Document and Entity Information
Document and Entity Information - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Mar. 15, 2019 | |
Document Information [Line Items] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2018 | |
Document Fiscal Period Focus | FY | |
Entity Registrant Name | BLACKSTONE REAL ESTATE INCOME TRUST, INC. | |
Entity Central Index Key | 0001662972 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | No | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Entity Public Float | $ 0 | |
Class S Shares [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 318,793,150 | |
Class I Shares [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 131,854,184 | |
Class D Shares [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 38,057,888 | |
Class T Shares [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 26,710,356 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Investments in real estate, net | $ 10,259,687 | $ 3,406,555 |
Investments in real estate-related securities | 2,259,913 | 915,742 |
Cash and cash equivalents | 68,089 | 31,166 |
Restricted cash | 238,524 | 126,563 |
Other assets | 410,945 | 145,282 |
Total assets | 13,237,158 | 4,625,308 |
Liabilities and Equity | ||
Mortgage notes, term loans, and revolving credit facilities, net | 6,833,269 | 2,111,291 |
Repurchase agreements | 1,713,723 | 682,848 |
Affiliate line of credit | 5,374 | |
Due to affiliates | 301,581 | 133,071 |
Accounts payable, accrued expenses, and other liabilities | 464,398 | 182,835 |
Total liabilities | 9,312,971 | 3,115,419 |
Commitments and contingencies | ||
Redeemable non-controlling interest | 9,233 | 250 |
Equity | ||
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; no shares issued and outstanding as of December 31, 2018 and 2017 | ||
Additional paid-in capital | 4,327,444 | 1,616,720 |
Accumulated deficit and cumulative distributions | (587,548) | (132,633) |
Total stockholders' equity | 3,744,286 | 1,485,791 |
Non-controlling interests attributable to third party joint ventures | 75,592 | 23,848 |
Non-controlling interests attributable to BREIT OP unitholders | 95,076 | |
Total equity | 3,914,954 | 1,509,639 |
Total liabilities and equity | 13,237,158 | 4,625,308 |
Class S Shares [Member] | ||
Equity | ||
Common stock value | 2,770 | 1,301 |
Class T Shares [Member] | ||
Equity | ||
Common stock value | 233 | 56 |
Class D Shares [Member] | ||
Equity | ||
Common stock value | 304 | 40 |
Class I Shares [Member] | ||
Equity | ||
Common stock value | $ 1,083 | $ 307 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Preferred Stock, Par Value | $ 0.01 | $ 0.01 |
Preferred stock, authorized shares | 100,000,000 | 100,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, shares outstanding | 438,938,000 | 170,384,000 |
Class S Shares [Member] | ||
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 276,989,019 | 130,085,145 |
Common stock, shares outstanding | 276,989,019 | 130,085,145 |
Class T Shares [Member] | ||
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 23,313,429 | 5,624,614 |
Common stock, shares outstanding | 23,313,429 | 5,624,614 |
Class D Shares [Member] | ||
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 30,375,353 | 3,955,114 |
Common stock, shares outstanding | 30,375,353 | 3,955,114 |
Class I Shares [Member] | ||
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 108,261,331 | 30,719,160 |
Common stock, shares outstanding | 108,261,331 | 30,719,160 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 10 Months Ended | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues | |||
Total revenues | $ 723,258 | $ 157,932 | |
Expenses | |||
Operating expenses | 340,341 | 71,532 | |
General and administrative | $ 115 | 10,982 | 7,692 |
Management fee | 0 | 42,659 | 8,867 |
Performance participation allocation | 0 | 37,484 | 16,974 |
Depreciation and amortization | 0 | 406,295 | 121,793 |
Total expenses | 115 | 837,761 | 226,858 |
Other income (expense) | |||
Income from real estate-related securities | 55,323 | 17,749 | |
Interest income | 410 | 454 | |
Interest expense | (233,184) | (36,884) | |
Other income (expense) | 489 | 57 | |
Total other income (expense) | (176,962) | (18,624) | |
Net loss | (115) | (291,465) | (87,550) |
Net loss attributable to non-controlling interests in third party joint ventures | 6,188 | 1,292 | |
Net loss attributable to non-controlling interests in BREIT OP | 4,221 | ||
Net loss attributable to BREIT stockholders | $ (115) | $ (281,056) | $ (86,258) |
Net loss per share of common stock — basic and diluted | $ (5.74) | $ (0.91) | $ (0.90) |
Weighted-average shares of common stock outstanding, basic and diluted | 20,000 | 309,686,177 | 95,586,290 |
Rental [Member] | |||
Revenues | |||
Total revenues | $ 494,519 | $ 110,429 | |
Expenses | |||
Operating expenses | 243,093 | 51,115 | |
Tenant Reimbursement Income [Member] | |||
Revenues | |||
Total revenues | 64,145 | 10,952 | |
Hotel [Member] | |||
Revenues | |||
Total revenues | 138,433 | 29,916 | |
Expenses | |||
Operating expenses | 97,248 | 20,417 | |
Other Revenue [Member] | |||
Revenues | |||
Total revenues | $ 26,161 | $ 6,635 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Thousands | Total | Common Stock [Member]Class S Shares [Member] | Common Stock [Member]Class T Shares [Member] | Common Stock [Member]Class D Shares [Member] | Common Stock [Member]Class I Shares [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit and Cumulative Distributions [Member] | Total Stockholders' Equity [Member] | Non-controlling Interests [Member]Third Party Joint Ventures [Member] | Non-controlling Interests [Member]BREIT OP Unitholders [Member] |
Beginning Balance at Mar. 02, 2016 | $ 200 | $ 200 | $ 200 | |||||||
Net loss | (115) | $ (115) | (115) | |||||||
Ending Balance at Dec. 31, 2016 | 85 | 200 | (115) | 85 | ||||||
Common stock issued | 1,725,955 | $ 1,283 | $ 56 | $ 40 | $ 302 | 1,724,274 | 1,725,955 | |||
Offering costs | (132,691) | (132,691) | (132,691) | |||||||
Distribution reinvestment | 25,527 | 18 | 6 | 25,503 | 25,527 | |||||
Common stock repurchased | (669) | (1) | (668) | (669) | ||||||
Amortization of restricted stock grants | 102 | 102 | 102 | |||||||
Net loss | (87,550) | (86,258) | (86,258) | $ (1,292) | ||||||
Distributions declared on common stock | (46,260) | (46,260) | (46,260) | |||||||
Contributions from non-controlling interests | 25,336 | 25,336 | ||||||||
Distributions to non-controlling interests | (196) | (196) | ||||||||
Ending Balance at Dec. 31, 2017 | 1,509,639 | 1,301 | 56 | 40 | 307 | 1,616,720 | (132,633) | 1,485,791 | 23,848 | |
Common stock issued | 2,848,663 | 1,428 | 174 | 261 | 778 | 2,846,022 | 2,848,663 | |||
Offering costs | (178,833) | (178,833) | (178,833) | |||||||
Distribution reinvestment | 101,985 | 63 | 4 | 4 | 24 | 101,890 | 101,985 | |||
Common stock repurchased | (56,427) | (22) | (1) | (1) | (28) | (56,375) | (56,427) | |||
Amortization of restricted stock grants | 214 | 2 | 212 | 214 | ||||||
Net loss | (291,465) | |||||||||
Net loss ($1,035 allocated to redeemable non-controlling interest) | (290,430) | (281,056) | (281,056) | (6,188) | $ (3,186) | |||||
Distributions declared on common stock | (173,859) | (173,859) | (173,859) | |||||||
Contributions from non-controlling interests | 147,593 | 47,615 | 99,978 | |||||||
Acquired non-controlling interests | 12,802 | 12,802 | ||||||||
Distributions to non-controlling interests | (4,201) | (2,485) | (1,716) | |||||||
Allocation to redeemable non-controlling interest | (2,192) | (2,192) | (2,192) | |||||||
Ending Balance at Dec. 31, 2018 | $ 3,914,954 | $ 2,770 | $ 233 | $ 304 | $ 1,083 | $ 4,327,444 | $ (587,548) | $ 3,744,286 | $ 75,592 | $ 95,076 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Stockholders Equity [Abstract] | ||
Distributions declared on common stock per share | $ 0.6286 | $ 0.4782 |
Net loss allocated to redeemable non-controlling interest | $ 1,035 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 10 Months Ended | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net loss | $ (115) | $ (291,465) | $ (87,550) |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||
Management fee | 0 | 42,659 | 8,867 |
Performance participation allocation | 0 | 37,484 | 16,974 |
Performance participation allocation | 16,974 | ||
Depreciation and amortization | 0 | 406,295 | 121,793 |
Unrealized loss/(gain) on changes in fair value of financial instruments | 0 | 24,746 | (2,366) |
Other items | 0 | 5,495 | 228 |
Change in assets and liabilities: | |||
(Increase) / decrease in other assets | 0 | (67,540) | (19,002) |
Increase / (decrease) in due to affiliates | 86 | 2,099 | 3,833 |
Increase / (decrease) in accounts payable, accrued expenses, and other liabilities | 29 | 92,909 | 29,508 |
Net cash provided by operating activities | 0 | 252,682 | 72,285 |
Cash flows from investing activities: | |||
Acquisitions of real estate | 0 | (7,005,983) | (3,393,674) |
Capital improvements to real estate | 0 | (102,273) | (9,953) |
Pre-acquisition costs | 0 | (8,331) | (5,166) |
Purchase of real estate-related securities | 0 | (1,561,772) | (930,147) |
Proceeds from sale or settlement of real estate-related securities | 0 | 193,932 | 16,596 |
Net cash used in investing activities | 0 | (8,484,427) | (4,322,344) |
Cash flows from financing activities: | |||
Proceeds from issuance of common stock | 0 | 2,701,651 | 1,718,992 |
Offering costs paid | 0 | (44,066) | (22,293) |
Subscriptions received in advance | 0 | 166,542 | 107,576 |
Repurchase of common stock | 0 | (49,466) | (669) |
Redemption of redeemable non-controlling interest | 0 | (8,400) | 0 |
Borrowings from mortgage notes, term loans, and revolving credit facilities | 0 | 7,318,059 | 2,174,030 |
Repayments from mortgage notes, term loans, and revolving credit facilities | 0 | (2,767,093) | (247,570) |
Borrowings under repurchase agreements | 0 | 1,156,189 | 695,419 |
Settlement of repurchase agreements | 0 | (125,314) | (12,571) |
Borrowings from affiliate line of credit | 0 | 1,239,400 | 1,089,350 |
Repayments on affiliate line of credit | 0 | (1,244,650) | (1,084,100) |
Payment of deferred financing costs | 0 | (46,634) | (22,949) |
Contributions from non-controlling interests | 0 | 147,593 | 25,586 |
Distributions to non-controlling interests | 0 | (4,413) | (196) |
Distributions | 0 | (58,769) | (13,017) |
Net cash provided by financing activities | 0 | 8,380,629 | 4,407,588 |
Net change in cash and cash equivalents and restricted cash | 0 | 148,884 | 157,529 |
Cash and cash equivalents and restricted cash, beginning of period | 200 | 157,729 | 200 |
Cash and cash equivalents and restricted cash, end of period | 200 | 306,613 | 157,729 |
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets: | |||
Cash and cash equivalents | 200 | 68,089 | 31,166 |
Restricted cash | 0 | 238,524 | 126,563 |
Cash and cash equivalents and restricted cash, end of period | 200 | 306,613 | 157,729 |
Supplemental disclosures: | |||
Interest paid | 0 | 208,042 | 27,073 |
Non-cash investing and financing activities: | |||
Assumption of mortgage notes in conjunction with acquisitions of real estate | 0 | 208,480 | 199,365 |
Assumption of other liabilities in conjunction with acquisitions of real estate | 0 | 66,525 | 23,008 |
Acquired non-controlling interests | 0 | 12,802 | 0 |
Accrued capital expenditures and acquisition related costs | 0 | 2,010 | 687 |
Accrued pre-acquisition costs | 0 | 442 | 1,422 |
Accrued distributions | 0 | 13,644 | 7,716 |
Accrued stockholder servicing fee due to affiliate | 0 | 136,420 | 102,076 |
Accrued offering costs due to affiliate | 0 | 8,322 | |
Redeemable non-controlling interest issued as settlement of performance participation allocation | 0 | 16,974 | 0 |
Allocation to redeemable non-controlling interest | 0 | 2,192 | 0 |
Distribution reinvestment | 0 | 101,985 | 25,527 |
Accrued common stock repurchases | $ 0 | $ 6,961 | $ 0 |
Organization and Business Purpo
Organization and Business Purpose | 12 Months Ended |
Dec. 31, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization and Business Purpose | 1. Organization and Business Purpose Blackstone Real Estate Income Trust, Inc. (“BREIT” or the “Company”) was formed on November 16, 2015 as a Maryland corporation and qualified as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with the taxable year ended December 31, 2017. The Company invests primarily in stabilized income-oriented commercial real estate in the United States and to a lesser extent, in Real Estate-Related Securities. The Company is the sole general partner of BREIT Operating Partnership, L.P., a Delaware limited partnership (“BREIT OP”). BREIT Special Limited Partner L.P. (the “Special Limited Partner”), a wholly-owned subsidiary of The Blackstone Group L.P. (together with its affiliates, “Blackstone”), owns a special limited partner interest in BREIT OP. Substantially all of the Company’s business is conducted through BREIT OP. The Company and BREIT OP are externally managed by BX REIT Advisors L.L.C. (the “Adviser”), an affiliate of Blackstone. The Company had registered with the Securities and Exchange Commission (the “SEC”) an offering of up to $5.0 billion in shares of common stock, consisting of up to $4.0 billion in shares in its primary offering and up to $1.0 billion in shares pursuant to its distribution reinvestment plan (the “Initial Offering”). The Company accepted aggregate gross offering proceeds of $4.9 billion during the period January 1, 2017 to January 1, 2019 and ceased offering shares of common stock under the Initial Offering on January 1, 2019. The Company has registered with the SEC a follow-on offering of up to $12.0 billion in shares of common stock, consisting of up to $10.0 billion in shares in its primary offering and up to $2.0 billion in shares pursuant to its distribution reinvestment plan, which the Company began using to offer shares of common stock in January 2019 (the “Current Offering” and with the Initial Offering, the “Offering”). The Company intends to sell any combination of four classes of shares of its common stock, with a dollar value up to the maximum aggregate amount of the Current Offering. The share classes have different upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees. The Company intends to continue selling shares on a monthly basis. As of December 31, 2018, the Company owned 58 investments in real estate and had 102 positions in Real Estate-Related Securities. The Company currently operates in five reportable segments: Multifamily, Industrial, Hotel, and Retail Properties, and Real Estate-Related Securities. Multifamily includes various forms of rental housing including apartments, student housing and manufactured housing. Financial results by segment are reported in Note 14 — Segment Reporting. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, the subsidiaries and joint ventures in which it has a controlling interest. For consolidated joint ventures, the non-controlling partner’s share of the assets, liabilities and operations of the joint ventures is included in non-controlling interests as equity of the Company. The non-controlling partner’s interest is generally computed as the joint venture partner’s ownership percentage. All intercompany balances and transactions have been eliminated in consolidation. The Company consolidates partially owned entities, in which it has a controlling financial interest. In determining whether the Company has a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, the Company considers whether the entity is a variable interest entity (“VIE”) and whether it is the primary beneficiary. The Company is the primary beneficiary of a VIE when it has (i) the power to direct the most significant activities impacting the economic performance of the VIE and (ii) the obligation to absorb losses or receive benefits significant to the VIE. BREIT OP and each of the Company’s joint ventures are considered to be a VIE. The Company consolidates these entities because it has the ability to direct the most significant activities of the entities such as purchases, dispositions, financings, budgets, and overall operating plans. As of December 31, 2018, the total assets and liabilities of the Company’s consolidated VIEs, excluding BREIT OP, were $2.8 billion and $1.9 billion, respectively, compared to $947.9 million and $645.5 million as of December 31, 2017. Such amounts are included on the Company’s Consolidated Balance Sheets. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. Investments in Real Estate In accordance with the guidance for business combinations, the Company determines whether the acquisition of a property qualifies as a business combination, which requires that the assets acquired and liabilities assumed constitute a business. If the property acquired does not constitute a business, the Company accounts for the transaction as an asset acquisition. The guidance for business combinations states that when substantially all of the fair value of the gross assets to be acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the asset or set of assets is not a business. All property acquisitions to date have been accounted for as asset acquisitions. Whether the acquisition of a property acquired is considered a business combination or asset acquisition, the Company recognizes the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquired entity. In addition, for transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company expenses acquisition-related costs associated with business combinations as they are incurred. The Company capitalizes acquisition-related costs associated with asset acquisitions. Upon acquisition of a property, the Company assesses the fair value of acquired tangible and intangible assets (including land, buildings, tenant improvements, “above-market” and “below-market” leases, acquired in-place leases, other identified intangible assets and assumed liabilities) and allocates the purchase price to the acquired assets and assumed liabilities. The Company assesses and considers fair value based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as other available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company also considers an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants’ credit quality and expectations of lease renewals. Based on its acquisitions to date, the Company’s allocation to customer relationship intangible assets has not been material. The Company records acquired above-market and below-market leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be paid pursuant to each in-place lease and (2) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases. Other intangible assets acquired include amounts for in-place lease values that are based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. Intangible assets and intangible liabilities are recorded as a component of Other Assets and Accounts Payable, Accrued Expenses, and Other Liabilities, respectively, on the Company’s Consolidated Balance Sheets. The amortization of acquired above-market and below-market leases is recorded as an adjustment to Rental Revenue on the Company’s Consolidated Statements of Operations. The amortization of in-place leases is recorded as an adjustment to Depreciation and Amortization Expense on the Company’s Consolidated Statements of Operations. The amortization of below-market and pre-paid ground leases are recorded as an adjustment to Rental Property Operating or Hotel Operating Expenses, as applicable, on the Company’s Consolidated Statements of Operations. The cost of buildings and improvements includes the purchase price of the Company’s properties and any acquisition-related costs, along with any subsequent improvements to such properties. The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 40 years Building- and land improvements 10 years Furniture, fixtures and equipment 1 - 7 years Lease intangibles Over lease term Significant improvements to properties are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period. Repairs and maintenance are expensed to operations as incurred and are included in Rental Property Operating and Hotel Operating Expenses on the Company’s Consolidated Statements of Operations. The Company’s management reviews its real estate properties for impairment each quarter or when there is an event or change in circumstances that indicates an impaired value. If the carrying amount of the real estate investment is no longer recoverable and exceeds the fair value of such investment, an impairment loss is recognized. The impairment loss is recognized based on the excess of the carrying amount of the asset over its fair value. The evaluation of anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Since cash flows on real estate properties considered to be “long-lived assets to be held and used” are considered on an undiscounted basis to determine whether an asset has been impaired, the Company’s strategy of holding properties over the long term directly decreases the likelihood of recording an impairment loss. If the Company’s strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material to the Company’s results. If the Company determines that an impairment has occurred, the affected assets must be reduced to their fair value, less cost to sell. During the periods presented, no such impairment occurred. Investments in Real Estate-Related Securities The Company has elected to classify its investment in Real Estate-Related Securities as trading securities and carry such investments at estimated fair value. As such, the resulting gains and losses are recorded as a component of Income from Real Estate-Related Securities on the Company’s Consolidated Statements of Operations. Cash and Cash Equivalents Cash and cash equivalents represent cash held in banks, cash on hand, and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk. Restricted Cash As of December 31, 2018 and December 31, 2017, Deferred Charges The Company’s deferred charges include financing and leasing costs. Deferred financing costs include legal, structuring, and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s mortgage notes and term loans are recorded as an offset to the related liability and amortized over the term of the applicable financing instruments. Deferred financing costs related to the Company’s revolving credit facilities and affiliate line of credit are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the term of the applicable financing agreements. Deferred leasing costs incurred in connection with new leases, which consist primarily of brokerage and legal fees, are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the life of the related lease. Revenue Recognition The Company’s sources of revenue and the related revenue recognition policies are as follows: Rental revenue — primarily consists of base rent arising from tenant leases at the Company’s industrial, multifamily, and retail properties. Rental revenue is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions. The Company begins to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased space. Tenant reimbursement income — primarily consists of amounts due from tenants for costs related to common area maintenance, real estate taxes, and other recoverable costs included in lease agreements. The Company recognizes the reimbursement of such costs incurred as tenant reimbursement income. Hotel revenue — consists of income from the Company’s hotel properties. Hotel revenue consists primarily of room revenue and food and beverage revenue. Room revenue is recognized when the related room is occupied and other hotel revenue is recognized when the service is rendered. Organization and Offering Costs Organization costs are expensed as incurred and recorded as a component of General and Administrative Expense on the Company’s Consolidated Statements of Operations and offering costs are charged to equity as such amounts are incurred. The Adviser agreed to advance $10.2 million of certain organization and offering costs on behalf of the Company (including legal, marketing and fulfillment, regulatory, due diligence, administrative, accounting, tax, transfer agent and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through December 31, 2017. Such costs are being reimbursed to the Adviser pro rata over 60 months beginning January 1, 2018. For the year ended December 31, 2018, the Company reimbursed $2.0 million to the Adviser for such costs. Blackstone Advisory Partners L.P. (the “Dealer Manager”), a registered broker-dealer affiliated with the Adviser, serves as the dealer manager for the Offering. The Dealer Manager is entitled to receive selling commissions and dealer manager fees based on the transaction price of each applicable class of shares sold in the Offering. The Dealer Manager is also entitled to receive a stockholder servicing fee of 0.85%, 0.85% and 0.25% per annum of the aggregate net asset value (“NAV”) of the Company’s outstanding Class S shares, Class T shares, and Class D shares, respectively. There is no stockholder servicing fee with respect to Class I shares. The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2018: Class S Shares Class T Shares Class D Shares Class I Shares Selling commissions and dealer manager fees (% of transaction price) up to 3.5% up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% 0.85% 0.25% — For Class S shares sold in the primary offering, investors will pay upfront selling commissions of up to 3.5% of the transaction price. For Class T shares sold in the primary offering, investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction price. For Class D shares sold in the primary offering, investors will pay upfront selling commissions of up to 1.5% of the transaction price The Dealer Manager is entitled to receive stockholder servicing fees of 0.85% per annum of the aggregate NAV for Class S shares and Class T shares. For Class T shares such stockholder servicing fee includes, an advisor stockholder servicing fee of 0.65% per annum, and a dealer stockholder servicing fee of 0.20% per annum, of the aggregate NAV for the Class T shares, however, with respect to Class T shares sold through certain participating broker-dealers, the advisor stockholder servicing fee and the dealer stockholder servicing fee may be other amounts, provided that the sum of such fees will always equal 0.85% per annum of the NAV of such shares. For Class D shares, a stockholder servicing fee equal to 0.25% per annum of the aggregate NAV for the Class D shares. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fees and all or a portion of the stockholder servicing fees received by the Dealer Manager to such selected dealers. Through December 31, 2018, the Dealer Manager had not retained any upfront selling commissions, dealer manager, or stockholder servicing fees. Income Taxes The Company qualified to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2017. The Company generally will not be subject to federal corporate income tax to the extent it distributes 90% of its taxable income to its stockholders. REITs are subject to a number of other organization and operational requirements. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. The Company leases its hotel investments to wholly-owned taxable REIT subsidiaries (“TRSs”). The TRSs are subject to taxation at the federal, state and local levels, as applicable. Revenues related to the hotels’ operations such as room revenue, food and beverage revenue and other revenue are recorded in the TRS along with corresponding expenses. The Company accounts for applicable income taxes by utilizing the asset and liability method. As such, the Company records deferred tax assets and liabilities for the future tax consequences resulting from the difference between the carrying value of existing assets and liabilities and their respective tax basis. A valuation allowance for deferred tax assets is provided if the Company believes all or some portion of the deferred tax asset may not be realized. During the years ended December 31, 2018 and 2017, the Company recorded a tax benefit of $0.6 million and $0.3 million, respectively, within Other Income on the Company’s Consolidated Statements of Operations. As of December 31, 2018 and 2017, the Company recorded a deferred tax asset of $1.8 million and $0.3 million, respectively, due to its hotel investments within Other Assets on the Company’s Consolidated Balance Sheets. Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Additionally, there is a hierarchal framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and the state of the marketplace, including the existence and transparency of transactions between market participants. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. As of December 31, 2018 and 2017, the Company’s $2.3 billion and $0.9 billion, respectively, of investments in Real Estate-Related Securities were classified as Level 2. Valuation The Company’s investments in Real Estate-Related Securities are reported at fair value. As of December 31, 2018 and 2017 the Company’s investments in Real Estate-Related Securities consisted of commercial mortgage-backed securities (“CMBS”), which are mortgage-related fixed income securities and corporate debt of real estate-related companies (together with CMBS, “Real Estate-Related Securities”). The Company generally determines the fair value of its Real Estate-Related Securities by utilizing third-party pricing service providers and broker-dealer quotations on the basis of last available bid price. In determining the fair value of a particular investment, pricing service providers may use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models to determine the reported price. The pricing service providers’ internal models for securities such as Real Estate-Related Securities generally consider the attributes applicable to a particular class of the security (e.g., credit rating, seniority), current market data, and estimated cash flows for each class and incorporate deal collateral performance such as prepayment speeds and default rates, as available. As of December 31, 2018, the fair value of the Company’s mortgage notes, term loans, and revolving credit facilities, repurchase agreements, and affiliate line of credit were approximately $6.9 million below carrying value. As of December 31, 2017, the fair value of the Company’s mortgage notes, term loans, and revolving credit facilities, repurchase agreements, and affiliate line of credit approximated their carrying value. Fair value of the Company’s indebtedness is estimated by modeling the cash flows required by the Company’s debt agreements and discounting them back to the present value using the appropriate discount rate. Additionally, the Company considers current market rates and conditions by evaluating similar borrowing agreements with comparable loan-to-value ratios and credit profiles. The inputs used in determining the fair value of the Company’s indebtedness are considered Level 3. Earnings Per Share Basic net loss per share of common stock is determined by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. All classes of common stock are allocated net income/(loss) at the same rate per share and receive the same gross distribution per share. The restricted stock grants of Class I shares held by our directors are considered to be participating securities because they contain non-forfeitable rights to distributions. The impact of these restricted stock grants on basic and diluted earnings per common share (“EPS”) has been calculated using the two-class method whereby earnings are allocated to the restricted stock grants based on dividends declared and the restricted stocks’ participation rights in undistributed earnings. As of December 31, 2018 and 2017, the effects of the two-class method on basic and diluted EPS were not material to the Company’s consolidated financial statements. Recent Accounting Pronouncements In In February 2016, the FASB issued ASU 2016-02, “Leases.” This new guidance, along with subsequent ASUs, was effective January 1, 2019 and requires lessees to record a lease liability and a right-of-use (ROU) asset. A lessee may make an accounting policy election for leases with a term 12 months or less to not recognize a lease liability and corresponding ROU asset. Lessor accounting remains predominately unchanged. Certain of the Company’s investments in real estate are subject to ground leases, for which a lease liability and ROU asset will be recorded. The lease liability and ROU asset are initially measured at the present value of the future minimum lease payments. The Company is currently finalizing its discount rate, which is primarily based on the Company’s incremental borrowing rate and is a key component to determining the present value of the lease liability and corresponding ROU asset. The ROU assets and lease liabilities are provisional and still being evaluated by management. Based on management’s evaluation to date, the Company expects to recognize a lease liability of approximately $25.0 million to $39.0 million Additionally, the guidance allows lessors to make an accounting policy election, by class of underlying asset, to not separate non-lease components from lease components if certain requirements are met. The guidance also provides an optional transition method which would allow entities to apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to retained earnings, if necessary, and provides a package of practical expedients whereby companies are not required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification (operating vs. capital/financing leases) for any expired or existing leases and (iii) initial direct costs for any existing leases. Further, the guidance requires (i) lease-related revenues to be presented in a single line item rather than the current presentation which separates them between “rental income” and “tenant reimbursement income” on the consolidated statements of operations and (ii) bad debt expense to be presented as an adjustment to revenue rather than the current presentation within “operating expenses” on the consolidated statements of operations. For leases where the Company is the lessor, the accounting for lease components is largely unchanged from existing GAAP and the Company has elected the practical expedient to not separate non-lease components from lease components. Only incremental direct leasing costs may be capitalized under the new guidance, which will not have a material effect on the Company’s consolidated financial statements upon adoption. The Company adopted this new guidance on January 1, 2019, and elected the practical expedients. The Company expects to present income related to leases as a single line item, net of bad debt expense, on the consolidated statements of operations beginning in 2019. The guidance regarding capitalization of leasing costs did not have any effect on the Company’s consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” or ASU 2018-07. ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The guidance is intended to align the accounting for such payments to nonemployees with the existing requirements for share-based payments granted to employees. We early adopted ASU 2018-07 in the fourth quarter of 2018 and it did not have an initial material impact on our consolidated financial statements as we first issued incentive compensation awards to certain employees of the portfolio company service providers during the fourth quarter of 2018. |
Investments in Real Estate
Investments in Real Estate | 12 Months Ended |
Dec. 31, 2018 | |
Real Estate [Abstract] | |
Investments in Real Estate | 3. Investments in Real Estate Investments in real estate, net consisted of the following ($ in thousands): December 31, 2018 December 31, 2017 Building and building improvements $ 8,389,864 $ 2,815,348 Land and land improvements 1,961,977 574,253 Furniture, fixtures and equipment 182,418 64,080 Total 10,534,259 3,453,681 Accumulated depreciation (274,572 ) (47,126 ) Investments in real estate, net $ 10,259,687 $ 3,406,555 During the year ended December 31, 2018, the Company acquired interests in 32 real estate investments, which were comprised of 270 industrial, 73 multifamily, 15 hotel, and one retail property. The following table provides further details of the properties acquired during the year ended December 31, 2018 ($ in thousands): Investment Ownership Interest (1) Number of Properties Location Segment Acquisition Date Purchase Price (2) Aston Multifamily Portfolio (3) 90% 8 Various Multifamily Jan. 2018 $ 141,743 Kraft Chicago Industrial Portfolio 100% 3 Aurora, IL Industrial Jan. 2018 151,365 Canyon Industrial Portfolio 100% 146 Various (4) Industrial Mar. 2018 1,837,213 The Boulevard 100% 1 Phoenix, AZ Multifamily April 2018 48,392 Highroads MH 99% 3 Phoenix, AZ Multifamily April 2018 18,637 Blue Hills Multifamily 100% 1 Boston, MA Multifamily May 2018 131,747 Wave Multifamily Portfolio 100% 6 Various (5) Multifamily May 2018 423,135 ACG III Multifamily 95% 2 Gresham, OR & Turlock, CA Multifamily May 2018 96,182 Carroll Florida Multifamily 100% 2 Jacksonville & Orlando, FL Multifamily May 2018 116,832 HP Cold Storage Industrial Portfolio 100% 6 Various (6) Industrial May 2018 253,082 Henderson Select-Service 2-Pack 100% 2 Henderson, NV Hotel May 2018 36,260 Orlando Select-Service 2-Pack 100% 2 Orlando, FL Hotel May 2018 48,862 Solis at Flamingo 95% 1 Las Vegas, NV Multifamily June 2018 72,560 Evergreen Minari MH 99% 2 Phoenix, AZ Multifamily June 2018 8,614 Southwest MH 99% 14 Various (7) Multifamily June 2018 176,194 Velaire at Aspera 100% 1 Phoenix, AZ Multifamily July 2018 64,573 Hidden Springs MH 99% 1 Desert Hot Springs, CA Multifamily July 2018 17,122 SVPAC MH 99% 2 Phoenix, AZ Multifamily July 2018 14,278 Coyote Multifamily Portfolio 100% 6 Phoenix, AZ Multifamily Aug. 2018 311,813 Corporex Select Service Portfolio 100% 5 Various (8) Hotel Aug. 2018 117,869 JW Marriott San Antonio Hill Country Resort 100% 1 San Antonio, TX Hotel Aug. 2018 604,323 Vista Center 100% 1 Miami, FL Retail Aug. 2018 34,738 EdR Student Housing Portfolio 95% 20 Various (9) Multifamily Sept. 2018 1,230,857 Royal Vegas MH 99% 1 Las Vegas, NV Multifamily Oct. 2018 8,372 Hampton Inn & Suites Federal Way 100% 1 Seattle, WA Hotel Oct. 2018 33,672 Staybridge Suites Reno 100% 1 Reno, NV Hotel Nov. 2018 17,964 Salt Lake City Select Service 3 Pack 60% 3 Salt Lake City, UT Hotel Nov. 2018 104,508 Meridian Industrial Portfolio 100% 106 Various (10) Industrial Nov. 2018 962,979 Stockton Distribution Center 100% 1 Stockton, CA Industrial Dec. 2018 94,285 Summit Industrial Portfolio 100% 8 Atlanta, GA Industrial Dec. 2018 40,463 Riverest MH 99% 1 Tavares, FL Multifamily Dec. 2018 6,165 Avanti Apartments 100% 1 Las Vegas, NV Multifamily Dec. 2018 69,008 359 $ 7,293,807 (1) Certain of the investments made by the Company provide the seller or the other partner a profits interest based on certain internal rate of return hurdles being achieved. Such investments are consolidated by the Company and any profits interest due to the other partner is reported within non-controlling interests. (2) Purchase price is inclusive of acquisition-related costs. (3) The Aston Multifamily Portfolio closed in two stages and the final eight properties closed in January 2018. The first closing in November 2017 included 12 properties. The total Aston Multifamily Portfolio is located in four markets: Austin/San Antonio, TX (47% of units), Dallas/Fort Worth, TX (21%), Nashville, TN (18%), and Louisville, KY (14%). (4) (5) The Wave Multifamily Portfolio is located in five markets: Greater Seattle, WA (29% of units), Sacramento, CA (28%), Las Vegas, NV (22%), Spokane, WA (14%), and Portland, OR (7%). (6) The HP Cold Storage Industrial Portfolio is located in four markets: Stockton, CA (52% of sq. ft.), Atlanta, GA (24%), Baltimore, MD (18%), and Austin, TX (6%). (7) Southwest MH is located in three markets: Phoenix, AZ (86% of sites), San Diego, CA (11%), and Palm Desert, CA (3%). (8) The Corporex Select Service Portfolio is located in five markets: Phoenix, AZ (24% of keys), Reno, NV (23%), Salt Lake City, UT (20%), Sonoma, CA (17%), and Tampa, FL (16%). (9) The EdR Student Housing Portfolio consists of 10,610 beds primarily concentrated at Penn State University (15% of beds), University of Arizona (10%), University of Virginia (8%), Arizona State University (8%) and Virginia Tech (8%). (10) The Meridian Industrial Portfolio consists of 106 industrial properties primarily concentrated in Memphis, TN (23% of sq. ft.), Orlando, FL (19%), Jacksonville, FL (10%), Atlanta, GA (9%), Richmond, VA (7%), and Winston-Salem, NC (7%). During the year ended December 31, 2017, the Company acquired interests in 27 real estate investments, which were comprised of 55 industrial, 48 multifamily, 10 hotel, and 2 retail properties. The following table provides details of the properties acquired during the year ended December 31, 2017 ($ in thousands): Investment Ownership Interest (1) Number of Properties Location Sector Acquisition Date Purchase Price (2) Hyatt Place UC Davis 100% 1 Davis, CA Hotel Jan. 2017 $ 32,687 Sonora Canyon Apartments 100% 1 Mesa, AZ Multifamily Feb. 2017 40,983 Stockton Industrial Park 100% 1 Stockton, CA Industrial Feb. 2017 32,751 Bakers Centre 100% 1 Philadelphia, PA Retail Mar. 2017 54,223 TA Multifamily Portfolio 100% 6 Various (3) Multifamily Apr. 2017 432,593 HS Industrial Portfolio 100% 38 Various (4) Industrial Apr. 2017 405,930 Emory Point 100% 1 Atlanta, GA Multifamily (5) May 2017 201,578 Nevada West Multifamily 100% 3 Las Vegas, NV Multifamily May 2017 170,965 Hyatt Place San Jose Downtown 100% 1 San Jose, CA Hotel June 2017 65,321 Mountain Gate & Trails Multifamily 100% 2 Las Vegas, NV Multifamily June 2017 83,572 Elysian West Multifamily 100% 1 Las Vegas, NV Multifamily July 2017 107,027 Florida Select-Service 100% 4 Tampa Hotel July 2017 58,973 Hyatt 100% 1 Atlanta, GA Hotel Aug. 2017 35,332 Harbor 5 Multifamily 100% 5 Dallas, TX Multifamily Aug. 2017 146,161 Gilbert Multifamily 90% 2 Gilbert, AZ Multifamily Sept. 2017 147,039 Domain & GreenVue Multifamily 100% 2 Dallas, TX Multifamily Sept. 2017 134,452 Fairfield Industrial Portfolio 100% 11 Fairfield, NJ Industrial Sept. 2017 74,283 ACG II Multifamily Portfolio 94% 4 Various (6) Multifamily Sept. 2017 148,038 Plaza Del Sol Retail 100% 1 Burbank, CA Retail Oct. 2017 45,898 Boston/Worcester Select-Service 3-Pack 100% 3 Boston Hotel Oct. 2017 81,762 Southeast Industrial Portfolio 100% 5 Various (7) Industrial Nov. 2017 116,487 Olympus Multifamily 95% 3 Jacksonville, FL Multifamily Nov. 2017 142,129 Aston Multifamily Portfolio 90% 12 Various (8) Multifamily Nov. 2017 381,445 Amberglen West Multifamily 100% 1 Hillsboro, OR Multifamily Nov. 2017 95,035 Talavera and Flamingo Multifamily 100% 2 Las Vegas, NV Multifamily Dec. 2017 115,427 Walden Pond & Montair Multifamily Portfolio 95% 2 Everett, WA and Thornton, CO Multifamily Dec. 2017 127,819 Signature at Kendall Multifamily 100% 1 Miami, FL Multifamily Dec. 2017 139,468 115 $ 3,617,378 (1) Certain of the investments made by the Company provide the seller or the other partner a profits interest based on certain internal rate of return hurdles being achieved. Such investments are consolidated by the Company and any profits interest due to the other partner is reported within non-controlling interests. (2) Purchase price is inclusive of acquisition-related costs. (3) The TA Multifamily Portfolio consists of a 32-floor property in downtown Orlando, FL (19% of units) and five garden style properties located in the suburbs of Palm Beach Gardens, FL (19%), Chicago, IL (19%), Orlando, FL (17%), Dallas, TX (14%), and Kansas City, KS (12%). (4) The HS Industrial Portfolio is located in six submarkets: Atlanta, GA (38% of sq. ft.), Chicago, IL (23%), Houston, TX (17%), Harrisburg, PA (10%), Dallas, TX (10%) and Orlando, FL (2%). (5) Emory Point also includes 124,000 square feet of walkable retail space. (6) The ACG II Multifamily Portfolio consists of four garden style properties in Gilbert, AZ (30% of units), Modesto, CA (25%), Olympia, WA (24%), and Flagstaff, AZ (21%). (7) The Southeast Industrial Portfolio is located in Jacksonville, FL (53% of sq. ft.), Atlanta, GA (26%), and Nashville, TN (21%). (8) The Aston Multifamily Portfolio is located in four markets: Austin/San Antonio, TX (49% of units), Dallas/Fort Worth, TX (25%), Nashville, TN (22%), and Louisville, KY (4%). The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2018 ($ in thousands): Canyon Industrial Portfolio EdR Student Housing Portfolio Meridian Industrial Portfolio JW Marriott San Antonio Hill Country Resort Wave Multifamily Portfolio All Other Total Building $ 1,362,916 $ 1,034,732 $ 736,302 $ 474,529 $ 323,954 $ 1,563,496 $ 5,495,929 Land and land improvements 376,762 138,249 165,881 84,218 82,686 535,141 1,382,937 Furniture, fixtures and equipment — 11,072 — 39,979 5,252 42,667 98,970 In-place lease intangibles 109,031 51,583 64,623 597 11,243 103,387 340,464 Above-market lease intangibles 8,459 — 2,862 — — 3,775 15,096 Below-market — — 793 — — — 793 Below-market lease intangibles (19,955 ) (122 ) (13,604 ) — — (13,853 ) (47,534 ) Above-market — (4,657 ) — — — — (4,657 ) Other — — 6,122 5,000 — 687 11,809 Total purchase price $ 1,837,213 $ 1,230,857 $ 962,979 $ 604,323 $ 423,135 $ 2,235,300 $ 7,293,807 Assumed mortgage notes (1) — 46,070 11,190 — — 151,220 208,480 Non-controlling interest — 12,802 — — — — 12,802 Net purchase price $ 1,837,213 $ 1,171,985 $ 951,789 $ 604,323 $ 423,135 $ 2,084,080 $ 7,072,525 (1) Refer to Note 6 for additional details on the Company’s mortgage notes. The weighted-average amortization periods for the acquired in-place lease intangibles, above-market lease intangibles, below-market ground lease intangibles, below-market lease intangibles, and above-market ground lease intangibles of the properties acquired during the year ended December 31, 2018 were 4, 5, 65, 7 and 86 years, respectively. The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2017 ($ in thousands): TA Multifamily Portfolio HS Industrial Portfolio Aston Multifamily Portfolio Emory Point Nevada West All Other Total Building and building improvements $ 337,889 $ 345,391 $ 306,602 $ 171,709 $ 145,305 $ 1,501,061 $ 2,807,957 Land and land improvements 68,456 45,081 47,645 — 17,409 394,410 573,001 Furniture, fixtures and equipment 4,651 — 4,926 3,040 2,833 46,766 62,216 In-place lease intangibles 21,880 20,793 22,272 11,207 5,418 79,740 161,310 Below-market ground lease intangibles — — — — — 4,623 4,623 Above-market lease intangibles 24 2,726 — 84 — 3,836 6,670 Below-market lease intangibles (307 ) (8,061 ) — (576 ) — (6,245 ) (15,189 ) Prepaid ground lease rent — — — 16,114 — — 16,114 Other intangibles — — — — — 676 676 Total purchase price $ 432,593 $ 405,930 $ 381,445 $ 201,578 $ 170,965 $ 2,024,867 $ 3,617,378 Assumed mortgage notes (1) — — — — — 200,967 200,967 Net purchase price $ 432,593 $ 405,930 $ 381,445 $ 201,578 $ 170,965 $ 1,823,900 $ 3,416,411 (1) Refer to Note 6 for additional details on the Company’s mortgage notes. The weighted-average amortization periods for the acquired in-place lease intangibles, below-market ground lease intangibles, above-market lease intangibles, below-market lease intangibles, prepaid ground lease rent and other intangibles of the properties acquired during the year ended December 31, 2017 were 3, 53, 6, 6, 71 and 4 years, respectively. |
Intangibles
Intangibles | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangibles | 4. Intangibles The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2018 December 31, 2017 Intangible assets: In-place lease intangibles $ 354,261 $ 131,833 Below-market ground lease intangibles 5,415 4,623 Above-market lease intangibles 21,626 6,670 Prepaid ground lease intangibles 16,114 16,114 Other 5,676 676 Total intangible assets 403,092 159,916 Accumulated amortization: In-place lease amortization (104,745 ) (45,160 ) Below-market ground lease amortization (162 ) (85 ) Above-market lease amortization (4,903 ) (600 ) Prepaid ground lease amortization (378 ) (151 ) Other (246 ) (76 ) Total accumulated amortization (110,434 ) (46,072 ) Intangible assets, net $ 292,658 $ 113,844 Intangible liabilities: Below-market lease intangibles $ 62,199 $ 14,920 Above-market ground lease intangibles 4,657 — Total intangible liabilities 66,856 14,920 Accumulated amortization: Below-market lease amortization (11,132 ) (1,764 ) Above-market ground lease amortization (15 ) — Total accumulated amortization (11,147 ) (1,764 ) Intangible liabilities, net $ 55,709 $ 13,156 The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2018 is as follows ($ in thousands): In-place Lease Intangibles Below-market Ground Lease Intangibles Above-market Lease Intangibles Prepaid Ground Lease Intangibles Below-market Lease Intangibles Above-market Ground Lease Intangibles 2019 $ 93,288 $ 91 $ 4,871 $ 227 $ (12,362 ) $ (54 ) 2020 49,827 91 3,954 227 (10,185 ) (54 ) 2021 37,350 91 3,407 227 (7,834 ) (54 ) 2022 25,658 91 2,336 227 (5,884 ) (54 ) 2023 15,402 91 1,018 227 (4,340 ) (54 ) Thereafter 27,991 4,798 1,137 14,601 (10,462 ) (4,372 ) $ 249,516 $ 5,253 $ 16,723 $ 15,736 $ (51,067 ) $ (4,642 ) |
Investments in Real Estate-Rela
Investments in Real Estate-Related Securities | 12 Months Ended |
Dec. 31, 2018 | |
Investments Schedule [Abstract] | |
Investments in Real Estate-Related Securities | 5. Investments in Real Estate-Related Securities The following tables detail the Company’s investments in Real Estate-Related Securities, which were exclusively CMBS with the exception of one corporate bond position ($ in thousands): December 31, 2018 Number of Positions Credit Rating (1) Collateral (2) Weighted Average Coupon (3) Weighted Average Maturity Date (4) Face Amount/ Notional (5) Cost Basis Fair Value CMBS: 38 BB Hospitality, Industrial, Multifamily, Office, Retail L+2.83% 9/4/2024 $ 941,240 $ 939,742 $ 930,411 26 BBB Hospitality, Industrial, Multifamily, Office L+2.15% 11/18/2024 578,771 576,601 571,171 21 B Hospitality, Multifamily, Office L+3.56% 9/19/2024 496,383 495,095 490,019 3 A Hospitality, Industrial, Retail L+1.81% 3/10/2023 89,165 89,184 88,358 7 Other Multifamily L+1.99% 6/13/2026 35,442 34,876 34,951 Interest Only: 2 AAA Multifamily 0.1% 3/12/2027 1,802,581 9,959 9,957 1 BBB Multifamily 0.1% 5/25/2028 225,802 1,414 1,415 1 A Multifamily 0.1% 7/25/2025 194,399 1,001 1,001 Zero Coupon: 2 Other Multifamily N/A 3/2/2027 166,793 80,892 81,875 Corporate Bond: 1 BB Hospitality 6.5% 9/15/2026 52,652 52,652 50,755 102 $ 2,281,416 $ 2,259,913 December 31, 2017 Number of Positions Credit Rating (1) Collateral (2) Weighted Average Coupon (3) Weighted Average Maturity Date (4) Face Amount/ Notional (5) Cost Basis Fair Value 15 BB Hospitality, Office, Multifamily, Retail L+3.21% 12/18/2022 $ 423,770 $ 423,658 $ 424,419 10 B Hospitality, Office, Multifamily L+4.05% 1/27/2024 284,371 284,127 285,037 9 BBB Hospitality, Office, Multifamily, Industrial, Retail L+2.28% 5/11/2022 194,013 193,838 194,549 3 Other Multifamily L+2.50% 9/15/2026 11,749 11,749 11,737 37 $ 913,372 $ 915,742 (1) AAA represents credit ratings of AAA and AAA-, A represents credit ratings of A+, A, and A-, BBB represents credit ratings of BBB+, BBB, and BBB-, BB represents credit ratings of BB+, BB, and BB-, and B represents credit ratings of B+, B, and B-. Other consists of investments that, as of December 31, 2018 and 2017, were either not ratable or have not been submitted to rating agencies. (2) Multifamily Real Estate-Related Securities are collateralized by various forms of rental housing including single-family homes and apartments. (3) The term “L” refers to the one-month U.S. dollar-denominated London Interbank Offer Rate (“LIBOR”). As of December 31, 2018 and 2017, one-month LIBOR was equal to 2.5% and 1.6%, respectively. (4) Weighted average maturity date is based on the fully extended maturity date of the underlying collateral. (5) Represents notional amount for interest only positions. The Company’s investments in Real Estate-Related Securities included CMBS collateralized by properties owned by Blackstone-advised investment vehicles and CMBS collateralized by loans originated or acquired by Blackstone-advised investment vehicles. The following table details the Company’s affiliate CMBS positions ($ in thousands): Fair Value Interest Income Year Ended December 31, Year Ended December 31, 2018 2017 2018 2017 CMBS collateralized by properties $ 919,392 $ 561,474 $ 38,581 $ 8,917 CMBS collateralized by a loan 163,404 63,608 5,423 1,310 Total $ 1,082,796 $ 625,082 $ 44,004 $ 10,227 Such CMBS were purchased in fully or over-subscribed offerings. Each investment in such CMBS by Blackstone and its affiliates (including the Company) represented a minority participation in any individual tranche. The Company acquired its minority participation interests from third-party investment banks on market terms negotiated by the majority third-party investors. Blackstone and its affiliates (including the Company) will forgo all non-economic rights (including voting rights) in such CMBS as long as the Blackstone-advised investment vehicles either own the properties collateralizing, loans underlying, or have an interest in a different part of the capital structure related to such CMBS. The Company’s investments in Real Estate-Related Securities also included $62.2 million of CMBS collateralized by pools of commercial real estate debt, a portion of which included certain of the Company’s mortgage notes. The Company recognized $0.7 million of interest income related to such CMBS during the year ended December 31, 2018. As described in Note 2, the Company classifies its investments in Real Estate-Related Securities as trading and records these investments at fair value in Real Estate-Related Securities on the Company’s Consolidated Balance Sheets. During the years ended December 31, 2018 and 2017, the Company recorded an unrealized loss of $24.7 million and an unrealized gain of $2.4 million, respectively, as a component of Income From Real Estate-Related Securities in the Company’s Consolidated Statements of Operations. During the year ended December 31, 2018, certain of the Company’s CMBS investments were fully or partially repaid and the Company recorded a realized gain of $194 thousand as a component of Income From Real Estate-Related Securities on the Company’s Consolidated Statements of Operations. During the year ended December 31, 2018, the Company sold one security which resulted in a $7 thousand gain on the Company’s Consolidated Statements of Operations. |
Mortgage Notes, Term Loans, and
Mortgage Notes, Term Loans, and Revolving Credit Facilities | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Mortgage Notes, Term Loans, and Revolving Credit Facilities | 6. Mortgage Notes, Term Loans, and Revolving Credit Facilities The following is a summary of the mortgage notes, term loans, and revolving credit facilities secured by the Company’s properties ($ in thousands): Principal Balance Outstanding ( 3) Indebtedness Weighted Average Interest Rate ( 1) Weighted Average Maturity Date ( 2) Maximum Facility Size December 31, 2018 December 31, 2017 Fixed rate Fixed rate mortgages 4.08% 11/25/2025 N/A $ 4,782,326 $ 1,468,294 Mezzanine loan 5.85% 4/5/2025 N/A 200,000 — Total fixed rate loans 4.15% 11/16/2025 4,982,326 1,468,294 Variable rate Floating rate mortgages L+1.70% 5/20/2026 N/A 675,116 63,600 Variable rate term loans L+1.69% 12/27/2022 N/A 603,500 208,500 Variable rate revolving credit facilities L+1.73% 10/21/2022 $ 903,500 624,200 385,431 Total variable rate loans L+1.71% 2/18/2024 1,902,816 657,531 Total loans secured by the Company's properties 4.16% 5/24/2025 6,885,142 2,125,825 Deferred financing costs, net (53,546 ) (16,075 ) Premium on assumed debt, net 1,673 1,541 Mortgage notes, term loans, and revolving credit facilities, net $ 6,833,269 $ 2,111,291 (1) The term “L” refers to the one-month LIBOR. As of December 31, 2018 and 2017, one-month LIBOR was equal to 2.5% and 1.6%, respectively. (2) For loans where the Company, at its sole discretion, has extension options, the maximum maturity date has been assumed. (3) The majority of the Company’s mortgages contain yield or spread maintenance provisions. The following table presents the future principal payments due under the Company’s mortgage notes, term loans, and revolving credit facilities as of December 31, 2018 ($ in thousands): Year Amount 2019 $ 18,050 2020 33,798 2021 177,252 2022 742,647 2023 605,900 Thereafter 5,307,495 Total $ 6,885,142 |
Repurchase Agreements
Repurchase Agreements | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Repurchase Agreements [Abstract] | |
Repurchase Agreements | 7. Repurchase Agreements On June 29, 2018, the Company entered into a master repurchase agreement with Barclays Bank PLC (the “Barclays MRA”) providing the Company with financing secured by the Company’s investments in Real Estate-Related Securities. The Barclays MRA has a maximum facility size of $750.0 million and repurchase agreements under the Barclays MRA have longer dated maturity compared to our other counterparties. The initial maturity date of the repurchase agreements under the Barclays MRA is September 29, 2021. The terms of the Barclays MRA contain specific spread and advance rate provisions based on the rating of the underlying CMBS. The Company is in compliance with all financial covenants of the Barclays MRA. Additionally, during the year ended December 31, 2018, the Company has entered into repurchase agreements with Morgan Stanley Bank, N.A. (the “MS MRA”), MUFG Securities EMEA PLC (the “MUFG MRA”) The following tables are a summary of the Company’s repurchase agreements ($ in thousands): December 31, 2018 Facility Weighted Average Maturity Date (1) Security Interests Collateral Assets (2) Outstanding Balance Prepayment Provisions Barclays MRA 9/29/2021 CMBS (3) $ 989,059 $ 750,000 None RBC MRA 6/18/2019 CMBS 794,917 650,018 None Citi MRA 1/13/2019 CMBS 193,372 154,736 None MS MRA 1/15/2019 CMBS 173,050 146,569 None MUFG MRA 4/30/2020 CMBS 15,266 12,400 None $ 2,165,664 $ 1,713,723 December 31, 2017 Facility Weighted Average Maturity Date (1) Security Interests Collateral Assets (2) Outstanding Balance Prepayment Provisions Citi MRA 8/23/2018 CMBS $ 694,808 $ 512,975 None RBC MRA 11/24/2018 CMBS 194,918 150,238 None BAML MRA 2/9/2018 CMBS 26,016 19,635 None $ 915,742 $ 682,848 (1) Subsequent to year end, the Company rolled its repurchase agreement contracts expiring in January 2019 into new contracts. (2) Represents the fair value of the Company’s investments in Real Estate-Related Securities that serve as collateral. (3) As of December 31, 2018, the security interests pledged under the Barclays MRA include one corporate bond. The weighted average interest rate of our repurchase agreements was 3.96% (L+1.42%) and 3.11% (L+1.55%) for the year ended December 31, 2018 and 2017, respectively. The term “L” refers to the one-month, three-month or twelve-month U.S. dollar-denominated London Interbank Offer Rate (“LIBOR”). |
