Essential Properties Realty Trust (EPRT) 10-K 14 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 14, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38530
Entity Registrant Name	Essential Properties Realty Trust, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	82-4005693
Entity Address, Address Line One	902 Carnegie Center Blvd.
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
City Area Code	609
Local Phone Number	436-0619
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	EPRT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 3.6
Entity Common Stock, Shares Outstanding (in shares)		166,102,747
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for the registrant's 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this report. The registrant expects to file such proxy statement within 120 days after the end of its fiscal year.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001728951

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Auditor Information [Abstract]
Auditor Firm ID	248	248	248
Auditor Name	GRANT THORNTON LLP	GRANT THORNTON LLP	GRANT THORNTON LLP
Auditor Location	New York, New York	New York, New York	New York, New York

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Real estate investments, at cost:
Land and improvements		$ 1,542,302	$ 1,228,687
Building and improvements		2,938,012	2,440,630
Lease incentives		17,890	18,352
Construction in progress		96,524	34,537
Intangible lease assets		89,209	88,364
Total real estate investments, at cost		4,683,937	3,810,570
Less: accumulated depreciation and amortization		(367,133)	(276,307)
Total real estate investments, net		4,316,804	3,534,263
Loans and direct financing lease receivables, net		223,854	240,035
Real estate investments held for sale, net		7,455	4,780
Net investments		4,548,113	3,779,078
Cash and cash equivalents		39,807	62,345
Restricted cash		9,156	9,155
Straight-line rent receivable, net		107,545	78,587
Derivative assets		30,980	47,877
Rent receivables, prepaid expenses and other assets, net		32,660	22,991
Total assets	[1]	4,768,261	4,000,033
LIABILITIES AND EQUITY
Unsecured term loans, net of deferred financing costs		1,272,772	1,025,492
Senior unsecured notes, net		395,846	395,286
Revolving credit facility		0	0
Intangible lease liabilities, net		11,206	11,551
Dividend payable		47,182	39,398
Derivative liabilities		23,005	2,274
Accrued liabilities and other payables		31,248	29,261
Total liabilities	[1]	1,781,259	1,503,262
Commitments and contingencies (see Note 11)		0	0
Stockholders' equity:
Preferred stock, $0.01 par value; 150,000,000 authorized; none issued and outstanding as of December 31, 2023 and 2022		0	0
Common stock, $0.01 par value; 500,000,000 authorized; 164,635,150 and 142,379,655 issued and outstanding as of December 31, 2023 and 2022, respectively		1,646	1,424
Additional paid-in capital		3,078,459	2,563,305
Distributions in excess of cumulative earnings		(105,545)	(117,187)
Accumulated other comprehensive income		4,019	40,719
Total stockholders' equity		2,978,579	2,488,261
Non-controlling interests		8,423	8,510
Total equity		2,987,002	2,496,771
Total liabilities and equity		$ 4,768,261	$ 4,000,033
[1] The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs"). See Note 2 — Summary of Significant Accounting Policies. As of December 31, 2023 and 2022, all of the assets and liabilities of the Company were held by its operating partnership, a consolidated VIE, with the exception of $47.0 million and $39.2 million, respectively, of dividends payable.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Preferred shares, par value per share (in USD per share)	$ 0.01	$ 0.01
Preferred shares, authorized shares (in shares)	150,000,000	150,000,000
Preferred shares, issued shares (in shares)	0	0
Preferred shares, outstanding shares (in shares)	0	0
Common shares, par value per share (in USD per share)	$ 0.01	$ 0.01
Common shares, authorized shares (in shares)	500,000,000	500,000,000
Common shares, issued shares (in shares)	164,635,150	142,379,655
Common shares, outstanding shares (in shares)	164,635,150	142,379,655
Dividend payable	$ 47,182	$ 39,398
Consolidated entity, excluding VIE
Dividend payable	$ 47,000	$ 39,200

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Rental revenue	$ 339,897	$ 269,827	$ 213,327
Interest on loans and direct financing lease receivables	18,128	15,499	15,710
Other revenue, net	1,570	1,180	1,197
Total revenues	359,595	286,506	230,234
Expenses:
General and administrative	30,678	29,464	24,329
Property expenses	4,663	3,452	5,762
Depreciation and amortization	102,219	88,562	69,146
Provision for impairment of real estate	3,548	20,164	6,120
Change in provision for credit losses	(99)	88	(204)
Total expenses	141,009	141,730	105,153
Other operating income:
Gain on dispositions of real estate, net	24,167	30,647	9,338
Income from operations	242,753	175,423	134,419
Other (expense)/income:
Loss on debt extinguishment	(116)	(2,138)	(4,461)
Interest expense	(52,597)	(40,370)	(33,614)
Interest income	2,011	2,825	94
Income before income tax expense	192,051	135,740	96,438
Income tax expense	636	998	227
Net income	191,415	134,742	96,211
Net income attributable to non-controlling interests	(708)	(612)	(486)
Net income attributable to stockholders	$ 190,707	$ 134,130	$ 95,725
Basic weighted average shares outstanding (in shares)	152,140,735	134,941,188	116,358,059
Basic net income per share (in USD per share)	$ 1.25	$ 0.99	$ 0.82
Diluted weighted average shares outstanding (in shares)	153,521,854	135,855,916	117,466,338
Diluted net income per share (in USD per share)	$ 1.24	$ 0.99	$ 0.82

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 191,415	$ 134,742	$ 96,211
Other comprehensive income:
Deferred loss on cash flow hedges	0	0	(4,824)
Unrealized (loss) gain on cash flow hedges	(9,187)	56,736	17,273
Cash flow hedge loss reclassified to interest expense	(27,687)	26	10,059
Total other comprehensive (loss) income	(36,874)	56,762	22,508
Comprehensive income	154,541	191,504	118,719
Net income attributable to non-controlling interests	(708)	(612)	(486)
Adjustment for other comprehensive income (loss) attributable to non-controlling interests	174	(1,257)	(113)
Comprehensive income attributable to stockholders	$ 154,007	$ 189,635	$ 118,120

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-In Capital	Distributions in Excess of Cumulative Earnings	Accumulated Other Comprehensive Income (Loss)	Non- Controlling Interests
Balance at beginning of period (in shares) at Dec. 31, 2020			106,361,524
Balance at beginning of period at Dec. 31, 2020	$ 1,581,948	$ 1,574,758	$ 1,064	$ 1,688,540	$ (77,665)	$ (37,181)	$ 7,190
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuance (in shares)			18,230,721
Common stock issuance	469,200	469,200	$ 182	469,018			0
Common stock withheld related to net share settlement of equity awards	(353)	(353)			(353)
Costs related to issuance of common stock	(12,153)	(12,153)		(12,153)
Other comprehensive income (loss)	22,508	22,395				22,395	113
Equity based compensation expense (in shares)			56,808
Equity based compensation expense	5,683	5,683	$ 0	5,683
Dividends declared on common stock and OP Units	(119,241)	(118,689)			(118,689)		(552)
Net income	96,211	95,725			95,725		486
Balance at end of period (in shares) at Dec. 31, 2021			124,649,053
Balance at end of period at Dec. 31, 2021	2,043,803	2,036,566	$ 1,246	2,151,088	(100,982)	(14,786)	7,237
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuance (in shares)			17,576,684
Common stock issuance	413,845	413,845	$ 178	413,667
Common stock withheld related to net share settlement of equity awards	(2,452)	(2,452)			(2,452)
Costs related to issuance of common stock	(10,939)	(10,939)		(10,939)
Other comprehensive income (loss)	56,762	55,505				55,505	1,257
Equity based compensation expense (in shares)			153,918
Equity based compensation expense	9,489	9,489		9,489
Dividends declared on common stock and OP Units	(148,479)	(147,883)			(147,883)		(596)
Net income	$ 134,742	134,130			134,130		612
Balance at end of period (in shares) at Dec. 31, 2022	142,379,655		142,379,655
Balance at end of period at Dec. 31, 2022	$ 2,496,771	2,488,261	$ 1,424	2,563,305	(117,187)	40,719	8,510
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuance (in shares)			21,971,744
Common stock issuance	507,380	507,380	$ 219	507,161
Common stock withheld related to net share settlement of equity awards	(3,671)	(3,671)			(3,671)
Costs related to issuance of common stock	(1,010)	(1,010)		(1,010)
Other comprehensive income (loss)	(36,874)	(36,700)				(36,700)	(174)
Equity based compensation expense (in shares)			283,751
Equity based compensation expense	9,006	9,006	$ 3	9,003
Dividends declared on common stock and OP Units	(176,015)	(175,394)			(175,394)		(621)
Net income	$ 191,415	190,707			190,707		708
Balance at end of period (in shares) at Dec. 31, 2023	164,635,150		164,635,150
Balance at end of period at Dec. 31, 2023	$ 2,987,002	$ 2,978,579	$ 1,646	$ 3,078,459	$ (105,545)	$ 4,019	$ 8,423

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 191,415	$ 134,742	$ 96,211
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	102,219	88,562	69,146
Amortization of lease incentives	1,782	3,480	3,074
Amortization of above/below market leases and right of use assets, net	(275)	(217)	749
Amortization of deferred financing costs and other non-cash interest expense	3,863	3,099	2,738
Loss on debt extinguishment	116	2,138	4,461
Provision for impairment of real estate	3,548	20,164	6,120
Change in provision for credit losses	(99)	88	(204)
Gain on dispositions of real estate, net	(24,167)	(30,647)	(9,338)
Straight-line rent receivable, net	(28,285)	(20,811)	(20,160)
Equity based compensation expense	9,006	9,489	5,683
Adjustment to rental revenue for tenant credit	640	371	(2,900)
Payments made in settlement of cash flow hedges	0	0	(4,836)
Changes in other assets and liabilities:
Rent receivables, prepaid expenses and other assets, net	(5,956)	4,507	2,216
Accrued liabilities and other payables	767	(3,943)	14,433
Net cash provided by operating activities	254,574	211,022	167,393
Cash flows from investing activities:
Proceeds from sales of investments, net	128,598	126,610	58,381
Principal collections on loans and direct financing lease receivables	27,908	70,439	100,488
Investments in loans receivable	(13,091)	(115,016)	(136,391)
Deposits for prospective real estate investments	189	(26)	(590)
Investment in real estate, including capital expenditures	(894,550)	(728,727)	(840,027)
Investment in construction in progress	(105,075)	(51,870)	(9,348)
Lease incentives paid	(1,104)	(7,488)	(2,197)
Net cash used in investing activities	(857,125)	(706,078)	(829,684)
Cash flows from financing activities:
Repayment of secured borrowings	0	0	(175,781)
Borrowings under term loans	247,972	397,523	0
Borrowings under revolving credit facility	70,000	299,000	393,000
Repayments under revolving credit facility	(70,000)	(443,000)	(267,000)
Proceeds from issuance of senior unsecured notes	0	0	396,600
Proceeds from issuance of common stock, net	507,318	403,884	458,267
Payments for taxes related to net settlement of equity awards	(3,671)	(2,452)	(353)
Payment of debt extinguishment costs	0	(467)	0
Deferred financing costs	(2,426)	(4,991)	(2,120)
Offering costs	(948)	(1,008)	(1,220)
Dividends paid	(168,231)	(141,691)	(112,334)
Net cash provided by financing activities	580,014	506,798	689,059
Net (decrease) increase in cash and cash equivalents and restricted cash	(22,537)	11,742	26,768
Cash and cash equivalents and restricted cash, beginning of period	71,500	59,758	32,990
Cash and cash equivalents and restricted cash, end of period	48,963	71,500	59,758
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents	39,807	62,345	59,758
Restricted cash	9,156	9,155	0
Cash and cash equivalents and restricted cash, end of period	48,963	71,500	59,758
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	49,587	36,832	24,162
Cash paid for income taxes	1,486	1,214	637
Non-cash investing and financing activities:
Reclassification from construction in progress upon project completion	45,518	26,948	4,478
Non-cash repayment of term loan facility	200,000	0	0
Non-cash borrowing under term loan facility	(202,028)	0	0
Non-cash debt issuance costs	2,028	0	0
Net settlement of proceeds on the sale of investments	(4,625)	(28,938)	(960)
Non-cash investments in real estate and loan receivable activity	0	22,679	1,227
Unrealized losses on cash flow hedges	(9,187)	(56,615)	(27,890)
Payable and accrued offering costs	24	30	0
Discounts and fees on capital raised through issuance of common stock	38	9,931	10,933
Discounts and fees on issuance of debt	0	2,477	3,400
Dividends declared and unpaid	$ 47,182	$ 39,398	$ 32,610

