Peakstone Realty Trust (PKST) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-55605
Entity Registrant Name	Griffin Realty Trust, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-4654479
Entity Address, Address Line One	1520 E. Grand Ave
Entity Address, City or Town	El Segundo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90245
City Area Code	310
Local Phone Number	606-3200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001600626
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Class T
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		565,265
Class S
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		1,801
Class D
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		42,013
Class I
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		1,911,818
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		24,509,573
Class AA
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		47,592,117
Class AAA
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		926,935
Class E
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		249,166,309

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents		$ 184,209	$ 168,618
Restricted cash		19,094	17,522
Real estate:
Land		584,291	584,291
Building and improvements		4,107,554	4,104,782
Tenant origination and absorption cost		876,324	876,324
Construction in progress		3,081	4,763
Total real estate		5,571,250	5,570,160
Less: accumulated depreciation and amortization		(1,044,790)	(993,323)
Total real estate, net		4,526,460	4,576,837
Intangible assets, net		41,784	43,100
Deferred rent receivable		112,195	108,896
Deferred leasing costs, net		43,422	44,505
Goodwill		229,948	229,948
Due from affiliates		276	271
Right of use asset		40,362	39,482
Interest rate swap asset		17,133	3,456
Other assets		35,435	40,382
Total assets		5,250,318	5,273,017
LIABILITIES AND EQUITY
Debt, net		2,531,067	2,532,377
Restricted reserves		8,465	8,644
Interest rate swap liability		4,926	25,108
Distributions payable		12,393	12,396
Due to affiliates		2,532	2,418
Intangible liabilities, net		29,175	30,626
Lease liability		52,088	50,896
Accrued expenses and other liabilities		103,669	109,121
Total liabilities		2,744,315	2,771,586
Commitments and contingencies
Perpetual convertible preferred shares		125,000	125,000
Noncontrolling interests subject to redemption; 556,099 units as of March 31, 2022 and December 31, 2021		4,671	4,768
Stockholders’ equity:
Common stock, $0.001 par value; 800,000,000 shares authorized; 324,203,043 and 324,638,112 shares outstanding in the aggregate as of March 31, 2022 and December 31, 2021, respectively	[1]	325	325
Additional paid-in capital		2,953,256	2,951,972
Cumulative distributions		(950,635)	(922,562)
Accumulated earnings		142,134	141,983
Accumulated other comprehensive income (loss)		12,204	(18,708)
Total stockholders’ equity		2,157,284	2,153,010
Noncontrolling interests		219,048	218,653
Total equity		2,376,332	2,371,663
Total liabilities and equity		$ 5,250,318	$ 5,273,017
[1]	See Note 8, Equity , for the number of shares outstanding of each class of common stock as of March 31, 2022.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022		Dec. 31, 2021
Statement of Financial Position [Abstract]
Noncontrolling interests subject to redemption (in shares)	556,099		556,099
Common stock, par value (in usd per share)	$ 0.001	[1]	$ 0.001
Common stock, shares authorized (in shares)	800,000,000	[1]	800,000,000
Common stock, shares outstanding (in shares)	324,715,745		324,638,112
[1]	See Note 8, Equity , for the number of shares outstanding of each class of common stock as of March 31, 2022.

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Rental income	$ 116,189	$ 101,355
Expenses:
Property operating expense	15,043	14,445
Property tax expense	10,033	9,679
Property management fees to non-affiliates	1,039	981
General and administrative expenses	9,523	9,469
Corporate operating expenses to affiliates	510	625
Impairment provision	0	4,242
Depreciation and amortization	52,863	44,338
Total expenses	89,011	83,779
Income before other income and (expenses)	27,178	17,576
Other income (expenses):
Interest expense	(21,666)	(20,685)
Gain (Loss) from investment in unconsolidated entities	0	8
(Loss) Gain from disposition of assets	0	(6)
Transaction expense	(2,883)	0
Other income, net	101	116
Net income (loss)	2,730	(2,991)
Distributions to redeemable preferred shareholders	(2,516)	(2,359)
Net (income) loss attributable to noncontrolling interests	(19)	569
Net income (loss) attributable to controlling interest	195	(4,781)
Distributions to redeemable noncontrolling interests attributable to common stockholders	(44)	(43)
Net income (loss) attributable to common stockholders	$ 151	$ (4,824)
Net income (loss) attributable to common stockholders per share, basic (in usd per share)	$ 0	$ (0.02)
Net income (loss) attributable to common stockholders per share, diluted (in usd per share)	$ 0	$ (0.02)
Weighted average number of common shares outstanding, basic (in shares)	324,643,183	263,046,014
Weighted average number of common shares outstanding, diluted (in shares)	324,643,183	263,046,014
Cash distributions declared per common share (in usd per share)	$ 0.09	$ 0.09

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,730	$ (2,991)
Other comprehensive income (loss):
Change in fair value of swap agreements	33,891	16,447
Total comprehensive income (loss)	36,621	13,456
Distributions to redeemable preferred shareholders	(2,516)	(2,359)
Distributions to redeemable noncontrolling interests attributable to common stockholders	(44)	(43)
Comprehensive (income) loss attributable to noncontrolling interests	(2,998)	(1,179)
Comprehensive income (loss) attributable to common stockholders	$ 31,063	$ 9,875

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-In Capital	Cumulative Distributions	Accumulated Income	Accumulated Other Comprehensive Loss	Non- controlling Interests
Beginning balance (in shares) at Dec. 31, 2020			230,320,668
Beginning balance at Dec. 31, 2020	$ 1,608,269	$ 1,381,719	$ 230	$ 2,103,028	$ (813,892)	$ 140,354	$ (48,001)	$ 226,550
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock related to the CCIT II Merger (in shares)			93,457,668
Issuance of stock related to the CCIT II Merger	838,315	838,315	$ 93	838,222
Deferred equity compensation (in shares)			170,302
Deferred equity compensation	3,133	3,133		3,133
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (in shares)			(99,298)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(891)	(891)		(891)
Cash distributions to common stockholders	(15,653)	(15,653)			(15,653)
Issuance or reversal of shares for distribution reinvestment plan (in shares)			804,027
Issuance or reversal of shares for distribution reinvestment plan	10	10	$ 2	7,174	(7,166)
Repurchase of common stock (in shares)			(772,265)
Repurchase of common stock	(6,920)	(6,920)	$ (1)	(6,919)
Reclass of noncontrolling interest subject to redemption	(31)							(31)
Reclass of common stock subject to redemption	1,781	1,781		1,781
Distributions to noncontrolling interest	(2,698)							(2,698)
Distributions to noncontrolling interests subject to redemption	(5)							(5)
Offering costs	(11)	(11)		(11)
Net income (loss)	(5,393)	(4,824)				(4,824)		(569)
Other comprehensive income	16,447	14,699					14,699	1,748
Ending balance(in shares) at Mar. 31, 2021			323,881,102
Ending balance at Mar. 31, 2021	2,436,353	2,211,358	$ 324	2,945,517	(836,711)	135,530	(33,302)	224,995
Beginning balance (in shares) at Dec. 31, 2020			230,320,668
Beginning balance at Dec. 31, 2020	$ 1,608,269	1,381,719	$ 230	2,103,028	(813,892)	140,354	(48,001)	226,550
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to noncontrolling interest								(10,942)
Net income (loss)								66
Other comprehensive income								3,156
Ending balance(in shares) at Dec. 31, 2021	324,638,112		324,638,112
Ending balance at Dec. 31, 2021	$ 2,371,663	2,153,010	$ 325	2,951,972	(922,562)	141,983	(18,708)	218,653
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deferred equity compensation (in shares)			128,235
Deferred equity compensation	1,757	1,757		1,757
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (in shares)			(50,587)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(459)	(459)		(459)
Cash distributions to common stockholders	(28,073)	(28,073)			(28,073)
Issuance or reversal of shares for distribution reinvestment plan (in shares)			(15)
Issuance or reversal of shares for distribution reinvestment plan	0
Reclass of noncontrolling interest subject to redemption	99							99
Distributions to noncontrolling interest	(2,698)							(2,698)
Distributions to noncontrolling interests subject to redemption	(4)							(4)
Offering costs	(14)	(14)		(14)
Net income (loss)	170	151				151		19
Other comprehensive income	$ 33,891	30,912					30,912	2,979
Ending balance(in shares) at Mar. 31, 2022	324,715,745		324,715,745
Ending balance at Mar. 31, 2022	$ 2,376,332	$ 2,157,284	$ 325	$ 2,953,256	$ (950,635)	$ 142,134	$ 12,204	$ 219,048

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net income (loss)	$ 2,730	$ (2,991)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of building and building improvements	32,093	26,546
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs	21,138	17,919
Amortization of below market leases, net	(414)	650
Amortization of deferred financing costs and debt premium	892	880
Amortization of swap interest	31	31
Deferred rent	(2,782)	65
Loss from sale of depreciable operating property	0	6
Income from investment in unconsolidated entities	0	(8)
Loss from investments	90	134
Impairment provision	0	4,242
Stock-based compensation	1,757	1,713
Change in operating assets and liabilities:
Deferred leasing costs and other assets	5,203	426
Restricted reserves	0	123
Accrued expenses and other liabilities	(4,932)	(12,833)
Due to affiliates, net	110	(162)
Net cash provided by operating activities	55,916	36,741
Investing Activities:
Cash paid in connection with the CCIT II Merger, net of cash assumed	0	(36,746)
Proceeds from disposition of properties	0	1,676
Restricted reserves	(179)	(64)
Payments for construction in progress	(2,280)	(30,489)
Distributions of capital from investment in unconsolidated entities	0	41
Purchase of investments	(75)	(82)
Net cash used in investing activities	(2,534)	(65,664)
Financing Activities:
Principal payoff of indebtedness - CCIT II Credit Facility	0	(415,500)
Proceeds from borrowings - KeyBank Loans	0	400,000
Principal amortization payments on secured indebtedness	(2,199)	(2,418)
Deferred financing costs	0	(342)
Offering costs	(14)	(11)
Repurchase of common stock	0	(5,356)
Distributions to noncontrolling interests	(2,746)	(2,743)
Distributions to preferred units subject to redemption	(2,516)	(2,359)
Distributions to common stockholders	(28,075)	(12,820)
Repurchase of common shares to satisfy employee tax withholding requirements	(459)	(891)
Finance lease payment	(210)	0
Net cash used in financing activities	(36,219)	(42,440)
Net increase (decrease) in cash, cash equivalents and restricted cash	17,163	(71,363)
Cash, cash equivalents and restricted cash at the beginning of the period	186,140	203,306
Cash, cash equivalents and restricted cash at the end of the period	203,303	131,943
Supplemental Disclosures of Significant Non-Cash Transactions:
Increase in fair value swap agreement	33,891	16,447
Accrued tenant obligations	8,946	11,303
Distributions payable to common stockholders	9,670	9,688
Distributions payable to noncontrolling interests	946	946
Common stock issued pursuant to the distribution reinvestment plan	0	7,175
Operating lease right-of-use assets obtained in exchange for lease liabilities	1,358	0
Common stock redemptions funded subsequent to period-end	0	(6,910)
Net assets acquired in Merger in exchange for common shares	0	838,315
Accrued for construction in progress	2	3,570
Capitalized transaction costs accrued	40	2,036
Capitalized transaction costs paid in prior period	0	2,130
Assumption of debt through the CCIT II Merger	$ 0	$ 415,500

