total disposition fees paid to CR V Management, 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 Management 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 Management 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 Management agree upon, not to exceed an amount equal to 1.0% of the contract price of the assets sold. 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 Management, 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 stockholders and the amount of distributions necessary to generate a 6.0% annual cumulative, non-compounded return to stockholders; (2) if the Company is sold or its assets are liquidated, CR V Management will be entitled to a subordinated performance fee equal to 15.0% of the net sale proceeds remaining after stockholders 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 Management 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, 2019 , 2018 and 2017 , 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 Management and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2019 2018 2017 Selling commissions $ 47 $ 1,498 $ 4,021 Dealer manager fees $ 27 $ 638 $ 1,553 Other organization and offering expenses $ 114 $ 873 $ 1,766 Distribution and stockholder servicing fees (1) $ 371 $ 371 $ 197 Acquisition fees and expenses $ 742 $ 1,861 $ 3,077 Disposition fees $ 326 $ 68 $ — Advisory fees and expenses $ 6,159 $ 6,248 $ 5,442 Operating expenses $ 1,325 $ 2,079 $ 2,100 ______________________ (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 CCO Capital of $869,000 and $1.2 million as of December 31, 2019 and 2018 , respectively, 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 . Due to Affiliates As of December 31, 2019 and 2018 , $1.8 million and $2.1 million , respectively, were recorded for services and expenses incurred, but not yet reimbursed to CR V Management, or its affiliates. The amounts are primarily for distribution and stockholder servicing fees payable to CCO Capital and operating fees and expenses. These amounts were included in due to affiliates in the consolidated balance sheets for such periods.

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	12 Months Ended
	Dec. 31, 2019
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	NOTE 11 — ECONOMIC DEPENDENCY Under various agreements, the Company has engaged and may in the future engage CR V Management 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 stockholder relations. As a result of these relationships, the Company is dependent upon CR V Management 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, 2019
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 12 — STOCKHOLDERS’ EQUITY As of December 31, 2019 and 2018 , 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 Class A Shares and 245.0 million Class T 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, an affiliate of CR V Management. The Company’s Board may authorize additional shares of capital stock and designate the terms of such additional shares of capital stock without obtaining stockholder 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 Operating Partnership, L.P., a former affiliated entity of the Company’s sponsor. On February 1, 2018, the ownership of such shares was transferred to CR V Management. Pursuant to the Company’s Charter, CR V Management is prohibited from selling the 8,000 shares of the common stock that represents the initial investment in the Company for so long as CCO Group remains the Company’s sponsor; provided, however, that CR V Management 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 at the most recent e stimated per share NAV 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, 2019 , 2018 and 2017 , approximately 459,000 , 519,000 and 446,000 shares, respectively, were purchased under the DRIP for $9.3 million , $11.7 million and $10.7 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; after two years from the purchase date, 97.5% of the most recent estimated per share NAV; and after three years from the purchase date, 100% of the most recent estimated per share NAV. The redemption price for shares purchased pursuant to the DRIP will be 100% of the most recent estimated per share NAV, as determined by the Board. See the discussion of the updated estimated per share NAV of the Company’s common stock effective March 30, 2020 in Note 16 — 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 100 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, 2019 , 2018 and 2017 , the Company redeemed app roximately 508,000 , 514,000 and 492,000 shares, respectively, under the share redemption program for $10.3 million , $11.5 million and $11.7 million , respectively. Distributions Payable and Distribution Poli cy 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 of such class of shares as of the close of business on each day of the period commencing on January 1, 2018 and ending on March 31, 2019. The Board 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 commencing on January 1, 2018 and ending on March 31, 2019, 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). In addition, the Board authorized a daily distribution, based on 365 days in the calendar year, of $0.003232877 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 April 1, 2019 and ending on December 31, 2019. The Board 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 April 1, 2019 and ending on December 31, 2019, equal to $0.003232877 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). The Board also authorized a daily distribution, based on 366 days in the calendar year, of $0.003224044 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, 2020 and ending on March 31, 2020. The Board 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, 2020 and ending on March 31, 2020, equal to $0.003224044 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, 2019 , the Company had distributions payable of $1.7 million . Subsequent to December 31, 2019 , the Board reaffirmed the declaration and payment of distributions for the month of March 2020 at the rate previously declared on November 6, 2019, which distributions will be paid on or around April 1, 2020. Given the impact of the novel strain of the coronavirus (“COVID-19”) outbreak, the Board has decided to defer making a determination as to the amount and timing of distributions for the second quarter of 2020 until such time that the Company has greater visibility into the impact that the COVID-19 outbreak will have on the Company’s tenants’ ability to continue to pay rent on their leases on a timely basis or at all, the degree to which federal, state or local governmental authorities grant rent relief or other relief or amnesty programs applicable to the Company’s tenants, the Company’s ability to access the capital markets, and on the United States and worldwide financial markets and economy. Equity-Based Compensation On August 10, 2018, the Board approved the adoption of the Company’s 2018 Equity Incentive Plan (the “Plan”), under which 400,000 of the Company’s common shares were reserved for issuance and share awards of 392,000 are available for future grant as of December 31, 2019 . As of December 31, 2019 , the Company has granted awards of approximately 2,500 restricted Class A Shares to each of the independent members of the Board (approximately 7,600 restricted shares in aggregate) under the Plan. As of December 31, 2019 , 3,600 of the restricted Class A Shares had vested based on one year of continuous service. The remaining 4,000 shares issued had not vested or been forfeited as of December 31, 2019 . The fair value of the Company’s share awards is determined using the Company’s NAV per share on the date of grant. Compensation expense related to these restricted Class A Shares is recognized over the vesting period. The Company recorded compensation expense of $79,000 and $20,000 for the years ended December 31, 2019 and 2018, respectively, related to these restricted Class A Shares, which is included in general and administrative expenses in the accompanying consolidated statements of operations. As of December 31, 2019 , there was $59,000 of total unrecognized compensation expense related to the restricted A Shares issued in 2019, which will be recognized ratably over the remaining period of service prior to October 1, 2020.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 13 — 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, 2019 , 2018 and 2017 : Year Ended December 31, Character of Distributions: 2019 2018 2017 Ordinary dividends — % 31.0 % 21.0 % Nondividend distributions 100.0 % 69.0 % 79.0 % Total 100.0 % 100.0 % 100.0 % During the years ended December 31, 2019 , 2018 and 2017 , the Company incurred state and local income and franchise taxes of $143,000 , $198,000 , and $150,000 , 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, 2019 , 2018 and 2017 . 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.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES	NOTE 14 — LEASES The Company’s real estate assets are leased to tenants under operating leases for which the terms, expirations and extension options vary. The Company’s operating leases do not convey to the lessee the right to purchase the underlying asset upon expiration of the lease period. To determine whether a contract contains a lease, the Company reviews contracts to determine if the agreement conveys the right to control the use of an asset. The Company adopted ASC 842, using the optional alternative transition method and used the effective date as the date of initial application. Consequently, financial information was not updated and the disclosures required under the new standard are not provided for dates and periods before January 1, 2019. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company elected to apply the practical expedient for all of the Company’s leases to account for the lease and non-lease components as a single, combined operating lease component under ASC 842. Non-lease components primarily consist of maintenance services, including CAM, real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. Non-lease components are considered to be variable rental and other property income and are recognized in the period incurred. As of December 31, 2019 , the leases had a weighted-average remaining term of 10.2 years. Certain leases include 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 negotiated terms and conditions. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2019 , the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2020 $ 46,800 2021 46,350 2022 45,062 2023 43,662 2024 41,163 Thereafter 274,468 Total $ 497,505 As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, as of December 31, 2018 (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 47,588 2020 47,108 2021 46,541 2022 44,949 2023 43,351 Thereafter 291,483 Total $ 521,020 A certain amount of the Company’s rental and other property income is from tenants with leases which are subject to contingent rent provisions. These contingent rents are subject to the tenant achieving periodic revenues in excess of specified levels. For the years ended December 31, 2019 , 2018 and 2017 , the amount of the contingent rent earned by the Company was not significant . Rental and other property income during the years ended December 31, 2019 , 2018 and 2017 consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Fixed rental and other property income (1) $ 48,089 $ 47,867 $ 40,078 Variable rental and other property income (2) 7,071 6,485 5,292 Total rental and other property income $ 55,160 $ 54,352 $ 45,370 ______________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent, net of bad debt expense.

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	NOTE 15 — QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2019 and 2018 (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, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 13,683 $ 13,652 $ 13,788 $ 14,037 Net income $ 1,013 $ 1,470 $ 790 $ 282 Basic and diluted net income per share - Class A common stock (1) $ 0.07 $ 0.09 $ 0.05 $ 0.02 Basic and diluted net income (loss) per share - Class T common stock (1) $ 0.01 $ 0.05 $ 0.01 $ (0.02 ) _______________________________________________________ (1) 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. December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 13,063 $ 13,585 $ 13,965 $ 13,739 Net income (loss) $ 544 $ 869 $ 892 $ (3,369 ) Basic and diluted net income (loss) per share - Class A common stock (1) $ 0.04 $ 0.06 $ 0.06 $ (0.19 ) Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.02 ) $ 0.00 $ 0.01 $ (0.25 ) __________________________________________________ (1) 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, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 — SUBSEQUENT EVENTS Subsequent to December 31, 2019, there was a global outbreak of COVID-19. The global and domestic response to the COVID-19 outbreak continues to rapidly evolve. Thus far, certain responses to the COVID-19 outbreak have included mandates from federal, state and/or local authorities that required temporary closure of or imposed limitations on the operations of certain non-essential retailers. The COVID-19 outbreak and associated responses could negatively impact future tenant sales and operations at the Company’s properties which could result in material impact to the Company’s future results of operations, cash flows and financial condition. The Company is unable to estimate the impact the novel coronavirus will have on its financial results at this time. Redemption of Shares of Common Stock Subsequent to December 31, 2019 , the Company redeemed approximately 98,000 shares for $1.9 million at an average per share price of $19.61 pursuant to the Company’s share redemption program. Management, in its discretion, limited the amount of shares redeemed for the three months ended December 31, 2019 to an amount equal to net proceeds the Company received from the sale of shares in the DRIP during the respective period. The remaining redemption requests received during the three months ended December 31, 2019 totaling approximately 901,000 shares went unfulfilled. Estimated Per Share NAV On March 25, 2020, the Board established an updated estimated per share NAV of the Company’s common stock as of December 31, 2019 , of $19.64 per share for both Class A Shares and Class T Shares. Because the estimated per share NAV as of December 31, 2019 is the same as the estimated per share NAV as of December 31, 2018, the Company will continue to issue Class A Shares and Class T Shares in the DRIP for $19.64 per share. Pursuant to the terms of the Company’s share redemption program, commencing on March 27, 2020, the updated estimated per share NAV of $19.64 for both Class A Shares and Class T Shares, as of December 31, 2019, will continue to serve as the most recent estimated value for purposes of the share redemption program, until such time as the Board determines a new estimated per share NAV. Acquisitions of Real Estate Assets Subsequent to December 31, 2019 , the Company acquired a 100% interest in two real estate properties for an aggregate purchase price of $9.7 million . The acquisitions were funded with proceeds from real estate dispositions and available borrowings. The Company has not completed its initial purchase price allocation with respect to these properties and therefore cannot provide similar disclosures to those included in Note 4 — Real Estate Assets in these consolidated unaudited financial statements for these properties.