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Description of Business Essential Properties Realty Trust, Inc. (the “Company”) is an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to middle-market companies operating service-oriented or experience-based businesses. The Company generally invests in and leases freestanding, single-tenant commercial real estate facilities where a tenant services its customers and conducts activities that are essential to the generation of the tenant’s sales and profits. The Company was organized on January 12, 2018 as a Maryland corporation. It elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes beginning with the year ended December 31, 2018, and it believes that its current organizational and operational status and intended distributions will allow it to continue to so qualify. Substantially all of the Company’s business is conducted directly and indirectly through its operating partnership, Essential Properties, L.P. (the “Operating Partnership”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Accounting The accompanying consolidated financial statements of the Company are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and subsidiaries in which the Company has a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation. As of December 31, 2023 and 2022, the Company, directly and indirectly, held a 99.7% and 99.6% ownership interest in the Operating Partnership, respectively, and the consolidated financial statements include the financial statements of the Operating Partnership as of these dates. See Note 8—Non-controlling Interests for changes in the ownership interest in the Operating Partnership. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Reportable Segments ASC Topic 280, Segment Reporting, establishes standards for the manner in which enterprises report information about operating segments. Substantially all of the Company’s investments, at acquisition, are comprised of real estate owned that is leased to tenants on a long-term basis or real estate that secures the Company's investment in loans and direct financing lease receivables. Therefore, the Company aggregates these investments for reporting purposes and operates in one reportable segment. Real Estate Investments Investments in real estate are carried at cost less accumulated depreciation and impairment losses. The cost of investments in real estate reflects their purchase price or development cost. The Company evaluates each acquisition transaction to determine whether the acquired asset meets the definition of a business. Under Accounting Standards Update ("ASU") 2017-1, Business Combinations (Topic 805): Clarifying the Definition of a Business , an acquisition does not qualify as a business when there is no substantive process acquired or substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets or the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. Transaction costs related to acquisitions that are asset acquisitions are capitalized as part of the cost basis of the acquired assets, while transaction costs for acquisitions that are deemed to be acquisitions of a business are expensed as incurred. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred. The Company incurs various costs in the leasing and development of its properties. Amounts paid to tenants that incentivize them to extend or otherwise amend an existing lease or to sign a new lease agreement are capitalized to lease incentives on the Company's consolidated balance sheets. Tenant improvements are capitalized to building and improvements within the Company's consolidated balance sheets. Costs incurred which are directly related to properties under development, which include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs and real estate taxes and insurance, are capitalized during the period of development as construction in progress. After the determination is made to capitalize a cost, it is allocated to the specific component of a project that benefited. Determination of when a development project commences, and capitalization begins, and when a development project has reached substantial completion, and is available for occupancy and capitalization must cease, involves a degree of judgment. The Company does not engage in speculative real estate development. The Company does, however, opportunistically agree to reimburse certain of its tenants for development costs at its properties in exchange for contractually-specified rent that generally increases proportionally with its funding. The Company allocates the purchase price of acquired properties accounted for as asset acquisitions to tangible and identifiable intangible assets or liabilities based on their relative fair values. Tangible assets may include land, site improvements and buildings. Intangible assets may include the value of in-place leases and above- and below-market leases and other identifiable intangible assets or liabilities based on lease or property specific characteristics. The fair value of the tangible assets of an acquired property with an in-place operating lease is determined by valuing the property as if it were vacant, and the "as-if-vacant" value is then allocated to the tangible assets based on the fair value of the tangible assets. The fair value of in-place leases is determined by considering estimates of carrying costs during the expected lease-up periods, current market conditions, as well as costs to execute similar leases based on the specific characteristics of each tenant's lease. The Company estimates the cost to execute leases with terms similar to the remaining lease terms of the in-place leases, including leasing commissions, legal and other related expenses. Factors the Company considers in this analysis include an estimate of the carrying costs during the 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, which primarily range from six In making estimates of fair values for purposes of allocating purchase price, the Company uses a number of sources, including real estate valuations prepared by independent valuation firms. The Company also considers information and other factors including market conditions, the industry that the tenant operates in, characteristics of the real estate (e.g., location, size, demographics, value and comparative rental rates), tenant credit profile and the importance of the location of the real estate to the operations of the tenant's business. Additionally, the Company considers information obtained about each property as a result of its pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired. The Company uses the information obtained as a result of its pre-acquisition due diligence as part of its consideration of the accounting standard governing asset retirement obligations and, when necessary, will record an asset retirement obligation as part of the purchase price allocation. Real estate investments that are intended to be sold are designated as "held for sale" on the consolidated balance sheets at the lesser of carrying amount and fair value less estimated selling costs. Real estate investments are no longer depreciated when they are classified as held for sale. If the disposal, or intended disposal, of certain real estate investments represents a strategic shift that has had or will have a major effect on the Company's operations and financial results, the operations of such real estate investments would be presented as discontinued operations in the consolidated statements of operations for all applicable periods. Depreciation and Amortization Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings and 15 years for site improvements. The Company recorded the following amounts of depreciation expense on its real estate investments during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Depreciation on real estate investments $ 95,527 $ 80,647 $ 61,171 Lease incentives are amortized on a straight-line basis as a reduction of rental income over the remaining non-cancellable terms of the respective leases. If a tenant terminates its lease, the unamortized portion of the lease incentive is charged to rental revenue. Construction in progress is not depreciated until the development has reached substantial completion. Tenant improvements are depreciated over the non-cancellable term of the related lease or their estimated useful life, whichever is shorter. Capitalized above-market lease intangibles are amortized on a straight-line basis as a reduction of rental revenue over the remaining non-cancellable terms of the respective leases. Capitalized below-market lease intangibles are accreted on a straight-line basis as an increase to rental revenue over the remaining non-cancellable terms of the respective leases including any below-market fixed rate renewal option periods. Capitalized above-market ground lease values are accreted as a reduction of property expenses over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property expenses over the remaining terms of the respective leases and any expected below-market renewal option periods where renewal is considered probable. The value of in-place leases, exclusive of the value of above-market and below-market lease intangibles, is amortized to depreciation and amortization expense on a straight-line basis over the remaining periods of the respective leases. If a tenant terminates its lease, the unamortized portion of each intangible, including in-place lease values, is charged to depreciation and amortization expense, while above- and below-market lease adjustments are recorded within rental revenue in the consolidated statements of operations. Loans Receivable The Company holds its loans receivable for long-term investment. Loans receivable are carried at amortized cost, including related unamortized discounts or premiums, if any, less the Company's estimated allowance for credit losses. The Company recognizes interest income on loans receivable using the effective-interest method applied on a loan-by-loan basis. Direct costs associated with originating loans are offset against any related fees received and the balance, along with any premium or discount, is deferred and amortized as an adjustment to interest income over the term of the related loan receivable using the effective-interest method. Direct Financing Lease Receivables Certain of the Company’s real estate investment transactions are accounted for as direct financing leases. The Company records the direct financing lease receivables at their net investment, determined as the aggregate minimum lease payments and the estimated non-guaranteed residual value of the leased property less unearned income. The unearned income is recognized over the term of the related lease so as to produce a constant rate of return on the net investment in the asset. The Company’s investment in direct financing lease receivables is reduced over the applicable lease term to its non-guaranteed residual value by the portion of rent allocated to the direct financing lease receivables. Allowance for Credit Losses Under ASC Topic 326, Financial Instruments - Credit Losses, the Company uses a real estate loss estimate model (“RELEM”) which estimates losses on its loans and direct financing lease receivable portfolio, for purposes of calculating allowances for credit losses. The RELEM allows the Company to refine (on an ongoing basis) the expected loss estimate by incorporating asset-specific assumptions as necessary, such as anticipated funding, interest payments, estimated extensions and estimated loan repayment/refinancing at maturity to estimate cash flows over the life of the loan or direct financing lease receivable. The model also incorporates assumptions related to underlying collateral values, various loss scenarios, and predicted losses to estimate expected losses. The Company's specific asset-level inputs include loan-to-stabilized-value (“LTV”), principal balance, property type, location, coupon, origination year, term, subordination, expected repayment date and future funding. The Company categorizes the results by LTV range, which it considers the most significant indicator of credit quality for its loans and direct financing lease receivables. A lower LTV ratio typically indicates a lower credit loss risk. The Company also evaluates each loan and direct financing lease receivable measured at amortized cost for credit deterioration at least quarterly. Credit deterioration occurs when it is deemed probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan or direct financing lease receivable. The Company's allowance for credit losses is adjusted to reflect its estimation of the current and future economic conditions that impact the performance of the real estate assets securing its loans. These estimations include various macroeconomic factors impacting the likelihood and magnitude of potential credit losses for the Company's loans and direct financing lease receivables during their anticipated term. Changes in the Company's allowance for credit losses are presented within change in provision for credit losses in it's consolidated statements of operations. Impairment of Long-Lived Assets If circumstances indicate that the carrying value of a property may not be recoverable, the Company reviews the property for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. Impairment losses, if any, are recorded directly within the Company's consolidated statements of operations. The Company recorded the following provisions for impairment of long lived assets during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Provision for impairment of real estate $ 3,548 $ 20,164 $ 6,120 Cash and Cash Equivalents Cash and cash equivalents includes cash in the Company’s bank accounts. The Company considers all cash balances and highly liquid investments with original maturities of three months or less to be cash and cash equivalents. The Company deposits cash with high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to an insurance limit. As of December 31, 2023 and 2022, the Company had cash and cash equivalents of $39.8 million and $62.3 million, respectively, of which $39.6 million and $62.1 million, respectively, were not insured by the FDIC. Although the Company bears risk with respect to amounts not insured by the FDIC, it has not experienced and does not anticipate any losses as a result due to the high quality of the financial institutions where balances are held. Restricted Cash Restricted cash primarily consists of cash proceeds from the sale of assets held by a qualified intermediary to facilitate tax-deferred exchange transactions under Section 1031 of the Internal Revenue Code of 1986, as amended (the "Code"). Forward Equity Sales The Company has and may continue to enter into forward sale agreements relating to shares of its common stock, either through its 2022 ATM Program (as defined herein) or through underwritten public offerings. These agreements may be physically settled in stock, settled in cash or net share settled at the Company’s election. The Company evaluated its forward sale agreements and concluded they meet the conditions to be classified within stockholders’ equity. Prior to settlement, a forward sale agreement will be reflected in the diluted earnings per share calculations using the treasury stock method. Under this method, the number of shares of the Company’s common stock used in calculating diluted earnings per share is deemed to be increased by the excess, if any, of the number of shares of the Company’s common stock that would be issued upon full physical settlement of such forward sale agreement over the number of shares of the Company’s common stock that could be purchased by the Company in the market (based on the average market price during the reporting period) using the proceeds receivable upon full physical settlement (based on the adjusted forward sale price at the end of the reporting period). Consequently, prior to settlement of a forward sale agreement, there will be no dilutive effect on the Company’s earnings per share except during periods when the average market price of the Company’s common stock is above the adjusted forward sale price. However, upon settlement of a forward sales agreement, if the Company elects to physically settle or net share settle such forward sale agreement, delivery of the Company’s shares will result in dilution to the Company’s earnings per share. Deferred Financing Costs Financing costs related to establishing the Company’s Revolving Credit Facility (as defined below) were deferred and are being amortized as an increase to interest expense in the consolidated statements of operations over the term of the facility and are reported as a component of rent receivables, prepaid expenses and other assets, net on the consolidated balance sheets. Financing costs related to the incurrence of borrowings under the Company's unsecured term loans and the issuance of senior unsecured notes were deferred and are being amortized as an increase to interest expense in the consolidated statements of operations over the term of the related debt instrument and are reported as a reduction of the related debt balance on the consolidated balance sheets. Derivative Instruments In the normal course of business, the Company uses derivative financial instruments, which may include interest rate swaps, caps, options, floors and other interest rate derivative contracts, to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability in cash flows on a portion of the Company’s floating-rate debt. Instruments that meet these hedging criteria are formally designated as hedges at the inception of the derivative contract. The Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may also enter into derivative contracts that are intended to economically hedge certain risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designated and qualifies for hedge accounting treatment. If a derivative is designated and qualifies for cash flow hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income to the extent that it is effective. Any ineffective portion of a change in derivative fair value is immediately recorded in earnings. If the Company elects not to apply hedge accounting treatment (or for derivatives that do not qualify as hedges), any change in the fair value of such derivative instruments would be recognized immediately as a gain or loss on derivative instruments in the consolidated statements of operations. Fair Value Measurement The Company estimates the fair value of financial and non-financial assets and liabilities based on the framework established in fair value accounting guidance. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The hierarchy described below prioritizes inputs to the valuation techniques used in measuring the fair value of assets and liabilities. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs to be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows: Level 1—Quoted prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date. Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability. Level 3—Unobservable inputs that reflect the Company's own assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques. Revenue Recognition The Company’s rental revenue is primarily rent received from tenants. Rent from tenants is recorded in accordance with the terms of each lease on a straight-line basis over the non-cancellable initial term of the lease from the later of the date of the commencement of the lease and the date of acquisition of the property subject to the lease. Rental revenue Generally, the Company’s leases provide the tenant with one or more multi-year renewal options, subject to generally the same terms and conditions provided under the initial lease term, including rent increases. If economic incentives make it reasonably certain that an option period to extend the lease will be exercised, the Company will include these options in determining the non-cancelable term of the lease. The Company defers rental revenue related to lease payments received from tenants in advance of their due dates. These amounts are presented within accrued liabilities and other payables on the Company’s consolidated balance sheets. Certain properties in the Company’s investment portfolio are subject to leases that provide for contingent rent based on a percentage of the tenant’s gross sales. For these leases, the Company recognizes contingent rental revenue when the threshold upon which the contingent lease payment is based is actually reached. The Company recorded the following amounts as contingent rent, which are included as a component of rental revenue in the Company's consolidated statements of operations, during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Contingent rent $ 743 $ 682 $ 721 Adjustment to Rental Revenue for Tenant Credit The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. If the assessment of the collectability of substantially all payments due under a lease changes from probable to not probable, any difference between the rental revenue recognized to date and the lease payments that have been collected is recognized as a current period reduction of rental revenue in the consolidated statements of operations. The Company recorded the following adjustments as increases or decreases to rental revenue for tenant credit during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Adjustment to (decrease) increase rental revenue for tenant credit $ (640) $ (371) $ 2,900 Offering Costs In connection with the completion of equity offerings, the Company incurs legal, accounting and other offering-related costs. Such costs are deducted from the gross proceeds of each equity offering when the offering is completed. As of December 31, 2023 and 2022, the Company capitalized a total of $91.3 million and $90.3 million, respectively, of such costs, which are presented as a reduction of additional paid-in capital in the Company's consolidated balance sheets. Income Taxes The Company elected and qualified to be taxed as a REIT under sections 856 through 860 of the Code commencing with its taxable year ended December 31, 2018. REITs are subject to a number of organizational and operational requirements, including a requirement that 90% of ordinary “REIT taxable income” (as determined without regard to the dividends paid deduction or net capital gains) be distributed. As a REIT, the Company will generally not be subject to U.S. federal income tax to the extent that it meets the organizational and operational requirements and its distributions equal or exceed REIT taxable income. For the period subsequent to the effective date of its REIT election, the Company continues to meet the organizational and operational requirements and expects distributions to exceed REIT taxable income. Accordingly, no provision has been made for U.S. federal income taxes. Even though the Company has elected and qualifies for taxation as a REIT, it may be subject to state and local income and franchise taxes, and to federal income and excise tax on its undistributed income. Franchise taxes and federal excise taxes on the Company’s undistributed income, if any, are included in general and administrative expenses on the accompanying consolidated statements of operations. Additionally, taxable income from non-REIT activities managed through the Company's taxable REIT subsidiary is subject to federal, state, and local taxes. The Company analyzes its tax filing positions in all of the U.S. federal, state and local tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in such jurisdictions. The Company follows a two-step process to evaluate uncertain tax positions. Step one, recognition, occurs when an entity concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustained upon examination. Step two, measurement, determines the amount of benefit that is more-likely-than-not to be realized upon settlement. Derecognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. The use of a valuation allowance as a substitute for derecognition of tax positions is prohibited. As of December 31, 2023 and 2022, the Company had no accruals recorded for uncertain tax positions. The Company’s policy is to classify interest expense and penalties relating to taxes in general and administrative expense in the consolidated statements of operations. During the years ended December 31, 2023, 2022 and 2021, the Company recorded de minimis interest or penalties relating to taxes, and there were no interest or penalties with respect to taxes accrued as of December 31, 2023 or 2022. The 2022, 2021, and 2020 taxable years remain open to examination by federal and/or state taxing jurisdictions to which the Company is subject. Equity-Based Compensation The Company grants shares of restricted common stock ("RSAs") and restricted stock units (“RSUs”) to its directors, executive officers and other employees that vest over specified time periods, subject to the recipient’s continued service. The Company also grants performance-based RSUs to executive officers, the final number of which is determined based on objective and subjective performance conditions and which vest over a multi-year period, subject to the recipient’s continued service. The Company accounts for RSAs and RSUs in accordance with ASC 718, Compensation – Stock Compensation, which requires that such compensation be recognized in the financial statements based on its estimated grant-date fair value. The value of such awards is recognized as compensation expense in general and administrative expenses in the accompanying consolidated statements of operations over the applicable service periods. The Company recognizes compensation expense for equity-based compensation using the straight-line method based on the fair value of the award on the grant date. Forfeitures of equity-based compensation awards, if any, are recognized when they occur. Variable Interest Entities The Financial Accounting Standards Board (“FASB”) provides guidance for determining whether an entity is a VIE. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. A VIE is required to be consolidated by its primary beneficiary, which is the party that (i) has the power to control the activities that most significantly impact the VIE’s economic performance and (ii) has the obligation to absorb losses, or the right to receive benefits, of the VIE that could potentially be significant to the VIE. The Company has concluded that the Operating Partnership is a VIE of which the Company is the primary beneficiary, as the Company has the power to direct the activities that most significantly impact the economic performance of the Operating Partnership. Substantially all of the Company’s assets and liabilities are held by the Operating Partnership. The assets and liabilities of the Operating Partnership are consolidated and reported as assets and liabilities on the Company’s consolidated balance sheets as of December 31, 2023 and 2022. Additionally, the Company has concluded that certain entities to which it has provided mortgage loans are VIEs because the entities' equity was not sufficient to finance their activities without additional subordinated financial support. The following table presents information about the Company’s mortgage loan-related VIEs as of the dates presented: December 31, (Dollars in thousands) 2023 2022 Number of VIEs 21 21 Aggregate carrying value $ 219,449 $ 233,351 The Company was not the primary beneficiary of any of these entities, because the Company did not have the power to direct the activities that most significantly impact the entities’ economic performance as of December 31, 2023 and 2022. The Company’s maximum exposure to loss in these entities is limited to the carrying amount of its investment. The Company had no liabilities associated with these VIEs as of December 31, 2023 and 2022. Recent Accounting Developments In July 2021, the FASB issued ASU 2021-05, Lease (Topic 842): Lessors - Certain Leases with Variable Lease Payments ("ASU 2021-05"). The guidance in ASU 2021-05 amends the lease classification requirements for the lessors under certain leases containing variable payments to align with practice under ASC 840. The lessor should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: 1) the lea