Affiliate Line of Credit
Affiliate Line of Credit | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Affiliate Line of Credit | 8. Affiliate Line of Credit On January 23, 2017, the Company entered into an unsecured, uncommitted line of credit (the “Line of Credit”) up to a maximum amount of $250 million with Blackstone Holdings Finance Co. L.L.C. (“Lender”), an affiliate of Blackstone. The Line of Credit expires on January 23, 2020, and may be extended for up to 12 months, subject to Lender approval. The interest rate is the then-current rate offered by a third-party lender, or, if no such rate is available, LIBOR plus 2.25%. Interest under the Line of Credit is determined based on a one-month U.S. dollar-denominated LIBOR, which was 2.5% and 1.6% as of December 31, 2018 and 2017, respectively. Each advance under the Line of Credit is repayable on the earliest of (i) the expiration of the Line of Credit, (ii) Lender’s demand and (iii) the date on which the Adviser no longer acts as the Company’s investment adviser, provided that the Company will have 180 days to make such repayment in the cases of clauses (i) and (ii) and 45 days to make such repayment in the case of clause (iii). To the extent the Company has not repaid all loans and other obligations under the Line of Credit when repayment is required, the Company is obligated to apply the net cash proceeds from the Offering and any sale or other disposition of assets to the repayment of such loans and other obligations; provided that the Company will be permitted to (x) make payments to fulfill any repurchase requests pursuant to the Company’s share repurchase plan, (y) use funds to close any acquisition of property that the Company committed to prior to receiving a demand notice and (z) make quarterly distributions to the Company’s stockholders at per share levels consistent with the immediately preceding fiscal quarter and as otherwise required for the Company to maintain its REIT status. As of December 31, 2018 and 2017, the Company had $0 and $5.4 million in borrowings, respectively, including accrued interest, outstanding under the Line of Credit. |
Other Assets and Other Liabilit
Other Assets and Other Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Other Assets and Other Liabilities | 9. Other Assets and Other Liabilities The following table summarizes the components of other assets ($ in thousands): December 31, 2018 December 31, 2017 Real estate intangibles, net $ 292,658 $ 113,844 Receivables 45,799 7,386 Pre-acquisition costs 15,361 6,588 Prepaid expenses 10,746 3,267 Straight-line rent receivable 10,337 2,045 Deferred leasing costs, net 7,621 1,193 Deferred financing costs, net 5,822 5,248 Other 22,601 5,711 Total $ 410,945 $ 145,282 The following table summarizes the components of accounts payable, accrued expenses and other liabilities ($ in thousands): December 31, 2018 December 31, 2017 Subscriptions received in advance $ 166,542 $ 107,576 Real estate taxes payable 56,555 13,169 Intangible liabilities, net 55,709 13,156 Accounts payable and accrued expenses 53,247 13,202 Prepaid rental income 29,112 5,381 Accrued interest expense 24,432 8,072 Tenant security deposits 23,493 8,107 Distribution payable 21,360 7,716 Other 33,948 6,456 Total $ 464,398 $ 182,835 |
Equity and Redeemable Non-contr
Equity and Redeemable Non-controlling Interest | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Equity and Redeemable Non-controlling Interest | 10. Equity and Redeemable Non-controlling Interest Authorized Capital The Company is authorized to issue preferred stock and four classes of common stock consisting of Class S shares, Class T shares, Class D shares, and Class I shares. The Company’s board of directors has the ability to establish the preferences and rights of each class or series of preferred stock, without stockholder approval, and as such, it may afford the holders of any series or class of preferred stock preferences, powers and rights senior to the rights of holders of common stock. The differences among the common share classes relate to upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees. See Note 2 for a further description of such items. Other than the differences in upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees, each class of common stock has the same economic and voting rights. As of December 31, 2018 and 2017, the Company had authority to issue 2,100,000,000 shares, consisting of the following: Classification Number of Shares (in thousands) Par Value Preferred Stock 100,000 $ 0.01 Class S Shares 500,000 $ 0.01 Class T Shares 500,000 $ 0.01 Class D Shares 500,000 $ 0.01 Class I Shares 500,000 $ 0.01 Total 2,100,000 Common Stock The following tables detail the movement in the Company’s outstanding shares of common stock (in thousands): Class S Class T Class D Class I Total January 1, 2017 — — — 20 20 Common stock issued 128,277 5,600 3,931 30,146 167,954 Distribution reinvestment 1,834 25 24 578 2,461 Common stock repurchased (26 ) — — (41 ) (67 ) Independent directors' restricted stock grant (1) — — — 16 16 December 31, 2017 130,085 5,625 3,955 30,719 170,384 Common stock issued 142,828 17,379 26,112 77,964 264,283 Distribution reinvestment 6,266 385 434 2,394 9,479 Common stock repurchased (2,190 ) (76 ) (126 ) (2,853 ) (5,245 ) Independent directors' restricted stock grant (1) — — — 37 37 December 31, 2018 276,989 23,313 30,375 108,261 438,938 (1) The directors’ restricted stock grant represents aggregate $0.4 million and $0.1 million of the annual compensation paid to the independent directors for the years ended December 31, 2018 and 2017, respectively. The grant is amortized over the one-year service period of such grant. Share Repurchase Plan The Company has adopted a share repurchase plan whereby, subject to certain limitations, stockholders may request on a monthly basis that the Company repurchases all or any portion of their shares. Should repurchase requests, in the Company’s judgment, place an undue burden on its liquidity, adversely affect its operations or risk having an adverse impact on the Company as a whole, or should the Company otherwise determine that investing its liquid assets in real properties or other illiquid investments rather than repurchasing its shares is in the best interests of the Company as a whole, then the Company may choose to repurchase fewer shares than have been requested to be repurchased, or none at all. Further, the Company’s board of directors may modify, suspend or terminate the Company’s share repurchase plan if it deems such action to be in the Company’s best interest and the best interest of its stockholders. In the event that the Company determines to repurchase some but not all of the shares submitted for repurchase during any month, shares repurchased at the end of the month will be repurchased on a pro rata basis. For the years ended December 31, 2018 and 2017, the Company repurchased 5,245,304 and 66,888 shares of common stock, respectively, representing a total of $56.4 million and $0.7 million, respectively. The Company had no unfulfilled repurchase requests during the years ended December 31, 2018 and 2017. Distributions The Company generally intends to distribute substantially all of its taxable income, which does not necessarily equal net income as calculated in accordance with GAAP, to its stockholders each year to comply with the REIT provisions of the Internal Revenue Code. Each class of our common stock receives the same gross distribution per share. The net distribution varies for each class based on the applicable stockholder servicing fee, which is deducted from the monthly distribution per share and paid directly to the applicable distributor. The following table details the aggregate distributions declared for each applicable class of common stock: Year Ended December 31, 2018 Class S Class T Class D Class I Gross distributions declared per share of common stock $ 0.6286 $ 0.6286 $ 0.6286 $ 0.6286 Stockholder servicing fee per share of common stock (0.0917 ) (0.0902 ) (0.0267 ) — Net distributions declared per share of common stock $ 0.5369 $ 0.5384 $ 0.6019 $ 0.6286 Year Ended December 31, 2017 Class S Class T Class D Class I Gross distributions declared per share of common stock (1) $ 0.4782 $ 0.3567 $ 0.4008 $ 0.4782 Stockholder servicing fee per share of common stock (0.0823 ) (0.0511 ) (0.0173 ) — Net distributions declared per share of common stock $ 0.3959 $ 0.3056 $ 0.3835 $ 0.4782 (1) The Company did not sell any Class D or Class T shares prior to May 2017 and June 2017, respectively, thus no distributions were declared for Class D or Class T prior to such date. Distributions for the year ended December 31, 2018 were characterized, for federal income tax purposes, as 3.11% ordinary income and 96.89% return of capital. Of the 3.11%, 0.51% and 2.60% of the distributions paid in 2018 were non-qualified and qualified, respectively. Distributions for the year ended December 31, 2017, were characterized, for federal income tax purposes, as 34.15% ordinary income and 65.85% return of capital. Of the 34.15%, 32.55% and 1.60% of the distributions paid in 2017 were non-qualified and qualified, respectively. Redeemable Non-controlling Interest In connection with its performance participation interest, the Special Limited Partner holds Class I units in BREIT OP. See Note 11 for further details of the Special Limited Partner’s performance participation interest. Because the Special Limited Partner has the ability to redeem its Class I units for Class I shares in the Company or cash, at the election of the Special Limited Partner, the Company has classified these Class I units as Redeemable Non-controlling Interest in mezzanine equity on the Company’s Consolidated Balance Sheets. The Redeemable Non-controlling Interest is recorded at the greater of the carrying amount, adjusted for their share of the allocation of income or loss and dividends, or the redemption value, which is equivalent to fair value, of such units at the end of each measurement period. As the redemption value was greater than the adjusted carrying value at December 31, 2018, the Company recorded an allocation adjustment of $2.2 million between Additional Paid-in Capital and Redeemable Non-controlling Interest. The following table summarizes the redeemable non-controlling interest activity for the year ended December 31, 2018 ($ in thousands): January 1, 2018 $ 250 Settlement of 2017 performance participation allocation 16,974 Repurchases (8,400 ) GAAP income allocation (1,035 ) Distributions (748 ) Fair value allocation 2,192 December 31, 2018 $ 9,233 Non-controlling Interests - BREIT OP unitholders On July 27, 2018, the Company entered into an Amended and Restated Limited Partnership Agreement (the “A&R OP Agreement”) for BREIT OP. The A&R OP Agreement amended the limited partnership agreement governing BREIT OP to provide for a new class of units (“Class B Units”) of BREIT OP, among other changes. Class B Units are available to certain suitable investors in private placements generally utilizing a “draw-down” structure. Class B Units are sold at their NAV per unit, which will equal the NAV per Class I unit of BREIT OP and will generally correspond to the NAV per share of the Company’s Class I shares. Class B Units are subject to the same fees and expenses of Class I Units and do not have any preferential rights relative to the Company’s interest in BREIT OP, nor are they exchangeable for any shares of the Company’s common stock. Holders of the Class B Units have a right to redeem their units for cash in a manner similar to the ability of the Company’s stockholders to have their shares repurchased under the Company’s share repurchase plan. Class B Unit redemptions are subject to similar limitations as share repurchases under the Company’s share repurchase plan, namely the early repurchase deduction and caps on monthly and quarterly repurchases (calculated on an aggregate basis with shares of the Company’s common stock submitted for repurchase for the applicable period). The redemption rights of the Class B unitholders do not affect the terms of the Company’s share repurchase plan. Class B Units have the same limited voting rights as the other BREIT OP units and such rights do not affect the Company’s exclusive power, as general partner of BREIT OP, to manage and conduct the business of BREIT OP. During the year ended December 31, 2018, BREIT OP received $100.0 million in Class B Units subscriptions from an entity advised by Blackstone Insurance Solutions . As of December 31, 2018, there were 9,268,500 Class B Units outstanding. Class B Units subscriptions are recorded as a component of Non-controlling Interests on the Company’s Consolidated Balance Sheets. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 11. Related Party Transactions Management Fee The Adviser is entitled to an annual management fee equal to 1.25% of the Company’s NAV, payable monthly, as compensation for the services it provides to the Company. The management fee can be paid, at the Adviser’s election, in cash, shares of common stock, or BREIT OP units. The Adviser has elected to receive the management fee in shares of the Company’s common stock to date. During the years ended December 31, 2018 and 2017, the Company incurred management fees of $42.7 million and $8.9 million, respectively. In accordance with the advisory agreement between the Company, BREIT OP and the Adviser, the Adviser waived the management fee for the period January 1, 2017 to June 30, 2017. The Company issued 3,845,338 and 664,411 unregistered Class I shares to the Adviser as payment for the 2018 and 2017 management fees, respectively, and also had a payable of $5.1 million and $1.9 million related to management fees as of December 31, 2018 and 2017, respectively, which is included in Due to Affiliates on the Company’s Consolidated Balance Sheets. During January 2019 and 2018, the Adviser was issued 474,552 and 180,215, respectively, unregistered Class I shares as payment for the management fee accrued as of December 31, 2018 and 2017. The shares issued to the Adviser for payment of the management fee were issued at the applicable NAV per share at the end of each month for which the fee was earned. During 2018, the Adviser submitted 1,828,163 Class I shares for repurchase resulting in a total repurchase of $19.8 million. Performance Participation Allocation Additionally, the Special Limited Partner holds a performance participation interest in BREIT OP that entitles it to receive an allocation of BREIT OP’s total return to its capital account. Total return is defined as distributions paid or accrued plus the change in NAV. Under the BREIT OP agreement, the annual total return will be allocated solely to the Special Limited Partner after the other unit holders have received a total return of 5% (after recouping any loss carryforward amount) and such allocation will continue until the allocation between the Special Limited Partner and all other unit holders is equal to 12.5% and 87.5%, respectively. Thereafter, the Special Limited Partner will receive an allocation of 12.5% of the annual total return. The allocation of the performance participation interest is ultimately determined at the end of each calendar year and will be paid in cash or Class I units of BREIT OP, at the election of the Special Limited Partner. During the years ended December 31, 2018 and 2017, the Company recognized $37.5 million and $17.0 million, respectively, of Performance Participation Allocation Expense in the Company’s Consolidated Statement of Operations. The 2018 performance participation allocation became payable on December 31, 2018 and, in January 2019, the Company issued approximately 3.5 million Class I units in BREIT OP to the Special Limited Partner as payment for the 2018 performance participation allocation. Such Class I units were issued at the NAV per unit as of December 31, 2018. Subsequent to the Class I units being issued, 0.4 million of such units were redeemed for $4.3 million and 1.1 million of such units were exchanged for unregistered Class I shares in the Company. The 2017 performance participation allocation became payable on December 31, 2017 and, in January 2018, the Company issued approximately 1.6 million Class I units in BREIT OP to the Special Limited Partner as payment for the 2017 performance participation allocation. Such Class I units were issued at the NAV per unit as of December 31, 2017. In June 2018, the Special Limited Partner redeemed 0.8 million Class I units in BREIT OP for $8.4 million based on the NAV of the Class I units at May 31, 2018. As of December 31, 2018, Blackstone and its employees, including the Company’s executive officers, continue to own an aggregate of $97.8 million worth of shares of the Company and Class I units of BREIT OP. Due to Affiliates The following table details the components of due to affiliates ($ in thousands): December 31, 2018 December 31, 2017 Accrued stockholder servicing fee (1) $ 238,496 $ 102,076 Performance participation allocation 37,484 16,974 Advanced organization and offering costs 8,181 10,160 Accrued management fees 5,124 1,904 Accrued affiliate incentive compensation awards 4,714 — Accrued affiliate service provider expenses 3,115 1,485 Other 4,467 472 Total $ 301,581 $ 133,071 (1) The Company accrues the full amount of the future stockholder servicing fees payable to the Dealer Manager for Class S, Class T, and Class D shares up to the 8.75% of gross proceeds limit at the time such shares are sold. As of December 31, 2018 and 2017, the Company accrued $238.5 million and $102.1 million, respectively, of stockholder servicing fees payable to the Dealer Manager related to the Class S, Class T, and Class D shares sold. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fee and all or a portion of the stockholder servicing fees received by the Dealer Manager to such selected dealers. Accrued affiliate service provider expenses and incentive compensation awards The Company has engaged BRE Hotels and Resorts (“BRE”), a portfolio company controlled (but not owned) by a Blackstone-advised fund, to provide revenue management, expense management, corporate support (including accounting, legal and tax), capital expenditure project and transaction support services for the Company’s hotel properties. The Company has engaged LivCor, LLC (“LivCor”), a portfolio company owned by a Blackstone-advised fund, to provide revenue management, expense management, construction management, corporate support (including accounting, information technology, legal, tax and human resources), capital expenditure project and transaction support services for the Company’s multifamily properties. For the year ended December 31, 2017, the Company engaged Equity Office Management, L.L.C. (“EOM”), a portfolio company owned by Blackstone-advised funds, to provide property management, expense management, construction management, corporate support (including leasing, accounting, legal and tax), capital expenditure project and transaction support services for the Company’s office and industrial properties. Beginning January 1, 2018, the Company has engaged Gateway Industrial Properties L.L.C. (“Gateway”), a portfolio company owned by a Blackstone-advised fund, to provide the services that EOM had previously provided to the Company’s industrial properties. The Company has engaged ShopCore Properties TRS Management LLC (“ShopCore”), a portfolio company owned by a Blackstone-advised fund, to provide property management, revenue management, expense management, construction management, corporate support (including leasing, accounting, legal and tax), capital expenditure project and transaction support services for the Company’s retail properties. The Company has engaged Revantage Corporate Services, LLC (“Revantage”), a portfolio company owned by a Blackstone-advised fund, to provide corporate support services (including, without limitation, accounting, legal, tax, treasury, as applicable), and transaction support services to certain of the Company’s investments directly. The Company issued incentive compensation awards to certain employees of the portfolio company service providers described above that entitles them to receive an allocation of total return over a certain hurdle amount, as determined by the Company. Neither Blackstone nor the Adviser receives any fees or incentive payments from agreements between the Company and such portfolio companies or their management teams. The portfolio company incentive compensation awards of $4.7 million became payable on December 31, 2018 and, in January 2019, the Company issued approximately 0.4 million of fully vested Class I units in BREIT OP to certain employees of such companies. The following table details the amounts incurred for such providers during the years ended December 31, 2018 and 2017 ($ in thousands). Affiliate service provider expenses and portfolio company incentive compensation awards are included as a component of Rental Property Operating and Hotel Operating expense, as applicable, o ansaction support fees were capitalized to Investments in Real Estate on the Company’s Consolidated Balance Sheets. Affiliate Service Provider Expenses Portfolio Company Incentive Compensation Awards Capitalized Transaction Support Services For the Year Ended December 31, For the Year Ended December 31, For the Year Ended December 31, 2018 2017 2018 2017 2018 2017 LivCor $ 7,885 $ 1,279 $ 2,708 $ — $ 1,491 $ 923 Gateway 5,495 — 1,295 — 215 — ShopCore 1,334 240 71 — 252 — BRE 940 116 640 — — — EOM — 881 — — — 51 Revantage 649 — — — 9 — Total $ 16,303 $ 2,516 $ 4,714 $ — $ 1,967 $ 974 Affiliate Title Service Provider Blackstone owns Lexington National Land Services (“LNLS”), a title agent company. LNLS acts as an agent for one or more underwriters in issuing title policies and/or providing support services in connection with investments by the Company, Blackstone and their affiliates and related parties and third parties. LNLS focuses on transactions in rate-regulated states where the cost of title insurance is non-negotiable. LNLS will not perform services in non-regulated states for the Company, unless (i) in the context of a portfolio transaction that includes properties in rate-regulated states, (ii) as part of a syndicate of title insurance companies where the rate is negotiated by other insurers or their agents, (iii) when a third party is paying all or a material portion of the premium or (iv) when providing only support services to the underwriter. LNLS earns fees, which would have otherwise been paid to third parties, by providing title agency services and facilitating placement of title insurance with underwriters. Blackstone receives distributions from LNLS in connection with investments by the Company based on its equity interest in LNLS. In each case, there will be no related offset to the Company. During the years ended December 31, 2018 and 2017, the Company paid LNLS $4.6 million and $1.0 million, respectively, for title services related to 16 and 13 investments, respectively, and such costs were capitalized to Investments in Real Estate on the Company’s Consolidated Balance Sheets. Other As of December 31, 2018 and 2017, the Adviser had advanced $1.1 million and $0.5 million, respectively, of expenses on the Company’s behalf for general corporate expenses provided by unaffiliated third parties. As of December 31, 2018, the Company had $3.4 million of accrued repurchases due to the Adviser. During the years ended December 31, 2018 and 2017, the Company engaged an affiliate of the Adviser to perform certain internal audit and compliance functions. For the years ended December 31, 2018 and 2017, the Company had incurred $40,000 and $30,000, respectively, of fees for such services. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. Commitments and Contingencies As of December 31, 2018, the Company was not subject to any material litigation nor is the Company aware of any material litigation threatened against it. Five of the Company’s investments in real estate include ground lease obligations with varying maturity dates through 2104. The Company recognizes ground rent expense on a straight-line basis as a component of Rental Property Operating or Hotel Operating expense on the Company’s Consolidated Statement of Operations. The following table details the Company’s contractual obligations and commitments with payments due subsequent to December 31, 2018 ($ in thousands): Year Future Commitments 2019 $ 1,470 2020 1,508 2021 1,547 2022 1,586 2023 1,622 Thereafter 460,055 Total $ 467,788 |
Five Year Minimum Rental Paymen
Five Year Minimum Rental Payments | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Five Year Minimum Rental Payments | 13. Five Year Minimum Rental Payments The following table presents the future minimum rents the Company expects to receive for its industrial and retail properties ($ in thousands). Leases at the Company’s multifamily investments are short term, generally 12 months or less, and are not included. Year Future Minimum Rents 2019 $ 238,043 2020 215,327 2021 185,419 2022 144,186 2023 102,609 Thereafter 285,981 Total $ 1,171,565 |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting | 14. Segment Reporting The Company operates in five reportable segments: Multifamily properties, Industrial properties, Hotel properties, Retail properties, and Real Estate-Related Securities. The Company allocates resources and evaluates results based on the performance of each segment individually. The Company believes that Segment Net Operating Income is the key performance metric that captures the unique operating characteristics of each segment. The following table sets forth the total assets by segment ($ in thousands): December 31, 2018 December 31, 2017 Multifamily $ 5,396,457 $ 2,567,735 Industrial 3,966,796 636,900 Hotel 1,268,992 281,242 Retail 136,273 103,138 Real estate-related securities 2,281,033 918,975 Other (Corporate) 187,607 117,318 Total assets $ 13,237,158 $ 4,625,308 The following table sets forth the financial results by segment for the year ended December 31, 2018 ($ in thousands): Multifamily Industrial Hotel Retail Real Estate- Related Securities Total Revenues: Rental revenue $ 328,476 $ 157,970 $ — $ 8,073 $ — $ 494,519 Tenant reimbursement income 17,143 45,114 — 1,888 — 64,145 Hotel revenue — — 138,433 — — 138,433 Other revenue 22,945 578 2,485 153 — 26,161 Total revenues 368,564 203,662 140,918 10,114 — 723,258 Expenses: Rental property operating 176,800 62,824 — 3,469 — 243,093 Hotel operating — — 97,248 — — 97,248 Total expenses 176,800 62,824 97,248 3,469 — 340,341 Income from real estate-related securities — — — — 55,323 55,323 Segment net operating income $ 191,764 $ 140,838 $ 43,670 $ 6,645 $ 55,323 $ 438,240 Depreciation and amortization $ 257,201 $ 116,206 $ 27,944 $ 4,944 $ — $ 406,295 Other income (expense): General and administrative (10,982 ) Management fees (42,659 ) Performance participation allocation (37,484 ) Interest income 410 Interest expense (233,184 ) Other income (expense) 489 Net loss $ (291,465 ) Net loss attributable to non-controlling interests in third party joint ventures $ 6,188 Net loss attributable to non-controlling interests in BREIT OP $ 4,221 Net loss attributable to BREIT stockholders $ (281,056 ) The following table sets forth the financial results by segment for the year ended December 31, 2017 ($ in thousands): Multifamily Industrial Hotel Retail Real Estate- Related Securities Total Revenues: Rental revenue $ 82,846 $ 24,034 $ — $ 3,549 $ — $ 110,429 Tenant reimbursement income 3,476 6,812 — 664 — 10,952 Hotel revenue — — 29,916 — — 29,916 Other revenue 6,589 12 — 34 — 6,635 Total revenues 92,911 30,858 29,916 4,247 — 157,932 Expenses: Rental property operating 40,831 9,265 — 1,019 — 51,115 Hotel operating — — 20,417 — — 20,417 Total expenses 40,831 9,265 20,417 1,019 — 71,532 Income from real estate-related securities — — — — 17,749 17,749 Segment net operating income $ 52,080 $ 21,593 $ 9,499 $ 3,228 $ 17,749 $ 104,149 Depreciation and amortization $ 96,732 $ 17,063 $ 6,071 $ 1,927 $ — $ 121,793 Other income (expense): General and administrative (7,692 ) Management fees (8,867 ) Performance participation allocation (16,974 ) Interest income 454 Interest expense (36,884 ) Other income (expense) 57 Net loss $ (87,550 ) Net loss attributable to non-controlling interests in third party joint ventures $ 1,292 Net loss attributable to non-controlling interests in BREIT OP $ — Net loss attributable to BREIT stockholders $ (86,258 ) |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) | 15. Quarterly Financial Information (Unaudited) The following tables present the Company’s quarterly results ($ in thousands, except per share data): 2018 March 31 June 30 September 30 December 31 Total revenues $ 109,684 $ 152,226 $ 200,162 $ 261,186 Net loss $ (49,638 ) $ (51,944 ) $ (58,763 ) $ (131,120 ) Net loss attributable to BREIT stockholders $ (47,548 ) $ (50,482 ) $ (57,667 ) $ (125,359 ) Net loss per share $ (0.23 ) $ (0.19 ) $ (0.17 ) $ (0.30 ) 2017 March 31 June 30 September 30 December 31 Total revenues $ 2,444 $ 28,339 $ 48,904 $ 78,245 Net loss $ (1,267 ) $ (16,701 ) $ (31,847 ) $ (37,735 ) Net loss attributable to BREIT stockholders $ (1,267 ) $ (16,701 ) $ (31,725 ) $ (36,565 ) Net loss per share $ (0.03 ) $ (0.22 ) $ (0.28 ) $ (0.24 ) For the period March 2, 2016 (date of initial capitalization) through Quarter Ended Quarter Ended Quarter Ended 2016 March 31 June 30 September 30 December 31 Total revenues $ — $ — $ — $ — Net loss $ — $ — $ — $ (115 ) Net loss attributable to BREIT stockholders $ — $ — $ — $ (115 ) Net loss per share $ — $ — $ — $ (5.74 ) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | 16. Subsequent Events Acquisitions Subsequent to December 31, 2018, the Company acquired an aggregate of $923.8 million of real estate across three separate transactions, exclusive of closing costs. The acquisitions were related to multifamily and industrial properties. Subsequent to December 31, 2018, the Company purchased an aggregate of $102.6 million of floating-rate CMBS. Subsequent to December 31, 2018, the Company entered into a $350.0 million unsecured line of credit with a third party. The line of credit expires on February 22, 2022, and may be extended for up to one year. Interest under the line of credit is determined based on a one-month U.S. dollar-denominated LIBOR plus 2.50%. Status of the Offering As of March 15, 2019, the Company had sold an aggregate of 517,213,810 shares of its common stock (consisting of 322,215,005 Class S shares, 27,288,937 Class T shares, 38,209,181 Class D shares, and 129,500,687 Class I shares) in the Offering resulting in net proceeds of $5.5 billion to the Company as payment for such shares. |
Real Estate and Accumulated Dep
Real Estate and Accumulated Depreciation | 12 Months Ended |
Dec. 31, 2018 | |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | |
Real Estate and Accumulated Depreciation | Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Multifamily properties: Sonora Canyon Apartments Mesa, AZ $ 26,455 $ 9,358 $ 30,007 $ 81 $ 435 $ 9,439 $ 30,442 $ 39,881 $ (2,268 ) 2017 (1) TA Multifamily Portfolio: 55 West Orlando, FL 63,600 10,030 97,652 23 4,386 10,053 102,038 112,091 (6,157 ) 2017 (1) Addison Keller Springs Apartments Addison, TX 36,140 9,382 37,786 42 675 9,424 38,461 47,885 (2,229 ) 2017 (1) Estates at Park Orlando, FL 43,225 11,567 57,128 167 1,505 11,734 58,633 70,367 (3,506 ) 2017 (1) San Merano Palm Beach Gardens, FL 69,777 24,422 73,818 377 3,803 24,799 77,621 102,420 (4,538 ) 2017 (1) The Preserve at Osprey Lake Gurnee, IL 41,340 10,899 42,850 304 2,398 11,203 45,248 56,451 (2,695 ) 2017 (1) West End at City Center Lenexa, KS 20,767 2,156 28,655 125 788 2,281 29,443 31,724 (1,752 ) 2017 (1) Emory Point Atlanta, GA 130,000 — 171,709 32 1,696 32 173,405 173,437 (10,545 ) 2017 (1) Nevada West Multifamily: Dream Henderson, NV 37,783 4,745 47,195 26 533 4,771 47,728 52,499 (2,821 ) 2017 (1) South West Las Vegas, NV 37,487 6,071 46,952 13 530 6,084 47,482 53,566 (2,836 ) 2017 (1) Union Las Vegas, NV 46,110 6,593 51,158 1 662 6,594 51,820 58,414 (3,026 ) 2017 (1) Mountain Mountain Gate Las Vegas, NV 33,704 6,632 37,909 95 933 6,727 38,842 45,569 (2,081 ) 2017 (1) Mountain Trails Las Vegas, NV 26,281 5,569 29,208 90 977 5,659 30,185 35,844 (1,662 ) 2017 (1) Elysian West Multifamily Las Vegas, NV 75,400 17,565 80,840 145 184 17,710 81,024 98,734 (4,656 ) 2017 (1) Gilbert Multifamily: Redstone at SanTan Village Gilbert, AZ 40,484 16,491 53,056 25 54 16,516 53,110 69,626 (2,563 ) 2017 (1) Vistara at SanTan Village Gilbert, AZ 48,129 15,574 54,663 7 8 15,581 54,671 70,252 (2,507 ) 2017 (1) Harbor 5 Multifamily: Abbey at Vista Ridge Lewisville, TX 32,338 6,903 36,616 85 766 6,988 37,382 44,370 (1,841 ) 2017 (1) Fieldcrest Carrollton, TX 13,860 4,507 13,216 253 1,390 4,760 14,606 19,366 (790 ) 2017 (1) Tall Timbers Euless, TX 17,990 4,873 18,919 163 1,152 5,036 20,071 25,107 (1,017 ) 2017 (1) The Tallows Carrollton, TX 20,510 6,053 20,934 60 1,669 6,113 22,603 28,716 (1,102 ) 2017 (1) Villas at Waterchase Lewisville, TX 18,573 5,693 18,762 249 458 5,942 19,220 25,162 (953 ) 2017 (1) Domain & GreenVue Multifamily: Domain at Midtown Park Dallas, TX 47,600 16,678 47,939 7 114 16,685 48,053 64,738 (2,233 ) 2017 (1) GreenVue Richardson, TX 23,900 11,754 49,788 53 73 11,807 49,861 61,668 (2,269 ) 2017 (1) ACG II Multifamily: Brooks Landing Modesto, CA 24,500 2,740 33,738 65 800 2,805 34,538 37,343 (1,506 ) 2017 (1) Sterling Pointe Flagstaff, AZ 18,672 3,344 30,331 58 598 3,402 30,929 34,331 (1,367 ) 2017 (1) Woodland Olympia, WA 23,485 3,940 27,206 5 419 3,945 27,625 31,570 (1,346 ) 2017 (1) Highlands Gilbert, AZ 27,715 10,679 28,170 64 938 10,743 29,108 39,851 (1,258 ) 2017 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Olympus Multifamily: Cape House Jacksonville, FL 44,594 11,548 55,009 328 2,517 11,876 57,526 69,402 (2,367 ) 2017 (1) Mirador at River City Jacksonville, FL 23,250 4,034 28,288 12 559 4,046 28,847 32,893 (1,165 ) 2017 (1) Stovall at River City Jacksonville, FL 23,215 3,996 29,314 23 580 4,019 29,894 33,913 (1,200 ) 2017 (1) Aston Multifamily Portfolio: Ashley Oaks San Antonio, TX 27,202 7,940 26,929 53 2,407 7,993 29,336 37,329 (1,270 ) 2017 (1) Audubon Park Nashville, TN 20,987 3,934 20,178 414 1,316 4,348 21,494 25,842 (890 ) 2017 (1) Belmont Grand Prairie, TX 16,503 3,535 18,145 183 961 3,718 19,106 22,824 (781 ) 2017 (1) Cantare at Indian Lake Village Sumner, TN 23,357 2,236 32,572 — 83 2,236 32,655 34,891 (1,277 ) 2017 (1) Cooper Creek Louisville, KY 8,352 1,292 11,092 20 674 1,312 11,766 13,078 (474 ) 2017 (1) Grayson Ridge North Richland Hills, TX 15,277 3,587 18,136 112 — 3,699 18,136 21,835 (738 ) 2017 (1) Landing at Mansfield Mansfield, TX 26,013 3,833 33,054 6 1,091 3,839 34,145 37,984 (1,393 ) 2017 (1) Meritage at Steiner Ranch Austin, TX 49,733 8,422 52,899 44 1,058 8,466 53,957 62,423 (2,156 ) 2017 (1) Montelena Round Rock, TX 20,502 3,875 25,462 64 721 3,939 26,183 30,122 (1,045 ) 2017 (1) Richland Falls Murfreesboro, TN 24,457 2,690 30,046 15 348 2,705 30,394 33,099 (1,194 ) 2017 (1) Rosemont at Olmos Park San Antonio, TX 13,308 2,468 14,831 4 477 2,472 15,308 17,780 (606 ) 2017 (1) Trails at Buda Ranch Buda, TX 20,704 3,832 23,258 81 262 3,913 23,520 27,433 (1,005 ) 2017 (1) Fairmarc (Hills at Fair Oaks) Fair Oaks Ranch, TX 23,056 4,697 28,212 4 128 4,701 28,340 33,041 (923 ) 2018 (1) Springmarc San Marcos, TX 13,936 3,147 21,147 90 242 3,237 21,389 24,626 (737 ) 2018 (1) Renaissance St. Andrews Louisville, KY 8,238 2,205 13,227 59 800 2,264 14,027 16,291 (465 ) 2018 (1) Valley Farms North (fka Southpointe) Louisville, KY 10,952 2,118 14,118 5 39 2,123 14,157 16,280 (449 ) 2018 (1) Valley Farms Louisville, KY 9,285 1,682 12,500 — 330 1,682 12,830 14,512 (408 ) 2018 (1) Keystone Farms Nashville, TN 5,623 1,795 12,033 41 201 1,836 12,234 14,070 (399 ) 2018 (1) Arbors of Carrollton Carrollton, TX 5,680 3,393 9,871 62 653 3,455 10,524 13,979 (361 ) 2018 (1) RSA Condos Louisville, KY — 295 1,927 1 6 296 1,933 2,229 (64 ) 2018 (1) Amberglen West Multifamily Hillsboro, OR 58,600 9,176 81,990 — 9 9,176 81,999 91,175 (3,135 ) 2017 (1) Talavera Talavera Las Vegas, NV 33,897 14,801 46,622 45 696 14,846 47,318 62,164 (2,015 ) 2017 (1) Flamingo Las Vegas, NV 41,177 14,447 34,871 85 540 14,532 35,411 49,943 (1,538 ) 2017 (1) Walden Pond & Montair Multifamily Portfolio: Walden Pond Thornton, CO 47,705 9,711 47,052 81 1,325 9,792 48,377 58,169 (2,108 ) 2017 (1) Montair Everett, WA 44,325 19,105 46,552 74 1,128 19,179 47,680 66,859 (1,830 ) 2017 (1) Signature at Kendall Multifamily Miami, FL 88,700 28,419 103,131 269 70 28,688 103,201 131,889 (4,316 ) 2017 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) The Boulevard Phoenix, AZ 29,728 8,738 37,766 23 535 8,761 38,301 47,062 (1,107 ) 2018 (1) Blue Hills Multifamily Randolph, MA 86,191 16,236 108,066 121 268 16,357 108,334 124,691 (2,396 ) 2018 (1) Wave Multifamily Portfolio Slate Creek Sacramento, CA 99,990 19,204 124,316 32 39 19,236 124,355 143,591 (3,049 ) 2018 (1) Montair Wave Tumwater, WA 53,049 16,515 57,382 61 614 16,576 57,996 74,572 (1,595 ) 2018 (1) Xander 3900 Las Vegas, NV 46,940 23,755 43,057 11 154 23,766 43,211 66,977 (1,216 ) 2018 (1) Stonepointe University Place, WA 32,672 9,427 37,072 25 331 9,452 37,403 46,855 (923 ) 2018 (1) Heatherbrae Milwaukie, OR 26,835 8,306 30,319 66 261 8,372 30,580 38,952 (788 ) 2018 (1) Big Trout Lodge Liberty Lake, WA 29,904 5,501 31,785 109 714 5,610 32,499 38,109 (812 ) 2018 (1) ACG III Multifamily Columbia Trails Gresham, OR 33,640 4,825 49,266 — 959 4,825 50,225 55,050 (1,040 ) 2018 (1) Sierra Oaks Turlock, CA 23,550 2,241 35,067 5 400 2,246 35,467 37,713 (732 ) 2018 (1) Carroll Florida Multifamily Knightsbridge at Stoneybrook Orlando, FL 36,881 7,989 48,397 97 450 8,086 48,847 56,933 (1,089 ) 2018 (1) ARIUM Town Center Jacksonville, FL 37,338 8,186 43,909 4 89 8,190 43,998 52,188 (1,012 ) 2018 (1) Solis at Flamingo Las Vegas, NV 47,190 22,388 47,117 181 805 22,569 47,922 70,491 (1,186 ) 2018 (1) Velaire at Aspera Glendale, AZ 40,671 12,242 49,800 — 32 12,242 49,832 62,074 (1,149 ) 2018 (1) Coyote Multifamily Portfolio Canyon Glendale, AZ 25,610 6,505 32,190 — 100 6,505 32,290 38,795 (533 ) 2018 (1) Finisterra Tempe, AZ 42,695 11,457 52,620 29 120 11,486 52,740 64,226 (876 ) 2018 (1) Foothills Phoenix, AZ 35,043 9,847 42,715 19 198 9,866 42,913 52,779 (711 ) 2018 (1) Lumiere Chandler, AZ 29,600 7,521 36,596 10 121 7,531 36,717 44,248 (604 ) 2018 (1) Stadium Village Surprise, AZ 44,982 10,845 55,007 39 163 10,884 55,170 66,054 (963 ) 2018 (1) Waterford Peoria, AZ 22,745 4,833 27,716 2 245 4,835 27,961 32,796 (432 ) 2018 (1) Avanti Apartments Las Vegas, NV — 4,630 59,893 — 9 4,630 59,902 64,532 (124 ) 2018 (1) Highroads MH Broadway Estates Mesa, AZ 6,077 8,765 102 2 — 8,767 102 8,869 (209 ) 2018 (1) Los Hermanos Cottonwood, AZ 2,230 3,313 81 — — 3,313 81 3,394 (73 ) 2018 (1) El Rio De Oro Cottonwood, AZ 4,541 5,238 244 — — 5,238 244 5,482 (155 ) 2018 (1) Evergreen Minari MH — — — Evergreen Chandler, AZ 3,334 4,293 78 — — 4,293 78 4,371 (56 ) 2018 (1) Minari Apache Junction, AZ 2,298 3,835 61 — — 3,835 61 3,896 (51 ) 2018 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Southwest MH Longhaven Estates Phoenix, AZ 18,185 29,613 698 — 3 29,613 701 30,314 (272 ) 2018 (1) Parkhaven Estates & RV Resort Mesa, AZ 14,742 22,145 782 1 175 22,146 957 23,103 (310 ) 2018 (1) Rosehaven Estates & RV Resort Apache Junction, AZ 13,996 19,276 266 — 779 19,276 1,045 20,321 (260 ) 2018 (1) Springhaven Estates Mesa, AZ 9,807 17,180 423 — — 17,180 423 17,603 (219 ) 2018 (1) Skyhaven Estates Apache Junction, AZ 10,307 14,542 236 — — 14,542 236 14,778 (156 ) 2018 (1) Brighthaven Estates Mesa, AZ 5,962 8,476 438 — — 8,476 438 8,914 (115 ) 2018 (1) Palmdale Estates Indio, CA 7,161 7,220 235 — — 7,220 235 7,455 (119 ) 2018 (1) Springdale Estates San Marcos, CA 5,607 6,236 309 — 9 6,236 318 6,554 (99 ) 2018 (1) Glenhaven Estates Mesa, AZ 5,920 7,820 461 — 36 7,820 497 8,317 (107 ) 2018 (1) Riverdale Estates Indio, CA 6,035 6,540 113 — — 6,540 113 6,653 (143 ) 2018 (1) Sundowner RV Resort Apache Junction, AZ 3,077 6,400 249 — — 6,400 249 6,649 (101 ) 2018 (1) Sunhaven RV Resort Apache Junction, AZ 3,260 8,146 219 — — 8,146 219 8,365 (107 ) 2018 (1) Brookhaven RV Resort Apache Junction, AZ 2,240 6,793 206 — — 6,793 206 6,999 (95 ) 2018 (1) Newhaven Estates Apache Junction, AZ 2,459 4,163 149 — — 4,163 149 4,312 (73 ) 2018 (1) Hidden Springs MH Desert Hot Springs, CA 12,342 15,223 707 — 63 15,223 770 15,993 (280 ) 2018 (1) SVPAC MH Pacific Mobile Manor Apache Junction, AZ 5,637 7,528 289 — — 7,528 289 7,817 (101 ) 2018 (1) Star Valley Ranch Apache Junction, AZ 2,471 5,503 365 — — 5,503 365 5,868 (94 ) 2018 (1) Royal Vegas MH Las Vegas, NV 6,075 7,682 220 — — 7,682 220 7,902 (52 ) 2018 (1) Riverest MH Tavares, FL — 4,390 1,244 — — 4,390 1,244 5,634 (18 ) 2018 (1) EdR Student Housing Portfolio The District on Apache Tempe, AZ 97,149 14,180 111,719 2 139 14,182 111,858 126,040 (1,052 ) 2018 (1) East Edge Tuscaloosa, AL 65,931 16,579 74,404 — 6 16,579 74,410 90,989 (715 ) 2018 (1) The District on 5th Tucson, AZ 67,269 5,956 82,701 12 — 5,968 82,701 88,669 (777 ) 2018 (1) The Pointe at State College State College, PA 65,018 8,422 76,294 — 424 8,422 76,718 85,140 (743 ) 2018 (1) Retreat at Blacksburg Blacksburg, WV 64,532 12,698 71,693 9 18 12,707 71,711 84,418 (716 ) 2018 (1) The Retreat at State College State College, PA 51,294 8,456 59,511 — 40 8,456 59,551 68,007 (587 ) 2018 (1) The Lofts at Orlando Orlando, FL 48,066 4,854 60,003 61 25 4,915 60,028 64,943 (582 ) 2018 (1) GrandMarc at the Corner Charlottesville, VA 47,130 175 70,119 — 8 175 70,127 70,302 (661 ) 2018 (1) The Province Boulder Boulder, CO 42,221 9,300 47,270 38 12 9,338 47,282 56,620 (459 ) 2018 (1) The Province Greenville Greenville, SC 45,961 8,458 45,948 — — 8,458 45,948 54,406 (446 ) 2018 (1) Urbane Tucson Tucson, AZ 39,290 5,128 57,842 — — 5,128 57,842 62,970 (545 ) 2018 (1) The Province at Kent Kent, OH 36,477 3,052 41,735 — 7 3,052 41,742 44,794 (405 ) 2018 (1) University Village Towers Riverside, CA 29,818 3,966 40,159 — — 3,966 40,159 44,125 (377 ) 2018 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) EdR Student Housing Portfolio (continued) Retreat at Louisville Louisville, KY 34,266 10,401 31,231 2 2 10,403 31,233 41,636 (310 ) 2018 (1) Jefferson Commons at Charlottesville Charlottesville, VA 6,071 1,809 6,385 — — 1,809 6,385 8,194 (62 ) 2018 (1) The Lotus Apartments Boulder, CO 26,742 8,330 26,688 — 57 8,330 26,745 35,075 (259 ) 2018 (1) 319 Bragg Auburn, AL 21,924 3,835 28,175 — 11 3,835 28,186 32,021 (273 ) 2018 (1) The Berk Berkeley, CA 12,552 4,584 16,540 — 2 4,584 16,542 21,126 (160 ) 2018 (1) Wertland Square Charlottesville, VA 15,237 3,134 17,545 — — 3,134 17,545 20,679 (165 ) 2018 (1) Georgia Heights Athens, GA 46,200 4,931 68,771 — 200 4,931 68,971 73,902 (655 ) 2018 (1) Total Multifamily Properties $ 3,636,618 $ 1,006,190 $ 4,251,635 $ 5,751 $ 55,788 $ 1,011,941 $ 4,307,423 $ 5,319,364 $ (143,384 ) Industrial properties: Stockton Industrial Park Stockton, CA $ 14,926 $ 10,079 $ 21,240 $ — $ 321 $ 10,079 $ 21,561 $ 31,640 $ (1,630 ) 2017 (1) HS Industrial Portfolio: 1650 Bluegrass Lakes Parkway Alpharetta, GA 4,167 998 7,705 — 17 998 7,722 8,720 (378 ) 2017 (1) 500 Interstate Parkway Lithia Springs, GA 4,899 1,105 8,687 — — 1,105 8,687 9,792 (500 ) 2017 (1) Cobb West Business Park Austell, GA 51,281 5,344 97,862 — 484 5,344 98,346 103,690 (5,312 ) 2017 (1) 8110 Troon Circle Austell, GA 3,022 1,336 5,481 — 109 1,336 5,590 6,926 (374 ) 2017 (1) 8140 Troon Circle Austell, GA 3,251 1,342 5,761 — 174 1,342 5,935 7,277 (405 ) 2017 (1) 1000 N. Main Street Lombard, IL 1,740 483 3,489 — — 483 3,489 3,972 (195 ) 2017 (1) 111 Internationale Blvd Glendale Heights, IL 2,152 631 3,698 — 95 631 3,793 4,424 (190 ) 2017 (1) 120 North Schmale Road Carol Stream, IL 2,289 1,184 4,511 — — 1,184 4,511 5,695 (262 ) 2017 (1) 1215 - 1225 Bowes Road Elgin, IL 1,465 620 2,733 — 72 620 2,805 3,425 (171 ) 2017 (1) 1287 Naperville Road Romeoville, IL 2,198 935 5,023 — 63 935 5,086 6,021 (243 ) 2017 (1) 1275-1285 Holmes Road Elgin, IL 2,793 1,118 5,172 — 41 1,118 5,213 6,331 (263 ) 2017 (1) 1811‐1821 Industrial Drive Libertyville, IL 2,610 850 4,340 — 63 850 4,403 5,253 (269 ) 2017 (1) 221 Westgate Drive Carol Stream, IL 3,388 757 6,727 — — 757 6,727 7,484 (343 ) 2017 (1) 2350 Pinehurst Blvd Addison, IL 3,068 858 5,683 — 1,138 858 6,821 7,679 (289 ) 2017 (1) 417-419 Village Drive Carol Stream, IL 3,113 837 5,902 — — 837 5,902 6,739 (325 ) 2017 (1) 472 Thomas Drive Bensenville, IL 2,839 1,001 7,908 — 227 1,001 8,135 9,136 (404 ) 2017 (1) 490 Windy Point Drive Glendale Heights, IL 1,465 416 2,837 — — 416 2,837 3,253 (157 ) 2017 (1) 540-570 Congress Circle South Roselle, IL 3,800 1,166 6,812 — — 1,166 6,812 7,978 (380 ) 2017 (1) 6350 Church Road Hanover Park, IL 2,839 1,090 5,342 — — 1,090 5,342 6,432 (332 ) 2017 (1) 655 Remington Blvd Bolingbrook, IL 2,793 1,892 4,023 — 65 1,892 4,088 5,980 (252 ) 2017 (1) 340 Remington Blvd Bolingbrook, IL 5,723 2,313 9,953 — 135 2,313 10,088 12,401 (578 ) 2017 (1) 636 Schwab Circle Romeoville, IL 2,244 860 4,193 — — 860 4,193 5,053 (212 ) 2017 (1) 3232 East Loop North Houston, TX 1,511 632 2,416 — 22 632 2,438 3,070 (130 ) 2017 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) HS Industrial Portfolio (continued): 3262 East Loop Houston, TX 2,656 707 4,911 — — 707 4,911 5,618 (272 ) 2017 (1) 201 Cumberland Parkway Mechanicsburg, PA 12,133 1,467 21,649 — — 1,467 21,649 23,116 (1,170 ) 2017 (1) 181 Fulling Mill Rd Middletown, PA 5,998 866 12,492 — — 866 12,492 13,358 (651 ) 2017 (1) 5045 Ritter Road Mechanicsburg, PA 1,557 399 2,984 — 5 399 2,989 3,388 (195 ) 2017 (1) 957 Heinz Way Grand Prairie, TX 3,361 1,027 5,762 — — 1,027 5,762 6,789 (390 ) 2017 (1) 4030 Mint Way Dallas, TX 2,495 863 4,487 — 325 863 4,812 5,675 (253 ) 2017 (1) Twin Creeks Business Center Allen, TX 8,150 2,474 15,664 — 120 2,474 15,784 18,258 (936 ) 2017 (1) Carrier Parkway Grand Prairie, TX 3,255 1,052 6,266 — 30 1,052 6,296 7,348 (384 ) 2017 (1) Southport Center Orlando, FL 3,022 937 5,149 — 20 937 5,169 6,106 (285 ) 2017 (1) Palmbay Center Orlando, FL 2,518 590 4,064 — — 590 4,064 4,654 (203 ) 2017 (1) 8901-8918 Market St Houston, TX 6,502 1,662 11,944 — 26 1,662 11,970 13,632 (633 ) 2017 (1) 8921-8922 Market St Houston, TX 5,769 1,645 12,220 — 74 1,645 12,294 13,939 (609 ) 2017 (1) 8935-8947 Market St Houston, TX 4,350 1,294 8,167 — 27 1,294 8,194 9,488 (420 ) 2017 (1) 8967-8977 Market St Houston, TX 3,342 1,149 5,722 — — 1,149 5,722 6,871 (319 ) 2017 (1) 8979-8999 Market St Houston, TX 4,212 1,178 7,520 — — 1,178 7,520 8,698 (447 ) 2017 (1) Fairfield Industrial Portfolio 1 Gardner Road Fairfield, NJ 2,807 1,232 2,755 — 3 1,232 2,758 3,990 (135 ) 2017 (1) 4 Gardner Road Fairfield, NJ 4,132 1,767 4,682 — 26 1,767 4,708 6,475 (212 ) 2017 (1) 12 Gardner Road Fairfield, NJ 7,696 3,223 4,180 — 6 3,223 4,186 7,409 (224 ) 2017 (1) 15 Gardner Road Fairfield, NJ 2,523 1,093 4,074 — 22 1,093 4,096 5,189 (171 ) 2017 (1) 11 Stewart Place Fairfield, NJ 2,334 1,101 1,674 — 58 1,101 1,732 2,833 (76 ) 2017 (1) 17 Stewart Place Fairfield, NJ 2,302 1,170 1,900 — 5 1,170 1,905 3,075 (93 ) 2017 (1) 24 Stewart Place Fairfield, NJ 4,668 4,219 5,936 — 32 4,219 5,968 10,187 (251 ) 2017 (1) 67 Route 46 Fairfield, NJ 6,182 4,726 6,013 — 6 4,726 6,019 10,745 (271 ) 2017 (1) 5-7 Evans Street Fairfield, NJ 4,479 2,131 2,408 — 5 2,131 2,413 4,544 (119 ) 2017 (1) 20 Audrey Place Fairfield, NJ 8,200 4,194 8,677 — 13 4,194 8,690 12,884 (370 ) 2017 (1) 27-29 Dwight Place Fairfield, NJ 1,798 843 1,375 — 7 843 1,382 2,225 (72 ) 2017 (1) Southeast Industrial Portfolio Faye Road Jacksonville, FL 11,356 3,056 20,161 — 533 3,056 20,694 23,750 (721 ) 2017 (1) Jonesboro Commerce Center Jonesboro, GA 9,253 2,804 14,537 — — 2,804 14,537 17,341 (593 ) 2017 (1) Mason Road Distribution Center La Vergne, TN 9,580 3,574 16,037 — 210 3,574 16,247 19,821 (655 ) 2017 (1) Volkswagen BTS Jacksonville, FL 10,095 2,261 15,933 — — 2,261 15,933 18,194 (565 ) 2017 (1) Westlake Distribution Center Jacksonville, FL 14,207 3,291 22,985 — — 3,291 22,985 26,276 (831 ) 2017 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Kraft Chicago Industrial Portfolio 1700 Edgelawn Aurora, IL 31,460 17,424 43,812 — — 17,424 43,812 61,236 (1,528 ) 2018 (1) 2303 W. Indian Trail Aurora, IL 20,401 8,455 34,026 — — 8,455 34,026 42,481 (1,079 ) 2018 (1) 2380 Sullivan Rd. Aurora, IL 16,253 10,116 23,150 — — 10,116 23,150 33,266 (892 ) 2018 (1) Canyon Industrial Portfolio 6606 Pontius Rd Groveport, OH 41,750 4,606 42,030 — 859 4,606 42,889 47,495 (1,207 ) 2018 (1) 450 Airtech Pkwy Plainfield, IN 31,700 4,956 28,614 — — 4,956 28,614 33,570 (730 ) 2018 (1) 880 S Rohlwing Rd Addison, IL 25,000 6,603 30,295 — 10 6,603 30,305 36,908 (843 ) 2018 (1) 16824 Enterprise Blvd Crest Hill, IL 31,600 5,957 30,541 — 2,189 5,957 32,730 38,687 (837 ) 2018 (1) 6500 Sheriff Rd Landover, MD 23,000 9,479 24,030 — — 9,479 24,030 33,509 (664 ) 2018 (1) 4500 Northport Dr Northlake, TX 27,900 3,898 32,262 — — 3,898 32,262 36,160 (832 ) 2018 (1) 10874 Second Amendment Drive Glen Rock, PA 25,250 6,792 28,003 — — 6,792 28,003 34,795 (861 ) 2018 (1) 5680 W Jarvis St Niles, IL 23,000 11,223 16,678 — — 11,223 16,678 27,901 (443 ) 2018 (1) 245 Deen Still Rd Davenport, FL 18,800 3,126 23,200 — — 3,126 23,200 26,326 (648 ) 2018 (1) 1801 Innovation Blvd S Clayton, IN 19,250 3,398 20,013 — 661 3,398 20,674 24,072 (480 ) 2018 (1) 3101-3151 S Platte River Dr Englewood, CO 16,300 7,097 17,420 — — 7,097 17,420 24,517 (537 ) 2018 (1) 3155-3199 S Platte River Dr Englewood, CO 16,000 6,948 17,281 — — 6,948 17,281 24,229 (533 ) 2018 (1) 650 Commerce Pkwy E Dr Greenwood, IN 20,400 2,174 21,869 — 42 2,174 21,911 24,085 (617 ) 2018 (1) 7225 Santa Fe Dr Hodgkins, IL 19,800 7,040 21,744 — — 7,040 21,744 28,784 (517 ) 2018 (1) 1250 Terminus Dr Lithia Springs, GA 16,150 5,594 18,685 — — 5,594 18,685 24,279 (523 ) 2018 (1) 3201-3273 S Platte River Dr Englewood, CO 13,750 6,282 15,371 — 49 6,282 15,420 21,702 (455 ) 2018 (1) 1651 S Carlos Ave Ontario, CA 15,250 5,766 16,688 — — 5,766 16,688 22,454 (418 ) 2018 (1) 4326 86th Ave E Puyallup, WA 15,900 3,611 18,207 — — 3,611 18,207 21,818 (443 ) 2018 (1) 3025 E Dominguez St Carson, CA 17,900 15,959 7,447 — — 15,959 7,447 23,406 (213 ) 2018 (1) 1980 High Grove Ln Naperville, IL 16,400 4,125 17,768 — — 4,125 17,768 21,893 (523 ) 2018 (1) 1111 Northpoint Drive Coppell, TX 13,200 1,841 14,694 — 1,816 1,841 16,510 18,351 (432 ) 2018 (1) 7815 Third Flag Pkwy Austell, GA 13,800 2,598 17,964 — 381 2,598 18,345 20,943 (459 ) 2018 (1) 255 Fort Collier Rd Winchester, VA 14,300 3,347 17,763 — 61 3,347 17,824 21,171 (438 ) 2018 (1) 3040 Campus Dr Hatfield, PA 13,500 2,431 16,102 — 76 2,431 16,178 18,609 (402 ) 2018 (1) 300 Purity Dr Lebanon, IN 17,400 2,273 18,491 — 1,198 2,273 19,689 21,962 (470 ) 2018 (1) 10825 7th St Rancho Cucamonga, CA 12,700 4,962 13,018 — — 4,962 13,018 17,980 (337 ) 2018 (1) 4162 Georgia Blvd San Bernardino, CA 12,300 7,363 10,063 — — 7,363 10,063 17,426 (259 ) 2018 (1) 1595 MacArthur Boulevard Mahwah, NJ 10,900 3,672 11,139 — — 3,672 11,139 14,811 (299 ) 2018 (1) 5111 Frye Rd Irving, TX 15,000 3,858 14,623 — 23 3,858 14,646 18,504 (383 ) 2018 (1) 1 Wiley Dr Somerset, NJ 12,400 11,100 5,044 — — 11,100 5,044 16,144 (288 ) 2018 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Canyon Industrial Portfolio (continued) 5025 W Knollwood St Tampa, FL 16,000 2,558 18,601 — — 2,558 18,601 21,159 (459 ) 2018 (1) 2020 Greens Rd Houston, TX 15,000 1,918 14,391 — 414 1,918 14,805 16,723 (381 ) 2018 (1) 2303 Center Square Rd Logan Township, NJ 10,900 3,713 13,206 — — 3,713 13,206 16,919 (421 ) 2018 (1) 2235 Spiegel Dr Groveport, OH 12,900 2,455 14,574 — 1,291 2,455 15,865 18,320 (396 ) 2018 (1) 5001 N Hiatus Rd Sunrise, FL 10,750 6,916 10,491 — 42 6,916 10,533 17,449 (297 ) 2018 (1) 320 Route 17 S Mahwah, NJ 11,700 3,647 11,882 — — 3,647 11,882 15,529 (306 ) 2018 (1) 321 Apple Valley Rd Winchester, VA 10,750 1,830 15,296 — — 1,830 15,296 17,126 (453 ) 2018 (1) 4787 Stalwart Ave Fairburn, GA 10,150 1,034 15,747 — — 1,034 15,747 16,781 (476 ) 2018 (1) 1801 W Hawthorne Ln West Chicago, IL 11,800 3,055 12,863 — 85 3,055 12,948 16,003 (369 ) 2018 (1) 300 S Cedar Ave Rialto, CA 12,000 4,538 10,073 — — 4,538 10,073 14,611 (265 ) 2018 (1) 3110 Roy Orr Blvd Grand Prairie, TX 12,346 2,915 13,886 — — 2,915 13,886 16,801 (329 ) 2018 (1) 100 Corporate Dr Mahwah, NJ 10,500 4,226 9,939 — — 4,226 9,939 14,165 (331 ) 2018 (1) 1141 S US Highway 301 Tampa, FL 9,600 3,171 11,017 — — 3,171 11,017 14,188 (280 ) 2018 (1) 3100 Roy Orr Blvd Grand Prairie, TX 11,654 2,868 12,244 — — 2,868 12,244 15,112 (320 ) 2018 (1) 2220 Chemsearch Blvd Irving, TX 9,500 2,663 7,457 — — 2,663 7,457 10,120 (213 ) 2018 (1) 6901-6909 Snowden Rd Fort Worth, TX 10,000 1,744 11,298 — — 1,744 11,298 13,042 (302 ) 2018 (1) 1601-1701 W Hawthorne Ln West Chicago, IL 11,100 3,091 6,985 — 521 3,091 7,506 10,597 (228 ) 2018 (1) 13144 S Pulaski Rd Alsip, IL 11,200 3,375 10,713 — — 3,375 10,713 14,088 (321 ) 2018 (1) 3101 Summit Ave Plano, TX 9,900 1,640 10,542 — — 1,640 10,542 12,182 (280 ) 2018 (1) 750 Corporate Dr Mahwah, NJ 9,000 4,357 8,369 — — 4,357 8,369 12,726 (285 ) 2018 (1) 6695 Business Pkwy Elkridge, MD 8,400 2,165 9,448 — — 2,165 9,448 11,613 (242 ) 2018 (1) 1880 Country Farm Dr Naperville, IL 8,000 2,959 8,247 — 374 2,959 8,621 11,580 (301 ) 2018 (1) 238-248 Tubeway Dr Chicago, IL 7,600 1,292 9,416 — — 1,292 9,416 10,708 (240 ) 2018 (1) 3850 Royal Ave Simi Valley, CA 8,600 3,450 7,390 — — 3,450 7,390 10,840 (205 ) 2018 (1) 1700-1750 Harvester Rd West Chicago, IL 8,000 2,631 6,142 — — 2,631 6,142 8,773 (205 ) 2018 (1) 2210 Saint Germain Rd Dallas, TX 7,600 2,874 8,296 — — 2,874 8,296 11,170 (264 ) 2018 (1) 3602 N Kennicott Ave Arlington Heights, IL 8,400 1,957 8,373 — 100 1,957 8,473 10,430 (204 ) 2018 (1) 2615 S 80th St Tacoma, WA 8,250 2,380 10,368 — — 2,380 10,368 12,748 (274 ) 2018 (1) 6940 San Tomas Rd Elkridge, MD 8,600 1,873 9,918 — 218 1,873 10,136 12,009 (270 ) 2018 (1) 8 Thornton Rd Oakland, NJ 7,200 1,725 8,336 — — 1,725 8,336 10,061 (220 ) 2018 (1) 3250 Abilene St Aurora, CO 8,100 2,185 8,706 — — 2,185 8,706 10,891 (303 ) 2018 (1) 36 Saratoga Blvd Devens, MA 8,900 2,520 8,604 — — 2,520 8,604 11,124 (294 ) 2018 (1) 3825 Ohio Ave St. Charles, IL 9,750 2,255 7,559 — — 2,255 7,559 9,814 (261 ) 2018 (1) 442 Creamery Way Exton, PA 7,250 2,946 7,647 — — 2,946 7,647 10,593 (247 ) 2018 (1) 1435 Bradley Ln Carrollton, TX 7,900 1,382 9,429 — — 1,382 9,429 10,811 (255 ) 2018 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Canyon Industrial Portfolio (continued) 11333 E 55th Ave Denver, CO 7,100 2,212 9,525 — 85 2,212 9,610 11,822 (258 ) 2018 (1) 236 E Pima St Phoenix, AZ 7,250 3,406 7,520 — 68 3,406 7,588 10,994 (238 ) 2018 (1) 8335-8373 Ardwick Ardmore Rd Landover, MD 6,600 2,848 6,215 — 111 2,848 6,326 9,174 (203 ) 2018 (1) 1445-1455 E Riverview Dr San Bernardino, CA 7,700 5,325 6,349 — — 5,325 6,349 11,674 (201 ) 2018 (1) 11101 Franklin Ave Franklin Park, IL 8,900 3,254 7,017 — 26 3,254 7,043 10,297 (177 ) 2018 (1) 8375-8413 Ardwick Ardmore Rd Landover, MD 6,700 2,790 6,526 — 65 2,790 6,591 9,381 (199 ) 2018 (1) 10540 Bissonnet St Houston, TX 7,300 1,207 8,299 — 21 1,207 8,320 9,527 (235 ) 2018 (1) 7606 Whitehall Executive Ctr Charlotte, NC 7,400 1,465 9,055 — — 1,465 9,055 10,520 (243 ) 2018 (1) 10570 Bissonnet St Houston, TX 8,500 1,481 8,418 — 219 1,481 8,637 10,118 (205 ) 2018 (1) 13921 Senlac Dr Farmers Branch, TX 6,900 1,328 8,774 — — 1,328 8,774 10,102 (244 ) 2018 (1) 1198-1206 Nagel Blvd Batavia, IL 7,500 1,407 8,221 — 60 1,407 8,281 9,688 (253 ) 2018 (1) 10550 Bissonnet St Houston, TX 6,800 1,179 7,848 — — 1,179 7,848 9,027 (211 ) 2018 (1) 10560 Bissonnet St Houston, TX 6,900 1,204 8,334 — 19 1,204 8,353 9,557 (226 ) 2018 (1) 13835 Senlac Dr Farmers Branch, TX 7,000 1,174 7,951 — — 1,174 7,951 9,125 (242 ) 2018 (1) 1850 Airport Exchange Blvd Erlanger, KY 7,000 1,431 7,595 — 130 1,431 7,725 9,156 (224 ) 2018 (1) 2740-2760 Regency Dr Grand Prairie, TX 6,400 1,582 8,328 — 140 1,582 8,468 10,050 (236 ) 2018 (1) 16 Creek Pkwy Upper Chichester, PA 6,400 1,746 6,924 — — 1,746 6,924 8,670 (189 ) 2018 (1) 7142 Ambassador Rd Baltimore, MD 5,900 1,001 6,016 — — 1,001 6,016 7,017 (193 ) 2018 (1) 34210 9th Ave S Federal Way, WA 7,500 2,687 6,465 — 316 2,687 6,781 9,468 (162 ) 2018 (1) 2040 McKenzie Dr Carrollton, TX 6,300 1,336 7,407 — — 1,336 7,407 8,743 (206 ) 2018 (1) 7520 Airway Rd San Diego, CA 6,200 3,284 6,130 — — 3,284 6,130 9,414 (154 ) 2018 (1) 200 Corporate Dr Mahwah, NJ 5,700 2,812 5,786 — — 2,812 5,786 8,598 (188 ) 2018 (1) 9350-9370 S Point Dr Houston, TX 6,700 1,163 6,738 — — 1,163 6,738 7,901 (202 ) 2018 (1) 1835 Airport Exchange Blvd Erlanger, KY 5,700 925 5,934 — 138 925 6,072 6,997 (165 ) 2018 (1) 7223-7249 Ambassador Rd Baltimore, MD 6,000 1,259 6,430 — — 1,259 6,430 7,689 (193 ) 2018 (1) 402 Lund Rd Auburn, WA 5,900 1,991 6,873 — — 1,991 6,873 8,864 (175 ) 2018 (1) 7337 Bryan Dairy Rd Largo, FL 5,300 2,052 5,554 — — 2,052 5,554 7,606 (179 ) 2018 (1) 270 Old Silver Spring Road Mechanicsburg, PA 4,900 1,257 5,981 — — 1,257 5,981 7,238 (177 ) 2018 (1) 9045 Junction Dr Annapolis Junction, MD 4,600 1,227 5,022 — 1,110 1,227 6,132 7,359 (123 ) 2018 (1) 1811 Riverview Dr San Bernardino, CA 5,200 2,023 5,767 — — 2,023 5,767 7,790 (159 ) 2018 (1) 4780 Winchester Blvd Frederick, MD 4,500 1,008 5,549 — — 1,008 5,549 6,557 (143 ) 2018 (1) 2075-2185 Estes Ave Elk Grove Village, IL 4,800 3,150 3,193 — — 3,150 3,193 6,343 (108 ) 2018 (1) 3830 Enterprise Way Sanford, FL 4,300 1,137 5,628 — — 1,137 5,628 6,765 (158 ) 2018 (1) 1845 Airport Exchange Blvd Erlanger, KY 4,800 855 5,671 — 19 855 5,690 6,545 (156 ) 2018 (1) 2101-2107 Hutton Dr Carrollton, TX 4,800 956 5,467 — — 956 5,467 6,423 (181 ) 2018 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Acquired Depreciable Lives (1) Canyon Industrial Portfolio (continued) 13802 E 33rd Pl Aurora, CO 4,300 1,116 5,455 — — 1,116 5,455 6,571 (160 ) 2018 (1) 631 S Royal Ln Coppell, TX 4,100 799 4,848 — 894 799 5,742 6,541 (174 ) 2018 (1) 10903 S Tacoma Way Lakewood, WA 5,300 618 6,264 — — 618 6,264 6,882 (162 ) 2018 (1) 242-252 Beinoris Dr Wood Dale, IL 4,200 2,460 3,404 — — 2,460 3,404 5,864 (109 ) 2018 (1) 4204 Lindbergh Dr Addison, TX 4,600 928 5,880 — — 928 5,880 6,808 (185 ) 2018 (1) 760 Lakeside Dr Gurnee, IL 4,800 954 4,418 — 224 954 4,642 5,596 (113 ) 2018 (1) 14002 E 33rd Pl Aurora, CO 4,200 1,135 4,788 — — 1,135 4,788 5,923 (135 ) 2018 (1) 3800 Enterprise Way Sanford, FL 3,900 893 5,053 — — 893 5,053 5,946 (146 ) 2018 (1) 2700 Lord Baltimore Dr Baltimore, MD 4,400 905 4,454 — 263 905 4,717 5,622 (131 ) 2018 (1) 10350-10390 Brockwood Rd Dallas, TX 4,200 1,432 4,942 — — 1,432 4,942 6,374 (139 ) 2018 (1) 501 N Central Ave Wood Dale, IL 4,000 2,312 3,814 — — 2,312 3,814 6,126 (109 ) 2018 (1) 7144-7162 Ambassador Rd Baltimore, MD 4,200 957 4,398 — 51 957 4,449 5,406 (156 ) 2018 (1) 2175 Union Pl Simi Valley, CA 4,500 1,558 4,273 — — 1,558 4,273 5,831 (117 ) 2018 (1) 7200 Rutherford Rd Baltimore, MD 3,900 913 3,281 — — 913 3,281 4,194 (111 ) 2018 (1) 1810 Airport Exchange Blvd Erlanger, KY 3,600 798 4,821 — — 798 4,821 5,619 (142 ) 2018 (1) 1833 Riverview Dr San Bernardino, CA 3,500 1,686 3,826 — 90 1,686 3,916 5,602 (105 ) 2018 (1) 1895 Airport Exchange Blvd Erlanger, KY 3,900 628 5,117 — — 628 5,117 5,745 (148 ) 2018 (1) 4300-4320 Campbell Rd Houston, TX 3,900 1,022 3,917 — 34 1,022 3,951 4,973 (117 ) 2018 (1) 1305 Ave H E Grand Prairie, TX 4,000 1,606 3,708 — 118 1,606 3,826 5,432 (115 ) 2018 (1) 6250 NW 27th Way Fort Lauderdale, FL 2,950 1,347 3,889 — 7 1,347 3,896 5,243 (100 ) 2018 (1) 3209 Wood Dr Garland, TX 3,800 907 4,097 — — 907 4,097 5,004 (123 ) 2018 (1) 4444-4456 Campbell Rd Houston, TX 4,100 1,045 3,795 — — 1,045 3,795 4,840 (102 ) 2018 (1) 8900 Yellow Brick Rd Rosedale, MD 3,600 1,214 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, the subsidiaries and joint ventures in which it has a controlling interest. For consolidated joint ventures, the non-controlling partner’s share of the assets, liabilities and operations of the joint ventures is included in non-controlling interests as equity of the Company. The non-controlling partner’s interest is generally computed as the joint venture partner’s ownership percentage. All intercompany balances and transactions have been eliminated in consolidation. The Company consolidates partially owned entities, in which it has a controlling financial interest. In determining whether the Company has a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, the Company considers whether the entity is a variable interest entity (“VIE”) and whether it is the primary beneficiary. The Company is the primary beneficiary of a VIE when it has (i) the power to direct the most significant activities impacting the economic performance of the VIE and (ii) the obligation to absorb losses or receive benefits significant to the VIE. BREIT OP and each of the Company’s joint ventures are considered to be a VIE. The Company consolidates these entities because it has the ability to direct the most significant activities of the entities such as purchases, dispositions, financings, budgets, and overall operating plans. As of December 31, 2018, the total assets and liabilities of the Company’s consolidated VIEs, excluding BREIT OP, were $2.8 billion and $1.9 billion, respectively, compared to $947.9 million and $645.5 million as of December 31, 2017. Such amounts are included on the Company’s Consolidated Balance Sheets. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. |