SCHEDULE III - REAL ESTATE ASSE

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Real Estate Held for Investment: Aaron’s Arkadelphia, AR (h) $ 125 $ 748 $ — $ 873 $ 94 12/12/2014 2014 Academy Sports Cartersville, GA (h) 1,384 7,427 — 8,811 1,104 6/27/2014 2014 Advance Auto Fairmont, NC (h) 56 949 — 1,005 141 3/18/2014 2004 Hampton, VA (h) 474 759 — 1,233 81 9/25/2015 2005 Stratford, CT (h) 1,140 1,395 — 2,535 141 2/8/2016 2015 Aspen Dental Rogers, AR (h) 592 1,090 — 1,682 118 11/9/2015 2014 At Home Pearland, TX (h) 4,966 7,535 — 12,501 286 10/3/2018 2017 Bass Pro Shop Portage, IN (h) 1,400 4,044 87 5,531 590 10/22/2014 2006 BJ’s Wholesale Club Fort Myers, FL (h) 5,312 18,604 — 23,916 901 4/25/2018 2006 Blankenbaker Plaza Louisville, KY $9,894 3,557 11,430 580 15,567 1,641 10/23/2014 1999 Brynwood Square Rockford, IL (h) 1,194 10,515 97 11,806 1,767 10/23/2014 1983 Bob Evans Gallipolis, OH (h) 189 1,726 — 1,915 155 4/28/2017 1987 Hagerstown, MD (h) 644 1,503 — 2,147 126 4/28/2017 1995 Mansfield, OH (h) 719 983 — 1,702 100 4/28/2017 1989 Monroe, MI (h) 477 1,514 — 1,991 127 4/28/2017 2004 Northwood, OH (h) 231 1,738 — 1,969 148 4/28/2017 1998 Peoria, IL (h) 205 790 — 995 63 4/28/2017 2004 Piqua, OH (h) 416 1,359 — 1,775 131 4/28/2017 1989 Buffalo Wild Wings & Shoe Carnival Salina, KS (h) 689 2,023 — 2,712 311 1/26/2015 2014 Burger King Yukon, OK (h) 519 587 — 1,106 78 9/30/2014 2000 Burlington Coat Factory Bangor, ME (h) 1,124 3,890 — 5,014 578 12/22/2014 2001 Camping World Fort Myers, FL (h) 2,925 4,308 — 7,233 369 4/11/2017 2003 CVS Riverton, NJ (h) 699 4,657 — 5,356 671 6/30/2014 2007 Derby Marketplace Derby, KS (h) 1,667 8,675 — 10,342 700 8/22/2017 2015 Dollar General Athens, WV (h) 400 1,132 — 1,532 158 1/16/2015 2014 Autaugaville, AL (h) 130 827 — 957 109 2/26/2015 2014 Bluefield, WV (h) 250 993 — 1,243 144 6/29/2015 2015 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Dollar General (continued): Braham, MN (h) $ 66 $ 906 $ — $ 972 $ 121 10/24/2014 2014 Charleston, WV (h) 383 963 — 1,346 134 2/27/2015 2014 Charleston, WV (h) 361 863 — 1,224 130 6/29/2015 2015 Clarion, IA (h) 128 860 — 988 115 10/24/2014 2014 Collinsville, AL (h) 139 870 — 1,009 120 11/20/2014 2014 Dothan, AL (h) 208 722 — 930 97 2/26/2015 2014 Elmwood, IL (h) 154 808 — 962 110 9/3/2014 2012 Glouster, OH (h) 334 986 — 1,320 138 3/24/2015 2015 Huntington, WV (h) 293 1,023 — 1,316 127 5/15/2015 2015 Huntington, WV (h) 278 989 — 1,267 134 9/29/2014 2014 Junction City, OH (h) 68 823 — 891 112 9/25/2014 2014 Lineville, AL (h) 102 1,128 — 1,230 149 2/26/2015 2014 Logansport, IN (h) 69 942 — 1,011 146 3/31/2014 2014 Moundridge, KS (h) 190 668 — 858 107 3/18/2014 2014 Oneonta, AL (h) 93 917 — 1,010 127 11/20/2014 2014 Pipestone, MN (h) 130 891 — 1,021 121 9/19/2014 2014 Ridgeley, WV (h) 73 1,122 — 1,195 156 2/27/2015 2014 Selma, AL (h) 18 851 — 869 112 2/26/2015 2014 Selma, AL (h) 146 903 — 1,049 125 11/4/2014 2014 Semmes, AL (h) 139 837 — 976 111 2/26/2015 2014 Shorter, AL (h) 91 935 — 1,026 129 11/20/2014 2014 Sissonville, WV (h) 344 827 — 1,171 116 3/24/2015 2015 South Charleston, WV (h) 335 991 — 1,326 134 4/6/2015 2014 Talladega, AL (h) 82 789 — 871 105 2/26/2015 2014 Virden, IL (h) 65 1,111 — 1,176 145 11/14/2014 2014 Wakarusa, IN (h) 161 1,038 — 1,199 141 9/3/2014 2012 Willard, MO (h) 258 904 — 1,162 125 11/14/2014 2014 Wolcottville, IN (h) 151 910 — 1,061 124 9/3/2014 2013 Duluth Trading Company Denton, TX (h) 1,018 3,671 — 4,689 182 6/28/2018 2018 Madison, AL (h) 1,291 3,684 — 4,975 50 7/22/2019 2019 Noblesville, IN (h) 958 3,856 — 4,814 339 3/29/2017 2017 Fairlane Green II Allen Park, MI (h) 8,551 6,866 160 15,577 631 8/30/2017 2006 Family Dollar Bearden, AR (h) 86 678 — 764 85 3/23/2015 2014 Cabot, AR (h) 220 895 — 1,115 113 2/13/2015 2014 Columbus, OH (h) 359 1,032 — 1,391 142 2/20/2015 2014 Hobbs, NM (h) 350 782 — 1,132 103 12/19/2014 2014 Lewiston, ME (h) 295 1,015 — 1,310 154 2/13/2015 2014 Morgan, UT (h) 235 858 — 1,093 132 8/18/2014 2013 New Roads, LA (h) 122 759 — 881 95 3/23/2015 2014 Roswell, NM (h) 379 739 — 1,118 102 9/12/2014 2014 Salina, UT (h) 224 913 — 1,137 139 8/18/2014 2014 San Antonio, TX (h) 345 905 — 1,250 133 12/12/2014 2014 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Family Dollar (continued): San Antonio, TX (h) $ 344 $ 1,024 $ — $ 1,368 $ 143 2/20/2015 2014 Talladega, AL (h) 186 968 — 1,154 130 12/12/2014 2014 Tennessee Colony, TX (h) 89 829 — 918 114 11/21/2014 2014 Valley, AL (h) 184 928 — 1,112 121 2/13/2015 2014 Walthourville, GA (h) 327 952 — 1,279 124 2/13/2015 2014 Warrenville, SC (h) 98 1,014 — 1,112 132 2/27/2015 2014 Fresh Thyme Farmers Market Lafayette, IN (h) 410 6,208 — 6,618 935 10/17/2014 2014 Ypsilanti Township, MI (h) 1,141 7,486 — 8,627 656 2/21/2017 2016 Houma Crossing Houma, LA $12,264 5,359 17,574 534 23,467 2,734 9/25/2014 2008 Hy-Vee Omaha, NE (h) 2,225 7,020 — 9,245 606 5/15/2017 1998 Kohl’s Eagan, MN (h) 3,226 5,579 685 9,490 599 2/18/2016 1994 Kroger Bay City, MI (h) 1,045 5,224 — 6,269 776 9/24/2014 2012 Lawton Marketplace Lawton, OK 19,247 3,169 29,070 11 32,250 4,390 11/5/2014 2013 Lowe’s Hermitage, PA (h) 2,499 10,517 — 13,016 1,060 3/9/2016 1996 Mattress Firm Draper, UT (h) 651 1,510 — 2,161 217 12/19/2014 2014 Lake City, FL (h) 656 1,075 — 1,731 145 12/9/2014 2014 Natural Grocers Heber, UT (h) 1,074 4,637 — 5,711 296 1/10/2018 2017 O’Reilly Auto Parts Bennettsville, SC (h) 375 910 — 1,285 107 6/9/2015 2014 Flowood, MS (h) 576 921 — 1,497 95 1/29/2016 2015 Iron Mountain, MI (h) 121 1,211 — 1,332 156 11/21/2014 2014 Pick ’N Save Waterford, WI (h) 684 3,317 — 4,001 262 10/2/2017 1995 Waupaca, WI (h) 2,066 7,294 328 9,688 442 12/22/2017 2001 Raising Cane’s Murphy, TX (h) 648 1,960 — 2,608 268 9/30/2014 2014 Reno, NV (h) 1,119 2,174 — 3,293 294 12/18/2014 2013 Safeway Juneau, AK (h) 3,082 8,739 — 11,821 293 11/14/2018 1994 Shoppes of Gary Farms Bowling Green, KY 11,206 2,039 13,730 24 15,793 1,962 11/24/2014 2013 Shops at Abilene Abilene, TX 14,989 3,414 21,270 910 25,594 3,210 12/11/2014 2004 Smart Foodservice Warehouse Stores Salt Lake City, UT (h) 687 4,270 — 4,957 246 3/2/2018 2016 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Sprouts Lawrence, KS (h) $ 1,957 $ 5,515 $ — $ 7,472 $ 374 11/27/2017 2015 Steinhafels Greenfield, WI (h) 1,670 6,731 — 8,401 119 5/1/2019 2017 Stop & Shop North Kingstown, RI (h) 668 998 — 1,666 136 8/6/2014 1979 Take 5 Andrews, TX (h) 67 375 — 442 7 6/18/2019 1991 Bedford, TX (h) 155 328 — 483 6 6/18/2019 1994 Burleson, TX (h) 556 418 — 974 7 6/18/2019 2009 Burleson, TX (h) 376 214 — 590 4 6/18/2019 1994 Burleson, TX (h) 301 434 — 735 7 6/18/2019 2010 Cedar Hill, TX (h) 289 350 — 639 6 6/18/2019 2003 Hereford, TX (h) 40 216 — 256 4 6/18/2019 1985 Irving, TX (h) 207 316 — 523 6 6/18/2019 1993 Irving, TX (h) 90 186 — 276 4 6/18/2019 1987 Lubbock, TX (h) 206 221 — 427 4 6/18/2019 1989 Midland, TX (h) 93 292 — 385 5 6/18/2019 2002 Mineral Wells, TX (h) 114 274 — 388 6 6/18/2019 1995 Tractor Supply Blytheville, AR (h) 169 2,413 — 2,582 381 3/11/2015 2014 Carlyle, IL (h) 289 2,566 — 2,855 169 11/3/2017 2017 Logan, WV (h) 608 2,822 — 3,430 201 8/10/2017 2016 Midland, NC (h) 213 2,317 — 2,530 343 6/20/2014 2013 Shelbyville, IL (h) 287 2,556 — 2,843 169 11/3/2017 2017 United Oil Carson, CA (h) 3,774 1,892 — 5,666 251 9/30/2014 2011 Fallbrook, CA (h) 3,037 725 — 3,762 97 9/30/2014 2012 Harbor City, CA (h) 2,391 1,096 — 3,487 146 9/30/2014 2002 Hawthorne, CA (h) 1,744 363 — 2,107 48 9/30/2014 2002 Lakewood, CA (h) 2,457 1,423 — 3,880 189 9/30/2014 1997 Long Beach, CA (h) 2,129 777 — 2,906 104 9/30/2014 2003 Los Angeles, CA (h) 2,761 1,235 — 3,996 164 9/30/2014 1999 Los Angeles, CA (h) 3,499 860 — 4,359 114 9/30/2014 2001 San Clemente, CA (h) 3,447 985 — 4,432 131 9/30/2014 2003 San Diego, CA (h) 2,002 284 — 2,286 37 9/30/2014 2006 San Diego, CA (h) 3,633 783 — 4,416 104 9/30/2014 2009 San Diego, CA (h) 1,767 705 — 2,472 94 9/30/2014 2014 Santa Ana, CA (h) 2,090 598 — 2,688 79 9/30/2014 2008 Vacant Raleigh, NC (h) 431 1,121 (622 ) 930 — 9/12/2014 2014 Vitamin Shoppe Taylor, MI (h) 820 399 — 1,219 51 1/29/2015 2015 Walgreens Baton Rouge, LA (h) 822 4,257 — 5,079 566 9/26/2014 2006 Clinton Township, MI $4,275 2,399 2,977 — 5,376 416 11/26/2014 2000 Initial Costs to Company Gross Amount at Total Which Carried Accumulated Buildings & Adjustment At December 31, 2019 Depreciation Date Date Description (a) Encumbrances Land Improvements to Basis (b) (c) (d) (e) (e) (f) (g) Acquired Constructed Walgreens (continued): Greenville, OH (h) $ 953 $ 3,164 $ — $ 4,117 $ 401 12/15/2014 2006 Harrison, AR $4,825 353 5,184 — 5,537 727 11/26/2014 2005 Indianapolis, IN 4,675 1,238 4,734 — 5,972 667 11/26/2014 1999 Kilgore, TX (h) 588 5,074 — 5,662 713 6/27/2014 2007 Kokomo, IN (h) 204 3,408 — 3,612 454 9/26/2014 2006 Lees Summit, MO 4,250 1,008 4,270 — 5,278 597 11/26/2014 1997 Richmond, IN (h) 138 4,923 — 5,061 654 9/26/2014 2006 San Antonio, TX (h) 2,051 6,379 — 8,430 847 9/26/2014 2005 Siloam Springs, AR 3,900 933 4,146 — 5,079 581 11/26/2014 2007 Slidell, LA 3,075 1,557 2,714 — 4,271 385 11/26/2014 1996 Whiteville, NC (h) 888 3,453 — 4,341 460 9/26/2014 2007 West Marine Chicago, IL (h) 5,546 5,748 — 11,294 648 8/28/2015 2015 Western Crossing Jacksonville, NC (h) 2,507 8,370 — 10,877 593 8/18/2017 2015 Winn-Dixie Amite, LA (h) 286 2,297 — 2,583 463 9/30/2014 1994 $ 92,600 $ 154,078 $ 434,728 $ 2,794 $ 591,600 $ 49,995 As of December 31, 2019 , the Company owned 141 retail properties and seven anchored shopping centers. (b) Consists of capital expenditures and real estate development costs, and impairment charges. (c) The aggregate cost for federal income tax purposes was $604.9 million . (d) The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017 Balance, beginning of period $ 609,834 $ 559,836 $ 450,556 Additions: Acquisitions 19,491 63,595 109,010 Improvements 1,249 1,625 270 Total additions 20,740 65,220 109,280 Deductions: Cost of real estate sold (38,351 ) (10,288 ) — Other (including provisions for impairment of real estate assets) (623 ) (4,934 ) — Total deductions (38,974 ) (15,222 ) — Balance, end of period $ 591,600 $ 609,834 $ 559,836 (e) Gross intangible lease assets of $91.9 million and the associated accumulated amortization of $26.0 million are not reflected in the table above. (f) The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017 Balance, beginning of period $ 41,208 $ 29,777 $ 19,295 Additions: Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired 12,484 12,020 10,238 Improvements - Depreciation expense for tenant improvements and building equipment 128 608 244 Total additions 12,612 12,628 10,482 Deductions: Cost of real estate sold (3,670 ) — — Other (including provisions for impairment of real estate assets) (155 ) (1,197 ) — Total deductions (3,825 ) (1,197 ) — Balance, end of period $ 49,995 $ 41,208 $ 29,777 (g) 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 , site improvements are amortized over 15 years , and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter. (h) Property is included in the Credit Facility’s borrowing base. As of December 31, 2019 , the Company had $251.5 million outstanding under the Credit Facility.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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.
Reclassifications	Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation.
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 Assets, Recoverability of Real Estate Assets, Assets Held for Sale and Disposition of Real Estate Assets	The assumptions and uncertainties utilized in the evaluation of the impairment of real estate assets are discussed in detail in Note 3 — Fair Value Measurements . See also Note 4 — Real Estate Assets for further discussion regarding real estate acquisition and disposition activity. The Company’s impairment assessment as of December 31, 2019 was based on the most current information available to the Company, including expected holding periods. If the Company’s expected holding periods for assets change, subsequent tests for impairment could result in impairment charges in the future. The Company cannot provide any assurance that material impairment charges with respect to the Company’s real estate assets will not occur during 2020 or in future periods. Assets Held for Sale When a real estate asset is identified by the Company as held for sale, the Company will cease recording depreciation and amortization of the assets related to the property and estimate its 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 is then recorded to reflect the estimated fair value of the property, net of selling costs. Disposition of Real Estate Assets Gains and losses from dispositions are recognized once the various criteria relating to the terms of sale and any subsequent involvement by the Company with the asset sold are met. A discontinued operation includes only the disposal of a component of an entity and represents a strategic shift that has (or will have) a major effect on an entity’s financial results. The dispositions of the Company’s individual properties did not qualify for discontinued operations presentation, and thus, the results of the properties that were sold will remain in operating income, and any associated gains or losses from the disposition are included in gain (loss) on disposition of real estate, net in the accompanying consolidated statements of operations. Real Estate Assets Real estate assets are stated at cost, less accumulated depreciation and amortization. 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 Site improvements 15 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; changes in anticipated holding periods; 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.
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 and other intangibles, based in each case on their relative fair values. 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- 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, the 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- 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. Upon adoption of ASU 2017-01 (as defined below) in April 2017, contingent consideration arrangements for asset acquisitions are recognized when the contingency is resolved. 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. In April 2017, the Company elected to early adopt Accounting Standards Update (“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. Beginning in April 2017, all real estate acquisitions qualified as asset acquisitions, and as such, acquisition-related fees and certain acquisition-related expenses related to these asset acquisitions are now capitalized and allocated to tangible and intangible assets and liabilities as described above. Other acquisition-related expenses, such as advisor reimbursements, continue to be expensed as incurred and are included in transaction-related expenses in the accompanying consolidated statements of operations. Prior to the adoption of ASU 2017-01 in April 2017, all of the Company’s real estate acquisitions were accounted for as business combinations and, as such, acquisition-related expenses related to these business combination acquisitions were expensed as incurred. Prior to April 2017, acquisition-related expenses included within transaction-related expenses in the Company’s consolidated statements of operations primarily consisted of legal, deed transfer and other costs related to real estate purchase transactions, including costs incurred for deals that were not consummated. The Company expects its future acquisitions to qualify as asset acquisitions and, as such, the Company will allocate the purchase price to acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis.
Cash and Cash Equivalents, Restricted Cash and Escrows	Cash and Cash Equivalents, Restricted Cash and Escrows Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds. 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. 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.
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 straight-line method, which approximates the effective interest method . Unamortized deferred financing costs are written off when the associated debt is extinguished or repaid prior to 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. Costs incurred in seeking financing 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 CCO Capital a distribution and stockholder servicing fee for Class T Shares sold in the primary portion of the Offerings. 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 Initial Offering. Beginning on October 5, 2016, the calculation of the daily amount of the 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 Offerings. The aggregate distribution and stockholder servicing fee for Class T Shares 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 Offerings. 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 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, or a lower limit agreed upon between the dealer manager and the participating broker-dealer at the time such Class T Shares were sold; (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 offering in which such Class T Shares were purchased (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 (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). CCO Capital may, in its discretion, reallow to participating broker-dealers all or a portion of the distribution and stockholder servicing fee. At the time the Company ceases paying the distribution and stockholder servicing fee with respect to an outstanding Class T Share pursuant to the provisions above, such Class T Share will convert into a number of Class A Shares (including any fractional shares) with an equivalent NAV as such share. The distribution and stockholder servicing fee is paid monthly in arrears. An estimated liability for future distribution and stockholder servicing fees payable to CCO Capital was recognized at the time each Class T Share was 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 Management, and certain of its affiliates, received and will continue to receive, fees, reimbursements and compensation in connection with services provided relating to the Offerings 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 derivative instrument that is designated as a hedge is recorded as other comprehensive (loss) income . 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 the maximum amount that is 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.
Leases and Revenue Recognition	Leases The Company adopted ASU No. 2016-02, Leases, (Topic 842) (“ASC 842”), on January 1, 2019 using the optional alternative transition method for financial information and related disclosures. The Company elected the “package of practical expedients,” which permits the Company to not reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. The Company has lease agreements with lease and non-lease components. The Company has elected to not separate non-lease components from lease components for all classes of underlying assets (primarily real estate assets) and will account for the combined components as rental and other property income. Non-lease components included in rental and other property income include certain tenant reimbursements for maintenance services (including common-area maintenance services or “CAM”), real estate taxes, insurance and utilities paid for by the lessor but consumed by the lessee. As a lessor, the Company has further determined that this policy will be effective only on a lease that has been classified as an operating lease and the revenue recognition pattern and timing is the same for both types of components. The Company is not party to any material leases where it is the lessee. Significant judgments and assumptions are inherent in not only determining if a contract contains a lease, but also the lease classification, terms, payments, and, if needed, discount rates. Judgments include the nature of any options, including if they will be exercised, evaluation of implicit discount rates and the assessment and consideration of “fixed” payments for straight-line rent revenue calculations. Lease costs represent the initial direct costs incurred in the origination, negotiation and processing of a lease agreement. Such costs include outside broker commissions and other independent third-party costs and are amortized over the life of the lease on a straight-line basis. Costs related to salaries and benefits, supervision, administration, unsuccessful origination efforts and other activities not directly related to completed lease agreements are expensed as incurred. Leasing commissions subsequent to successful lease execution are capitalized. Revenue Recognition Rental and other property income is primarily derived from fixed contractual payments from operating leases and, therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. 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. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes 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. Upon the determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be less than probable is recorded on a cash basis until collectability becomes probable. Management’s estimate of the collectability of lease-related receivables is based on the best information available to management. The Company does not use a general reserve approach and lease-related receivables are adjusted and taken against rental and other property income only when collectability becomes not probable.
Income Taxes	Income Taxes The Company elected to be taxed, and currently qualifies, as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with the 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) and Distributions Per Share	Earnings (Loss) and Distributions 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 can result 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. Distributions per share are calculated based on the authorized daily distribution rate.
Offering and Related Costs	Offering and Related Costs CR V Management 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 Offerings. As of December 31, 2019 , CR V Management had paid organization and offering costs in excess of the 2.0% in connection with the Offerings. 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 Offerings. 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 assets 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 new accounting requirements may have on the Company’s accounting and related reporting and disclosures in the Company’s consolidated financial statements. In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), which was subsequently amended by ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses (“ASU 2018-19”) in November 2018. Subsequently, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU No. 2019-10 and ASU No. 2019-11 to provide additional guidance on the credit losses standard. ASU 2016-13 and the related updates are intended to improve financial reporting requiring more timely recognition 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, 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 under current GAAP. ASU 2018-19 clarified that receivables arising from operating leases are not within the scope of Topic 326. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases . ASU 2016-13 and ASU 2018-19 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company will adopt this ASU during the first quarter of fiscal year 2020 and does not expect it will have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU 2018-13 are effective January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of ASU 2018-13 are to be applied retrospectively, and early adoption is permitted. The Company will adopt this ASU during the first quarter of fiscal year 2020 and does not expect it will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-16, Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (“OIS”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2018-16”). The amendments in this ASU permit the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes or another acceptable benchmark interest rate. The SOFR is a volume-weighted median interest rate that is calculated daily based on overnight transactions from the prior day’s activity in specified segments of the U.S. Treasury repo market. It has been selected as the preferred replacement for the U.S. dollar London Interbank Offered Rate (“LIBOR”), which will be phased out by the end of 2021. ASU 2018-16 is effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2018-16 is required to be adopted on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. The Company currently uses LIBOR as its benchmark interest rate in the Company’s interest rate swaps associated with the Company’s LIBOR-based variable rate borrowings, including one interest rate swap agreement entered into since the date of adoption of ASU 2018-16. The Company evaluated the effect of this new benchmark interest rate option, and does not believe this ASU will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities . The guidance changes the guidance for determining whether a decision-making fee is a variable interest. Under the new ASU, indirect interests held through related parties under common control will now be considered on a proportional basis when determining whether fees paid to decision makers and service providers are variable interests. Such indirect interests were previously treated the same as direct interests. This ASU is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company is evaluating the impact of this ASU’s adoption, and does not believe this ASU will have a material impact on its consolidated financial statements.
Fair Value 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.
Fair Value of Financial Instruments	The following describes the methods the Company uses to estimate the fair value of the Company’s financial assets and liabilities: Credit facility and notes payable — 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. 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, 2019 and 2018 , 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, accrued expenses and accounts payable , 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
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 Site improvements 15 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, 2019
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, 2019 and 2018 (in thousands): Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2019 (Level 1) (Level 2) (Level 3) Financial asset: Interest rate swap $ 50 $ — $ 50 $ — Financial liabilities: Interest rate swaps $ (5,505 ) $ — $ (5,505 ) $ — Balance as of Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant December 31, 2018 (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swaps $ 832 $ — $ 832 $ — Financial liability: Interest rate swap $ (1,165 ) $ — $ (1,165 ) $ —
Fair Value Measurements, Nonrecurring	The following table presents the impairment charges by asset class recorded during the years ended December 31, 2019 and 2018 (in thousands): Year Ended December 31, 2019 2018 Asset class impaired: Land $ 144 $ 736 Buildings and improvements 323 3,001 Intangible lease assets 221 212 Intangible lease liabilities — (155 ) Total impairment loss $ 688 $ 3,794