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Investments	70% 13,091 71,611 29,953 8,466 20,679 143,800 $ 13,091 $ 94,611 $ 58,687 $ 8,466 $ 49,665 $ 224,520 Real Estate Investments Held for Sale The Company continually evaluates its portfolio of real estate investments and may elect to dispose of investments considering criteria including , but not limited to, tenant concentration, tenant credit quality, tenant operation type (e.g., industry, sector or concept), unit-level financial performance, local market conditions and lease rates, associated indebtedness and asset location. Real estate investments held for sale are expected to be sold within twelve months. The following table shows the activity in real estate investments held for sale and intangible lease liabilities held for sale during the years ended December 31, 2023 and 2022: (Dollar amounts in thousands) Number of Real Estate Intangible Lease Net Carrying Held for sale balance, December 31, 2021 9 $ 15,434 $ — $ 15,434 Transfers to held for sale classification 11 28,393 — 28,393 Sales (16) (39,047) — (39,047) Transfers to held and used classification — — — — Held for sale balance, December 31, 2022 4 4,780 — 4,780 Transfers to held for sale classification 10 19,311 — 19,311 Sales (9) (16,067) — (16,067) Transfers to held and used classification (1) (569) — (569) Held for sale balance, December 31, 2023 4 $ 7,455 $ — $ 7,455 Significant Concentrations The Company did not have any tenants (including for this purpose, all affiliates of such tenants) whose rental revenue for the years ended December 31, 2023, 2022 or 2021 represented 10% or more of total rental revenue in the Company's consolidated statements of operations. The following table lists the state where the rental revenue from the properties in that state during the periods presented represented 10% or more of total rental revenue in the Company's consolidated statements of operations: Year ended December 31, State 2023 2022 2021 Texas 13.3% 13.5% 13.1% Intangible Assets and Liabilities Intangible assets and liabilities consisted of the following as of the dates presented: December 31, 2023 December 31, 2022 (in thousands) Gross Accumulated Net Gross Accumulated Net Intangible assets: In-place leases $ 78,080 $ 35,896 $ 42,184 $ 77,096 $ 30,217 $ 46,879 Intangible market lease assets 11,129 5,456 5,673 11,268 4,917 6,351 Total intangible assets $ 89,209 $ 41,352 $ 47,857 $ 88,364 $ 35,134 $ 53,230 Intangible market lease liabilities $ 15,505 $ 4,299 $ 11,206 $ 15,325 $ 3,774 $ 11,551 The remaining weighted average amortization period for the Company's intangible assets and liabilities as of December 31, 2023, by category and in total, were as follows: Years Remaining In-place leases 8.5 Intangible market lease assets 10.4 Total intangible assets 8.7 Intangible market lease liabilities 8.7 The following table discloses amounts recognized within the consolidated statements of operations related to amortization of in-place leases, amortization and accretion of above- and below-market lease assets and liabilities, net and the amortization and accretion of above- and below-market ground leases for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Amortization of in-place leases (1) $ 6,408 $ 7,575 $ 7,544 Amortization (accretion) of market lease intangibles, net (2) 11 (217) (47) Amortization (accretion) of above- and below-market ground lease intangibles, net (3) (286) (350) (353) ______________________________________________________ (1) Reflected within depreciation and amortization expense. (2) Reflected within rental revenue. (3) Reflected within property expenses. The following table provides the estimated amortization of in-place lease assets to be recognized as a component of depreciation and amortization expense for the next five years and thereafter: (in thousands) In-Place Lease Assets 2024 $ 5,854 2025 4,564 2026 4,260 2027 3,731 2028 3,192 Thereafter 20,583 Total $ 42,184 The following table provides the estimated net amortization of above- and below-market lease intangibles to be recognized as a component of rental revenue for the next five years and thereafter: (in thousands) Above Market Lease Asset Below Market Lease Liabilities Net Adjustment to Rental Revenue 2024 $ (667) $ 699 $ 32 2025 (659) 701 42 2026 (649) 705 56 2027 (627) 729 102 2028 (385) 684 299 Thereafter (2,686) 7,688 5,002 Total $ (5,673) $ 11,206 $ 5,533 " id="sjs-B4" xml:space="preserve">Investments The following table presents information about the number of investments in the Company's real estate investment portfolio as of each date presented: December 31, 2023 2022 Owned properties (1) 1,726 1,489 Properties securing investments in mortgage loans (2) 136 153 Ground lease interests 11 11 Total number of investments 1,873 1,653 _____________________________________ (1) Includes six and eight properties which are subject to leases accounted for as direct financing leases or loans as of December 31, 2023 and 2022, respectively. (2) Properties secure 20 mortgage loans receivable as of December 31, 2023 and 2022. The following table presents information about the gross investment value of the Company's real estate investment portfolio as of each date presented: December 31, (in thousands) 2023 2022 Real estate investments, at cost $ 4,683,937 $ 3,810,570 Loans and direct financing lease receivables, net 223,854 240,035 Real estate investments held for sale, net 7,455 4,780 Total gross investments $ 4,915,246 $ 4,055,385 Investments in 2023 and 2022 The following table presents information about the Company’s investment activity during the years ended December 31, 2023 and 2022: Year ended December 31, (Dollars in thousands) 2023 2022 Ownership type (1) (2) Number of properties 291 224 Purchase price allocation: Land and improvements $ 354,331 $ 270,049 Building and improvements 539,062 481,560 Construction in progress (3) 105,075 51,870 Intangible lease assets 2,553 3,366 Total purchase price 1,001,021 806,845 Intangible lease liabilities (181) — Purchase price (including acquisition costs) $ 1,000,840 $ 806,845 _____________________________________ (1) During the year ended December 31, 2023, the Company acquired fee interests in 289 properties and acquired two properties subject to ground leases. (2) During the year ended December 31, 2022, the Company acquired fee interests in 223 properties and acquired one property subject to a ground lease. (3) Represents amounts incurred at and subsequent to initial investment and includes $2.4 million and $0.8 million, respectively, of capitalized interest expense during the years ended December 31, 2023 and 2022. During the years ended December 31, 2023 and 2022, the Company did not make any new investments that individually represented more than 5% of the Company’s total real estate investment portfolio. Gross Investment Activity During the years ended December 31, 2023, 2022 and 2021, the Company had the following gross investment activity: (Dollar amounts in thousands) Number of Dollar Gross investments, December 31, 2020 1,181 $ 2,528,673 Acquisitions of and additions to real estate investments 297 853,798 Sales of investments in real estate (38) (57,154) Provisions for impairment of real estate (1) — (6,120) Investments in loans receivable 49 137,351 Principal collections on and settlements of loans and direct financing lease receivables (38) (100,488) Other — (499) Gross investments, December 31, 2021 1,451 3,355,561 Acquisitions of and additions to real estate investments 224 810,661 Sales of investments in real estate (54) (138,515) Provisions for impairment of real estate (2) — (20,164) Investments in loans receivable 75 143,954 Principal collections on and settlements of loans and direct financing lease receivables (43) (93,118) Other — (2,994) Gross investments, December 31, 2022 1,653 4,055,385 Acquisitions of and additions to real estate investments 291 1,004,075 Sales of investments in real estate (51) (120,809) Relinquishment of properties at end of ground lease term (2) (1,543) Provisions for impairment of real estate (3) — (3,548) Investments in loans receivable 2 13,091 Principal collections on and settlements of loans and direct financing lease receivables (20) (27,908) Other — (3,497) Gross investments, December 31, 2023 1,873 4,915,246 Less: Accumulated depreciation and amortization (4) — (367,133) Net investments, December 31, 2023 1,873 $ 4,548,113 _____________________________________________ (1) During the year ended December 31, 2021, the Company identified and recorded provisions for impairment at two vacant and 16 tenanted properties. (2) During the year ended December 31, 2022, the Company identified and recorded provisions for impairment at four vacant and nine tenanted properties. (3) During the year ended December 31, 2023, the Company identified and recorded provisions for impairment at two vacant and six tenanted properties. (4) Includes $321.9 million of accumulated depreciation as of December 31, 2023. Real Estate Investments The Company's investment properties are leased to tenants under long-term operating leases that typically include one or more renewal options. See Note 4—Leases for more information about the Company's leases. Loans and Direct Financing Lease Receivables As of December 31, 2023 and 2022, the Company had 20 and 23 mortgage loans receivable outstanding, respectively. As of December 31, 2023 and 2022, the Company had two and three leases accounted for as loans, respectively, with an aggregate carrying amount of $223.1 million and $238.7 million, respectively. The maximum amount of loss due to credit risk is the Company's current principal balance of $223.1 million as of December 31, 2023. The Company's loans receivable portfolio as of December 31, 2023 and 2022 is summarized below (dollars in thousands): Loan Type Monthly Payment (1) Number of Secured Properties Effective Interest Rate Stated Interest Rate Maturity Date Principal Balance Outstanding December 31, 2023 December 31, 2022 Mortgage (2)(3) I/O 2 8.80% 8.00% 2039 $ 12,000 $ 12,000 Mortgage (2) I/O 2 8.53% 7.75% 2039 7,300 7,300 Mortgage (2) I/O 69 7.79% 7.33% 2034 51,000 51,000 Mortgage (2) I/O 1 8.42% 7.65% 2040 5,300 5,300 Mortgage (2) I/O 2 8.54% 8.50% 2024 1,785 2,324 Mortgage (2) I/O 1 7.00% 7.00% 2024 500 600 Mortgage (2) I/O 2 8.30% 8.25% 2024 994 3,146 Mortgage (2) I/O 2 6.87% 6.40% 2036 2,520 2,520 Mortgage (2) I/O — 7.51% 7.00% 2036 — 2,673 Mortgage (2) I/O 2 8.29% 8.25% 2024 2,389 2,389 Mortgage (2) I/O 1 8.96% 8.06% 2051 24,100 24,100 Mortgage (2) I/O — 7.44% 7.10% 2036 — 9,808 Mortgage (2) I/O 7 7.30% 6.80% 2036 35,474 35,474 Mortgage (2) I/O 1 7.73% 7.20% 2036 2,470 2,470 Mortgage (2) I/O 1 8.00% 8.00% 2024 1,754 1,754 Mortgage (2) I/O 26 7.00% 7.00% 2027 17,494 26,307 Mortgage (2) I/O 1 7.73% 7.20% 2037 3,600 3,600 Mortgage (2) I/O 1 8.30% 8.25% 2024 760 760 Mortgage (2) I/O 4 8.64% 8.05% 2037 12,250 12,250 Mortgage (2) I/O 9 8.85% 8.25% 2037 25,993 28,938 Mortgage (2) I/O 1 8.83% 8.25% 2038 10,200 — Mortgage (2) I/O 1 8.10% 8.10% 2025 2,891 — Leasehold interest P+I 1 2.25% (4) 2034 929 992 Leasehold interest P+I 1 2.41% (4) 2034 1,382 1,473 Leasehold interest P+I — 4.97% (4) 2038 — 1,517 Net investment $ 223,085 $ 238,695 ________________________________________________ (1) I/O: Interest Only; P+I: Principal and Interest (2) Loan requires monthly payments of interest only with a balloon payment due at maturity. (3) Loan allows for prepayments in whole or in part without penalty. (4) These leasehold interests are accounted for as loans receivable, as the lease for each property contains an option for the lessee to repurchase the leased property in the future. Scheduled principal payments due to be received under the Company's loans receivable as of December 31, 2023 were as follows: (in thousands) Loans Receivable 2024 $ 8,346 2025 3,063 2026 181 2027 17,684 2028 199 Thereafter 193,612 Total $ 223,085 As of December 31, 2023 and 2022, the Company had $1.4 million and $2.1 million, respectively, of net investments accounted for as direct financing lease receivables. The components of the investments accounted for as direct financing lease receivables were as follows: December 31, (in thousands) 2023 2022 Minimum lease payments receivable $ 1,709 $ 2,812 Estimated unguaranteed residual value of leased assets 251 251 Unearned income from leased assets (525) (957) Net investment $ 1,435 $ 2,106 Scheduled future minimum non-cancelable base rental payments due to be received under the direct financing lease receivables as of December 31, 2023 were as follows: (in thousands) Future Minimum Base Rental Payments 2024 $ 210 2025 178 2026 167 2027 143 2028 145 Thereafter 866 Total $ 1,709 Allowance for Credit Losses The Company utilizes a real estate loss estimate model (i.e. a RELEM) which estimates losses on loans and direct financing lease receivables for purposes of calculating an allowance for credit losses. As of December 31, 2023 and 2022, the Company recorded an allowance for credit losses of $0.7 million and $0.8 million, respectively, which is recorded within loans and direct financing receivables on the Company's consolidated balance sheets. Changes in the Company’s allowance for credit losses are presented within change in provision for credit losses in the Company’s consolidated statements of operations. For the years ended December 31, 2023, 2022 and 2021, the changes to the Company's allowance for credit losses were as follows: (in thousands) Loans and Direct Financing Lease Receivables Balance at December 31, 2020 $ 1,018 Current period provision for expected credit losses (1) (204) Write-offs charged — Recoveries — Balance at December 31, 2021 814 Current period provision for expected credit losses (2) 88 Write-offs charged (137) Recoveries — Balance at December 31, 2022 765 Current period provision for expected credit losses (2) (99) Write-offs charged — Recoveries — Balance at December 31, 2023 $ 666 _____________________________________ (1) The decrease in expected credit losses was due to assumptions regarding current macroeconomic factors returning to pre-pandemic values due to the reduction of the adverse impact of the COVID-19 pandemic. (2) The change in expected credit loss was primarily due to an overall increase or decrease in the size of our loans and direct financing lease receivables portfolio. The Company considers the ratio of loan to value ("LTV") to be a significant credit quality indicator for its loans and direct financing lease portfolio. The following table presents information about the LTV of the Company's loans and direct financing lease receivables measured at amortized cost as of as of December 31, 2023: Amortized Cost Basis by Origination Year Total Amortized Cost Basis (in thousands) 2023 2022 2021 2020 Prior to 2020 LTV <60% $ — $ 23,000 $ — $ — $ 28,986 $ 51,986 LTV 60%-70% — — 28,734 — — 28,734 LTV >70% 13,091 71,611 29,953 8,466 20,679 143,800 $ 13,091 $ 94,611 $ 58,687 $ 8,466 $ 49,665 $ 224,520 Real Estate Investments Held for Sale The Company continually evaluates its portfolio of real estate investments and may elect to dispose of investments considering criteria including , but not limited to, tenant concentration, tenant credit quality, tenant operation type (e.g., industry, sector or concept), unit-level financial performance, local market conditions and lease rates, associated indebtedness and asset location. Real estate investments held for sale are expected to be sold within twelve months. The following table shows the activity in real estate investments held for sale and intangible lease liabilities held for sale during the years ended December 31, 2023 and 2022: (Dollar amounts in thousands) Number of Real Estate Intangible Lease Net Carrying Held for sale balance, December 31, 2021 9 $ 15,434 $ — $ 15,434 Transfers to held for sale classification 11 28,393 — 28,393 Sales (16) (39,047) — (39,047) Transfers to held and used classification — — — — Held for sale balance, December 31, 2022 4 4,780 — 4,780 Transfers to held for sale classification 10 19,311 — 19,311 Sales (9) (16,067) — (16,067) Transfers to held and used classification (1) (569) — (569) Held for sale balance, December 31, 2023 4 $ 7,455 $ — $ 7,455 Significant Concentrations The Company did not have any tenants (including for this purpose, all affiliates of such tenants) whose rental revenue for the years ended December 31, 2023, 2022 or 2021 represented 10% or more of total rental revenue in the Company's consolidated statements of operations. The following table lists the state where the rental revenue from the properties in that state during the periods presented represented 10% or more of total rental revenue in the Company's consolidated statements of operations: Year ended December 31, State 2023 2022 2021 Texas 13.3% 13.5% 13.1% Intangible Assets and Liabilities Intangible assets and liabilities consisted of the following as of the dates presented: December 31, 2023 December 31, 2022 (in thousands) Gross Accumulated Net Gross Accumulated Net Intangible assets: In-place leases $ 78,080 $ 35,896 $ 42,184 $ 77,096 $ 30,217 $ 46,879 Intangible market lease assets 11,129 5,456 5,673 11,268 4,917 6,351 Total intangible assets $ 89,209 $ 41,352 $ 47,857 $ 88,364 $ 35,134 $ 53,230 Intangible market lease liabilities $ 15,505 $ 4,299 $ 11,206 $ 15,325 $ 3,774 $ 11,551 The remaining weighted average amortization period for the Company's intangible assets and liabilities as of December 31, 2023, by category and in total, were as follows: Years Remaining In-place leases 8.5 Intangible market lease assets 10.4 Total intangible assets 8.7 Intangible market lease liabilities 8.7 The following table discloses amounts recognized within the consolidated statements of operations related to amortization of in-place leases, amortization and accretion of above- and below-market lease assets and liabilities, net and the amortization and accretion of above- and below-market ground leases for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Amortization of in-place leases (1) $ 6,408 $ 7,575 $ 7,544 Amortization (accretion) of market lease intangibles, net (2) 11 (217) (47) Amortization (accretion) of above- and below-market ground lease intangibles, net (3) (286) (350) (353) ______________________________________________________ (1) Reflected within depreciation and amortization expense. (2) Reflected within rental revenue. (3) Reflected within property expenses. The following table provides the estimated amortization of in-place lease assets to be recognized as a component of depreciation and amortization expense for the next five years and thereafter: (in thousands) In-Place Lease Assets 2024 $ 5,854 2025 4,564 2026 4,260 2027 3,731 2028 3,192 Thereafter 20,583 Total $ 42,184 The following table provides the estimated net amortization of above- and below-market lease intangibles to be recognized as a component of rental revenue for the next five years and thereafter: (in thousands) Above Market Lease Asset Below Market Lease Liabilities Net Adjustment to Rental Revenue 2024 $ (667) $ 699 $ 32 2025 (659) 701 42 2026 (649) 705 56 2027 (627) 729 102 2028 (385) 684 299 Thereafter (2,686) 7,688 5,002 Total $ (5,673) $ 11,206 $ 5,533