Organization

Organization	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Griffin Realty Trust, Inc. (formerly known as Griffin Capital Essential Asset REIT, Inc.) (“GRT” or the “Company”) is an internally managed, publicly registered non-traded real estate investment trust (“REIT”) that owns and operates a geographically diversified portfolio of corporate office and industrial properties that are primarily net-leased. GRT’s fiscal year-end is December 31. On December 14, 2018, GRT, Griffin Capital Essential Asset Operating Partnership II, L.P. (the “GCEAR II Operating Partnership”), GRT’s wholly-owned subsidiary Globe Merger Sub, LLC (“EA Merger Sub”), the entity formerly known as Griffin Capital Essential Asset REIT, Inc. (“EA-1”), and GRT OP, L.P. (formerly known as Griffin Capital Essential Asset Operating Partnership, L.P.) (the “GRT OP”) entered into an Agreement and Plan of Merger (the “EA Merger Agreement”). On April 30, 2019, pursuant to the EA Merger Agreement, (i) EA-1 merged with and into EA Merger Sub, with EA Merger Sub surviving as GRT’s direct, wholly-owned subsidiary (the “EA Company Merger”) and (ii) the GCEAR II Operating Partnership merged with and into the GRT OP (the “EA Partnership Merger” and, together with the EA Company Merger, the “EA Mergers”), with the GRT OP surviving the EA Partnership Merger. In addition, on April 30, 2019, following the EA Mergers, EA Merger Sub merged into GRT. On March 1, 2021, the Company completed its acquisition of Cole Office & Industrial REIT (CCIT II), Inc. (“CCIT II”) for approximately $1.3 billion, including transaction costs, in a stock-for-stock transaction (the “CCIT II Merger”). At the effective time of the CCIT II Merger, each issued and outstanding share of CCIT II Class A common stock and each issued and outstanding share of CCIT II Class T common stock were converted into the right to receive 1.392 shares of the Company's Class E common stock. On July 1, 2021, the Company changed its name from Griffin Capital Essential Asset REIT, Inc. to Griffin Realty Trust, Inc. and the GRT OP changed its name from Griffin Capital Essential Asset Operating Partnership, L.P. to GRT OP, L.P. The GRT OP owns, directly or indirectly, all of the properties that the Company has acquired. As of March 31, 2022, (i) the Company owned approximately 91.0% of the outstanding common limited partnership units of the GRT OP (“GRT OP Units”), (ii), the former sponsor and certain of its affiliates owned approximately 7.8% of the limited partnership units of the GRT OP, including approximately 2.4 million units owned by the Company’s Executive Chairman and Chairman of the Company's Board of Directors (the “Board”), Kevin A. Shields, a result of the contribution of five properties to the Company and the self-administration transaction, and (iii) the remaining approximately 1.2% GRT OP Units are owned by unaffiliated third parties. The GRT OP may conduct certain activities through one or more of the Company’s taxable REIT subsidiaries, which are wholly-owned subsidiaries of the GRT OP.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies There have been no significant changes to the Company’s accounting policies since the Company filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2021. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”). The accompanying unaudited consolidated financial statements of the Company are prepared by management on the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), and in conjunction with rules and regulations of the SEC. Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited consolidated financial statements include accounts and related adjustments, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim period. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 . In addition, see the risk factors identified in the “Risk Factors” section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021. The consolidated financial statements of the Company include all accounts of the Company, the GRT OP, and its subsidiaries. Intercompany transactions are not shown on the consolidated statements. However, each property-owning entity is a wholly-owned subsidiary which is a special purpose entity (“SPE”), whose assets and credit are not available to satisfy the debts or obligations of any other entity, except to the extent required with respect to any co-borrower or guarantor under the same credit facility. Use of Estimates The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Per Share Data The Company reports earnings per share for the period as (1) basic earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period, and (2) diluted earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding, including common stock equivalents. Unvested RSUs that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The effect of including unvested restricted stock units using the treasury stock method was excluded from our calculation of weighted average shares of common stock outstanding – diluted, as the inclusion would have been anti-dilutive for the three months ended March 31, 2022 and 2021. Total excluded shares were 1,889,475, and 772,817 for the three months ended March 31, 2022 and 2021, respectively. Segment Information ASC 280, Segment Reporting, establishes standards for reporting financial and descriptive information about a public entity’s reportable segments. The Company internally evaluates all of the properties and interests therein as one reportable segment. Change in Consolidated Financial Statements Presentation Certain amounts in the prior period consolidated financial statements have been reclassified to conform to the current period presentation. Interest rate swap assets have been reclassified from other assets to interest rate swap assets on the balance sheet for all periods presented. Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code (“Code”). To qualify as a REIT, the Company must meet certain organizational and operational requirements. The Company intends to adhere to these requirements and maintain its REIT status for the current year and subsequent years. As a REIT, the Company generally will not be subject to federal income taxes on taxable income that is distributed to stockholders. However, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed taxable income, if any. If the Company fails to qualify as a REIT in any taxable year, the Company will then be subject to federal income taxes on the taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service (“IRS”) grants the Company relief under certain statutory provisions. Such an event could materially adversely affect net income and net cash available for distribution to stockholders. As of March 31, 2022, the Company satisfied the REIT requirements and distributed all of its taxable income. Pursuant to the Code, the Company has elected to treat its corporate subsidiary as a taxable REIT subsidiary (a “TRS”). In general, the TRS may perform non-customary services for the Company’s tenants and may engage in any real estate or non-real estate-related business. The TRS will be subject to corporate federal and state income tax. Goodwill Goodwill represents the excess of consideration paid over the fair value of underlying identifiable net assets of business acquired. The Company's goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company takes a qualitative approach to consider whether an impairment of goodwill exists prior to quantitatively determining the fair value of the reporting unit in step one of the impairment test. The Company performs its annual assessment on October 1st. Recently Issued Accounting Pronouncements Changes to GAAP are established by the FASB in the form of ASUs to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not recently issued any other ASUs that the Company expects to be applicable and have a material impact on the Company's financial statements. Adoption of New Accounting Pronouncements

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Real Estate	Real Estate As of March 31, 2022, the Company’s real estate portfolio consisted of 121 properties (including one land parcel held for future development), in 26 states consisting substantially of office, warehouse, and manufacturing facilities with a combined acquisition value of approximately $5.3 billion, including the allocation of the purchase price to above and below-market lease valuation. Depreciation expense for buildings and improvements for the three months ended March 31, 2022 was $32.1 million. Amortization expense for intangibles, including, but not limited to, tenant origination and absorption costs for the three months ended March 31, 2022, was $20.8 million. The Company allocated a portion of the acquired and contributed real estate asset value to in-place lease valuation, tenant origination and absorption cost, and other intangibles, as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 In-place lease valuation (above market) $ 49,578 $ 49,578 In-place lease valuation (above market) - accumulated amortization (35,990) (35,049) In-place lease valuation (above market), net 13,588 14,529 Ground leasehold interest (below market) 2,254 2,254 Ground leasehold interest (below market) - accumulated amortization (226) (219) Ground leasehold interest (below market), net 2,028 2,035 Intangibles - other 32,029 32,028 Intangibles - other - accumulated amortization (5,861) (5,492) Intangibles - other, net 26,168 26,536 Intangible assets, net $ 41,784 $ 43,100 In-place lease valuation (below market) $ (77,859) $ (77,859) Land leasehold interest (above market) (3,072) (3,072) Intangibles - other (above market) (387) (329) In-place lease valuation & land leasehold interest - accumulated amortization 52,143 50,634 Intangible liabilities, net $ (29,175) $ (30,626) Tenant origination and absorption cost $ 876,324 $ 876,324 Tenant origination and absorption cost - accumulated amortization (493,267) (473,893) Tenant origination and absorption cost, net $ 383,057 $ 402,431 The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, net, tenant origination and absorption costs, ground leasehold improvements, other intangibles, and other leasing costs as of March 31, 2022 for the next five years: Year In-place lease valuation, net Tenant origination and absorption costs Ground leasehold interest Other intangibles Other leasing costs Remaining 2022 $ (1,541) $ 56,892 $ (218) $ 1,125 $ 4,672 2023 $ (2,616) $ 68,705 $ (290) $ 1,494 $ 6,265 2024 $ (1,769) $ 55,006 $ (291) $ 1,498 $ 6,127 2025 $ (1,298) $ 43,379 $ (290) $ 1,494 $ 6,069 2026 $ (1,151) $ 38,709 $ (290) $ 1,494 $ 5,345 2027 $ (837) $ 30,829 $ (290) $ 1,494 $ 4,216 Restricted Cash In conjunction with the acquisition of certain assets, as required by certain lease provisions or certain lenders in conjunction with an acquisition or debt financing, or credits received by the seller of certain assets, the Company assumed or funded reserves for specific property improvements and deferred maintenance, re-leasing costs, and taxes and insurance, which are included on the consolidated balance sheets as restricted cash. Additionally, an ongoing replacement reserve is funded by certain tenants pursuant to each tenant’s respective lease as follows: Balance as of March 31, 2022 December 31, 2021 Cash reserves $ 15,533 $ 15,234 Restricted lockbox 3,561 2,288 Total $ 19,094 $ 17,522

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt As of March 31, 2022 and December 31, 2021, the Company’s debt consisted of the following: March 31, 2022 December 31, 2021 Contractual Interest Rate (1) Loan Effective Interest Rate (2) HealthSpring Mortgage Loan $ 19,528 $ 19,669 4.18% April 2023 4.63% Midland Mortgage Loan 95,420 95,792 3.94% April 2023 4.14% Samsonite Loan 18,841 19,114 6.08% September 2023 5.06% Highway 94 Loan 13,488 13,732 3.75% August 2024 4.88% Pepsi Bottling Ventures Loan 18,124 18,218 3.69% October 2024 3.92% AIG Loan II 124,045 124,606 4.15% November 2025 4.93% BOA Loan 375,000 375,000 3.77% October 2027 3.91% BOA/KeyBank Loan 250,000 250,000 4.32% May 2028 4.14% AIG Loan 101,370 101,884 4.96% February 2029 5.08% Total Mortgage Debt 1,015,816 1,018,015 Revolving Credit Facility (3) 373,500 373,500 LIBO Rate + 1.45% June 2023 1.81% 2023 Term Loan 200,000 200,000 LIBO Rate + 1.40% June 2023 1.73% 2024 Term Loan 400,000 400,000 LIBO Rate + 1.40% April 2024 1.72% 2025 Term Loan 400,000 400,000 LIBO Rate + 1.40% December 2025 1.82% 2026 Term Loan 150,000 150,000 LIBO Rate + 1.40% April 2026 1.73% Total Debt 2,539,316 2,541,515 Unamortized Deferred Financing Costs and Discounts, net (8,249) (9,138) Total Debt, net $ 2,531,067 $ 2,532,377 (1) Including the effect of the interest rate swap agreements with a total notional amount of $750.0 million, the weighted average interest rate as of March 31, 2022 was 3.20% for both the Company’s fixed-rate and variable-rate debt combined and 3.86% for the Company’s fixed-rate debt only. (2) Reflects the effective interest rate as of March 31, 2022 and includes the effect of amortization of discounts/premiums and deferred financing costs. Second Amended and Restated Credit Agreement Pursuant to the Second Amended and Restated Credit Agreement dated as of April 30, 2019 (as amended by the First Amendment to the Second Amended and Restated Credit Agreement dated as of October 1, 2020, the Second Amendment to the Second Amended and Restated Credit Agreement dated as of December 18, 2020 and the Third Amendment to the Second Amended and Restated Credit Agreement dated as of July 14, 2021 (the “Third Amendment”), the “Second Amended and Restated Credit Agreement”), with KeyBank National Association (“KeyBank”) as administrative agent, and a syndicate of lenders, we, through the GRT OP, as the borrower, have been provided with a $1.9 billion credit facility consisting of a $750 million senior unsecured revolving credit facility (the “Revolving Credit Facility”) maturing in June 2022 with (subject to the satisfaction of certain customary conditions) a one-year extension option, a $200 million senior unsecured term loan maturing in June 2023 (the “$200M 5-Year Term Loan”), a $400 million senior unsecured term loan maturing in April 2024 (the “$400M 5-Year Term Loan”), a $400 million senior unsecured term loan maturing in December 2025 (the “$400M 5-Year Term Loan 2025”) (collectively, the “KeyBank Loans”), and a $150 million senior unsecured term loan maturing in April 2026 (the “$150M 7-Year Term Loan”). The credit facility also provides the option, subject to obtaining additional commitments from lenders and certain other customary conditions, to increase the commitments under the Revolving Credit Facility, increase the existing term loans and/or incur new term loans by up to an additional $600 million in the aggregate. As of March 31, 2022, the remaining capacity under the Revolving Credit Facility was $376.5 million. Based on the terms as of March 31, 2022, the interest rate for the credit facility varies based on the consolidated leverage ratio of the GRT OP, us, and our subsidiaries and ranges (a) in the case of the Revolving Credit Facility, from LIBOR plus 1.30% to LIBOR plus 2.20%, (b) in the case of each of the $200M 5-Year Term Loan, the $400M 5-Year Term Loan, the $400M 5-Year Term Loan 2025, and the $150M 7-Year Term Loan, from LIBOR plus 1.25% to LIBOR plus 2.15%. If the GRT OP obtains an investment grade rating of its senior unsecured long term debt from Standard & Poor's Rating Services, Moody's Investors Service, Inc., or Fitch, Inc., the applicable LIBOR margin and base rate margin will vary based on such rating and range (i) in the case of the Revolving Credit Facility, from LIBOR plus 0.825% to LIBOR plus 1.55%, (ii) in the case of each of the $200M 5-Year Term Loan, the $400M 5-Year Term Loan and the $400M 5-Year Term Loan 2025, and the $150M 7-Year Term Loan, from LIBOR plus 1.90% to LIBOR plus 1.75%. On March 1, 2021, the Company exercised its right to draw on the $400M 5-Year Term Loan 2025 to repay CCIT II's existing debt balance in connection with the CCIT II Merger. The Second Amended and Restated Credit Agreement provides that the GRT OP must maintain a pool of unencumbered real properties (each a "Pool Property" and collectively the "Pool Properties") that meet certain requirements contained in the Second Amended and Restated Credit Agreement. The agreement sets forth certain covenants relating to the Pool Properties, including, without limitation, the following: • there must be no less than 15 Pool Properties at any time; • no greater than 15% of the aggregate pool value may be contributed by a single Pool Property or tenant; • no greater than 15% of the aggregate pool value may be contributed by Pool Properties subject to ground leases; • no greater than 20% of the aggregate pool value may be contributed by Pool Properties which are under development or assets under renovation; • the minimum aggregate leasing percentage of all Pool Properties must be no less than 90%; and • other limitations as determined by KeyBank upon further due diligence of the Pool Properties. Borrowing availability under the Second Amended and Restated Credit Agreement is limited to the lesser of the maximum amount of all loans outstanding that would result in (i) an unsecured leverage ratio of no greater than 60%, or (ii) an unsecured interest coverage ratio of no less than 2.00:1.00. Guarantors of the KeyBank Loans include the Company, each special purpose entity that owns a Pool Property, and each of the GRT OP's other subsidiaries which owns a direct or indirect equity interest in a SPE that owns a Pool Property. In addition to customary representations, warranties, covenants, and indemnities, the KeyBank Loans require the GRT OP to comply with the following at all times, which will be tested on a quarterly basis: • a maximum consolidated leverage ratio of 60%, or, the ratio may increase to 65% for up to four consecutive quarters after a material acquisition; • a minimum consolidated tangible net worth of 75% of the Company's consolidated tangible net worth at closing of the Revolving Credit Facility, or approximately $2.0 billion, plus 75% of net future equity issuances (including GRT OP Units), minus 75% of the amount of any payments used to redeem the Company's stock or GRT OP Units, minus any amounts paid for the redemption or retirement of or any accrued return on the preferred equity issued under the preferred equity investment made in EA-1 in August 2018 by SHBNPP Global Professional Investment Type Private Real Estate Trust No. 13 (H); • upon consummation, if ever, of an initial public offering, a minimum consolidated tangible net worth of 75% of the Company's consolidated tangible net worth at the time of such initial public offering plus 75% of net future equity issuances (including GRT OP Units) should the Company publicly list its shares; • a minimum consolidated fixed charge coverage ratio of not less than 1.50:1.00; • a maximum total secured debt ratio of not greater than 40%, which ratio will increase by five percentage points for four quarters after closing of a material acquisition that is financed with secured debt; • a minimum unsecured interest coverage ratio of 2.00:1.00; • a maximum total secured recourse debt ratio, excluding recourse obligations associated with interest rate hedges, of 10% of our total asset value; and • aggregate maximum unhedged variable rate debt of not greater than 30% of the Company's total asset value. Furthermore, the activities of the GRT OP, the Company, and the Company's subsidiaries must be focused principally on the ownership, development, operation and management of office, industrial, manufacturing, warehouse, distribution or educational properties (or mixed uses thereof) and businesses reasonably related or ancillary thereto. Debt Covenant Compliance Pursuant to the terms of the Company's mortgage loans and the KeyBank Loans, the GRT OP, in consolidation with the Company, is subject to certain loan compliance covenants. The Company was in compliance with all of its debt covenants as of March 31, 2022.