Real Estate Assets (Tables)

Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Real Estate Properties	The following table summarizes the purchase price allocation for the 2017 Asset Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Asset Acquisitions Land $ 26,647 Buildings and improvements 68,922 Acquired in-place leases and other intangibles 22,673 Acquired above-market leases 1,665 Intangible lease liabilities (873 ) Total purchase price $ 119,034 The following table summarizes the purchase price allocations for the 2019 Asset Acquisitions purchased during the year ended December 31, 2019 (in thousands): 2019 Asset Acquisitions Land $ 5,454 Buildings and improvements 14,037 Acquired in-place leases and other intangibles (1) 11,465 Intangible lease liability (2) (316 ) Total purchase price $ 30,640 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 19.8 years. (2) The weighted average amortization period for the acquired intangible lease liability was 14.9 years. The following table summarizes the purchase price allocation for the 2018 Asset Acquisitions purchased during the year ended December 31, 2018 (in thousands): 2018 Asset Acquisitions Land $ 16,139 Buildings and improvements 47,456 Acquired in-place leases and other intangibles (1) 8,488 Intangible lease liabilities (2) (655 ) Total purchase price $ 71,428 ______________________ (1) The weighted average amortization period for acquired in-place leases and other intangibles was 17.0 years. (2) The weighted average amortization period for acquired intangible lease liabilities was 19.2 years. The following table summarizes the consideration transferred for the 2017 Acquisitions (in thousands): 2017 Acquisitions Real estate assets: Purchase price of asset acquisitions $ 119,034 Purchase price of business combinations 14,878 Total purchase price of real estate assets acquired (1) $ 133,912 ______________________ (1) The weighted average amortization period for the 2017 Acquisitions was 13.4 years for acquired in-place leases and other intangibles, 16.6 years for acquired above-market leases and 12.9 years for acquired intangible lease liabilities.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the purchase price allocations for the 2017 Business Combination Acquisitions purchased during the year ended December 31, 2017 (in thousands): 2017 Business Combination Acquisitions Land $ 2,099 Buildings and improvements 11,342 Acquired in-place leases and other intangibles 1,437 Total purchase price $ 14,878
Business Acquisition, Pro Forma Information	The table below presents the Company’s estimated revenue and net income, on a pro forma basis, for the years ended December 31, 2017 and 2016 (in thousands): Year Ended Year Ended December 31, 2017 December 31, 2016 Pro forma basis (unaudited): Revenue $ 45,568 $ 41,572 N et income $ 1,644 $ 1,058

Intangible Lease Assets and L_2

Intangible Lease Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets and liabilities	Intangible lease assets and liabilities consisted of the following as of December 31, 2019 and 2018 (in thousands, except weighted average life remaining): As of December 31, 2019 2018 Intangible lease assets: In-place leases and other intangibles, net of accumulated amortization of $23,013 and $19,389, respectively (with a weighted average life remaining of 11.5 years and 11.1 years, respectively) $ 61,035 $ 58,387 Acquired above-market leases, net of accumulated amortization of $2,973 and $3,128, respectively (with a weighted average life remaining of 10.8 years and 11.1 years, respectively) 4,914 5,481 Total intangible lease assets, net $ 65,949 $ 63,868 Intangible lease liabilities: Acquired below-market leases, net of accumulated amortization of $2,359 and $1,897, respectively (with a weighted average life remaining of 8.7 years and 8.9 years, respectively) $ 3,275 $ 3,497
Schedule of finite-lived intangible assets amortization expense	The following table summarizes the amortization related to the intangible lease assets and liabilities for the years ended December 31, 2019 , 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 In-place lease and other intangible amortization $ 6,107 $ 6,081 $ 5,001 Above-market lease amortization $ 567 $ 782 $ 835 Below-market lease amortization $ 539 $ 595 $ 561
Schedule of finite-lived intangible liabilities, future amortization expense	The following table summarizes the estimated amortization relating to the intangible lease assets and liabilities subsequent to December 31, 2019 (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2020 $ 5,971 $ 515 $ 432 2021 $ 5,909 $ 499 $ 414 2022 $ 5,714 $ 488 $ 333 2023 $ 5,413 $ 478 $ 321 2024 $ 4,995 $ 387 $ 287 Thereafter $ 33,033 $ 2,547 $ 1,488 Total $ 61,035 $ 4,914 $ 3,275
Schedule of finite-lived intangible assets, future amortization expense	The following table summarizes the estimated amortization relating to the intangible lease assets and liabilities subsequent to December 31, 2019 (in thousands): Amortization Year Ending December 31, In-Place Leases and Other Intangibles Above-Market Leases Below-Market Leases 2020 $ 5,971 $ 515 $ 432 2021 $ 5,909 $ 499 $ 414 2022 $ 5,714 $ 488 $ 333 2023 $ 5,413 $ 478 $ 321 2024 $ 4,995 $ 387 $ 287 Thereafter $ 33,033 $ 2,547 $ 1,488 Total $ 61,035 $ 4,914 $ 3,275

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (dollar amounts in thousands): Outstanding Notional Amount as of December 31, 2019 Interest Rate (1) Effective Date Maturity Date Fair Value of Asset and (Liabilities) as of December 31, Balance Sheet Location 2019 2018 Interest Rate Swap Prepaid expenses, derivative assets and other assets $ 21,100 3.49% 1/15/2016 2/1/2021 $ 50 $ 832 Interest Rate Swaps Derivative liabilities, deferred rental income and other liabilities $ 220,000 3.90% to 4.45% 5/23/2018 to 4/25/2019 3/28/2022 to 3/27/2023 $ (5,505 ) $ (1,165 ) _____________________________________ (1) The interest rates consist of the underlying index swapped to a fixed rate and the applicable interest rate spread as of December 31, 2019 .