Investments in Real Estate | Investments in Real Estate In accordance with the guidance for business combinations, the Company determines whether the acquisition of a property qualifies as a business combination, which requires that the assets acquired and liabilities assumed constitute a business. If the property acquired does not constitute a business, the Company accounts for the transaction as an asset acquisition. The guidance for business combinations states that when substantially all of the fair value of the gross assets to be acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the asset or set of assets is not a business. All property acquisitions to date have been accounted for as asset acquisitions. Whether the acquisition of a property acquired is considered a business combination or asset acquisition, the Company recognizes the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquired entity. In addition, for transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase. The Company expenses acquisition-related costs associated with business combinations as they are incurred. The Company capitalizes acquisition-related costs associated with asset acquisitions. Upon acquisition of a property, the Company assesses the fair value of acquired tangible and intangible assets (including land, buildings, tenant improvements, “above-market” and “below-market” leases, acquired in-place leases, other identified intangible assets and assumed liabilities) and allocates the purchase price to the acquired assets and assumed liabilities. The Company assesses and considers fair value based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as other available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company also considers an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants’ credit quality and expectations of lease renewals. Based on its acquisitions to date, the Company’s allocation to customer relationship intangible assets has not been material. The Company records acquired above-market and below-market leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be paid pursuant to each in-place lease and (2) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases. Other intangible assets acquired include amounts for in-place lease values that are based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. Intangible assets and intangible liabilities are recorded as a component of Other Assets and Accounts Payable, Accrued Expenses, and Other Liabilities, respectively, on the Company’s Consolidated Balance Sheets. The amortization of acquired above-market and below-market leases is recorded as an adjustment to Rental Revenue on the Company’s Consolidated Statements of Operations. The amortization of in-place leases is recorded as an adjustment to Depreciation and Amortization Expense on the Company’s Consolidated Statements of Operations. The amortization of below-market and pre-paid ground leases are recorded as an adjustment to Rental Property Operating or Hotel Operating Expenses, as applicable, on the Company’s Consolidated Statements of Operations. The cost of buildings and improvements includes the purchase price of the Company’s properties and any acquisition-related costs, along with any subsequent improvements to such properties. The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 40 years Building- and land improvements 10 years Furniture, fixtures and equipment 1 - 7 years Lease intangibles Over lease term Significant improvements to properties are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period. Repairs and maintenance are expensed to operations as incurred and are included in Rental Property Operating and Hotel Operating Expenses on the Company’s Consolidated Statements of Operations. The Company’s management reviews its real estate properties for impairment each quarter or when there is an event or change in circumstances that indicates an impaired value. If the carrying amount of the real estate investment is no longer recoverable and exceeds the fair value of such investment, an impairment loss is recognized. The impairment loss is recognized based on the excess of the carrying amount of the asset over its fair value. The evaluation of anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Since cash flows on real estate properties considered to be “long-lived assets to be held and used” are considered on an undiscounted basis to determine whether an asset has been impaired, the Company’s strategy of holding properties over the long term directly decreases the likelihood of recording an impairment loss. If the Company’s strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material to the Company’s results. If the Company determines that an impairment has occurred, the affected assets must be reduced to their fair value, less cost to sell. During the periods presented, no such impairment occurred. |
Investments in Real Estate-Related Securities | Investments in Real Estate-Related Securities The Company has elected to classify its investment in Real Estate-Related Securities as trading securities and carry such investments at estimated fair value. As such, the resulting gains and losses are recorded as a component of Income from Real Estate-Related Securities on the Company’s Consolidated Statements of Operations. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents represent cash held in banks, cash on hand, and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk. |
Restricted Cash | Restricted Cash As of December 31, 2018 and December 31, 2017, |
Deferred Charges | Deferred Charges The Company’s deferred charges include financing and leasing costs. Deferred financing costs include legal, structuring, and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s mortgage notes and term loans are recorded as an offset to the related liability and amortized over the term of the applicable financing instruments. Deferred financing costs related to the Company’s revolving credit facilities and affiliate line of credit are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the term of the applicable financing agreements. Deferred leasing costs incurred in connection with new leases, which consist primarily of brokerage and legal fees, are recorded as a component of Other Assets on the Company’s Consolidated Balance Sheets and amortized over the life of the related lease. |
Revenue Recognition | Revenue Recognition The Company’s sources of revenue and the related revenue recognition policies are as follows: Rental revenue — primarily consists of base rent arising from tenant leases at the Company’s industrial, multifamily, and retail properties. Rental revenue is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions. The Company begins to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased space. Tenant reimbursement income — primarily consists of amounts due from tenants for costs related to common area maintenance, real estate taxes, and other recoverable costs included in lease agreements. The Company recognizes the reimbursement of such costs incurred as tenant reimbursement income. Hotel revenue — consists of income from the Company’s hotel properties. Hotel revenue consists primarily of room revenue and food and beverage revenue. Room revenue is recognized when the related room is occupied and other hotel revenue is recognized when the service is rendered. |
Organization and Offering Costs | Organization and Offering Costs Organization costs are expensed as incurred and recorded as a component of General and Administrative Expense on the Company’s Consolidated Statements of Operations and offering costs are charged to equity as such amounts are incurred. The Adviser agreed to advance $10.2 million of certain organization and offering costs on behalf of the Company (including legal, marketing and fulfillment, regulatory, due diligence, administrative, accounting, tax, transfer agent and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through December 31, 2017. Such costs are being reimbursed to the Adviser pro rata over 60 months beginning January 1, 2018. For the year ended December 31, 2018, the Company reimbursed $2.0 million to the Adviser for such costs. Blackstone Advisory Partners L.P. (the “Dealer Manager”), a registered broker-dealer affiliated with the Adviser, serves as the dealer manager for the Offering. The Dealer Manager is entitled to receive selling commissions and dealer manager fees based on the transaction price of each applicable class of shares sold in the Offering. The Dealer Manager is also entitled to receive a stockholder servicing fee of 0.85%, 0.85% and 0.25% per annum of the aggregate net asset value (“NAV”) of the Company’s outstanding Class S shares, Class T shares, and Class D shares, respectively. There is no stockholder servicing fee with respect to Class I shares. The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2018: Class S Shares Class T Shares Class D Shares Class I Shares Selling commissions and dealer manager fees (% of transaction price) up to 3.5% up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% 0.85% 0.25% — For Class S shares sold in the primary offering, investors will pay upfront selling commissions of up to 3.5% of the transaction price. For Class T shares sold in the primary offering, investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction price. For Class D shares sold in the primary offering, investors will pay upfront selling commissions of up to 1.5% of the transaction price The Dealer Manager is entitled to receive stockholder servicing fees of 0.85% per annum of the aggregate NAV for Class S shares and Class T shares. For Class T shares such stockholder servicing fee includes, an advisor stockholder servicing fee of 0.65% per annum, and a dealer stockholder servicing fee of 0.20% per annum, of the aggregate NAV for the Class T shares, however, with respect to Class T shares sold through certain participating broker-dealers, the advisor stockholder servicing fee and the dealer stockholder servicing fee may be other amounts, provided that the sum of such fees will always equal 0.85% per annum of the NAV of such shares. For Class D shares, a stockholder servicing fee equal to 0.25% per annum of the aggregate NAV for the Class D shares. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fees and all or a portion of the stockholder servicing fees received by the Dealer Manager to such selected dealers. Through December 31, 2018, the Dealer Manager had not retained any upfront selling commissions, dealer manager, or stockholder servicing fees. |
Income Taxes | Income Taxes The Company qualified to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2017. The Company generally will not be subject to federal corporate income tax to the extent it distributes 90% of its taxable income to its stockholders. REITs are subject to a number of other organization and operational requirements. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. The Company leases its hotel investments to wholly-owned taxable REIT subsidiaries (“TRSs”). The TRSs are subject to taxation at the federal, state and local levels, as applicable. Revenues related to the hotels’ operations such as room revenue, food and beverage revenue and other revenue are recorded in the TRS along with corresponding expenses. The Company accounts for applicable income taxes by utilizing the asset and liability method. As such, the Company records deferred tax assets and liabilities for the future tax consequences resulting from the difference between the carrying value of existing assets and liabilities and their respective tax basis. A valuation allowance for deferred tax assets is provided if the Company believes all or some portion of the deferred tax asset may not be realized. During the years ended December 31, 2018 and 2017, the Company recorded a tax benefit of $0.6 million and $0.3 million, respectively, within Other Income on the Company’s Consolidated Statements of Operations. As of December 31, 2018 and 2017, the Company recorded a deferred tax asset of $1.8 million and $0.3 million, respectively, due to its hotel investments within Other Assets on the Company’s Consolidated Balance Sheets. |
Fair Value Measurements | Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Additionally, there is a hierarchal framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and the state of the marketplace, including the existence and transparency of transactions between market participants. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. As of December 31, 2018 and 2017, the Company’s $2.3 billion and $0.9 billion, respectively, of investments in Real Estate-Related Securities were classified as Level 2. Valuation The Company’s investments in Real Estate-Related Securities are reported at fair value. As of December 31, 2018 and 2017 the Company’s investments in Real Estate-Related Securities consisted of commercial mortgage-backed securities (“CMBS”), which are mortgage-related fixed income securities and corporate debt of real estate-related companies (together with CMBS, “Real Estate-Related Securities”). The Company generally determines the fair value of its Real Estate-Related Securities by utilizing third-party pricing service providers and broker-dealer quotations on the basis of last available bid price. In determining the fair value of a particular investment, pricing service providers may use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models to determine the reported price. The pricing service providers’ internal models for securities such as Real Estate-Related Securities generally consider the attributes applicable to a particular class of the security (e.g., credit rating, seniority), current market data, and estimated cash flows for each class and incorporate deal collateral performance such as prepayment speeds and default rates, as available. As of December 31, 2018, the fair value of the Company’s mortgage notes, term loans, and revolving credit facilities, repurchase agreements, and affiliate line of credit were approximately $6.9 million below carrying value. As of December 31, 2017, the fair value of the Company’s mortgage notes, term loans, and revolving credit facilities, repurchase agreements, and affiliate line of credit approximated their carrying value. Fair value of the Company’s indebtedness is estimated by modeling the cash flows required by the Company’s debt agreements and discounting them back to the present value using the appropriate discount rate. Additionally, the Company considers current market rates and conditions by evaluating similar borrowing agreements with comparable loan-to-value ratios and credit profiles. The inputs used in determining the fair value of the Company’s indebtedness are considered Level 3. |
Earnings Per Share | Earnings Per Share Basic net loss per share of common stock is determined by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. All classes of common stock are allocated net income/(loss) at the same rate per share and receive the same gross distribution per share. The restricted stock grants of Class I shares held by our directors are considered to be participating securities because they contain non-forfeitable rights to distributions. The impact of these restricted stock grants on basic and diluted earnings per common share (“EPS”) has been calculated using the two-class method whereby earnings are allocated to the restricted stock grants based on dividends declared and the restricted stocks’ participation rights in undistributed earnings. As of December 31, 2018 and 2017, the effects of the two-class method on basic and diluted EPS were not material to the Company’s consolidated financial statements. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In In February 2016, the FASB issued ASU 2016-02, “Leases.” This new guidance, along with subsequent ASUs, was effective January 1, 2019 and requires lessees to record a lease liability and a right-of-use (ROU) asset. A lessee may make an accounting policy election for leases with a term 12 months or less to not recognize a lease liability and corresponding ROU asset. Lessor accounting remains predominately unchanged. Certain of the Company’s investments in real estate are subject to ground leases, for which a lease liability and ROU asset will be recorded. The lease liability and ROU asset are initially measured at the present value of the future minimum lease payments. The Company is currently finalizing its discount rate, which is primarily based on the Company’s incremental borrowing rate and is a key component to determining the present value of the lease liability and corresponding ROU asset. The ROU assets and lease liabilities are provisional and still being evaluated by management. Based on management’s evaluation to date, the Company expects to recognize a lease liability of approximately $25.0 million to $39.0 million Additionally, the guidance allows lessors to make an accounting policy election, by class of underlying asset, to not separate non-lease components from lease components if certain requirements are met. The guidance also provides an optional transition method which would allow entities to apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to retained earnings, if necessary, and provides a package of practical expedients whereby companies are not required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification (operating vs. capital/financing leases) for any expired or existing leases and (iii) initial direct costs for any existing leases. Further, the guidance requires (i) lease-related revenues to be presented in a single line item rather than the current presentation which separates them between “rental income” and “tenant reimbursement income” on the consolidated statements of operations and (ii) bad debt expense to be presented as an adjustment to revenue rather than the current presentation within “operating expenses” on the consolidated statements of operations. For leases where the Company is the lessor, the accounting for lease components is largely unchanged from existing GAAP and the Company has elected the practical expedient to not separate non-lease components from lease components. Only incremental direct leasing costs may be capitalized under the new guidance, which will not have a material effect on the Company’s consolidated financial statements upon adoption. The Company adopted this new guidance on January 1, 2019, and elected the practical expedients. The Company expects to present income related to leases as a single line item, net of bad debt expense, on the consolidated statements of operations beginning in 2019. The guidance regarding capitalization of leasing costs did not have any effect on the Company’s consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” or ASU 2018-07. ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The guidance is intended to align the accounting for such payments to nonemployees with the existing requirements for share-based payments granted to employees. We early adopted ASU 2018-07 in the fourth quarter of 2018 and it did not have an initial material impact on our consolidated financial statements as we first issued incentive compensation awards to certain employees of the portfolio company service providers during the fourth quarter of 2018. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Summary of Useful Lives of Assets | The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 40 years Building- and land improvements 10 years Furniture, fixtures and equipment 1 - 7 years Lease intangibles Over lease term |
Summary of Selling Commissions, Dealer Manager Fees, and Stockholder Servicing Fees | The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2018: Class S Shares Class T Shares Class D Shares Class I Shares Selling commissions and dealer manager fees (% of transaction price) up to 3.5% up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% 0.85% 0.25% — |
Investments in Real Estate (Tab
Investments in Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Real Estate [Abstract] | |
Schedule of Investments in Real Estate, Net | Investments in real estate, net consisted of the following ($ in thousands): December 31, 2018 December 31, 2017 Building and building improvements $ 8,389,864 $ 2,815,348 Land and land improvements 1,961,977 574,253 Furniture, fixtures and equipment 182,418 64,080 Total 10,534,259 3,453,681 Accumulated depreciation (274,572 ) (47,126 ) Investments in real estate, net $ 10,259,687 $ 3,406,555 |
Schedule of Details of Properties Acquired | The following table provides further details of the properties acquired during the year ended December 31, 2018 ($ in thousands): Investment Ownership Interest (1) Number of Properties Location Segment Acquisition Date Purchase Price (2) Aston Multifamily Portfolio (3) 90% 8 Various Multifamily Jan. 2018 $ 141,743 Kraft Chicago Industrial Portfolio 100% 3 Aurora, IL Industrial Jan. 2018 151,365 Canyon Industrial Portfolio 100% 146 Various (4) Industrial Mar. 2018 1,837,213 The Boulevard 100% 1 Phoenix, AZ Multifamily April 2018 48,392 Highroads MH 99% 3 Phoenix, AZ Multifamily April 2018 18,637 Blue Hills Multifamily 100% 1 Boston, MA Multifamily May 2018 131,747 Wave Multifamily Portfolio 100% 6 Various (5) Multifamily May 2018 423,135 ACG III Multifamily 95% 2 Gresham, OR & Turlock, CA Multifamily May 2018 96,182 Carroll Florida Multifamily 100% 2 Jacksonville & Orlando, FL Multifamily May 2018 116,832 HP Cold Storage Industrial Portfolio 100% 6 Various (6) Industrial May 2018 253,082 Henderson Select-Service 2-Pack 100% 2 Henderson, NV Hotel May 2018 36,260 Orlando Select-Service 2-Pack 100% 2 Orlando, FL Hotel May 2018 48,862 Solis at Flamingo 95% 1 Las Vegas, NV Multifamily June 2018 72,560 Evergreen Minari MH 99% 2 Phoenix, AZ Multifamily June 2018 8,614 Southwest MH 99% 14 Various (7) Multifamily June 2018 176,194 Velaire at Aspera 100% 1 Phoenix, AZ Multifamily July 2018 64,573 Hidden Springs MH 99% 1 Desert Hot Springs, CA Multifamily July 2018 17,122 SVPAC MH 99% 2 Phoenix, AZ Multifamily July 2018 14,278 Coyote Multifamily Portfolio 100% 6 Phoenix, AZ Multifamily Aug. 2018 311,813 Corporex Select Service Portfolio 100% 5 Various (8) Hotel Aug. 2018 117,869 JW Marriott San Antonio Hill Country Resort 100% 1 San Antonio, TX Hotel Aug. 2018 604,323 Vista Center 100% 1 Miami, FL Retail Aug. 2018 34,738 EdR Student Housing Portfolio 95% 20 Various (9) Multifamily Sept. 2018 1,230,857 Royal Vegas MH 99% 1 Las Vegas, NV Multifamily Oct. 2018 8,372 Hampton Inn & Suites Federal Way 100% 1 Seattle, WA Hotel Oct. 2018 33,672 Staybridge Suites Reno 100% 1 Reno, NV Hotel Nov. 2018 17,964 Salt Lake City Select Service 3 Pack 60% 3 Salt Lake City, UT Hotel Nov. 2018 104,508 Meridian Industrial Portfolio 100% 106 Various (10) Industrial Nov. 2018 962,979 Stockton Distribution Center 100% 1 Stockton, CA Industrial Dec. 2018 94,285 Summit Industrial Portfolio 100% 8 Atlanta, GA Industrial Dec. 2018 40,463 Riverest MH 99% 1 Tavares, FL Multifamily Dec. 2018 6,165 Avanti Apartments 100% 1 Las Vegas, NV Multifamily Dec. 2018 69,008 359 $ 7,293,807 (1) Certain of the investments made by the Company provide the seller or the other partner a profits interest based on certain internal rate of return hurdles being achieved. Such investments are consolidated by the Company and any profits interest due to the other partner is reported within non-controlling interests. (2) Purchase price is inclusive of acquisition-related costs. (3) The Aston Multifamily Portfolio closed in two stages and the final eight properties closed in January 2018. The first closing in November 2017 included 12 properties. The total Aston Multifamily Portfolio is located in four markets: Austin/San Antonio, TX (47% of units), Dallas/Fort Worth, TX (21%), Nashville, TN (18%), and Louisville, KY (14%). (4) (5) The Wave Multifamily Portfolio is located in five markets: Greater Seattle, WA (29% of units), Sacramento, CA (28%), Las Vegas, NV (22%), Spokane, WA (14%), and Portland, OR (7%). (6) The HP Cold Storage Industrial Portfolio is located in four markets: Stockton, CA (52% of sq. ft.), Atlanta, GA (24%), Baltimore, MD (18%), and Austin, TX (6%). (7) Southwest MH is located in three markets: Phoenix, AZ (86% of sites), San Diego, CA (11%), and Palm Desert, CA (3%). (8) The Corporex Select Service Portfolio is located in five markets: Phoenix, AZ (24% of keys), Reno, NV (23%), Salt Lake City, UT (20%), Sonoma, CA (17%), and Tampa, FL (16%). (9) The EdR Student Housing Portfolio consists of 10,610 beds primarily concentrated at Penn State University (15% of beds), University of Arizona (10%), University of Virginia (8%), Arizona State University (8%) and Virginia Tech (8%). (10) The Meridian Industrial Portfolio consists of 106 industrial properties primarily concentrated in Memphis, TN (23% of sq. ft.), Orlando, FL (19%), Jacksonville, FL (10%), Atlanta, GA (9%), Richmond, VA (7%), and Winston-Salem, NC (7%). The following table provides details of the properties acquired during the year ended December 31, 2017 ($ in thousands): Investment Ownership Interest (1) Number of Properties Location Sector Acquisition Date Purchase Price (2) Hyatt Place UC Davis 100% 1 Davis, CA Hotel Jan. 2017 $ 32,687 Sonora Canyon Apartments 100% 1 Mesa, AZ Multifamily Feb. 2017 40,983 Stockton Industrial Park 100% 1 Stockton, CA Industrial Feb. 2017 32,751 Bakers Centre 100% 1 Philadelphia, PA Retail Mar. 2017 54,223 TA Multifamily Portfolio 100% 6 Various (3) Multifamily Apr. 2017 432,593 HS Industrial Portfolio 100% 38 Various (4) Industrial Apr. 2017 405,930 Emory Point 100% 1 Atlanta, GA Multifamily (5) May 2017 201,578 Nevada West Multifamily 100% 3 Las Vegas, NV Multifamily May 2017 170,965 Hyatt Place San Jose Downtown 100% 1 San Jose, CA Hotel June 2017 65,321 Mountain Gate & Trails Multifamily 100% 2 Las Vegas, NV Multifamily June 2017 83,572 Elysian West Multifamily 100% 1 Las Vegas, NV Multifamily July 2017 107,027 Florida Select-Service 100% 4 Tampa Hotel July 2017 58,973 Hyatt 100% 1 Atlanta, GA Hotel Aug. 2017 35,332 Harbor 5 Multifamily 100% 5 Dallas, TX Multifamily Aug. 2017 146,161 Gilbert Multifamily 90% 2 Gilbert, AZ Multifamily Sept. 2017 147,039 Domain & GreenVue Multifamily 100% 2 Dallas, TX Multifamily Sept. 2017 134,452 Fairfield Industrial Portfolio 100% 11 Fairfield, NJ Industrial Sept. 2017 74,283 ACG II Multifamily Portfolio 94% 4 Various (6) Multifamily Sept. 2017 148,038 Plaza Del Sol Retail 100% 1 Burbank, CA Retail Oct. 2017 45,898 Boston/Worcester Select-Service 3-Pack 100% 3 Boston Hotel Oct. 2017 81,762 Southeast Industrial Portfolio 100% 5 Various (7) Industrial Nov. 2017 116,487 Olympus Multifamily 95% 3 Jacksonville, FL Multifamily Nov. 2017 142,129 Aston Multifamily Portfolio 90% 12 Various (8) Multifamily Nov. 2017 381,445 Amberglen West Multifamily 100% 1 Hillsboro, OR Multifamily Nov. 2017 95,035 Talavera and Flamingo Multifamily 100% 2 Las Vegas, NV Multifamily Dec. 2017 115,427 Walden Pond & Montair Multifamily Portfolio 95% 2 Everett, WA and Thornton, CO Multifamily Dec. 2017 127,819 Signature at Kendall Multifamily 100% 1 Miami, FL Multifamily Dec. 2017 139,468 115 $ 3,617,378 (1) Certain of the investments made by the Company provide the seller or the other partner a profits interest based on certain internal rate of return hurdles being achieved. Such investments are consolidated by the Company and any profits interest due to the other partner is reported within non-controlling interests. (2) Purchase price is inclusive of acquisition-related costs. (3) The TA Multifamily Portfolio consists of a 32-floor property in downtown Orlando, FL (19% of units) and five garden style properties located in the suburbs of Palm Beach Gardens, FL (19%), Chicago, IL (19%), Orlando, FL (17%), Dallas, TX (14%), and Kansas City, KS (12%). (4) The HS Industrial Portfolio is located in six submarkets: Atlanta, GA (38% of sq. ft.), Chicago, IL (23%), Houston, TX (17%), Harrisburg, PA (10%), Dallas, TX (10%) and Orlando, FL (2%). (5) Emory Point also includes 124,000 square feet of walkable retail space. (6) The ACG II Multifamily Portfolio consists of four garden style properties in Gilbert, AZ (30% of units), Modesto, CA (25%), Olympia, WA (24%), and Flagstaff, AZ (21%). (7) The Southeast Industrial Portfolio is located in Jacksonville, FL (53% of sq. ft.), Atlanta, GA (26%), and Nashville, TN (21%). (8) The Aston Multifamily Portfolio is located in four markets: Austin/San Antonio, TX (49% of units), Dallas/Fort Worth, TX (25%), Nashville, TN (22%), and Louisville, KY (4%). |
Schedule of Purchase Price Allocation of Properties | The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2018 ($ in thousands): Canyon Industrial Portfolio EdR Student Housing Portfolio Meridian Industrial Portfolio JW Marriott San Antonio Hill Country Resort Wave Multifamily Portfolio All Other Total Building $ 1,362,916 $ 1,034,732 $ 736,302 $ 474,529 $ 323,954 $ 1,563,496 $ 5,495,929 Land and land improvements 376,762 138,249 165,881 84,218 82,686 535,141 1,382,937 Furniture, fixtures and equipment — 11,072 — 39,979 5,252 42,667 98,970 In-place lease intangibles 109,031 51,583 64,623 597 11,243 103,387 340,464 Above-market lease intangibles 8,459 — 2,862 — — 3,775 15,096 Below-market — — 793 — — — 793 Below-market lease intangibles (19,955 ) (122 ) (13,604 ) — — (13,853 ) (47,534 ) Above-market — (4,657 ) — — — — (4,657 ) Other — — 6,122 5,000 — 687 11,809 Total purchase price $ 1,837,213 $ 1,230,857 $ 962,979 $ 604,323 $ 423,135 $ 2,235,300 $ 7,293,807 Assumed mortgage notes (1) — 46,070 11,190 — — 151,220 208,480 Non-controlling interest — 12,802 — — — — 12,802 Net purchase price $ 1,837,213 $ 1,171,985 $ 951,789 $ 604,323 $ 423,135 $ 2,084,080 $ 7,072,525 (1) Refer to Note 6 for additional details on the Company’s mortgage notes. The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2017 ($ in thousands): TA Multifamily Portfolio HS Industrial Portfolio Aston Multifamily Portfolio Emory Point Nevada West All Other Total Building and building improvements $ 337,889 $ 345,391 $ 306,602 $ 171,709 $ 145,305 $ 1,501,061 $ 2,807,957 Land and land improvements 68,456 45,081 47,645 — 17,409 394,410 573,001 Furniture, fixtures and equipment 4,651 — 4,926 3,040 2,833 46,766 62,216 In-place lease intangibles 21,880 20,793 22,272 11,207 5,418 79,740 161,310 Below-market ground lease intangibles — — — — — 4,623 4,623 Above-market lease intangibles 24 2,726 — 84 — 3,836 6,670 Below-market lease intangibles (307 ) (8,061 ) — (576 ) — (6,245 ) (15,189 ) Prepaid ground lease rent — — — 16,114 — — 16,114 Other intangibles — — — — — 676 676 Total purchase price $ 432,593 $ 405,930 $ 381,445 $ 201,578 $ 170,965 $ 2,024,867 $ 3,617,378 Assumed mortgage notes (1) — — — — — 200,967 200,967 Net purchase price $ 432,593 $ 405,930 $ 381,445 $ 201,578 $ 170,965 $ 1,823,900 $ 3,416,411 (1) Refer to Note 6 for additional details on the Company’s mortgage notes. |
Intangibles (Tables)
Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Liabilities | The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2018 December 31, 2017 Intangible assets: In-place lease intangibles $ 354,261 $ 131,833 Below-market ground lease intangibles 5,415 4,623 Above-market lease intangibles 21,626 6,670 Prepaid ground lease intangibles 16,114 16,114 Other 5,676 676 Total intangible assets 403,092 159,916 Accumulated amortization: In-place lease amortization (104,745 ) (45,160 ) Below-market ground lease amortization (162 ) (85 ) Above-market lease amortization (4,903 ) (600 ) Prepaid ground lease amortization (378 ) (151 ) Other (246 ) (76 ) Total accumulated amortization (110,434 ) (46,072 ) Intangible assets, net $ 292,658 $ 113,844 Intangible liabilities: Below-market lease intangibles $ 62,199 $ 14,920 Above-market ground lease intangibles 4,657 — Total intangible liabilities 66,856 14,920 Accumulated amortization: Below-market lease amortization (11,132 ) (1,764 ) Above-market ground lease amortization (15 ) — Total accumulated amortization (11,147 ) (1,764 ) Intangible liabilities, net $ 55,709 $ 13,156 |
Estimated Future Amortization | The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2018 is as follows ($ in thousands): In-place Lease Intangibles Below-market Ground Lease Intangibles Above-market Lease Intangibles Prepaid Ground Lease Intangibles Below-market Lease Intangibles Above-market Ground Lease Intangibles 2019 $ 93,288 $ 91 $ 4,871 $ 227 $ (12,362 ) $ (54 ) 2020 49,827 91 3,954 227 (10,185 ) (54 ) 2021 37,350 91 3,407 227 (7,834 ) (54 ) 2022 25,658 91 2,336 227 (5,884 ) (54 ) 2023 15,402 91 1,018 227 (4,340 ) (54 ) Thereafter 27,991 4,798 1,137 14,601 (10,462 ) (4,372 ) $ 249,516 $ 5,253 $ 16,723 $ 15,736 $ (51,067 ) $ (4,642 ) |
Investments in Real Estate-Re_2
Investments in Real Estate-Related Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments Schedule [Abstract] | |
Summary of Investments in CMBS | The following tables detail the Company’s investments in Real Estate-Related Securities, which were exclusively CMBS with the exception of one corporate bond position ($ in thousands): December 31, 2018 Number of Positions Credit Rating (1) Collateral (2) Weighted Average Coupon (3) Weighted Average Maturity Date (4) Face Amount/ Notional (5) Cost Basis Fair Value CMBS: 38 BB Hospitality, Industrial, Multifamily, Office, Retail L+2.83% 9/4/2024 $ 941,240 $ 939,742 $ 930,411 26 BBB Hospitality, Industrial, Multifamily, Office L+2.15% 11/18/2024 578,771 576,601 571,171 21 B Hospitality, Multifamily, Office L+3.56% 9/19/2024 496,383 495,095 490,019 3 A Hospitality, Industrial, Retail L+1.81% 3/10/2023 89,165 89,184 88,358 7 Other Multifamily L+1.99% 6/13/2026 35,442 34,876 34,951 Interest Only: 2 AAA Multifamily 0.1% 3/12/2027 1,802,581 9,959 9,957 1 BBB Multifamily 0.1% 5/25/2028 225,802 1,414 1,415 1 A Multifamily 0.1% 7/25/2025 194,399 1,001 1,001 Zero Coupon: 2 Other Multifamily N/A 3/2/2027 166,793 80,892 81,875 Corporate Bond: 1 BB Hospitality 6.5% 9/15/2026 52,652 52,652 50,755 102 $ 2,281,416 $ 2,259,913 December 31, 2017 Number of Positions Credit Rating (1) Collateral (2) Weighted Average Coupon (3) Weighted Average Maturity Date (4) Face Amount/ Notional (5) Cost Basis Fair Value 15 BB Hospitality, Office, Multifamily, Retail L+3.21% 12/18/2022 $ 423,770 $ 423,658 $ 424,419 10 B Hospitality, Office, Multifamily L+4.05% 1/27/2024 284,371 284,127 285,037 9 BBB Hospitality, Office, Multifamily, Industrial, Retail L+2.28% 5/11/2022 194,013 193,838 194,549 3 Other Multifamily L+2.50% 9/15/2026 11,749 11,749 11,737 37 $ 913,372 $ 915,742 (1) AAA represents credit ratings of AAA and AAA-, A represents credit ratings of A+, A, and A-, BBB represents credit ratings of BBB+, BBB, and BBB-, BB represents credit ratings of BB+, BB, and BB-, and B represents credit ratings of B+, B, and B-. Other consists of investments that, as of December 31, 2018 and 2017, were either not ratable or have not been submitted to rating agencies. (2) Multifamily Real Estate-Related Securities are collateralized by various forms of rental housing including single-family homes and apartments. (3) The term “L” refers to the one-month U.S. dollar-denominated London Interbank Offer Rate (“LIBOR”). As of December 31, 2018 and 2017, one-month LIBOR was equal to 2.5% and 1.6%, respectively. (4) Weighted average maturity date is based on the fully extended maturity date of the underlying collateral. (5) Represents notional amount for interest only positions. |
Schedule of Company's Affiliate CMBS Positions | The following table details the Company’s affiliate CMBS positions ($ in thousands): Fair Value Interest Income Year Ended December 31, Year Ended December 31, 2018 2017 2018 2017 CMBS collateralized by properties $ 919,392 $ 561,474 $ 38,581 $ 8,917 CMBS collateralized by a loan 163,404 63,608 5,423 1,310 Total $ 1,082,796 $ 625,082 $ 44,004 $ 10,227 |
Mortgage Notes, Term Loans, a_2
Mortgage Notes, Term Loans, and Revolving Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Summary of Mortgage Notes, Term Loans, and Revolving Credit Facilities Secured by Company's Properties | The following is a summary of the mortgage notes, term loans, and revolving credit facilities secured by the Company’s properties ($ in thousands): Principal Balance Outstanding ( 3) Indebtedness Weighted Average Interest Rate ( 1) Weighted Average Maturity Date ( 2) Maximum Facility Size December 31, 2018 December 31, 2017 Fixed rate Fixed rate mortgages 4.08% 11/25/2025 N/A $ 4,782,326 $ 1,468,294 Mezzanine loan 5.85% 4/5/2025 N/A 200,000 — Total fixed rate loans 4.15% 11/16/2025 4,982,326 1,468,294 Variable rate Floating rate mortgages L+1.70% 5/20/2026 N/A 675,116 63,600 Variable rate term loans L+1.69% 12/27/2022 N/A 603,500 208,500 Variable rate revolving credit facilities L+1.73% 10/21/2022 $ 903,500 624,200 385,431 Total variable rate loans L+1.71% 2/18/2024 1,902,816 657,531 Total loans secured by the Company's properties 4.16% 5/24/2025 6,885,142 2,125,825 Deferred financing costs, net (53,546 ) (16,075 ) Premium on assumed debt, net 1,673 1,541 Mortgage notes, term loans, and revolving credit facilities, net $ 6,833,269 $ 2,111,291 (1) The term “L” refers to the one-month LIBOR. As of December 31, 2018 and 2017, one-month LIBOR was equal to 2.5% and 1.6%, respectively. (2) For loans where the Company, at its sole discretion, has extension options, the maximum maturity date has been assumed. (3) The majority of the Company’s mortgages contain yield or spread maintenance provisions. |
Summary of Future Principal Payment Due Under Company's Mortgage Notes, Term Loans, and Revolving Credit Facilities | The following table presents the future principal payments due under the Company’s mortgage notes, term loans, and revolving credit facilities as of December 31, 2018 ($ in thousands): Year Amount 2019 $ 18,050 2020 33,798 2021 177,252 2022 742,647 2023 605,900 Thereafter 5,307,495 Total $ 6,885,142 |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Repurchase Agreements [Abstract] | |
Summary of Repurchase Agreements | The following tables are a summary of the Company’s repurchase agreements ($ in thousands): December 31, 2018 Facility Weighted Average Maturity Date (1) Security Interests Collateral Assets (2) Outstanding Balance Prepayment Provisions Barclays MRA 9/29/2021 CMBS (3) $ 989,059 $ 750,000 None RBC MRA 6/18/2019 CMBS 794,917 650,018 None Citi MRA 1/13/2019 CMBS 193,372 154,736 None MS MRA 1/15/2019 CMBS 173,050 146,569 None MUFG MRA 4/30/2020 CMBS 15,266 12,400 None $ 2,165,664 $ 1,713,723 December 31, 2017 Facility Weighted Average Maturity Date (1) Security Interests Collateral Assets (2) Outstanding Balance Prepayment Provisions Citi MRA 8/23/2018 CMBS $ 694,808 $ 512,975 None RBC MRA 11/24/2018 CMBS 194,918 150,238 None BAML MRA 2/9/2018 CMBS 26,016 19,635 None $ 915,742 $ 682,848 (1) Subsequent to year end, the Company rolled its repurchase agreement contracts expiring in January 2019 into new contracts. (2) Represents the fair value of the Company’s investments in Real Estate-Related Securities that serve as collateral. (3) As of December 31, 2018, the security interests pledged under the Barclays MRA include one corporate bond. |
Other Assets and Other Liabil_2
Other Assets and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Summary of Components of Other Assets | The following table summarizes the components of other assets ($ in thousands): December 31, 2018 December 31, 2017 Real estate intangibles, net $ 292,658 $ 113,844 Receivables 45,799 7,386 Pre-acquisition costs 15,361 6,588 Prepaid expenses 10,746 3,267 Straight-line rent receivable 10,337 2,045 Deferred leasing costs, net 7,621 1,193 Deferred financing costs, net 5,822 5,248 Other 22,601 5,711 Total $ 410,945 $ 145,282 |
Summary of Components of Accounts Payable, Accrued Expenses, and Other Liabilities | The following table summarizes the components of accounts payable, accrued expenses and other liabilities ($ in thousands): December 31, 2018 December 31, 2017 Subscriptions received in advance $ 166,542 $ 107,576 Real estate taxes payable 56,555 13,169 Intangible liabilities, net 55,709 13,156 Accounts payable and accrued expenses 53,247 13,202 Prepaid rental income 29,112 5,381 Accrued interest expense 24,432 8,072 Tenant security deposits 23,493 8,107 Distribution payable 21,360 7,716 Other 33,948 6,456 Total $ 464,398 $ 182,835 |
Equity and Redeemable Non-con_2
Equity and Redeemable Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Schedule of Company's Authorized Capital | As of December 31, 2018 and 2017, the Company had authority to issue 2,100,000,000 shares, consisting of the following: Classification Number of Shares (in thousands) Par Value Preferred Stock 100,000 $ 0.01 Class S Shares 500,000 $ 0.01 Class T Shares 500,000 $ 0.01 Class D Shares 500,000 $ 0.01 Class I Shares 500,000 $ 0.01 Total 2,100,000 |
Schedule of Company's Outstanding Shares of Common Stock | The following tables detail the movement in the Company’s outstanding shares of common stock (in thousands): Class S Class T Class D Class I Total January 1, 2017 — — — 20 20 Common stock issued 128,277 5,600 3,931 30,146 167,954 Distribution reinvestment 1,834 25 24 578 2,461 Common stock repurchased (26 ) — — (41 ) (67 ) Independent directors' restricted stock grant (1) — — — 16 16 December 31, 2017 130,085 5,625 3,955 30,719 170,384 Common stock issued 142,828 17,379 26,112 77,964 264,283 Distribution reinvestment 6,266 385 434 2,394 9,479 Common stock repurchased (2,190 ) (76 ) (126 ) (2,853 ) (5,245 ) Independent directors' restricted stock grant (1) — — — 37 37 December 31, 2018 276,989 23,313 30,375 108,261 438,938 (1) The directors’ restricted stock grant represents aggregate $0.4 million and $0.1 million of the annual compensation paid to the independent directors for the years ended December 31, 2018 and 2017, respectively. The grant is amortized over the one-year service period of such grant. |
Schedule of Aggregate Distributions Declared for Applicable Class of Common Stock | The following table details the aggregate distributions declared for each applicable class of common stock: Year Ended December 31, 2018 Class S Class T Class D Class I Gross distributions declared per share of common stock $ 0.6286 $ 0.6286 $ 0.6286 $ 0.6286 Stockholder servicing fee per share of common stock (0.0917 ) (0.0902 ) (0.0267 ) — Net distributions declared per share of common stock $ 0.5369 $ 0.5384 $ 0.6019 $ 0.6286 Year Ended December 31, 2017 Class S Class T Class D Class I Gross distributions declared per share of common stock (1) $ 0.4782 $ 0.3567 $ 0.4008 $ 0.4782 Stockholder servicing fee per share of common stock (0.0823 ) (0.0511 ) (0.0173 ) — Net distributions declared per share of common stock $ 0.3959 $ 0.3056 $ 0.3835 $ 0.4782 (1) The Company did not sell any Class D or Class T shares prior to May 2017 and June 2017, respectively, thus no distributions were declared for Class D or Class T prior to such date. |
Summary of Redeemable Non-controlling Interest Activity | The following table summarizes the redeemable non-controlling interest activity for the year ended December 31, 2018 ($ in thousands): January 1, 2018 $ 250 Settlement of 2017 performance participation allocation 16,974 Repurchases (8,400 ) GAAP income allocation (1,035 ) Distributions (748 ) Fair value allocation 2,192 December 31, 2018 $ 9,233 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Summary of Components of Due to Affiliates | The following table details the components of due to affiliates ($ in thousands): December 31, 2018 December 31, 2017 Accrued stockholder servicing fee (1) $ 238,496 $ 102,076 Performance participation allocation 37,484 16,974 Advanced organization and offering costs 8,181 10,160 Accrued management fees 5,124 1,904 Accrued affiliate incentive compensation awards 4,714 — Accrued affiliate service provider expenses 3,115 1,485 Other 4,467 472 Total $ 301,581 $ 133,071 (1) The Company accrues the full amount of the future stockholder servicing fees payable to the Dealer Manager for Class S, Class T, and Class D shares up to the 8.75% of gross proceeds limit at the time such shares are sold. As of December 31, 2018 and 2017, the Company accrued $238.5 million and $102.1 million, respectively, of stockholder servicing fees payable to the Dealer Manager related to the Class S, Class T, and Class D shares sold. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fee and all or a portion of the stockholder servicing fees received by the Dealer Manager to such selected dealers. |
Schedule of Related Party Expenses Incurred and Portfolio Company Incentive Compensation Awards and Capitalized Transaction Costs | The following table details the amounts incurred for such providers during the years ended December 31, 2018 and 2017 ($ in thousands). Affiliate service provider expenses and portfolio company incentive compensation awards are included as a component of Rental Property Operating and Hotel Operating expense, as applicable, o ansaction support fees were capitalized to Investments in Real Estate on the Company’s Consolidated Balance Sheets. Affiliate Service Provider Expenses Portfolio Company Incentive Compensation Awards Capitalized Transaction Support Services For the Year Ended December 31, For the Year Ended December 31, For the Year Ended December 31, 2018 2017 2018 2017 2018 2017 LivCor $ 7,885 $ 1,279 $ 2,708 $ — $ 1,491 $ 923 Gateway 5,495 — 1,295 — 215 — ShopCore 1,334 240 71 — 252 — BRE 940 116 640 — — — EOM — 881 — — — 51 Revantage 649 — — — 9 — Total $ 16,303 $ 2,516 $ 4,714 $ — $ 1,967 $ 974 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Contractual Obligations and Commitments with Payments Due | The following table details the Company’s contractual obligations and commitments with payments due subsequent to December 31, 2018 ($ in thousands): Year Future Commitments 2019 $ 1,470 2020 1,508 2021 1,547 2022 1,586 2023 1,622 Thereafter 460,055 Total $ 467,788 |
Five Year Minimum Rental Paym_2
Five Year Minimum Rental Payments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Income | The following table presents the future minimum rents the Company expects to receive for its industrial and retail properties ($ in thousands). Leases at the Company’s multifamily investments are short term, generally 12 months or less, and are not included. Year Future Minimum Rents 2019 $ 238,043 2020 215,327 2021 185,419 2022 144,186 2023 102,609 Thereafter 285,981 Total $ 1,171,565 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Summary of Total Assets and Financial Results by Segment | The following table sets forth the total assets by segment ($ in thousands): December 31, 2018 December 31, 2017 Multifamily $ 5,396,457 $ 2,567,735 Industrial 3,966,796 636,900 Hotel 1,268,992 281,242 Retail 136,273 103,138 Real estate-related securities 2,281,033 918,975 Other (Corporate) 187,607 117,318 Total assets $ 13,237,158 $ 4,625,308 The following table sets forth the financial results by segment for the year ended December 31, 2018 ($ in thousands): Multifamily Industrial Hotel Retail Real Estate- Related Securities Total Revenues: Rental revenue $ 328,476 $ 157,970 $ — $ 8,073 $ — $ 494,519 Tenant reimbursement income 17,143 45,114 — 1,888 — 64,145 Hotel revenue — — 138,433 — — 138,433 Other revenue 22,945 578 2,485 153 — 26,161 Total revenues 368,564 203,662 140,918 10,114 — 723,258 Expenses: Rental property operating 176,800 62,824 — 3,469 — 243,093 Hotel operating — — 97,248 — — 97,248 Total expenses 176,800 62,824 97,248 3,469 — 340,341 Income from real estate-related securities — — — — 55,323 55,323 Segment net operating income $ 191,764 $ 140,838 $ 43,670 $ 6,645 $ 55,323 $ 438,240 Depreciation and amortization $ 257,201 $ 116,206 $ 27,944 $ 4,944 $ — $ 406,295 Other income (expense): General and administrative (10,982 ) Management fees (42,659 ) Performance participation allocation (37,484 ) Interest income 410 Interest expense (233,184 ) Other income (expense) 489 Net loss $ (291,465 ) Net loss attributable to non-controlling interests in third party joint ventures $ 6,188 Net loss attributable to non-controlling interests in BREIT OP $ 4,221 Net loss attributable to BREIT stockholders $ (281,056 ) The following table sets forth the financial results by segment for the year ended December 31, 2017 ($ in thousands): Multifamily Industrial Hotel Retail Real Estate- Related Securities Total Revenues: Rental revenue $ 82,846 $ 24,034 $ — $ 3,549 $ — $ 110,429 Tenant reimbursement income 3,476 6,812 — 664 — 10,952 Hotel revenue — — 29,916 — — 29,916 Other revenue 6,589 12 — 34 — 6,635 Total revenues 92,911 30,858 29,916 4,247 — 157,932 Expenses: Rental property operating 40,831 9,265 — 1,019 — 51,115 Hotel operating — — 20,417 — — 20,417 Total expenses 40,831 9,265 20,417 1,019 — 71,532 Income from real estate-related securities — — — — 17,749 17,749 Segment net operating income $ 52,080 $ 21,593 $ 9,499 $ 3,228 $ 17,749 $ 104,149 Depreciation and amortization $ 96,732 $ 17,063 $ 6,071 $ 1,927 $ — $ 121,793 Other income (expense): General and administrative (7,692 ) Management fees (8,867 ) Performance participation allocation (16,974 ) Interest income 454 Interest expense (36,884 ) Other income (expense) 57 Net loss $ (87,550 ) Net loss attributable to non-controlling interests in third party joint ventures $ 1,292 Net loss attributable to non-controlling interests in BREIT OP $ — Net loss attributable to BREIT stockholders $ (86,258 ) |
Quarterly Financial Informati_2
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | The following tables present the Company’s quarterly results ($ in thousands, except per share data): 2018 March 31 June 30 September 30 December 31 Total revenues $ 109,684 $ 152,226 $ 200,162 $ 261,186 Net loss $ (49,638 ) $ (51,944 ) $ (58,763 ) $ (131,120 ) Net loss attributable to BREIT stockholders $ (47,548 ) $ (50,482 ) $ (57,667 ) $ (125,359 ) Net loss per share $ (0.23 ) $ (0.19 ) $ (0.17 ) $ (0.30 ) 2017 March 31 June 30 September 30 December 31 Total revenues $ 2,444 $ 28,339 $ 48,904 $ 78,245 Net loss $ (1,267 ) $ (16,701 ) $ (31,847 ) $ (37,735 ) Net loss attributable to BREIT stockholders $ (1,267 ) $ (16,701 ) $ (31,725 ) $ (36,565 ) Net loss per share $ (0.03 ) $ (0.22 ) $ (0.28 ) $ (0.24 ) For the period March 2, 2016 (date of initial capitalization) through Quarter Ended Quarter Ended Quarter Ended 2016 March 31 June 30 September 30 December 31 Total revenues $ — $ — $ — $ — Net loss $ — $ — $ — $ (115 ) Net loss attributable to BREIT stockholders $ — $ — $ — $ (115 ) Net loss per share $ — $ — $ — $ (5.74 ) |
Organization and Business Pur_2
Organization and Business Purpose - Additional Information (Detail) | 12 Months Ended | 24 Months Ended |
Dec. 31, 2018USD ($)InvestmentPositionSegment | Dec. 31, 2018USD ($)InvestmentPosition | |
Organization and business activities. | ||
Date of formation | Nov. 16, 2015 | |
Common stock, shares authorized, amount | $ 5,000,000,000 | $ 5,000,000,000 |
Aggregate gross offering proceeds | $ 4,900,000,000 | |
Number of real estate investments | Investment | 58 | 58 |
Number of reportable segments | Segment | 5 | |
Real Estate-Related Securities [Member] | ||
Organization and business activities. | ||
Number of positions | Position | 102 | 102 |
IPO [Member] | ||
Organization and business activities. | ||
Common stock, shares authorized, amount | $ 4,000,000,000 | $ 4,000,000,000 |
IPO [Member] | Maximum [Member] | ||
Organization and business activities. | ||
Common stock, shares authorized, amount | 10,000,000,000 | 10,000,000,000 |
Distribution Reinvestment Plan [Member] | ||
Organization and business activities. | ||
Common stock, shares authorized, amount | 1,000,000,000 | 1,000,000,000 |
Distribution Reinvestment Plan [Member] | Maximum [Member] | ||
Organization and business activities. | ||
Common stock, shares authorized, amount | 2,000,000,000 | 2,000,000,000 |
Follow On Offering | Maximum [Member] | ||
Organization and business activities. | ||
Common stock, shares authorized, amount | $ 12,000,000,000 | $ 12,000,000,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Significant Of Accounting Policies [Line Items] | |||
Assets excluding BREIT OP | $ 2,800,000 | $ 947,900 | |
Liabilities excluding BREIT OP | 1,900,000 | 645,500 | |
Subscriptions received in advance, common stock | $ 166,500 | 107,600 | |
Percentage of taxable income distributed to stockholders | 90.00% | ||
Investments in real estate-related securities | $ 2,259,913 | 915,742 | |
Subsequent Event [Member] | Accounting Standards Update 2016-02 [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Straight line ground rent liability | $ 1,200 | ||
Subsequent Event [Member] | Accounting Standards Update 2016-02 [Member] | Above-market Lease [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Ground lease intangible liability | 4,600 | ||
Subsequent Event [Member] | Accounting Standards Update 2016-02 [Member] | Minimum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
ROU asset | 25,000 | ||
Operating lease liability | 25,000 | ||
Subsequent Event [Member] | Accounting Standards Update 2016-02 [Member] | Maximum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
ROU asset | 39,000 | ||
Operating lease liability | $ 39,000 | ||
Operating lease term | 12 months | ||
Level 2 [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Investments in real estate-related securities | 2,300,000 | 900,000 | |
Level 3 [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Mortgage notes, term loans, and revolving credit facilities, repurchase agreements, and affiliate line of credit | 6,900 | ||
Hyatt Place Uc Davis [Member] | Other Assets [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Deferred tax assets | 1,800 | 300 | |
Hyatt Place Uc Davis [Member] | Other Income [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Tax benefit | $ 600 | 300 | |
Class T Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.85% | ||
Selling commissions and dealer manager fees (% of transaction price) | 3.50% | ||
Upfront selling commissions and dealer manager fees (% of transaction price) | 3.00% | ||
Selling commissions and upfront dealer manager fees (% of transaction price) | 0.50% | ||
Advisor stockholder servicing fee (% of NAV) | 0.65% | ||
Dealer stockholder servicing fee (% of NAV) | 0.20% | ||
Class T Shares [Member] | Maximum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Selling commissions and dealer manager fees (% of transaction price) | 3.50% | ||
Class S Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.85% | ||
Selling commissions and dealer manager fees (% of transaction price) | 3.50% | ||
Class S Shares [Member] | Maximum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Selling commissions and dealer manager fees (% of transaction price) | 3.50% | ||
Class D Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.25% | ||
Selling commissions and dealer manager fees (% of transaction price) | 1.50% | ||
Class D Shares [Member] | Maximum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Selling commissions and dealer manager fees (% of transaction price) | 1.50% | ||
Class S Shares, Class D Shares and Class T Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Stockholder servicing fees accrued | $ 238,500 | 102,100 | |
Adviser [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Organizational and offering costs | $ 10,200 | ||