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases As Lessor The Company’s investment properties are leased to tenants under long-term operating leases that typically include one or more tenant renewal options. The Company’s leases provide for annual base rental payments (generally payable in monthly installments), and generally provide for increases in rent based on fixed contractual terms or as a result of increases in the Consumer Price Index. Substantially all of the leases are triple-net, which means that the lessees are responsible for paying all property operating expenses, including maintenance, insurance, utilities, property taxes and, if applicable, ground rent expense; therefore, the Company is generally not responsible for repairs or other capital expenditures related to the properties while the triple-net leases are in effect and, at the end of the lease term, the lessees are responsible for returning the property to the Company in a substantially similar condition as when they took possession. Some of the Company’s leases provide that in the event the Company wishes to sell the property subject to that lease, it first must offer the lessee the right to purchase the property on the same terms and conditions as any offer which it intends to accept for the sale of the property. Scheduled future minimum base rental payments due to be received under the remaining non-cancelable term of the operating leases in place as of December 31, 2023 were as follows: (in thousands) Future Minimum Base 2024 $ 367,658 2025 372,511 2026 375,862 2027 377,320 2028 378,407 Thereafter 4,031,616 Total $ 5,903,374 Since lease renewal periods are exercisable at the option of the lessee, the preceding table presents future minimum base rental payments to be received during the initial non-cancelable lease term only. In addition, the future minimum lease payments exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to performance thresholds and exclude increases in annual rent based on future changes in the Consumer Price Index, among other items. The fixed and variable components of lease revenues for the years ended December 31, 2023, 2022, and 2021 were as follows: Year ended December 31, (in thousands) 2023 2022 2021 Fixed lease revenues $ 338,720 $ 270,694 $ 210,441 Variable lease revenues (1) 3,610 1,632 1,708 Total lease revenues (2) $ 342,330 $ 272,326 $ 212,149 _____________________________________ (1) Includes contingent rent based on a percentage of the tenant’s gross sales and costs paid by the Company for which it is reimbursed by its tenants. (2) Excludes the amortization and accretion of above- and below-market lease intangible assets and liabilities and lease incentives and the adjustment to rental revenue for tenant credit. As Lessee The Company has a number of ground leases, office leases and other equipment leases which are classified as operating leases. As of December 31, 2023, the Company's ROU assets and lease liabilities were $8.9 million and $9.8 million, respectively. As of December 31, 2022, the Company's ROU assets and lease liabilities were $7.3 million and $9.0 million, respectively. These amounts are included in rent receivables, prepaid expenses and other assets, net accrued liabilities and other payables The discount rate applied to measure each ROU asset and lease liability is based on the Company's incremental borrowing rate ("IBR"). The Company considers the general economic environment and its historical borrowing activity and factors in various financing and asset specific adjustments to ensure the IBR is appropriate to the intended use of the underlying lease. As the Company did not elect to apply hindsight, lease term assumptions determined under ASC 840 were carried forward and applied in calculating the lease liabilities recorded under ASC 842. Certain of the Company's ground leases offer renewal options which it assesses against relevant economic factors to determine whether it is reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods that the Company is reasonably certain will be exercised, if any, are included in the measurement of the corresponding lease liability and ROU asset. The following table sets forth information related to the measurement of the Company's lease liabilities as of the dates presented: December 31, 2023 December 31, 2022 Weighted average remaining lease term (in years) 22.8 22.9 Weighted average discount rate 6.75% 6.09% The following table sets forth the details of rent expense for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, (in thousands) 2023 2022 2021 Fixed rent expense - Ground Rent $ 970 $ 981 $ 957 Fixed rent expense - Office Rent 606 511 510 Variable rent expense — — — Total rent expense $ 1,576 $ 1,492 $ 1,467 As of December 31, 2023, future lease payments due from the Company under the ground, office and equipment operating leases where the Company is directly responsible for payment and the future lease payments due under the ground operating leases where the Company's tenants are directly responsible for payment over the next five years and thereafter were as follows: (in thousands) Office and Equipment Leases Ground Leases Ground Leases Total Future 2024 $ 704 $ 28 $ 909 $ 1,641 2025 733 — 834 1,567 2026 217 — 840 1,057 2027 219 — 854 1,073 2028 224 — 738 962 Thereafter 57 — 18,002 18,059 Total $ 2,154 $ 28 $ 22,177 24,359 Present value discount (14,582) Lease liabilities $ 9,777 The Company has adopted the short-term lease policy election and accordingly, the table above excludes future minimum base cash rental payments by the Company or its tenants on leases that have a term of less than 12 months at lease inception. The total of such future obligations is not material.
Leases	Leases As Lessor The Company’s investment properties are leased to tenants under long-term operating leases that typically include one or more tenant renewal options. The Company’s leases provide for annual base rental payments (generally payable in monthly installments), and generally provide for increases in rent based on fixed contractual terms or as a result of increases in the Consumer Price Index. Substantially all of the leases are triple-net, which means that the lessees are responsible for paying all property operating expenses, including maintenance, insurance, utilities, property taxes and, if applicable, ground rent expense; therefore, the Company is generally not responsible for repairs or other capital expenditures related to the properties while the triple-net leases are in effect and, at the end of the lease term, the lessees are responsible for returning the property to the Company in a substantially similar condition as when they took possession. Some of the Company’s leases provide that in the event the Company wishes to sell the property subject to that lease, it first must offer the lessee the right to purchase the property on the same terms and conditions as any offer which it intends to accept for the sale of the property. Scheduled future minimum base rental payments due to be received under the remaining non-cancelable term of the operating leases in place as of December 31, 2023 were as follows: (in thousands) Future Minimum Base 2024 $ 367,658 2025 372,511 2026 375,862 2027 377,320 2028 378,407 Thereafter 4,031,616 Total $ 5,903,374 Since lease renewal periods are exercisable at the option of the lessee, the preceding table presents future minimum base rental payments to be received during the initial non-cancelable lease term only. In addition, the future minimum lease payments exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to performance thresholds and exclude increases in annual rent based on future changes in the Consumer Price Index, among other items. The fixed and variable components of lease revenues for the years ended December 31, 2023, 2022, and 2021 were as follows: Year ended December 31, (in thousands) 2023 2022 2021 Fixed lease revenues $ 338,720 $ 270,694 $ 210,441 Variable lease revenues (1) 3,610 1,632 1,708 Total lease revenues (2) $ 342,330 $ 272,326 $ 212,149 _____________________________________ (1) Includes contingent rent based on a percentage of the tenant’s gross sales and costs paid by the Company for which it is reimbursed by its tenants. (2) Excludes the amortization and accretion of above- and below-market lease intangible assets and liabilities and lease incentives and the adjustment to rental revenue for tenant credit. As Lessee The Company has a number of ground leases, office leases and other equipment leases which are classified as operating leases. As of December 31, 2023, the Company's ROU assets and lease liabilities were $8.9 million and $9.8 million, respectively. As of December 31, 2022, the Company's ROU assets and lease liabilities were $7.3 million and $9.0 million, respectively. These amounts are included in rent receivables, prepaid expenses and other assets, net accrued liabilities and other payables The discount rate applied to measure each ROU asset and lease liability is based on the Company's incremental borrowing rate ("IBR"). The Company considers the general economic environment and its historical borrowing activity and factors in various financing and asset specific adjustments to ensure the IBR is appropriate to the intended use of the underlying lease. As the Company did not elect to apply hindsight, lease term assumptions determined under ASC 840 were carried forward and applied in calculating the lease liabilities recorded under ASC 842. Certain of the Company's ground leases offer renewal options which it assesses against relevant economic factors to determine whether it is reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods that the Company is reasonably certain will be exercised, if any, are included in the measurement of the corresponding lease liability and ROU asset. The following table sets forth information related to the measurement of the Company's lease liabilities as of the dates presented: December 31, 2023 December 31, 2022 Weighted average remaining lease term (in years) 22.8 22.9 Weighted average discount rate 6.75% 6.09% The following table sets forth the details of rent expense for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, (in thousands) 2023 2022 2021 Fixed rent expense - Ground Rent $ 970 $ 981 $ 957 Fixed rent expense - Office Rent 606 511 510 Variable rent expense — — — Total rent expense $ 1,576 $ 1,492 $ 1,467 As of December 31, 2023, future lease payments due from the Company under the ground, office and equipment operating leases where the Company is directly responsible for payment and the future lease payments due under the ground operating leases where the Company's tenants are directly responsible for payment over the next five years and thereafter were as follows: (in thousands) Office and Equipment Leases Ground Leases Ground Leases Total Future 2024 $ 704 $ 28 $ 909 $ 1,641 2025 733 — 834 1,567 2026 217 — 840 1,057 2027 219 — 854 1,073 2028 224 — 738 962 Thereafter 57 — 18,002 18,059 Total $ 2,154 $ 28 $ 22,177 24,359 Present value discount (14,582) Lease liabilities $ 9,777 The Company has adopted the short-term lease policy election and accordingly, the table above excludes future minimum base cash rental payments by the Company or its tenants on leases that have a term of less than 12 months at lease inception. The total of such future obligations is not material.

Long Term Debt

Long Term Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Long Term Debt	Long Term Debt The following table summarizes the Company's outstanding indebtedness as of December 31, 2023 and 2022: Principal Outstanding Weighted Average Interest Rate (1) (in thousands) Maturity Date December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Unsecured term loans: 2024 Term Loan April 2024 $ — $ 200,000 —% 5.3% 2027 Term Loan February 2027 430,000 430,000 6.3% 5.3% 2028 Term Loan January 2028 400,000 400,000 6.3% 5.3% 2029 Term Loan February 2029 (2) 450,000 — 6.4% —% Senior unsecured notes July 2031 400,000 400,000 3.0% 3.0% Revolving Credit Facility February 2026 — — —% —% Total principal outstanding $ 1,680,000 $ 1,430,000 5.5% 4.6% ______________________________________________________ (1) Interest rates are presented as stated in debt agreements and do not reflect the impact of the Company's interest rate swap and lock agreements, where applicable (see Note 6—Derivative and Hedging Activities). (2) After giving effect to extension options exercisable at the Operating Partnership's election. The following table summarizes the scheduled principal payments on the Company’s outstanding indebtedness as of December 31, 2023: (in thousands) 2027 Term Loan 2028 Term Loan 2029 Term Loan (1) Senior Unsecured Notes Revolving Credit Facility (2) Total 2024 $ — $ — $ — $ — $ — $ — 2025 — — — — — — 2026 — — — — — — 2027 430,000 — — — — 430,000 2028 — 400,000 — — — 400,000 Thereafter — — 450,000 400,000 — 850,000 Total $ 430,000 $ 400,000 $ 450,000 $ 400,000 $ — $ 1,680,000 ______________________ (1) After giving effect to extension options exercisable at the Operating Partnership's election. (2) Any amounts drawn will be due in February 2026. The Company was not in default of any provisions under any of its outstanding indebtedness as of December 31, 2023 or 2022. Revolving Credit Facility, 2024 Term Loan, 2028 Term Loan and 2029 Term Loan In April 2019, the Company, through the Operating Partnership, entered into an amended and restated credit agreement (the “Amended Credit Agreement”) with a group of lenders, amending and restating the terms of the Company’s previous $300.0 million revolving credit facility to increase the maximum aggregate initial original principal amount of the revolving loans available thereunder up to $400.0 million (the “Revolving Credit Facility”) and to permit the incurrence of an additional $200.0 million in term loans thereunder (the “2024 Term Loan”). The full amount available under the 2024 Term Loan was borrowed in May 2019. In February 2022, the Company entered into an amendment to the Amended Credit Agreement (as so amended, the "Credit Agreement") and, pursuant to such amendment, among other things, the availability of extensions of credit under the Revolving Credit Facility was increased to $600.0 million, the accordion feature was increased to $600.0 million, the borrowing base limitation on borrowings thereunder was removed, the leverage-based margin applicable to borrowings under the Revolving Credit Facility was reduced, the LIBOR reference rate was replaced with reference to the Adjusted Term SOFR rate, consistent with market practice, and the composition and extent of lender participation under the Revolving Credit Facility was changed. During the year ended December 31, 2022, in connection with this amendment, the Company recorded a $0.1 million loss on debt extinguishment related to the write-off of certain deferred financing costs on the Revolving Credit Facility. Prior to the February 2022 amendment, the Revolving Credit Facility had a term of four years beginning on April 12, 2019, with an extension option of up to six months exercisable by the Operating Partnership, subject to certain conditions, and the 2024 Term Loan was set to mature on April 12, 2024. The loans under each of the Revolving Credit Facility and the 2024 Term Loan initially bore interest at an annual rate of applicable LIBOR plus the applicable margin (which applicable margin varied between the Revolving Credit Facility and the 2024 Term Loan). The applicable LIBOR was the rate with a term equivalent to the interest period applicable to the relevant borrowing. The applicable margin was initially a spread set according to a leverage-based pricing grid. The Revolving Credit Facility matures on February 10, 2026, with two extension options of six months each, exercisable by the Operating Partnership subject to the satisfaction of certain conditions. The loans under each of the Revolving Credit Facility and the 2024 Term Loan initially bear interest at an annual rate of applicable Adjusted Term SOFR (as defined in the Credit Agreement) plus an applicable margin (which applicable margin varies between the Revolving Credit Facility and the 2024 Term Loan). The Adjusted Term SOFR is a rate with a term equivalent to the interest period applicable to the relevant borrowing. In addition, the Operating Partnership is required to pay a revolving facility fee throughout the term of the Revolving Credit Facility. The applicable margin and the revolving facility fee rate are initially a spread and rate, as applicable, set according to a leverage-based pricing grid. At the Operating Partnership's election, on and after receipt of an investment grade corporate credit rating from S&P, Moody's or Fitch, the applicable margin and the revolving facility fee rate will be a spread and rate, as applicable, set according to the credit ratings provided by S&P, Moody's and/or Fitch. In July 2022, the Credit Agreement was further amended to provide for an additional $400.0 million of second tranche term loans (the “2028 Term Loan”). Loans under the 2028 Term Loan in an aggregate principal amount of $250.0 million were drawn in July 2022, concurrently with the closing of such amendment, and the remaining $150 million was drawn in October 2022. Such amendment also amended the applicable margin grid such that the applicable pricing for all borrowings under the Credit Agreement is based on the credit rating of the Company’s long-term senior unsecured non-credit enhanced debt for borrowed money (subject to a single step-down in the applicable pricing if the Company achieves a consolidated leverage ratio that is less than 0.35 to 1:00 while maintaining a credit rating of BBB/Baa2 from S&P, Moody's and/or Fitch), and reset the accordion feature to maintain the $600.0 million availability thereunder. In August 2023, the Credit Agreement was further amended to provide for an additional $450.0 million of term loans (the "2029 Term Loan"). Concurrently with the closing of such amendment, loans under the 2029 Term Loan in an aggregate principal amount of $250.0 million were drawn, a portion of which was used to pay off the 2024 Term Loan in full. Additional loans under the 2029 Term Loan were drawn in an aggregate principal amount of $125.0 million in September 2023 and $75.0 million in October 2023. The 2029 Term Loan has an original maturity of three years, which may be extended, at the Operating Partnership's election, to February 2029 by exercising two one-year extension options and a six-month extension option. The 2029 Term Loan will initially bear interest at an annual rate of applicable Adjusted Term SOFR plus an applicable margin. Amounts previously borrowed and repaid under the 2024 Term Loan cannot be reborrowed. The Company accounted for the repayment of the 2024 Term Loan as a debt extinguishment and recorded a $0.1 million loss on debt extinguishment during the year ended December 31, 2023. Each of the Revolving Credit Facility, the 2028 Term Loan and the 2029 Term Loan is freely pre-payable at any time. Outstanding credit extensions under the Revolving Credit Facility are mandatorily payable if the amount of such credit extensions exceeds the revolving facility limit. The Operating Partnership may re-borrow amounts paid down on the Revolving Credit Facility prior to its maturity. Loans repaid under the 2028 Term Loan and 2029 Term Loan cannot be reborrowed. The Operating Partnership is the borrower under the Credit Agreement, and the Company and certain of its subsidiaries that own direct or indirect interests in an eligible real property assets are guarantors under the Credit Agreement. Under the terms of the Credit Agreement, the Company is subject to various restrictive financial and nonfinancial covenants which, among other things, require the Company to maintain certain leverage ratios, cash flow and debt service coverage ratios and secured borrowing ratios. The Company was in compliance with all financial covenants and was not in default on any provisions under the Credit Agreement as of December 31, 2023 and 2022. The following table presents information about the Revolving Credit Facility for the periods presented: (in thousands) 2023 2022 2021 Balance on January 1, $ — $ 144,000 $ 18,000 Borrowings 70,000 299,000 393,000 Repayments (70,000) (443,000) (267,000) Balance on December 31, $ — $ — $ 144,000 The following table presents information about interest expense related to the Revolving Credit Facility for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Interest expense and fees $ 1,038 $ 2,807 $ 1,552 Amortization of deferred financing costs 1,203 1,217 1,165 Total $ 2,241 $ 4,024 $ 2,717 Total deferred financing costs, net, of $2.5 million and $3.7 million related to the Revolving Credit Facility are included within rent receivables, prepaid expenses and other assets, net on the Company’s consolidated balance sheets as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, the Company had $600.0 million of unused borrowing capacity under the Revolving Credit Facility. 2027 Term Loan On November 26, 2019, the Company, through the Operating Partnership, entered into a $430 million term loan (the “2027 Term Loan”) with a group of lenders. The 2027 Term Loan provides for term loans to be drawn up to an aggregate amount of $430 million with an initial maturity of November 26, 2026. The Company borrowed the entire $430.0 million available under the 2027 Term Loan in separate draws in December 2019 and March 2020. In February 2022, the Company entered into an amendment to the 2027 Term Loan to, among other things, reduce the leverage-based margin applicable to borrowings, extend the maturity date of the 2027 Term Loan to February 18, 2027, replace the LIBOR reference rate with reference to the Adjusted Term SOFR rate, consistent with market practice, and change the composition and extent of lender participation under the 2027 Term Loan. During the year ended December 31, 2022, in connection with this amendment, the Company recorded a $2.1 million loss on debt extinguishment related to fees and the write-off of certain deferred financing costs on the 2027 Term Loan. In August 2022, the Company entered into an amendment to the 2027 Term Loan to make certain changes to provisions relating to the rates and other matters to reflect changes in market standards. Prior to its amendment in February 2022, borrowings under the 2027 Term Loan bore interest at an annual rate of applicable LIBOR plus the applicable margin. Following this amendment, the 2027 Term Loan bears interest at an annual rate of applicable Adjusted Term SOFR plus the applicable margin. The applicable LIBOR/Adjusted Term SOFR is the rate with a term equivalent to the interest period applicable to the relevant borrowing. The applicable margin was initially a spread set according to a leverage-based pricing grid. In May 2022, the Operating Partnership made an irrevocable election to have the applicable margin be a spread set according to the Company’s corporate credit ratings provided by S&P, Moody’s and/or Fitch. The 2027 Term Loan is pre-payable at any time by the Operating Partnership (as borrower) without penalty. The Operating Partnership may not re-borrow amounts paid down on the 2027 Term Loan. The 2027 Term Loan has an accordion feature to increase, subject to certain conditions, the maximum availability of the facility up to an aggregate of $500 million. The Operating Partnership is the borrower under the 2027 Term Loan, and the Company and certain of its subsidiaries that own direct or indirect interests in eligible real property assets are guarantors under the facility. Under the terms of the 2027 Term Loan, the Company is subject to various restrictive financial and nonfinancial covenants which, among other things, require the Company to maintain certain leverage ratios, cash flow and debt service coverage ratios and secured borrowing ratios and a minimum level of tangible net worth. The Company was in compliance with all financial covenants and was not in default of any provisions under the 2027 Term Loan as of December 31, 2023 and 2022. The following table presents information about aggregate interest expense related to the 2024 Term Loan, 2027 Term Loan, 2028 Term Loan and 2029 Term Loan: Year ended December 31, (in thousands) 2023 2022 2021 Interest expense $ 66,582 $ 23,967 $ 9,819 Amortization of deferred financing costs 1,617 836 736 Total $ 68,199 $ 24,803 $ 10,555 As of December 31, 2023 and 2022, total deferred financing costs, net, of $7.2 million and $4.5 million, respectively, related to the term loan facilities are included as a component of unsecured term loans, net of deferred financing costs on the Company’s consolidated balance sheets. The Company fixed the interest rates on its variable-rate term loan debt through the use of interest rate swap agreements. See Note 6—Derivative and Hedging Activities for additional information. Senior Unsecured Notes In June 2021, through its Operating Partnership, the Company completed a public offering of $400.0 million aggregate principal amount of 2.950% Senior Notes due 2031 (the "2031 Notes"), resulting in net proceeds of $396.6 million. The 2031 Notes were issued by the Operating Partnership, and the obligations of the Operating Partnership under the 2031 Notes are fully and unconditionally guaranteed on a senior basis by the Company. The 2031 Notes were issued at 99.8% of their principal amount. In connection with the offering of the 2031 Notes, the Operating Partnership incurred $4.7 million in deferred financing costs and an offering discount of $0.8 million. The following is a summary of the senior unsecured notes outstanding as of December 31, 2023 and 2022: (dollars in thousands) Maturity Date Interest Payment Dates Stated Interest Rate Principal Outstanding 2031 Notes July 15, 2031 January 15 and July 15 2.95 % $ 400,000 The Company's senior unsecured notes are redeemable in whole at any time or in part from time to time, at the Operating Partnership's option, at a redemption price equal to the sum of: • 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest, if any, up to, but not including, the redemption date; and • a make-whole premium calculated in accordance with the indenture governing the notes. In addition, if any of the 2031 Notes are redeemed on or after April 15, 2031 (three months prior to the stated maturity date of such notes), the redemption price will equal 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest, if any, up to, but not including, the redemption date, without any make-whole premium. The following table presents information about interest expense related to the Company's senior unsecured notes for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Interest expense $ 11,713 $ 11,711 $ 5,952 Amortization of deferred financing costs and original issue discount 560 562 295 Total $ 12,273 $ 12,273 $ 6,247 Total deferred financing costs, net, of $3.6 million and $4.0 million related to the Company's senior unsecured notes were included within senior unsecured notes, net on the Company's consolidated balance sheets as of December 31, 2023 and 2022, respectively. The Company was in compliance with all financial covenants and was not in default of any provisions under the 2031 Notes as of December 31, 2023 and 2022.