Credit Facility and Notes Pay_2

Credit Facility and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the debt balances as of December 31, 2019 and 2018 , and the debt activity for the year ended December 31, 2019 (in thousands): During the Year Ended December 31, 2019 Balance as of December 31, 2018 Debt Issuance, (1) Repayments and Modifications Accretion Balance as of December 31, 2019 Credit facility $ 258,000 $ 46,700 $ (53,200 ) $ — $ 251,500 Fixed rate debt 92,600 — — — 92,600 Total debt 350,600 46,700 (53,200 ) — 344,100 Deferred costs – credit facility (2) (1,668 ) (36 ) — 402 (1,302 ) Deferred costs – fixed rate debt (440 ) (1 ) — 154 (287 ) Total debt, net $ 348,492 $ 46,663 $ (53,200 ) $ 556 $ 342,511 ____________________________________ (1) Includes deferred financing costs incurred during the period. (2) Deferred costs related to the term portion of the Credit Facility, as defined below.
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal repayments for the Company’s outstanding debt subsequent to December 31, 2019 (in thousands): Year Ending December 31, Principal Repayments 2020 $ 388 2021 68,009 2022 31,928 2023 220,448 2024 23,327 Thereafter — Total $ 344,100

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow disclosures for the years ended December 31, 2019 , 2018 and 2017 are as follows (in thousands): Year Ended December 31, 2019 2018 2017 Supplemental Disclosures of Non-Cash Investing and Financing Activities: Common stock issued through distribution reinvestment plan $ 9,342 $ 11,732 $ 10,696 Distributions declared and unpaid $ 1,669 $ 2,220 $ 2,049 Change in accrued distribution and stockholder servicing fees $ (4 ) $ 493 $ 1,013 Accrued capital expenditures $ 114 $ 7 $ 70 Change in fair value of interest rate swaps $ (5,122 ) $ (1,178 ) $ 1,209 Supplemental Cash Flow Disclosures: Interest paid $ 13,986 $ 13,167 $ 10,466 Cash paid for taxes $ 154 $ 191 $ 79

Related-Party Transactions an_2

Related-Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2019
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 Management and its affiliates related to the services described above during the periods indicated (in thousands): Year Ended December 31, 2019 2018 2017 Selling commissions $ 47 $ 1,498 $ 4,021 Dealer manager fees $ 27 $ 638 $ 1,553 Other organization and offering expenses $ 114 $ 873 $ 1,766 Distribution and stockholder servicing fees (1) $ 371 $ 371 $ 197 Acquisition fees and expenses $ 742 $ 1,861 $ 3,077 Disposition fees $ 326 $ 68 $ — Advisory fees and expenses $ 6,159 $ 6,248 $ 5,442 Operating expenses $ 1,325 $ 2,079 $ 2,100 ______________________ (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 CCO Capital of $869,000 and $1.2 million as of December 31, 2019 and 2018 , respectively, 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 .

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 , 2018 and 2017 : Year Ended December 31, Character of Distributions: 2019 2018 2017 Ordinary dividends — % 31.0 % 21.0 % Nondividend distributions 100.0 % 69.0 % 79.0 % Total 100.0 % 100.0 % 100.0 %

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2019 , the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands): Year Ending December 31, Future Minimum Rental Income 2020 $ 46,800 2021 46,350 2022 45,062 2023 43,662 2024 41,163 Thereafter 274,468 Total $ 497,505
Schedule Of Future Minimum Rental Income for Operating Leases - ASC 840	As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, as of December 31, 2018 (in thousands): Year Ending December 31, Future Minimum Rental Income 2019 $ 47,588 2020 47,108 2021 46,541 2022 44,949 2023 43,351 Thereafter 291,483 Total $ 521,020
Schedule of Rental and Other Property Income	Rental and other property income during the years ended December 31, 2019 , 2018 and 2017 consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Fixed rental and other property income (1) $ 48,089 $ 47,867 $ 40,078 Variable rental and other property income (2) 7,071 6,485 5,292 Total rental and other property income $ 55,160 $ 54,352 $ 45,370 ______________________ (1) Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases. (2) Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent, net of bad debt expense.

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 (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, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 13,683 $ 13,652 $ 13,788 $ 14,037 Net income $ 1,013 $ 1,470 $ 790 $ 282 Basic and diluted net income per share - Class A common stock (1) $ 0.07 $ 0.09 $ 0.05 $ 0.02 Basic and diluted net income (loss) per share - Class T common stock (1) $ 0.01 $ 0.05 $ 0.01 $ (0.02 ) _______________________________________________________ (1) 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. December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 13,063 $ 13,585 $ 13,965 $ 13,739 Net income (loss) $ 544 $ 869 $ 892 $ (3,369 ) Basic and diluted net income (loss) per share - Class A common stock (1) $ 0.04 $ 0.06 $ 0.06 $ (0.19 ) Basic and diluted net (loss) income per share - Class T common stock (1) $ (0.02 ) $ 0.00 $ 0.01 $ (0.25 ) __________________________________________________ (1) 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 - Nar

ORGANIZATION AND BUSINESS - Narrative (Details) $ / shares in Units, ft² in Millions	Apr. 30, 2019USD ($)	Dec. 31, 2019USD ($)ft²propertystates$ / shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 27, 2020$ / shares	Mar. 25, 2020$ / shares	Mar. 28, 2019USD ($)	Aug. 01, 2017USD ($)	Mar. 17, 2014USD ($)
Class of Stock [Line Items]
Number of real estate properties | property		148
Net rentable area | ft²		3.4
Number of states in which entity operates | states		34
Percentage of rentable space leased		98.30%
Common stock authorized								$ 1,200,000,000	$ 2,975,000,000
Issuance of common stock		$ 10,664,000	$ 43,394,000	$ 87,947,000
Common Class A
Class of Stock [Line Items]
Common stock authorized								660,000,000
Net asset value per share (USD per share) | $ / shares		$ 19.64
Common Class T
Class of Stock [Line Items]
Common stock authorized								540,000,000
Net asset value per share (USD per share) | $ / shares		$ 19.64
Initial public offering
Class of Stock [Line Items]
Common stock authorized									2,500,000,000
Distribution reinvestment plan
Class of Stock [Line Items]
Common stock authorized							$ 68,740,000	$ 300,000,000	$ 475,000,000
Issuance of common stock	$ 19,400,000
Distribution reinvestment plan | Subsequent Event
Class of Stock [Line Items]
Share price (USD per share) | $ / shares					$ 19.64	$ 19.64
Distribution reinvestment plan | Common Class A
Class of Stock [Line Items]
Issuance of common stock	17,400,000
Distribution reinvestment plan | Common Class T
Class of Stock [Line Items]
Issuance of common stock	2,000,000
Follow-On Offering, Public
Class of Stock [Line Items]
Issuance of common stock	53,900,000
Follow-On Offering, Public | Common Class A
Class of Stock [Line Items]
Issuance of common stock	32,900,000
Follow-On Offering, Public | Common Class T
Class of Stock [Line Items]
Issuance of common stock	21,000,000
Follow-On Offering
Class of Stock [Line Items]
Issuance of common stock	73,300,000
Common stock, shares deregistered, value	$ 1,400,000,000
Cole Operating Partnership V, LP
Class of Stock [Line Items]
General partner partnership interest percentage		100.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Reclassifications) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total rental and other property income		$ 54,352	$ 45,370
Bad debt expenses		39	39
Straight-line rental income	$ 1,741	1,558	1,501
Rental Income
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total rental and other property income		47,867	40,078
Tenant Reimbursements Income
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total rental and other property income		$ 6,485	$ 5,292

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Real Estate Investments) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Real Estate Properties [Line Items]
Impairment of real estate assets	$ 688,000	$ 3,794,000	$ 0
Number of impaired properties | property	1
Real estate held-for-sale	$ 0	$ 0
Building
Real Estate Properties [Line Items]
Acquired real estate asset, useful life	40 years
Site improvements
Real Estate Properties [Line Items]
Acquired real estate asset, useful life	15 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cash and Cash Equivalents, Restricted Cash and Escrows) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 456	$ 397	$ 346
Restricted Lockbox Accounts
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	102	94
Escrowed Investor Proceeds
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 354	$ 303

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Deferred Financing Costs) (Details) - Credit facility - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Deferred costs, net	$ 1,302	$ 1,668
Secured Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Deferred costs, net	$ 646	$ 923

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Distribution and Stockholder Servicing Fees) (Details)	Oct. 04, 2016	Oct. 04, 2016	Dec. 31, 2019
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		0.00219%	0.00274%
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 ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Earnings (Loss) and Distributions Per Share (Details)	12 Months Ended
	Dec. 31, 2019class_of_stockshares	Dec. 31, 2018shares	Dec. 31, 2017shares
Accounting Policies [Abstract]
Number of classes of common stock | class_of_stock	2
Potentially dilutive share equivalents (shares) | shares	0	0	0

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Offering and related costs) (Details)	Dec. 31, 2019
Maximum | Advisors | Other organization and offering expenses
Related Party Transaction [Line Items]
Organization and offering expense	2.00%

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Reportable segments) (Details)	12 Months Ended
	Dec. 31, 2019segment
Accounting Policies [Abstract]
Number of reportable segments	1

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Properties | property	1
Real estate property		$ 14,200,000
Impairment of real estate assets	$ 688,000	3,794,000	$ 0
Real estate investment property, net, fair value of impaired property		10,400,000
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of credit, fair value disclosure	344,100,000	350,600,000
Real estate property	1,600,000
Estimate of fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property	930,000
Real estate investment property, net, fair value of impaired property	930,000	10,400,000
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	$ 343,400,000	$ 350,700,000

FAIR VALUE MEASUREMENTS (Schedu

FAIR VALUE MEASUREMENTS (Schedule of Fair Value, Liabilities Measured on Recurring Basis) (Details) - Interest Rate Swaps - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 50	$ 832
Financial liability	(5,505)	(1,165)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liability	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	50	832
Financial liability	(5,505)	(1,165)
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liability	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Items

FAIR VALUE MEASUREMENTS (Items Measured at Fair Value on a Non-Recurring Basis) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	$ 688,000	$ 3,794,000	$ 0
Land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	144,000	736,000
Buildings and improvements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	323,000	3,001,000
Intangible lease assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	221,000	212,000
Intangible lease liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	$ 0	$ (155,000)

Real Estate Assets (Narrative)

Real Estate Assets (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)ft²property	Dec. 31, 2018USD ($)ft²property	Dec. 31, 2017USD ($)property
Business Acquisition [Line Items]
Purchase price of asset acquisitions	$ 683,535,000	$ 696,281,000
Acquisition related expenses	$ 92,000	$ 127,000	$ 738,000
Number of Impaired Properties | property	1
Area of real estate property impaired | ft²	5,000	78,000
Real estate property		$ 14,200,000
Real estate investment property, net, fair value of impaired property		10,400,000
Impairment of real estate assets	$ 688,000	$ 3,794,000	$ 0
Number of real estate properties acquired | property			20
Purchase price of asset acquisitions			$ 133,900,000
Number of businesses acquired (property) | property			2
Acquisitions, 2017
Business Acquisition [Line Items]
Acquisition related expenses			$ 407,000
Purchase price of business combinations			14,878,000
Revenue of acquiree since acquisition date			936,000
Income (loss) of acquiree since acquisition date			$ 147,000
2019 Asset Acquisition
Business Acquisition [Line Items]
Number of properties acquired through asset acquisitions | property	14
Purchase price of asset acquisitions	$ 30,640,000
Capitalized acquisition-related expenses	941,000
2018 Asset Acquisition
Business Acquisition [Line Items]
Number of properties acquired through asset acquisitions | property		6
Purchase price of asset acquisitions		$ 71,428,000
Capitalized acquisition-related expenses		2,000,000
2017 Asset Acquisitions
Business Acquisition [Line Items]
Number of properties acquired through asset acquisitions | property			18
Purchase price of asset acquisitions			$ 119,034,000
Capitalized acquisition-related expenses			$ 3,500,000
Carrying value
Business Acquisition [Line Items]
Real estate property	1,600,000
Estimate of fair value
Business Acquisition [Line Items]
Real estate property	930,000
Real estate investment property, net, fair value of impaired property	$ 930,000	$ 10,400,000
Anchored Shopping Center
Business Acquisition [Line Items]
Number of Impaired Properties | property		1