Period for reimbursement of advance expenses | 60 months | ||
Reimbursement of organization and offering costs | $ 2,000 | ||
Blackstone Advisory Partners L.P. [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Commission and fees, threshold percentage on gross proceeds from sale of share | 8.75% | ||
Blackstone Advisory Partners L.P. [Member] | Class T Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.85% | ||
Blackstone Advisory Partners L.P. [Member] | Class S Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.85% | ||
Blackstone Advisory Partners L.P. [Member] | Class D Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.25% | ||
Blackstone Advisory Partners L.P. [Member] | Class I Shares [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Percentage of stockholder servicing fee on NAV per annum | 0.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Useful Lives of Assets (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Real Estate Properties [Line Items] | |
Lease intangibles | Over lease term |
Building [Member] | Minimum [Member] | |
Real Estate Properties [Line Items] | |
Estimated useful life of asset | 30 years |
Building [Member] | Maximum [Member] | |
Real Estate Properties [Line Items] | |
Estimated useful life of asset | 40 years |
Building and Land Improvements [Member] | |
Real Estate Properties [Line Items] | |
Estimated useful life of asset | 10 years |
Furniture, Fixtures and Equipment [Member] | Minimum [Member] | |
Real Estate Properties [Line Items] | |
Estimated useful life of asset | 1 year |
Furniture, Fixtures and Equipment [Member] | Maximum [Member] | |
Real Estate Properties [Line Items] | |
Estimated useful life of asset | 7 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Selling Commissions, Dealer Manager Fees, and Stockholder Servicing Fees (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Class S Shares [Member] | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 3.50% |
Stockholder servicing fee (% of NAV) | 0.85% |
Class T Shares [Member] | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 3.50% |
Stockholder servicing fee (% of NAV) | 0.85% |
Class D Shares [Member] | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 1.50% |
Stockholder servicing fee (% of NAV) | 0.25% |
Maximum [Member] | Class S Shares [Member] | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 3.50% |
Maximum [Member] | Class T Shares [Member] | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 3.50% |
Maximum [Member] | Class D Shares [Member] | |
Related Party Transaction [Line Items] | |
Selling commissions and dealer manager fees (% of transaction price) | 1.50% |
Investments in Real Estate - Sc
Investments in Real Estate - Schedule of Investments in Real Estate, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Investments Schedule [Abstract] | ||
Building and building improvements | $ 8,389,864 | $ 2,815,348 |
Land and land improvements | 1,961,977 | 574,253 |
Furniture, fixtures and equipment | 182,418 | 64,080 |
Total | 10,534,259 | 3,453,681 |
Accumulated depreciation | (274,572) | (47,126) |
Investments in real estate, net | $ 10,259,687 | $ 3,406,555 |
Investments in Real Estate - Ad
Investments in Real Estate - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2018InvestmentProperty | Dec. 31, 2017InvestmentProperty | |
Real Estate Properties [Line Items] | ||
Number of real estate investments acquired | Investment | 32 | 27 |
Number of real estate properties acquired | 359 | 115 |
In-place Lease Intangibles [Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 4 years | 3 years |
Above-market Lease Intangibles [Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 5 years | 6 years |
Below-market Ground Lease Intangibles [Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 65 years | 53 years |
Below-market Lease Intangibles [Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 7 years | 6 years |
Above-Market Ground Lease Intangibles [Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 86 years | |
Prepaid Ground Lease Rent [Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 71 years | |
Other Intangibles {Member] | ||
Real Estate Properties [Line Items] | ||
Weighted-average acquired lease intangibles | 4 years | |
Industrial [Member] | ||
Real Estate Properties [Line Items] | ||
Number of real estate properties acquired | 270 | 55 |
Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Number of real estate properties acquired | 73 | 48 |
Retail [Member] | ||
Real Estate Properties [Line Items] | ||
Number of real estate properties acquired | 1 | 2 |
Hotel [Member] | ||
Real Estate Properties [Line Items] | ||
Number of real estate properties acquired | 15 | 10 |
Investments in Real Estate - _2
Investments in Real Estate - Schedule of Details of Properties Acquired (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)Property | Dec. 31, 2017USD ($)Property | |
Real Estate Properties [Line Items] | ||
Number of Properties | 359 | 115 |
Purchase Price | $ | $ 7,293,807 | $ 3,617,378 |
Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Number of Properties | 73 | 48 |
Industrial [Member] | ||
Real Estate Properties [Line Items] | ||
Number of Properties | 270 | 55 |
Hotel [Member] | ||
Real Estate Properties [Line Items] | ||
Number of Properties | 15 | 10 |
Retail [Member] | ||
Real Estate Properties [Line Items] | ||
Number of Properties | 1 | 2 |
Various [Member] | Multifamily [Member] | Aston Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 90.00% | 90.00% |
Number of Properties | 8 | 12 |
Acquisition Date | Jan. 31, 2018 | Nov. 30, 2017 |
Purchase Price | $ | $ 141,743 | $ 381,445 |
Various [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 6 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 423,135 | |
Various [Member] | Multifamily [Member] | Southwest MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 14 | |
Acquisition Date | Jun. 30, 2018 | |
Purchase Price | $ | $ 176,194 | |
Various [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 95.00% | |
Number of Properties | 20 | |
Acquisition Date | Sep. 30, 2018 | |
Purchase Price | $ | $ 1,230,857 | |
Various [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 6 | |
Acquisition Date | Apr. 30, 2017 | |
Purchase Price | $ | $ 432,593 | |
Various [Member] | Multifamily [Member] | ACG II Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 94.00% | |
Number of Properties | 4 | |
Acquisition Date | Sep. 30, 2017 | |
Purchase Price | $ | $ 148,038 | |
Various [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 146 | |
Acquisition Date | Mar. 31, 2018 | |
Purchase Price | $ | $ 1,837,213 | |
Various [Member] | Industrial [Member] | HP Cold Storage Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 6 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 253,082 | |
Various [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 106 | |
Acquisition Date | Nov. 30, 2018 | |
Purchase Price | $ | $ 962,979 | |
Various [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 38 | |
Acquisition Date | Apr. 30, 2017 | |
Purchase Price | $ | $ 405,930 | |
Various [Member] | Industrial [Member] | Southeast Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 5 | |
Acquisition Date | Nov. 30, 2017 | |
Purchase Price | $ | $ 116,487 | |
Various [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 5 | |
Acquisition Date | Aug. 31, 2018 | |
Purchase Price | $ | $ 117,869 | |
Aurora, IL [Member] | Industrial [Member] | Kraft Chicago Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 3 | |
Acquisition Date | Jan. 31, 2018 | |
Purchase Price | $ | $ 151,365 | |
Phoenix, AZ [Member] | Multifamily [Member] | The Boulevard [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Apr. 30, 2018 | |
Purchase Price | $ | $ 48,392 | |
Phoenix, AZ [Member] | Multifamily [Member] | Highroads MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 3 | |
Acquisition Date | Apr. 30, 2018 | |
Purchase Price | $ | $ 18,637 | |
Phoenix, AZ [Member] | Multifamily [Member] | Evergreen Minari MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 2 | |
Acquisition Date | Jun. 30, 2018 | |
Purchase Price | $ | $ 8,614 | |
Phoenix, AZ [Member] | Multifamily [Member] | Velaire At Aspera [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Jul. 31, 2018 | |
Purchase Price | $ | $ 64,573 | |
Phoenix, AZ [Member] | Multifamily [Member] | SVPAC MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 2 | |
Acquisition Date | Jul. 31, 2018 | |
Purchase Price | $ | $ 14,278 | |
Phoenix, AZ [Member] | Multifamily [Member] | Coyote Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 6 | |
Acquisition Date | Aug. 31, 2018 | |
Purchase Price | $ | $ 311,813 | |
Boston, MA [Member] | Multifamily [Member] | Blue Hills Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 131,747 | |
Gresham, OR & Turlock, CA [Member] | Multifamily [Member] | ACG III Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 95.00% | |
Number of Properties | 2 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 96,182 | |
Jacksonville & Orlando, FL [Member] | Multifamily [Member] | Carroll Florida Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 2 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 116,832 | |
Henderson, NV [Member] | Hotel [Member] | Henderson Select-Service 2-Pack [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 2 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 36,260 | |
Orlando, FL [Member] | Hotel [Member] | Orlando Select-Service 2-Pack [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 2 | |
Acquisition Date | May 31, 2018 | |
Purchase Price | $ | $ 48,862 | |
Las Vegas, NV [Member] | Multifamily [Member] | Solis at Flamingo [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 95.00% | |
Number of Properties | 1 | |
Acquisition Date | Jun. 30, 2018 | |
Purchase Price | $ | $ 72,560 | |
Las Vegas, NV [Member] | Multifamily [Member] | Royal Vegas, MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 1 | |
Acquisition Date | Oct. 31, 2018 | |
Purchase Price | $ | $ 8,372 | |
Las Vegas, NV [Member] | Multifamily [Member] | Avanti Apartments [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Dec. 31, 2018 | |
Purchase Price | $ | $ 69,008 | |
Las Vegas, NV [Member] | Multifamily [Member] | Nevada West Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 3 | |
Acquisition Date | May 31, 2017 | |
Purchase Price | $ | $ 170,965 | |
Las Vegas, NV [Member] | Multifamily [Member] | Mountain Gate & Trails Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 2 | |
Acquisition Date | Jun. 30, 2017 | |
Purchase Price | $ | $ 83,572 | |
Las Vegas, NV [Member] | Multifamily [Member] | Elysian West Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Jul. 31, 2017 | |
Purchase Price | $ | $ 107,027 | |
Las Vegas, NV [Member] | Multifamily [Member] | Talavera and Flamingo Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 2 | |
Acquisition Date | Dec. 31, 2017 | |
Purchase Price | $ | $ 115,427 | |
Desert Hot Springs, CA [Member] | Multifamily [Member] | Hidden Springs MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 1 | |
Acquisition Date | Jul. 31, 2018 | |
Purchase Price | $ | $ 17,122 | |
San Antonio, TX [Member] | Hotel [Member] | JW Marriott San Antonio Hill Country Resort [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Aug. 31, 2018 | |
Purchase Price | $ | $ 604,323 | |
Miami FL [Member] | Multifamily [Member] | Signature at Kendall Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Dec. 31, 2017 | |
Purchase Price | $ | $ 139,468 | |
Miami FL [Member] | Retail [Member] | Vista Center [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Aug. 31, 2018 | |
Purchase Price | $ | $ 34,738 | |
Seattle, WA [Member] | Hotel [Member] | Hampton Inn & Suites Federal Way [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Oct. 31, 2018 | |
Purchase Price | $ | $ 33,672 | |
Reno, NV [Member] | Hotel [Member] | Staybridge Suites Reno [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Nov. 30, 2018 | |
Purchase Price | $ | $ 17,964 | |
Salt Lake City, UT [Member] | Hotel [Member] | Salt Lake City Select Service 3 Pack [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 60.00% | |
Number of Properties | 3 | |
Acquisition Date | Nov. 30, 2018 | |
Purchase Price | $ | $ 104,508 | |
Stockton, CA [Member] | Industrial [Member] | Stockton Distribution Center [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Dec. 31, 2018 | |
Purchase Price | $ | $ 94,285 | |
Atlanta, GA [Member] | Industrial [Member] | Summit Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 8 | |
Acquisition Date | Dec. 31, 2018 | |
Purchase Price | $ | $ 40,463 | |
Atlanta, GA [Member] | Hotel [Member] | Hyatt House Downtown Atlanta [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Aug. 31, 2017 | |
Purchase Price | $ | $ 35,332 | |
Tavares, FL [Member] | Multifamily [Member] | Riverest MH [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 99.00% | |
Number of Properties | 1 | |
Acquisition Date | Dec. 31, 2018 | |
Purchase Price | $ | $ 6,165 | |
Davis, CA [Member] | Hotel [Member] | Hyatt Place UC Davis [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Jan. 31, 2017 | |
Purchase Price | $ | $ 32,687 | |
Mesa, AZ [Member] | Multifamily [Member] | Sonora Canyon Apartments [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Feb. 28, 2017 | |
Purchase Price | $ | $ 40,983 | |
Stockton, CA [Member] | Industrial [Member] | Stockton Industrial Park [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Feb. 28, 2017 | |
Purchase Price | $ | $ 32,751 | |
Philadelphia, PA [Member] | Retail [Member] | Bakers Centre [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Mar. 31, 2017 | |
Purchase Price | $ | $ 54,223 | |
Atlanta, GA [Member] | Multifamily [Member] | Emory Point [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | May 31, 2017 | |
Purchase Price | $ | $ 201,578 | |
San Jose, CA [Member] | Hotel [Member] | Hyatt Place San Jose Downtown [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Jun. 30, 2017 | |
Purchase Price | $ | $ 65,321 | |
Tampa & Orlando, FL [Member] | Hotel [Member] | Florida Select-Service 4-Pack [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 4 | |
Acquisition Date | Jul. 31, 2017 | |
Purchase Price | $ | $ 58,973 | |
Dallas, TX [Member] | Multifamily [Member] | Harbor 5 Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 5 | |
Acquisition Date | Aug. 31, 2017 | |
Purchase Price | $ | $ 146,161 | |
Dallas, TX [Member] | Multifamily [Member] | Domain & GreenVue Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 2 | |
Acquisition Date | Sep. 30, 2017 | |
Purchase Price | $ | $ 134,452 | |
Gilbert, AZ [Member] | Multifamily [Member] | Gilbert Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 90.00% | |
Number of Properties | 2 | |
Acquisition Date | Sep. 30, 2017 | |
Purchase Price | $ | $ 147,039 | |
Fairfield, NJ [Member] | Industrial [Member] | Fairfield Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 11 | |
Acquisition Date | Sep. 30, 2017 | |
Purchase Price | $ | $ 74,283 | |
Burbank, CA [Member] | Retail [Member] | Plaza Del Sol Retail [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Oct. 31, 2017 | |
Purchase Price | $ | $ 45,898 | |
Boston & Worcester, MA [Member] | Hotel [Member] | Boston/Worcester Select-Service 3-Pack [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 3 | |
Acquisition Date | Oct. 31, 2017 | |
Purchase Price | $ | $ 81,762 | |
Jacksonville, FL [Member] | Multifamily [Member] | Olympus Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 95.00% | |
Number of Properties | 3 | |
Acquisition Date | Nov. 30, 2017 | |
Purchase Price | $ | $ 142,129 | |
Hillsboro, OR [Member] | Multifamily [Member] | Amberglen West Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 100.00% | |
Number of Properties | 1 | |
Acquisition Date | Nov. 30, 2017 | |
Purchase Price | $ | $ 95,035 | |
Everet, WA and Thornton, CO [Member] | Multifamily [Member] | Walden Pond & Montair Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Ownership Interest | 95.00% | |
Number of Properties | 2 | |
Acquisition Date | Dec. 31, 2017 | |
Purchase Price | $ | $ 127,819 |
Investments in Real Estate - _3
Investments in Real Estate - Schedule of Details of Properties Acquired (Detail) (Parenthetical) | 1 Months Ended | |||
Jan. 31, 2018Property | Nov. 30, 2017Property | Dec. 31, 2018PropertyBed | Dec. 31, 2017ft²Property | |
Real Estate Properties [Line Items] | ||||
Number of Properties | 359 | 115 | ||
Multifamily [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 73 | 48 | ||
Multifamily [Member] | Emory Point [Member] | ||||
Real Estate Properties [Line Items] | ||||
Area of retail space | ft² | 124,000 | |||
Industrial [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 270 | 55 | ||
Hotel [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 15 | 10 | ||
Penn State University [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 15.00% | |||
University of Arizona [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 10.00% | |||
University of Virginia [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 8.00% | |||
Arizona State University [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 8.00% | |||
Virginia Tech [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 8.00% | |||
Various [Member] | Multifamily [Member] | Aston Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of properties closed | 8 | 12 | ||
Number of Properties | 8 | 12 | ||
Various [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 6 | |||
Various [Member] | Multifamily [Member] | Southwest MH [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 14 | |||
Various [Member] | Multifamily [Member] | EdR Student Housing Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 20 | |||
Number of beds | Bed | 10,610 | |||
Various [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 6 | |||
Number of floor property | 32 | |||
Number of garden style properties | 5 | |||
Various [Member] | Multifamily [Member] | ACG II Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 4 | |||
Number of garden style properties | 4 | |||
Various [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 146 | |||
Various [Member] | Industrial [Member] | HP Cold Storage Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 6 | |||
Various [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 106 | |||
Various [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 38 | |||
Various [Member] | Industrial [Member] | Southeast Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 5 | |||
Various [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Number of Properties | 5 | |||
Austin/San Antonio, TX [Member] | Multifamily [Member] | Aston Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 47.00% | 49.00% | ||
Dallas/Fort Worth, TX [Member] | Multifamily [Member] | Aston Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 21.00% | 25.00% | ||
Nashville, TN [Member] | Multifamily [Member] | Aston Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 18.00% | 22.00% | ||
Nashville, TN [Member] | Industrial [Member] | Southeast Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 21.00% | |||
Louisville, KY [Member] | Multifamily [Member] | Aston Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 14.00% | 4.00% | ||
Chicago, IL [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 19.00% | |||
Chicago, IL [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 19.00% | |||
Chicago, IL [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 23.00% | |||
Dallas, TX [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 14.00% | |||
Dallas, TX [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 15.00% | |||
Dallas, TX [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 10.00% | |||
Indianapolis, IN [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 11.00% | |||
Baltimore/Washington, D.C. [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 9.00% | |||
Columbus, OH [Member] | Industrial [Member] | Canyon Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 7.00% | |||
Greater Seattle, WA [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 29.00% | |||
Sacramento, CA [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 28.00% | |||
Las Vegas, NV [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 22.00% | |||
Spokane, WA [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 14.00% | |||
Portland, OR [Member] | Multifamily [Member] | Wave Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 7.00% | |||
Stockton, CA [Member] | Industrial [Member] | HP Cold Storage Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 52.00% | |||
Atlanta, GA [Member] | Industrial [Member] | HP Cold Storage Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 24.00% | |||
Atlanta, GA [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 9.00% | |||
Atlanta, GA [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 38.00% | |||
Atlanta, GA [Member] | Industrial [Member] | Southeast Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 26.00% | |||
Baltimore, MD [Member] | Industrial [Member] | HP Cold Storage Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 18.00% | |||
Austin, TX [Member] | Industrial [Member] | HP Cold Storage Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 6.00% | |||
Phoenix, AZ [Member] | Multifamily [Member] | Southwest MH [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 86.00% | |||
Phoenix, AZ [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 24.00% | |||
San Diego, CA [member] | Multifamily [Member] | Southwest MH [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 11.00% | |||
Palm Desert, CA [Member] | Multifamily [Member] | Southwest MH [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 3.00% | |||
Reno, NV [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 23.00% | |||
Salt Lake City, UT [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 20.00% | |||
Sonoma, CA [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 17.00% | |||
Tampa, FL [Member] | Hotel [Member] | Corporex Select Service Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 16.00% | |||
Memphis, TN [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 23.00% | |||
Orlando FL [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 19.00% | |||
Jacksonville, FL [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 10.00% | |||
Jacksonville, FL [Member] | Industrial [Member] | Southeast Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 53.00% | |||
Richmond, VA [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 7.00% | |||
Winston-Salem, NC [Member] | Industrial [Member] | Meridian Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 7.00% | |||
Downtown Orlando, FL [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 19.00% | |||
Palm Beach Gardens, FL [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 19.00% | |||
Houston, TX [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 17.00% | |||
Orlando, FL [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 17.00% | |||
Orlando, FL [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 2.00% | |||
Harrisburg, PA [Member] | Industrial [Member] | HS Industrial Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 10.00% | |||
Kansas City, KS [Member] | Multifamily [Member] | TA Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 12.00% | |||
Gilbert, AZ [Member] | Multifamily [Member] | ACG II Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 30.00% | |||
Modesto, CA [Member] | Multifamily [Member] | ACG II Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 25.00% | |||
Olympia, WA [Member] | Multifamily [Member] | ACG II Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 24.00% | |||
Flagstaff, AZ [Member] | Multifamily [Member] | ACG II Multifamily Portfolio [Member] | ||||
Real Estate Properties [Line Items] | ||||
Percentage of leased property | 21.00% |
Investments in Real Estate - _4
Investments in Real Estate - Schedule of Purchase Price Allocation of Properties (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Real Estate Properties [Line Items] | ||
Building and building improvements | $ 5,495,929 | $ 2,807,957 |
Land and land improvements | 1,382,937 | 573,001 |
Furniture, fixtures and equipment | 98,970 | 62,216 |
In-place lease intangibles | 340,464 | 161,310 |
Above-market lease intangibles | 15,096 | 6,670 |
Below-market ground lease intangible | 793 | 4,623 |
Below-market lease intangibles | (47,534) | (15,189) |
Above-market ground lease intangible | (4,657) | |
Other | 11,809 | 676 |
Total purchase price | 7,293,807 | 3,617,378 |
Assumed mortgage notes | 208,480 | 200,967 |
Non-controlling interest | 12,802 | |
Net purchase price | 7,072,525 | |
Intangible assets | 403,092 | 159,916 |
Net purchase price | 3,416,411 | |
Prepaid Ground Lease Rent [Member] | ||
Real Estate Properties [Line Items] | ||
Intangible assets | 16,114 | |
Canyon Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 1,362,916 | |
Land and land improvements | 376,762 | |
In-place lease intangibles | 109,031 | |
Above-market lease intangibles | 8,459 | |
Below-market lease intangibles | (19,955) | |
Total purchase price | 1,837,213 | |
Net purchase price | 1,837,213 | |
EdR Student Housing Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 1,034,732 | |
Land and land improvements | 138,249 | |
Furniture, fixtures and equipment | 11,072 | |
In-place lease intangibles | 51,583 | |
Below-market lease intangibles | (122) | |
Above-market ground lease intangible | (4,657) | |
Total purchase price | 1,230,857 | |
Assumed mortgage notes | 46,070 | |
Non-controlling interest | 12,802 | |
Net purchase price | 1,171,985 | |
Meridian Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 736,302 | |
Land and land improvements | 165,881 | |
In-place lease intangibles | 64,623 | |
Above-market lease intangibles | 2,862 | |
Below-market ground lease intangible | 793 | |
Below-market lease intangibles | (13,604) | |
Other | 6,122 | |
Total purchase price | 962,979 | |
Assumed mortgage notes | 11,190 | |
Net purchase price | 951,789 | |
JW Marriott San Antonio Hill Country Resort [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 474,529 | |
Land and land improvements | 84,218 | |
Furniture, fixtures and equipment | 39,979 | |
In-place lease intangibles | 597 | |
Other | 5,000 | |
Total purchase price | 604,323 | |
Net purchase price | 604,323 | |
Wave Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 323,954 | |
Land and land improvements | 82,686 | |
Furniture, fixtures and equipment | 5,252 | |
In-place lease intangibles | 11,243 | |
Total purchase price | 423,135 | |
Net purchase price | 423,135 | |
All Other [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 1,563,496 | 1,501,061 |
Land and land improvements | 535,141 | 394,410 |
Furniture, fixtures and equipment | 42,667 | 46,766 |
In-place lease intangibles | 103,387 | 79,740 |
Above-market lease intangibles | 3,775 | 3,836 |
Below-market ground lease intangible | 4,623 | |
Below-market lease intangibles | (13,853) | (6,245) |
Other | 687 | 676 |
Total purchase price | 2,235,300 | 2,024,867 |
Assumed mortgage notes | 151,220 | 200,967 |
Net purchase price | $ 2,084,080 | |
Net purchase price | 1,823,900 | |
TA Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 337,889 | |
Land and land improvements | 68,456 | |
Furniture, fixtures and equipment | 4,651 | |
In-place lease intangibles | 21,880 | |
Above-market lease intangibles | 24 | |
Below-market lease intangibles | (307) | |
Total purchase price | 432,593 | |
Net purchase price | 432,593 | |
HS Industrial Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 345,391 | |
Land and land improvements | 45,081 | |
In-place lease intangibles | 20,793 | |
Above-market lease intangibles | 2,726 | |
Below-market lease intangibles | (8,061) | |
Total purchase price | 405,930 | |
Net purchase price | 405,930 | |
Aston Multifamily Portfolio [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 306,602 | |
Land and land improvements | 47,645 | |
Furniture, fixtures and equipment | 4,926 | |
In-place lease intangibles | 22,272 | |
Total purchase price | 381,445 | |
Net purchase price | 381,445 | |
Emory Point [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 171,709 | |
Furniture, fixtures and equipment | 3,040 | |
In-place lease intangibles | 11,207 | |
Above-market lease intangibles | 84 | |
Below-market lease intangibles | (576) | |
Total purchase price | 201,578 | |
Net purchase price | 201,578 | |
Emory Point [Member] | Prepaid Ground Lease Rent [Member] | ||
Real Estate Properties [Line Items] | ||
Intangible assets | 16,114 | |
Nevada West Multifamily [Member] | ||
Real Estate Properties [Line Items] | ||
Building and building improvements | 145,305 | |
Land and land improvements | 17,409 | |
Furniture, fixtures and equipment | 2,833 | |
In-place lease intangibles | 5,418 | |
Total purchase price | 170,965 | |
Net purchase price | $ 170,965 |
Intangibles - Gross Carrying Am
Intangibles - Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Intangible assets: | ||
Total intangible assets | $ 403,092 | $ 159,916 |
Accumulated amortization: | ||
Total accumulated amortization | (110,434) | (46,072) |
Intangible assets, net | 292,658 | 113,844 |
Intangible liabilities: | ||
Below-market lease intangibles | 62,199 | 14,920 |
Above-market ground lease intangibles | 4,657 | |
Total intangible liabilities | 66,856 | 14,920 |
Accumulated amortization: | ||
Below-market lease amortization | (11,132) | (1,764) |
Above-market ground lease amortization | (15) | |
Total accumulated amortization | (11,147) | (1,764) |
Intangible liabilities, net | 55,709 | 13,156 |
In-place Lease Intangibles [Member] | ||
Intangible assets: | ||
Total intangible assets | 354,261 | 131,833 |
Accumulated amortization: | ||
Total accumulated amortization | (104,745) | (45,160) |
Intangible assets, net | 249,516 | |
Below-market Ground Lease Intangibles [Member] | ||
Intangible assets: | ||
Total intangible assets | 5,415 | 4,623 |
Accumulated amortization: | ||
Total accumulated amortization | (162) | (85) |
Intangible assets, net | 5,253 | |
Above-market Lease Intangibles [Member] | ||
Intangible assets: | ||
Total intangible assets | 21,626 | 6,670 |
Accumulated amortization: | ||
Total accumulated amortization | (4,903) | (600) |
Intangible assets, net | 16,723 | |
Prepaid Ground Lease Intangibles [Member] | ||
Intangible assets: | ||
Total intangible assets | 16,114 | 16,114 |
Accumulated amortization: | ||
Total accumulated amortization | (378) | (151) |
Intangible assets, net | 15,736 | |
Other Intangible Assets | ||
Intangible assets: | ||
Total intangible assets | 5,676 | 676 |
Accumulated amortization: | ||
Total accumulated amortization | $ (246) | $ (76) |
Intangibles - Estimated Future
Intangibles - Estimated Future Amortization (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule Of Finite Lived Intangible Assets And Liabilities [Line Items] | ||
Intangible assets, net | $ 292,658 | $ 113,844 |
Below-market Lease Intangibles, 2019 | (12,362) | |
Below-market Lease Intangibles, 2020 | (10,185) | |
Below-market Lease Intangibles, 2021 | (7,834) | |
Below-market Lease Intangibles, 2022 | (5,884) | |
Below-market Lease Intangibles, 2023 | (4,340) | |
Below-market Lease Intangibles, Thereafter | (10,462) | |
Below-market Lease Intangibles, Total | (51,067) | |
Above-market Ground Lease Intangibles, 2019 | (54) | |
Above-market Ground Lease Intangibles, 2020 | (54) | |
Above-market Ground Lease Intangibles, 2021 | (54) | |
Above-market Ground Lease Intangibles, 2022 | (54) | |
Above-market Ground Lease Intangibles, 2023 | (54) | |
Above-market Ground Lease Intangibles, Thereafter | (4,372) | |
Above-market Ground Lease Intangibles, Total | (4,642) | |
In-place Lease Intangibles [Member] | ||
Schedule Of Finite Lived Intangible Assets And Liabilities [Line Items] | ||
2019 | 93,288 | |
2020 | 49,827 | |
2021 | 37,350 | |
2022 | 25,658 | |
2023 | 15,402 | |
Thereafter | 27,991 | |
Intangible assets, net | 249,516 | |
Below-market Ground Lease Intangibles [Member] | ||
Schedule Of Finite Lived Intangible Assets And Liabilities [Line Items] | ||
2019 | 91 | |
2020 | 91 | |
2021 | 91 | |
2022 | 91 | |
2023 | 91 | |
Thereafter | 4,798 | |
Intangible assets, net | 5,253 | |
Above-market Lease Intangibles [Member] | ||
Schedule Of Finite Lived Intangible Assets And Liabilities [Line Items] | ||
2019 | 4,871 | |
2020 | 3,954 | |
2021 | 3,407 | |
2022 | 2,336 | |
2023 | 1,018 | |
Thereafter | 1,137 | |
Intangible assets, net | 16,723 | |
Prepaid Ground Lease Intangibles [Member] | ||
Schedule Of Finite Lived Intangible Assets And Liabilities [Line Items] | ||
2019 | 227 | |
2020 | 227 | |
2021 | 227 | |
2022 | 227 | |
2023 | 227 | |
Thereafter | 14,601 | |
Intangible assets, net | $ 15,736 |
Investments in Real Estate-Re_3
Investments in Real Estate-Related Securities - Summary of Investments in CMBS (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)Position | Dec. 31, 2017USD ($)Position | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Cost Basis | $ 1,082,796 | $ 625,082 |
Fair Value | 2,259,913 | $ 915,742 |
Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 37 | |
Cost Basis | $ 913,372 | |
Fair Value | $ 2,200,000 | $ 915,742 |
Corporate Bond [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 102 | |
Cost Basis | $ 2,281,416 | |
Fair Value | $ 2,259,913 | |
Multifamily [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 7 | 3 |
Weighted Average Maturity Date | Jun. 13, 2026 | Sep. 15, 2026 |
Face Amount/ Notional | $ 35,442 | $ 11,749 |
Cost Basis | 34,876 | 11,749 |
Fair Value | $ 34,951 | $ 11,737 |
Multifamily [Member] | Zero Coupon [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 2 | |
Weighted Average Maturity Date | Mar. 2, 2027 | |
Face Amount/ Notional | $ 166,793 | |
Cost Basis | 80,892 | |
Fair Value | $ 81,875 | |
Multifamily [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 1.99% | 2.50% |
BBB Credit Rating [Member] | Hospitality, Industrial, Multifamily, Office [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 26 | |
Weighted Average Maturity Date | Nov. 18, 2024 | |
Face Amount/ Notional | $ 578,771 | |
Cost Basis | 576,601 | |
Fair Value | $ 571,171 | |
BBB Credit Rating [Member] | Hospitality, Industrial, Multifamily, Office [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 2.15% | |
BBB Credit Rating [Member] | Multifamily [Member] | Interest Only [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 1 | |
Weighted Average Maturity Date | May 25, 2028 | |
Face Amount/ Notional | $ 225,802 | |
Cost Basis | 1,414 | |
Fair Value | $ 1,415 | |
BBB Credit Rating [Member] | Multifamily [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Interest Only [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 0.10% | |
BBB Credit Rating [Member] | Hospitality, Office, Multifamily, Industrial, Retail [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 9 | |
Weighted Average Maturity Date | May 11, 2022 | |
Face Amount/ Notional | $ 194,013 | |
Cost Basis | 193,838 | |
Fair Value | $ 194,549 | |
BBB Credit Rating [Member] | Hospitality, Office, Multifamily, Industrial, Retail [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 2.28% | |
B Credit Rating [Member] | Hospitality, Multifamily, Office [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 21 | |
Weighted Average Maturity Date | Sep. 19, 2024 | |
Face Amount/ Notional | $ 496,383 | |
Cost Basis | 495,095 | |
Fair Value | $ 490,019 | |
B Credit Rating [Member] | Hospitality, Multifamily, Office [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 3.56% | |
B Credit Rating [Member] | Hospitality, Office, Multifamily [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 10 | |
Weighted Average Maturity Date | Jan. 27, 2024 | |
Face Amount/ Notional | $ 284,371 | |
Cost Basis | 284,127 | |
Fair Value | $ 285,037 | |
B Credit Rating [Member] | Hospitality, Office, Multifamily [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 4.05% | |
A Credit Rating [Member] | Hospitality, Industrial, Retail [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 3 | |
Weighted Average Maturity Date | Mar. 10, 2023 | |
Face Amount/ Notional | $ 89,165 | |
Cost Basis | 89,184 | |
Fair Value | $ 88,358 | |
A Credit Rating [Member] | Hospitality, Industrial, Retail [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 1.81% | |
A Credit Rating [Member] | Multifamily [Member] | Interest Only [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 1 | |
Weighted Average Maturity Date | Jul. 25, 2025 | |
Face Amount/ Notional | $ 194,399 | |
Cost Basis | 1,001 | |
Fair Value | $ 1,001 | |
A Credit Rating [Member] | Multifamily [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Interest Only [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 0.10% | |
BB Credit Rating [Member] | Hospitality, Industrial, Multifamily, Office, Retail [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 38 | |
Weighted Average Maturity Date | Sep. 4, 2024 | |
Face Amount/ Notional | $ 941,240 | |
Cost Basis | 939,742 | |
Fair Value | $ 930,411 | |
BB Credit Rating [Member] | Hospitality, Industrial, Multifamily, Office, Retail [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 2.83% | |
BB Credit Rating [Member] | Hospitality [Member] | Corporate Bond [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 1 | |
Weighted Average Maturity Date | Sep. 15, 2026 | |
Face Amount/ Notional | $ 52,652 | |
Cost Basis | 52,652 | |
Fair Value | $ 50,755 | |
BB Credit Rating [Member] | Hospitality [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Corporate Bond [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 6.50% | |
BB Credit Rating [Member] | Hospitality, Office, Multifamily, Retail [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 15 | |
Weighted Average Maturity Date | Dec. 18, 2022 | |
Face Amount/ Notional | $ 423,770 | |
Cost Basis | 423,658 | |
Fair Value | $ 424,419 | |
BB Credit Rating [Member] | Hospitality, Office, Multifamily, Retail [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 3.21% | |
AAA Credit Rating [Member] | Multifamily [Member] | Interest Only [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Number of Positions | Position | 2 | |
Weighted Average Maturity Date | Mar. 12, 2027 | |
Face Amount/ Notional | $ 1,802,581 | |
Cost Basis | 9,959 | |
Fair Value | $ 9,957 | |
AAA Credit Rating [Member] | Multifamily [Member] | One-Month U.S. Dollar-Denominated London Interbank Offer Rate [Member] | Interest Only [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Weighted Average Coupon | 0.10% |
Investments in Real Estate-Re_4
Investments in Real Estate-Related Securities - Summary of Investments in CMBS (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Commercial Mortgage Backed Securities [Member] | One-Month LIBOR [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Investment interest rate | 2.50% | 1.60% |
Investments in Real Estate-Re_5
Investments in Real Estate-Related Securities - Schedule of Company's Affiliate CMBS Positions (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Cost Basis | $ 1,082,796 | $ 625,082 |
Interest Income | 44,004 | 10,227 |
Commercial Mortgage Backed Securities Collateralized by Properties Owned by Blackstone-advised Investment Vehicles [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Cost Basis | 919,392 | 561,474 |
Interest Income | 38,581 | 8,917 |
Commercial Mortgage Backed Securities Collateralized by Loan Originated by Blackstone-advised Investment Vehicle [Member] | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Cost Basis | 163,404 | 63,608 |
Interest Income | $ 5,423 | $ 1,310 |
Investments in Real Estate-Re_6
Investments in Real Estate-Related Securities - Additional Information (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)Security | Dec. 31, 2017USD ($) | |
Investment [Line Items] | ||
Investments in securities, cost basis | $ 1,082,796 | $ 625,082 |
Interest income recorded | 44,004 | 10,227 |
Unrealized gain (loss) on investments in real estate related securities | (24,700) | $ 2,400 |
Realized gain on CMBS investment repaid | 194 | |
Gain on securities sold | $ 7 | |
Number of real estate related securities sold | Security | 1 | |
Commercial Mortgage Backed Securities Collateralized by Pools of Commercial Real Estate Debt [Member] | ||
Investment [Line Items] | ||
Investments in securities, cost basis | $ 62,200 | |
Interest income recorded | $ 700 |
Mortgage Notes, Term Loans, a_3
Mortgage Notes, Term Loans, and Revolving Credit Facilities - Summary of Mortgage Notes, Term Loans, and Revolving Credit Facilities Secured by Company's Properties (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 4.16% | |
Principal Balance Outstanding | $ 6,885,142,000 | $ 2,125,825,000 |
Deferred financing costs, net | (53,546,000) | (16,075,000) |
Premium on assumed debt, net | 1,673,000 | 1,541,000 |
Mortgage notes, term loans, and revolving credit facilities, net | $ 6,833,269,000 | 2,111,291,000 |
Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | May 24, 2025 | |
Fixed Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Principal Balance Outstanding | $ 4,982,326,000 | 1,468,294,000 |
Fixed Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 4.15% | |
Weighted Average Maturity Date | Nov. 16, 2025 | |
Variable Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Principal Balance Outstanding | $ 1,902,816,000 | $ 657,531,000 |
Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Feb. 18, 2024 | |
One-Month LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 2.50% | 1.60% |
One-Month LIBOR [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 1.71% | |
Mortgage Notes [Member] | Fixed Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Principal Balance Outstanding | $ 4,782,326,000 | $ 1,468,294,000 |
Mortgage Notes [Member] | Fixed Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 4.08% | |
Weighted Average Maturity Date | Nov. 25, 2025 | |
Mortgage Notes [Member] | Variable Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Principal Balance Outstanding | $ 675,116,000 | 63,600,000 |
Mortgage Notes [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | May 20, 2026 | |
Mortgage Notes [Member] | One-Month LIBOR [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 1.70% | |
Mezzanine Loan [Member] | Fixed Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 5.85% | |
Principal Balance Outstanding | $ 200,000,000 | |
Mezzanine Loan [Member] | Fixed Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Apr. 5, 2025 | |
Term Loan [Member] | Variable Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Principal Balance Outstanding | $ 603,500,000 | 208,500,000 |
Term Loan [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Dec. 27, 2022 | |
Term Loan [Member] | One-Month LIBOR [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 1.69% | |
Revolving Credit Facility [Member] | Variable Rate Loans [Member] | ||
Debt Instrument [Line Items] | ||
Maximum Facility Size | $ 903,500,000 | |
Principal Balance Outstanding | $ 624,200,000 | $ 385,431,000 |
Revolving Credit Facility [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Oct. 21, 2022 | |
Revolving Credit Facility [Member] | One-Month LIBOR [Member] | Variable Rate Loans [Member] | Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Interest Rate | 1.73% |
Mortgage Notes, Term Loans, a_4
Mortgage Notes, Term Loans, and Revolving Credit Facilities - Summary of Mortgage Notes, Term Loans, and Revolving Credit Facilities Secured by Company's Properties (Parenthetical) (Details) | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Debt instrument, Interest rate | 4.16% | |
One-Month LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, Interest rate | 2.50% | 1.60% |
Mortgage Notes, Term Loans, a_5
Mortgage Notes, Term Loans, and Revolving Credit Facilities - Summary of Future Principal Payment Due Under Company's Mortgage Notes, Term Loans, and Revolving Credit Facilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
2019 | $ 18,050 | |
2020 | 33,798 | |
2021 | 177,252 | |
2022 | 742,647 | |
2023 | 605,900 | |
Thereafter | 5,307,495 | |
Total | $ 6,885,142 | $ 2,125,825 |
Repurchase Agreements - Additio
Repurchase Agreements - Additional Information (Detail) - USD ($) | Jun. 29, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | |||
Additional financing capacity secured by investments in real estate-related securities | $ 2,259,913,000 | $ 915,742,000 | |
Weighted Average Interest Rate | 3.96% | 3.11% | |
London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Weighted Average Interest Rate | 1.42% | 1.55% | |
Commercial Mortgage Backed Securities [Member] | |||
Debt Instrument [Line Items] | |||
Additional financing capacity secured by investments in real estate-related securities | $ 2,200,000,000 | $ 915,742,000 | |
Barclays MRA [Member] | |||
Debt Instrument [Line Items] | |||
Maximum facility size | $ 750,000,000 | ||
Repurchase agreements initial maturity date | Sep. 29, 2021 |
Repurchase Agreements - Summary
Repurchase Agreements - Summary of Repurchase Agreements (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||
Collateral Assets(2) | $ 2,165,664 | $ 915,742 |
Outstanding Balance | $ 1,713,723 | $ 682,848 |
Barclays MRA [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Sep. 29, 2021 | |
Security Interests | CMBS | |
Collateral Assets(2) | $ 989,059 | |
Outstanding Balance | $ 750,000 | |
Prepayment Provisions | None | |
Citi MRA [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Jan. 13, 2019 | Aug. 23, 2018 |
Security Interests | CMBS | CMBS |
Collateral Assets(2) | $ 193,372 | $ 694,808 |
Outstanding Balance | $ 154,736 | $ 512,975 |
Prepayment Provisions | None | None |
RBC MRA [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Jun. 18, 2019 | Nov. 24, 2018 |
Security Interests | CMBS | CMBS |
Collateral Assets(2) | $ 794,917 | $ 194,918 |
Outstanding Balance | $ 650,018 | $ 150,238 |
Prepayment Provisions | None | None |
MS MRA [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Jan. 15, 2019 | |
Security Interests | CMBS | |
Collateral Assets(2) | $ 173,050 | |
Outstanding Balance | $ 146,569 | |
Prepayment Provisions | None | |
MUFG MRA [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Apr. 30, 2020 | |
Security Interests | CMBS | |
Collateral Assets(2) | $ 15,266 | |
Outstanding Balance | $ 12,400 | |
Prepayment Provisions | None | |
BAML MRA [Member] | ||
Debt Instrument [Line Items] | ||
Weighted Average Maturity Date | Feb. 9, 2018 | |
Security Interests | CMBS | |
Collateral Assets(2) | $ 26,016 | |
Outstanding Balance | $ 19,635 | |
Prepayment Provisions | None |
Repurchase Agreements - Summa_2
Repurchase Agreements - Summary of Repurchase Agreements (Parenthetical) (Detail) | Dec. 31, 2018Bond |
RBC MRA [Member] | |
Debt Instrument [Line Items] | |
Number of corporate bond | 1 |
Affiliate Line of Credit - Addi
Affiliate Line of Credit - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 23, 2017 | |
Line Of Credit Facility [Line Items] | |||
Debt instrument, Interest rate | 4.16% | ||
Borrowings under line of credit including accrued interest | $ 5,374,000 | ||
One-Month LIBOR [Member] | |||
Line Of Credit Facility [Line Items] | |||
Debt instrument, Interest rate | 2.50% | 1.60% | |
Unsecured Line of Credit [Member] | |||
Line Of Credit Facility [Line Items] | |||
Line of credit | $ 250,000,000 | ||
Expiration date | Jan. 23, 2020 | ||
Borrowings under line of credit including accrued interest | $ 0 | $ 5,400,000 | |
Unsecured Line of Credit [Member] | One-Month LIBOR [Member] | |||
Line Of Credit Facility [Line Items] | |||
Interest rate | 2.25% | ||
Debt instrument, Interest rate | 2.50% | 1.60% |
Other Assets and Other Liabil_3
Other Assets and Other Liabilities - Summary of Components of Other Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Other Assets [Abstract] | ||
Real estate intangibles, net | $ 292,658 | $ 113,844 |
Receivables | 45,799 | 7,386 |
Pre-acquisition costs | 15,361 | 6,588 |
Prepaid expenses | 10,746 | 3,267 |
Straight-line rent receivable | 10,337 | 2,045 |
Deferred leasing costs, net | 7,621 | 1,193 |
Deferred financing costs, net | 5,822 | 5,248 |
Other | 22,601 | 5,711 |
Total | $ 410,945 | $ 145,282 |
Other Assets and Other Liabil_4
Other Assets and Other Liabilities - Summary of Components of Accounts Payable, Accrued Expenses, and Other Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Payables And Accruals [Abstract] | ||
Subscriptions received in advance | $ 166,542 | $ 107,576 |
Real estate taxes payable | 56,555 | 13,169 |
Intangible liabilities, net | 55,709 | 13,156 |
Accounts payable and accrued expenses | 53,247 | 13,202 |
Prepaid rental income | 29,112 | 5,381 |
Accrued interest expense | 24,432 | 8,072 |
Tenant security deposits | 23,493 | 8,107 |
Distribution payable | 21,360 | 7,716 |
Other | 33,948 | 6,456 |
Total | $ 464,398 | $ 182,835 |
Equity and Redeemable Non-con_3
Equity and Redeemable Non-controlling Interest - Additional Information (Detail) $ in Thousands | 10 Months Ended | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2018USD ($)Classshares | Dec. 31, 2017USD ($)shares | |
Equity [Line Items] | |||
Number of classes of common stock | Class | 4 | ||
Number of Shares, Authorized to issue, Total | shares | 2,100,000,000 | 2,100,000,000 | |
Common stock repurchased | shares | 5,245,304 | 66,888 | |
Common stock repurchased, value | $ 56,427 | $ 669 | |
Effective income tax rate distribution for ordinary income, percent | 3.11% | 34.15% | |
Effective income tax rate distribution for return of capital, percent | 96.89% | 65.85% | |
Ordinary income not qualified for distributions payment | 0.51% | 32.55% | |
Ordinary income qualified for distributions payment | 2.60% | 1.60% | |
Allocation adjustment amount between additional paid-in capital and redeemable non controlling interest | $ 2,192 | ||
Contributions from non-controlling interests | $ 0 | 147,593 | $ 25,586 |
BREIT OP [Member] | Class B Units [Member] | Blackstone-advised Entity [Member] | |||
Equity [Line Items] | |||
Contributions from non-controlling interests | $ 100,000 | ||
Partnership units outstanding | shares | 9,268,500 |
Equity and Redeemable Non-con_4
Equity and Redeemable Non-controlling Interest - Schedule of Company's Authorized Capital (Detail) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Class of Stock [Line Items] | ||
Preferred Stock, Number of Shares, Authorized to issue | 100,000,000 | 100,000,000 |
Number of Shares, Authorized to issue, Total | 2,100,000,000 | 2,100,000,000 |
Preferred Stock, Par Value | $ 0.01 | $ 0.01 |
Class S Shares [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Number of Shares, Authorized to issue | 500,000,000 | 500,000,000 |
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Class T Shares [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Number of Shares, Authorized to issue | 500,000,000 | 500,000,000 |
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Class D Shares [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Number of Shares, Authorized to issue | 500,000,000 | 500,000,000 |
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Class I Shares [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Number of Shares, Authorized to issue | 500,000,000 | 500,000,000 |
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Equity and Redeemable Non-con_5
Equity and Redeemable Non-controlling Interest - Schedule of Company's Outstanding Shares of Common Stock (Detail) - shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | ||
Beginning balance | 170,384,000 | 20,000 |
Common stock issued | 264,283,000 | 167,954,000 |
Distribution reinvestment | 9,479,000 | 2,461,000 |
Common stock repurchased | (5,245,304) | (66,888) |
Independent directors' restricted stock grant | 37,000 | 16,000 |
Ending balance | 438,938,000 | 170,384,000 |
Class S Shares [Member] | ||
Class of Stock [Line Items] | ||
Beginning balance | 130,085,145 | 0 |
Common stock issued | 142,828,000 | 128,277,000 |
Distribution reinvestment | 6,266,000 | 1,834,000 |
Common stock repurchased | (2,190,000) | (26,000) |
Ending balance | 276,989,019 | 130,085,145 |
Class T Shares [Member] | ||
Class of Stock [Line Items] | ||
Beginning balance | 5,624,614 | 0 |
Common stock issued | 17,379,000 | 5,600,000 |
Distribution reinvestment | 385,000 | 25,000 |
Common stock repurchased | (76,000) | |
Ending balance | 23,313,429 | 5,624,614 |
Class D Shares [Member] | ||
Class of Stock [Line Items] | ||
Beginning balance | 3,955,114 | 0 |
Common stock issued | 26,112,000 | 3,931,000 |
Distribution reinvestment | 434,000 | 24,000 |
Common stock repurchased | (126,000) | |
Ending balance | 30,375,353 | 3,955,114 |
Class I Shares [Member] | ||
Class of Stock [Line Items] | ||
Beginning balance | 30,719,160 | 20,000 |
Common stock issued | 77,964,000 | 30,146,000 |
Distribution reinvestment | 2,394,000 | 578,000 |
Common stock repurchased | (2,853,000) | (41,000) |
Independent directors' restricted stock grant | 37,000 | 16,000 |
Ending balance | 108,261,331 | 30,719,160 |
Equity and Redeemable Non-con_6
Equity and Redeemable Non-controlling Interest - Schedule of Company's Outstanding Shares of Common Stock (Parenthetical) (Detail) - Class I Shares [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | ||
Independent directors' restricted stock grant, value | $ 0.4 | $ 0.1 |
Amoritzation period of grant | 1 year |
Equity and Redeemable Non-con_7
Equity and Redeemable Non-controlling Interest - Schedule of Aggregate Distributions Declared for Applicable Class of Common Stock (Detail) - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Dividends Payable [Line Items] | ||
Gross distributions declared per share of common stock | $ 0.6286 | $ 0.4782 |
Class S Shares [Member] | ||
Dividends Payable [Line Items] | ||
Gross distributions declared per share of common stock | 0.6286 | 0.4782 |
Stockholder servicing fee per share of common stock | (0.0917) | (0.0823) |
Net distributions declared per share of common stock | 0.5369 | 0.3959 |
Class T Shares [Member] | ||
Dividends Payable [Line Items] | ||
Gross distributions declared per share of common stock | 0.6286 | 0.3567 |
Stockholder servicing fee per share of common stock | (0.0902) | (0.0511) |
Net distributions declared per share of common stock | 0.5384 | 0.3056 |
Class D Shares [Member] | ||
Dividends Payable [Line Items] | ||
Gross distributions declared per share of common stock | 0.6286 | 0.4008 |
Stockholder servicing fee per share of common stock | (0.0267) | (0.0173) |
Net distributions declared per share of common stock | 0.6019 | 0.3835 |
Class I Shares [Member] | ||
Dividends Payable [Line Items] | ||
Gross distributions declared per share of common stock | 0.6286 | 0.4782 |
Net distributions declared per share of common stock | $ 0.6286 | $ 0.4782 |
Equity and Redeemable Non-con_8
Equity and Redeemable Non-controlling Interest - Schedule of Aggregate Distributions Declared for Applicable Class of Common Stock (Parenthetical) (Detail) - USD ($) | May 31, 2017 | Apr. 30, 2017 |
Class D Shares [Member] | ||
Dividends Payable [Line Items] | ||
Number of shares sold | 0 | |
Distributions declared for shares | $ 0 | |
Class T Shares [Member] | ||
Dividends Payable [Line Items] | ||
Number of shares sold | 0 | |
Distributions declared for shares | $ 0 |
Equity and Redeemable Non-con_9
Equity and Redeemable Non-controlling Interest - Summary of Non-controlling Interest Activity (Detail) - USD ($) $ in Thousands | 10 Months Ended | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Redeemable Non-controlling Interest [Abstract] | |||
January 1, 2018 | $ 250 | ||
Settlement of 2017 performance participation allocation | $ 0 | 16,974 | $ 0 |
Repurchases | (8,400) | ||
GAAP income allocation | (1,035) | ||
Distributions | (748) | ||
Fair value allocation | 2,192 | ||
December 31, 2018 | $ 9,233 | $ 250 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) | 1 Months Ended | 10 Months Ended | 12 Months Ended | |||
Jan. 31, 2019USD ($)shares | Jun. 30, 2018USD ($)shares | Jan. 31, 2018shares | Dec. 31, 2016USD ($) | Dec. 31, 2018USD ($)Investmentshares | Dec. 31, 2017USD ($)Investmentshares | |
Related Party Transaction [Line Items] | ||||||
Management fee | $ 0 | $ 42,659,000 | $ 8,867,000 | |||
Total components due to affiliates | $ 301,581,000 | $ 133,071,000 | ||||
Stock repurchased | shares | 5,245,304 | 66,888 | ||||
Common stock repurchased, value | $ 56,427,000 | $ 669,000 | ||||
Recognized liabilities for Performance Participation expense | $ 0 | 37,484,000 | $ 16,974,000 | |||
Aggregate redeemable non- controlling interest shares and Class I units continue to own | 97,800,000 | |||||
Portfolio company incentive compensation awards | $ 4,714,000 | |||||
Class I Shares [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Stock repurchased | shares | 2,853,000 | 41,000 | ||||
Subsequent Event [Member] | Class I Shares [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Stock issued as payment for services | shares | 400,000 | |||||
Accrued Management Fee [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Total components due to affiliates | $ 5,124,000 | $ 1,904,000 | ||||
Advanced Expenses [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Total components due to affiliates | $ 1,100,000 | $ 500,000 | ||||
Adviser [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Percentage of management fee on NAV per annum | 1.25% | |||||
Common stock repurchased, value | $ 3,400,000 | |||||
Adviser [Member] | Management Fee [Member] | Class I Shares [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Stock issued as payment for services | shares | 180,215 | 3,845,338 | 664,411 | |||
Stock repurchased | shares | 1,828,163 | |||||
Common stock repurchased, value | $ 19,800,000 | |||||
Adviser [Member] | Management Fee [Member] | Subsequent Event [Member] | Class I Shares [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Stock issued as payment for services | shares | 474,552 | |||||
Adviser [Member] | Accrued Management Fee [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Total components due to affiliates | $ 5,100,000 | $ 1,900,000 | ||||
Special Limited Partner [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Percentage of annual hurdle amount | 5.00% | |||||
Related party allocation percentage of annual total return | 12.50% | |||||
Special Limited Partner [Member] | Class I Shares [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Stock issued as payment for services | shares | 1,600,000 | |||||
Stock redeemed, shares | shares | 800,000 | |||||
Stock redeemed, value | $ 8,400,000 | |||||
Special Limited Partner [Member] | Subsequent Event [Member] | Class I Shares [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Stock issued as payment for services | shares | 3,500,000 | |||||
Stock redeemed, shares | shares | 400,000 | |||||