Derivative and Hedging Activiti

Derivative and Hedging Activities	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative and Hedging Activities	Derivative and Hedging Activities The Company does not enter into derivative financial instruments for speculative or trading purposes. The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. These derivatives are considered cash flow hedges and are recorded on a gross basis at fair value. Subsequent to the adoption of ASU 2017-12, assessments of hedge effectiveness are performed quarterly using either a qualitative or quantitative approach. The Company recognizes the entire change in the fair value in accumulated other comprehensive income (loss) and the change is reflected as derivative changes in fair value in the supplemental disclosures of non-cash financing activities in the consolidated statements of cash flows. The amounts recorded in accumulated other comprehensive income (loss) will subsequently be reclassified to interest expense as interest payments are made on the Company's borrowings under its variable-rate term loan facilities. During the next twelve months, the Company estimates that $22.4 million will be reclassified from accumulated other comprehensive income as a decrease to interest expense. The Company does not have netting arrangements related to its derivatives. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations. As of December 31, 2023 and 2022, there were no events of default related to the Company's derivative financial instruments. The following table summarizes the notional amount at inception and fair value of these instruments on the Company's balance sheets as of December 31, 2023 and 2022 (dollar amounts in thousands): Fair Value of Asset/(Liability) (2) Derivatives Fixed Rate Paid by Effective Date Maturity Date Notional Value (1) December 31, 2023 December 31, 2022 Interest Rate Swap (3) 1.96% 5/14/2019 4/12/2024 $ 100,000 $ 981 $ 3,545 Interest Rate Swap (3) 1.95% 5/14/2019 4/12/2024 50,000 492 1,781 Interest Rate Swap (3) 1.94% 5/14/2019 4/12/2024 50,000 492 1,777 Interest Rate Swap (3) 1.52% 12/9/2019 11/26/2026 175,000 10,654 14,685 Interest Rate Swap (3) 1.51% 12/9/2019 11/26/2026 50,000 3,077 4,248 Interest Rate Swap (3) 1.49% 12/9/2019 11/26/2026 25,000 1,542 2,120 Interest Rate Swap (3) 1.26% 7/9/2020 11/26/2026 100,000 6,810 9,324 Interest Rate Swap (3) 1.28% 7/9/2020 11/26/2026 80,000 5,406 7,418 Interest Rate Swap 3.19% 9/26/2022 1/25/2028 50,000 688 1,166 Interest Rate Swap 3.35% 9/26/2022 1/25/2028 50,000 383 804 Interest Rate Swap 3.36% 9/26/2022 1/25/2028 25,000 180 387 Interest Rate Swap 3.43% 9/26/2022 1/25/2028 50,000 226 612 Interest Rate Swap 3.71% 9/26/2022 1/25/2028 50,000 (290) (12) Interest Rate Swap 3.70% 9/26/2022 1/25/2028 25,000 (144) (15) Interest Rate Swap 4.00% 10/26/2022 1/25/2028 50,000 (851) (693) Interest Rate Swap 3.95% 11/28/2022 1/25/2028 25,000 (378) (293) Interest Rate Swap 4.03% 11/28/2022 1/25/2028 25,000 (459) (396) Interest Rate Swap 4.06% 11/28/2022 1/25/2028 25,000 (485) (427) Interest Rate Swap 4.07% 11/28/2022 1/25/2028 25,000 (492) (428) Interest Rate Swap 4.15% 8/24/2023 2/28/2029 50,000 (1,550) — Interest Rate Swap 4.38% 9/29/2023 2/28/2029 75,000 (3,193) — Interest Rate Swap 4.39% 9/29/2023 2/28/2029 50,000 (2,114) — Interest Rate Swap 4.32% 10/11/2023 2/28/2029 25,000 (981) — Interest Rate Swap 4.32% 10/11/2023 2/28/2029 25,000 (980) — Interest Rate Swap 4.51% 10/31/2023 2/28/2029 25,000 (1,207) — Interest Rate Swap (4) 4.48% 4/12/2024 2/28/2029 100,000 (4,919) — Interest Rate Swap (4) 4.48% 4/12/2024 2/28/2029 100,000 (4,913) — $ 1,480,000 $ 7,975 $ 45,603 _____________________________________ (1) Notional value indicates the extent of the Company’s involvement in these instruments, but does not represent exposure to credit, interest rate or market risks. (2) Derivatives in an asset position are included within derivative assets and derivatives in a liability position are included within derivative liabilities in the Company's consolidated balance sheets. (3) In June 2022, the Company converted the reference rate used in these interest rate swaps from 1-month LIBOR to 1-month Adjusted Term SOFR. (4) The Company entered into two forward swap contracts during the year ended December 31, 2023. The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations. The following table presents amounts recorded to accumulated other comprehensive income related to derivative and hedging activities for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Other comprehensive (loss) income $ (36,874) $ 56,762 $ 22,508 As of December 31, 2023, the fair value of derivatives in a net asset position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $31.1 million and the fair value of derivatives in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $23.4 million. As of December 31, 2022, the fair value of derivatives in a net asset position, including accrued interest but excluding any adjustment for nonperformance risk related to these agreements, was $48.2 million and the fair value of derivatives in a net liability position, including accrued interest but excluding an adjustment for nonperformance risk related to these agreements, was $2.4 million. During the year ended December 31, 2023, the Company realized a gain on the change in fair value of its interest rate swaps of $27.7 million, which was included as a reduction of interest expense in the Company's consolidated statements of operations. During the years ended December 31, 2022 and 2021, the Company realized a loss on the change in fair value of its interest rate swaps of approximately $26,000 and $10.1 million, respectively, which are included in interest expense in the Company's consolidated statements of operations. As of December 31, 2023 and December 31, 2022, the Company had not posted any collateral related to these agreements and was not in breach of any provisions of such agreements. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value, which were a $7.7 million net asset and a $45.9 million net asset as of December 31, 2023 and 2022, respectively.

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Equity	Equity Stockholders' Equity In April 2021, the Company completed a follow-on primary offering of 8,222,500 shares of its common stock, including 1,072,500 shares of common stock purchased by the underwriters pursuant to an option to purchase additional shares, at a public offering price of $23.50 per share. Net proceeds from this follow-on offering, after deducting underwriting discounts and commissions and other expenses, were $185.1 million. In August 2022, the Company completed a follow-on primary offering of 8,740,000 shares of its common stock, including the full exercise of the underwriters' option to purchase 1,140,000 additional shares of common stock, at a public offering price of $23.00 per share. Net proceeds from this follow-on offering, after deducting underwriting discounts and commissions and other expenses, were $192.6 million. In February 2023, the Company completed a follow-on primary offering of 8,855,000 shares of its common stock, including the full exercise of the underwriters' option to purchase 1,155,000 additional shares of common stock, at a public offering price of $24.60 per share, and entered into forward sale agreements relating to all such shares. All shares were physically settled as of May 2023 and the Company realized net proceeds from this offering, after deducting underwriting discounts and commissions and other expenses, of $209.3 million. In September 2023, the Company completed a follow-on primary offering of 12,006,000 shares of its common stock, including the full exercise of the underwriters' option to purchase up to 1,566,000 additional shares of common stock, at a public offering price of $23.00 per share, and entered into forward sale agreements relating to all such shares. Through December 31, 2023, the Company physically settled 8,165,087 shares under the forward sale agreements relating to this offering, realizing net proceeds of $180.0 million. Assuming full physical settlement of the remaining forward sale agreements, net proceeds from this offering, after deducting underwriting discounts and commissions and other expenses and making certain other adjustments as provided in the forward sale agreements, are expected to be $263.4 million. The Company is required to settle the balance of the forward sale agreements by September 2024. At the Market Program In May 2022, the Company established a new at the market common equity offering program, pursuant to which it can publicly offer and sell, from time to time, shares of its common stock with an aggregate gross sales price of up to $500 million (the "2022 ATM Program") through the identified sales agents, as its sales agents or, if applicable, as forward sellers, or directly to such agents as principals. In addition to the issuance and sale by the Company of shares to or through the agents, the 2022 ATM Program also permits the Company to enter into separate forward sale agreements with the identified forward purchasers. References to the Company's "ATM Program" are to the 2022 ATM Program or the 2022 ATM Program and its prior ATM programs as the context requires. The following table presents information about the 2022 ATM Program and the Company's prior ATM Programs: Program Name Date Established Date Terminated Maximum Sales Authorization Gross Sales through December 31, 2023 2019 ATM Program August 2019 June 2020 $ 200,000 $ 184,400 2020 ATM Program June 2020 July 2021 $ 250,000 $ 166,800 2021 ATM Program July 2021 May 2022 $ 350,000 $ 348,140 2022 ATM Program (1) May 2022 $ 500,000 $ 220,643 _____________________________________ (1) Includes 1,937,450 shares that the Company sold on a forward basis and were not physically settled as of December 31, 2023. The following table details information related to activity under the ATM Program for each period presented: Year ended December 31, (in thousands, except share and per share data) 2023 2022 2021 Shares of common stock sold (1)(2) 5,931,654 9,794,137 10,005,890 Weighted average sale price per share $ 24.48 $ 24.00 $ 27.58 Gross proceeds $ 145,224 $ 235,060 $ 275,972 Net proceeds $ 142,922 $ 232,478 $ 271,949 _____________________________________ (1) Includes 1,937,450 shares that the Company sold on a forward basis and were not physically settled as of December 31, 2023. (2) During the year ended December 31, 2023, the Company issued an additional 957,453 shares of common stock which were previously sold on a forward basis under the ATM Program and were unsettled as of December 31, 2022. Dividends on Common Stock During the years ended December 31, 2023, 2022 and 2021, the Company's board of directors declared the following quarterly cash dividends on common stock: Date Declared Record Date Date Paid Dividend per Share of Total Dividend (dollars in thousands) December 1, 2023 December 29, 2023 January 12, 2024 $ 0.285 $ 47,024 September 7, 2023 September 29, 2023 October 13, 2023 $ 0.28 $ 43,788 June 9, 2023 June 30, 2023 July 14, 2023 $ 0.28 $ 43,551 March 7, 2023 March 31, 2023 April 14, 2023 $ 0.275 $ 41,031 November 30, 2022 December 30, 2022 January 13, 2023 $ 0.275 $ 39,246 September 2, 2022 September 30, 2022 October 14, 2022 $ 0.27 $ 38,533 June 2, 2022 June 30, 2022 July 14, 2022 $ 0.27 $ 35,916 March 14, 2022 March 31, 2022 April 13, 2022 $ 0.26 $ 34,188 December 3, 2021 December 31, 2021 January 13, 2022 $ 0.26 $ 32,466 September 2, 2021 September 30, 2021 October 14, 2021 $ 0.25 $ 30,397 May 27, 2021 June 30, 2021 July 15, 2021 $ 0.25 $ 29,559 March 5, 2021 March 31, 2021 April 15, 2021 $ 0.24 $ 26,265 The Company has determined that, during the years ended December 31, 2023, 2022 and 2021, approximately 86.0%, 79.7% and 69.4%, respectively, of the distributions it paid represented taxable income and 14.0%, 20.3% and 30.6%, respectively, of the distributions it paid represented return of capital for federal income tax purposes.

Non-controlling Interests

Non-controlling Interests	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling Interests Essential Properties OP G.P., LLC, a wholly owned subsidiary of the Company, is the sole general partner of the Operating Partnership and holds a 1.0% general partner interest in the Operating Partnership. The Company contributes the net proceeds from issuing shares of common stock to the Operating Partnership in exchange for a number of OP Units equal to the number of shares of common stock issued. OP Units ("OP Units") are limited partnership interests in the Operating Partnership. As of December 31, 2023, the Company held 164,635,150 OP Units, representing a 99.7% limited partner interest in the Operating Partnership. As of the same date, certain members of management and external parties (the "Non-controlling OP Unit Holders") held 553,847 OP Units in the aggregate, representing a 0.3% limited partner interest in the Operating Partnership. As of December 31, 2022, the Company held 142,379,655 OP Units, representing a 99.6% limited partner interest in the Operating Partnership and the Non-controlling OP Unit Holders held 553,847 OP Units in the aggregate, representing a 0.4% limited partner interest in the Operating Partnership. The OP Units held by the Non-controlling OP Unit Holders are presented as non-controlling interests in the Company's consolidated financial statements. A holder of OP Units has the right to distributions per unit equal to dividends per share paid on the Company's common stock and has the right to redeem OP Units for cash or, at the Company's election, shares of the Company's common stock on a one-for-one basis, provided, however, that such OP Units must have been outstanding for at least one year. Distributions to OP Unit holders are declared and paid concurrently with the Company's cash dividends to common stockholders. See Note 7—Equity for details.