Interest Rate Contracts

Interest Rate Contracts	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Contracts	Interest Rate Contracts Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both business operations and economic conditions. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the values of which are determined by expected cash payments principally related to borrowings and interest rates. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company does not use derivatives for trading or speculative purposes. Derivative Instruments The Company has entered into interest rate swap agreements to hedge the variable cash flows associated with certain existing or forecasted LIBOR based variable-rate debt, including the Company's KeyBank Loans. The change in the fair value of derivatives designated and qualifying as cash flow hedges is initially recorded in accumulated other comprehensive income (“AOCI”) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. The following table sets forth a summary of the interest rate swaps at March 31, 2022 and December 31, 2021: Fair Value (1) Current Notional Amounts Derivative Instrument Effective Date Maturity Date Interest Strike Rate March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Assets/(Liabilities): Interest Rate Swap 3/10/2020 7/1/2025 0.83% $ 7,953 $ 1,648 $ 150,000 $ 150,000 Interest Rate Swap 3/10/2020 7/1/2025 0.84% 5,270 1,059 100,000 100,000 Interest Rate Swap 3/10/2020 7/1/2025 0.86% 3,910 749 75,000 75,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% (1,407) (7,342) 125,000 125,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% (1,160) (5,909) 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.83% (1,154) (5,899) 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.84% (1,205) (5,958) 100,000 100,000 Total $ 12,207 $ (21,652) $ 750,000 $ 750,000 (1) The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of March 31, 2022, derivatives in an asset or liability position are included in the line item "Interest rate swap asset” or “Interest rate swap liability" in the consolidated balance sheets at fair value. The LIBO rate as of March 31, 2022 (ef fe ctive dat e) was 0.24%. The following table sets forth the impact of the interest rate swaps on the consolidated statements of operations for the periods presented: Three Months Ended March 31, 2022 2021 Interest Rate Swap in Cash Flow Hedging Relationship: Amount of loss recognized in AOCI on derivatives $ (30,450) $ (16,447) Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense” $ (3,409) $ 16,416 Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 21,666 $ 20,685 During the twelve months subsequent to March 31, 2022, the Company estimates that an additional $1.3 million of its expense will be recognized from AOCI into earnings. Certain agreements with the derivative counterparties contain a provision that if the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender within a specified time period, then the Company could also be declared in default on its derivative obligations. As of March 31, 2022 and December 31, 2021, the fair value of interest rate swaps that were in a liability position, which excludes any adjustment for nonperformance risk related to these agreements, was approximately $4.9 million and $25.1 million , respectively. As of March 31, 2022 and December 31, 2021, the Company had not posted any collateral related to these agreements.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Prepaid tenant rent $ 22,508 $ 26,477 Real estate taxes payable 11,473 14,751 Interest payable 10,816 9,683 Accrued tenant improvements 8,946 10,123 Deferred compensation 8,731 10,119 Property operating expense payable 5,361 11,126 Other liabilities 35,834 26,842 Total $ 103,669 $ 109,121

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company is required to disclose fair value information about all financial instruments, whether or not recognized in the consolidated balance sheets, for which it is practicable to estimate fair value. The Company measures and discloses the estimated fair value of financial assets and liabilities utilizing a fair value hierarchy that distinguishes between data obtained from sources independent of the reporting entity and the reporting entity’s own assumptions about market participant assumptions. This hierarchy consists of three broad levels, as follows: (i) quoted prices in active markets for identical assets or liabilities, (ii) “significant other observable inputs,” and (iii) “significant unobservable inputs.” “Significant other observable inputs” can include quoted prices for similar assets or liabilities in active markets, as well as inputs that are observable for the asset or liability, such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. “Significant unobservable inputs” are typically based on an entity’s own assumptions, since there is little, if any, related market activity. In instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level of input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. There were no transfers between the levels in the fair value hierarchy during the three months ended March 31, 2022 and the year ended December 31, 2021. The following table sets forth the assets and liabilities that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2022 and December 31, 2021: Assets/(Liabilities) Total Fair Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2022 Interest Rate Swap Asset $ 17,133 $ — $ 17,133 $ — Interest Rate Swap Liability $ (4,926) $ — $ (4,926) $ — Corporate Owned Life Insurance Asset $ 6,664 $ — $ 6,664 $ — Mutual Funds Asset $ 5,427 $ 5,427 $ — $ — December 31, 2021 Interest Rate Swap Asset $ 3,456 $ — $ 3,456 $ — Interest Rate Swap Liability $ (25,108) $ — $ (25,108) $ — Corporate Owned Life Insurance Asset $ 6,875 $ — $ 6,875 $ — Mutual Funds Asset $ 5,543 $ 5,543 $ — $ — Financial Instruments Disclosed at Fair Value Financial instruments as of March 31, 2022 and December 31, 2021 consisted of cash and cash equivalents, restricted cash, accounts receivable, accrued expenses and other liabilities, and mortgage payable and other borrowings, as defined in Note 4, Debt. With the exception of the mortgage loans in the table below, the amounts of the financial instruments presented in the consolidated financial statements substantially approximate their fair value as of March 31, 2022 and December 31, 2021. The fair value of the nine mortgage loans in the table below is estimated by discounting each loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. The Company determined that the mortgage debt valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt. March 31, 2022 December 31, 2021 Fair Value Carrying Value (1) Fair Value Carrying Value (1) BOA Loan $ 338,933 $ 375,000 $ 349,082 $ 375,000 BOA/KeyBank Loan 245,057 250,000 260,378 250,000 AIG Loan II 115,809 124,045 120,141 124,606 AIG Loan 96,620 101,370 99,697 101,884 Midland Mortgage Loan 94,412 95,420 95,720 95,792 Samsonite Loan 18,965 18,841 19,366 19,114 HealthSpring Mortgage Loan 19,281 19,528 19,639 19,669 Pepsi Bottling Ventures Loan 17,657 18,124 18,262 18,218 Highway 94 Loan 12,784 13,488 13,360 13,732 Total $ 959,518 $ 1,015,816 $ 995,645 $ 1,018,015 (1) The carrying values do not include the debt premium/(discount) or deferred financing costs as of March 31, 2022 and December 31, 2021. See Note 4, Debt