Stock redeemed, value | $ 4,300,000 | |||||
Stock exchanged, shares | shares | 1,100,000 | |||||
All Other Unit Holders [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related party allocation percentage of annual total return | 87.50% | |||||
LNLS [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Costs paid to LNLS for title services related to investments | $ 4,600,000 | $ 1,000,000 | ||||
Number of Investments with Capitalized Costs | Investment | 16 | 13 | ||||
Affiliate of Adviser [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Internal audit and compliance functions fees incurred | $ 40,000 | $ 30,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Components of Due to Affiliates (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Related Party Transaction [Line Items] | ||
Total components due to affiliates | $ 301,581 | $ 133,071 |
Accrued Stockholder Servicing Fee [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 238,496 | 102,076 |
Performance Participation Allocation [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 37,484 | 16,974 |
Advanced Organization and Offering Costs [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 8,181 | 10,160 |
Accrued Management Fee [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 5,124 | 1,904 |
Accrued Affiliate Incentive Compensation Awards [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 4,714 | |
Accrued Affiliate Service Provider Expenses [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 3,115 | 1,485 |
Other [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | $ 4,467 | $ 472 |
Related Party Transactions - _2
Related Party Transactions - Summary of Components of Due to Affiliates (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | ||
Total components due to affiliates | $ 301,581 | $ 133,071 |
Accrued Stockholder Servicing Fee [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | 238,496 | 102,076 |
Accrued Stockholder Servicing Fee [Member] | Class S Shares, Class D Shares and Class T Shares [Member] | ||
Related Party Transaction [Line Items] | ||
Total components due to affiliates | $ 238,500 | $ 102,100 |
Blackstone Advisory Partners L.P. [Member] | ||
Related Party Transaction [Line Items] | ||
Commission and fees, threshold percentage on gross proceeds from sale of share | 8.75% |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Expenses Incurred and Portfolio Company Incentive Compensation Awards and Capitalized Transaction Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | $ 16,303 | $ 2,516 |
Portfolio Company Incentive Compensation Awards | 4,714 | |
Capitalized Transaction Support Services | 1,967 | 974 |
LivCor LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | 7,885 | 1,279 |
Portfolio Company Incentive Compensation Awards | 2,708 | |
Capitalized Transaction Support Services | 1,491 | 923 |
Gateway Industrial Properties L.L.C [Member] | ||
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | 5,495 | |
Portfolio Company Incentive Compensation Awards | 1,295 | |
Capitalized Transaction Support Services | 215 | |
ShopCore Properties TRS Management LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | 1,334 | 240 |
Portfolio Company Incentive Compensation Awards | 71 | |
Capitalized Transaction Support Services | 252 | |
BRE Hotels And Resorts LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | 940 | 116 |
Portfolio Company Incentive Compensation Awards | 640 | |
EOM [Member] | ||
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | 881 | |
Capitalized Transaction Support Services | $ 51 | |
Revantage Corporate Services, L.L.C [Member] | ||
Related Party Transaction [Line Items] | ||
Affiliate Service Provider Expenses | 649 | |
Capitalized Transaction Support Services | $ 9 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | Dec. 31, 2018Investment |
Commitments And Contingencies Disclosure [Abstract] | |
Number of real estate investments subject to ground leases | 5 |
Commitments and Contingencies_2
Commitments and Contingencies - Summary of Contractual Obligations and Commitments with Payments Due (Detail) $ in Thousands | Dec. 31, 2018USD ($) |
Commitments And Contingencies Disclosure [Abstract] | |
2019 | $ 1,470 |
2020 | 1,508 |
2021 | 1,547 |
2022 | 1,586 |
2023 | 1,622 |
Thereafter | 460,055 |
Total | $ 467,788 |
Five Year Minimum Rental Paym_3
Five Year Minimum Rental Payments - Schedule of Future Minimum Rental Income (Detail) $ in Thousands | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
2019 | $ 238,043 |
2020 | 215,327 |
2021 | 185,419 |
2022 | 144,186 |
2023 | 102,609 |
Thereafter | 285,981 |
Total | $ 1,171,565 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2018Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 5 |
Segment Reporting - Summary of
Segment Reporting - Summary of Total Assets by Segment (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Segment Reporting Information [Line Items] | ||
Total assets | $ 13,237,158 | $ 4,625,308 |
Multifamily [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 5,396,457 | 2,567,735 |
Industrial [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 3,966,796 | 636,900 |
Hotel [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 1,268,992 | 281,242 |
Retail [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 136,273 | 103,138 |
Real Estate-Related Securities [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 2,281,033 | 918,975 |
Other (Corporate) [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ 187,607 | $ 117,318 |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Financial Results by Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 10 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues: | ||||||||||||
Total revenues | $ 261,186 | $ 200,162 | $ 152,226 | $ 109,684 | $ 78,245 | $ 48,904 | $ 28,339 | $ 2,444 | $ 723,258 | $ 157,932 | ||
Expenses: | ||||||||||||
Total expenses | 340,341 | 71,532 | ||||||||||
Income from real estate-related securities | 55,323 | 17,749 | ||||||||||
Segment net operating income | 438,240 | 104,149 | ||||||||||
Depreciation and amortization | $ 0 | 406,295 | 121,793 | |||||||||
Other income (expense): | ||||||||||||
General and administrative | (115) | (10,982) | (7,692) | |||||||||
Management fees | 0 | (42,659) | (8,867) | |||||||||
Performance participation allocation | 0 | (37,484) | (16,974) | |||||||||
Interest income | 410 | 454 | ||||||||||
Interest expense | (233,184) | (36,884) | ||||||||||
Other income (expense) | 489 | 57 | ||||||||||
Net loss | (131,120) | (58,763) | (51,944) | (49,638) | (37,735) | (31,847) | (16,701) | (1,267) | $ (115) | (115) | (291,465) | (87,550) |
Net loss attributable to non-controlling interests in third party joint ventures | 6,188 | 1,292 | ||||||||||
Net loss attributable to non-controlling interests in BREIT OP | 4,221 | |||||||||||
Net loss attributable to BREIT stockholders | $ (125,359) | $ (57,667) | $ (50,482) | $ (47,548) | $ (36,565) | $ (31,725) | $ (16,701) | $ (1,267) | $ (115) | $ (115) | (281,056) | (86,258) |
Rental Property [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 494,519 | 110,429 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 243,093 | 51,115 | ||||||||||
Tenant Reimbursement Income [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 64,145 | 10,952 | ||||||||||
Hotel [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 138,433 | 29,916 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 97,248 | 20,417 | ||||||||||
Other Revenue [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 26,161 | 6,635 | ||||||||||
Multifamily [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 368,564 | 92,911 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 176,800 | 40,831 | ||||||||||
Segment net operating income | 191,764 | 52,080 | ||||||||||
Depreciation and amortization | 257,201 | 96,732 | ||||||||||
Multifamily [Member] | Rental Property [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 328,476 | 82,846 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 176,800 | 40,831 | ||||||||||
Multifamily [Member] | Tenant Reimbursement Income [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 17,143 | 3,476 | ||||||||||
Multifamily [Member] | Other Revenue [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 22,945 | 6,589 | ||||||||||
Industrial [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 203,662 | 30,858 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 62,824 | 9,265 | ||||||||||
Segment net operating income | 140,838 | 21,593 | ||||||||||
Depreciation and amortization | 116,206 | 17,063 | ||||||||||
Industrial [Member] | Rental Property [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 157,970 | 24,034 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 62,824 | 9,265 | ||||||||||
Industrial [Member] | Tenant Reimbursement Income [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 45,114 | 6,812 | ||||||||||
Industrial [Member] | Other Revenue [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 578 | 12 | ||||||||||
Hotel [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 140,918 | 29,916 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 97,248 | 20,417 | ||||||||||
Segment net operating income | 43,670 | 9,499 | ||||||||||
Depreciation and amortization | 27,944 | 6,071 | ||||||||||
Hotel [Member] | Hotel [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 138,433 | 29,916 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 97,248 | 20,417 | ||||||||||
Hotel [Member] | Other Revenue [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 2,485 | |||||||||||
Retail [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 10,114 | 4,247 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 3,469 | 1,019 | ||||||||||
Segment net operating income | 6,645 | 3,228 | ||||||||||
Depreciation and amortization | 4,944 | 1,927 | ||||||||||
Retail [Member] | Rental Property [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 8,073 | 3,549 | ||||||||||
Expenses: | ||||||||||||
Total expenses | 3,469 | 1,019 | ||||||||||
Retail [Member] | Tenant Reimbursement Income [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 1,888 | 664 | ||||||||||
Retail [Member] | Other Revenue [Member] | ||||||||||||
Revenues: | ||||||||||||
Total revenues | 153 | 34 | ||||||||||
Real Estate-Related Securities [Member] | ||||||||||||
Expenses: | ||||||||||||
Income from real estate-related securities | 55,323 | 17,749 | ||||||||||
Segment net operating income | $ 55,323 | $ 17,749 |
Quarterly Financial Informati_3
Quarterly Financial Information (Unaudited) - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 10 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||
Total revenues | $ 261,186 | $ 200,162 | $ 152,226 | $ 109,684 | $ 78,245 | $ 48,904 | $ 28,339 | $ 2,444 | $ 723,258 | $ 157,932 | ||
Net loss | (131,120) | (58,763) | (51,944) | (49,638) | (37,735) | (31,847) | (16,701) | (1,267) | $ (115) | $ (115) | (291,465) | (87,550) |
Net loss attributable to BREIT stockholders | $ (125,359) | $ (57,667) | $ (50,482) | $ (47,548) | $ (36,565) | $ (31,725) | $ (16,701) | $ (1,267) | $ (115) | $ (115) | $ (281,056) | $ (86,258) |
Net loss per share of common stock — basic and diluted | $ (0.30) | $ (0.17) | $ (0.19) | $ (0.23) | $ (0.24) | $ (0.28) | $ (0.22) | $ (0.03) | $ (5.74) | $ (5.74) | $ (0.91) | $ (0.90) |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Mar. 15, 2019USD ($)shares | Jan. 01, 2019USD ($)Transaction | Dec. 31, 2016USD ($) | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Jan. 23, 2017USD ($) |
Subsequent Event [Line Items] | ||||||
Aggregate payments to acquire real estate, exclusive of closing costs | $ | $ 0 | $ 7,005,983,000 | $ 3,393,674,000 | |||
Purchase of floating-rate CMBS | $ | 0 | 1,561,772,000 | 930,147,000 | |||
Proceeds from issuance of common stock | $ | $ 0 | $ 2,701,651,000 | $ 1,718,992,000 | |||
Class S Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 276,989,019 | 130,085,145 | ||||
Class I Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 108,261,331 | 30,719,160 | ||||
Class D Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 30,375,353 | 3,955,114 | ||||
Class T Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 23,313,429 | 5,624,614 | ||||
Unsecured Line of Credit [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of credit | $ | $ 250,000,000 | |||||
Expiration date | Jan. 23, 2020 | |||||
One-Month LIBOR [Member] | Unsecured Line of Credit [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Interest rate | 2.25% | |||||
Subsequent Event [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Aggregate payments to acquire real estate, exclusive of closing costs | $ | $ 923,800,000 | |||||
Number of separate transaction in real estate acquisition | Transaction | 3 | |||||
Common stock, shares issued | 517,213,810 | |||||
Proceeds from issuance of common stock | $ | $ 5,500,000,000 | |||||
Subsequent Event [Member] | Class S Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 322,215,005 | |||||
Subsequent Event [Member] | Class I Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 129,500,687 | |||||
Subsequent Event [Member] | Class D Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 38,209,181 | |||||
Subsequent Event [Member] | Class T Shares [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common stock, shares issued | 27,288,937 | |||||
Subsequent Event [Member] | Unsecured Line of Credit [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of credit | $ | $ 350,000,000 | |||||
Expiration date | Feb. 22, 2022 | |||||
Subsequent Event [Member] | One-Month LIBOR [Member] | Unsecured Line of Credit [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Interest rate | 2.50% | |||||
Subsequent Event [Member] | Commercial Mortgage Backed Securities [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Purchase of floating-rate CMBS | $ | $ 102,600,000 |
Real Estate and Accumulated D_2
Real Estate and Accumulated Depreciation - Schedule of Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,885,142 | |
Initial Cost, Land and Land Improvements | 1,955,967 | |
Initial Cost, Building and Building Improvements | 8,303,335 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6,010 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 86,529 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,961,977 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,389,864 | |
Total | 10,351,841 | |
Accumulated Depreciation | (257,011) | $ (44,184) |
Multifamily Properties [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | 3,636,618 | |
Initial Cost, Land and Land Improvements | 1,006,190 | |
Initial Cost, Building and Building Improvements | 4,251,635 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5,751 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 55,788 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,011,941 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,307,423 | |
Total | 5,319,364 | |
Accumulated Depreciation | (143,384) | |
Multifamily Properties [Member] | Sonora Canyon Apartments [Member] | Mesa, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | 26,455 | |
Initial Cost, Land and Land Improvements | 9,358 | |
Initial Cost, Building and Building Improvements | 30,007 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 81 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 435 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,439 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,442 | |
Total | 39,881 | |
Accumulated Depreciation | $ (2,268) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | 55 West [Member] | Orlando, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 63,600 | |
Initial Cost, Land and Land Improvements | 10,030 | |
Initial Cost, Building and Building Improvements | 97,652 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 23 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4,386 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,053 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 102,038 | |
Total | 112,091 | |
Accumulated Depreciation | $ (6,157) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Addison Keller Springs Apartments [Member] | Addison, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 36,140 | |
Initial Cost, Land and Land Improvements | 9,382 | |
Initial Cost, Building and Building Improvements | 37,786 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 42 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 675 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,424 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 38,461 | |
Total | 47,885 | |
Accumulated Depreciation | $ (2,229) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Estates at Park [Member] | Orlando, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 43,225 | |
Initial Cost, Land and Land Improvements | 11,567 | |
Initial Cost, Building and Building Improvements | 57,128 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 167 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,505 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,734 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 58,633 | |
Total | 70,367 | |
Accumulated Depreciation | $ (3,506) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | San Merano [Member] | Palm Beach Gardens, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 69,777 | |
Initial Cost, Land and Land Improvements | 24,422 | |
Initial Cost, Building and Building Improvements | 73,818 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 377 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,803 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 24,799 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 77,621 | |
Total | 102,420 | |
Accumulated Depreciation | $ (4,538) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | The Preserve at Osprey Lake [Member] | Gurnee, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 41,340 | |
Initial Cost, Land and Land Improvements | 10,899 | |
Initial Cost, Building and Building Improvements | 42,850 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 304 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,398 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,203 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 45,248 | |
Total | 56,451 | |
Accumulated Depreciation | $ (2,695) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | West End at City Center [Member] | Lenexa, KS [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,767 | |
Initial Cost, Land and Land Improvements | 2,156 | |
Initial Cost, Building and Building Improvements | 28,655 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 125 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 788 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,281 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,443 | |
Total | 31,724 | |
Accumulated Depreciation | $ (1,752) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Emory Point [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 130,000 | |
Initial Cost, Building and Building Improvements | 171,709 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 32 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,696 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 32 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 173,405 | |
Total | 173,437 | |
Accumulated Depreciation | $ (10,545) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Dream [Member] | Henderson, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 37,783 | |
Initial Cost, Land and Land Improvements | 4,745 | |
Initial Cost, Building and Building Improvements | 47,195 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 26 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 533 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,771 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,728 | |
Total | 52,499 | |
Accumulated Depreciation | $ (2,821) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | South West [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 37,487 | |
Initial Cost, Land and Land Improvements | 6,071 | |
Initial Cost, Building and Building Improvements | 46,952 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 13 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 530 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,084 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,482 | |
Total | 53,566 | |
Accumulated Depreciation | $ (2,836) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Union [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 46,110 | |
Initial Cost, Land and Land Improvements | 6,593 | |
Initial Cost, Building and Building Improvements | 51,158 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 662 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,594 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 51,820 | |
Total | 58,414 | |
Accumulated Depreciation | $ (3,026) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Mountain Gate [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 33,704 | |
Initial Cost, Land and Land Improvements | 6,632 | |
Initial Cost, Building and Building Improvements | 37,909 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 95 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 933 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,727 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 38,842 | |
Total | 45,569 | |
Accumulated Depreciation | $ (2,081) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Mountain Trails [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 26,281 | |
Initial Cost, Land and Land Improvements | 5,569 | |
Initial Cost, Building and Building Improvements | 29,208 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 90 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 977 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,659 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,185 | |
Total | 35,844 | |
Accumulated Depreciation | $ (1,662) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Elysian West Multifamily [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 75,400 | |
Initial Cost, Land and Land Improvements | 17,565 | |
Initial Cost, Building and Building Improvements | 80,840 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 145 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 184 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,710 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 81,024 | |
Total | 98,734 | |
Accumulated Depreciation | $ (4,656) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Redstone at SanTan Village [Member] | Gilbert, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 40,484 | |
Initial Cost, Land and Land Improvements | 16,491 | |
Initial Cost, Building and Building Improvements | 53,056 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 25 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 54 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,516 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 53,110 | |
Total | 69,626 | |
Accumulated Depreciation | $ (2,563) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Vistara at SanTan Village [Member] | Gilbert, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 48,129 | |
Initial Cost, Land and Land Improvements | 15,574 | |
Initial Cost, Building and Building Improvements | 54,663 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 7 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,581 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 54,671 | |
Total | 70,252 | |
Accumulated Depreciation | $ (2,507) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Abbey at Vista Ridge [Member] | Lewisville, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 32,338 | |
Initial Cost, Land and Land Improvements | 6,903 | |
Initial Cost, Building and Building Improvements | 36,616 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 85 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 766 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,988 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,382 | |
Total | 44,370 | |
Accumulated Depreciation | $ (1,841) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Fieldcrest [Member] | Carrollton, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,860 | |
Initial Cost, Land and Land Improvements | 4,507 | |
Initial Cost, Building and Building Improvements | 13,216 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 253 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,390 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,760 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,606 | |
Total | 19,366 | |
Accumulated Depreciation | $ (790) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Tall Timbers [Member] | Euless, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,990 | |
Initial Cost, Land and Land Improvements | 4,873 | |
Initial Cost, Building and Building Improvements | 18,919 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 163 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,152 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,036 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,071 | |
Total | 25,107 | |
Accumulated Depreciation | $ (1,017) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | The Tallows [Member] | Carrollton, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,510 | |
Initial Cost, Land and Land Improvements | 6,053 | |
Initial Cost, Building and Building Improvements | 20,934 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 60 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,669 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,113 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,603 | |
Total | 28,716 | |
Accumulated Depreciation | $ (1,102) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Villas at Waterchase [Member] | Lewisville, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 18,573 | |
Initial Cost, Land and Land Improvements | 5,693 | |
Initial Cost, Building and Building Improvements | 18,762 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 249 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 458 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,942 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,220 | |
Total | 25,162 | |
Accumulated Depreciation | $ (953) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Domain at Midtown Park [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 47,600 | |
Initial Cost, Land and Land Improvements | 16,678 | |
Initial Cost, Building and Building Improvements | 47,939 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 7 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 114 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,685 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 48,053 | |
Total | 64,738 | |
Accumulated Depreciation | $ (2,233) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | GreenVue [Member] | Richardson, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,900 | |
Initial Cost, Land and Land Improvements | 11,754 | |
Initial Cost, Building and Building Improvements | 49,788 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 53 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 73 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,807 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 49,861 | |
Total | 61,668 | |
Accumulated Depreciation | $ (2,269) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Brooks Landing [Member] | Modesto, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 24,500 | |
Initial Cost, Land and Land Improvements | 2,740 | |
Initial Cost, Building and Building Improvements | 33,738 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 65 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 800 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,805 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 34,538 | |
Total | 37,343 | |
Accumulated Depreciation | $ (1,506) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Sterling Pointe [Member] | Flagstaff, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 18,672 | |
Initial Cost, Land and Land Improvements | 3,344 | |
Initial Cost, Building and Building Improvements | 30,331 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 58 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 598 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,402 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,929 | |
Total | 34,331 | |
Accumulated Depreciation | $ (1,367) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Woodland [Member] | Olympia, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,485 | |
Initial Cost, Land and Land Improvements | 3,940 | |
Initial Cost, Building and Building Improvements | 27,206 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 419 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,945 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 27,625 | |
Total | 31,570 | |
Accumulated Depreciation | $ (1,346) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Highlands [Member] | Gilbert, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 27,715 | |
Initial Cost, Land and Land Improvements | 10,679 | |
Initial Cost, Building and Building Improvements | 28,170 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 64 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 938 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,743 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,108 | |
Total | 39,851 | |
Accumulated Depreciation | $ (1,258) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Cape House [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 44,594 | |
Initial Cost, Land and Land Improvements | 11,548 | |
Initial Cost, Building and Building Improvements | 55,009 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 328 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,517 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,876 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 57,526 | |
Total | 69,402 | |
Accumulated Depreciation | $ (2,367) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Mirador at River City [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,250 | |
Initial Cost, Land and Land Improvements | 4,034 | |
Initial Cost, Building and Building Improvements | 28,288 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 12 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 559 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,046 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 28,847 | |
Total | 32,893 | |
Accumulated Depreciation | $ (1,165) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Stovall at River City [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,215 | |
Initial Cost, Land and Land Improvements | 3,996 | |
Initial Cost, Building and Building Improvements | 29,314 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 23 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 580 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,019 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,894 | |
Total | 33,913 | |
Accumulated Depreciation | $ (1,200) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Ashley Oaks [Member] | San Antonio, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 27,202 | |
Initial Cost, Land and Land Improvements | 7,940 | |
Initial Cost, Building and Building Improvements | 26,929 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 53 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,407 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,993 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 29,336 | |
Total | 37,329 | |
Accumulated Depreciation | $ (1,270) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Audubon Park [Member] | Nashville, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,987 | |
Initial Cost, Land and Land Improvements | 3,934 | |
Initial Cost, Building and Building Improvements | 20,178 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 414 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,316 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,348 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,494 | |
Total | 25,842 | |
Accumulated Depreciation | $ (890) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Belmont [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,503 | |
Initial Cost, Land and Land Improvements | 3,535 | |
Initial Cost, Building and Building Improvements | 18,145 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 183 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 961 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,718 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,106 | |
Total | 22,824 | |
Accumulated Depreciation | $ (781) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Cantare at Indian Lake Village [Member] | Sumner, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,357 | |
Initial Cost, Land and Land Improvements | 2,236 | |
Initial Cost, Building and Building Improvements | 32,572 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 83 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,236 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 32,655 | |
Total | 34,891 | |
Accumulated Depreciation | $ (1,277) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Cooper Creek [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,352 | |
Initial Cost, Land and Land Improvements | 1,292 | |
Initial Cost, Building and Building Improvements | 11,092 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 20 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 674 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,312 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,766 | |
Total | 13,078 | |
Accumulated Depreciation | $ (474) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Grayson Ridge [Member] | North Richland Hills, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,277 | |
Initial Cost, Land and Land Improvements | 3,587 | |
Initial Cost, Building and Building Improvements | 18,136 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 112 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,699 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,136 | |
Total | 21,835 | |
Accumulated Depreciation | $ (738) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Landing at Mansfield [Member] | Mansfield, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 26,013 | |
Initial Cost, Land and Land Improvements | 3,833 | |
Initial Cost, Building and Building Improvements | 33,054 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 6 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,091 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,839 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 34,145 | |
Total | 37,984 | |
Accumulated Depreciation | $ (1,393) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Meritage at Steiner Ranch [Member] | Austin, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 49,733 | |
Initial Cost, Land and Land Improvements | 8,422 | |
Initial Cost, Building and Building Improvements | 52,899 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 44 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,058 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,466 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 53,957 | |
Total | 62,423 | |
Accumulated Depreciation | $ (2,156) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Montelena [Member] | Round Rock, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,502 | |
Initial Cost, Land and Land Improvements | 3,875 | |
Initial Cost, Building and Building Improvements | 25,462 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 64 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 721 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,939 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,183 | |
Total | 30,122 | |
Accumulated Depreciation | $ (1,045) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Richland Falls [Member] | Murfreesboro, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 24,457 | |
Initial Cost, Land and Land Improvements | 2,690 | |
Initial Cost, Building and Building Improvements | 30,046 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 15 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 348 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,705 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,394 | |
Total | 33,099 | |
Accumulated Depreciation | $ (1,194) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Rosemont at Olmos Park [Member] | San Antonio, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,308 | |
Initial Cost, Land and Land Improvements | 2,468 | |
Initial Cost, Building and Building Improvements | 14,831 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 477 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,472 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,308 | |
Total | 17,780 | |
Accumulated Depreciation | $ (606) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Trails at Buda Ranch [Member] | Buda, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,704 | |
Initial Cost, Land and Land Improvements | 3,832 | |
Initial Cost, Building and Building Improvements | 23,258 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 81 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 262 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,913 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 23,520 | |
Total | 27,433 | |
Accumulated Depreciation | $ (1,005) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Fairmarc (Hills at Fair Oaks) [Member] | Fair Oaks Ranch, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,056 | |
Initial Cost, Land and Land Improvements | 4,697 | |
Initial Cost, Building and Building Improvements | 28,212 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 128 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,701 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 28,340 | |
Total | 33,041 | |
Accumulated Depreciation | $ (923) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Springmarc [Member] | San Marcos, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,936 | |
Initial Cost, Land and Land Improvements | 3,147 | |
Initial Cost, Building and Building Improvements | 21,147 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 90 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 242 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,237 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,389 | |
Total | 24,626 | |
Accumulated Depreciation | $ (737) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Renaissance St. Andrews [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,238 | |
Initial Cost, Land and Land Improvements | 2,205 | |
Initial Cost, Building and Building Improvements | 13,227 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 59 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 800 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,264 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,027 | |
Total | 16,291 | |
Accumulated Depreciation | $ (465) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Valley Farms North (fka Southpointe) [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,952 | |
Initial Cost, Land and Land Improvements | 2,118 | |
Initial Cost, Building and Building Improvements | 14,118 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,123 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,157 | |
Total | 16,280 | |
Accumulated Depreciation | $ (449) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Valley Farms [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,285 | |
Initial Cost, Land and Land Improvements | 1,682 | |
Initial Cost, Building and Building Improvements | 12,500 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 330 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,682 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,830 | |
Total | 14,512 | |
Accumulated Depreciation | $ (408) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Keystone Farms [Member] | Nashville, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,623 | |
Initial Cost, Land and Land Improvements | 1,795 | |
Initial Cost, Building and Building Improvements | 12,033 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 41 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 201 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,836 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,234 | |
Total | 14,070 | |
Accumulated Depreciation | $ (399) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Arbors of Carrollton [Member] | Carrollton, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,680 | |
Initial Cost, Land and Land Improvements | 3,393 | |
Initial Cost, Building and Building Improvements | 9,871 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 62 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 653 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,455 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,524 | |
Total | 13,979 | |
Accumulated Depreciation | $ (361) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | RSA Condos [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 295 | |
Initial Cost, Building and Building Improvements | 1,927 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 296 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,933 | |
Total | 2,229 | |
Accumulated Depreciation | $ (64) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Amberglen West Multifamily [Member] | Hillsboro, OR [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 58,600 | |
Initial Cost, Land and Land Improvements | 9,176 | |
Initial Cost, Building and Building Improvements | 81,990 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,176 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 81,999 | |
Total | 91,175 | |
Accumulated Depreciation | $ (3,135) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Talavera [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 33,897 | |
Initial Cost, Land and Land Improvements | 14,801 | |
Initial Cost, Building and Building Improvements | 46,622 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 45 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 696 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,846 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,318 | |
Total | 62,164 | |
Accumulated Depreciation | $ (2,015) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Flamingo [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 41,177 | |
Initial Cost, Land and Land Improvements | 14,447 | |
Initial Cost, Building and Building Improvements | 34,871 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 85 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 540 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,532 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 35,411 | |
Total | 49,943 | |
Accumulated Depreciation | $ (1,538) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Walden Pond [Member] | Thornton, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 47,705 | |
Initial Cost, Land and Land Improvements | 9,711 | |
Initial Cost, Building and Building Improvements | 47,052 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 81 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,325 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,792 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 48,377 | |
Total | 58,169 | |
Accumulated Depreciation | $ (2,108) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Montair [Member] | Everett, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 44,325 | |
Initial Cost, Land and Land Improvements | 19,105 | |
Initial Cost, Building and Building Improvements | 46,552 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 74 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,128 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,179 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,680 | |
Total | 66,859 | |
Accumulated Depreciation | $ (1,830) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | Signature at Kendall Multifamily [Member] | Miami, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 88,700 | |
Initial Cost, Land and Land Improvements | 28,419 | |
Initial Cost, Building and Building Improvements | 103,131 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 269 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 70 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 28,688 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 103,201 | |
Total | 131,889 | |
Accumulated Depreciation | $ (4,316) | |
Year Acquired | 2017 | |
Multifamily Properties [Member] | The Boulevard [Member] | Phoenix, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 29,728 | |
Initial Cost, Land and Land Improvements | 8,738 | |
Initial Cost, Building and Building Improvements | 37,766 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 23 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 535 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,761 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 38,301 | |
Total | 47,062 | |
Accumulated Depreciation | $ (1,107) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Blue Hills Multifamily [Member] | Randolph, MA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 86,191 | |
Initial Cost, Land and Land Improvements | 16,236 | |
Initial Cost, Building and Building Improvements | 108,066 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 121 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 268 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,357 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 108,334 | |
Total | 124,691 | |
Accumulated Depreciation | $ (2,396) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Slate Creek [Member] | Sacramento, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 99,990 | |
Initial Cost, Land and Land Improvements | 19,204 | |
Initial Cost, Building and Building Improvements | 124,316 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 32 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,236 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 124,355 | |
Total | 143,591 | |
Accumulated Depreciation | $ (3,049) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Montair Wave [Member] | Tumwater, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 53,049 | |
Initial Cost, Land and Land Improvements | 16,515 | |
Initial Cost, Building and Building Improvements | 57,382 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 61 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 614 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,576 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 57,996 | |
Total | 74,572 | |
Accumulated Depreciation | $ (1,595) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Xander 3900 [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 46,940 | |
Initial Cost, Land and Land Improvements | 23,755 | |
Initial Cost, Building and Building Improvements | 43,057 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 11 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 154 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 23,766 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 43,211 | |
Total | 66,977 | |
Accumulated Depreciation | $ (1,216) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Stonepointe [Member] | University Place, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 32,672 | |
Initial Cost, Land and Land Improvements | 9,427 | |
Initial Cost, Building and Building Improvements | 37,072 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 25 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 331 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,452 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,403 | |
Total | 46,855 | |
Accumulated Depreciation | $ (923) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Heatherbrae [Member] | Milwaukie, OR [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 26,835 | |
Initial Cost, Land and Land Improvements | 8,306 | |
Initial Cost, Building and Building Improvements | 30,319 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 66 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 261 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,372 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,580 | |
Total | 38,952 | |
Accumulated Depreciation | $ (788) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Big Trout Lodge [Member] | Liberty Lake, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 29,904 | |
Initial Cost, Land and Land Improvements | 5,501 | |
Initial Cost, Building and Building Improvements | 31,785 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 109 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 714 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,610 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 32,499 | |
Total | 38,109 | |
Accumulated Depreciation | $ (812) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Columbia Trails [Member] | Gresham, OR [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 33,640 | |
Initial Cost, Land and Land Improvements | 4,825 | |
Initial Cost, Building and Building Improvements | 49,266 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 959 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,825 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 50,225 | |
Total | 55,050 | |
Accumulated Depreciation | $ (1,040) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Sierra Oaks [Member] | Turlock, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,550 | |
Initial Cost, Land and Land Improvements | 2,241 | |
Initial Cost, Building and Building Improvements | 35,067 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 5 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 400 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,246 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 35,467 | |
Total | 37,713 | |
Accumulated Depreciation | $ (732) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Knightsbridge at Stoneybrook [Member] | Orlando, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 36,881 | |
Initial Cost, Land and Land Improvements | 7,989 | |
Initial Cost, Building and Building Improvements | 48,397 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 97 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 450 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,086 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 48,847 | |
Total | 56,933 | |
Accumulated Depreciation | $ (1,089) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | ARIUM Town Center [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 37,338 | |
Initial Cost, Land and Land Improvements | 8,186 | |
Initial Cost, Building and Building Improvements | 43,909 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 4 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 89 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,190 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 43,998 | |
Total | 52,188 | |
Accumulated Depreciation | $ (1,012) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Solis at Flamingo [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 47,190 | |
Initial Cost, Land and Land Improvements | 22,388 | |
Initial Cost, Building and Building Improvements | 47,117 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 181 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 805 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,569 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,922 | |
Total | 70,491 | |
Accumulated Depreciation | $ (1,186) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Velaire At Aspera [Member] | Glendale, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 40,671 | |
Initial Cost, Land and Land Improvements | 12,242 | |
Initial Cost, Building and Building Improvements | 49,800 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 32 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,242 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 49,832 | |
Total | 62,074 | |
Accumulated Depreciation | $ (1,149) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Canyon [Member] | Glendale, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 25,610 | |
Initial Cost, Land and Land Improvements | 6,505 | |
Initial Cost, Building and Building Improvements | 32,190 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 100 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,505 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 32,290 | |
Total | 38,795 | |
Accumulated Depreciation | $ (533) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Finisterra [Member] | Tempe, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 42,695 | |
Initial Cost, Land and Land Improvements | 11,457 | |
Initial Cost, Building and Building Improvements | 52,620 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 29 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 120 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,486 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 52,740 | |
Total | 64,226 | |
Accumulated Depreciation | $ (876) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Foothills [Member] | Phoenix, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 35,043 | |
Initial Cost, Land and Land Improvements | 9,847 | |
Initial Cost, Building and Building Improvements | 42,715 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 19 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 198 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,866 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 42,913 | |
Total | 52,779 | |
Accumulated Depreciation | $ (711) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Lumiere [Member] | Chandler, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 29,600 | |
Initial Cost, Land and Land Improvements | 7,521 | |
Initial Cost, Building and Building Improvements | 36,596 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 10 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 121 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,531 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 36,717 | |
Total | 44,248 | |
Accumulated Depreciation | $ (604) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Stadium Village [Member] | Surprise, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 44,982 | |
Initial Cost, Land and Land Improvements | 10,845 | |
Initial Cost, Building and Building Improvements | 55,007 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 39 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 163 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,884 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 55,170 | |
Total | 66,054 | |
Accumulated Depreciation | $ (963) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Waterford [Member] | Peoria, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 22,745 | |
Initial Cost, Land and Land Improvements | 4,833 | |
Initial Cost, Building and Building Improvements | 27,716 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 245 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,835 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 27,961 | |
Total | 32,796 | |
Accumulated Depreciation | $ (432) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Avanti Apartments [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 4,630 | |
Initial Cost, Building and Building Improvements | 59,893 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,630 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 59,902 | |
Total | 64,532 | |
Accumulated Depreciation | $ (124) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Broadway Estates [Member] | Mesa, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,077 | |
Initial Cost, Land and Land Improvements | 8,765 | |
Initial Cost, Building and Building Improvements | 102 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,767 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 102 | |
Total | 8,869 | |
Accumulated Depreciation | $ (209) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Los Hermanos [Member] | Cottonwood, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,230 | |
Initial Cost, Land and Land Improvements | 3,313 | |
Initial Cost, Building and Building Improvements | 81 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,313 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 81 | |
Total | 3,394 | |
Accumulated Depreciation | $ (73) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | El Rio De Oro [Member] | Cottonwood, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,541 | |
Initial Cost, Land and Land Improvements | 5,238 | |
Initial Cost, Building and Building Improvements | 244 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,238 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 244 | |
Total | 5,482 | |
Accumulated Depreciation | $ (155) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Evergreen [Member] | Chandler, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,334 | |
Initial Cost, Land and Land Improvements | 4,293 | |
Initial Cost, Building and Building Improvements | 78 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,293 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 78 | |
Total | 4,371 | |
Accumulated Depreciation | $ (56) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Minari [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,298 | |
Initial Cost, Land and Land Improvements | 3,835 | |
Initial Cost, Building and Building Improvements | 61 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,835 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 61 | |
Total | 3,896 | |
Accumulated Depreciation | $ (51) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Longhaven Estates [Member] | Phoenix, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 18,185 | |
Initial Cost, Land and Land Improvements | 29,613 | |
Initial Cost, Building and Building Improvements | 698 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 29,613 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 701 | |
Total | 30,314 | |
Accumulated Depreciation | $ (272) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Parkhaven Estates & RV Resort [Member] | Mesa, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 14,742 | |
Initial Cost, Land and Land Improvements | 22,145 | |
Initial Cost, Building and Building Improvements | 782 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 1 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 175 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 22,146 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 957 | |
Total | 23,103 | |