Equity Based Compensation

Equity Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity Based Compensation	Equity Based Compensation Equity Incentive Plan In May 2023, the Company’s stockholders approved the Essential Properties Realty Trust, Inc. 2023 Incentive Plan (the “2023 Equity Incentive Plan”), which replaced the Essential Properties Realty Trust, Inc. 2018 Incentive Plan (the “2018 Equity Incentive Plan” and, collectively with the 2023 Equity Incentive Plan, the “Equity Incentive Plans”). The 2023 Equity Incentive Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, RSAs, RSUs, other stock awards, performance awards and LTIP units up to an aggregate of 4,300,808 shares of the Company’s common stock, subject to certain conditions. Officers, employees, non-employee directors, consultants, independent contractors and agents who provide services to the Company or to any subsidiary of the Company are eligible to receive such awards. All subsequent awards of equity will be granted under the 2023 Equity Incentive Plan, and no further awards will be made under the 2018 Equity Incentive Plan. The following table presents information about the Company's RSAs and RSUs during the years ended December 31, 2023, 2022 and 2021: Restricted Stock Awards Restricted Stock Units Shares Wtd. Avg. Grant Date Fair Value Units Wtd. Avg. Grant Date Fair Value Unvested, January 1, 2021 240,598 $ 13.73 321,602 $ 25.27 Granted — — 213,686 31.78 Vested (221,694) 13.70 (72,879) 18.83 Forfeited — — (7,717) 23.52 Unvested, December 31, 2021 18,904 $ 14.12 454,692 $ 29.39 Unvested, January 1, 2022 18,904 $ 14.12 454,692 $ 29.39 Granted — — 607,347 29.08 Vested (9,865) 14.12 (243,640) 25.70 Forfeited — — (1,019) 27.25 Unvested, December 31, 2022 9,039 $ 14.12 817,380 $ 30.26 Unvested, January 1, 2023 9,039 $ 14.12 817,380 $ 30.26 Granted — — 457,859 31.39 Vested (9,039) 14.12 (436,967) 26.98 Forfeited — — (94,419) 32.79 Unvested, December 31, 2023 — $ 14.12 743,853 $ 32.56 Restricted Stock Awards In June 2018, an aggregate of 691,290 shares of RSAs were issued to the Company's directors, executive officers and other employees under the Equity Incentive Plans. These RSAs vested over periods ranging from one year to three years from the date of grant, subject to the individual recipient's continued provision of service to the Company through the applicable vesting dates. In January 2019, RSAs relating to an aggregate of 46,368 shares of unvested restricted common stock were granted to the Company's executive officers, other employees and an external consultant under the Equity Incentive Plans. These RSAs vested over periods ranging from one year to four years from the date of grant, subject to the individual recipient's continued provision of service to the Company through the applicable vesting dates. The Company estimates the grant date fair value of RSAs granted under the Equity Incentive Plans using the average market price of the Company's common stock on the date of grant. The following table presents information about the Company's RSAs for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Compensation cost recognized in general and administrative expense $ 2 $ 128 $ 1,548 Dividends declared on unvested RSAs and charged directly to distributions in excess of cumulative earnings — 8 70 Fair value of shares vested during the period 128 139 3,037 The following table presents information about the Company's RSAs as of the dates presented: December 31, (Dollars in thousands) 2023 2022 2021 Total unrecognized compensation cost $ — $ 2 $ 130 Weighted average period over which compensation cost will be recognized (in years) — 0.1 1.0 Restricted Stock Units In 2019, 2020, 2021, 2022 and 2023 the Company issued target grants of 119,085, 84,684, 126,353, 149,699 and 147,587 performance-based RSUs, respectively, to the Company's senior management team under the Equity Incentive Plans. Of these awards, 75% are non-vested RSUs for which vesting percentages and the ultimate number of units vesting is calculated based on the total stockholder return ("TSR") of the Company's common stock as compared to the TSR of peer companies identified in the grant agreements. The payout schedule can produce vesting percentages ranging from 0% to 250% of target. TSR is calculated over the performance period for each award based upon the average closing price for the 20-trading day period ending December 31st of the year prior to grant divided by the average closing price for the 20-trading day period ending December 31st of the third year following the grant. The target number of units is based on achieving a TSR equal to the 50th percentile of the peer group. The Company records expense on these TSR RSUs based on achieving the target. The grant date fair value of the TSR RSUs was measured using a Monte Carlo simulation model based on the following assumptions: Grant Year 2023 2022 2021 Volatility 37% 54% 55% Risk free rate 4.36% 1.68% 0.20% The remaining 25% of these performance-based RSUs vest based on the Compensation Committee's subjective evaluation of the individual recipient's achievement of certain strategic objectives over the performance period of the award. In January 2022 and February 2023, the Compensation Committee identified specific performance targets and completed its subjective evaluation in relation to the performance-based RSUs granted in 2019 and 2020 and concluded that 78,801 and 50,598 RSUs, respectively, should be awarded. 50% of these RSUs vested immediately upon the Compensation Committee's certification and the remaining 50% vested on December 31, 2022 and December 31, 2023. The Company began recording compensation expense with respect to these subjective performance-based RSUs granted in 2019 and 2020 after the completion of the Compensation Committee's subjective evaluation. In April 2023, the Compensation Committee evaluated and awarded 11,334 subjective performance-based RSUs to a former member of the Company's senior management team, which vested immediately. During the year ended December 31, 2023, the Company recorded $0.3 million of compensation expense related to the subjective RSUs awarded to this former employee. As of December 31, 2023, the Compensation Committee had not identified specific performance targets relating to the individual recipients' achievement of strategic objectives for the remainder of the subjective awards granted in 2021, 2022 and 2023. As such, these awards do not have either a service inception or a grant date for GAAP accounting purposes and the Company recorded no compensation expense with respect to this portion of the performance-based RSUs during the years ended December 31, 2023, 2022 and 2021. In 2020, 2021, 2022 and 2023, the Company issued an aggregate of 184,760, 135,686, 199,793 and 210,406 RSUs, respectively, to the Company’s executive officers, other employees and directors under the Equity Incentive Plan. These awards vest over a period of up to five years from the date of grant, subject to the individual recipient’s continued provision of service to the Company through the applicable vesting dates. In January 2022, the Company issued 69,372 performance-based RSUs (at target) to an executive officer under the Equity Incentive Plans. These RSUs vest based on the compound annual growth rate of the Company's adjusted funds from operations ("AFFO CAGR") over a five year performance period, and the payout schedule can produce vesting percentages ranging from 0% to 200% of target. To the extent the performance goal is achieved, these performance-based RSUs will vest in 50% increments on each of the four-year and five-year anniversary of the grant date, subject to the recipient's continued provision of service to the Company through the applicable vesting dates. As of December 31, 2023 and 2022, based on its AFFO CAGR forecasts, the Company believes it is probable that the maximum performance level will be achieved and recorded compensation expense based off of this estimate during the years ended December 31, 2023 and 2022. A portion of the RSUs that vested in 2023, 2022, and 2021 were net share settled such that the Company withheld shares with a value equal to the relevant employee's income and employment tax obligations with respect to the vesting and remitted a cash payment to the appropriate taxing authority. The following table presents information about the Company's RSUs for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Compensation cost recognized in general and administrative expense $ 9,002 $ 9,361 $ 4,135 Dividend equivalents declared and charged directly to distributions in excess of cumulative earnings 407 366 241 Fair value of units vested during the period 11,791 6,262 1,372 The following table presents information about the Company's RSUs as of the dates presented: December 31, (Dollars in thousands) 2023 2022 Total unrecognized compensation cost $ 13,131 $ 13,761 Weighted average period over which compensation cost will be recognized (in years) 2.2 2.8

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The Company computes net income per share pursuant to the guidance in FASB ASC Topic 260, Earnings Per Share . The guidance requires the classification of the Company’s unvested restricted common stock and units, which contain rights to receive non-forfeitable dividends or dividend equivalents, as participating securities requiring the two-class method of computing net income per share. Diluted net income per share of common stock further considers the effect of potentially dilutive shares of common stock outstanding during the period, including the assumed vesting of RSUs with market-, performance- or service-based vesting conditions, where dilutive. The OP Units held by non-controlling interests represent potentially dilutive securities as the OP Units may be redeemed for cash or, at the Company’s election, exchanged for shares of the Company’s common stock on a one-for-one basis. The following is a reconciliation of the numerator and denominator used in the computation of basic and diluted net income per share (dollars in thousands): Year ended December 31, (dollar amounts in thousands) 2023 2022 2021 Numerator for basic and diluted earnings per share: Net income $ 191,415 $ 134,742 $ 96,211 Less: net income attributable to non-controlling interests (708) (612) (486) Less: net income allocated to unvested RSAs and RSUs (407) (374) (311) Net income available for common stockholders: basic 190,300 133,756 95,414 Net income attributable to non-controlling interests 708 612 486 Net income available for common stockholders: diluted $ 191,008 $ 134,368 $ 95,900 Denominator for basic and diluted earnings per share: Weighted average common shares outstanding 152,140,896 134,950,418 116,479,322 Less: weighted average number of shares of unvested RSAs (161) (9,230) (121,263) Weighted average shares outstanding used in basic net income per share 152,140,735 134,941,188 116,358,059 Effects of dilutive securities: (1) OP Units 553,847 553,847 553,847 Unvested RSAs and RSUs 421,292 356,044 554,432 Forward sales 405,980 4,837 — Weighted average shares outstanding used in diluted net income per share 153,521,854 135,855,916 117,466,338 _____________________________________ (1) Excludes the impact of 179,807 and 171,059 unvested RSUs and unsettled forward equity sales for the years ended December 31, 2023 and 2022, respectively, as the effect would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of December 31, 2023, the Company had remaining future commitments, under mortgage notes, reimbursement obligations or similar arrangements, to fund $180.6 million to its tenants for development, construction and renovation costs related to properties leased from the Company. Litigation and Regulatory Matters In the ordinary course of business, the Company may become subject to litigation, claims and regulatory matters. As of December 31, 2023, there are no material legal or regulatory proceedings pending or known to be contemplated against the Company or its properties. Environmental Matters In connection with the ownership of real estate, the Company may be liable for costs and damages related to environmental matters. As of December 31, 2023, the Company had not been notified by any governmental authority of any non-compliance, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on the Company's business, financial condition, results of operations or liquidity. Defined Contribution Retirement Plan The Company has a defined contribution retirement savings plan qualified under Section 401(a) of the Code (the "401(k) Plan"). The 401(k) Plan is available to all of the Company's full-time employees. The Company provides a matching contribution in cash equal to 100% of the first 6% of eligible compensation contributed by participants, which vests immediately. The following table presents the matching contributions made by the Company for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, (in thousands) 2023 2022 2021 401(k) matching contributions $ 331 $ 318 $ 205 Employment Agreements The Company has employment agreements with certain of its executive officers. These employment agreements have an initial term of four years, with automatic one year extensions unless notice of non-renewal is provided by either party. These agreements provide for initial annual base salaries and an annual performance bonus. If an executive officer's employment terminates under certain circumstances, the Company would be liable for any annual performance bonus awarded for the year prior to termination, to the extent unpaid, continued payments equal to 12 months of base salary, monthly reimbursement for 12 months of COBRA premiums, and under certain situations, a pro rata bonus for the year of termination.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements GAAP establishes a hierarchy of valuation techniques based on the observability of inputs used in measuring financial instruments at fair value. GAAP establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures regularly and, depending on various factors, it is possible that an asset or liability may be classified differently from period to period. However, the Company expects that changes in classifications between levels will be rare. In addition to the disclosures for assets and liabilities required to be measured at fair value at the balance sheet date, companies are required to disclose the estimated fair values of all financial instruments, even if they are not presented at their fair value on the consolidated balance sheet.The fair values of financial instruments are estimates based upon market conditions and perceived risks at December 31, 2023 and 2022. These estimates require management's judgment and may not be indicative of the future fair values of the assets and liabilities. Financial assets and liabilities for which the carrying values approximate their fair values include cash and cash equivalents, restricted cash, accounts receivable included within rent receivables, prepaid expenses and other assets, net, dividends payable and accrued liabilities and other payables. Generally, these assets and liabilities are short term in duration and their carrying value approximates fair value on the consolidated balance sheets. The estimated fair values of the Company’s fixed-rate loans receivable have been derived based on primarily unobservable market inputs such as interest rates and discounted cash flow analyses using estimates of the amount and timing of future cash flows, market rates and credit spreads. These measurements are classified as Level 3 within the fair value hierarchy. The Company believes the carrying value of its fixed-rate loans receivable approximates fair value as of December 31, 2023 and 2022. The estimated fair values of the Company’s borrowings under the Revolving Credit Facility, the 2024 Term Loan, the 2027 Term Loan, the 2028 Term Loan and the 2029 Term Loan have been derived based on primarily unobservable market inputs such as interest rates and discounted cash flow analyses using estimates of the amount and timing of future cash flows, market rates and credit spreads. These measurements are classified as Level 3 within the fair value hierarchy. The Company believes the carrying value of its borrowings under the Revolving Credit Facility, the 2024 Term Loan, the 2027 Term Loan, the 2028 Term Loan, and the 2029 Term Loan as of December 31, 2023 and 2022 approximate fair value. The Company measures the fair value of its senior unsecured notes and derivative financial instruments on a recurring basis. The fair values of these financial assets and liabilities were determined using the following input levels as of the dates presented: Net Carrying Value Fair Value Measurements Using Fair (in thousands) Fair Value Level 1 Level 2 Level 3 December 31, 2023 Financial assets: Senior unsecured notes (1) $ 395,846 $ 315,336 $ 315,336 $ — $ — Interest rate swaps 7,975 7,975 — 7,975 — December 31, 2022 Financial assets: Senior unsecured notes (1) $ 395,286 $ 292,120 $ 292,120 $ — $ — Interest rate swaps 45,603 45,603 — 45,603 — _____________________________________ (1) Carrying value is net of $3.6 million and $4.0 million of net deferred financing costs and $0.6 million and $0.7 million of net discount as of December 31, 2023 and 2022, respectively. The Company measures its real estate investments at fair value on a nonrecurring basis. The fair values of real estate investments that were impaired as of the dates presented were determined using the following input levels: Net Carrying Value Fair Value Measurements Using Fair (in thousands) Fair Value Level 1 Level 2 Level 3 December 31, 2023 Non-financial assets: Long-lived assets $ 4,510 $ 4,510 $ — $ — $ 4,510 December 31, 2022 Non-financial assets: Long-lived assets $ 12,144 $ 12,144 $ — $ — $ 12,144 Long-Lived Assets The Company reviews its investments in real estate when events or circumstances change indicating that the carrying amount of an asset may not be recoverable. In the evaluation of an investment in real estate for impairment, many factors are considered, including estimated current and expected operating cash flows from the asset during the projected holding period, costs necessary to extend the life or improve the asset, expected capitalization rates, projected stabilized net operating income, selling costs, and the ability to hold and dispose of the asset in the ordinary course of business. Quantitative information about Level 3 fair value measurements as of December 31, 2023 is as follows: (dollar amounts in thousands) Fair Value Valuation Techniques Significant Unobservable Non-financial assets: Long-lived assets Convenience store $ 1,500 Sales comparison approach Non-binding sales agreement $ 1,500 Pet care services 2,139 Sales comparison approach Binding sales agreement 2,139 Quick service restaurant 871 Discounted cash flow approach Terminal value: 8.0% Discount rate: 8.5% 871 The fair values of impaired real estate were determined by using the following information, depending on availability, in order of preference: (i) signed purchase and sale agreements or letters of intent; (ii) recently quoted

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated all events and transactions that occurred after December 31, 2023 through the filing of this Annual Report on Form 10-K and determined that there have been no events that have occurred that would require adjustment to disclosures in the consolidated financial statements except as disclosed below. Equity Awards In January 2024, the Company issued an aggregate of 51,158 shares of unvested RSUs to certain of the Company’s employees under the Equity Incentive Plan. These awards vest over a period of up to four years from the date of grant, subject to the individual recipient’s continued provision of service to the Company through the applicable vesting dates. Subsequent Acquisition and Disposition Activity Subsequent to December 31, 2023, the Company invested in 12 real estate properties for an aggregate investment amount (including acquisition-related costs) of $16.8 million and invested $10.1 million in new and ongoing construction in progress and reimbursements to tenants for development, construction and renovation costs related to properties leased from the Company. In addition, the Company invested $14.0 million in mortgage loans receivable subsequent to December 31, 2023. Subsequent to December 31, 2023, the Company sold its investment in four real estate properties for an aggregate gross sales price of $9.1 million and incurred $0.3 million of disposition costs related to these transactions. 2022 ATM Program Activity In January 2024, the Company sold 34,000 shares of its common stock on a forward basis under the 2022 ATM Program for gross proceeds of $0.9 million. Forward Equity Settlement In January 2024, the Company physically settled 1,374,363 shares of its common stock sold on a forward basis under the September 2023 follow-on primary offering for net proceeds of $30.0 million. All settled shares were sold on a forward basis during the year ended December 31, 2023.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	ESSENTIAL PROPERTIES REALTY TRUST, INC. (a) As of December 31, 2023, the Company had investments in 1,873 single-tenant real estate property locations including 1,726 owned properties, 11 ground lease interests and 136 properties securing mortgage notes receivable. Three of the Company’s owned properties are subject to leases accounted for as direct financing leases and are excluded from the table above. Additionally, the table above excludes two owned properties which are accounted for as loans receivable, as the leases contain purchase options, and four owned properties which are held for sale as of December 31, 2023. Initial costs exclude intangible lease assets totaling $78.1 million. (b) Amounts shown as reductions to cost capitalized subsequent to acquisition represent provisions recorded for impairment of real estate or partial land dispositions. (c) The aggregate cost for federal income tax purposes is $4.3 billion. (d) The following is a reconciliation of carrying value for land and improvements and building and improvements for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Balance, beginning of period $ 3,669,317 $ 3,040,073 $ 2,260,919 Additions Acquisitions 887,407 751,610 831,795 Improvements 51,323 27,609 9,459 Deductions Provisions for impairment of real estate (3,548) (20,164) (6,120) Real estate investments held for sale (7,455) (4,780) (15,434) Cost of real estate sold (116,029) (123,081) (40,546) Other (701) (1,949) — Balance, end of period $ 4,480,314 $ 3,669,317 $ 3,040,073 (e) The following is a reconciliation of accumulated depreciation for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Balance, beginning of period $ 238,022 $ 169,126 $ 112,144 Additions Depreciation expense 95,527 80,647 61,172 Deductions Accumulated depreciation associated with real estate investments sold and held for sale (11,605) (11,751) (4,190) Balance, end of period $ 321,944 $ 238,022 $ 169,126 (f) Depreciation is calculated using the straight-line method over the estimated useful lives of the properties, which is up to 40 years for buildings and improvements and 15 years for land improvements.