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Equity	Equity Classes Class T shares, Class S shares, Class D shares, Class I shares, Class A shares, Class AA shares, Class AAA and Class E shares vote together as a single class, and each share is entitled to one vote on each matter submitted to a vote at a meeting of the Company's stockholders; provided that with respect to any matter that would only have a material adverse effect on the rights of a particular class of common stock, only the holders of such affected class are entitled to vote . The following table sets forth the classes of outstanding common stock as of March 31, 2022 and December 31, 2021: As of March 31, 2022 December 31, 2021 Class A 24,509,573 24,509,573 Class AA 47,592,118 47,592,118 Class AAA 926,936 926,936 Class D 42,013 42,013 Class E 249,166,308 249,088,676 Class I 1,911,732 1,911,731 Class S 1,800 1,800 Class T 565,265 565,265 Common Equity As of March 31, 2022, the Company had received aggregate gross offering proceeds of approximately $2.8 billion from the sale of shares in the private offering, the public offerings, the DRP offerings and mergers (includes EA-1 offerings and EA-1 merger with Signature Office REIT, Inc., the EA Mergers and the CCIT II Merger), as discussed in Note 1, Organization . As part of the $2.8 billion from the sale of shares, the Company issued approximately 43,772,611 shares of its common stock upon the consummation of the merger of Signature Office REIT, Inc. in June 2015 and 174,981,547 Class E shares (in exchange for all outstanding shares of EA-1's common stock at the time of the EA Mergers) in April 2019 upon the consummation of the EA Mergers and 93,457,668 Class E shares (in exchange for all the outstanding shares of CCIT II's common stock at the time of the CCIT II Merger). As of March 31, 2022, there were 324,715,745 shares outstanding, including shares issued pursuant to the DRP, less shares redeemed pursuant to the SRP and the self-tender offer, which occurred in May 2019. Termination of Follow-On Offering The Company’s follow-on offering of up to $2.2 billion shares, consisting of up to $2.0 billion of shares in our primary offering and $0.2 billion of shares pursuant to our DRP (collectively, the “Follow-On Offering”) terminated with the expiration of the registration statement on Form S-11 (Registration No. 333-217223), as amended, on September 20, 2020. Distribution Reinvestment Plan (DRP) The Company has adopted the DRP, which allows stockholders to have dividends and other distributions otherwise distributable to them invested in additional shares of common stock. No sales commissions or dealer manager fees will be paid on shares sold through the DRP, but the DRP shares will be charged the applicable distribution fee payable with respect to all shares of the applicable class. The purchase price per share under the DRP is equal to the net asset value ("NAV") per share applicable to the class of shares purchased, calculated using the most recently published NAV available at the time of reinvestment. The Company may amend or terminate the DRP for any reason at any time upon 10 days' prior written notice to stockholders, which may be provided through the Company's filings with the SEC. In connection with a potential strategic transaction, on February 26, 2020, the Board approved the temporary suspension of the DRP, effective March 8, 2020. On July 16, 2020, the Board approved the reinstatement of the DRP, effective July 27, 2020 and an amendment of the DRP to allow for the use of the most recently published NAV per share of the applicable share class available at the time of reinvestment as the DRP purchase price for each share class. On July 17, 2020, the Company filed a registration statement on Form S-3 for the registration of up to $100 million in shares pursuant to the Company's DRP (the “DRP Offering”). The DRP Offering may be terminated at any time upon 10 days’ prior written notice to stockholders. The following table summarizes the DRP offerings, by share class, as of March 31, 2022: Share Class Amount Shares Class A $ 9,687 1,052,170 Class AA 19,047 2,068,367 Class AAA 290 31,521 Class D 21 2,231 Class E 311,405 32,299,362 Class I 437 47,028 Class S — 12 Class T 177 19,090 Total $ 341,064 35,519,781 As of March 31, 2022 and December 31, 2021, the Company had issued approximately $341.1 million in shares pursuant to the DRP offerings. DRP Suspension On October 1, 2021, the Board approved a temporary suspension of the DRP, effective October 11, 2021. Share Redemption Program (SRP) The Company has adopted the SRP that enables stockholders to sell their stock to the Company in limited circumstances (see “SRP Suspension” below for details on the suspension of the SRP). On August 8, 2019, the Board amended and restated its SRP, effective as of September 12, 2019, in order to (i) clarify that only those stockholders who purchased their shares from us or received their shares from the Company (directly or indirectly) through one or more non-cash transactions (including transfers to trusts, family members, etc.) may participate in the SRP; (ii) allocate capacity within each class of common stock such that the Company may redeem up to 5% of t he aggregate NAV of each class of common stock; (iii) treat all unsatisfied redemption requests (or portion thereof) as a request for redemption the following quarter unless otherwise withdrawn; and (iv) make certain other clarifying changes. On November 7, 2019, the Board amended and restated the SRP, effective as of December 12, 2019, in order to (i) provide for redemption sought upon a stockholder’s determination of incompetence or incapacitation; (ii) clarify the circumstances under which a determination of incompetence or incapacitation will entitle a stockholder to such redemption; and (iii) make certain other clarifying changes. In connection with a potential strategic transaction, on February 26, 2020, the Board approved the temporary suspension of the SRP, effective March 28, 2020. On July 16, 2020, the Board approved the partial reinstatement of the SRP, effective August 17, 2020, subject to the following limitations: (A) redemptions will be limited to those sought upon a stockholder’s death, qualifying disability, or determination of incompetence or incapacitation in accordance with the terms of the SRP, and (B) the quarterly cap on aggregate redemptions will be equal to the aggregate NAV, as of the last business day of the previous quarter, of the shares issued pursuant to the DRP during such quarter. Settlements of share redemptions will be made within the first three Under the SRP, the Company will redeem shares as of the last business day of each quarter. The redemption price will be equal to the NAV per share for the applicable class generally on the 13th day of the month prior to quarter end (which will be the most recently published NAV). Redemption requests must be received by 4:00 p.m. (Eastern time) on the second to last business day of the applicable quarter. Redemption requests exceeding the quarterly cap will be filled on a pro rata basis. With respect to any pro rata treatment, redemption requests following the death or qualifying disability of a stockholder will be considered first, as a group, followed by requests where pro rata redemption would result in a stockholder owning less than the minimum balance of $2,500 of shares of the Company's common stock, which will be redeemed in full to the extent there are available funds, with any remaining available funds allocated pro rata among all other redemption requests. All unsatisfied redemption requests must be resubmitted after the start of the next quarter, or upon the recommencement of the SRP, as applicable. There are several restrictions under the SRP. Stockholders generally must hold their shares for one year before submitting their shares for redemption under the program; however, the Company will waive the one-year holding period in the event of the death or qualifying disability of a stockholder. Shares issued pursuant to the DRP are not subject to the one-year holding period. In addition, the SRP generally imposes a quarterly cap on aggregate redemptions of the Company's shares equal to a value of up to 5% of the aggregate NAV of the outstanding shares as of the last business day of the previous quarter, subject to the further limitations as indicated in the August 8, 2019 amendments discussed above. As the value on the aggregate redemptions of the Company's shares is outside the Company's control, the 5% quarterly cap is considered to be temporary equity and is presented as common stock subject to redemption on the accompanying consolidated balance sheets. The following table summarizes share redemption (excluding the self-tender offer) activity during the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 Shares of common stock redeemed — 772,265 Weighted average price per share $ — $ 8.96 Since July 31, 2014 and through March 31, 2022, the Company had redeemed 28,304,928 shares (excluding the self-tender offer) of common stock for approximately $265.5 million at a weighted average price per share of $9.38 pursuant to the SRP. SRP Suspension On October 1, 2021, the Company announced that it will suspend the SRP beginning with the next cycle, which commenced during fourth quarter 2021. Issuance of Restricted Stock Units to Executive Officers, Employees and Directors The restricted stock units (“RSUs”) granted from 2019 through 2021 (no RSUs have been granted in 2022) were pursuant to the Company’s Employee and Director Long-Term Incentive Plan (the “Plan”). The Plan provides for the grant of awards to the Company’s directors, full-time employees and certain consultants that provide services to the Company or affiliated entities. Awards granted under the Plan may consist of stock options, restricted stock, stock appreciation rights, distribution equivalent rights and other equity-based awards. The stock-based payments are measured at fair value and recognized as compensation expense over the vesting period. At the 2020 annual meeting of stockholders, stockholders approved an amended and restated Plan (the “Amended and Restated Plan”) that reduced the maximum number of shares authorized under the Plan to 7,000,000 shares, among other changes. Awards that vest or are granted on or after March 30, 2020 (the effective date of the Amended and Restated Plan) are subject to the terms and provisions of the Amended and Restated Plan. As of March 31, 2022, approximately 5,519,453 shares were available for future issuance under the Amended and Restated Plan. As of March 31, 2022, there was $11.1 million of unrecognized compensation expense remaining, which vests between two Total compensation expense for the three months ended March 31, 2022 and 2021 was approximately $1.8 million and $1.7 million, respectively. Number of Unvested Shares of RSU Awards Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2020 943,836 Granted 1,619,255 $ 8.97 Forfeited (222,367) $ 9.10 Vested (812,111) $ 9.24 Balance at December 31, 2021 1,528,613 Granted — $ — Forfeited (33,208) $ 9.10 Vested (1) (128,235) $ 8.97 Balance at March 31, 2022 1,367,170 (1) Total shares vested include 50,587 shares of common stock that were tendered by employees during the three months ended March 31, 2022 to satisfy minimum statuary tax with holdings requirements associated with the vesting of RSU’s.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represent limited partnership interests in the GRT OP in which the Company is the general partner. General partnership units and limited partnership units of the GRT OP were issued as part of the initial capitalization of the GRT OP and GCEAR II Operating Partnership, in conjunction with members of management's contribution of certain assets, other contributions, and in connection with the self-administration transaction as discussed in Note 1, Organization. As of March 31, 2022, noncontrolling interests were approximately 9.0% of total shares and 8.8% of weighted average shares outstanding (both measures assuming GRT OP Units were converted to common stock). The Company has evaluated the terms of the limited partnership interests in the GRT OP, and as a result, has classified limited partnership interests issued in the initial capitalization, in conjunction with the contributed assets and in connection with the self-administration transaction, as noncontrolling interests, which are presented as a component of permanent equity, except as discussed below. The Company evaluates individual noncontrolling interests for the ability to recognize the noncontrolling interest as permanent equity on the consolidated balance sheets at the time such interests are issued and on a continual basis. Any noncontrolling interest that fails to qualify as permanent equity has been reclassified as temporary equity and adjusted to the greater of (a) the carrying amount or (b) its redemption value as of the end of the period in which the determination is made. As of March 31, 2022, the limited partners of the GRT OP owned approximately 31.8 million GRT OP Units, which were issued to affiliated parties and unaffiliated third parties in exchange for the contribution of certain properties to the Company, and in connection with the self-administration transaction and other services. In addition, 0.2 million GRT OP Units were issued to unaffiliated third parties unrelated to property contributions. To the extent the contributors should elect to redeem all or a portion of their GRT OP Units, pursuant to the terms of the respective contribution agreement, such redemption shall be at a per unit value equivalent to the price at which the contributor acquired its GRT OP Units in the respective transaction. The limited partners of the GRT OP, other than those related to the Will Partners REIT, LLC ("Will Partners") property contribution, will have the right to cause the general partner of the GRT OP, the Company, to redeem their GRT OP Units for cash equal to the value of an equivalent number of shares, or, at the Company’s option, purchase their GRT OP Units by issuing one share of the Company’s common stock for the original redemption value of each limited partnership unit redeemed. The Company has the control and ability to settle such requests in shares. These rights may not be exercised under certain circumstances which could cause the Company to lose its REIT election. The following summarizes the activity for noncontrolling interests recorded as equity for the three months ended March 31, 2022 and year ended December 31, 2021: Three Months Ended March 31, 2022 Year Ended December 31, 2021 Beginning balance $ 218,653 $ 226,550 Reclass of noncontrolling interest subject to redemption 99 (159) Distributions to noncontrolling interests (2,698) (10,942) Allocated distributions to noncontrolling interests subject to redemption (4) (18) Allocated net income 19 66 Allocated other comprehensive income 2,979 3,156 Ending balance $ 219,048 $ 218,653 Noncontrolling interests subject to redemption Operating partnership units issued pursuant to the Will Partners property contribution are not included in permanent equity on the consolidated balance sheets. The partners holding these units can cause the general partner to redeem the units for the cash value, as defined in the GRT OP agreement. As the general partner does not control these redemptions, these units are presented on the consolidated balance sheets as noncontrolling interest subject to redemption at their redeemable value. The net income (loss) and distributions attributed to these limited partners is allocated proportionately between common stockholders and other noncontrolling interests that are not considered redeemable.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Summarized below are the related party transaction costs incurred by the Company for the three months ended March 31, 2022 and 2021, respectively, and any related amounts receivable and payable as of March 31, 2022 and December 31, 2021: Incurred for the Three Months Ended Receivable as of March 31, March 31, December 31, 2022 2021 2022 2021 Due from GCC Reimbursable Expense Allocation $ — $ — $ 11 $ 11 Payroll/Expense Allocation 5 5 265 260 Total $ 5 $ 5 $ 276 $ 271 Incurred for the Three Months Ended Payable as of March 31, March 31, December 31, 2022 2021 2022 2021 Expensed Costs advanced by the advisor $ 649 $ 501 $ 873 $ 929 Administrative reimbursement 510 625 648 461 Assumed through Self-Administration Transaction/Mergers Earn-out — — 180 197 Stockholder Servicing Fee — — 92 92 Other Distributions 2,142 2,142 739 739 Total $ 3,301 $ 3,268 $ 2,532 $ 2,418 Dealer Manager Agreement The Company entered into a dealer manager agreement and associated form of participating dealer agreement (the “Dealer Manager Agreement”) with the dealer manager for the Follow-On Offering. The terms of the Dealer Manager Agreement are substantially similar to the terms of the dealer manager agreement from the Company's initial public offering, except as it relates to the share classes offered and the fees to be received by the dealer manager. The Follow-On Offering terminated on September 20, 2020. See Note 8, Equity. Subject to the Financial Industry Regulatory Authority, Inc.'s limitations on underwriting compensation, under the Dealer Manager Agreement the Company required payment to the dealer manager of a distribution fee for ongoing services rendered to stockholders by participating broker-dealers or broker-dealers servicing investors’ accounts, referred to as servicing broker-dealers. The fee accrued daily, is paid monthly in arrears, and is calculated based on the average daily NAV for the applicable month. Conflicts of Interest Administrative Services Agreement In connection with EA-1’s self-administration transaction, the Company, GRT OP, L.P., Griffin Capital Essential Asset TRS, Inc. and Griffin Capital Real Estate Company, LLC, on the one hand, and GCC and Griffin Capital, LLC (“GC LLC”), on the other hand, entered into that certain Administrative Services Agreement dated December 14, 2018 (as amended, the “ASA”), pursuant to which GCC and GC LLC continue to provide office space and certain operational and administrative services at cost to Company. The Company’s Executive Chairman is also the Chief Executive Officer of and controls GCC, which is the sole member of GC LLC. The Company pays GCC a monthly amount based on the actual costs anticipated to be incurred by GCC for the provision of such office space and services until such items are terminated from the ASA. Such costs are reconciled periodically and a full review of the costs will be performed at least annually. In addition, the Company will directly pay or reimburse GCC for the actual cost of any reasonable third-party expenses incurred in connection with the provision of such services. On March 30, 2022, the Company amended the Administrative Services Agreement to reduce the scope of services provided, including removing the provision of office space. Following such amendment, GCC and GC LLC are obligated to provide the Company with human resources support, advisor services and operator support, and general corporate support on an as-needed basis. Office Sublease On March 25, 2022, the Company executed a sublease agreement with GCC (the “Sublease”) for the building located at 1520 E. Grand Ave, El Segundo, CA (the “Building”) which is the location of the Company’s corporate headquarters. The Building is part of a campus that contains other buildings and parking (the “Campus”). The Sublease also entitles the Company to use certain common areas on the Campus. Prior to the sublease agreement being signed, the rent for the office space was paid to GCC as part of the Administrative Services Agreement. The Campus is owned by GCPI, LLC (“GCPI”), and the Building is master leased by GCPI to GCC. GCC is the sublessor under the Sublease. The Company’s Executive Chairman is the Chief Executive Officer of and controls GCC and is also affiliated with GCPI. The Sublease provides for initial monthly base rent of $0.05 million, subject to annual escalations of 3% commencing on April 21, 2022, as well as additional rent for certain operating expenses for the Building and portions of the Campus. The Company’s Executive Chairman is the Chief Executive Officer of and controls GCC and is also affiliated with GCPI. Certain Conflict Resolution Procedures Every transaction that the Company enters into with affiliates is subject to an inherent conflict of interest. The Board may encounter conflicts of interest in enforcing the Company's rights against any affiliate in the event of a default by or disagreement with an affiliate or in invoking powers, rights or options pursuant to any agreement between the Company and affiliates. See the Company's Code of Ethics available at the “Governance Documents” subpage of the “Investors” section of the Company's website at www.grtreit.com for a detailed description of the Company's conflict resolution procedures.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases Lessor The Company leases commercial and industrial space to tenants primarily under non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum lease payments are recognized in rental income on a straight-line basis over the term of the related lease and estimated reimbursements from tenants for real estate taxes, insurance, common area maintenance and other recoverable operating expenses are recognized in rental income in the period that the expenses are incurred. The Company recognized $97.2 million and $83.9 million of lease income related to operating lease payments for the three months ended March 31, 2022 and 2021, respectively. The Company's current leases have expirations ranging from 2022 to 2044. The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of March 31, 2022: As of March 31, 2022 Remaining 2022 $ 283,940 2023 372,469 2024 332,248 2025 289,826 2026 264,937 Thereafter 1,016,424 Total $ 2,559,844 The future minimum base rents in the table above excludes tenant reimbursements of operating expenses, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles. Lessee Certain of the Company’s real estate are subject to ground leases. The Company’s ground leases are classified as either operating leases or financing leases based on the characteristics of each lease. As of March 31, 2022, the Company had six ground leases classified as operating and two ground leases classified as financing. Each of the Company’s ground leases were acquired as part of the acquisition of real estate and no incremental costs were incurred for such ground leases. The Company’s ground leases are non-cancelable, and contain no renewal options. The Company's Chicago office space lease has a remaining lease term of approximately three years and no option to renew. On March 25, 2022, the Company executed a sublease agreement with GCC for the building which is the Company’s corporate headquarters (See Note 10, Related Party Transactions for details). The Company leases office space as part of conducting day-to-day business in El Segundo. The Company's office space lease has a remaining lease term of approximately three years and one option to renew for a period of five years. As of March 31, 2022, the Company recorded a lease liability and a right-of-use asset for approximately $1.2 million and is included in Right of Use Asset and Lease Liability on the Company’s consolidated balance sheet. The Company incurred operating lease costs of approximately $1.1 million and $0.9 million for the three months ended March 31, 2022 and 2021, respectively, which are included in “Property Operating Expense” in the accompanying consolidated statement of operations. Total cash paid for amounts included in the measurement of operating lease liabilities was $0.6 million and $0.4 million for the three months ended March 31, 2022 and 2021, respectively. The following table sets forth the weighted-average for the lease term and the discount rate as of March 31, 2022: Lease Term and Discount Rate As of March 31, 2022 Weighted-average remaining lease term in years. 72 years Weighted-average discount rate (1) 4.80 % (1) Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate for each lease, the Company considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements. Maturities of lease liabilities as of March 31, 2022 were as follows: As of March 31, 2022 Operating Financing Remaining 2022 $ 1,721 $ 344 2023 2,366 355 2024 2,122 360 2025 1,783 365 2026 1,716 375 2027 1,761 381 Thereafter 282,698 3,458 Total undiscounted lease payments 294,167 5,638 Less: imputed interest (245,546) (2,171) Total lease liabilities $ 48,621 $ 3,467
Leases	Leases Lessor The Company leases commercial and industrial space to tenants primarily under non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum lease payments are recognized in rental income on a straight-line basis over the term of the related lease and estimated reimbursements from tenants for real estate taxes, insurance, common area maintenance and other recoverable operating expenses are recognized in rental income in the period that the expenses are incurred. The Company recognized $97.2 million and $83.9 million of lease income related to operating lease payments for the three months ended March 31, 2022 and 2021, respectively. The Company's current leases have expirations ranging from 2022 to 2044. The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of March 31, 2022: As of March 31, 2022 Remaining 2022 $ 283,940 2023 372,469 2024 332,248 2025 289,826 2026 264,937 Thereafter 1,016,424 Total $ 2,559,844 The future minimum base rents in the table above excludes tenant reimbursements of operating expenses, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles. Lessee Certain of the Company’s real estate are subject to ground leases. The Company’s ground leases are classified as either operating leases or financing leases based on the characteristics of each lease. As of March 31, 2022, the Company had six ground leases classified as operating and two ground leases classified as financing. Each of the Company’s ground leases were acquired as part of the acquisition of real estate and no incremental costs were incurred for such ground leases. The Company’s ground leases are non-cancelable, and contain no renewal options. The Company's Chicago office space lease has a remaining lease term of approximately three years and no option to renew. On March 25, 2022, the Company executed a sublease agreement with GCC for the building which is the Company’s corporate headquarters (See Note 10, Related Party Transactions for details). The Company leases office space as part of conducting day-to-day business in El Segundo. The Company's office space lease has a remaining lease term of approximately three years and one option to renew for a period of five years. As of March 31, 2022, the Company recorded a lease liability and a right-of-use asset for approximately $1.2 million and is included in Right of Use Asset and Lease Liability on the Company’s consolidated balance sheet. The Company incurred operating lease costs of approximately $1.1 million and $0.9 million for the three months ended March 31, 2022 and 2021, respectively, which are included in “Property Operating Expense” in the accompanying consolidated statement of operations. Total cash paid for amounts included in the measurement of operating lease liabilities was $0.6 million and $0.4 million for the three months ended March 31, 2022 and 2021, respectively. The following table sets forth the weighted-average for the lease term and the discount rate as of March 31, 2022: Lease Term and Discount Rate As of March 31, 2022 Weighted-average remaining lease term in years. 72 years Weighted-average discount rate (1) 4.80 % (1) Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate for each lease, the Company considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements. Maturities of lease liabilities as of March 31, 2022 were as follows: As of March 31, 2022 Operating Financing Remaining 2022 $ 1,721 $ 344 2023 2,366 355 2024 2,122 360 2025 1,783 365 2026 1,716 375 2027 1,761 381 Thereafter 282,698 3,458 Total undiscounted lease payments 294,167 5,638 Less: imputed interest (245,546) (2,171) Total lease liabilities $ 48,621 $ 3,467