Accumulated Depreciation | $ (310) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Rosehaven Estates & RV Resort [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,996 | |
Initial Cost, Land and Land Improvements | 19,276 | |
Initial Cost, Building and Building Improvements | 266 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 779 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,276 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,045 | |
Total | 20,321 | |
Accumulated Depreciation | $ (260) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Springhaven Estates [Member] | Mesa, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,807 | |
Initial Cost, Land and Land Improvements | 17,180 | |
Initial Cost, Building and Building Improvements | 423 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,180 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 423 | |
Total | 17,603 | |
Accumulated Depreciation | $ (219) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Skyhaven Estates [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,307 | |
Initial Cost, Land and Land Improvements | 14,542 | |
Initial Cost, Building and Building Improvements | 236 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,542 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 236 | |
Total | 14,778 | |
Accumulated Depreciation | $ (156) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Brighthaven Estates [Member] | Mesa, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,962 | |
Initial Cost, Land and Land Improvements | 8,476 | |
Initial Cost, Building and Building Improvements | 438 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,476 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 438 | |
Total | 8,914 | |
Accumulated Depreciation | $ (115) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Palmdale Estates [Member] | Indio, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,161 | |
Initial Cost, Land and Land Improvements | 7,220 | |
Initial Cost, Building and Building Improvements | 235 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,220 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 235 | |
Total | 7,455 | |
Accumulated Depreciation | $ (119) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Springdale Estates [Member] | San Marcos, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,607 | |
Initial Cost, Land and Land Improvements | 6,236 | |
Initial Cost, Building and Building Improvements | 309 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 9 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,236 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 318 | |
Total | 6,554 | |
Accumulated Depreciation | $ (99) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Glenhaven Estates [Member] | Mesa, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,920 | |
Initial Cost, Land and Land Improvements | 7,820 | |
Initial Cost, Building and Building Improvements | 461 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 36 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,820 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 497 | |
Total | 8,317 | |
Accumulated Depreciation | $ (107) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Riverdale Estates [Member] | Indio, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,035 | |
Initial Cost, Land and Land Improvements | 6,540 | |
Initial Cost, Building and Building Improvements | 113 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,540 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 113 | |
Total | 6,653 | |
Accumulated Depreciation | $ (143) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Sundowner RV Resort [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,077 | |
Initial Cost, Land and Land Improvements | 6,400 | |
Initial Cost, Building and Building Improvements | 249 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,400 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 249 | |
Total | 6,649 | |
Accumulated Depreciation | $ (101) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Sunhaven RV Resort [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,260 | |
Initial Cost, Land and Land Improvements | 8,146 | |
Initial Cost, Building and Building Improvements | 219 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,146 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 219 | |
Total | 8,365 | |
Accumulated Depreciation | $ (107) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Brookhaven RV Resort [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,240 | |
Initial Cost, Land and Land Improvements | 6,793 | |
Initial Cost, Building and Building Improvements | 206 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,793 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 206 | |
Total | 6,999 | |
Accumulated Depreciation | $ (95) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Newhaven Estates [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,459 | |
Initial Cost, Land and Land Improvements | 4,163 | |
Initial Cost, Building and Building Improvements | 149 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,163 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 149 | |
Total | 4,312 | |
Accumulated Depreciation | $ (73) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Hidden Springs MH [Member] | Desert Hot Springs, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,342 | |
Initial Cost, Land and Land Improvements | 15,223 | |
Initial Cost, Building and Building Improvements | 707 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 63 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,223 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 770 | |
Total | 15,993 | |
Accumulated Depreciation | $ (280) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Pacific Mobile Manor [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,637 | |
Initial Cost, Land and Land Improvements | 7,528 | |
Initial Cost, Building and Building Improvements | 289 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,528 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 289 | |
Total | 7,817 | |
Accumulated Depreciation | $ (101) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Star Valley Ranch [Member] | Apache Junction, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,471 | |
Initial Cost, Land and Land Improvements | 5,503 | |
Initial Cost, Building and Building Improvements | 365 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,503 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 365 | |
Total | 5,868 | |
Accumulated Depreciation | $ (94) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Royal Vegas, MH [Member] | Las Vegas, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,075 | |
Initial Cost, Land and Land Improvements | 7,682 | |
Initial Cost, Building and Building Improvements | 220 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,682 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 220 | |
Total | 7,902 | |
Accumulated Depreciation | $ (52) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Riverest MH [Member] | Tavares, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 4,390 | |
Initial Cost, Building and Building Improvements | 1,244 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,390 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,244 | |
Total | 5,634 | |
Accumulated Depreciation | $ (18) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The District on Apache [Member] | Tempe, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 97,149 | |
Initial Cost, Land and Land Improvements | 14,180 | |
Initial Cost, Building and Building Improvements | 111,719 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 139 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,182 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 111,858 | |
Total | 126,040 | |
Accumulated Depreciation | $ (1,052) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | East Edge [Member] | Tuscaloosa, AL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 65,931 | |
Initial Cost, Land and Land Improvements | 16,579 | |
Initial Cost, Building and Building Improvements | 74,404 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 16,579 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 74,410 | |
Total | 90,989 | |
Accumulated Depreciation | $ (715) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The District on 5th [Member] | Tucson, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 67,269 | |
Initial Cost, Land and Land Improvements | 5,956 | |
Initial Cost, Building and Building Improvements | 82,701 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 12 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,968 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 82,701 | |
Total | 88,669 | |
Accumulated Depreciation | $ (777) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Pointe at State College [Member] | State College, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 65,018 | |
Initial Cost, Land and Land Improvements | 8,422 | |
Initial Cost, Building and Building Improvements | 76,294 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 424 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,422 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 76,718 | |
Total | 85,140 | |
Accumulated Depreciation | $ (743) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Retreat at Blacksburg [Member] | Blacksburg, WV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 64,532 | |
Initial Cost, Land and Land Improvements | 12,698 | |
Initial Cost, Building and Building Improvements | 71,693 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 9 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 18 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 12,707 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 71,711 | |
Total | 84,418 | |
Accumulated Depreciation | $ (716) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Retreat at State College [Member] | State College, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 51,294 | |
Initial Cost, Land and Land Improvements | 8,456 | |
Initial Cost, Building and Building Improvements | 59,511 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 40 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,456 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 59,551 | |
Total | 68,007 | |
Accumulated Depreciation | $ (587) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Lofts at Orlando [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 48,066 | |
Initial Cost, Land and Land Improvements | 4,854 | |
Initial Cost, Building and Building Improvements | 60,003 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 61 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 25 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,915 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 60,028 | |
Total | 64,943 | |
Accumulated Depreciation | $ (582) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | GrandMarc at the Corner [Member] | Charlottesville, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 47,130 | |
Initial Cost, Land and Land Improvements | 175 | |
Initial Cost, Building and Building Improvements | 70,119 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 8 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 175 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 70,127 | |
Total | 70,302 | |
Accumulated Depreciation | $ (661) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Province Boulder [Member] | Boulder, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 42,221 | |
Initial Cost, Land and Land Improvements | 9,300 | |
Initial Cost, Building and Building Improvements | 47,270 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 38 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 12 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,338 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 47,282 | |
Total | 56,620 | |
Accumulated Depreciation | $ (459) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Province Greenville [Member] | Greenville, SC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 45,961 | |
Initial Cost, Land and Land Improvements | 8,458 | |
Initial Cost, Building and Building Improvements | 45,948 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,458 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 45,948 | |
Total | 54,406 | |
Accumulated Depreciation | $ (446) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Urbane Tucson [Member] | Tucson, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 39,290 | |
Initial Cost, Land and Land Improvements | 5,128 | |
Initial Cost, Building and Building Improvements | 57,842 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,128 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 57,842 | |
Total | 62,970 | |
Accumulated Depreciation | $ (545) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Province at Kent [Member] | Kent, OH [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 36,477 | |
Initial Cost, Land and Land Improvements | 3,052 | |
Initial Cost, Building and Building Improvements | 41,735 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,052 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 41,742 | |
Total | 44,794 | |
Accumulated Depreciation | $ (405) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | University Village Towers [Member] | Riverside, CA | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 29,818 | |
Initial Cost, Land and Land Improvements | 3,966 | |
Initial Cost, Building and Building Improvements | 40,159 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,966 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 40,159 | |
Total | 44,125 | |
Accumulated Depreciation | $ (377) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Retreat at Louisville [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 34,266 | |
Initial Cost, Land and Land Improvements | 10,401 | |
Initial Cost, Building and Building Improvements | 31,231 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 2 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,403 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,233 | |
Total | 41,636 | |
Accumulated Depreciation | $ (310) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Jefferson Commons at Charlottesville [Member] | Charlottesville, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,071 | |
Initial Cost, Land and Land Improvements | 1,809 | |
Initial Cost, Building and Building Improvements | 6,385 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,809 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,385 | |
Total | 8,194 | |
Accumulated Depreciation | $ (62) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Lotus Apartments [Member] | Boulder, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 26,742 | |
Initial Cost, Land and Land Improvements | 8,330 | |
Initial Cost, Building and Building Improvements | 26,688 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 57 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,330 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,745 | |
Total | 35,075 | |
Accumulated Depreciation | $ (259) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | 319 Bragg [Member] | Auburn, AL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 21,924 | |
Initial Cost, Land and Land Improvements | 3,835 | |
Initial Cost, Building and Building Improvements | 28,175 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 11 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,835 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 28,186 | |
Total | 32,021 | |
Accumulated Depreciation | $ (273) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | The Berk [Member] | Berkeley, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,552 | |
Initial Cost, Land and Land Improvements | 4,584 | |
Initial Cost, Building and Building Improvements | 16,540 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,584 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,542 | |
Total | 21,126 | |
Accumulated Depreciation | $ (160) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Wertland Square [Member] | Charlottesville, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,237 | |
Initial Cost, Land and Land Improvements | 3,134 | |
Initial Cost, Building and Building Improvements | 17,545 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,134 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,545 | |
Total | 20,679 | |
Accumulated Depreciation | $ (165) | |
Year Acquired | 2018 | |
Multifamily Properties [Member] | Georgia Heights [Member] | Athens, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 46,200 | |
Initial Cost, Land and Land Improvements | 4,931 | |
Initial Cost, Building and Building Improvements | 68,771 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 200 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,931 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 68,971 | |
Total | 73,902 | |
Accumulated Depreciation | $ (655) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,440,009 | |
Initial Cost, Land and Land Improvements | 727,320 | |
Initial Cost, Building and Building Improvements | 3,005,935 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22,663 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 727,320 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,028,598 | |
Total | 3,755,918 | |
Accumulated Depreciation | (75,992) | |
Industrial Properties [Member] | Stockton Industrial Park [Member] | Stockton, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | 14,926 | |
Initial Cost, Land and Land Improvements | 10,079 | |
Initial Cost, Building and Building Improvements | 21,240 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 321 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,079 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,561 | |
Total | 31,640 | |
Accumulated Depreciation | $ (1,630) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1650 Bluegrass Lakes Parkway [Member] | Alpharetta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,167 | |
Initial Cost, Land and Land Improvements | 998 | |
Initial Cost, Building and Building Improvements | 7,705 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 17 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 998 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,722 | |
Total | 8,720 | |
Accumulated Depreciation | $ (378) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 500 Interstate Parkway [Member] | Lithia Springs, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,899 | |
Initial Cost, Land and Land Improvements | 1,105 | |
Initial Cost, Building and Building Improvements | 8,687 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,105 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,687 | |
Total | 9,792 | |
Accumulated Depreciation | $ (500) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Cobb West Business Park [Member] | Austell, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 51,281 | |
Initial Cost, Land and Land Improvements | 5,344 | |
Initial Cost, Building and Building Improvements | 97,862 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 484 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,344 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 98,346 | |
Total | 103,690 | |
Accumulated Depreciation | $ (5,312) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8110 Troon Circle [Member] | Austell, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,022 | |
Initial Cost, Land and Land Improvements | 1,336 | |
Initial Cost, Building and Building Improvements | 5,481 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 109 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,336 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,590 | |
Total | 6,926 | |
Accumulated Depreciation | $ (374) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8140 Troon Circle [Member] | Austell, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,251 | |
Initial Cost, Land and Land Improvements | 1,342 | |
Initial Cost, Building and Building Improvements | 5,761 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 174 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,342 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,935 | |
Total | 7,277 | |
Accumulated Depreciation | $ (405) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1000 N. Main Street [Member] | Lombard, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,740 | |
Initial Cost, Land and Land Improvements | 483 | |
Initial Cost, Building and Building Improvements | 3,489 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 483 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,489 | |
Total | 3,972 | |
Accumulated Depreciation | $ (195) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 111 Internationale Blvd [Member] | Glendale Heights, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,152 | |
Initial Cost, Land and Land Improvements | 631 | |
Initial Cost, Building and Building Improvements | 3,698 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 95 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 631 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,793 | |
Total | 4,424 | |
Accumulated Depreciation | $ (190) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 120 North Schmale Road [Member] | Carol Stream, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,289 | |
Initial Cost, Land and Land Improvements | 1,184 | |
Initial Cost, Building and Building Improvements | 4,511 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,184 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,511 | |
Total | 5,695 | |
Accumulated Depreciation | $ (262) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1215 - 1225 Bowes Road [Member] | Elgin, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,465 | |
Initial Cost, Land and Land Improvements | 620 | |
Initial Cost, Building and Building Improvements | 2,733 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 72 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 620 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,805 | |
Total | 3,425 | |
Accumulated Depreciation | $ (171) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1287 Naperville Road [Member] | Romeoville, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,198 | |
Initial Cost, Land and Land Improvements | 935 | |
Initial Cost, Building and Building Improvements | 5,023 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 63 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 935 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,086 | |
Total | 6,021 | |
Accumulated Depreciation | $ (243) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1275-1285 Holmes Road [Member] | Elgin, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,793 | |
Initial Cost, Land and Land Improvements | 1,118 | |
Initial Cost, Building and Building Improvements | 5,172 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 41 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,118 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,213 | |
Total | 6,331 | |
Accumulated Depreciation | $ (263) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1811-1821 Industrial Drive [Member] | Libertyville, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,610 | |
Initial Cost, Land and Land Improvements | 850 | |
Initial Cost, Building and Building Improvements | 4,340 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 63 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 850 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,403 | |
Total | 5,253 | |
Accumulated Depreciation | $ (269) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 221 Westgate Drive [Member] | Carol Stream, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,388 | |
Initial Cost, Land and Land Improvements | 757 | |
Initial Cost, Building and Building Improvements | 6,727 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 757 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,727 | |
Total | 7,484 | |
Accumulated Depreciation | $ (343) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 2350 Pinehurst Blvd [Member] | Addison, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,068 | |
Initial Cost, Land and Land Improvements | 858 | |
Initial Cost, Building and Building Improvements | 5,683 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,138 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 858 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,821 | |
Total | 7,679 | |
Accumulated Depreciation | $ (289) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 417-419 Village Drive [Member] | Carol Stream, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,113 | |
Initial Cost, Land and Land Improvements | 837 | |
Initial Cost, Building and Building Improvements | 5,902 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 837 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,902 | |
Total | 6,739 | |
Accumulated Depreciation | $ (325) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 472 Thomas Drive [Member] | Bensenville, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,839 | |
Initial Cost, Land and Land Improvements | 1,001 | |
Initial Cost, Building and Building Improvements | 7,908 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 227 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,001 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,135 | |
Total | 9,136 | |
Accumulated Depreciation | $ (404) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 490 Windy Point Drive [Member] | Glendale Heights, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,465 | |
Initial Cost, Land and Land Improvements | 416 | |
Initial Cost, Building and Building Improvements | 2,837 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 416 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,837 | |
Total | 3,253 | |
Accumulated Depreciation | $ (157) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 540-570 Congress Circle South [Member] | Roselle, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,800 | |
Initial Cost, Land and Land Improvements | 1,166 | |
Initial Cost, Building and Building Improvements | 6,812 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,166 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,812 | |
Total | 7,978 | |
Accumulated Depreciation | $ (380) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 6350 Church Road [Member] | Hanover Park Illinois [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,839 | |
Initial Cost, Land and Land Improvements | 1,090 | |
Initial Cost, Building and Building Improvements | 5,342 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,090 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,342 | |
Total | 6,432 | |
Accumulated Depreciation | $ (332) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 655 Remington Blvd [Member] | Bolingbrook, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,793 | |
Initial Cost, Land and Land Improvements | 1,892 | |
Initial Cost, Building and Building Improvements | 4,023 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 65 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,892 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,088 | |
Total | 5,980 | |
Accumulated Depreciation | $ (252) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 340 Remington Blvd [Member] | Bolingbrook, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,723 | |
Initial Cost, Land and Land Improvements | 2,313 | |
Initial Cost, Building and Building Improvements | 9,953 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 135 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,313 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,088 | |
Total | 12,401 | |
Accumulated Depreciation | $ (578) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 636 Schwab Circle [Member] | Romeoville, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,244 | |
Initial Cost, Land and Land Improvements | 860 | |
Initial Cost, Building and Building Improvements | 4,193 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 860 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,193 | |
Total | 5,053 | |
Accumulated Depreciation | $ (212) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 3232 East Loop North [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,511 | |
Initial Cost, Land and Land Improvements | 632 | |
Initial Cost, Building and Building Improvements | 2,416 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 632 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,438 | |
Total | 3,070 | |
Accumulated Depreciation | $ (130) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 3262 East Loop [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,656 | |
Initial Cost, Land and Land Improvements | 707 | |
Initial Cost, Building and Building Improvements | 4,911 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 707 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,911 | |
Total | 5,618 | |
Accumulated Depreciation | $ (272) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 201 Cumberland Parkway [Member] | Mechanicsburg, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,133 | |
Initial Cost, Land and Land Improvements | 1,467 | |
Initial Cost, Building and Building Improvements | 21,649 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,467 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,649 | |
Total | 23,116 | |
Accumulated Depreciation | $ (1,170) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 181 Fulling Mill Rd [Member] | Middletown, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,998 | |
Initial Cost, Land and Land Improvements | 866 | |
Initial Cost, Building and Building Improvements | 12,492 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 866 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,492 | |
Total | 13,358 | |
Accumulated Depreciation | $ (651) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 5045 Ritter Road [Member] | Mechanicsburg, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,557 | |
Initial Cost, Land and Land Improvements | 399 | |
Initial Cost, Building and Building Improvements | 2,984 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 399 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,989 | |
Total | 3,388 | |
Accumulated Depreciation | $ (195) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 957 Heinz Way [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,361 | |
Initial Cost, Land and Land Improvements | 1,027 | |
Initial Cost, Building and Building Improvements | 5,762 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,027 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,762 | |
Total | 6,789 | |
Accumulated Depreciation | $ (390) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 4030 Mint Way [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,495 | |
Initial Cost, Land and Land Improvements | 863 | |
Initial Cost, Building and Building Improvements | 4,487 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 325 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 863 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,812 | |
Total | 5,675 | |
Accumulated Depreciation | $ (253) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Twin Creeks Business Center [Member] | Allen, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,150 | |
Initial Cost, Land and Land Improvements | 2,474 | |
Initial Cost, Building and Building Improvements | 15,664 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 120 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,474 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,784 | |
Total | 18,258 | |
Accumulated Depreciation | $ (936) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Carrier Parkway [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,255 | |
Initial Cost, Land and Land Improvements | 1,052 | |
Initial Cost, Building and Building Improvements | 6,266 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 30 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,052 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,296 | |
Total | 7,348 | |
Accumulated Depreciation | $ (384) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Southport Center [Member] | Orlando, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,022 | |
Initial Cost, Land and Land Improvements | 937 | |
Initial Cost, Building and Building Improvements | 5,149 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 20 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 937 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,169 | |
Total | 6,106 | |
Accumulated Depreciation | $ (285) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Palmbay Center [Member] | Orlando, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,518 | |
Initial Cost, Land and Land Improvements | 590 | |
Initial Cost, Building and Building Improvements | 4,064 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 590 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,064 | |
Total | 4,654 | |
Accumulated Depreciation | $ (203) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8901-8918 Market St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,502 | |
Initial Cost, Land and Land Improvements | 1,662 | |
Initial Cost, Building and Building Improvements | 11,944 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 26 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,662 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,970 | |
Total | 13,632 | |
Accumulated Depreciation | $ (633) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8921-8922 Market St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,769 | |
Initial Cost, Land and Land Improvements | 1,645 | |
Initial Cost, Building and Building Improvements | 12,220 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 74 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,645 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,294 | |
Total | 13,939 | |
Accumulated Depreciation | $ (609) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8935-8947 Market St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,350 | |
Initial Cost, Land and Land Improvements | 1,294 | |
Initial Cost, Building and Building Improvements | 8,167 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 27 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,294 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,194 | |
Total | 9,488 | |
Accumulated Depreciation | $ (420) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8967-8977 Market St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,342 | |
Initial Cost, Land and Land Improvements | 1,149 | |
Initial Cost, Building and Building Improvements | 5,722 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,149 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,722 | |
Total | 6,871 | |
Accumulated Depreciation | $ (319) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 8979-8999 Market St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,212 | |
Initial Cost, Land and Land Improvements | 1,178 | |
Initial Cost, Building and Building Improvements | 7,520 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,178 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,520 | |
Total | 8,698 | |
Accumulated Depreciation | $ (447) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1 Gardner Road [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,807 | |
Initial Cost, Land and Land Improvements | 1,232 | |
Initial Cost, Building and Building Improvements | 2,755 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,232 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,758 | |
Total | 3,990 | |
Accumulated Depreciation | $ (135) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 4 Gardner Road [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,132 | |
Initial Cost, Land and Land Improvements | 1,767 | |
Initial Cost, Building and Building Improvements | 4,682 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 26 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,767 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,708 | |
Total | 6,475 | |
Accumulated Depreciation | $ (212) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 12 Gardner Road [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,696 | |
Initial Cost, Land and Land Improvements | 3,223 | |
Initial Cost, Building and Building Improvements | 4,180 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,223 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,186 | |
Total | 7,409 | |
Accumulated Depreciation | $ (224) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 15 Gardner Road [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,523 | |
Initial Cost, Land and Land Improvements | 1,093 | |
Initial Cost, Building and Building Improvements | 4,074 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,093 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,096 | |
Total | 5,189 | |
Accumulated Depreciation | $ (171) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 11 Stewart Place [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,334 | |
Initial Cost, Land and Land Improvements | 1,101 | |
Initial Cost, Building and Building Improvements | 1,674 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 58 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,101 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,732 | |
Total | 2,833 | |
Accumulated Depreciation | $ (76) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 17 Stewart Place [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,302 | |
Initial Cost, Land and Land Improvements | 1,170 | |
Initial Cost, Building and Building Improvements | 1,900 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,170 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,905 | |
Total | 3,075 | |
Accumulated Depreciation | $ (93) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 24 Stewart Place [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,668 | |
Initial Cost, Land and Land Improvements | 4,219 | |
Initial Cost, Building and Building Improvements | 5,936 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 32 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,219 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,968 | |
Total | 10,187 | |
Accumulated Depreciation | $ (251) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 67 Route 46 [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,182 | |
Initial Cost, Land and Land Improvements | 4,726 | |
Initial Cost, Building and Building Improvements | 6,013 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,726 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,019 | |
Total | 10,745 | |
Accumulated Depreciation | $ (271) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 5-7 Evans Street [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,479 | |
Initial Cost, Land and Land Improvements | 2,131 | |
Initial Cost, Building and Building Improvements | 2,408 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 5 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,131 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,413 | |
Total | 4,544 | |
Accumulated Depreciation | $ (119) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 20 Audrey Place [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,200 | |
Initial Cost, Land and Land Improvements | 4,194 | |
Initial Cost, Building and Building Improvements | 8,677 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,194 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,690 | |
Total | 12,884 | |
Accumulated Depreciation | $ (370) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 27-29 Dwight Place [Member] | Fairfield, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,798 | |
Initial Cost, Land and Land Improvements | 843 | |
Initial Cost, Building and Building Improvements | 1,375 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 843 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,382 | |
Total | 2,225 | |
Accumulated Depreciation | $ (72) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Faye Road [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,356 | |
Initial Cost, Land and Land Improvements | 3,056 | |
Initial Cost, Building and Building Improvements | 20,161 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 533 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,056 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,694 | |
Total | 23,750 | |
Accumulated Depreciation | $ (721) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Jonesboro Commerce Center [Member] | Jonesboro, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,253 | |
Initial Cost, Land and Land Improvements | 2,804 | |
Initial Cost, Building and Building Improvements | 14,537 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,804 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,537 | |
Total | 17,341 | |
Accumulated Depreciation | $ (593) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Mason Road Distribution Center [Member] | La Vergne, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,580 | |
Initial Cost, Land and Land Improvements | 3,574 | |
Initial Cost, Building and Building Improvements | 16,037 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 210 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,574 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,247 | |
Total | 19,821 | |
Accumulated Depreciation | $ (655) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Volkswagen BTS [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,095 | |
Initial Cost, Land and Land Improvements | 2,261 | |
Initial Cost, Building and Building Improvements | 15,933 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,261 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,933 | |
Total | 18,194 | |
Accumulated Depreciation | $ (565) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | Westlake Distribution Center [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 14,207 | |
Initial Cost, Land and Land Improvements | 3,291 | |
Initial Cost, Building and Building Improvements | 22,985 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,291 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,985 | |
Total | 26,276 | |
Accumulated Depreciation | $ (831) | |
Year Acquired | 2017 | |
Industrial Properties [Member] | 1700 Edgelawn [Member] | Aurora, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 31,460 | |
Initial Cost, Land and Land Improvements | 17,424 | |
Initial Cost, Building and Building Improvements | 43,812 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,424 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 43,812 | |
Total | 61,236 | |
Accumulated Depreciation | $ (1,528) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2303 W. Indian Trail [Member] | Aurora, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,401 | |
Initial Cost, Land and Land Improvements | 8,455 | |
Initial Cost, Building and Building Improvements | 34,026 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 8,455 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 34,026 | |
Total | 42,481 | |
Accumulated Depreciation | $ (1,079) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2380 Sullivan Rd. [Member] | Aurora, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,253 | |
Initial Cost, Land and Land Improvements | 10,116 | |
Initial Cost, Building and Building Improvements | 23,150 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 10,116 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 23,150 | |
Total | 33,266 | |
Accumulated Depreciation | $ (892) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6606 Pontius Rd [Member] | Groveport, OH [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 41,750 | |
Initial Cost, Land and Land Improvements | 4,606 | |
Initial Cost, Building and Building Improvements | 42,030 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 859 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,606 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 42,889 | |
Total | 47,495 | |
Accumulated Depreciation | $ (1,207) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 450 Airtech Pkwy [Member] | Plainfield, IN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 31,700 | |
Initial Cost, Land and Land Improvements | 4,956 | |
Initial Cost, Building and Building Improvements | 28,614 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,956 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 28,614 | |
Total | 33,570 | |
Accumulated Depreciation | $ (730) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 880 S Rohlwing Rd [Member] | Addison, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 25,000 | |
Initial Cost, Land and Land Improvements | 6,603 | |
Initial Cost, Building and Building Improvements | 30,295 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,603 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,305 | |
Total | 36,908 | |
Accumulated Depreciation | $ (843) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 16824 Enterprise Blvd [Member] | Crest Hill, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 31,600 | |
Initial Cost, Land and Land Improvements | 5,957 | |
Initial Cost, Building and Building Improvements | 30,541 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,189 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,957 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 32,730 | |
Total | 38,687 | |
Accumulated Depreciation | $ (837) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6500 Sheriff Rd [Member] | Landover, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,000 | |
Initial Cost, Land and Land Improvements | 9,479 | |
Initial Cost, Building and Building Improvements | 24,030 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 9,479 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 24,030 | |
Total | 33,509 | |
Accumulated Depreciation | $ (664) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4500 Northport Dr [Member] | Northlake, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 27,900 | |
Initial Cost, Land and Land Improvements | 3,898 | |
Initial Cost, Building and Building Improvements | 32,262 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,898 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 32,262 | |
Total | 36,160 | |
Accumulated Depreciation | $ (832) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10874 Second Amendment Drive [Member] | Glen Rock, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 25,250 | |
Initial Cost, Land and Land Improvements | 6,792 | |
Initial Cost, Building and Building Improvements | 28,003 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,792 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 28,003 | |
Total | 34,795 | |
Accumulated Depreciation | $ (861) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5680 W Jarvis St [Member] | Niles, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 23,000 | |
Initial Cost, Land and Land Improvements | 11,223 | |
Initial Cost, Building and Building Improvements | 16,678 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,223 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,678 | |
Total | 27,901 | |
Accumulated Depreciation | $ (443) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 245 Deen Still Rd [Member] | Davenport, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 18,800 | |
Initial Cost, Land and Land Improvements | 3,126 | |
Initial Cost, Building and Building Improvements | 23,200 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,126 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 23,200 | |
Total | 26,326 | |
Accumulated Depreciation | $ (648) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1801 Innovation Blvd S [Member] | Clayton, IN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 19,250 | |
Initial Cost, Land and Land Improvements | 3,398 | |
Initial Cost, Building and Building Improvements | 20,013 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 661 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,398 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,674 | |
Total | 24,072 | |
Accumulated Depreciation | $ (480) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3101-3151 S Platte River Dr [Member] | Englewood, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,300 | |
Initial Cost, Land and Land Improvements | 7,097 | |
Initial Cost, Building and Building Improvements | 17,420 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,097 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,420 | |
Total | 24,517 | |
Accumulated Depreciation | $ (537) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3155-3199 S Platte River Dr [Member] | Englewood, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,000 | |
Initial Cost, Land and Land Improvements | 6,948 | |
Initial Cost, Building and Building Improvements | 17,281 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,948 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,281 | |
Total | 24,229 | |
Accumulated Depreciation | $ (533) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 650 Commerce Pkwy E Dr [Member] | Greenwood, IN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,400 | |
Initial Cost, Land and Land Improvements | 2,174 | |
Initial Cost, Building and Building Improvements | 21,869 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 42 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,174 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,911 | |
Total | 24,085 | |
Accumulated Depreciation | $ (617) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7225 Santa Fe Dr [Member] | Hodgkins, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 19,800 | |
Initial Cost, Land and Land Improvements | 7,040 | |
Initial Cost, Building and Building Improvements | 21,744 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,040 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,744 | |
Total | 28,784 | |
Accumulated Depreciation | $ (517) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1250 Terminus Dr [Member] | Lithia Springs, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,150 | |
Initial Cost, Land and Land Improvements | 5,594 | |
Initial Cost, Building and Building Improvements | 18,685 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,594 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,685 | |
Total | 24,279 | |
Accumulated Depreciation | $ (523) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3201-3273 S Platte River Dr [Member] | Englewood, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,750 | |
Initial Cost, Land and Land Improvements | 6,282 | |
Initial Cost, Building and Building Improvements | 15,371 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 49 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,282 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,420 | |
Total | 21,702 | |
Accumulated Depreciation | $ (455) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1651 S Carlos Ave [Member] | Ontario, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,250 | |
Initial Cost, Land and Land Improvements | 5,766 | |
Initial Cost, Building and Building Improvements | 16,688 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,766 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,688 | |
Total | 22,454 | |
Accumulated Depreciation | $ (418) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4326 86th Ave E [Member] | Puyallup, WA [Member} | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,900 | |
Initial Cost, Land and Land Improvements | 3,611 | |
Initial Cost, Building and Building Improvements | 18,207 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,611 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,207 | |
Total | 21,818 | |
Accumulated Depreciation | $ (443) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3025 E Dominguez St [Member] | Carson, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,900 | |
Initial Cost, Land and Land Improvements | 15,959 | |
Initial Cost, Building and Building Improvements | 7,447 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 15,959 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,447 | |
Total | 23,406 | |
Accumulated Depreciation | $ (213) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1980 High Grove Ln [Member] | Naperville, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,400 | |
Initial Cost, Land and Land Improvements | 4,125 | |
Initial Cost, Building and Building Improvements | 17,768 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,125 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,768 | |
Total | 21,893 | |
Accumulated Depreciation | $ (523) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1111 Northpoint Drive [Member] | Coppell, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,200 | |
Initial Cost, Land and Land Improvements | 1,841 | |
Initial Cost, Building and Building Improvements | 14,694 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,816 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,841 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,510 | |
Total | 18,351 | |
Accumulated Depreciation | $ (432) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7815 Third Flag Pkwy [Member] | Austell, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,800 | |
Initial Cost, Land and Land Improvements | 2,598 | |
Initial Cost, Building and Building Improvements | 17,964 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 381 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,598 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,345 | |
Total | 20,943 | |
Accumulated Depreciation | $ (459) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 255 Fort Collier Rd [Member] | Winchester, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 14,300 | |
Initial Cost, Land and Land Improvements | 3,347 | |
Initial Cost, Building and Building Improvements | 17,763 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 61 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,347 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 17,824 | |
Total | 21,171 | |
Accumulated Depreciation | $ (438) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3040 Campus Dr [Member] | Hatfield, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,500 | |
Initial Cost, Land and Land Improvements | 2,431 | |
Initial Cost, Building and Building Improvements | 16,102 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 76 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,431 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,178 | |
Total | 18,609 | |
Accumulated Depreciation | $ (402) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 300 Purity Dr [Member] | Lebanon, IN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,400 | |
Initial Cost, Land and Land Improvements | 2,273 | |
Initial Cost, Building and Building Improvements | 18,491 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,198 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,273 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,689 | |
Total | 21,962 | |
Accumulated Depreciation | $ (470) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10825 7th St [Member] | Rancho Cucamonga, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,700 | |
Initial Cost, Land and Land Improvements | 4,962 | |
Initial Cost, Building and Building Improvements | 13,018 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,962 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,018 | |
Total | 17,980 | |
Accumulated Depreciation | $ (337) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4162 Georgia Blvd [Member] | San Bernardino, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,300 | |
Initial Cost, Land and Land Improvements | 7,363 | |
Initial Cost, Building and Building Improvements | 10,063 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 7,363 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,063 | |
Total | 17,426 | |
Accumulated Depreciation | $ (259) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1595 MacArthur Boulevard [Member] | Mahwah, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,900 | |
Initial Cost, Land and Land Improvements | 3,672 | |
Initial Cost, Building and Building Improvements | 11,139 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,672 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,139 | |
Total | 14,811 | |
Accumulated Depreciation | $ (299) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5111 Frye Rd [Member] | Irving, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,000 | |
Initial Cost, Land and Land Improvements | 3,858 | |
Initial Cost, Building and Building Improvements | 14,623 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 23 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,858 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,646 | |
Total | 18,504 | |
Accumulated Depreciation | $ (383) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1 Wiley Dr [Member] | Somerset, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,400 | |
Initial Cost, Land and Land Improvements | 11,100 | |
Initial Cost, Building and Building Improvements | 5,044 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,100 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,044 | |
Total | 16,144 | |
Accumulated Depreciation | $ (288) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5025 W Knollwood St [Member] | Tampa, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,000 | |
Initial Cost, Land and Land Improvements | 2,558 | |
Initial Cost, Building and Building Improvements | 18,601 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,558 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,601 | |
Total | 21,159 | |
Accumulated Depreciation | $ (459) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2020 Greens Rd [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,000 | |
Initial Cost, Land and Land Improvements | 1,918 | |
Initial Cost, Building and Building Improvements | 14,391 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 414 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,918 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,805 | |
Total | 16,723 | |
Accumulated Depreciation | $ (381) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2303 Center Square Rd [Member] | Logan Township, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,900 | |
Initial Cost, Land and Land Improvements | 3,713 | |