Schedule IV - Mortgage Loans on

Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loans on Real Estate	ESSENTIAL PROPERTIES REALTY TRUST, INC. Schedule IV - Mortgage Loans on Real Estate As of December 31, 2023 (Dollar amounts in thousands) Description # of Properties Interest Final Periodic Final Prior Face Carrying Principal Amount First mortgage loans: Early Childhood Education Centers located in Florida 2 8.80% 5/9/2039 Interest only Balloon - $12,000 None $ 12,000 $ 11,874 None Early Childhood Education Centers located in Florida 2 8.53% 7/17/2039 Interest only Balloon - $7,300 None 7,300 7,220 None Quick Service Restaurants located in fifteen states 69 7.79% 8/31/2034 Interest only Balloon - $51,000 None 51,000 50,995 None Early Childhood Education Center located in Florida 1 8.42% 2/29/2040 Interest only Balloon - $5,300 None 5,300 5,247 None Convenience Stores located in Minnesota 2 8.54% 12/31/2024 Interest only Balloon - $1,785 None 1,785 1,754 None Family Dining Restaurant located in Georgia 1 7.00% 6/28/2024 Interest only Balloon - $500 None 500 500 None Convenience Stores located in Wisconsin and Iowa 2 8.33% 12/31/2024 Interest only Balloon - $994 None 994 972 None Casual Dining Restaurants located in Kentucky and Ohio 2 6.87% 5/31/2036 Interest only Balloon - $2,520 None 2,520 2,520 None Convenience Stores located in Iowa 2 8.33% 12/31/2024 Interest only Balloon - $2,389 None 2,389 2,326 None Entertainment Center located in New Jersey 1 8.96% 9/30/2051 Principal + Interest Fully amortizing None 24,100 24,089 None Car Washes located in Nevada 5 7.30% 12/31/2036 Interest only Balloon - $25,714 None 25,714 25,711 None Car Wash located in Florida 1 7.73% 12/29/2036 Interest only Balloon - $2,470 None 2,470 2,464 None Casual Dining Restaurant located in Michigan 1 8.00% 1/31/2024 Interest only Balloon - $1,754 None 1,754 1,709 None Quick Service Restaurants located in three states 26 7.00% 2/28/2027 Interest only Balloon - $17,494 None 17,494 17,407 None Car Wash located in New Jersey 1 7.73% 3/31/2037 Interest only Balloon - $3,600 None 3,600 3,591 None Convenience Store located in Minnesota 1 8.30% 4/22/2024 Interest only Balloon - $760 None 760 739 None Car Wash located in Nevada 1 7.33% 12/31/2036 Interest only Balloon - $4,960 None 4,960 4,947 None Car Wash located in Nevada 1 7.43% 12/31/2036 Interest only Balloon - $4,800 None 4,800 4,788 None Car Washes located in three states 4 8.64% 12/31/2037 Interest only Balloon - $12,250 None 12,250 12,246 None Car Washes located in five states 9 8.85% 12/31/2037 Interest only Balloon - $25,993 None 25,993 25,942 None Entertainment Center located in Missouri 1 8.84% 1/13/2038 Interest only Balloon - $10,200 None 10,200 10,189 None Fitness Center located in Florida 1 8.10% 11/30/2025 Interest only Balloon - $2,891 None 2,891 2,891 None $ 220,774 $ 220,121 The following table shows changes in carrying amounts of mortgage loans receivable during the years ended December 31, 2023, 2022 and 2021 (in thousands): Year ended December 31, 2023 2022 2021 Balance, beginning of period $ 233,978 $ 181,419 $ 144,048 Additions: New mortgage loans 13,091 126,784 137,356 Subsequent funding on existing mortgage loans 17,236 — Deductions: Collections of principal (27,029) (91,488) (100,179) Provision for credit losses 81 27 194 Balance, end of period $ 220,121 $ 233,978 $ 181,419 See accompanying report of independent registered public accounting firm.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 190,707	$ 134,130	$ 95,725

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The accompanying consolidated financial statements of the Company are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”).
Principles of Consolidation	Principles of Consolidation
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Reportable Segments	Reportable Segments
Real Estate Investments	Real Estate Investments Investments in real estate are carried at cost less accumulated depreciation and impairment losses. The cost of investments in real estate reflects their purchase price or development cost. The Company evaluates each acquisition transaction to determine whether the acquired asset meets the definition of a business. Under Accounting Standards Update ("ASU") 2017-1, Business Combinations (Topic 805): Clarifying the Definition of a Business , an acquisition does not qualify as a business when there is no substantive process acquired or substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets or the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. Transaction costs related to acquisitions that are asset acquisitions are capitalized as part of the cost basis of the acquired assets, while transaction costs for acquisitions that are deemed to be acquisitions of a business are expensed as incurred. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred. The Company incurs various costs in the leasing and development of its properties. Amounts paid to tenants that incentivize them to extend or otherwise amend an existing lease or to sign a new lease agreement are capitalized to lease incentives on the Company's consolidated balance sheets. Tenant improvements are capitalized to building and improvements within the Company's consolidated balance sheets. Costs incurred which are directly related to properties under development, which include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs and real estate taxes and insurance, are capitalized during the period of development as construction in progress. After the determination is made to capitalize a cost, it is allocated to the specific component of a project that benefited. Determination of when a development project commences, and capitalization begins, and when a development project has reached substantial completion, and is available for occupancy and capitalization must cease, involves a degree of judgment. The Company does not engage in speculative real estate development. The Company does, however, opportunistically agree to reimburse certain of its tenants for development costs at its properties in exchange for contractually-specified rent that generally increases proportionally with its funding. The Company allocates the purchase price of acquired properties accounted for as asset acquisitions to tangible and identifiable intangible assets or liabilities based on their relative fair values. Tangible assets may include land, site improvements and buildings. Intangible assets may include the value of in-place leases and above- and below-market leases and other identifiable intangible assets or liabilities based on lease or property specific characteristics. The fair value of the tangible assets of an acquired property with an in-place operating lease is determined by valuing the property as if it were vacant, and the "as-if-vacant" value is then allocated to the tangible assets based on the fair value of the tangible assets. The fair value of in-place leases is determined by considering estimates of carrying costs during the expected lease-up periods, current market conditions, as well as costs to execute similar leases based on the specific characteristics of each tenant's lease. The Company estimates the cost to execute leases with terms similar to the remaining lease terms of the in-place leases, including leasing commissions, legal and other related expenses. Factors the Company considers in this analysis include an estimate of the carrying costs during the 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, which primarily range from six In making estimates of fair values for purposes of allocating purchase price, the Company uses a number of sources, including real estate valuations prepared by independent valuation firms. The Company also considers information and other factors including market conditions, the industry that the tenant operates in, characteristics of the real estate (e.g., location, size, demographics, value and comparative rental rates), tenant credit profile and the importance of the location of the real estate to the operations of the tenant's business. Additionally, the Company considers information obtained about each property as a result of its pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired. The Company uses the information obtained as a result of its pre-acquisition due diligence as part of its consideration of the accounting standard governing asset retirement obligations and, when necessary, will record an asset retirement obligation as part of the purchase price allocation. Real estate investments that are intended to be sold are designated as "held for sale" on the consolidated balance sheets at the lesser of carrying amount and fair value less estimated selling costs. Real estate investments are no longer depreciated when they are classified as held for sale. If the disposal, or intended disposal, of certain real estate investments represents a strategic shift that has had or will have a major effect on the Company's operations and financial results, the operations of such real estate investments would be presented as discontinued operations in the consolidated statements of operations for all applicable periods.
Depreciation and Amortization	Depreciation and Amortization Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings and 15 years for site improvements. The Company recorded the following amounts of depreciation expense on its real estate investments during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Depreciation on real estate investments $ 95,527 $ 80,647 $ 61,171 Lease incentives are amortized on a straight-line basis as a reduction of rental income over the remaining non-cancellable terms of the respective leases. If a tenant terminates its lease, the unamortized portion of the lease incentive is charged to rental revenue. Construction in progress is not depreciated until the development has reached substantial completion. Tenant improvements are depreciated over the non-cancellable term of the related lease or their estimated useful life, whichever is shorter. Capitalized above-market lease intangibles are amortized on a straight-line basis as a reduction of rental revenue over the remaining non-cancellable terms of the respective leases. Capitalized below-market lease intangibles are accreted on a straight-line basis as an increase to rental revenue over the remaining non-cancellable terms of the respective leases including any below-market fixed rate renewal option periods. Capitalized above-market ground lease values are accreted as a reduction of property expenses over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property expenses over the remaining terms of the respective leases and any expected below-market renewal option periods where renewal is considered probable. The value of in-place leases, exclusive of the value of above-market and below-market lease intangibles, is amortized to depreciation and amortization expense on a straight-line basis over the remaining periods of the respective leases. If a tenant terminates its lease, the unamortized portion of each intangible, including in-place lease values, is charged to depreciation and amortization expense, while above- and below-market lease adjustments are recorded within rental revenue in the consolidated statements of operations.
Loans Receivable	Loans Receivable The Company holds its loans receivable for long-term investment. Loans receivable are carried at amortized cost, including related unamortized discounts or premiums, if any, less the Company's estimated allowance for credit losses. The Company recognizes interest income on loans receivable using the effective-interest method applied on a loan-by-loan basis. Direct costs associated with originating loans are offset against any related fees received and the balance, along with any premium or discount, is deferred and amortized as an adjustment to interest income over the term of the related loan receivable using the effective-interest method.
Direct Financing Lease Receivables and Adjustment to Rental Revenue for Tenant Credit	Direct Financing Lease Receivables Certain of the Company’s real estate investment transactions are accounted for as direct financing leases. The Company records the direct financing lease receivables at their net investment, determined as the aggregate minimum lease payments and the estimated non-guaranteed residual value of the leased property less unearned income. The unearned income is recognized over the term of the related lease so as to produce a constant rate of return on the net investment in the asset. The Company’s investment in direct financing lease receivables is reduced over the applicable lease term to its non-guaranteed residual value by the portion of rent allocated to the direct financing lease receivables. Adjustment to Rental Revenue for Tenant Credit The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. If the assessment of the collectability of substantially all payments due under a lease changes from probable to not probable, any difference between the rental revenue recognized to date and the lease payments that have been collected is recognized as a current period reduction of rental revenue in the consolidated statements of operations.
Allowance for Credit Losses	Allowance for Credit Losses Under ASC Topic 326, Financial Instruments - Credit Losses, the Company uses a real estate loss estimate model (“RELEM”) which estimates losses on its loans and direct financing lease receivable portfolio, for purposes of calculating allowances for credit losses. The RELEM allows the Company to refine (on an ongoing basis) the expected loss estimate by incorporating asset-specific assumptions as necessary, such as anticipated funding, interest payments, estimated extensions and estimated loan repayment/refinancing at maturity to estimate cash flows over the life of the loan or direct financing lease receivable. The model also incorporates assumptions related to underlying collateral values, various loss scenarios, and predicted losses to estimate expected losses. The Company's specific asset-level inputs include loan-to-stabilized-value (“LTV”), principal balance, property type, location, coupon, origination year, term, subordination, expected repayment date and future funding. The Company categorizes the results by LTV range, which it considers the most significant indicator of credit quality for its loans and direct financing lease receivables. A lower LTV ratio typically indicates a lower credit loss risk. The Company also evaluates each loan and direct financing lease receivable measured at amortized cost for credit deterioration at least quarterly. Credit deterioration occurs when it is deemed probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan or direct financing lease receivable.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes cash in the Company’s bank accounts. The Company considers all cash balances and highly liquid investments with original maturities of three months or less to be cash and cash equivalents. The Company deposits cash with high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to an insurance limit.
Restricted Cash	Restricted Cash Restricted cash primarily consists of cash proceeds from the sale of assets held by a qualified intermediary to facilitate tax-deferred exchange transactions under Section 1031 of the Internal Revenue Code of 1986, as amended (the "Code").
Forward Equity Sales	Forward Equity Sales The Company has and may continue to enter into forward sale agreements relating to shares of its common stock, either through its 2022 ATM Program (as defined herein) or through underwritten public offerings. These agreements may be physically settled in stock, settled in cash or net share settled at the Company’s election. The Company evaluated its forward sale agreements and concluded they meet the conditions to be classified within stockholders’ equity. Prior to settlement, a forward sale agreement will be reflected in the diluted earnings per share calculations using the treasury stock method. Under this method, the number of shares of the Company’s common stock used in calculating diluted earnings per share is deemed to be increased by the excess, if any, of the number of shares of the Company’s common stock that would be issued upon full physical settlement of such forward sale agreement over the number of shares of the Company’s common stock that could be purchased by the Company in the market (based on the average market price during the reporting period) using the proceeds receivable upon full physical settlement (based on the adjusted forward sale price at the end of the reporting period). Consequently, prior to settlement of a forward sale agreement, there will be no dilutive effect on the Company’s earnings per share except during periods when the average market price of the Company’s common stock is above the adjusted forward sale price. However, upon settlement of a forward sales agreement, if the Company elects to physically settle or net share settle such forward sale agreement, delivery of the Company’s shares will result in dilution to the Company’s earnings per share.
Deferred Financing Costs	Deferred Financing Costs Financing costs related to establishing the Company’s Revolving Credit Facility (as defined below) were deferred and are being amortized as an increase to interest expense in the consolidated statements of operations over the term of the facility and are reported as a component of rent receivables, prepaid expenses and other assets, net on the consolidated balance sheets. Financing costs related to the incurrence of borrowings under the Company's unsecured term loans and the issuance of senior unsecured notes were deferred and are being amortized as an increase to interest expense in the consolidated statements of operations over the term of the related debt instrument and are reported as a reduction of the related debt balance on the consolidated balance sheets.
Derivative Instruments	Derivative Instruments In the normal course of business, the Company uses derivative financial instruments, which may include interest rate swaps, caps, options, floors and other interest rate derivative contracts, to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability in cash flows on a portion of the Company’s floating-rate debt. Instruments that meet these hedging criteria are formally designated as hedges at the inception of the derivative contract. The Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may also enter into derivative contracts that are intended to economically hedge certain risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designated and qualifies for hedge accounting treatment. If a derivative is designated and qualifies for cash flow hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income to the extent that it is effective. Any ineffective portion of a change in derivative fair value is immediately recorded in earnings. If the Company elects not to apply hedge accounting treatment (or for derivatives that do not qualify as hedges), any change in the fair value of such derivative instruments would be recognized immediately as a gain or loss on derivative instruments in the consolidated statements of operations.
Fair Value Measurement	Fair Value Measurement The Company estimates the fair value of financial and non-financial assets and liabilities based on the framework established in fair value accounting guidance. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The hierarchy described below prioritizes inputs to the valuation techniques used in measuring the fair value of assets and liabilities. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs to be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows: Level 1—Quoted prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date. Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability. Level 3—Unobservable inputs that reflect the Company's own assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.
Revenue Recognition	Revenue Recognition The Company’s rental revenue is primarily rent received from tenants. Rent from tenants is recorded in accordance with the terms of each lease on a straight-line basis over the non-cancellable initial term of the lease from the later of the date of the commencement of the lease and the date of acquisition of the property subject to the lease. Rental revenue Generally, the Company’s leases provide the tenant with one or more multi-year renewal options, subject to generally the same terms and conditions provided under the initial lease term, including rent increases. If economic incentives make it reasonably certain that an option period to extend the lease will be exercised, the Company will include these options in determining the non-cancelable term of the lease. The Company defers rental revenue related to lease payments received from tenants in advance of their due dates. These amounts are presented within accrued liabilities and other payables on the Company’s consolidated balance sheets. Certain properties in the Company’s investment portfolio are subject to leases that provide for contingent rent based on a percentage of the tenant’s gross sales. For these leases, the Company recognizes contingent rental revenue when the threshold upon which the contingent lease payment is based is actually reached.
Offering Costs	Offering Costs
Income Taxes	Income Taxes The Company elected and qualified to be taxed as a REIT under sections 856 through 860 of the Code commencing with its taxable year ended December 31, 2018. REITs are subject to a number of organizational and operational requirements, including a requirement that 90% of ordinary “REIT taxable income” (as determined without regard to the dividends paid deduction or net capital gains) be distributed. As a REIT, the Company will generally not be subject to U.S. federal income tax to the extent that it meets the organizational and operational requirements and its distributions equal or exceed REIT taxable income. For the period subsequent to the effective date of its REIT election, the Company continues to meet the organizational and operational requirements and expects distributions to exceed REIT taxable income. Accordingly, no provision has been made for U.S. federal income taxes. Even though the Company has elected and qualifies for taxation as a REIT, it may be subject to state and local income and franchise taxes, and to federal income and excise tax on its undistributed income. Franchise taxes and federal excise taxes on the Company’s undistributed income, if any, are included in general and administrative expenses on the accompanying consolidated statements of operations. Additionally, taxable income from non-REIT activities managed through the Company's taxable REIT subsidiary is subject to federal, state, and local taxes. The Company analyzes its tax filing positions in all of the U.S. federal, state and local tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in such jurisdictions. The Company follows a two-step process to evaluate uncertain tax positions. Step one, recognition, occurs when an entity concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustained upon examination. Step two, measurement, determines the amount of benefit that is more-likely-than-not to be realized upon settlement. Derecognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. The use of a valuation allowance as a substitute for derecognition of tax positions is prohibited.
Equity-Based Compensation	Equity-Based Compensation The Company grants shares of restricted common stock ("RSAs") and restricted stock units (“RSUs”) to its directors, executive officers and other employees that vest over specified time periods, subject to the recipient’s continued service. The Company also grants performance-based RSUs to executive officers, the final number of which is determined based on objective and subjective performance conditions and which vest over a multi-year period, subject to the recipient’s continued service. The Company accounts for RSAs and RSUs in accordance with ASC 718, Compensation – Stock Compensation, which requires that such compensation be recognized in the financial statements based on its estimated grant-date fair value. The value of such awards is recognized as compensation expense in general and administrative expenses in the accompanying consolidated statements of operations over the applicable service periods. The Company recognizes compensation expense for equity-based compensation using the straight-line method based on the fair value of the award on the grant date. Forfeitures of equity-based compensation awards, if any, are recognized when they occur.
Variable Interest Entities	Variable Interest Entities The Financial Accounting Standards Board (“FASB”) provides guidance for determining whether an entity is a VIE. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. A VIE is required to be consolidated by its primary beneficiary, which is the party that (i) has the power to control the activities that most significantly impact the VIE’s economic performance and (ii) has the obligation to absorb losses, or the right to receive benefits, of the VIE that could potentially be significant to the VIE. The Company has concluded that the Operating Partnership is a VIE of which the Company is the primary beneficiary, as the Company has the power to direct the activities that most significantly impact the economic performance of the Operating Partnership. Substantially all of the Company’s assets and liabilities are held by the Operating Partnership. The assets and liabilities of the Operating Partnership are consolidated and reported as assets and liabilities on the Company’s consolidated balance sheets as of December 31, 2023 and 2022.
Recent Accounting Developments	Recent Accounting Developments In July 2021, the FASB issued ASU 2021-05, Lease (Topic 842): Lessors - Certain Leases with Variable Lease Payments ("ASU 2021-05"). The guidance in ASU 2021-05 amends the lease classification requirements for the lessors under certain leases containing variable payments to align with practice under ASC 840. The lessor should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: 1) the lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria in ASC 842-10-25-2 through 25-3; and 2) the lessor would have otherwise recognized a day-one loss. The amendments in ASU 2021-05 are effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The adoption of ASU 2021-05 did not have a material impact on the Company's consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The guidance in