Real Estate Assets (Schedule of

Real Estate Assets (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Land	$ 153,934	$ 156,365
Buildings and improvements	437,666	453,531
Intangible lease assets	91,935	86,385
Total real estate assets, at cost	$ 683,535	$ 696,281
Market lease, weighted average useful life	8 years 8 months	8 years 10 months 24 days
Acquisitions, 2017
Business Acquisition [Line Items]
Market lease, weighted average useful life			12 years 11 months
Business Acquisition, Purchase Price Allocation [Abstract]
Land			$ 2,099
Buildings and improvements			11,342
Total purchase price			$ 14,878
Acquisitions, 2017 | Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life			13 years 4 months 11 days
Business Acquisition, Purchase Price Allocation [Abstract]
Acquired in-place leases and other intangibles			$ 1,437
Acquisitions, 2017 | Above-market lease amortization
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life			16 years 7 months 11 days
2019 Asset Acquisition
Business Acquisition [Line Items]
Land	$ 5,454
Buildings and improvements	14,037
Intangible lease assets	11,465
Intangible lease liabilities	(316)
Total real estate assets, at cost	$ 30,640
Market lease, weighted average useful life	14 years 10 months 24 days
2019 Asset Acquisition | Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life	19 years 9 months 18 days
2018 Asset Acquisition
Business Acquisition [Line Items]
Land		$ 16,139
Buildings and improvements		47,456
Intangible lease assets		8,488
Intangible lease liabilities		(655)
Total real estate assets, at cost		$ 71,428
Market lease, weighted average useful life		19 years 2 months 12 days
2018 Asset Acquisition | Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life		17 years
2017 Asset Acquisitions
Business Acquisition [Line Items]
Land			$ 26,647
Buildings and improvements			68,922
Intangible lease liabilities			(873)
Total real estate assets, at cost			119,034
2017 Asset Acquisitions | Acquired in-place leases and other intangibles
Business Acquisition [Line Items]
Intangible lease assets			22,673
2017 Asset Acquisitions | Above-market lease amortization
Business Acquisition [Line Items]
Intangible lease assets			$ 1,665

Real Estate Assets (Property Di

Real Estate Assets (Property Dispositions) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from disposition of real estate assets	$ 38,109	$ 10,217	$ 0
Gain (loss) on disposition of real estate, net	685	(421)	$ 0
Property Disposition 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of real estate assets	39,200
Net proceeds from disposition of real estate assets	38,100
Gain (loss) on disposition of real estate, net	$ 685
Property Disposition 2019 | Retail properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed | property	6
Property Disposition 2019 | Anchored Shopping Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed | property	1
Property Disposition 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of real estate assets		10,500
Net proceeds from disposition of real estate assets		10,200
Gain (loss) on disposition of real estate, net		$ (421)
Property Disposition 2018 | Anchored Shopping Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed | property		1
Affiliated entity | Disposition fees | Property Disposition 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expenses from transactions with related parties		$ 68

Real Estate Assets (Purchase Pr

Real Estate Assets (Purchase Price of Real Estate Investment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real estate assets:
Purchase price of asset acquisitions	$ 683,535	$ 696,281
Total purchase price of real estate assets acquired			$ 133,912
Market lease, weighted average useful life	8 years 8 months	8 years 10 months 24 days
Acquisitions, 2017
Real estate assets:
Purchase price of business combinations			$ 14,878
Market lease, weighted average useful life			12 years 11 months
2017 Asset Acquisitions
Real estate assets:
Purchase price of asset acquisitions			$ 119,034
Acquired in-place leases and other intangibles | Acquisitions, 2017
Real estate assets:
Acquired finite-lived intangible assets, weighted average useful life			13 years 4 months 11 days
Above-market lease amortization | Acquisitions, 2017
Real estate assets:
Acquired finite-lived intangible assets, weighted average useful life			16 years 7 months 11 days

Real Estate Assets (Business Ac

Real Estate Assets (Business Acquisition, Pro Forma Information) (Details) - Acquisitions, 2017 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pro forma basis (unaudited):
Revenue	$ 45,568	$ 41,572
Net income	$ 1,644	$ 1,058

Real Estate Assets (Property Co

Real Estate Assets (Property Concentrations) (Details)	12 Months Ended
	Dec. 31, 2019tenantproperty
Concentration Risk [Line Items]
Number of owned properties	148
Customer Concentration Risk | Sales Revenue, Services, Net
Concentration Risk [Line Items]
Number of tenants | tenant	1
Customer Concentration Risk | Sales Revenue, Services, Net | Pharmacy Industry
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Grocery Industry
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Discount Store Industry
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Sporting Good Industry
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%
Customer Concentration Risk | Sales Revenue, Services, Net | Walgreens
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Texas | Geographic Concentration Risk | Sales Revenue, Services, Net
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%
Number of owned properties	21

Intangible Lease Assets and L_3

Intangible Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible leased assets	$ 65,949	$ 63,868
Intangible lease liabilities	3,275	3,497
Accumulated amortization	26,000
Below market lease, accumulated amortization	$ 2,359	$ 1,897
Market lease, weighted average useful life	8 years 8 months	8 years 10 months 24 days
In-place leases and other intangibles
Finite-Lived Intangible Assets [Line Items]
Intangible leased assets	$ 61,035	$ 58,387
Accumulated amortization	$ 23,013	$ 19,389
Useful life	11 years 6 months	11 years 1 month
Above-market lease amortization
Finite-Lived Intangible Assets [Line Items]
Intangible leased assets	$ 4,914	$ 5,481
Accumulated amortization	$ 2,973	$ 3,128
Useful life	10 years 9 months 29 days	11 years 1 month 18 days

Intangible Lease Assets and L_4

Intangible Lease Assets and Liabilities (Schedule of finite-lived intangible assets amortization expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Below-market lease amortization	$ 539	$ 595	$ 561
In-place leases and other intangibles
Finite-Lived Intangible Assets [Line Items]
Amortization expense	6,107	6,081	5,001
Above-market lease amortization
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 567	$ 782	$ 835

Intangible Lease Assets and L_5

Intangible Lease Assets and Liabilities (Estimated Amortization of Intangible lease assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortization
Total	$ 65,949	$ 63,868
Amortization
2020	432
2021	414
2022	333
2023	321
2024	287
Thereafter	1,488
Total	3,275	3,497
In-place leases and other intangibles
Amortization
2020	5,971
2021	5,909
2022	5,714
2023	5,413
2024	4,995
Thereafter	33,033
Total	61,035	58,387
Above-market lease amortization
Amortization
2020	515
2021	499
2022	488
2023	478
2024	387
Thereafter	2,547
Total	$ 4,914	$ 5,481

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)	12 Months Ended
	Dec. 31, 2019USD ($)derivative	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of derivatives matured (derivative) | derivative	1
Number of derivatives entered into (derivative) | derivative	1
Number of derivatives held (derivative) | derivative	3
Derivatives, Fair Value [Line Items]
Amounts reclassified from other comprehensive (loss) income into income as interest expense	$ (76,000)	$ 238,000
Amounts reclassified from other comprehensive (loss) income into income as interest expense			$ (659,000)
Estimate of additional amounts to be reclassified during next twelve months	1,900,000
Designated as Hedging Instrument | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative liability, event of default, termination amount	5,500,000
Designated as Hedging Instrument | Interest Rate Swaps | Prepaid expenses, derivative assets and other assets
Derivatives, Fair Value [Line Items]
Notional amount	$ 21,100,000
Interest rate (percent)	3.49%
Fair Value of Asset and (Liabilities) as of December 31,	$ 50,000	832,000
Designated as Hedging Instrument | Interest Rate Swaps | Derivative liabilities, deferred rental income and other liabilities
Derivatives, Fair Value [Line Items]
Notional amount	220,000,000
Fair Value of Asset and (Liabilities) as of December 31,	$ (5,505,000)	$ (1,165,000)
Designated as Hedging Instrument | Minimum | Interest Rate Swaps | Derivative liabilities, deferred rental income and other liabilities
Derivatives, Fair Value [Line Items]
Interest rate (percent)	3.90%
Designated as Hedging Instrument | Maximum | Interest Rate Swaps | Derivative liabilities, deferred rental income and other liabilities
Derivatives, Fair Value [Line Items]
Interest rate (percent)	4.45%

CREDIT FACILITY AND NOTES PAY_3

CREDIT FACILITY AND NOTES PAYABLE (Fixed rate debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt, net	$ 342,511	$ 348,492
Debt instrument, weighted average years to maturity	2 years 10 months 24 days
Debt, weighted average interest rate (percent)	4.10%
Debt, gross	$ 344,100	350,600
Fixed rate debt
Debt Instrument [Line Items]
Debt, gross	92,600	$ 92,600
Value of collateral securing debt outstanding	$ 157,000
Fixed rate debt | Minimum
Debt Instrument [Line Items]
Stated interest rate, minimum (percent)	3.50%
Fixed rate debt | Maximum
Debt Instrument [Line Items]
Stated interest rate, minimum (percent)	4.50%
Interest Rate Swaps | Fixed rate debt
Debt Instrument [Line Items]
Debt, gross	$ 92,600
Interest Rate Swaps | Variable Rate Debt
Debt Instrument [Line Items]
Debt, gross	$ 21,100

CREDIT FACILITY AND NOTES PAY_4

CREDIT FACILITY AND NOTES PAYABLE (Schedule of debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt [Roll Forward]
Total debt, beginning balance	$ 350,600
Total debt, net, beginning balance	348,492
Debt Issuance	46,700	$ 300,500	$ 134,700
Debt Issuance, Net	46,663
Repayments and Modifications	(53,200)
Accretion	556
Total debt, ending balance	344,100	350,600
Total debt, net, ending balance	342,511	348,492
Credit facility
Debt [Roll Forward]
Total debt, beginning balance	258,000
Deferred costs, beginning balance	(1,668)
Debt Issuance	46,700
Deferred costs incurred	(36)
Repayments and Modifications	(53,200)
Accretion	402
Total debt, ending balance	251,500	258,000
Deferred costs, ending balance	(1,302)	(1,668)
Fixed rate debt
Debt [Roll Forward]
Total debt, beginning balance	92,600
Deferred costs, beginning balance	(440)
Debt Issuance	0
Deferred costs incurred	(1)
Repayments and Modifications	0
Accretion	154
Total debt, ending balance	92,600	92,600
Deferred costs, ending balance	$ (287)	$ (440)

CREDIT FACILITY AND NOTES PAY_5

CREDIT FACILITY AND NOTES PAYABLE (Credit facility) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt, weighted average interest rate (percent)	4.10%
Long-term debt, gross	$ 344,100,000	$ 350,600,000
Credit facility
Debt Instrument [Line Items]
Long-term debt, gross	251,500,000	$ 258,000,000
JPMorgan Chase Bank, N.A. | Credit facility
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 350,000,000
Debt, weighted average interest rate (percent)	4.10%
Long-term debt, gross	$ 251,500,000
Line of credit facility, remaining borrowing capacity	98,500,000
Line of credit facility, covenant, minimum consolidated net worth	$ 225,000,000
Line of credit facility, covenant, minimum consolidated net worth, percentage of equity issuance	75.00%
JPMorgan Chase Bank, N.A. | Credit facility | Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.50%
JPMorgan Chase Bank, N.A. | Credit facility | Statutory Reserve Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.00%
JPMorgan Chase Bank, N.A. | Revolving credit facility | Credit facility
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 130,000,000
Long-term line of credit	$ 31,500,000
Debt, weighted average interest rate (percent)	3.60%
JPMorgan Chase Bank, N.A. | Term Loan | Credit facility
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity	$ 220,000,000
JPMorgan Chase Bank, N.A. | Interest Rate Swaps | Term Loan | Credit facility
Debt Instrument [Line Items]
Long-term line of credit	$ 220,000,000
Debt, weighted average interest rate (percent)	4.10%
JPMorgan Chase Bank, N.A. | Minimum | Credit facility
Debt Instrument [Line Items]
Interest rate (percent)	0.30%
Debt instrument, covenant, fixed charge coverage ratio	1.5
Line of credit facility, covenant, unsecured debt service coverage ratio	1.75
JPMorgan Chase Bank, N.A. | Minimum | Credit facility | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.30%
JPMorgan Chase Bank, N.A. | Maximum | Credit facility
Debt Instrument [Line Items]
Interest rate (percent)	0.70%
Line of credit facility, covenant, leverage ratio	60.00%
Debt instrument, covenant, unsecured debt to unencumbered asset value ratio	60.00%
Line of credit facility, covenant, secured debt ratio	40.00%
Line of credit facility, covenant, recourse debt coverage ratio	15.00%
JPMorgan Chase Bank, N.A. | Maximum | Credit facility | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.70%

CREDIT FACILITY AND NOTES PAY_6

CREDIT FACILITY AND NOTES PAYABLE (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 388
2021	68,009
2022	31,928
2023	220,448
2024	23,327
Thereafter	0
Total	$ 344,100	$ 350,600

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Common stock issued through distribution reinvestment plan	$ 9,342	$ 11,732	$ 10,696
Distributions declared and unpaid	1,669	2,220	2,049
Change in accrued distribution and stockholder servicing fees	(4)	493	1,013
Accrued capital expenditures	114	7	70
Change in fair value of interest rate swaps	(5,122)	(1,178)	1,209
Supplemental Cash Flow Disclosures:
Interest paid	13,986	13,167	10,466
Cash paid for taxes	$ 154	$ 191	$ 79

RELATED-PARTY TRANSACTIONS AN_3

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Selling commissions and dealer manager fees) (Details) - Dealer manager	Dec. 31, 2019
Selling commissions
Related Party Transaction [Line Items]
Expense reallowed	100.00%
Dealer manager fees
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 AN_4