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. The Company is not a party to any material legal proceedings, nor is the Company aware of any pending or threatened litigation that would have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. Capital Expenditures and Tenant Improvement Commitments As of March 31, 2022, the Company had an aggregate remaining contractual commitment for repositioning, capital expenditure projects, leasing commissions and tenant improvements of approximately $23.8 million.

Declaration of Distributions

Declaration of Distributions	3 Months Ended
	Mar. 31, 2022
Declaration of Distributions [Abstract]
Declaration of Distributions	Declaration of Distributions On November 2, 2021, the Board declared an all-cash distribution rate, based on 365 days in the calendar year, of $0.000958904 per day ($0.35 per share annualized), subject to adjustments for class-specific expenses, per Class E share, Class T share, Class S share, Class D share, Class I share, Class A share, Class AA share and Class AAA share of common stock, for stockholders of record at the close of each business day for the period commencing on January 1, 2022 and ending on March 31, 2022. The Company paid such distributions to each stockholder of record on February 1, 2022, March 1, 2022, and April 1, 2022, respectively. On March 29, 2022, the Board declared an all-cash distribution rate, based on 365 days in the calendar year, of $0.000958904 per day ($0.35 per share annualized), subject to adjustments for class-specific expenses, per Class E share, Class T share, Class S share, Class D share, Class I share, Class A share, Class AA share and Class AAA share of common stock, for stockholders of record at the close of each business day for the period commencing on April 1, 2022 and ending on April 30, 2022. The Company paid such distributions to each stockholder of record on May 2, 2022.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Cash Distributions On April 26, 2022, the Board declared an all-cash distribution rate, based on 365 days in the calendar year, of $0.000958904 per day ($0.35 per share annualized), subject to adjustments for class-specific expenses, per Class E share, Class T share, Class S share, Class D share, Class I share, Class A share, Class AA share and Class AAA share of common stock, for stockholders of record at the close of each business day for the period commencing on May 1, 2022 and ending on May 31, 2022. The Company intends to pay such distributions to each stockholder of record at such time in June 2022 as determined by the Chief Executive Officer. Fourth Amendment to the Second Amended and Restated Credit Agreement Pursuant to the Fourth Amendment to the Second Amended and Restated Credit Agreement (the “Fourth Amendment”), dated April 28, 2022, the Company amended the Company’s maturity extension option on the Revolving Credit Facility from a one-year extension option (to June 2023) to a series of three-month extension options (to September 28, 2022, December 28, 2022, March 28, 2023, and June 28, 2023, respectively). The exercise of each extension option requires the payment of a fee of 0.05% on the extended revolving loan commitments and is subject to certain other customary conditions.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited consolidated financial statements of the Company are prepared by management on the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), and in conjunction with rules and regulations of the SEC. Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements.
Consolidation	The consolidated financial statements of the Company include all accounts of the Company, the GRT OP, and its subsidiaries. Intercompany transactions are not shown on the consolidated statements. However, each property-owning entity is a wholly-owned subsidiary which is a special purpose entity (“SPE”), whose assets and credit are not available to satisfy the debts or obligations of any other entity, except to the extent required with respect to any co-borrower or guarantor under the same credit facility.
Use of Estimates	The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Per Share Data	The Company reports earnings per share for the period as (1) basic earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period, and (2) diluted earnings per share computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding, including common stock equivalents. Unvested RSUs that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The effect of including unvested restricted stock units using the treasury stock method was excluded from our calculation of weighted average shares of common stock outstanding – diluted, as the inclusion would have been anti-dilutive for the three months ended March 31, 2022 and 2021. Total excluded shares were 1,889,475, and 772,817 for the three months ended March 31, 2022 and 2021, respectively.
Segment Information	ASC 280, Segment Reporting, establishes standards for reporting financial and descriptive information about a public entity’s reportable segments. The Company internally evaluates all of the properties and interests therein as one reportable segment.
Change in Consolidated Financial Statements Presentation	Certain amounts in the prior period consolidated financial statements have been reclassified to conform to the current period presentation. Interest rate swap assets have been reclassified from other assets to interest rate swap assets on the balance sheet for all periods presented.
Income Taxes	The Company has elected to be taxed as a REIT under the Internal Revenue Code (“Code”). To qualify as a REIT, the Company must meet certain organizational and operational requirements. The Company intends to adhere to these requirements and maintain its REIT status for the current year and subsequent years. As a REIT, the Company generally will not be subject to federal income taxes on taxable income that is distributed to stockholders. However, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed taxable income, if any. If the Company fails to qualify as a REIT in any taxable year, the Company will then be subject to federal income taxes on the taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service (“IRS”) grants the Company relief under certain statutory provisions. Such an event could materially adversely affect net income and net cash available for distribution to stockholders. As of March 31, 2022, the Company satisfied the REIT requirements and distributed all of its taxable income.Pursuant to the Code, the Company has elected to treat its corporate subsidiary as a taxable REIT subsidiary (a “TRS”). In general, the TRS may perform non-customary services for the Company’s tenants and may engage in any real estate or non-real estate-related business. The TRS will be subject to corporate federal and state income tax.
Goodwill	Goodwill represents the excess of consideration paid over the fair value of underlying identifiable net assets of business acquired. The Company's goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company takes a qualitative approach to consider whether an impairment of goodwill exists prior to quantitatively determining the fair value of the reporting unit in step one of the impairment test. The Company performs its annual assessment on October 1st.
Recently Issued Accounting Pronouncements and Adoption of New Accounting Pronouncements	Changes to GAAP are established by the FASB in the form of ASUs to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not recently issued any other ASUs that the Company expects to be applicable and have a material impact on the Company's financial statements.During the first quarter of 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Schedule of Company's Intangibles	The Company allocated a portion of the acquired and contributed real estate asset value to in-place lease valuation, tenant origination and absorption cost, and other intangibles, as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 In-place lease valuation (above market) $ 49,578 $ 49,578 In-place lease valuation (above market) - accumulated amortization (35,990) (35,049) In-place lease valuation (above market), net 13,588 14,529 Ground leasehold interest (below market) 2,254 2,254 Ground leasehold interest (below market) - accumulated amortization (226) (219) Ground leasehold interest (below market), net 2,028 2,035 Intangibles - other 32,029 32,028 Intangibles - other - accumulated amortization (5,861) (5,492) Intangibles - other, net 26,168 26,536 Intangible assets, net $ 41,784 $ 43,100 In-place lease valuation (below market) $ (77,859) $ (77,859) Land leasehold interest (above market) (3,072) (3,072) Intangibles - other (above market) (387) (329) In-place lease valuation & land leasehold interest - accumulated amortization 52,143 50,634 Intangible liabilities, net $ (29,175) $ (30,626) Tenant origination and absorption cost $ 876,324 $ 876,324 Tenant origination and absorption cost - accumulated amortization (493,267) (473,893) Tenant origination and absorption cost, net $ 383,057 $ 402,431
Schedule of Estimated Annual Amortization (Income) Expense	The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, net, tenant origination and absorption costs, ground leasehold improvements, other intangibles, and other leasing costs as of March 31, 2022 for the next five years: Year In-place lease valuation, net Tenant origination and absorption costs Ground leasehold interest Other intangibles Other leasing costs Remaining 2022 $ (1,541) $ 56,892 $ (218) $ 1,125 $ 4,672 2023 $ (2,616) $ 68,705 $ (290) $ 1,494 $ 6,265 2024 $ (1,769) $ 55,006 $ (291) $ 1,498 $ 6,127 2025 $ (1,298) $ 43,379 $ (290) $ 1,494 $ 6,069 2026 $ (1,151) $ 38,709 $ (290) $ 1,494 $ 5,345 2027 $ (837) $ 30,829 $ (290) $ 1,494 $ 4,216
Restrictions on Cash and Cash Equivalents	Additionally, an ongoing replacement reserve is funded by certain tenants pursuant to each tenant’s respective lease as follows: Balance as of March 31, 2022 December 31, 2021 Cash reserves $ 15,533 $ 15,234 Restricted lockbox 3,561 2,288 Total $ 19,094 $ 17,522

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	As of March 31, 2022 and December 31, 2021, the Company’s debt consisted of the following: March 31, 2022 December 31, 2021 Contractual Interest Rate (1) Loan Effective Interest Rate (2) HealthSpring Mortgage Loan $ 19,528 $ 19,669 4.18% April 2023 4.63% Midland Mortgage Loan 95,420 95,792 3.94% April 2023 4.14% Samsonite Loan 18,841 19,114 6.08% September 2023 5.06% Highway 94 Loan 13,488 13,732 3.75% August 2024 4.88% Pepsi Bottling Ventures Loan 18,124 18,218 3.69% October 2024 3.92% AIG Loan II 124,045 124,606 4.15% November 2025 4.93% BOA Loan 375,000 375,000 3.77% October 2027 3.91% BOA/KeyBank Loan 250,000 250,000 4.32% May 2028 4.14% AIG Loan 101,370 101,884 4.96% February 2029 5.08% Total Mortgage Debt 1,015,816 1,018,015 Revolving Credit Facility (3) 373,500 373,500 LIBO Rate + 1.45% June 2023 1.81% 2023 Term Loan 200,000 200,000 LIBO Rate + 1.40% June 2023 1.73% 2024 Term Loan 400,000 400,000 LIBO Rate + 1.40% April 2024 1.72% 2025 Term Loan 400,000 400,000 LIBO Rate + 1.40% December 2025 1.82% 2026 Term Loan 150,000 150,000 LIBO Rate + 1.40% April 2026 1.73% Total Debt 2,539,316 2,541,515 Unamortized Deferred Financing Costs and Discounts, net (8,249) (9,138) Total Debt, net $ 2,531,067 $ 2,532,377 (1) Including the effect of the interest rate swap agreements with a total notional amount of $750.0 million, the weighted average interest rate as of March 31, 2022 was 3.20% for both the Company’s fixed-rate and variable-rate debt combined and 3.86% for the Company’s fixed-rate debt only. (2) Reflects the effective interest rate as of March 31, 2022 and includes the effect of amortization of discounts/premiums and deferred financing costs.