Initial Cost, Building and Building Improvements | 13,206 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,713 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,206 | |
Total | 16,919 | |
Accumulated Depreciation | $ (421) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2235 Spiegel Dr [Member] | Groveport, OH [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,900 | |
Initial Cost, Land and Land Improvements | 2,455 | |
Initial Cost, Building and Building Improvements | 14,574 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,291 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,455 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,865 | |
Total | 18,320 | |
Accumulated Depreciation | $ (396) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5001 N Hiatus Rd [Member] | Sunrise, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,750 | |
Initial Cost, Land and Land Improvements | 6,916 | |
Initial Cost, Building and Building Improvements | 10,491 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 42 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,916 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,533 | |
Total | 17,449 | |
Accumulated Depreciation | $ (297) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 320 Route 17 S [Member] | Mahwah, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,700 | |
Initial Cost, Land and Land Improvements | 3,647 | |
Initial Cost, Building and Building Improvements | 11,882 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,647 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,882 | |
Total | 15,529 | |
Accumulated Depreciation | $ (306) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 321 Apple Valley Rd [Member] | Winchester, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,750 | |
Initial Cost, Land and Land Improvements | 1,830 | |
Initial Cost, Building and Building Improvements | 15,296 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,830 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,296 | |
Total | 17,126 | |
Accumulated Depreciation | $ (453) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4787 Stalwart Ave [Member] | Fairburn, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,150 | |
Initial Cost, Land and Land Improvements | 1,034 | |
Initial Cost, Building and Building Improvements | 15,747 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,034 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,747 | |
Total | 16,781 | |
Accumulated Depreciation | $ (476) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1801 W Hawthorne Ln [Member] | West Chicago, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,800 | |
Initial Cost, Land and Land Improvements | 3,055 | |
Initial Cost, Building and Building Improvements | 12,863 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 85 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,055 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,948 | |
Total | 16,003 | |
Accumulated Depreciation | $ (369) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 300 S Cedar Ave [Member] | Rialto, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,000 | |
Initial Cost, Land and Land Improvements | 4,538 | |
Initial Cost, Building and Building Improvements | 10,073 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,538 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,073 | |
Total | 14,611 | |
Accumulated Depreciation | $ (265) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3110 Roy Orr Blvd [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,346 | |
Initial Cost, Land and Land Improvements | 2,915 | |
Initial Cost, Building and Building Improvements | 13,886 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,915 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,886 | |
Total | 16,801 | |
Accumulated Depreciation | $ (329) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 100 Corporate Dr [Member] | Mahwah, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,500 | |
Initial Cost, Land and Land Improvements | 4,226 | |
Initial Cost, Building and Building Improvements | 9,939 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,226 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,939 | |
Total | 14,165 | |
Accumulated Depreciation | $ (331) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1141 S US Highway 301 [Member] | Tampa, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,600 | |
Initial Cost, Land and Land Improvements | 3,171 | |
Initial Cost, Building and Building Improvements | 11,017 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,171 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,017 | |
Total | 14,188 | |
Accumulated Depreciation | $ (280) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3100 Roy Orr Blvd [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,654 | |
Initial Cost, Land and Land Improvements | 2,868 | |
Initial Cost, Building and Building Improvements | 12,244 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,868 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,244 | |
Total | 15,112 | |
Accumulated Depreciation | $ (320) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2220 Chemsearch Blvd [Member] | Irving, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,500 | |
Initial Cost, Land and Land Improvements | 2,663 | |
Initial Cost, Building and Building Improvements | 7,457 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,663 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,457 | |
Total | 10,120 | |
Accumulated Depreciation | $ (213) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6901-6909 Snowden Rd [Member] | Fort Worth, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,000 | |
Initial Cost, Land and Land Improvements | 1,744 | |
Initial Cost, Building and Building Improvements | 11,298 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,744 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,298 | |
Total | 13,042 | |
Accumulated Depreciation | $ (302) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1601-1701 W Hawthorne Ln [Member] | West Chicago, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,100 | |
Initial Cost, Land and Land Improvements | 3,091 | |
Initial Cost, Building and Building Improvements | 6,985 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 521 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,091 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,506 | |
Total | 10,597 | |
Accumulated Depreciation | $ (228) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 13144 S Pulaski Rd [Member] | Alsip, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,200 | |
Initial Cost, Land and Land Improvements | 3,375 | |
Initial Cost, Building and Building Improvements | 10,713 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,375 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,713 | |
Total | 14,088 | |
Accumulated Depreciation | $ (321) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3101 Summit Ave [Member] | Plano, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,900 | |
Initial Cost, Land and Land Improvements | 1,640 | |
Initial Cost, Building and Building Improvements | 10,542 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,640 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,542 | |
Total | 12,182 | |
Accumulated Depreciation | $ (280) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 750 Corporate Dr [Member] | Mahwah, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,000 | |
Initial Cost, Land and Land Improvements | 4,357 | |
Initial Cost, Building and Building Improvements | 8,369 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,357 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,369 | |
Total | 12,726 | |
Accumulated Depreciation | $ (285) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6695 Business Pkwy [Member] | Elkridge, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,400 | |
Initial Cost, Land and Land Improvements | 2,165 | |
Initial Cost, Building and Building Improvements | 9,448 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,165 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,448 | |
Total | 11,613 | |
Accumulated Depreciation | $ (242) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1880 Country Farm Dr [Member] | Naperville, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,000 | |
Initial Cost, Land and Land Improvements | 2,959 | |
Initial Cost, Building and Building Improvements | 8,247 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 374 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,959 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,621 | |
Total | 11,580 | |
Accumulated Depreciation | $ (301) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 238-248 Tubeway Dr [Member] | Chicago, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,600 | |
Initial Cost, Land and Land Improvements | 1,292 | |
Initial Cost, Building and Building Improvements | 9,416 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,292 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,416 | |
Total | 10,708 | |
Accumulated Depreciation | $ (240) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3850 Royal Ave [Member] | Simi Valley, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,600 | |
Initial Cost, Land and Land Improvements | 3,450 | |
Initial Cost, Building and Building Improvements | 7,390 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,450 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,390 | |
Total | 10,840 | |
Accumulated Depreciation | $ (205) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1700-1750 Harvester Rd [Member] | West Chicago, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,000 | |
Initial Cost, Land and Land Improvements | 2,631 | |
Initial Cost, Building and Building Improvements | 6,142 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,631 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,142 | |
Total | 8,773 | |
Accumulated Depreciation | $ (205) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2210 Saint Germain Rd [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,600 | |
Initial Cost, Land and Land Improvements | 2,874 | |
Initial Cost, Building and Building Improvements | 8,296 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,874 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,296 | |
Total | 11,170 | |
Accumulated Depreciation | $ (264) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3602 N Kennicott Ave [Member] | Arlington Heights, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,400 | |
Initial Cost, Land and Land Improvements | 1,957 | |
Initial Cost, Building and Building Improvements | 8,373 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 100 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,957 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,473 | |
Total | 10,430 | |
Accumulated Depreciation | $ (204) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2615 S 80th St [Member] | Tacoma, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,250 | |
Initial Cost, Land and Land Improvements | 2,380 | |
Initial Cost, Building and Building Improvements | 10,368 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,380 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,368 | |
Total | 12,748 | |
Accumulated Depreciation | $ (274) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6940 San Tomas Rd [Member] | Elkridge, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,600 | |
Initial Cost, Land and Land Improvements | 1,873 | |
Initial Cost, Building and Building Improvements | 9,918 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 218 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,873 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,136 | |
Total | 12,009 | |
Accumulated Depreciation | $ (270) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 8 Thornton Rd [Member] | Oakland, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,200 | |
Initial Cost, Land and Land Improvements | 1,725 | |
Initial Cost, Building and Building Improvements | 8,336 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,725 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,336 | |
Total | 10,061 | |
Accumulated Depreciation | $ (220) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3250 Abilene St [Member] | Aurora, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,100 | |
Initial Cost, Land and Land Improvements | 2,185 | |
Initial Cost, Building and Building Improvements | 8,706 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,185 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,706 | |
Total | 10,891 | |
Accumulated Depreciation | $ (303) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 36 Saratoga Blvd [Member] | Devens, MA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,900 | |
Initial Cost, Land and Land Improvements | 2,520 | |
Initial Cost, Building and Building Improvements | 8,604 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,520 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,604 | |
Total | 11,124 | |
Accumulated Depreciation | $ (294) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3825 Ohio Ave [Member] | St. Charles, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 9,750 | |
Initial Cost, Land and Land Improvements | 2,255 | |
Initial Cost, Building and Building Improvements | 7,559 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,255 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,559 | |
Total | 9,814 | |
Accumulated Depreciation | $ (261) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 442 Creamery Way [Member] | Exton, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,250 | |
Initial Cost, Land and Land Improvements | 2,946 | |
Initial Cost, Building and Building Improvements | 7,647 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,946 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,647 | |
Total | 10,593 | |
Accumulated Depreciation | $ (247) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1435 Bradley Ln [Member] | Carrollton, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,900 | |
Initial Cost, Land and Land Improvements | 1,382 | |
Initial Cost, Building and Building Improvements | 9,429 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,382 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,429 | |
Total | 10,811 | |
Accumulated Depreciation | $ (255) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 11333 E 55th Ave [Member] | Denver, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,100 | |
Initial Cost, Land and Land Improvements | 2,212 | |
Initial Cost, Building and Building Improvements | 9,525 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 85 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,212 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,610 | |
Total | 11,822 | |
Accumulated Depreciation | $ (258) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 236 E Pima St [Member] | Phoenix, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,250 | |
Initial Cost, Land and Land Improvements | 3,406 | |
Initial Cost, Building and Building Improvements | 7,520 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 68 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,406 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,588 | |
Total | 10,994 | |
Accumulated Depreciation | $ (238) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 8335-8373 Ardwick Ardmore Rd [Member] | Landover, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,600 | |
Initial Cost, Land and Land Improvements | 2,848 | |
Initial Cost, Building and Building Improvements | 6,215 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 111 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,848 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,326 | |
Total | 9,174 | |
Accumulated Depreciation | $ (203) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1445-1455 E Riverview Dr [Member] | San Bernardino, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,700 | |
Initial Cost, Land and Land Improvements | 5,325 | |
Initial Cost, Building and Building Improvements | 6,349 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,325 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,349 | |
Total | 11,674 | |
Accumulated Depreciation | $ (201) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 11101 Franklin Ave [Member] | Franklin Park, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,900 | |
Initial Cost, Land and Land Improvements | 3,254 | |
Initial Cost, Building and Building Improvements | 7,017 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 26 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,254 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,043 | |
Total | 10,297 | |
Accumulated Depreciation | $ (177) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 8375-8413 Ardwick Ardmore Rd [Member] | Landover, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,700 | |
Initial Cost, Land and Land Improvements | 2,790 | |
Initial Cost, Building and Building Improvements | 6,526 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 65 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,790 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,591 | |
Total | 9,381 | |
Accumulated Depreciation | $ (199) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10540 Bissonnet St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,300 | |
Initial Cost, Land and Land Improvements | 1,207 | |
Initial Cost, Building and Building Improvements | 8,299 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 21 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,207 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,320 | |
Total | 9,527 | |
Accumulated Depreciation | $ (235) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7606 Whitehall Executive Ctr [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,400 | |
Initial Cost, Land and Land Improvements | 1,465 | |
Initial Cost, Building and Building Improvements | 9,055 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,465 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,055 | |
Total | 10,520 | |
Accumulated Depreciation | $ (243) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10570 Bissonnet St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,500 | |
Initial Cost, Land and Land Improvements | 1,481 | |
Initial Cost, Building and Building Improvements | 8,418 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 219 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,481 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,637 | |
Total | 10,118 | |
Accumulated Depreciation | $ (205) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 13921 Senlac Dr [Member] | Farmers Branch, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,900 | |
Initial Cost, Land and Land Improvements | 1,328 | |
Initial Cost, Building and Building Improvements | 8,774 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,328 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,774 | |
Total | 10,102 | |
Accumulated Depreciation | $ (244) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1198-1206 Nagel Blvd [Member] | Batavia, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,500 | |
Initial Cost, Land and Land Improvements | 1,407 | |
Initial Cost, Building and Building Improvements | 8,221 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 60 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,407 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,281 | |
Total | 9,688 | |
Accumulated Depreciation | $ (253) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10550 Bissonnet St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,800 | |
Initial Cost, Land and Land Improvements | 1,179 | |
Initial Cost, Building and Building Improvements | 7,848 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,179 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,848 | |
Total | 9,027 | |
Accumulated Depreciation | $ (211) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10560 Bissonnet St [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,900 | |
Initial Cost, Land and Land Improvements | 1,204 | |
Initial Cost, Building and Building Improvements | 8,334 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 19 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,204 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,353 | |
Total | 9,557 | |
Accumulated Depreciation | $ (226) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 13835 Senlac Dr [Member] | Farmers Branch, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,000 | |
Initial Cost, Land and Land Improvements | 1,174 | |
Initial Cost, Building and Building Improvements | 7,951 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,174 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,951 | |
Total | 9,125 | |
Accumulated Depreciation | $ (242) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1850 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,000 | |
Initial Cost, Land and Land Improvements | 1,431 | |
Initial Cost, Building and Building Improvements | 7,595 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 130 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,431 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,725 | |
Total | 9,156 | |
Accumulated Depreciation | $ (224) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2740-2760 Regency Dr [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,400 | |
Initial Cost, Land and Land Improvements | 1,582 | |
Initial Cost, Building and Building Improvements | 8,328 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 140 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,582 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,468 | |
Total | 10,050 | |
Accumulated Depreciation | $ (236) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 16 Creek Pkwy [Member] | Upper Chichester, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,400 | |
Initial Cost, Land and Land Improvements | 1,746 | |
Initial Cost, Building and Building Improvements | 6,924 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,746 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,924 | |
Total | 8,670 | |
Accumulated Depreciation | $ (189) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7142 Ambassador Rd [Member] | Baltimore, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,900 | |
Initial Cost, Land and Land Improvements | 1,001 | |
Initial Cost, Building and Building Improvements | 6,016 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,001 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,016 | |
Total | 7,017 | |
Accumulated Depreciation | $ (193) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 34210 9th Ave S [Member] | Federal Way, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,500 | |
Initial Cost, Land and Land Improvements | 2,687 | |
Initial Cost, Building and Building Improvements | 6,465 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 316 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,687 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,781 | |
Total | 9,468 | |
Accumulated Depreciation | $ (162) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2040 McKenzie Dr [Member] | Carrollton, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,300 | |
Initial Cost, Land and Land Improvements | 1,336 | |
Initial Cost, Building and Building Improvements | 7,407 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,336 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,407 | |
Total | 8,743 | |
Accumulated Depreciation | $ (206) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7520 Airway Rd [Member] | San Diego, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,200 | |
Initial Cost, Land and Land Improvements | 3,284 | |
Initial Cost, Building and Building Improvements | 6,130 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,284 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,130 | |
Total | 9,414 | |
Accumulated Depreciation | $ (154) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 200 Corporate Dr [Member] | Mahwah, NJ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,700 | |
Initial Cost, Land and Land Improvements | 2,812 | |
Initial Cost, Building and Building Improvements | 5,786 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,812 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,786 | |
Total | 8,598 | |
Accumulated Depreciation | $ (188) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 9350-9370 S Point Dr [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,700 | |
Initial Cost, Land and Land Improvements | 1,163 | |
Initial Cost, Building and Building Improvements | 6,738 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,163 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,738 | |
Total | 7,901 | |
Accumulated Depreciation | $ (202) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1835 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,700 | |
Initial Cost, Land and Land Improvements | 925 | |
Initial Cost, Building and Building Improvements | 5,934 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 138 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 925 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,072 | |
Total | 6,997 | |
Accumulated Depreciation | $ (165) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7223-7249 Ambassador Rd [Member] | Baltimore, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,000 | |
Initial Cost, Land and Land Improvements | 1,259 | |
Initial Cost, Building and Building Improvements | 6,430 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,259 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,430 | |
Total | 7,689 | |
Accumulated Depreciation | $ (193) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 402 Lund Rd [Member] | Auburn, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,900 | |
Initial Cost, Land and Land Improvements | 1,991 | |
Initial Cost, Building and Building Improvements | 6,873 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,991 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,873 | |
Total | 8,864 | |
Accumulated Depreciation | $ (175) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7337 Bryan Dairy Rd [Member] | Largo, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,300 | |
Initial Cost, Land and Land Improvements | 2,052 | |
Initial Cost, Building and Building Improvements | 5,554 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,052 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,554 | |
Total | 7,606 | |
Accumulated Depreciation | $ (179) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 270 Old Silver Spring Road [Member] | Mechanicsburg, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,900 | |
Initial Cost, Land and Land Improvements | 1,257 | |
Initial Cost, Building and Building Improvements | 5,981 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,257 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,981 | |
Total | 7,238 | |
Accumulated Depreciation | $ (177) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 9045 Junction Dr [Member] | Annapolis Junction, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,600 | |
Initial Cost, Land and Land Improvements | 1,227 | |
Initial Cost, Building and Building Improvements | 5,022 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,110 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,227 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,132 | |
Total | 7,359 | |
Accumulated Depreciation | $ (123) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1811 Riverview Dr [Member] | San Bernardino, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,200 | |
Initial Cost, Land and Land Improvements | 2,023 | |
Initial Cost, Building and Building Improvements | 5,767 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,023 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,767 | |
Total | 7,790 | |
Accumulated Depreciation | $ (159) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4780 Winchester Blvd [Member] | Frederick, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,500 | |
Initial Cost, Land and Land Improvements | 1,008 | |
Initial Cost, Building and Building Improvements | 5,549 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,008 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,549 | |
Total | 6,557 | |
Accumulated Depreciation | $ (143) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2075-2185 Estes Ave [Member] | Elk Grove Village, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,800 | |
Initial Cost, Land and Land Improvements | 3,150 | |
Initial Cost, Building and Building Improvements | 3,193 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,150 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,193 | |
Total | 6,343 | |
Accumulated Depreciation | $ (108) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3830 Enterprise Way [Member] | Sanford, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,300 | |
Initial Cost, Land and Land Improvements | 1,137 | |
Initial Cost, Building and Building Improvements | 5,628 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,137 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,628 | |
Total | 6,765 | |
Accumulated Depreciation | $ (158) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1845 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,800 | |
Initial Cost, Land and Land Improvements | 855 | |
Initial Cost, Building and Building Improvements | 5,671 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 19 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 855 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,690 | |
Total | 6,545 | |
Accumulated Depreciation | $ (156) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2101-2107 Hutton Dr [Member] | Carrollton, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,800 | |
Initial Cost, Land and Land Improvements | 956 | |
Initial Cost, Building and Building Improvements | 5,467 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 956 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,467 | |
Total | 6,423 | |
Accumulated Depreciation | $ (181) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 13802 E 33rd Pl [Member] | Aurora, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,300 | |
Initial Cost, Land and Land Improvements | 1,116 | |
Initial Cost, Building and Building Improvements | 5,455 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,116 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,455 | |
Total | 6,571 | |
Accumulated Depreciation | $ (160) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 631 S Royal Ln [Member] | Coppell, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,100 | |
Initial Cost, Land and Land Improvements | 799 | |
Initial Cost, Building and Building Improvements | 4,848 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 894 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 799 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,742 | |
Total | 6,541 | |
Accumulated Depreciation | $ (174) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10903 S Tacoma Way [Member] | Lakewood, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,300 | |
Initial Cost, Land and Land Improvements | 618 | |
Initial Cost, Building and Building Improvements | 6,264 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 618 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,264 | |
Total | 6,882 | |
Accumulated Depreciation | $ (162) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 242-252 Beinoris Dr [Member] | Wood Dale, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,200 | |
Initial Cost, Land and Land Improvements | 2,460 | |
Initial Cost, Building and Building Improvements | 3,404 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,460 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,404 | |
Total | 5,864 | |
Accumulated Depreciation | $ (109) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4204 Lindbergh Dr [Member] | Addison, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,600 | |
Initial Cost, Land and Land Improvements | 928 | |
Initial Cost, Building and Building Improvements | 5,880 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 928 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,880 | |
Total | 6,808 | |
Accumulated Depreciation | $ (185) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 760 Lakeside Dr [Member] | Gurnee, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,800 | |
Initial Cost, Land and Land Improvements | 954 | |
Initial Cost, Building and Building Improvements | 4,418 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 224 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 954 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,642 | |
Total | 5,596 | |
Accumulated Depreciation | $ (113) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 14002 E 33rd Pl [Member] | Aurora, CO [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,200 | |
Initial Cost, Land and Land Improvements | 1,135 | |
Initial Cost, Building and Building Improvements | 4,788 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,135 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,788 | |
Total | 5,923 | |
Accumulated Depreciation | $ (135) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3800 Enterprise Way [Member] | Sanford, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,900 | |
Initial Cost, Land and Land Improvements | 893 | |
Initial Cost, Building and Building Improvements | 5,053 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 893 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,053 | |
Total | 5,946 | |
Accumulated Depreciation | $ (146) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2700 Lord Baltimore Dr [Member] | Baltimore, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,400 | |
Initial Cost, Land and Land Improvements | 905 | |
Initial Cost, Building and Building Improvements | 4,454 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 263 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 905 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,717 | |
Total | 5,622 | |
Accumulated Depreciation | $ (131) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10350-10390 Brockwood Rd [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,200 | |
Initial Cost, Land and Land Improvements | 1,432 | |
Initial Cost, Building and Building Improvements | 4,942 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,432 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,942 | |
Total | 6,374 | |
Accumulated Depreciation | $ (139) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 501 N Central Ave [Member] | Wood Dale, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,000 | |
Initial Cost, Land and Land Improvements | 2,312 | |
Initial Cost, Building and Building Improvements | 3,814 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,312 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,814 | |
Total | 6,126 | |
Accumulated Depreciation | $ (109) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7144-7162 Ambassador Rd [Member] | Baltimore, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,200 | |
Initial Cost, Land and Land Improvements | 957 | |
Initial Cost, Building and Building Improvements | 4,398 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 51 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 957 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,449 | |
Total | 5,406 | |
Accumulated Depreciation | $ (156) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2175 Union Pl [Member] | Simi Valley, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,500 | |
Initial Cost, Land and Land Improvements | 1,558 | |
Initial Cost, Building and Building Improvements | 4,273 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,558 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,273 | |
Total | 5,831 | |
Accumulated Depreciation | $ (117) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7200 Rutherford Rd [Member] | Baltimore, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,900 | |
Initial Cost, Land and Land Improvements | 913 | |
Initial Cost, Building and Building Improvements | 3,281 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 913 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,281 | |
Total | 4,194 | |
Accumulated Depreciation | $ (111) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1810 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,600 | |
Initial Cost, Land and Land Improvements | 798 | |
Initial Cost, Building and Building Improvements | 4,821 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 798 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,821 | |
Total | 5,619 | |
Accumulated Depreciation | $ (142) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1833 Riverview Dr [Member] | San Bernardino, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,500 | |
Initial Cost, Land and Land Improvements | 1,686 | |
Initial Cost, Building and Building Improvements | 3,826 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 90 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,686 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,916 | |
Total | 5,602 | |
Accumulated Depreciation | $ (105) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1895 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,900 | |
Initial Cost, Land and Land Improvements | 628 | |
Initial Cost, Building and Building Improvements | 5,117 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 628 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,117 | |
Total | 5,745 | |
Accumulated Depreciation | $ (148) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4300-4320 Campbell Rd [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,900 | |
Initial Cost, Land and Land Improvements | 1,022 | |
Initial Cost, Building and Building Improvements | 3,917 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 34 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,022 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,951 | |
Total | 4,973 | |
Accumulated Depreciation | $ (117) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1305 Ave H E [Member] | Grand Prairie, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,000 | |
Initial Cost, Land and Land Improvements | 1,606 | |
Initial Cost, Building and Building Improvements | 3,708 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 118 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,606 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,826 | |
Total | 5,432 | |
Accumulated Depreciation | $ (115) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6250 NW 27th Way [Member] | Fort Lauderdale, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,950 | |
Initial Cost, Land and Land Improvements | 1,347 | |
Initial Cost, Building and Building Improvements | 3,889 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 7 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,347 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,896 | |
Total | 5,243 | |
Accumulated Depreciation | $ (100) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3209 Wood Dr [Member] | Garland, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,800 | |
Initial Cost, Land and Land Improvements | 907 | |
Initial Cost, Building and Building Improvements | 4,097 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 907 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,097 | |
Total | 5,004 | |
Accumulated Depreciation | $ (123) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4444-4456 Campbell Rd [Member] | Houston, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,100 | |
Initial Cost, Land and Land Improvements | 1,045 | |
Initial Cost, Building and Building Improvements | 3,795 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,045 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,795 | |
Total | 4,840 | |
Accumulated Depreciation | $ (102) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 8900 Yellow Brick Rd [Member] | Rosedale, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,600 | |
Initial Cost, Land and Land Improvements | 1,214 | |
Initial Cost, Building and Building Improvements | 3,140 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 13 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,214 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,153 | |
Total | 4,367 | |
Accumulated Depreciation | $ (92) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 940-942 W Thorndale Ave [Member] | Itasca, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,100 | |
Initial Cost, Land and Land Improvements | 981 | |
Initial Cost, Building and Building Improvements | 3,751 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 981 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,751 | |
Total | 4,732 | |
Accumulated Depreciation | $ (102) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 11500 47th St [Member] | Clearwater, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,100 | |
Initial Cost, Land and Land Improvements | 1,357 | |
Initial Cost, Building and Building Improvements | 3,355 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,357 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,355 | |
Total | 4,712 | |
Accumulated Depreciation | $ (94) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10333 Windhorst Rd [Member] | Tampa, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,900 | |
Initial Cost, Land and Land Improvements | 787 | |
Initial Cost, Building and Building Improvements | 3,584 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 787 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,584 | |
Total | 4,371 | |
Accumulated Depreciation | $ (113) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7510 Airway Rd [Member] | San Diego, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,700 | |
Initial Cost, Land and Land Improvements | 1,749 | |
Initial Cost, Building and Building Improvements | 3,260 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,749 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,260 | |
Total | 5,009 | |
Accumulated Depreciation | $ (88) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2001 Estes Ave [Member] | Elk Grove Village, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,100 | |
Initial Cost, Land and Land Improvements | 1,696 | |
Initial Cost, Building and Building Improvements | 2,831 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,696 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,831 | |
Total | 4,527 | |
Accumulated Depreciation | $ (85) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 255-257 Beinoris Dr [Member] | Wood Dale, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,200 | |
Initial Cost, Land and Land Improvements | 1,796 | |
Initial Cost, Building and Building Improvements | 2,784 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 52 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,796 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,836 | |
Total | 4,632 | |
Accumulated Depreciation | $ (88) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6851 Snowden Rd [Member] | Fort Worth, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,600 | |
Initial Cost, Land and Land Improvements | 691 | |
Initial Cost, Building and Building Improvements | 4,545 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 691 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,545 | |
Total | 5,236 | |
Accumulated Depreciation | $ (150) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 480 Brogdon Rd [Member] | Suwanee, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,700 | |
Initial Cost, Land and Land Improvements | 305 | |
Initial Cost, Building and Building Improvements | 4,057 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 305 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,057 | |
Total | 4,362 | |
Accumulated Depreciation | $ (117) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 7120-7132 Ambassador Rd [Member] | Baltimore, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,000 | |
Initial Cost, Land and Land Improvements | 705 | |
Initial Cost, Building and Building Improvements | 2,828 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 705 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,828 | |
Total | 3,533 | |
Accumulated Depreciation | $ (89) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1600 Harvester Rd [Member] | West Chicago, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,650 | |
Initial Cost, Land and Land Improvements | 1,308 | |
Initial Cost, Building and Building Improvements | 2,906 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,308 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,906 | |
Total | 4,214 | |
Accumulated Depreciation | $ (108) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1817 Riverview Dr [Member] | San Bernardino, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,300 | |
Initial Cost, Land and Land Improvements | 1,513 | |
Initial Cost, Building and Building Improvements | 2,665 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,513 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,665 | |
Total | 4,178 | |
Accumulated Depreciation | $ (72) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 701 Willowbrook Ln [Member] | West Chester, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,300 | |
Initial Cost, Land and Land Improvements | 769 | |
Initial Cost, Building and Building Improvements | 2,626 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 769 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,626 | |
Total | 3,395 | |
Accumulated Depreciation | $ (73) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 460 Brogdon Rd [Member] | Suwanee, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,500 | |
Initial Cost, Land and Land Improvements | 271 | |
Initial Cost, Building and Building Improvements | 3,484 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 271 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,484 | |
Total | 3,755 | |
Accumulated Depreciation | $ (93) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3951 Dartmouth Court [Member] | Frederick, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,500 | |
Initial Cost, Land and Land Improvements | 593 | |
Initial Cost, Building and Building Improvements | 3,222 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 593 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,222 | |
Total | 3,815 | |
Accumulated Depreciation | $ (96) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4844 Winchester Blvd [Member] | Frederick, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,200 | |
Initial Cost, Land and Land Improvements | 441 | |
Initial Cost, Building and Building Improvements | 2,526 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 79 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 441 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,605 | |
Total | 3,046 | |
Accumulated Depreciation | $ (70) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10355-10395 Brockwood Rd [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,700 | |
Initial Cost, Land and Land Improvements | 903 | |
Initial Cost, Building and Building Improvements | 2,774 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 903 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,774 | |
Total | 3,677 | |
Accumulated Depreciation | $ (84) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10305-10345 Brockwood Rd [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,500 | |
Initial Cost, Land and Land Improvements | 757 | |
Initial Cost, Building and Building Improvements | 2,352 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 757 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,352 | |
Total | 3,109 | |
Accumulated Depreciation | $ (69) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2121 Union Pl [Member] | Simi Valley, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,600 | |
Initial Cost, Land and Land Improvements | 813 | |
Initial Cost, Building and Building Improvements | 2,740 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 813 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,740 | |
Total | 3,553 | |
Accumulated Depreciation | $ (73) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1500 Powis Court [Member] | West Chicago, IL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,100 | |
Initial Cost, Land and Land Improvements | 719 | |
Initial Cost, Building and Building Improvements | 2,247 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 719 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,247 | |
Total | 2,966 | |
Accumulated Depreciation | $ (68) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10410-10450 Markison Rd [Member] | Dallas, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,500 | |
Initial Cost, Land and Land Improvements | 800 | |
Initial Cost, Building and Building Improvements | 2,484 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 800 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,484 | |
Total | 3,284 | |
Accumulated Depreciation | $ (77) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4199 & 4201 Gibraltar Court [Member] | Stockton, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 43,102 | |
Initial Cost, Land and Land Improvements | 14,488 | |
Initial Cost, Building and Building Improvements | 50,262 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 14,488 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 50,262 | |
Total | 64,750 | |
Accumulated Depreciation | $ (1,138) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 33400 Dowe Avenue [Member] | Union City, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 37,343 | |
Initial Cost, Land and Land Improvements | 6,785 | |
Initial Cost, Building and Building Improvements | 46,830 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,785 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 46,869 | |
Total | 53,654 | |
Accumulated Depreciation | $ (846) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1840 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,150 | |
Initial Cost, Land and Land Improvements | 278 | |
Initial Cost, Building and Building Improvements | 2,001 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 278 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,001 | |
Total | 2,279 | |
Accumulated Depreciation | $ (55) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1000 Old Philadelphia Road [Member] | Aberdeen, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 29,710 | |
Initial Cost, Land and Land Improvements | 5,789 | |
Initial Cost, Building and Building Improvements | 38,820 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,789 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 38,820 | |
Total | 44,609 | |
Accumulated Depreciation | $ (790) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3475 International Park Drive [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,816 | |
Initial Cost, Land and Land Improvements | 3,134 | |
Initial Cost, Building and Building Improvements | 30,130 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 39 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,134 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,169 | |
Total | 33,303 | |
Accumulated Depreciation | $ (703) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 200 Michael Angelo Way [Member] | Austin, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,675 | |
Initial Cost, Land and Land Improvements | 3,132 | |
Initial Cost, Building and Building Improvements | 19,010 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 51 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,132 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,061 | |
Total | 22,193 | |
Accumulated Depreciation | $ (352) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3735 Imperial Way [Member] | Stockton, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,337 | |
Initial Cost, Land and Land Improvements | 2,287 | |
Initial Cost, Building and Building Improvements | 15,817 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,287 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,817 | |
Total | 18,104 | |
Accumulated Depreciation | $ (351) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1000 Williams Drive [Member] | Marietta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,220 | |
Initial Cost, Land and Land Improvements | 1,604 | |
Initial Cost, Building and Building Improvements | 5,329 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,604 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,329 | |
Total | 6,933 | |
Accumulated Depreciation | $ (27) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1001 Tradeport Drive [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 14,497 | |
Initial Cost, Land and Land Improvements | 3,052 | |
Initial Cost, Building and Building Improvements | 15,804 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,052 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,804 | |
Total | 18,856 | |
Accumulated Depreciation | $ (70) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10301 Busch Drive [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,628 | |
Initial Cost, Land and Land Improvements | 2,658 | |
Initial Cost, Building and Building Improvements | 13,081 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,658 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,081 | |
Total | 15,739 | |
Accumulated Depreciation | $ (61) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10400 Marina Drive [Member] | Olive Branch, MS [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,573 | |
Initial Cost, Land and Land Improvements | 2,111 | |
Initial Cost, Building and Building Improvements | 8,074 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,111 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,074 | |
Total | 10,185 | |
Accumulated Depreciation | $ (40) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1835 Airport Exchange Blvd [Member] | Erlanger, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,000 | |
Initial Cost, Land and Land Improvements | 323 | |
Initial Cost, Building and Building Improvements | 2,586 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 22 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 323 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,608 | |
Total | 2,931 | |
Accumulated Depreciation | $ (74) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10401 John Price Road [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,626 | |
Initial Cost, Land and Land Improvements | 404 | |
Initial Cost, Building and Building Improvements | 1,747 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 404 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,747 | |
Total | 2,151 | |
Accumulated Depreciation | $ (8) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10490 Busch Drive [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,016 | |
Initial Cost, Land and Land Improvements | 1,676 | |
Initial Cost, Building and Building Improvements | 4,982 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,676 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,982 | |
Total | 6,658 | |
Accumulated Depreciation | $ (26) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 10543 Canada Drive [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,184 | |
Initial Cost, Land and Land Improvements | 2,735 | |
Initial Cost, Building and Building Improvements | 9,996 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,735 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,996 | |
Total | 12,731 | |
Accumulated Depreciation | $ (46) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1100 Williams Drive [Member] | Marietta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,096 | |
Initial Cost, Land and Land Improvements | 1,348 | |
Initial Cost, Building and Building Improvements | 4,339 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,348 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,339 | |
Total | 5,687 | |
Accumulated Depreciation | $ (23) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 11350 Old Roswell Road [Member] | Roswell, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,668 | |
Initial Cost, Land and Land Improvements | 1,422 | |
Initial Cost, Building and Building Improvements | 7,407 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,422 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,407 | |
Total | 8,829 | |
Accumulated Depreciation | $ (45) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1200 Williams Drive [Member] | Marietta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,511 | |
Initial Cost, Land and Land Improvements | 968 | |
Initial Cost, Building and Building Improvements | 4,017 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 968 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,017 | |
Total | 4,985 | |
Accumulated Depreciation | $ (19) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1300 NW 167th Street [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,053 | |
Initial Cost, Land and Land Improvements | 930 | |
Initial Cost, Building and Building Improvements | 200 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 930 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 200 | |
Total | $ 1,130 | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4840 Winchester Blvd [Member] | Frederick, MD [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,300 | |
Initial Cost, Land and Land Improvements | 425 | |
Initial Cost, Building and Building Improvements | 2,522 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 584 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 425 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,106 | |
Total | 3,531 | |
Accumulated Depreciation | $ (97) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1365 NW 159th Street [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,488 | |
Initial Cost, Land and Land Improvements | 1,703 | |
Initial Cost, Building and Building Improvements | 4,155 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,703 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,155 | |
Total | 5,858 | |
Accumulated Depreciation | $ (17) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1400 NW 167th Street [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,025 | |
Initial Cost, Land and Land Improvements | 5,879 | |
Initial Cost, Building and Building Improvements | 18,428 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,879 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,428 | |