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Other organization and offering expenses) (Details)	Dec. 31, 2019
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 AN_5

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Distribution and stockholder servicing fees) (Details)	Oct. 04, 2016	Oct. 04, 2016	Dec. 31, 2019
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		0.00219%	0.00274%
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 AN_6

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Acquisition fees and expenses) (Details) - Maximum - Advisors	Dec. 31, 2019
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 AN_7

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Advisory fees and expenses) (Details) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Related Party Transaction [Line Items]
Equity-based payments to advisor	$ 1,133,000
Average invested assets between $0 to $2 billion | Advisors | 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 | Advisors | 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 | Advisors | 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 | Advisors
Related Party Transaction [Line Items]
Average invested assets	$ 0
Minimum | Average invested assets between $2 billion to $4 billion | Advisors
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Minimum | Average invested assets over $4 billion | Advisors
Related Party Transaction [Line Items]
Average invested assets	4,000,000,000
Maximum | Average invested assets between $0 to $2 billion | Advisors
Related Party Transaction [Line Items]
Average invested assets	2,000,000,000
Maximum | Average invested assets between $2 billion to $4 billion | Advisors
Related Party Transaction [Line Items]
Average invested assets	$ 4,000,000,000
Common Class A
Related Party Transaction [Line Items]
Net asset value per share (USD per share) | $ / shares	$ 19.64
Equity-based payments to advisor (in shares) | shares	58
Equity-based payments to advisor	$ 1,100,000

RELATED-PARTY TRANSACTIONS AN_8

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Operating expenses) (Details) - Maximum - Advisors - Operating expenses	Dec. 31, 2019
Related Party Transaction [Line Items]
Operating expense reimbursement (percent)	2.00%
Operating expense reimbursement percent of net income (percent)	25.00%

RELATED-PARTY TRANSACTIONS AN_9

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Disposition fees) (Details) - Maximum - Advisors	Dec. 31, 2019
Disposition fee for sale of real estate
Related Party Transaction [Line Items]
Expenses from transactions with related party, percent of contract price (percent)	1.00%
Brokerage commissions and disposition fees
Related Party Transaction [Line Items]
Expenses from transactions with related party, percent of contract price (percent)	6.00%
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 A_10

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Subordinated performance fees) (Details) - Advisors - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Cumulative noncompounded annual return (percent)	6.00%
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%
Subordinated Performance Fees
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 0	$ 0	$ 0

RELATED-PARTY TRANSACTIONS A_11

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Schedule of related party transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Due to affiliates	$ 1,782	$ 2,108
Selling commissions | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	47	1,498	$ 4,021
Dealer manager fees | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	27	638	1,553
Other organization and offering expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	114	873	1,766
Distribution and stockholder servicing fees | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	371	371	197
Due to affiliates	869	1,200
Acquisition fees and expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	742	1,861	3,077
Disposition fees | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	326	68	0
Advisory fees and expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	6,159	6,248	5,442
Operating expenses | Advisors
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 1,325	$ 2,079	$ 2,100

RELATED-PARTY TRANSACTIONS A_12

RELATED-PARTY TRANSACTIONS AND ARRANGEMENTS (Due to Affiliates and Transactions) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Due to affiliates	$ 1,782	$ 2,108

STOCKHOLDER'S EQUITY (Narrative

STOCKHOLDER'S EQUITY (Narrative) (Details) - $ / shares	Jun. 19, 2013	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Feb. 07, 2014
Class of Stock [Line Items]
Common stock, shares authorized (shares)		490,000,000	490,000,000
Preferred stock, shares authorized (shares)		10,000,000	10,000,000
Common stock, par value (USD per share)		$ 0.01
Preferred stock, par value (USD per share)		$ 0.01	$ 0.01
Common stock outstanding (shares)						8,000
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)		$ 0.01	$ 0.01
Common stock outstanding (shares)		14,997,382	14,982,055
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)		$ 0.01	$ 0.01
Common stock outstanding (shares)		1,967,581	1,914,878
Common Stock
Class of Stock [Line Items]
Issuance of common stock (shares)	20,000
Share price (USD per share)	$ 10
Common Stock | Common Class A
Class of Stock [Line Items]
Issuance of common stock (shares)		448,087	1,246,784	2,405,868
Common stock outstanding (shares)		14,997,382.12	14,982,055	14,241,888	12,327,579
Common Stock | Common Class T
Class of Stock [Line Items]
Issuance of common stock (shares)		66,717.9	570,374	1,026,697
Common stock outstanding (shares)		1,967,580.6	1,914,878	1,347,920	321,223

STOCKHOLDER'S EQUITY (Distribut

STOCKHOLDER'S EQUITY (Distribution Reinvestment Plan) (Details) - Distribution reinvestment plan - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Dividend reinvestment plan, termination notice period	10 days
Shares issued pursuant to a distribution reinvestment plan (shares)	459	519	446
Common stock issued through distribution reinvestment plan	$ 9.3	$ 11.7	$ 10.7

STOCKHOLDER'S EQUITY (Share Red

STOCKHOLDER'S EQUITY (Share Redemption Program) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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%
Stock repurchase program, termination notice period	30 days
Redemptions of common stock (shares)	508,000	514,000	492,000
Redemptions of common stock	$ 10,289	$ 11,502	$ 11,703
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)	100
Distribution reinvestment plan
Equity, Class of Treasury Stock [Line Items]
Redemption price, percentage of most recent per share NAV (percent)	100.00%

STOCKHOLDER'S EQUITY (Distrib_2

STOCKHOLDER'S EQUITY (Distributions payable and Distributions policy) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	15 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Distributions payable		$ 1,669		$ 2,220
Common Class A
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)			$ 0.004315068
Common Class T
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)		$ 0.003232877	$ 0.004315068
Scenario, Forecast | Common Class A
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)	$ 0.003224044
Scenario, Forecast | Common Class T
Class of Stock [Line Items]
Common stock, dividends, daily amount per share authorized (USD per share)	$ 0.003224044

STOCKHOLDER'S EQUITY (Equity-Ba

STOCKHOLDER'S EQUITY (Equity-Based Compensation) (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation not vested forfeited in period (in shares)		4,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 59
General and Administrative Expense | Restricted Stock | CCPT V 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 79	$ 20
Common Stock | CCPT V 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for issuance (in shares)		400,000
Shares available for future grant (in shares)		392,000
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vested in period (in shares)		3,600
Common Class A | Restricted Stock | CCPT V 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period to each independent member of Board of Directors (shares)	2,500
Grants in period (shares)	7,600

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Ordinary dividends	0.00%	31.00%	21.00%
Nondividend distributions	100.00%	69.00%	79.00%
Total	100.00%	100.00%	100.00%
State and local income tax and franchise tax expense (benefit), continuing operations	$ 143,000	$ 198,000	$ 150,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating leases of lessor, weighted average remaining lease term	10 years 2 months 12 days
Future Minimum Rental Income
2020	$ 46,800
2021	46,350
2022	45,062
2023	43,662
2024	41,163
Thereafter	274,468
Total	$ 497,505
Future Minimum Rental Income
2019		$ 47,588
2020		47,108
2021		46,541
2022		44,949
2023		43,351
Thereafter		291,483
Total		$ 521,020

LEASES - Rental Income (Details

LEASES - Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessor, Lease, Description [Line Items]
Fixed rental and other property income	$ 48,089
Variable rental and other property income	7,071
Total rental and other property income	$ 55,160
Total rental and other property income		$ 54,352	$ 45,370
Rental Income
Lessor, Lease, Description [Line Items]
Total rental and other property income		47,867	40,078
Tenant Reimbursements Income
Lessor, Lease, Description [Line Items]
Total rental and other property income		$ 6,485	$ 5,292

Quarterly Results (Unaudited)_2

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Rental and other property income	$ 14,037	$ 13,788	$ 13,652	$ 13,683	$ 13,739	$ 13,965	$ 13,585	$ 13,063	$ 55,160	$ 54,352	$ 45,370
Net income (loss)	$ 282	$ 790	$ 1,470	$ 1,013	$ (3,369)	$ 892	$ 869	$ 544	3,555	(1,064)	1,509
Common Class A
Class of Stock [Line Items]
Net income (loss)									$ 3,463	$ (614)	$ 1,606
Basic and diluted net income (loss) per share (USD per share)	$ 0.02	$ 0.05	$ 0.09	$ 0.07	$ (0.19)	$ 0.06	$ 0.06	$ 0.04	$ 0.23	$ (0.04)	$ 0.12
Common Class T
Class of Stock [Line Items]
Net income (loss)									$ 92	$ (450)	$ (97)
Basic and diluted net income (loss) per share (USD per share)	$ (0.02)	$ 0.01	$ 0.05	$ 0.01	$ (0.25)	$ 0.01	$ 0	$ (0.02)	$ 0.05	$ (0.26)	$ (0.12)

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 25, 2020
Subsequent Event
Redemptions of common stock (shares)		508	514	492
Redemptions of common stock		$ 10,289	$ 11,502	$ 11,703
Redemption requests unfulfilled		901
Subsequent Event
Subsequent Event
Redemptions of common stock (shares)	98
Redemptions of common stock	$ 1,900
Stock redeemed average price per share	$ 19.61
Acquisition of percentage	100.00%
Real estate property	$ 0
Real estate property purchase price	$ 9,700
Distribution reinvestment plan | Subsequent Event
Subsequent Event
Share price (USD per share)	$ 19.64				$ 19.64
The Share Redemption Program | Subsequent Event
Subsequent Event
Net asset value per share (USD per share)	$ 19.64
Common Class A
Subsequent Event
Net asset value per share (USD per share)		$ 19.64
Common Class T
Subsequent Event
Net asset value per share (USD per share)		$ 19.64