Interest Rate Contracts (Tables

Interest Rate Contracts (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Interest Rate Swaps	The following table sets forth a summary of the interest rate swaps at March 31, 2022 and December 31, 2021: Fair Value (1) Current Notional Amounts Derivative Instrument Effective Date Maturity Date Interest Strike Rate March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Assets/(Liabilities): Interest Rate Swap 3/10/2020 7/1/2025 0.83% $ 7,953 $ 1,648 $ 150,000 $ 150,000 Interest Rate Swap 3/10/2020 7/1/2025 0.84% 5,270 1,059 100,000 100,000 Interest Rate Swap 3/10/2020 7/1/2025 0.86% 3,910 749 75,000 75,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% (1,407) (7,342) 125,000 125,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% (1,160) (5,909) 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.83% (1,154) (5,899) 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.84% (1,205) (5,958) 100,000 100,000 Total $ 12,207 $ (21,652) $ 750,000 $ 750,000 (1) The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of March 31, 2022, derivatives in an asset or liability position are included in the line item "Interest rate swap asset” or “Interest rate swap liability" in the consolidated balance sheets at fair value. The LIBO rate as of March 31, 2022 (ef fe ctive dat
Derivative Instruments, Gain (Loss)	The following table sets forth the impact of the interest rate swaps on the consolidated statements of operations for the periods presented: Three Months Ended March 31, 2022 2021 Interest Rate Swap in Cash Flow Hedging Relationship: Amount of loss recognized in AOCI on derivatives $ (30,450) $ (16,447) Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense” $ (3,409) $ 16,416 Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 21,666 $ 20,685

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Prepaid tenant rent $ 22,508 $ 26,477 Real estate taxes payable 11,473 14,751 Interest payable 10,816 9,683 Accrued tenant improvements 8,946 10,123 Deferred compensation 8,731 10,119 Property operating expense payable 5,361 11,126 Other liabilities 35,834 26,842 Total $ 103,669 $ 109,121

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measure at Fair Value on a Recurring Basis	The following table sets forth the assets and liabilities that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2022 and December 31, 2021: Assets/(Liabilities) Total Fair Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2022 Interest Rate Swap Asset $ 17,133 $ — $ 17,133 $ — Interest Rate Swap Liability $ (4,926) $ — $ (4,926) $ — Corporate Owned Life Insurance Asset $ 6,664 $ — $ 6,664 $ — Mutual Funds Asset $ 5,427 $ 5,427 $ — $ — December 31, 2021 Interest Rate Swap Asset $ 3,456 $ — $ 3,456 $ — Interest Rate Swap Liability $ (25,108) $ — $ (25,108) $ — Corporate Owned Life Insurance Asset $ 6,875 $ — $ 6,875 $ — Mutual Funds Asset $ 5,543 $ 5,543 $ — $ —
Schedule of Carrying Values and Estimated Fair Values of Financial Instruments	The Company determined that the mortgage debt valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt. March 31, 2022 December 31, 2021 Fair Value Carrying Value (1) Fair Value Carrying Value (1) BOA Loan $ 338,933 $ 375,000 $ 349,082 $ 375,000 BOA/KeyBank Loan 245,057 250,000 260,378 250,000 AIG Loan II 115,809 124,045 120,141 124,606 AIG Loan 96,620 101,370 99,697 101,884 Midland Mortgage Loan 94,412 95,420 95,720 95,792 Samsonite Loan 18,965 18,841 19,366 19,114 HealthSpring Mortgage Loan 19,281 19,528 19,639 19,669 Pepsi Bottling Ventures Loan 17,657 18,124 18,262 18,218 Highway 94 Loan 12,784 13,488 13,360 13,732 Total $ 959,518 $ 1,015,816 $ 995,645 $ 1,018,015 (1) The carrying values do not include the debt premium/(discount) or deferred financing costs as of March 31, 2022 and December 31, 2021. See Note 4, Debt

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Stock by Class	The following table sets forth the classes of outstanding common stock as of March 31, 2022 and December 31, 2021: As of March 31, 2022 December 31, 2021 Class A 24,509,573 24,509,573 Class AA 47,592,118 47,592,118 Class AAA 926,936 926,936 Class D 42,013 42,013 Class E 249,166,308 249,088,676 Class I 1,911,732 1,911,731 Class S 1,800 1,800 Class T 565,265 565,265
Schedule of Stock Issued Under DRP Offering	The following table summarizes the DRP offerings, by share class, as of March 31, 2022: Share Class Amount Shares Class A $ 9,687 1,052,170 Class AA 19,047 2,068,367 Class AAA 290 31,521 Class D 21 2,231 Class E 311,405 32,299,362 Class I 437 47,028 Class S — 12 Class T 177 19,090 Total $ 341,064 35,519,781
Schedule of Share Redemption Activity	The following table summarizes share redemption (excluding the self-tender offer) activity during the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 Shares of common stock redeemed — 772,265 Weighted average price per share $ — $ 8.96
Unvested Shares of Restricted Stock Awards Activity	Number of Unvested Shares of RSU Awards Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2020 943,836 Granted 1,619,255 $ 8.97 Forfeited (222,367) $ 9.10 Vested (812,111) $ 9.24 Balance at December 31, 2021 1,528,613 Granted — $ — Forfeited (33,208) $ 9.10 Vested (1) (128,235) $ 8.97 Balance at March 31, 2022 1,367,170 (1) Total shares vested include 50,587 shares of common stock that were tendered by employees during the three months ended March 31, 2022 to satisfy minimum statuary tax with holdings requirements associated with the vesting of RSU’s.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Schedule of Activity for Noncontrolling Interests	The following summarizes the activity for noncontrolling interests recorded as equity for the three months ended March 31, 2022 and year ended December 31, 2021: Three Months Ended March 31, 2022 Year Ended December 31, 2021 Beginning balance $ 218,653 $ 226,550 Reclass of noncontrolling interest subject to redemption 99 (159) Distributions to noncontrolling interests (2,698) (10,942) Allocated distributions to noncontrolling interests subject to redemption (4) (18) Allocated net income 19 66 Allocated other comprehensive income 2,979 3,156 Ending balance $ 219,048 $ 218,653

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Summarized below are the related party transaction costs incurred by the Company for the three months ended March 31, 2022 and 2021, respectively, and any related amounts receivable and payable as of March 31, 2022 and December 31, 2021: Incurred for the Three Months Ended Receivable as of March 31, March 31, December 31, 2022 2021 2022 2021 Due from GCC Reimbursable Expense Allocation $ — $ — $ 11 $ 11 Payroll/Expense Allocation 5 5 265 260 Total $ 5 $ 5 $ 276 $ 271 Incurred for the Three Months Ended Payable as of March 31, March 31, December 31, 2022 2021 2022 2021 Expensed Costs advanced by the advisor $ 649 $ 501 $ 873 $ 929 Administrative reimbursement 510 625 648 461 Assumed through Self-Administration Transaction/Mergers Earn-out — — 180 197 Stockholder Servicing Fee — — 92 92 Other Distributions 2,142 2,142 739 739 Total $ 3,301 $ 3,268 $ 2,532 $ 2,418

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Undiscounted Cash Flow	The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of March 31, 2022: As of March 31, 2022 Remaining 2022 $ 283,940 2023 372,469 2024 332,248 2025 289,826 2026 264,937 Thereafter 1,016,424 Total $ 2,559,844
Lease Costs	The following table sets forth the weighted-average for the lease term and the discount rate as of March 31, 2022: Lease Term and Discount Rate As of March 31, 2022 Weighted-average remaining lease term in years. 72 years Weighted-average discount rate (1) 4.80 % (1) Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate for each lease, the Company considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements.
Operating Lease Liability Maturity	Maturities of lease liabilities as of March 31, 2022 were as follows: As of March 31, 2022 Operating Financing Remaining 2022 $ 1,721 $ 344 2023 2,366 355 2024 2,122 360 2025 1,783 365 2026 1,716 375 2027 1,761 381 Thereafter 282,698 3,458 Total undiscounted lease payments 294,167 5,638 Less: imputed interest (245,546) (2,171) Total lease liabilities $ 48,621 $ 3,467

Organization (Details)

Organization (Details) $ in Thousands		Mar. 01, 2021USD ($)	Mar. 31, 2022USD ($)propertyshares	Mar. 31, 2022USD ($)propertyshares	Dec. 31, 2021USD ($)shares
Subsidiary, Sale of Stock [Line Items]
Limited liability partnership interest held (percent)			91.00%	91.00%
Number of properties contributed | property			5	5
Proceeds from sale of shares			$ 2,800,000
Common stock, number of shares outstanding (in shares) | shares			324,715,745	324,715,745	324,638,112
Common stock issued	[1]		$ 325	$ 325	$ 325
Private Offerings, Public Offerings, Dividend Reinvestment Plan ("DRP") Offerings and Mergers
Subsidiary, Sale of Stock [Line Items]
Stock issued (shares) | shares			287,136,954	287,136,954
Proceeds from sale of shares				$ 2,800,000
Distribution Reinvestment Plan
Subsidiary, Sale of Stock [Line Items]
Common stock issued			$ 341,100	$ 341,100	$ 341,100
Board Chairman
Subsidiary, Sale of Stock [Line Items]
Partnership units owned (in shares) | shares			2,400,000	2,400,000
Sponsor and Affiliates
Subsidiary, Sale of Stock [Line Items]
Limited liability partnership interest held (percent)			7.80%	7.80%
Third parties
Subsidiary, Sale of Stock [Line Items]
Limited liability partnership interest held (percent)			1.20%	1.20%
CCIT II Merger
Subsidiary, Sale of Stock [Line Items]
Total consideration		$ 1,300,000
Number of shares to be received for each share converted		1.392
[1]	See Note 8, Equity , for the number of shares outstanding of each class of common stock as of March 31, 2022.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2022reportableSegmentshares	Mar. 31, 2021shares
Accounting Policies [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount | shares	1,889,475	772,817
Number of reportable segments | reportableSegment	1

Real Estate - Narrative (Detail

Real Estate - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)stateparcelproperty	Mar. 31, 2021USD ($)
Real Estate [Abstract]
Number of properties | property	121
Land parcel held for future development | parcel	1
Number of states | state	26
Purchase price	$ 5,300,000
Depreciation expense	32,093	$ 26,546
Amortization of intangible assets	$ 20,800

Real Estate - Intangibles (Deta

Real Estate - Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of in-place lease valuation
In-place lease valuation (above market)	$ 49,578	$ 49,578
In-place lease valuation (above market) - accumulated amortization	(35,990)	(35,049)
In-place lease valuation (above market), net	13,588	14,529
Ground leasehold interest (below market)	2,254	2,254
Ground leasehold interest (below market) - accumulated amortization	(226)	(219)
Ground leasehold interest (below market), net	2,028	2,035
Intangibles - other	32,029	32,028
Intangibles - other - accumulated amortization	(5,861)	(5,492)
Intangibles - other, net	26,168	26,536
Intangible assets, net	41,784	43,100
In-place lease valuation (below market)	(77,859)	(77,859)
Land leasehold interest (above market)	(3,072)	(3,072)
Intangibles - other (above market)	(387)	(329)
In-place lease valuation & land leasehold interest - accumulated amortization	52,143	50,634
Intangible liabilities, net	(29,175)	(30,626)
Tenant origination and absorption cost	876,324	876,324
Tenant origination and absorption cost - accumulated amortization	(493,267)	(473,893)
Tenant origination and absorption cost, net	$ 383,057	$ 402,431

Real Estate - Estimated Annual

Real Estate - Estimated Annual Amortization (Details) $ in Thousands	Mar. 31, 2022USD ($)
In-place lease valuation, net
Remaining 2022	$ (1,541)
2023	(2,616)
2024	(1,769)
2025	(1,298)
2026	(1,151)
2027	(837)
Tenant origination and absorption costs
Remaining 2022	56,892
2023	68,705
2024	55,006
2025	43,379
2026	38,709
2027	30,829
Ground leasehold interest
Remaining 2022	(218)
2023	(290)
2024	(291)
2025	(290)
2026	(290)
2027	(290)
Other leasing costs
Remaining 2022	4,672
2023	6,265
2024	6,127
2025	6,069
2026	5,345
2027	4,216
Other intangibles
Other intangibles
Remaining 2022	1,125
2023	1,494
2024	1,498
2025	1,494
2026	1,494
2027	$ 1,494