Total | 24,307 | |
Accumulated Depreciation | $ (89) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1401 Tradeport Drive [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 15,261 | |
Initial Cost, Land and Land Improvements | 4,120 | |
Initial Cost, Building and Building Improvements | 19,411 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,120 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,411 | |
Total | 23,531 | |
Accumulated Depreciation | $ (89) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1500 Tradeport Drive [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,761 | |
Initial Cost, Land and Land Improvements | 1,628 | |
Initial Cost, Building and Building Improvements | 7,773 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,628 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,773 | |
Total | 9,401 | |
Accumulated Depreciation | $ (35) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1550 Heil Quaker Blvd [Member] | La Vergne, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,704 | |
Initial Cost, Land and Land Improvements | 2,857 | |
Initial Cost, Building and Building Improvements | 11,214 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,857 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,214 | |
Total | 14,071 | |
Accumulated Depreciation | $ (54) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1600A NW 159th Street [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,256 | |
Initial Cost, Land and Land Improvements | 2,398 | |
Initial Cost, Building and Building Improvements | 5,742 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,398 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,742 | |
Total | 8,140 | |
Accumulated Depreciation | $ (25) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1600B NW 159th Street [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,960 | |
Initial Cost, Land and Land Improvements | 2,461 | |
Initial Cost, Building and Building Improvements | 6,351 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,461 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,351 | |
Total | 8,812 | |
Accumulated Depreciation | $ (27) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 16401 NW 8th Avenue [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,395 | |
Initial Cost, Land and Land Improvements | 1,628 | |
Initial Cost, Building and Building Improvements | 3,619 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,628 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,619 | |
Total | 5,247 | |
Accumulated Depreciation | $ (16) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 16501 NW 8th Avenue [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,421 | |
Initial Cost, Land and Land Improvements | 2,260 | |
Initial Cost, Building and Building Improvements | 4,504 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,260 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,504 | |
Total | 6,764 | |
Accumulated Depreciation | $ (20) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1706 Heil Quaker Blvd [Member] | La Vergne, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,186 | |
Initial Cost, Land and Land Improvements | 5,425 | |
Initial Cost, Building and Building Improvements | 19,245 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,425 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,245 | |
Total | 24,670 | |
Accumulated Depreciation | $ (99) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1725 Shelby Oaks Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,492 | |
Initial Cost, Land and Land Improvements | 1,100 | |
Initial Cost, Building and Building Improvements | 3,028 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,100 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,028 | |
Total | 4,128 | |
Accumulated Depreciation | $ (18) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1751 Shelby Oaks Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,955 | |
Initial Cost, Land and Land Improvements | 626 | |
Initial Cost, Building and Building Improvements | 2,620 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 626 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,620 | |
Total | 3,246 | |
Accumulated Depreciation | $ (12) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1801 Shelby Oaks Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,384 | |
Initial Cost, Land and Land Improvements | 1,182 | |
Initial Cost, Building and Building Improvements | 5,431 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,182 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,431 | |
Total | 6,613 | |
Accumulated Depreciation | $ (27) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1965 Shelby Oaks Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 599 | |
Initial Cost, Land and Land Improvements | 339 | |
Initial Cost, Building and Building Improvements | 696 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 339 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 696 | |
Total | 1,035 | |
Accumulated Depreciation | $ (4) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2000 N 62nd Street [Member] | Tampa, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,481 | |
Initial Cost, Land and Land Improvements | 2,110 | |
Initial Cost, Building and Building Improvements | 8,670 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,110 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,670 | |
Total | 10,780 | |
Accumulated Depreciation | $ (42) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 227 Gun Club Road [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,688 | |
Initial Cost, Land and Land Improvements | 868 | |
Initial Cost, Building and Building Improvements | 10,261 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 868 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,261 | |
Total | 11,129 | |
Accumulated Depreciation | $ (43) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2598 Empire Drive [Member] | Winston-Salem, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,375 | |
Initial Cost, Land and Land Improvements | 954 | |
Initial Cost, Building and Building Improvements | 4,952 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 954 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,952 | |
Total | 5,906 | |
Accumulated Depreciation | $ (25) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2702 Directors Row [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,853 | |
Initial Cost, Land and Land Improvements | 4,894 | |
Initial Cost, Building and Building Improvements | 18,533 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,894 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,533 | |
Total | 23,427 | |
Accumulated Depreciation | $ (84) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 275 Picketts Line [Member] | Newport News, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,847 | |
Initial Cost, Land and Land Improvements | 1,085 | |
Initial Cost, Building and Building Improvements | 6,140 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,085 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,140 | |
Total | 7,225 | |
Accumulated Depreciation | $ (29) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 301 Little Hearst Parkway [Member] | Port Wentworth, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 190 | |
Initial Cost, Building and Building Improvements | 16,575 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 190 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,575 | |
Total | 16,765 | |
Accumulated Depreciation | $ (65) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 301 West Park Lane [Member] | Hampton, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,251 | |
Initial Cost, Land and Land Improvements | 2,064 | |
Initial Cost, Building and Building Improvements | 12,393 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,064 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,393 | |
Total | 14,457 | |
Accumulated Depreciation | $ (59) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 309 Little Hearst Parkway [Member] | Port Wentworth, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,006 | |
Initial Cost, Land and Land Improvements | 523 | |
Initial Cost, Building and Building Improvements | 24,769 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2,569 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 523 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 27,338 | |
Total | 27,861 | |
Accumulated Depreciation | $ (97) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3262 Democrat Road [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,038 | |
Initial Cost, Land and Land Improvements | 2,533 | |
Initial Cost, Building and Building Improvements | 5,951 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,533 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,951 | |
Total | 8,484 | |
Accumulated Depreciation | $ (40) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3272 Democrat Road [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 815 | |
Initial Cost, Land and Land Improvements | 299 | |
Initial Cost, Building and Building Improvements | 749 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 299 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 749 | |
Total | 1,048 | |
Accumulated Depreciation | $ (5) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3276 Democrat Road [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,959 | |
Initial Cost, Land and Land Improvements | 1,445 | |
Initial Cost, Building and Building Improvements | 3,940 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,445 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,940 | |
Total | 5,385 | |
Accumulated Depreciation | $ (25) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3298 Democrat Road [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 922 | |
Initial Cost, Land and Land Improvements | 371 | |
Initial Cost, Building and Building Improvements | 799 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 371 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 799 | |
Total | 1,170 | |
Accumulated Depreciation | $ (5) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3338 Democrat Road [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,919 | |
Initial Cost, Land and Land Improvements | 1,793 | |
Initial Cost, Building and Building Improvements | 2,170 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,793 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,170 | |
Total | 3,963 | |
Accumulated Depreciation | $ (18) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3600 Vineland Road [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,669 | |
Initial Cost, Land and Land Improvements | 4,241 | |
Initial Cost, Building and Building Improvements | 13,551 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,241 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,551 | |
Total | 17,792 | |
Accumulated Depreciation | $ (63) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3900 Westpoint Blvd [Member] | Winston-Salem, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,735 | |
Initial Cost, Land and Land Improvements | 510 | |
Initial Cost, Building and Building Improvements | 3,338 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 510 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,338 | |
Total | 3,848 | |
Accumulated Depreciation | $ (16) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3909 Westpoint Blvd [Member] | Winston-Salem, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 899 | |
Initial Cost, Land and Land Improvements | 441 | |
Initial Cost, Building and Building Improvements | 1,361 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 441 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,361 | |
Total | 1,802 | |
Accumulated Depreciation | $ (9) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3929 Westpoint Blvd [Member] | Winston-Salem, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,501 | |
Initial Cost, Land and Land Improvements | 857 | |
Initial Cost, Building and Building Improvements | 6,272 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 857 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,272 | |
Total | 7,129 | |
Accumulated Depreciation | $ (29) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1605 NW 159th Street [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,569 | |
Initial Cost, Land and Land Improvements | 3,011 | |
Initial Cost, Building and Building Improvements | 6,953 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,011 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,953 | |
Total | 9,964 | |
Accumulated Depreciation | $ (30) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4099 Old Dixie Highway, Bldg 1 [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,375 | |
Initial Cost, Land and Land Improvements | 1,284 | |
Initial Cost, Building and Building Improvements | 6,592 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,284 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,592 | |
Total | 7,876 | |
Accumulated Depreciation | $ (33) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4099 Old Dixie Highway, Bldg 2 [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,668 | |
Initial Cost, Land and Land Improvements | 1,096 | |
Initial Cost, Building and Building Improvements | 9,351 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,096 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,351 | |
Total | 10,447 | |
Accumulated Depreciation | $ (42) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4216 Stuart Andrew Blvd [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,854 | |
Initial Cost, Land and Land Improvements | 689 | |
Initial Cost, Building and Building Improvements | 3,167 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 689 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,167 | |
Total | 3,856 | |
Accumulated Depreciation | $ (16) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 1700 Tradeport Drive [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,133 | |
Initial Cost, Land and Land Improvements | 1,819 | |
Initial Cost, Building and Building Improvements | 6,452 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,819 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,452 | |
Total | 8,271 | |
Accumulated Depreciation | $ (32) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4427 Pet Lane [Member] | Wesley Chapel, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,132 | |
Initial Cost, Land and Land Improvements | 1,566 | |
Initial Cost, Building and Building Improvements | 2,284 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,566 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,284 | |
Total | 3,850 | |
Accumulated Depreciation | $ (16) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4446 Pet Lane [Member] | Wesley Chapel, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,406 | |
Initial Cost, Land and Land Improvements | 277 | |
Initial Cost, Building and Building Improvements | 3,914 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 277 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,914 | |
Total | 4,191 | |
Accumulated Depreciation | $ (18) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4450 Pet Lane [Member] | Wesley Chapel, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,015 | |
Initial Cost, Land and Land Improvements | 228 | |
Initial Cost, Building and Building Improvements | 9,235 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 228 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,235 | |
Total | 9,463 | |
Accumulated Depreciation | $ (37) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4500 Home Run Blvd [Member] | Davenport, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,250 | |
Initial Cost, Land and Land Improvements | 3,560 | |
Initial Cost, Building and Building Improvements | 14,868 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,560 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,868 | |
Total | 18,428 | |
Accumulated Depreciation | $ (66) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4501 Home Run Blvd [Member] | Davenport, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 21,014 | |
Initial Cost, Land and Land Improvements | 4,763 | |
Initial Cost, Building and Building Improvements | 22,356 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 16 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,763 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 22,372 | |
Total | 27,135 | |
Accumulated Depreciation | $ (100) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4550 Home Run Blvd [Member] | Davenport, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,392 | |
Initial Cost, Land and Land Improvements | 1,454 | |
Initial Cost, Building and Building Improvements | 8,874 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,454 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,874 | |
Total | 10,328 | |
Accumulated Depreciation | $ (40) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4600 LB McLeod Road [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,867 | |
Initial Cost, Land and Land Improvements | 1,549 | |
Initial Cost, Building and Building Improvements | 5,482 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,549 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,482 | |
Total | 7,031 | |
Accumulated Depreciation | $ (24) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4610 Pet Lane [Member] | Wesley Chapel, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,532 | |
Initial Cost, Land and Land Improvements | 1,283 | |
Initial Cost, Building and Building Improvements | 5,023 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,283 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,023 | |
Total | 6,306 | |
Accumulated Depreciation | $ (24) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4614 Pet Lane [Member] | Wesley Chapel, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,425 | |
Initial Cost, Land and Land Improvements | 1,757 | |
Initial Cost, Building and Building Improvements | 8,021 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,757 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,021 | |
Total | 9,778 | |
Accumulated Depreciation | $ (40) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4640 LB McLeod Road [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,866 | |
Initial Cost, Land and Land Improvements | 1,444 | |
Initial Cost, Building and Building Improvements | 4,115 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,444 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,115 | |
Total | 5,559 | |
Accumulated Depreciation | $ (19) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4680 LB McLeod Road [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,019 | |
Initial Cost, Land and Land Improvements | 1,549 | |
Initial Cost, Building and Building Improvements | 2,334 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,549 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,334 | |
Total | 3,883 | |
Accumulated Depreciation | $ (12) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4700 Eubank Road [Member] | Richmond, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,942 | |
Initial Cost, Land and Land Improvements | 888 | |
Initial Cost, Building and Building Improvements | 6,888 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 888 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,888 | |
Total | 7,776 | |
Accumulated Depreciation | $ (31) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4800 Eubank Road [Member] | Richmond, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 13,120 | |
Initial Cost, Land and Land Improvements | 3,413 | |
Initial Cost, Building and Building Improvements | 21,839 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 2 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,413 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 21,841 | |
Total | 25,254 | |
Accumulated Depreciation | $ (104) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4800 Southridge Blvd [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,782 | |
Initial Cost, Land and Land Improvements | 1,777 | |
Initial Cost, Building and Building Improvements | 4,785 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,777 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,785 | |
Total | 6,562 | |
Accumulated Depreciation | $ (28) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4901 Southridge Blvd [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,283 | |
Initial Cost, Land and Land Improvements | 1,360 | |
Initial Cost, Building and Building Improvements | 4,721 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,360 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,721 | |
Total | 6,081 | |
Accumulated Depreciation | $ (26) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4903 Southridge Blvd [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,703 | |
Initial Cost, Land and Land Improvements | 1,289 | |
Initial Cost, Building and Building Improvements | 5,579 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,289 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,579 | |
Total | 6,868 | |
Accumulated Depreciation | $ (30) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4905 Southridge Blvd [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,545 | |
Initial Cost, Land and Land Improvements | 1,323 | |
Initial Cost, Building and Building Improvements | 4,540 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,323 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,540 | |
Total | 5,863 | |
Accumulated Depreciation | $ (25) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 4971 Southridge Blvd [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,674 | |
Initial Cost, Land and Land Improvements | 1,649 | |
Initial Cost, Building and Building Improvements | 5,985 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,649 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,985 | |
Total | 7,634 | |
Accumulated Depreciation | $ (32) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 500 Matrix Parkway [Member] | Piedmont, SC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,389 | |
Initial Cost, Land and Land Improvements | 1,165 | |
Initial Cost, Building and Building Improvements | 4,802 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,165 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,802 | |
Total | 5,967 | |
Accumulated Depreciation | $ (25) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 500 Northridge Park Drive [Member] | Rural Hall, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,279 | |
Initial Cost, Land and Land Improvements | 1,226 | |
Initial Cost, Building and Building Improvements | 8,023 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,226 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,023 | |
Total | 9,249 | |
Accumulated Depreciation | $ (39) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5101 Nelson Road [Member] | Raleigh, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,155 | |
Initial Cost, Land and Land Improvements | 915 | |
Initial Cost, Building and Building Improvements | 5,603 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 915 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,603 | |
Total | 6,518 | |
Accumulated Depreciation | $ (27) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5151 Nelson Road [Member] | Raleigh, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,372 | |
Initial Cost, Land and Land Improvements | 749 | |
Initial Cost, Building and Building Improvements | 6,459 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 749 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,459 | |
Total | 7,208 | |
Accumulated Depreciation | $ (30) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 520 Eagleton Downs Drive [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,735 | |
Initial Cost, Land and Land Improvements | 437 | |
Initial Cost, Building and Building Improvements | 1,577 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 437 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,577 | |
Total | 2,014 | |
Accumulated Depreciation | $ (9) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 520 Northridge Park Drive [Member] | Rural Hall, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,007 | |
Initial Cost, Land and Land Improvements | 1,432 | |
Initial Cost, Building and Building Improvements | 8,694 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,432 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,694 | |
Total | 10,126 | |
Accumulated Depreciation | $ (43) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5200 Anthony Road [Member] | Sandston, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,000 | |
Initial Cost, Land and Land Improvements | 1,799 | |
Initial Cost, Building and Building Improvements | 9,087 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,799 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,087 | |
Total | 10,886 | |
Accumulated Depreciation | $ (46) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 521 Eagleton Downs Drive [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,365 | |
Initial Cost, Land and Land Improvements | 302 | |
Initial Cost, Building and Building Improvements | 3,195 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 302 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,195 | |
Total | 3,497 | |
Accumulated Depreciation | $ (14) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5280 Meltech Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,326 | |
Initial Cost, Land and Land Improvements | 2,312 | |
Initial Cost, Building and Building Improvements | 5,978 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,312 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,978 | |
Total | 8,290 | |
Accumulated Depreciation | $ (35) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5300 S. Laburnum Ave [Member] | Richmond, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,185 | |
Initial Cost, Land and Land Improvements | 515 | |
Initial Cost, Building and Building Improvements | 5,380 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 515 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,380 | |
Total | 5,895 | |
Accumulated Depreciation | $ (31) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 540 Northridge Park Drive [Member] | Rural Hall, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,921 | |
Initial Cost, Land and Land Improvements | 1,971 | |
Initial Cost, Building and Building Improvements | 9,903 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,971 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,903 | |
Total | 11,874 | |
Accumulated Depreciation | $ (52) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5400 Meltech Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,998 | |
Initial Cost, Land and Land Improvements | 2,207 | |
Initial Cost, Building and Building Improvements | 6,846 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,207 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,846 | |
Total | 9,053 | |
Accumulated Depreciation | $ (38) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5401 Lewis Road [Member] | Sandston, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,493 | |
Initial Cost, Land and Land Improvements | 897 | |
Initial Cost, Building and Building Improvements | 3,903 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 897 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,903 | |
Total | 4,800 | |
Accumulated Depreciation | $ (20) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5440 Oakbrook Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,066 | |
Initial Cost, Land and Land Improvements | 973 | |
Initial Cost, Building and Building Improvements | 5,466 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 973 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,466 | |
Total | 6,439 | |
Accumulated Depreciation | $ (26) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 550 Northridge Park Drive [Member] | Rural Hall, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,108 | |
Initial Cost, Land and Land Improvements | 416 | |
Initial Cost, Building and Building Improvements | 2,489 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 416 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,489 | |
Total | 2,905 | |
Accumulated Depreciation | $ (13) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 560 Zoo Parkway [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 4,458 | |
Initial Cost, Land and Land Improvements | 1,163 | |
Initial Cost, Building and Building Improvements | 5,239 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,163 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,239 | |
Total | 6,402 | |
Accumulated Depreciation | $ (25) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5675 Oakbrook Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,701 | |
Initial Cost, Land and Land Improvements | 748 | |
Initial Cost, Building and Building Improvements | 4,333 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 748 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,333 | |
Total | 5,081 | |
Accumulated Depreciation | $ (22) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5695 Oakbrook Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,566 | |
Initial Cost, Land and Land Improvements | 674 | |
Initial Cost, Building and Building Improvements | 2,730 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 674 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,730 | |
Total | 3,404 | |
Accumulated Depreciation | $ (15) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5715 Oakbrook Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,377 | |
Initial Cost, Land and Land Improvements | 840 | |
Initial Cost, Building and Building Improvements | 4,012 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 840 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,012 | |
Total | 4,852 | |
Accumulated Depreciation | $ (20) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 601 Eagleton Downs Drive [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,087 | |
Initial Cost, Land and Land Improvements | 389 | |
Initial Cost, Building and Building Improvements | 2,574 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 389 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,574 | |
Total | 2,963 | |
Accumulated Depreciation | $ (12) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6101 Cane Run Road [Member] | Louisville, KY [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,813 | |
Initial Cost, Land and Land Improvements | 3,607 | |
Initial Cost, Building and Building Improvements | 10,097 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,607 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,097 | |
Total | 13,704 | |
Accumulated Depreciation | $ (53) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6190 Regency Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,839 | |
Initial Cost, Land and Land Improvements | 1,074 | |
Initial Cost, Building and Building Improvements | 4,347 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,074 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,347 | |
Total | 5,421 | |
Accumulated Depreciation | $ (26) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6215 Regency Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,151 | |
Initial Cost, Land and Land Improvements | 368 | |
Initial Cost, Building and Building Improvements | 2,026 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 368 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,026 | |
Total | 2,394 | |
Accumulated Depreciation | $ (12) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6230 Regency Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 962 | |
Initial Cost, Land and Land Improvements | 336 | |
Initial Cost, Building and Building Improvements | 1,763 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 336 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 1,763 | |
Total | 2,099 | |
Accumulated Depreciation | $ (10) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6269 Shelby Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 5,563 | |
Initial Cost, Land and Land Improvements | 2,757 | |
Initial Cost, Building and Building Improvements | 5,480 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,757 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,480 | |
Total | 8,237 | |
Accumulated Depreciation | $ (36) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6290 Jimmy Carter Blvd [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,381 | |
Initial Cost, Land and Land Improvements | 733 | |
Initial Cost, Building and Building Improvements | 4,521 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 733 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,521 | |
Total | 5,254 | |
Accumulated Depreciation | $ (21) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6300 Jimmy Carter Blvd [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,829 | |
Initial Cost, Land and Land Improvements | 562 | |
Initial Cost, Building and Building Improvements | 2,308 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 562 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,308 | |
Total | 2,870 | |
Accumulated Depreciation | $ (12) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6325 Regency Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,309 | |
Initial Cost, Land and Land Improvements | 397 | |
Initial Cost, Building and Building Improvements | 2,235 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 397 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,235 | |
Total | 2,632 | |
Accumulated Depreciation | $ (13) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6350 Regency Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,293 | |
Initial Cost, Land and Land Improvements | 429 | |
Initial Cost, Building and Building Improvements | 2,046 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 429 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,046 | |
Total | 2,475 | |
Accumulated Depreciation | $ (12) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6375 Regency Parkway [Member] | Norcross, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 1,735 | |
Initial Cost, Land and Land Improvements | 563 | |
Initial Cost, Building and Building Improvements | 875 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 563 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 875 | |
Total | 1,438 | |
Accumulated Depreciation | $ (7) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6399 Shelby View Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,150 | |
Initial Cost, Land and Land Improvements | 2,060 | |
Initial Cost, Building and Building Improvements | 6,344 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,060 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,344 | |
Total | 8,404 | |
Accumulated Depreciation | $ (42) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6400 Shelby View Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,412 | |
Initial Cost, Land and Land Improvements | 1,839 | |
Initial Cost, Building and Building Improvements | 8,067 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,839 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 8,067 | |
Total | 9,906 | |
Accumulated Depreciation | $ (52) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6419 Shelby View Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,213 | |
Initial Cost, Land and Land Improvements | 2,110 | |
Initial Cost, Building and Building Improvements | 5,437 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,110 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 5,437 | |
Total | 7,547 | |
Accumulated Depreciation | $ (39) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6423 Shelby View Drive [Member] | Memphis, TN [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,403 | |
Initial Cost, Land and Land Improvements | 1,168 | |
Initial Cost, Building and Building Improvements | 7,233 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,168 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 7,233 | |
Total | 8,401 | |
Accumulated Depreciation | $ (34) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 646 Michael Wylie Road [Member] | Charlotte, NC [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,932 | |
Initial Cost, Land and Land Improvements | 601 | |
Initial Cost, Building and Building Improvements | 3,495 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 601 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,495 | |
Total | 4,096 | |
Accumulated Depreciation | $ (17) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 711 Hoagland Blvd [Member] | Kissimmee, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,236 | |
Initial Cost, Land and Land Improvements | 212 | |
Initial Cost, Building and Building Improvements | 9,857 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 212 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,857 | |
Total | 10,069 | |
Accumulated Depreciation | $ (42) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 780 Whittaker Road [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,827 | |
Initial Cost, Land and Land Improvements | 2,505 | |
Initial Cost, Building and Building Improvements | 15,947 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,505 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,947 | |
Total | 18,452 | |
Accumulated Depreciation | $ (74) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 8650 Transport Drive [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,515 | |
Initial Cost, Land and Land Improvements | 3,684 | |
Initial Cost, Building and Building Improvements | 18,694 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,684 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,694 | |
Total | 22,378 | |
Accumulated Depreciation | $ (91) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 9410 Parker Ave [Member] | Jacksonville, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 3,896 | |
Initial Cost, Land and Land Improvements | 610 | |
Initial Cost, Building and Building Improvements | 4,613 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 610 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,613 | |
Total | 5,223 | |
Accumulated Depreciation | $ (21) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 955 NW 159th Drive [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 2,359 | |
Initial Cost, Land and Land Improvements | 954 | |
Initial Cost, Building and Building Improvements | 2,593 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 954 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 2,593 | |
Total | 3,547 | |
Accumulated Depreciation | $ (11) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | Stockton Distribution Center [Member] | Stockton, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 11,025 | |
Initial Cost, Building and Building Improvements | 73,001 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 11,025 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 73,001 | |
Total | 84,026 | |
Accumulated Depreciation | $ (123) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 125 Royal Woods Ct. [Member] | Tucker GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 879 | |
Initial Cost, Building and Building Improvements | 3,391 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 879 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,391 | |
Total | 4,270 | |
Accumulated Depreciation | $ (6) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 6601 S. Laburnum Ave [Member] | Richmond, VA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 7,515 | |
Initial Cost, Land and Land Improvements | 1,464 | |
Initial Cost, Building and Building Improvements | 11,053 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,464 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,053 | |
Total | 12,517 | |
Accumulated Depreciation | $ (52) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2145 East View Parkway [Member] | Conyers, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 634 | |
Initial Cost, Building and Building Improvements | 4,435 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 634 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,435 | |
Total | 5,069 | |
Accumulated Depreciation | $ (8) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 2725 Mountain Industrial Blvd [Member] | Tucker GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 505 | |
Initial Cost, Building and Building Improvements | 3,056 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 505 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,056 | |
Total | 3,561 | |
Accumulated Depreciation | $ (5) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3645 Southside Industrial Pky [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 418 | |
Initial Cost, Building and Building Improvements | 4,462 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 418 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,462 | |
Total | 4,880 | |
Accumulated Depreciation | $ (7) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5238 Royal Woods Pky [Member] | Tucker GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 1,199 | |
Initial Cost, Building and Building Improvements | 3,713 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,199 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,713 | |
Total | 4,912 | |
Accumulated Depreciation | $ (7) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5242 Royal Woods Pky [Member] | Tucker GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 762 | |
Initial Cost, Building and Building Improvements | 3,039 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 762 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 3,039 | |
Total | 3,801 | |
Accumulated Depreciation | $ (5) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 5243 Royal Woods Pky [Member] | Tucker GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 1,167 | |
Initial Cost, Building and Building Improvements | 4,070 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,167 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 4,070 | |
Total | 5,237 | |
Accumulated Depreciation | $ (7) | |
Year Acquired | 2018 | |
Industrial Properties [Member] | 3655 Southside Industrial Pky [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 634 | |
Initial Cost, Building and Building Improvements | 6,064 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 634 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 6,064 | |
Total | 6,698 | |
Accumulated Depreciation | $ (10) | |
Year Acquired | 2018 | |
Hotel [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 728,875 | |
Initial Cost, Land and Land Improvements | 161,937 | |
Initial Cost, Building and Building Improvements | 980,618 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 240 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 6,527 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 162,177 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 987,145 | |
Total | 1,149,322 | |
Accumulated Depreciation | (33,719) | |
Hotel [Member] | Hyatt Place Uc Davis [Member] | Davis, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | 20,500 | |
Initial Cost, Land and Land Improvements | 526 | |
Initial Cost, Building and Building Improvements | 24,778 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 14 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 750 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 540 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 25,528 | |
Total | 26,068 | |
Accumulated Depreciation | $ (3,822) | |
Year Acquired | 2017 | |
Hotel [Member] | Hyatt Place San Jose Downtown [Member] | San Jose, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 42,600 | |
Initial Cost, Land and Land Improvements | 18,372 | |
Initial Cost, Building and Building Improvements | 43,476 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 19 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,435 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 18,391 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 44,911 | |
Total | 63,302 | |
Accumulated Depreciation | $ (3,712) | |
Year Acquired | 2017 | |
Hotel [Member] | Hampton Inn & Suites Oldsmar [Member] | Oldsmar, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,300 | |
Initial Cost, Land and Land Improvements | 2,088 | |
Initial Cost, Building and Building Improvements | 13,234 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 17 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 122 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,105 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 13,356 | |
Total | 15,461 | |
Accumulated Depreciation | $ (1,179) | |
Year Acquired | 2017 | |
Hotel [Member] | Hilton Garden Inn Oldsmar [Member] | Oldsmar, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,000 | |
Initial Cost, Land and Land Improvements | 1,069 | |
Initial Cost, Building and Building Improvements | 8,724 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 278 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,069 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 9,002 | |
Total | 10,071 | |
Accumulated Depreciation | $ (776) | |
Year Acquired | 2017 | |
Hotel [Member] | Hilton Garden Inn Tampa North [Member] | Temple Terrace, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 6,800 | |
Initial Cost, Land and Land Improvements | 2,706 | |
Initial Cost, Building and Building Improvements | 12,351 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 87 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 473 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,793 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 12,824 | |
Total | 15,617 | |
Accumulated Depreciation | $ (1,718) | |
Year Acquired | 2017 | |
Hotel [Member] | Hyatt Place Lake Mary [Member] | Lake Mary, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,000 | |
Initial Cost, Land and Land Improvements | 1,941 | |
Initial Cost, Building and Building Improvements | 10,979 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 3 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 45 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,944 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,024 | |
Total | 12,968 | |
Accumulated Depreciation | $ (1,084) | |
Year Acquired | 2017 | |
Hotel [Member] | Hyatt House Downtown Atlanta [Member] | Atlanta, GA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 21,200 | |
Initial Cost, Land and Land Improvements | 5,714 | |
Initial Cost, Building and Building Improvements | 26,296 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 200 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,714 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,496 | |
Total | 32,210 | |
Accumulated Depreciation | $ (2,142) | |
Year Acquired | 2017 | |
Hotel [Member] | Courtyard Worcester [Member] | Worcester, MA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 14,200 | |
Initial Cost, Land and Land Improvements | 1,646 | |
Initial Cost, Building and Building Improvements | 20,149 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 82 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,646 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 20,231 | |
Total | 21,877 | |
Accumulated Depreciation | $ (1,673) | |
Year Acquired | 2017 | |
Hotel [Member] | Hampton Inn & Suites Worcester [Member] | Worcester, MA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,900 | |
Initial Cost, Land and Land Improvements | 738 | |
Initial Cost, Building and Building Improvements | 14,663 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 738 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,666 | |
Total | 15,404 | |
Accumulated Depreciation | $ (867) | |
Year Acquired | 2017 | |
Hotel [Member] | Towne Place Suites Logan Airport [Member] | Chelsea, MA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 24,700 | |
Initial Cost, Land and Land Improvements | 1,825 | |
Initial Cost, Building and Building Improvements | 37,505 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,825 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 37,505 | |
Total | 39,330 | |
Accumulated Depreciation | $ (2,002) | |
Year Acquired | 2017 | |
Hotel [Member] | SpringHill Suites Henderson [Member] | Henderson, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 11,000 | |
Initial Cost, Land and Land Improvements | 1,764 | |
Initial Cost, Building and Building Improvements | 15,779 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 10 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,764 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 15,789 | |
Total | 17,553 | |
Accumulated Depreciation | $ (583) | |
Year Acquired | 2018 | |
Hotel [Member] | Towneplace Suites Henderson [Member] | Henderson, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,400 | |
Initial Cost, Land and Land Improvements | 1,576 | |
Initial Cost, Building and Building Improvements | 14,188 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 4 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,576 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,192 | |
Total | 15,768 | |
Accumulated Depreciation | $ (508) | |
Year Acquired | 2018 | |
Hotel [Member] | SpringHill Suites - Orlando-Millenia [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 2,836 | |
Initial Cost, Building and Building Improvements | 19,097 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,836 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 19,097 | |
Total | 21,933 | |
Accumulated Depreciation | $ (817) | |
Year Acquired | 2018 | |
Hotel [Member] | Residence Inn - Orlando-Millenia [Member] | Orlando FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 2,786 | |
Initial Cost, Building and Building Improvements | 18,706 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,786 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,706 | |
Total | 21,492 | |
Accumulated Depreciation | $ (770) | |
Year Acquired | 2018 | |
Hotel [Member] | Aloft Hotel Phoenix Airport [Member] | Phoenix, AZ [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,400 | |
Initial Cost, Land and Land Improvements | 3,265 | |
Initial Cost, Building and Building Improvements | 14,456 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 3,265 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,456 | |
Total | 17,721 | |
Accumulated Depreciation | $ (481) | |
Year Acquired | 2018 | |
Hotel [Member] | Fairfield Inn & Suites Tampa [Member] | Tampa, FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 8,300 | |
Initial Cost, Land and Land Improvements | 1,746 | |
Initial Cost, Building and Building Improvements | 11,796 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,746 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 11,799 | |
Total | 13,545 | |
Accumulated Depreciation | $ (282) | |
Year Acquired | 2018 | |
Hotel [Member] | Hampton Inn & Suites Rohnert Park [Member] | Rohnert Park, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 16,300 | |
Initial Cost, Land and Land Improvements | 2,538 | |
Initial Cost, Building and Building Improvements | 26,306 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,538 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 26,306 | |
Total | 28,844 | |
Accumulated Depreciation | $ (532) | |
Year Acquired | 2018 | |
Hotel [Member] | Hilton Garden Inn Reno [Member] | Reno, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 17,300 | |
Initial Cost, Land and Land Improvements | 2,462 | |
Initial Cost, Building and Building Improvements | 31,127 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 37 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,462 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 31,164 | |
Total | 33,626 | |
Accumulated Depreciation | $ (641) | |
Year Acquired | 2018 | |
Hotel [Member] | Hyatt Place Salt Lake City [Member] | Salt Lake City, UT [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 10,100 | |
Initial Cost, Land and Land Improvements | 983 | |
Initial Cost, Building and Building Improvements | 16,534 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 983 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 16,534 | |
Total | 17,517 | |
Accumulated Depreciation | $ (283) | |
Year Acquired | 2018 | |
Hotel [Member] | JW Marriott San Antonio Hill Country Resort [Member] | San Antonio, TX [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 405,000 | |
Initial Cost, Land and Land Improvements | 84,218 | |
Initial Cost, Building and Building Improvements | 474,529 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 100 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 3,085 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 84,318 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 477,614 | |
Total | 561,932 | |
Accumulated Depreciation | $ (9,075) | |
Year Acquired | 2018 | |
Hotel [Member] | Hampton Inn & Suites Federal Way [Member] | Federal Way, WA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 2,894 | |
Initial Cost, Building and Building Improvements | 30,395 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 2,894 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 30,395 | |
Total | 33,289 | |
Accumulated Depreciation | $ (281) | |
Year Acquired | 2018 | |
Hotel [Member] | Staybridge Suites Reno [Member] | Reno, NV [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Initial Cost, Land and Land Improvements | $ 1,705 | |
Initial Cost, Building and Building Improvements | 14,754 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 1,705 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,754 | |
Total | 16,459 | |
Accumulated Depreciation | $ (141) | |
Year Acquired | 2018 | |
Hotel [Member] | Courtyard Salt Lake City Downtown [Member] | Salt Lake City, UT [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 33,603 | |
Initial Cost, Land and Land Improvements | 5,502 | |
Initial Cost, Building and Building Improvements | 43,266 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 5,502 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 43,266 | |
Total | 48,768 | |
Accumulated Depreciation | $ (154) | |
Year Acquired | 2018 | |
Hotel [Member] | Fairfield Inn & Suites Salt Lake City Downtown [Member] | Salt Lake City, UT [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 12,563 | |
Initial Cost, Land and Land Improvements | 6,146 | |
Initial Cost, Building and Building Improvements | 10,321 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 6,146 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 10,321 | |
Total | 16,467 | |
Accumulated Depreciation | $ (55) | |
Year Acquired | 2018 | |
Hotel [Member] | Hyatt House Salt Lake City Downtown [Member] | Salt Lake City, UT [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,709 | |
Initial Cost, Land and Land Improvements | 4,891 | |
Initial Cost, Building and Building Improvements | 27,209 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 4,891 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 27,209 | |
Total | 32,100 | |
Accumulated Depreciation | $ (141) | |
Year Acquired | 2018 | |
Retail [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 79,640 | |
Initial Cost, Land and Land Improvements | 60,520 | |
Initial Cost, Building and Building Improvements | 65,147 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 19 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,551 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 60,539 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 66,698 | |
Total | 127,237 | |
Accumulated Depreciation | (3,916) | |
Retail [Member] | Bakers Centre [Member] | Philadelphia, PA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | 32,000 | |
Initial Cost, Land and Land Improvements | 19,335 | |
Initial Cost, Building and Building Improvements | 31,833 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 1,406 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 19,335 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 33,239 | |
Total | 52,574 | |
Accumulated Depreciation | $ (2,316) | |
Year Acquired | 2017 | |
Retail [Member] | Plaza Del Sol Retail [Member] | Burbank, CA [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 27,390 | |
Initial Cost, Land and Land Improvements | 24,100 | |
Initial Cost, Building and Building Improvements | 18,318 | |
Costs Capitalized Subsequent to Acquisition, Building and Building Improvements | 145 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 24,100 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 18,463 | |
Total | 42,563 | |
Accumulated Depreciation | $ (1,315) | |
Year Acquired | 2017 | |
Retail [Member] | Vista Center [Member] | Miami FL [Member] | ||
Real Estate And Accumulated Depreciation [Line Items] | ||
Encumbrances | $ 20,250 | |
Initial Cost, Land and Land Improvements | 17,085 | |
Initial Cost, Building and Building Improvements | 14,996 | |
Costs Capitalized Subsequent to Acquisition, Land and Land Improvements | 19 | |
Gross Amounts at which Carried at the Close of Period, Land and Land Improvements | 17,104 | |
Gross Amounts at which Carried at the Close of Period, Building and Building Improvements | 14,996 | |
Total | 32,100 | |
Accumulated Depreciation | $ (285) | |
Year Acquired | 2018 |
Real Estate and Accumulated D_3
Real Estate and Accumulated Depreciation - Schedule of Real Estate and Accumulated Depreciation (Detail) (Parenthetical) $ in Billions | Dec. 31, 2018USD ($) |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | |
Aggregate cost basis for tax purposes | $ 10.8 |
Real Estate and Accumulated D_4
Real Estate and Accumulated Depreciation - Additional Information (Detail) - Furniture, Fixtures and Equipment [Member] $ in Millions | Dec. 31, 2018USD ($) |
Real Estate And Accumulated Depreciation [Line Items] | |
Amount of property excluded from real estate investments | $ 182.4 |
Amount of accumulated deprecation excluded from real estate accumulated depreciation | $ 17.6 |
Real Estate and Accumulated D_5
Real Estate and Accumulated Depreciation - Summary of Activity for Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate: | ||
Balance at the beginning of year | $ 3,389,601 | |
Land and land improvements | 1,387,724 | $ 574,253 |
Building and building improvements | 5,574,516 | 2,815,348 |
Balance at the end of the year | 10,351,841 | 3,389,601 |
Accumulated Depreciation: | ||
Balance at the beginning of year | (44,184) | |
Accumulated depreciation | (212,827) | (44,184) |
Balance at the end of the year | $ (257,011) | $ (44,184) |