Schedule III - Real Estate As_2

Schedule III - Real Estate Assets and Accumulated Depreciation (Details) - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 92,600
Initial Costs to Company
Land		154,078
Buildings and Improvements		434,728
Total Adjustment to Basis	[1]	2,794
Gross Amount at Which Carried At December 31, 2018		591,600	[2],[3],[4]	$ 609,834	$ 559,836	$ 450,556
Accumulated Depreciation		49,995	[2],[5],[6]	$ 41,208	$ 29,777	$ 19,295
Arkadelphia, AR | Aaron’s
Initial Costs to Company
Land		125
Buildings and Improvements		748
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	873
Accumulated Depreciation	[2],[5],[6]	94
Cartersville, GA | Academy Sports
Initial Costs to Company
Land		1,384
Buildings and Improvements		7,427
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	8,811
Accumulated Depreciation	[2],[5],[6]	1,104
Fairmont, NC | Advance Auto
Initial Costs to Company
Land		56
Buildings and Improvements		949
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,005
Accumulated Depreciation	[2],[5],[6]	141
Hampton, VA | Advance Auto
Initial Costs to Company
Land		474
Buildings and Improvements		759
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,233
Accumulated Depreciation	[2],[5],[6]	81
Stratford, CT | Advance Auto
Initial Costs to Company
Land		1,140
Buildings and Improvements		1,395
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,535
Accumulated Depreciation	[2],[5],[6]	141
Rogers, AR | Aspen Dental
Initial Costs to Company
Land		592
Buildings and Improvements		1,090
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,682
Accumulated Depreciation	[2],[5],[6]	118
Pearland, TX | At Home
Initial Costs to Company
Land		4,966
Buildings and Improvements		7,535
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	12,501
Accumulated Depreciation	[2],[5],[6]	286
Portage, IN | Bass Pro Shop
Initial Costs to Company
Land		1,400
Buildings and Improvements		4,044
Total Adjustment to Basis	[1]	87
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,531
Accumulated Depreciation	[2],[5],[6]	590
Fort Myers, FL | BJ’s Wholesale Club
Initial Costs to Company
Land		5,312
Buildings and Improvements		18,604
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	23,916
Accumulated Depreciation	[2],[5],[6]	901
Louisville, KY | Blankenbaker Plaza
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	580
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	15,567
Accumulated Depreciation	[2],[5],[6]	1,641
Rockford, IL | Brynwood Square
Initial Costs to Company
Land		1,194
Buildings and Improvements		10,515
Total Adjustment to Basis	[1]	97
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	11,806
Accumulated Depreciation	[2],[5],[6]	1,767
Gallipolis, OH | Bob Evans
Initial Costs to Company
Land		189
Buildings and Improvements		1,726
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,915
Accumulated Depreciation	[2],[5],[6]	155
Hagerstown, MD | Bob Evans
Initial Costs to Company
Land		644
Buildings and Improvements		1,503
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,147
Accumulated Depreciation	[2],[5],[6]	126
Mansfield, OH | Bob Evans
Initial Costs to Company
Land		719
Buildings and Improvements		983
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,702
Accumulated Depreciation	[2],[5],[6]	100
Monroe, MI | Bob Evans
Initial Costs to Company
Land		477
Buildings and Improvements		1,514
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,991
Accumulated Depreciation	[2],[5],[6]	127
Northwood, OH | Bob Evans
Initial Costs to Company
Land		231
Buildings and Improvements		1,738
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,969
Accumulated Depreciation	[2],[5],[6]	148
Peoria, IL | Bob Evans
Initial Costs to Company
Land		205
Buildings and Improvements		790
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	995
Accumulated Depreciation	[2],[5],[6]	63
Piqua, OH | Bob Evans
Initial Costs to Company
Land		416
Buildings and Improvements		1,359
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,775
Accumulated Depreciation	[2],[5],[6]	131
Salina, KS | Buffalo Wild Wings & Shoe Carnival
Initial Costs to Company
Land		689
Buildings and Improvements		2,023
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,712
Accumulated Depreciation	[2],[5],[6]	311
Yukon, OK | Burger King
Initial Costs to Company
Land		519
Buildings and Improvements		587
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,106
Accumulated Depreciation	[2],[5],[6]	78
Bangor, ME | Burlington Coat Factory
Initial Costs to Company
Land		1,124
Buildings and Improvements		3,890
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,014
Accumulated Depreciation	[2],[5],[6]	578
Fort Myers, FL | Camping World
Initial Costs to Company
Land		2,925
Buildings and Improvements		4,308
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	7,233
Accumulated Depreciation	[2],[5],[6]	369
Riverton, NJ | CVS
Initial Costs to Company
Land		699
Buildings and Improvements		4,657
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,356
Accumulated Depreciation	[2],[5],[6]	671
Derby, KS | Derby Marketplace
Initial Costs to Company
Land		1,667
Buildings and Improvements		8,675
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	10,342
Accumulated Depreciation	[2],[5],[6]	700
Athens, WV | Dollar General
Initial Costs to Company
Land		400
Buildings and Improvements		1,132
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,532
Accumulated Depreciation	[2],[5],[6]	158
Autaugaville, AL | Dollar General
Initial Costs to Company
Land		130
Buildings and Improvements		827
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	957
Accumulated Depreciation	[2],[5],[6]	109
Bluefield, WV | Dollar General
Initial Costs to Company
Land		250
Buildings and Improvements		993
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,243
Accumulated Depreciation	[2],[5],[6]	144
Braham, MN | Dollar General
Initial Costs to Company
Land		66
Buildings and Improvements		906
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	972
Accumulated Depreciation	[2],[5],[6]	121
Charleston, WV | Dollar General
Initial Costs to Company
Land		383
Buildings and Improvements		963
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,346
Accumulated Depreciation	[2],[5],[6]	134
Charleston, WV | Dollar General
Initial Costs to Company
Land		361
Buildings and Improvements		863
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,224
Accumulated Depreciation	[2],[5],[6]	130
Clarion, IA | Dollar General
Initial Costs to Company
Land		128
Buildings and Improvements		860
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	988
Accumulated Depreciation	[2],[5],[6]	115
Collinsville, AL | Dollar General
Initial Costs to Company
Land		139
Buildings and Improvements		870
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,009
Accumulated Depreciation	[2],[5],[6]	120
Dothan, AL | Dollar General
Initial Costs to Company
Land		208
Buildings and Improvements		722
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	930
Accumulated Depreciation	[2],[5],[6]	97
Elmwood, IL | Dollar General
Initial Costs to Company
Land		154
Buildings and Improvements		808
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	962
Accumulated Depreciation	[2],[5],[6]	110
Glouster, OH | Dollar General
Initial Costs to Company
Land		334
Buildings and Improvements		986
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,320
Accumulated Depreciation	[2],[5],[6]	138
Huntington, WV | Dollar General
Initial Costs to Company
Land		293
Buildings and Improvements		1,023
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,316
Accumulated Depreciation	[2],[5],[6]	127
Huntington, WV | Dollar General
Initial Costs to Company
Land		278
Buildings and Improvements		989
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,267
Accumulated Depreciation	[2],[5],[6]	134
Junction City, OH | Dollar General
Initial Costs to Company
Land		68
Buildings and Improvements		823
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	891
Accumulated Depreciation	[2],[5],[6]	112
Lineville, AL | Dollar General
Initial Costs to Company
Land		102
Buildings and Improvements		1,128
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,230
Accumulated Depreciation	[2],[5],[6]	149
Logansport, IN | Dollar General
Initial Costs to Company
Land		69
Buildings and Improvements		942
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,011
Accumulated Depreciation	[2],[5],[6]	146
Moundridge, KS | Dollar General
Initial Costs to Company
Land		190
Buildings and Improvements		668
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	858
Accumulated Depreciation	[2],[5],[6]	107
Oneonta, AL | Dollar General
Initial Costs to Company
Land		93
Buildings and Improvements		917
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,010
Accumulated Depreciation	[2],[5],[6]	127
Pipestone, MN | Dollar General
Initial Costs to Company
Land		130
Buildings and Improvements		891
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,021
Accumulated Depreciation	[2],[5],[6]	121
Ridgeley, WV | Dollar General
Initial Costs to Company
Land		73
Buildings and Improvements		1,122
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,195
Accumulated Depreciation	[2],[5],[6]	156
Selma, AL | Dollar General
Initial Costs to Company
Land		18
Buildings and Improvements		851
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	869
Accumulated Depreciation	[2],[5],[6]	112
Selma, AL | Dollar General
Initial Costs to Company
Land		146
Buildings and Improvements		903
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,049
Accumulated Depreciation	[2],[5],[6]	125
Semmes, AL | Dollar General
Initial Costs to Company
Land		139
Buildings and Improvements		837
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	976
Accumulated Depreciation	[2],[5],[6]	111
Shorter, AL | Dollar General
Initial Costs to Company
Land		91
Buildings and Improvements		935
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,026
Accumulated Depreciation	[2],[5],[6]	129
Sissonville, WV | Dollar General
Initial Costs to Company
Land		344
Buildings and Improvements		827
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,171
Accumulated Depreciation	[2],[5],[6]	116
South Charleston, WV | Dollar General
Initial Costs to Company
Land		335
Buildings and Improvements		991
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,326
Accumulated Depreciation	[2],[5],[6]	134
Talladega, AL | Dollar General
Initial Costs to Company
Land		82
Buildings and Improvements		789
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	871
Accumulated Depreciation	[2],[5],[6]	105
Virden, IL | Dollar General
Initial Costs to Company
Land		65
Buildings and Improvements		1,111
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,176
Accumulated Depreciation	[2],[5],[6]	145
Wakarusa, IN | Dollar General
Initial Costs to Company
Land		161
Buildings and Improvements		1,038
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,199
Accumulated Depreciation	[2],[5],[6]	141
Willard, MO | Dollar General
Initial Costs to Company
Land		258
Buildings and Improvements		904
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,162
Accumulated Depreciation	[2],[5],[6]	125
Wolcottville, IN | Dollar General
Initial Costs to Company
Land		151
Buildings and Improvements		910
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,061
Accumulated Depreciation	[2],[5],[6]	124
Denton, TX | Duluth Trading Company
Initial Costs to Company
Land		1,018
Buildings and Improvements		3,671
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,689
Accumulated Depreciation	[2],[5],[6]	182
Madison, AL | Duluth Trading Company
Initial Costs to Company
Land		1,291
Buildings and Improvements		3,684
Total Adjustment to Basis		0
Gross Amount at Which Carried At December 31, 2018		4,975
Accumulated Depreciation		50
Noblesville, IN | Duluth Trading Company
Initial Costs to Company
Land		958
Buildings and Improvements		3,856
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,814
Accumulated Depreciation	[2],[5],[6]	339
Allen Park, MI | Fairlane Green II
Initial Costs to Company
Land		8,551
Buildings and Improvements		6,866
Total Adjustment to Basis	[1]	160
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	15,577
Accumulated Depreciation	[2],[5],[6]	631
Bearden, AR | Family Dollar
Initial Costs to Company
Land		86
Buildings and Improvements		678
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	764
Accumulated Depreciation	[2],[5],[6]	85
Cabot, AR | Family Dollar
Initial Costs to Company
Land		220
Buildings and Improvements		895
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,115
Accumulated Depreciation	[2],[5],[6]	113
Columbus, OH | Family Dollar
Initial Costs to Company
Land		359
Buildings and Improvements		1,032
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,391
Accumulated Depreciation	[2],[5],[6]	142
Hobbs, NM | Family Dollar
Initial Costs to Company
Land		350
Buildings and Improvements		782
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,132
Accumulated Depreciation	[2],[5],[6]	103
Lewiston, ME | Family Dollar
Initial Costs to Company
Land		295
Buildings and Improvements		1,015
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,310
Accumulated Depreciation	[2],[5],[6]	154
Morgan, UT | Family Dollar
Initial Costs to Company
Land		235
Buildings and Improvements		858
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,093
Accumulated Depreciation	[2],[5],[6]	132
New Roads, LA | Family Dollar
Initial Costs to Company
Land		122
Buildings and Improvements		759
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	881
Accumulated Depreciation	[2],[5],[6]	95
Roswell, NM | Family Dollar
Initial Costs to Company
Land		379
Buildings and Improvements		739
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,118
Accumulated Depreciation	[2],[5],[6]	102
Salina, UT | Family Dollar
Initial Costs to Company
Land		224
Buildings and Improvements		913
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,137
Accumulated Depreciation	[2],[5],[6]	139
San Antonio, TX | Family Dollar
Initial Costs to Company
Land		345
Buildings and Improvements		905
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,250
Accumulated Depreciation	[2],[5],[6]	133
San Antonio, TX | Family Dollar
Initial Costs to Company
Land		344
Buildings and Improvements		1,024
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,368
Accumulated Depreciation	[2],[5],[6]	143
Talladega, AL | Family Dollar
Initial Costs to Company
Land		186
Buildings and Improvements		968
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,154
Accumulated Depreciation	[2],[5],[6]	130
Tennessee Colony, TX | Family Dollar
Initial Costs to Company
Land		89
Buildings and Improvements		829
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	918
Accumulated Depreciation	[2],[5],[6]	114
Valley, AL | Family Dollar
Initial Costs to Company
Land		184
Buildings and Improvements		928
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,112
Accumulated Depreciation	[2],[5],[6]	121
Walthourville, GA | Family Dollar
Initial Costs to Company
Land		327
Buildings and Improvements		952
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,279
Accumulated Depreciation	[2],[5],[6]	124
Warrenville, SC | Family Dollar
Initial Costs to Company
Land		98
Buildings and Improvements		1,014
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,112
Accumulated Depreciation	[2],[5],[6]	132
Lafayette, IN | Fresh Thyme Farmers Market
Initial Costs to Company
Land		410
Buildings and Improvements		6,208
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	6,618
Accumulated Depreciation	[2],[5],[6]	935
Ypsilanti Township, MI | Fresh Thyme Farmers Market
Initial Costs to Company
Land		1,141
Buildings and Improvements		7,486
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	8,627
Accumulated Depreciation	[2],[5],[6]	656
Houma, LA | Houma Crossing
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	534
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	23,467
Accumulated Depreciation	[2],[5],[6]	2,734
Omaha, NE | Hy-Vee
Initial Costs to Company
Land		2,225
Buildings and Improvements		7,020
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	9,245
Accumulated Depreciation	[2],[5],[6]	606
Eagan, MN | Kohl’s
Initial Costs to Company
Land		3,226
Buildings and Improvements		5,579
Total Adjustment to Basis	[1]	685
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	9,490
Accumulated Depreciation	[2],[5],[6]	599
Bay City, MI | Kroger
Initial Costs to Company
Land		1,045
Buildings and Improvements		5,224
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	6,269
Accumulated Depreciation	[2],[5],[6]	776
Lawton, OK | Lawton Marketplace
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	11
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	32,250
Accumulated Depreciation	[2],[5],[6]	4,390
Hermitage, PA | Lowe’s
Initial Costs to Company
Land		2,499
Buildings and Improvements		10,517
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	13,016
Accumulated Depreciation	[2],[5],[6]	1,060
Draper, UT | Mattress Firm
Initial Costs to Company
Land		651
Buildings and Improvements		1,510
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	2,161
Accumulated Depreciation	[2],[5],[6]	217
Lake City, FL | Mattress Firm
Initial Costs to Company
Land		656
Buildings and Improvements		1,075
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	1,731
Accumulated Depreciation	[2],[5],[6]	145
Heber, UT | Natural Grocers
Initial Costs to Company
Land		1,074
Buildings and Improvements		4,637
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	5,711
Accumulated Depreciation	[2],[5],[6]	296
Bennettsville, SC | O’Reilly Auto Parts
Initial Costs to Company
Land		375
Buildings and Improvements		910
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	1,285
Accumulated Depreciation	[2],[5],[6]	107
Flowood, MS | O’Reilly Auto Parts
Initial Costs to Company
Land		576
Buildings and Improvements		921
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	1,497
Accumulated Depreciation	[2],[5],[6]	95
Iron Mountain, MI | O’Reilly Auto Parts
Initial Costs to Company
Land		121
Buildings and Improvements		1,211
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	1,332
Accumulated Depreciation	[2],[5],[6]	156
Waterford, WI | Pick ’N Save
Initial Costs to Company
Land		684
Buildings and Improvements		3,317
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	4,001
Accumulated Depreciation	[2],[5],[6]	262
Waupaca, WI | Pick ’N Save
Initial Costs to Company
Land		2,066
Buildings and Improvements		7,294
Total Adjustment to Basis	[1]	328
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	9,688
Accumulated Depreciation	[2],[5],[6]	442
Murphy, TX | Raising Cane’s
Initial Costs to Company
Land		648
Buildings and Improvements		1,960
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	2,608
Accumulated Depreciation	[2],[5],[6]	268
Reno, NV | Raising Cane’s
Initial Costs to Company
Land		1,119
Buildings and Improvements		2,174
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	3,293
Accumulated Depreciation	[2],[5],[6]	294
Juneau, AK | Safeway
Initial Costs to Company
Land		3,082
Buildings and Improvements		8,739
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	11,821
Accumulated Depreciation	[2],[5],[6]	293
Bowling Green, KY | Shoppes of Gary Farms
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	24
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	15,793
Accumulated Depreciation	[2],[5],[6]	1,962
Abilene, TX | Shops at Abilene
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	910
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	25,594
Accumulated Depreciation	[2],[5],[6]	3,210
Salt Lake City, UT | Smart Foodservice Warehouse Stores
Initial Costs to Company
Land		687
Buildings and Improvements		4,270
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,957
Accumulated Depreciation	[2],[5],[6]	246
Lawrence, KS | Sprouts
Initial Costs to Company
Land		1,957
Buildings and Improvements		5,515
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	7,472
Accumulated Depreciation	[2],[5],[6]	374
Greenfield, WI | Steinhafels
Initial Costs to Company
Land		1,670
Buildings and Improvements		6,731
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		8,401
Accumulated Depreciation		119
North Kingstown, RI | Stop & Shop
Initial Costs to Company
Land		668
Buildings and Improvements		998
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,666
Accumulated Depreciation	[2],[5],[6]	136
Andrews, TX | Take 5
Initial Costs to Company
Land		67
Buildings and Improvements		375
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		442
Accumulated Depreciation		7
Bedford, TX | Take 5
Initial Costs to Company
Land		155
Buildings and Improvements		328
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		483
Accumulated Depreciation		6
Burleson, TX | Take 5
Initial Costs to Company
Land		556
Buildings and Improvements		418
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		974
Accumulated Depreciation		7
Burleson, TX | Take 5
Initial Costs to Company
Land		376
Buildings and Improvements		214
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		590
Accumulated Depreciation		4
Burleson, TX | Take 5
Initial Costs to Company
Land		301
Buildings and Improvements		434
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		735
Accumulated Depreciation		7
Cedar Hill, TX | Take 5
Initial Costs to Company
Land		289
Buildings and Improvements		350
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		639
Accumulated Depreciation		6
Hereford, TX | Take 5
Initial Costs to Company
Land		40
Buildings and Improvements		216
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		256
Accumulated Depreciation		4
Irving, TX | Take 5
Initial Costs to Company
Land		207
Buildings and Improvements		316
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		523
Accumulated Depreciation		6
Irving, TX | Take 5
Initial Costs to Company
Land		90
Buildings and Improvements		186
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		276
Accumulated Depreciation		4
Lubbock, TX | Take 5
Initial Costs to Company
Land		206
Buildings and Improvements		221
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		427
Accumulated Depreciation		4
Midland, TX | Take 5
Initial Costs to Company
Land		93
Buildings and Improvements		292
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		385
Accumulated Depreciation		5
Mineral Wells, TX | Take 5
Initial Costs to Company
Land		114
Buildings and Improvements		274
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018		388
Accumulated Depreciation		6
Blytheville, AR | Tractor Supply
Initial Costs to Company
Land		169
Buildings and Improvements		2,413
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,582
Accumulated Depreciation	[2],[5],[6]	381
Carlyle, IL | Tractor Supply
Initial Costs to Company
Land		289
Buildings and Improvements		2,566
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,855
Accumulated Depreciation	[2],[5],[6]	169
Logan, WV | Tractor Supply
Initial Costs to Company
Land		608
Buildings and Improvements		2,822
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	3,430
Accumulated Depreciation	[2],[5],[6]	201
Midland, NC | Tractor Supply
Initial Costs to Company
Land		213
Buildings and Improvements		2,317
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,530
Accumulated Depreciation	[2],[5],[6]	343
Shelbyville, IL | Tractor Supply
Initial Costs to Company
Land		287
Buildings and Improvements		2,556
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,843
Accumulated Depreciation	[2],[5],[6]	169
Carson, CA | United Oil
Initial Costs to Company
Land		3,774
Buildings and Improvements		1,892
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,666
Accumulated Depreciation	[2],[5],[6]	251
Fallbrook, CA | United Oil
Initial Costs to Company
Land		3,037
Buildings and Improvements		725
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	3,762
Accumulated Depreciation	[2],[5],[6]	97
Harbor City, CA | United Oil
Initial Costs to Company
Land		2,391
Buildings and Improvements		1,096
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	3,487
Accumulated Depreciation	[2],[5],[6]	146
Hawthorne, CA | United Oil
Initial Costs to Company
Land		1,744
Buildings and Improvements		363
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,107
Accumulated Depreciation	[2],[5],[6]	48
Lakewood, CA | United Oil
Initial Costs to Company
Land		2,457
Buildings and Improvements		1,423
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	3,880
Accumulated Depreciation	[2],[5],[6]	189
Long Beach, CA | United Oil
Initial Costs to Company
Land		2,129
Buildings and Improvements		777
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,906
Accumulated Depreciation	[2],[5],[6]	104
Los Angeles, CA | United Oil
Initial Costs to Company
Land		2,761
Buildings and Improvements		1,235
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	3,996
Accumulated Depreciation	[2],[5],[6]	164
Los Angeles, CA | United Oil
Initial Costs to Company
Land		3,499
Buildings and Improvements		860
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,359
Accumulated Depreciation	[2],[5],[6]	114
San Clemente, CA | United Oil
Initial Costs to Company
Land		3,447
Buildings and Improvements		985
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,432
Accumulated Depreciation	[2],[5],[6]	131
San Diego, CA | United Oil
Initial Costs to Company
Land		2,002
Buildings and Improvements		284
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,286
Accumulated Depreciation	[2],[5],[6]	37
San Diego, CA | United Oil
Initial Costs to Company
Land		3,633
Buildings and Improvements		783
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,416
Accumulated Depreciation	[2],[5],[6]	104
San Diego, CA | United Oil
Initial Costs to Company
Land		1,767
Buildings and Improvements		705
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,472
Accumulated Depreciation	[2],[5],[6]	94
Santa Ana, CA | United Oil
Initial Costs to Company
Land		2,090
Buildings and Improvements		598
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,688
Accumulated Depreciation	[2],[5],[6]	79
Raleigh, NC | Vacant
Initial Costs to Company
Land		431
Buildings and Improvements		1,121
Total Adjustment to Basis	[1]	(622)
Gross Amount at Which Carried At December 31, 2018	[1],[2],[3],[4]	930
Accumulated Depreciation	[2],[5],[6]	0
Taylor, MI | Vitamin Shoppe
Initial Costs to Company
Land		820
Buildings and Improvements		399
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	1,219
Accumulated Depreciation	[2],[5],[6]	51
Baton Rouge, LA | Walgreens
Initial Costs to Company
Land		822
Buildings and Improvements		4,257
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,079
Accumulated Depreciation	[2],[5],[6]	566
Clinton Township, MI | Walgreens
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,376
Accumulated Depreciation	[2],[5],[6]	416
Greenville, OH | Walgreens
Initial Costs to Company
Land		953
Buildings and Improvements		3,164
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,117
Accumulated Depreciation	[2],[5],[6]	401
Harrison, AR | Walgreens
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,537
Accumulated Depreciation	[2],[5],[6]	727
Indianapolis, IN | Walgreens
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,972
Accumulated Depreciation	[2],[5],[6]	667
Kilgore, TX | Walgreens
Initial Costs to Company
Land		588
Buildings and Improvements		5,074
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,662
Accumulated Depreciation	[2],[5],[6]	713
Kokomo, IN | Walgreens
Initial Costs to Company
Land		204
Buildings and Improvements		3,408
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	3,612
Accumulated Depreciation	[2],[5],[6]	454
Lees Summit, MO | Walgreens
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,278
Accumulated Depreciation	[2],[5],[6]	597
Richmond, IN | Walgreens
Initial Costs to Company
Land		138
Buildings and Improvements		4,923
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,061
Accumulated Depreciation	[2],[5],[6]	654
San Antonio, TX | Walgreens
Initial Costs to Company
Land		2,051
Buildings and Improvements		6,379
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	8,430
Accumulated Depreciation	[2],[5],[6]	847
Siloam Springs, AR | Walgreens
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	5,079
Accumulated Depreciation	[2],[5],[6]	581
Slidell, LA | Walgreens
SEC Schedule, 12-28, Real Estate Companies, Investment in 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	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,271
Accumulated Depreciation	[2],[5],[6]	385
Whiteville, NC | Walgreens
Initial Costs to Company
Land		888
Buildings and Improvements		3,453
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	4,341
Accumulated Depreciation	[2],[5],[6]	460
Chicago, IL | West Marine
Initial Costs to Company
Land		5,546
Buildings and Improvements		5,748
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	11,294
Accumulated Depreciation	[2],[5],[6]	648
Jacksonville, NC | Western Crossing
Initial Costs to Company
Land		2,507
Buildings and Improvements		8,370
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	10,877
Accumulated Depreciation	[2],[5],[6]	593
Amite, LA | Winn-Dixie
Initial Costs to Company
Land		286
Buildings and Improvements		2,297
Total Adjustment to Basis	[1]	0
Gross Amount at Which Carried At December 31, 2018	[2],[3],[4]	2,583
Accumulated Depreciation	[2],[5],[6]	$ 463
[1]	The aggregate cost for federal income tax purposes was $604.9 million.
[2]	Gross intangible lease assets of $91.9 million and the associated accumulated amortization of $26.0 million are not reflected in the table above.
[3]	The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017Balance, beginning of period $609,834 $559,836 $450,556Additions: Acquisitions 19,491 63,595 109,010Improvements 1,249 1,625 270Total additions 20,740 65,220 109,280Deductions: Cost of real estate sold (38,351) (10,288) —Other (including provisions for impairment of real estate assets) (623) (4,934) —Total deductions (38,974) (15,222) —Balance, end of period $591,600 $609,834 $559,836
[4]	The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017Balance, beginning of period $609,834 $559,836 $450,556Additions: Acquisitions 19,491 63,595 109,010Improvements 1,249 1,625 270Total additions 20,740 65,220 109,280Deductions: Cost of real estate sold (38,351) (10,288) —Other (including provisions for impairment of real estate assets) (623) (4,934) —Total deductions (38,974) (15,222) —Balance, end of period $591,600 $609,834 $559,836
[5]	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, site improvements are amortized over 15 years, and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter.
[6]	The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017Balance, beginning of period $41,208 $29,777 $19,295Additions: Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired 12,484 12,020 10,238Improvements - Depreciation expense for tenant improvements and building equipment 128 608 244Total additions 12,612 12,628 10,482Deductions: Cost of real estate sold (3,670) — —Other (including provisions for impairment of real estate assets) (155) (1,197) —Total deductions (3,825) (1,197) —Balance, end of period $49,995 $41,208 $29,777