Real Estate - Ongoing Replaceme

Real Estate - Ongoing Replacement Reserve (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Real Estate [Line Items]
Restricted cash	$ 19,094	$ 17,522
Real Estate Asset Acquisitions and Contributions
Real Estate [Line Items]
Restricted cash	19,094	17,522
Real Estate Asset Acquisitions and Contributions | Cash reserves
Real Estate [Line Items]
Restricted cash	15,533	15,234
Real Estate Asset Acquisitions and Contributions | Restricted lockbox
Real Estate [Line Items]
Restricted cash	$ 3,561	$ 2,288

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 18, 2020	Mar. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total Debt		$ 2,539,316	$ 2,539,316	$ 2,541,515
Unamortized Deferred Financing Costs and Discounts, net		(8,249)	(8,249)	(9,138)
Total Debt, net		2,531,067	2,531,067	2,532,377
Interest Rate Swap
Debt Instrument [Line Items]
Derivative notional amount		$ 750,000	$ 750,000
LIBOR
Debt Instrument [Line Items]
Effective interest rate (percent)		0.24%	0.24%
Mortgages
Debt Instrument [Line Items]
Total Debt		$ 1,015,816	$ 1,015,816	1,018,015
Fixed and variable rate debt
Debt Instrument [Line Items]
Weighted average interest rate of the fixed-rate debt (percent)		3.20%	3.20%
Fixed rate debt
Debt Instrument [Line Items]
Weighted average interest rate of the fixed-rate debt (percent)		3.86%	3.86%
HealthSpring Mortgage Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 19,528	$ 19,528	19,669
Contractual interest rate (percent)		4.18%	4.18%
Effective interest rate (percent)		4.63%	4.63%
Midland Mortgage Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 95,420	$ 95,420	95,792
Contractual interest rate (percent)		3.94%	3.94%
Effective interest rate (percent)		4.14%	4.14%
Samsonite Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 18,841	$ 18,841	19,114
Contractual interest rate (percent)		6.08%	6.08%
Effective interest rate (percent)		5.06%	5.06%
Highway 94 Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 13,488	$ 13,488	13,732
Contractual interest rate (percent)		3.75%	3.75%
Effective interest rate (percent)		4.88%	4.88%
Pepsi Bottling Ventures Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 18,124	$ 18,124	18,218
Contractual interest rate (percent)		3.69%	3.69%
Effective interest rate (percent)		3.92%	3.92%
AIG Loan II | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 124,045	$ 124,045	124,606
Contractual interest rate (percent)		4.15%	4.15%
Effective interest rate (percent)		4.93%	4.93%
BOA Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 375,000	$ 375,000	375,000
Contractual interest rate (percent)		3.77%	3.77%
Effective interest rate (percent)		3.91%	3.91%
BOA/KeyBank Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 250,000	$ 250,000	250,000
Contractual interest rate (percent)		4.32%	4.32%
Effective interest rate (percent)		4.14%	4.14%
AIG Loan | Mortgages
Debt Instrument [Line Items]
Total Debt		$ 101,370	$ 101,370	101,884
Contractual interest rate (percent)		4.96%	4.96%
Effective interest rate (percent)		5.08%	5.08%
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt		$ 373,500	$ 373,500	373,500
Effective interest rate (percent)		1.81%	1.81%
Term of debt instrument		3 years
Extended term on debt		1 year
Revolving Credit Facility | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.45%
2023 Term Loan | Term Loans
Debt Instrument [Line Items]
Total Debt		$ 200,000	$ 200,000	200,000
Effective interest rate (percent)		1.73%	1.73%
Term of debt instrument	5 years		5 years
2023 Term Loan | Term Loans | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%
2024 Term Loan | Term Loans
Debt Instrument [Line Items]
Total Debt		$ 400,000	$ 400,000	400,000
Effective interest rate (percent)		1.72%	1.72%
Term of debt instrument	5 years		5 years
2024 Term Loan | Term Loans | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%
2025 Term Loan | Term Loans
Debt Instrument [Line Items]
Total Debt		$ 400,000	$ 400,000	400,000
Effective interest rate (percent)		1.82%	1.82%
Term of debt instrument	5 years		5 years
2025 Term Loan | Term Loans | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%
2026 Term Loan | Term Loans
Debt Instrument [Line Items]
Total Debt		$ 150,000	$ 150,000	$ 150,000
Effective interest rate (percent)		1.73%	1.73%
Term of debt instrument	7 years		7 years
2026 Term Loan | Term Loans | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%

Debt - Narrative (Details)

Debt - Narrative (Details)	Dec. 18, 2020USD ($)	Mar. 31, 2022USD ($)quarterproperty	Mar. 31, 2022USD ($)quarterproperty
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Minimum number of Pool Properties under credit agreement | property		15	15
Maximum aggregated pool value that may be contributed by a single Pool Property or tenant (percent)		15.00%	15.00%
Maximum of aggregate pool value that may be contributed by Pool Properties subject to ground leases (percent)		15.00%	15.00%
Maximum aggregate pool value that may be contributed by Pool Properties under development or assets under renovation (percent)		20.00%	20.00%
Minimum aggregate leasing percentage of all Pool Properties (percent)		90.00%	90.00%
Maximum unsecured leverage ratio (percent)		60.00%	60.00%
Minimum unsecured interest coverage ratio		2	2
Line of Credit | Line of Credit
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 1,900,000,000
Unsecured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 750,000,000
Extended term on debt	1 year
Increase limit on borrowing capacity	$ 600,000,000
Remaining borrowing capacity		$ 376,500,000	$ 376,500,000
Unsecured Debt | Revolving Credit Facility | Minimum | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			1.30%
Unsecured Debt | Revolving Credit Facility | Minimum | LIBOR | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			0.825%
Unsecured Debt | Revolving Credit Facility | Maximum | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			2.20%
Unsecured Debt | Revolving Credit Facility | Maximum | LIBOR | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			1.55%
Term Loans | 2023 Term Loan
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 200,000,000	$ 200,000,000	$ 200,000,000
Term of debt instrument	5 years		5 years
Term Loans | 2023 Term Loan | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Term of debt instrument			5 years
Term Loans | 2023 Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%
Term Loans | 2024 Term Loan
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 400,000,000
Term of debt instrument	5 years		5 years
Term Loans | 2024 Term Loan | LIBOR
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity		$ 400,000,000	$ 400,000,000
Interest rate spread on the variable rate debt (percent)		1.40%
Term Loans | 2024 Term Loan | LIBOR | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Term of debt instrument			5 years
Term Loans | 2025 Term Loan
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 400,000,000	$ 400,000,000	$ 400,000,000
Term of debt instrument	5 years		5 years
Term Loans | 2025 Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%
Term Loans | 2026 Term Loan
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 150,000,000	$ 150,000,000	$ 150,000,000
Term of debt instrument	7 years		7 years
Term Loans | 2026 Term Loan | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Term of debt instrument			7 years
Term Loans | 2026 Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)		1.40%
Term Loans | 2026 Term Loan | Minimum | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			1.25%
Term Loans | 2026 Term Loan | Minimum | LIBOR | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			1.90%
Term Loans | 2026 Term Loan | Maximum | LIBOR
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			2.15%
Term Loans | 2026 Term Loan | Maximum | LIBOR | External Credit Rating, Investment Grade
Debt Instrument [Line Items]
Interest rate spread on the variable rate debt (percent)			1.75%
Term Loans | Keybank Loans
Debt Instrument [Line Items]
Maximum consolidated leverage ratio (percent)		60.00%	60.00%
Maximum consolidated leverage ratio after material acquisition (percent)		65.00%	65.00%
Number of consecutive quarters subject to higher ratio | quarter		4
Minimum consolidated tangible net worth (percent)		75.00%	75.00%
Minimum consolidated tangible net worth		$ 2,000,000,000	$ 2,000,000,000
Tangible net worth, additional percentage of net future equity issuances (percent)		75.00%	75.00%
Tangible net worth, reduction for any payments used to redeem Company's or Borrower's stock (percent)		75.00%	75.00%
Minimum consolidated fixed charge coverage ratio		1.50	1.50
Maximum total secured debt ratio (percent)		40.00%	40.00%
Increase to maximum total secured debt ratio (percent)		5.00%	5.00%
Number of consecutive quarters subject to higher total secured debt ratio | quarter		4	4
Minimum unsecured interest coverage ratio		2	2
Maximum total secured recourse debt ratio (percent)		10.00%	10.00%
Aggregate maximum unhedged variable rate debt (percent)		30.00%	30.00%

Interest Rate Contracts - Summa

Interest Rate Contracts - Summary of Interest Rate Swaps (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative fair value, net	$ (4,900)	$ 25,100
LIBOR
Derivative [Line Items]
Effective interest rate (percent)	0.24%
Interest Rate Swap, Effective March 10, 2020 - $150,000 Notional Amount, Interest Rate 0.83%
Derivative [Line Items]
Interest Strike Rate	0.83%
Derivative fair value, net	$ 7,953	1,648
Current Notional Amounts	$ 150,000	150,000
Interest Rate Swap, Effective March 10, 2020 - $100,000 Notional Amount, Interest Rate 0.84%
Derivative [Line Items]
Interest Strike Rate	0.84%
Derivative fair value, net	$ 5,270	1,059
Current Notional Amounts	$ 100,000	100,000
Interest Rate Swap, Effective March 10, 2020 - $75,000 Notional Amount, Interest Rate 0.86%
Derivative [Line Items]
Interest Strike Rate	0.86%
Derivative fair value, net	$ 3,910	749
Current Notional Amounts	$ 75,000	75,000
Interest Rate Swap Effective July 1, 2020,$125,000 Notional Amount, Interest Rate 2.82%
Derivative [Line Items]
Interest Strike Rate	2.82%
Derivative fair value, net	$ (1,407)	(7,342)
Current Notional Amounts	$ 125,000	125,000
Interest Rate Swap Effective July 1, 2020, $100,000 Notional Amount, Interest Rate 2.82%
Derivative [Line Items]
Interest Strike Rate	2.82%
Derivative fair value, net	$ (1,160)	(5,909)
Current Notional Amounts	$ 100,000	100,000
Interest Rate Swap Effective July 1, 2020, $100,000 Notional Amount, Interest Rate 2.83%
Derivative [Line Items]
Interest Strike Rate	2.83%
Derivative fair value, net	$ (1,154)	(5,899)
Current Notional Amounts	$ 100,000	100,000
Interest Rate Swap Effective July 1, 2020, $100,000 Notional Amount, Interest Rate 2.84%
Derivative [Line Items]
Interest Strike Rate	2.84%
Derivative fair value, net	$ (1,205)	(5,958)
Current Notional Amounts	100,000	100,000
Interest Rate Swap
Derivative [Line Items]
Derivative fair value, net	12,207	(21,652)
Current Notional Amounts	$ 750,000	$ 750,000

Interest Rate Contracts - Impac

Interest Rate Contracts - Impact of Interest Rate Swap on Consolidated Statements of Operation (Details) - Interest Rate Swap - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized in AOCI on derivatives	$ (30,450)	$ (16,447)
Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense”	(3,409)	16,416
Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded	$ 21,666	$ 20,685

Interest Rate Contracts - Narra

Interest Rate Contracts - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount expected to be reclassified next 12 months	$ 1.3
Derivative fair value, net	$ (4.9)	$ 25.1

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Payables and Accruals [Abstract]
Prepaid tenant rent	$ 22,508	$ 26,477
Real estate taxes payable	11,473	14,751
Interest payable	10,816	9,683
Accrued tenant improvements	8,946	10,123	$ 11,303
Deferred compensation	8,731	10,119
Property operating expense payable	5,361	11,126
Other liabilities	35,834	26,842
Total	$ 103,669	$ 109,121

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Liability	$ (4,926)	$ (25,108)
Recurring Basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Corporate Owned Life Insurance Asset	6,664	6,875
Mutual Funds Asset	5,427	5,543
Recurring Basis | Quoted Prices in Active Markets for Identical Assets and Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Corporate Owned Life Insurance Asset	0	0
Mutual Funds Asset	5,427	5,543
Recurring Basis | Significant Other Observable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Corporate Owned Life Insurance Asset	6,664	6,875
Mutual Funds Asset	0	0
Recurring Basis | Significant Unobservable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Corporate Owned Life Insurance Asset	0	0
Mutual Funds Asset	0	0
Recurring Basis | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	17,133	3,456
Interest Rate Swap Liability	(4,926)	(25,108)
Recurring Basis | Interest Rate Swap | Quoted Prices in Active Markets for Identical Assets and Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	0	0
Interest Rate Swap Liability	0	0
Recurring Basis | Interest Rate Swap | Significant Other Observable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	17,133	3,456
Interest Rate Swap Liability	(4,926)	(25,108)
Recurring Basis | Interest Rate Swap | Significant Unobservable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	0	0
Interest Rate Swap Liability	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	3 Months Ended
	Mar. 31, 2022loan
Fair Value Disclosures [Abstract]
Number of mortgage loans (in loan)	9

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments at Fair Value (Details) - Mortgages - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	$ 959,518	$ 995,645
Fair Value | BOA Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	338,933	349,082
Fair Value | BOA/KeyBank Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	245,057	260,378
Fair Value | AIG Loan II | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	115,809	120,141
Fair Value | AIG Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	96,620	99,697
Fair Value | Midland Mortgage Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	94,412	95,720
Fair Value | Samsonite Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	18,965	19,366
Fair Value | HealthSpring Mortgage Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	19,281	19,639
Fair Value | Pepsi Bottling Ventures Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	17,657	18,262
Fair Value | Highway 94 Loan | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	12,784	13,360
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	1,015,816	1,018,015
Carrying Value | BOA Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	375,000	375,000
Carrying Value | BOA/KeyBank Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	250,000	250,000
Carrying Value | AIG Loan II
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	124,045	124,606
Carrying Value | AIG Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	101,370	101,884
Carrying Value | Midland Mortgage Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	95,420	95,792
Carrying Value | Samsonite Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	18,841	19,114
Carrying Value | HealthSpring Mortgage Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	19,528	19,669
Carrying Value | Pepsi Bottling Ventures Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	18,124	18,218
Carrying Value | Highway 94 Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of mortgage loans	$ 13,488	$ 13,732