SCHEDULE III - REAL ESTATE AS_3

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of owned properties | property	148
Aggregate cost for federal income tax purposes	$ 604,900
Intangible lease assets	91,935	$ 86,385
Accumulated amortization	26,000
Long-term debt, gross	344,100	350,600
Credit facility
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Long-term debt, gross	$ 251,500	$ 258,000
Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Acquired real estate asset, useful life	40 years
Site improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Acquired real estate asset, useful life	15 years
JPMorgan Chase Bank, N.A. | Credit facility
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Long-term debt, gross	$ 251,500
Retail properties
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of owned properties | property	141
Anchored Shopping Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of owned properties | property	7

SCHEDULE III - REAL ESTATE AS_4

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Reconciliation of Carrying Amount of Real Estate Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of period	$ 609,834		$ 559,836	$ 450,556
Additions:
Acquisitions	19,491		63,595	109,010
Improvements	1,249		1,625	270
Total additions	20,740		65,220	109,280
Deductions:
Cost of real estate sold	(38,351)		(10,288)	0
Other (including provisions for impairment of real estate assets)	(623)		(4,934)	0
Total deductions	(38,974)		(15,222)	0
Balance, end of period	$ 591,600	[1],[2],[3]	$ 609,834	$ 559,836
[1]	Gross intangible lease assets of $91.9 million and the associated accumulated amortization of $26.0 million are not reflected in the table above.
[2]	The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017Balance, beginning of period $609,834 $559,836 $450,556Additions: Acquisitions 19,491 63,595 109,010Improvements 1,249 1,625 270Total additions 20,740 65,220 109,280Deductions: Cost of real estate sold (38,351) (10,288) —Other (including provisions for impairment of real estate assets) (623) (4,934) —Total deductions (38,974) (15,222) —Balance, end of period $591,600 $609,834 $559,836
[3]	The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017Balance, beginning of period $609,834 $559,836 $450,556Additions: Acquisitions 19,491 63,595 109,010Improvements 1,249 1,625 270Total additions 20,740 65,220 109,280Deductions: Cost of real estate sold (38,351) (10,288) —Other (including provisions for impairment of real estate assets) (623) (4,934) —Total deductions (38,974) (15,222) —Balance, end of period $591,600 $609,834 $559,836

SCHEDULE III - REAL ESTATE AS_5

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Reconciliation of Real Estate Accumulated Depreciation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance, beginning of period	$ 41,208		$ 29,777	$ 19,295
Additions:
Acquisitions - Depreciation Expense for Building, Acquisitions Costs & Tenant Improvements Acquired	12,484		12,020	10,238
Improvements - Depreciation Expense for Tenant Improvements and Building Equipment	128		608	244
Total additions	12,612		12,628	10,482
Deductions:
Cost of real estate sold	(3,670)		0	0
Other (including provisions for impairment of real estate assets)	(155)		(1,197)	0
Total deductions	(3,825)		(1,197)	0
Balance, end of period	$ 49,995	[1],[2],[3]	$ 41,208	$ 29,777
[1]	Gross intangible lease assets of $91.9 million and the associated accumulated amortization of $26.0 million are not reflected in the table above.
[2]	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, site improvements are amortized over 15 years, and tenant improvements are amortized over the remaining life of the lease or the useful life, whichever is shorter.
[3]	The following is a reconciliation of accumulated depreciation for the years ended December 31 (in thousands): Years Ended December 31, 2019 2018 2017Balance, beginning of period $41,208 $29,777 $19,295Additions: Acquisitions - Depreciation expense for building, acquisitions costs and tenant improvements acquired 12,484 12,020 10,238Improvements - Depreciation expense for tenant improvements and building equipment 128 608 244Total additions 12,612 12,628 10,482Deductions: Cost of real estate sold (3,670) — —Other (including provisions for impairment of real estate assets) (155) (1,197) —Total deductions (3,825) (1,197) —Balance, end of period $49,995 $41,208 $29,777

Uncategorized Items - ccptv-201

Label	Element	Value
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 32,000
Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (32,000)