Equity - Narrative (Details)

Equity - Narrative (Details)		Jul. 17, 2020USD ($)	Mar. 31, 2022USD ($)vote$ / sharesshares	Mar. 31, 2021USD ($)$ / sharesshares	Mar. 31, 2022USD ($)voteshares	Mar. 31, 2022USD ($)vote$ / sharesshares	Dec. 31, 2021USD ($)shares	Mar. 01, 2021shares	Dec. 31, 2020shares	Sep. 20, 2020USD ($)	Mar. 30, 2020shares	Apr. 30, 2019shares	Jun. 30, 2015shares
Class of Stock [Line Items]
Proceeds from sale of shares | $					$ 2,800,000,000
Common stock, number of shares outstanding (in shares)			324,715,745		324,715,745	324,715,745	324,638,112
Common stock issued | $	[1]		$ 325,000		$ 325,000	$ 325,000	$ 325,000
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Total compensation expense | $			$ 1,800,000	$ 1,700,000
Restricted Stock Units (RSUs) | Amended and Restated Plan
Class of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized			5,519,453		5,519,453	5,519,453					7,000,000
Restricted Stock Units (RSUs) | 2019 Restricted Stock Units
Class of Stock [Line Items]
Unrecognized cost | $			$ 11,100,000		$ 11,100,000	$ 11,100,000
Common Stock
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)			324,715,745	323,881,102	324,715,745	324,715,745	324,638,112		230,320,668
Minimum | Restricted Stock
Class of Stock [Line Items]
Unrecognized cost recognition period			2 years
Maximum | Restricted Stock
Class of Stock [Line Items]
Unrecognized cost recognition period			4 years
Share Redemption Program
Class of Stock [Line Items]
Share redemption program, settlement due, period			3 days
Minimum balance of common stock | $			$ 2,500		$ 2,500	$ 2,500
Minimum holding period for stock to be redeemed from stockholder by the Company			1 year
Share Redemption Program | Common Stock
Class of Stock [Line Items]
Stock redeemed during period (in shares)			0	772,265		28,304,928
Stock redeemed, value | $						$ 265,500,000
Weighted average price per share (in usd per share) | $ / shares			$ 0	$ 8.96		$ 9.38
Share Redemption Program | Maximum
Class of Stock [Line Items]
Maximum redemption percentage of weighted average shares outstanding			5.00%
Private Placement
Class of Stock [Line Items]
Stock issued (shares)													43,772,611
Authorized issuances under Company's follow-on offering that have been suspended | $										$ 2,000,000,000
Follow-on Offering
Class of Stock [Line Items]
Authorized issuances under Company's follow-on offering that have been suspended | $										2,200,000,000
Distribution Reinvestment Plan
Class of Stock [Line Items]
Authorized issuances under Company's follow-on offering that have been suspended | $		$ 100,000,000								$ 200,000,000
Sale of stock, offering termination, prior written notice period		10 days
Common stock issued | $			$ 341,100,000		$ 341,100,000	$ 341,100,000	$ 341,100,000
Class T
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			565,265		565,265	565,265	565,265
Class S
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			1,800		1,800	1,800	1,800
Class D
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			42,013		42,013	42,013	42,013
Class I
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			1,911,732		1,911,732	1,911,732	1,911,731
Class A
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			24,509,573		24,509,573	24,509,573	24,509,573
Class AA
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			47,592,118		47,592,118	47,592,118	47,592,118
Class AAA
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			926,936		926,936	926,936	926,936
Class E
Class of Stock [Line Items]
Number of votes per share | vote			1		1	1
Common stock, number of shares outstanding (in shares)			249,166,308		249,166,308	249,166,308	249,088,676
Class E | Private Placement
Class of Stock [Line Items]
Stock issued (shares)								93,457,668				174,981,547
[1]	See Note 8, Equity , for the number of shares outstanding of each class of common stock as of March 31, 2022.

Equity - Schedule of Stock by C

Equity - Schedule of Stock by Class (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	324,715,745	324,638,112
Class A
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	24,509,573	24,509,573
Class AA
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	47,592,118	47,592,118
Class AAA
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	926,936	926,936
Class D
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	42,013	42,013
Class E
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	249,166,308	249,088,676
Class I
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	1,911,732	1,911,731
Class S
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	1,800	1,800
Class T
Class of Stock [Line Items]
Common stock, number of shares outstanding (in shares)	565,265	565,265

Equity - DRP Offerings by Share

Equity - DRP Offerings by Share Class (Details) - Distribution Reinvestment Plan $ in Thousands	20 Months Ended
	Mar. 31, 2022USD ($)shares
Class of Stock [Line Items]
Amount | $	$ 341,064
Gross proceeds from issuance of common stock (in shares) | shares	35,519,781
Class A
Class of Stock [Line Items]
Amount | $	$ 9,687
Gross proceeds from issuance of common stock (in shares) | shares	1,052,170
Class AA
Class of Stock [Line Items]
Amount | $	$ 19,047
Gross proceeds from issuance of common stock (in shares) | shares	2,068,367
Class AAA
Class of Stock [Line Items]
Amount | $	$ 290
Gross proceeds from issuance of common stock (in shares) | shares	31,521
Class D
Class of Stock [Line Items]
Amount | $	$ 21
Gross proceeds from issuance of common stock (in shares) | shares	2,231
Class E
Class of Stock [Line Items]
Amount | $	$ 311,405
Gross proceeds from issuance of common stock (in shares) | shares	32,299,362
Class I
Class of Stock [Line Items]
Amount | $	$ 437
Gross proceeds from issuance of common stock (in shares) | shares	47,028
Class S
Class of Stock [Line Items]
Amount | $	$ 0
Gross proceeds from issuance of common stock (in shares) | shares	12
Class T
Class of Stock [Line Items]
Amount | $	$ 177
Gross proceeds from issuance of common stock (in shares) | shares	19,090

Equity - Schedule of Redemption

Equity - Schedule of Redemption Activity (Details) - Common Stock - Share Redemption Program - $ / shares	3 Months Ended		92 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022
Class of Stock [Line Items]
Shares of common stock redeemed (in shares)	0	772,265	28,304,928
Weighted average price per share (in usd per share)	$ 0	$ 8.96	$ 9.38

Equity - Issuance of Restricted

Equity - Issuance of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Number of Unvested Shares of RSU Awards
Beginning balance (in shares)	1,528,613	943,836
Forfeited (in shares)	(33,208)	(222,367)
Vested (in shares)	(128,235)	(812,111)
Ending balance (in shares)	1,367,170	1,528,613
Weighted-Average Grant Date Fair Value per Share
Granted (in usd per share)	$ 0	$ 8.97
Forfeited (in usd per share)	9.10	9.10
Vested (in usd per share)	$ 8.97	$ 9.24
Shares used to satisfy employee tax withholding requirements on vesting restricted stock (in shares)	50,587
2020 Restricted Stock Units
Number of Unvested Shares of RSU Awards
Granted (in shares)	0	1,619,255

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details)	3 Months Ended
	Mar. 31, 2022shares
Noncontrolling Interest [Line Items]
Percentage of noncontrolling interests based on weighted average shares outstanding (percent)	8.80%
Units issued related to property contributions (shares)	31,800,000
Units issued to unaffiliated third parties (shares)	200,000
Partnership unit exchange (in shares)	1
Griffin Capital Essential Asset Operating Partnership, L.P.
Noncontrolling Interest [Line Items]
Percentage of noncontrolling interests based on total shares (percent)	9.00%

Noncontrolling Interests - Acti

Noncontrolling Interests - Activity for Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Distributions to noncontrolling interest	$ (2,698)	$ (2,698)
Allocated net income	170	(5,393)
Allocated other comprehensive income	33,891	16,447
Non- controlling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	218,653	226,550	$ 226,550
Reclass of noncontrolling interest subject to redemption	99		(159)
Distributions to noncontrolling interest	(2,698)	(2,698)	(10,942)
Allocated distributions to noncontrolling interests subject to redemption	(4)		(18)
Allocated net income	19	(569)	66
Allocated other comprehensive income	2,979	$ 1,748	3,156
Ending balance	$ 219,048		$ 218,653

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Incurred fees	$ 5	$ 5
Receivable	276		$ 271
Incurred costs	3,301	3,268
Payable	2,532		2,418
Reimbursable Expense Allocation | Griffin Capital Corporation
Related Party Transaction [Line Items]
Incurred fees	0	0
Receivable	11		11
Payroll/Expense Allocation | Griffin Capital Corporation
Related Party Transaction [Line Items]
Incurred fees	5	5
Receivable	265		260
Costs advanced by the advisor
Related Party Transaction [Line Items]
Incurred costs	649	501
Payable	873		929
Administrative reimbursement
Related Party Transaction [Line Items]
Incurred costs	510	625
Payable	648		461
Earn-out
Related Party Transaction [Line Items]
Incurred costs	0	0
Payable	180		197
Stockholder Servicing Fee
Related Party Transaction [Line Items]
Incurred costs	0	0
Payable	92		92
Distributions
Related Party Transaction [Line Items]
Incurred costs	2,142	$ 2,142
Payable	$ 739		$ 739

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Thousands	Mar. 25, 2022USD ($)
Related Party Transaction [Line Items]
Operating sublease monthly base rent	$ 50
Sublease rent annual escalations percentage	3.00%

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)renewallease	Mar. 31, 2021USD ($)	Mar. 25, 2022option	Dec. 31, 2021USD ($)
Lessee, Lease, Description [Line Items]
Lease income	$ 97,200	$ 83,900
Number of ground leases classified as operating | lease	6
Number of ground leases classified as financing | lease	2
Options to renew | renewal	0
Weighted-average remaining lease term in years.	72 years
Lessor, operating sublease, remaining lease term			3 years
Lessor, operating lease, renewal term			5 years
Lessor, operating lease, number of option to renew | option			1
Right of use asset	$ 40,362			$ 39,482
Lease liability	52,088			$ 50,896
Operating lease costs	1,100	900
Operating lease payments	600	$ 400
Griffin Capital Corporation
Lessee, Lease, Description [Line Items]
Right of use asset	1,200
Lease liability	$ 1,200
Chicago Illinois Office
Lessee, Lease, Description [Line Items]
Options to renew | renewal	0
Weighted-average remaining lease term in years.	3 years

Leases - Future Minimum Base Re

Leases - Future Minimum Base Rents to be Received (Details) $ in Thousands	Mar. 31, 2022USD ($)
Leases [Abstract]
Remaining 2022	$ 283,940
2023	372,469
2024	332,248
2025	289,826
2026	264,937
Thereafter	1,016,424
Total	$ 2,559,844

Leases - Cash paid for measurem

Leases - Cash paid for measurement of lease liabilities (Details)	Mar. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term in years.	72 years
Weighted-average discount rate (percent)	4.80%

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturity (Details) $ in Thousands	Mar. 31, 2022USD ($)
Operating
Remaining 2022	$ 1,721
2023	2,366
2024	2,122
2025	1,783
2026	1,716
2027	1,761
Thereafter	282,698
Total undiscounted lease payments	294,167
Less: imputed interest	(245,546)
Total lease liabilities	48,621
Financing
Remaining 2022	344
2023	355
2024	360
2025	365
2026	375
2027	381
Thereafter	3,458
Total undiscounted lease payments	5,638
Less: imputed interest	(2,171)
Total lease liabilities	$ 3,467

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2022USD ($)
Capital Expenditures, Leasing Commissions and Tenant Improvement Commitment
Other Commitments [Line Items]
Other commitment	$ 23.8

Declaration of Distributions (D

Declaration of Distributions (Details) - $ / shares	Mar. 29, 2022	Nov. 02, 2021	Mar. 31, 2022	Mar. 31, 2021
Declaration of Distributions [Abstract]
Cash distributions declared per common share per day (in usd per share)	$ 0.000958904	$ 0.000958904
Dividends per share declared (in usd per share)	$ 0.35	$ 0.35	$ 0.09	$ 0.09

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jun. 28, 2023	Mar. 28, 2023	Dec. 28, 2022	Sep. 28, 2022	Apr. 28, 2022	Apr. 26, 2022	Mar. 29, 2022	Nov. 02, 2021	Jun. 30, 2023	Mar. 31, 2022	Mar. 31, 2021
Subsequent Event [Line Items]
Cash distributions declared per common share per day (in usd per share)							$ 0.000958904	$ 0.000958904
Dividends per share declared (in usd per share)							$ 0.35	$ 0.35		$ 0.09	$ 0.09
Forecast | Revolving Credit Facility
Subsequent Event [Line Items]
Extended term on debt	3 months	3 months	3 months	3 months					1 year
Subsequent Event
Subsequent Event [Line Items]
Cash distributions declared per common share per day (in usd per share)						$ 0.000958904
Dividends per share declared (in usd per share)						$ 0.35
Extended revolving loan commitments, percentage					0.05%