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Depreciation Expense and Impairment on Real Estate Investments	The Company recorded the following amounts of depreciation expense on its real estate investments during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Depreciation on real estate investments $ 95,527 $ 80,647 $ 61,171
Schedule of Details of Impairment of Long-Lived Assets	The Company recorded the following provisions for impairment of long lived assets during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Provision for impairment of real estate $ 3,548 $ 20,164 $ 6,120
Schedule of Adjustments to Rental Revenue and Contingent Rent	The Company recorded the following amounts as contingent rent, which are included as a component of rental revenue in the Company's consolidated statements of operations, during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Contingent rent $ 743 $ 682 $ 721 The Company recorded the following adjustments as increases or decreases to rental revenue for tenant credit during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Adjustment to (decrease) increase rental revenue for tenant credit $ (640) $ (371) $ 2,900 The fixed and variable components of lease revenues for the years ended December 31, 2023, 2022, and 2021 were as follows: Year ended December 31, (in thousands) 2023 2022 2021 Fixed lease revenues $ 338,720 $ 270,694 $ 210,441 Variable lease revenues (1) 3,610 1,632 1,708 Total lease revenues (2) $ 342,330 $ 272,326 $ 212,149 _____________________________________ (1) Includes contingent rent based on a percentage of the tenant’s gross sales and costs paid by the Company for which it is reimbursed by its tenants. (2) Excludes the amortization and accretion of above- and below-market lease intangible assets and liabilities and lease incentives and the adjustment to rental revenue for tenant credit.
Schedule of Mortgage Loan-Related VIEs	The following table presents information about the Company’s mortgage loan-related VIEs as of the dates presented: December 31, (Dollars in thousands) 2023 2022 Number of VIEs 21 21 Aggregate carrying value $ 219,449 $ 233,351

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Schedule of Real Estate Investment Portfolio	The following table presents information about the number of investments in the Company's real estate investment portfolio as of each date presented: December 31, 2023 2022 Owned properties (1) 1,726 1,489 Properties securing investments in mortgage loans (2) 136 153 Ground lease interests 11 11 Total number of investments 1,873 1,653 _____________________________________ (1) Includes six and eight properties which are subject to leases accounted for as direct financing leases or loans as of December 31, 2023 and 2022, respectively. (2) Properties secure 20 mortgage loans receivable as of December 31, 2023 and 2022.
Schedule of Real Estate Investment Property, at Cost	The following table presents information about the gross investment value of the Company's real estate investment portfolio as of each date presented: December 31, (in thousands) 2023 2022 Real estate investments, at cost $ 4,683,937 $ 3,810,570 Loans and direct financing lease receivables, net 223,854 240,035 Real estate investments held for sale, net 7,455 4,780 Total gross investments $ 4,915,246 $ 4,055,385
Schedule of Information about Investment Activity	The following table presents information about the Company’s investment activity during the years ended December 31, 2023 and 2022: Year ended December 31, (Dollars in thousands) 2023 2022 Ownership type (1) (2) Number of properties 291 224 Purchase price allocation: Land and improvements $ 354,331 $ 270,049 Building and improvements 539,062 481,560 Construction in progress (3) 105,075 51,870 Intangible lease assets 2,553 3,366 Total purchase price 1,001,021 806,845 Intangible lease liabilities (181) — Purchase price (including acquisition costs) $ 1,000,840 $ 806,845 _____________________________________ (1) During the year ended December 31, 2023, the Company acquired fee interests in 289 properties and acquired two properties subject to ground leases. (2) During the year ended December 31, 2022, the Company acquired fee interests in 223 properties and acquired one property subject to a ground lease. (3)
Schedule of Gross Investment Activity	During the years ended December 31, 2023, 2022 and 2021, the Company had the following gross investment activity: (Dollar amounts in thousands) Number of Dollar Gross investments, December 31, 2020 1,181 $ 2,528,673 Acquisitions of and additions to real estate investments 297 853,798 Sales of investments in real estate (38) (57,154) Provisions for impairment of real estate (1) — (6,120) Investments in loans receivable 49 137,351 Principal collections on and settlements of loans and direct financing lease receivables (38) (100,488) Other — (499) Gross investments, December 31, 2021 1,451 3,355,561 Acquisitions of and additions to real estate investments 224 810,661 Sales of investments in real estate (54) (138,515) Provisions for impairment of real estate (2) — (20,164) Investments in loans receivable 75 143,954 Principal collections on and settlements of loans and direct financing lease receivables (43) (93,118) Other — (2,994) Gross investments, December 31, 2022 1,653 4,055,385 Acquisitions of and additions to real estate investments 291 1,004,075 Sales of investments in real estate (51) (120,809) Relinquishment of properties at end of ground lease term (2) (1,543) Provisions for impairment of real estate (3) — (3,548) Investments in loans receivable 2 13,091 Principal collections on and settlements of loans and direct financing lease receivables (20) (27,908) Other — (3,497) Gross investments, December 31, 2023 1,873 4,915,246 Less: Accumulated depreciation and amortization (4) — (367,133) Net investments, December 31, 2023 1,873 $ 4,548,113 _____________________________________________ (1) During the year ended December 31, 2021, the Company identified and recorded provisions for impairment at two vacant and 16 tenanted properties. (2) During the year ended December 31, 2022, the Company identified and recorded provisions for impairment at four vacant and nine tenanted properties. (3) During the year ended December 31, 2023, the Company identified and recorded provisions for impairment at two vacant and six tenanted properties. (4) Includes $321.9 million of accumulated depreciation as of December 31, 2023.
Schedule of Loans Receivable	The Company's loans receivable portfolio as of December 31, 2023 and 2022 is summarized below (dollars in thousands): Loan Type Monthly Payment (1) Number of Secured Properties Effective Interest Rate Stated Interest Rate Maturity Date Principal Balance Outstanding December 31, 2023 December 31, 2022 Mortgage (2)(3) I/O 2 8.80% 8.00% 2039 $ 12,000 $ 12,000 Mortgage (2) I/O 2 8.53% 7.75% 2039 7,300 7,300 Mortgage (2) I/O 69 7.79% 7.33% 2034 51,000 51,000 Mortgage (2) I/O 1 8.42% 7.65% 2040 5,300 5,300 Mortgage (2) I/O 2 8.54% 8.50% 2024 1,785 2,324 Mortgage (2) I/O 1 7.00% 7.00% 2024 500 600 Mortgage (2) I/O 2 8.30% 8.25% 2024 994 3,146 Mortgage (2) I/O 2 6.87% 6.40% 2036 2,520 2,520 Mortgage (2) I/O — 7.51% 7.00% 2036 — 2,673 Mortgage (2) I/O 2 8.29% 8.25% 2024 2,389 2,389 Mortgage (2) I/O 1 8.96% 8.06% 2051 24,100 24,100 Mortgage (2) I/O — 7.44% 7.10% 2036 — 9,808 Mortgage (2) I/O 7 7.30% 6.80% 2036 35,474 35,474 Mortgage (2) I/O 1 7.73% 7.20% 2036 2,470 2,470 Mortgage (2) I/O 1 8.00% 8.00% 2024 1,754 1,754 Mortgage (2) I/O 26 7.00% 7.00% 2027 17,494 26,307 Mortgage (2) I/O 1 7.73% 7.20% 2037 3,600 3,600 Mortgage (2) I/O 1 8.30% 8.25% 2024 760 760 Mortgage (2) I/O 4 8.64% 8.05% 2037 12,250 12,250 Mortgage (2) I/O 9 8.85% 8.25% 2037 25,993 28,938 Mortgage (2) I/O 1 8.83% 8.25% 2038 10,200 — Mortgage (2) I/O 1 8.10% 8.10% 2025 2,891 — Leasehold interest P+I 1 2.25% (4) 2034 929 992 Leasehold interest P+I 1 2.41% (4) 2034 1,382 1,473 Leasehold interest P+I — 4.97% (4) 2038 — 1,517 Net investment $ 223,085 $ 238,695 ________________________________________________ (1) I/O: Interest Only; P+I: Principal and Interest (2) Loan requires monthly payments of interest only with a balloon payment due at maturity. (3) Loan allows for prepayments in whole or in part without penalty. (4) These leasehold interests are accounted for as loans receivable, as the lease for each property contains an option for the lessee to repurchase the leased property in the future.
Scheduled Principal Payments Due under Loans Receivable	Scheduled principal payments due to be received under the Company's loans receivable as of December 31, 2023 were as follows: (in thousands) Loans Receivable 2024 $ 8,346 2025 3,063 2026 181 2027 17,684 2028 199 Thereafter 193,612 Total $ 223,085
Schedule of Direct Financing Lease Receivables	The components of the investments accounted for as direct financing lease receivables were as follows: December 31, (in thousands) 2023 2022 Minimum lease payments receivable $ 1,709 $ 2,812 Estimated unguaranteed residual value of leased assets 251 251 Unearned income from leased assets (525) (957) Net investment $ 1,435 $ 2,106
Scheduled Future Minimum Non-cancelable Base Rental Payments Under Direct Financing Lease Receivables	Scheduled future minimum non-cancelable base rental payments due to be received under the direct financing lease receivables as of December 31, 2023 were as follows: (in thousands) Future Minimum Base Rental Payments 2024 $ 210 2025 178 2026 167 2027 143 2028 145 Thereafter 866 Total $ 1,709
Schedule of Changes to Allowance for Loan Losses	For the years ended December 31, 2023, 2022 and 2021, the changes to the Company's allowance for credit losses were as follows: (in thousands) Loans and Direct Financing Lease Receivables Balance at December 31, 2020 $ 1,018 Current period provision for expected credit losses (1) (204) Write-offs charged — Recoveries — Balance at December 31, 2021 814 Current period provision for expected credit losses (2) 88 Write-offs charged (137) Recoveries — Balance at December 31, 2022 765 Current period provision for expected credit losses (2) (99) Write-offs charged — Recoveries — Balance at December 31, 2023 $ 666 _____________________________________ (1) The decrease in expected credit losses was due to assumptions regarding current macroeconomic factors returning to pre-pandemic values due to the reduction of the adverse impact of the COVID-19 pandemic. (2) The change in expected credit loss was primarily due to an overall increase or decrease in the size of our loans and direct financing lease receivables portfolio.
Schedule of Significant Credit Quality Indicators Measured at Amortized Cost	70% 13,091 71,611 29,953 8,466 20,679 143,800 $ 13,091 $ 94,611 $ 58,687 $ 8,466 $ 49,665 $ 224,520 " id="sjs-B13" xml:space="preserve">The Company considers the ratio of loan to value ("LTV") to be a significant credit quality indicator for its loans and direct financing lease portfolio. The following table presents information about the LTV of the Company's loans and direct financing lease receivables measured at amortized cost as of as of December 31, 2023: Amortized Cost Basis by Origination Year Total Amortized Cost Basis (in thousands) 2023 2022 2021 2020 Prior to 2020 LTV <60% $ — $ 23,000 $ — $ — $ 28,986 $ 51,986 LTV 60%-70% — — 28,734 — — 28,734 LTV >70% 13,091 71,611 29,953 8,466 20,679 143,800 $ 13,091 $ 94,611 $ 58,687 $ 8,466 $ 49,665 $ 224,520
Schedule of Activity in Real Estate Investments and Intangible Lease Liabilities Held for Sale	The following table shows the activity in real estate investments held for sale and intangible lease liabilities held for sale during the years ended December 31, 2023 and 2022: (Dollar amounts in thousands) Number of Real Estate Intangible Lease Net Carrying Held for sale balance, December 31, 2021 9 $ 15,434 $ — $ 15,434 Transfers to held for sale classification 11 28,393 — 28,393 Sales (16) (39,047) — (39,047) Transfers to held and used classification — — — — Held for sale balance, December 31, 2022 4 4,780 — 4,780 Transfers to held for sale classification 10 19,311 — 19,311 Sales (9) (16,067) — (16,067) Transfers to held and used classification (1) (569) — (569) Held for sale balance, December 31, 2023 4 $ 7,455 $ — $ 7,455
Schedule of External Customers by Geographic Areas	The following table lists the state where the rental revenue from the properties in that state during the periods presented represented 10% or more of total rental revenue in the Company's consolidated statements of operations: Year ended December 31, State 2023 2022 2021 Texas 13.3% 13.5% 13.1%
Schedule of Intangible Assets and Liabilities	Intangible assets and liabilities consisted of the following as of the dates presented: December 31, 2023 December 31, 2022 (in thousands) Gross Accumulated Net Gross Accumulated Net Intangible assets: In-place leases $ 78,080 $ 35,896 $ 42,184 $ 77,096 $ 30,217 $ 46,879 Intangible market lease assets 11,129 5,456 5,673 11,268 4,917 6,351 Total intangible assets $ 89,209 $ 41,352 $ 47,857 $ 88,364 $ 35,134 $ 53,230 Intangible market lease liabilities $ 15,505 $ 4,299 $ 11,206 $ 15,325 $ 3,774 $ 11,551
Schedule of Remaining Weighted Average Amortization Periods for Intangible Assets and Liabilities	The remaining weighted average amortization period for the Company's intangible assets and liabilities as of December 31, 2023, by category and in total, were as follows: Years Remaining In-place leases 8.5 Intangible market lease assets 10.4 Total intangible assets 8.7 Intangible market lease liabilities 8.7
Schedule of Amortization and Accretion Recognized	The following table discloses amounts recognized within the consolidated statements of operations related to amortization of in-place leases, amortization and accretion of above- and below-market lease assets and liabilities, net and the amortization and accretion of above- and below-market ground leases for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Amortization of in-place leases (1) $ 6,408 $ 7,575 $ 7,544 Amortization (accretion) of market lease intangibles, net (2) 11 (217) (47) Amortization (accretion) of above- and below-market ground lease intangibles, net (3) (286) (350) (353) ______________________________________________________ (1) Reflected within depreciation and amortization expense. (2) Reflected within rental revenue. (3) Reflected within property expenses.
Schedule of Projected Amortization Expenses for Next Five Years	The following table provides the estimated amortization of in-place lease assets to be recognized as a component of depreciation and amortization expense for the next five years and thereafter: (in thousands) In-Place Lease Assets 2024 $ 5,854 2025 4,564 2026 4,260 2027 3,731 2028 3,192 Thereafter 20,583 Total $ 42,184 The following table provides the estimated net amortization of above- and below-market lease intangibles to be recognized as a component of rental revenue for the next five years and thereafter: (in thousands) Above Market Lease Asset Below Market Lease Liabilities Net Adjustment to Rental Revenue 2024 $ (667) $ 699 $ 32 2025 (659) 701 42 2026 (649) 705 56 2027 (627) 729 102 2028 (385) 684 299 Thereafter (2,686) 7,688 5,002 Total $ (5,673) $ 11,206 $ 5,533

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Future Minimum Base Rental Payments due to be Received Under Remaining Non-Cancelable Term of Operating Leases	Scheduled future minimum base rental payments due to be received under the remaining non-cancelable term of the operating leases in place as of December 31, 2023 were as follows: (in thousands) Future Minimum Base 2024 $ 367,658 2025 372,511 2026 375,862 2027 377,320 2028 378,407 Thereafter 4,031,616 Total $ 5,903,374
Schedule of Components of Fixed and Variable Lease Revenues	The Company recorded the following amounts as contingent rent, which are included as a component of rental revenue in the Company's consolidated statements of operations, during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Contingent rent $ 743 $ 682 $ 721 The Company recorded the following adjustments as increases or decreases to rental revenue for tenant credit during the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Adjustment to (decrease) increase rental revenue for tenant credit $ (640) $ (371) $ 2,900 The fixed and variable components of lease revenues for the years ended December 31, 2023, 2022, and 2021 were as follows: Year ended December 31, (in thousands) 2023 2022 2021 Fixed lease revenues $ 338,720 $ 270,694 $ 210,441 Variable lease revenues (1) 3,610 1,632 1,708 Total lease revenues (2) $ 342,330 $ 272,326 $ 212,149 _____________________________________ (1) Includes contingent rent based on a percentage of the tenant’s gross sales and costs paid by the Company for which it is reimbursed by its tenants. (2) Excludes the amortization and accretion of above- and below-market lease intangible assets and liabilities and lease incentives and the adjustment to rental revenue for tenant credit.
Schedule of Information Related to Measurement of Lease Liabilities	The following table sets forth information related to the measurement of the Company's lease liabilities as of the dates presented: December 31, 2023 December 31, 2022 Weighted average remaining lease term (in years) 22.8 22.9 Weighted average discount rate 6.75% 6.09%
Schedule of Rent Expense	The following table sets forth the details of rent expense for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, (in thousands) 2023 2022 2021 Fixed rent expense - Ground Rent $ 970 $ 981 $ 957 Fixed rent expense - Office Rent 606 511 510 Variable rent expense — — — Total rent expense $ 1,576 $ 1,492 $ 1,467
Schedule of Future Lease Payments Due from Company Under Ground, Office and Equipment Operating Leases (ASC 842)	As of December 31, 2023, future lease payments due from the Company under the ground, office and equipment operating leases where the Company is directly responsible for payment and the future lease payments due under the ground operating leases where the Company's tenants are directly responsible for payment over the next five years and thereafter were as follows: (in thousands) Office and Equipment Leases Ground Leases Ground Leases Total Future 2024 $ 704 $ 28 $ 909 $ 1,641 2025 733 — 834 1,567 2026 217 — 840 1,057 2027 219 — 854 1,073 2028 224 — 738 962 Thereafter 57 — 18,002 18,059 Total $ 2,154 $ 28 $ 22,177 24,359 Present value discount (14,582) Lease liabilities $ 9,777

Long Term Debt (Tables)

Long Term Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Indebtedness	The following table summarizes the Company's outstanding indebtedness as of December 31, 2023 and 2022: Principal Outstanding Weighted Average Interest Rate (1) (in thousands) Maturity Date December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Unsecured term loans: 2024 Term Loan April 2024 $ — $ 200,000 —% 5.3% 2027 Term Loan February 2027 430,000 430,000 6.3% 5.3% 2028 Term Loan January 2028 400,000 400,000 6.3% 5.3% 2029 Term Loan February 2029 (2) 450,000 — 6.4% —% Senior unsecured notes July 2031 400,000 400,000 3.0% 3.0% Revolving Credit Facility February 2026 — — —% —% Total principal outstanding $ 1,680,000 $ 1,430,000 5.5% 4.6% ______________________________________________________ (1) Interest rates are presented as stated in debt agreements and do not reflect the impact of the Company's interest rate swap and lock agreements, where applicable (see Note 6—Derivative and Hedging Activities). (2) After giving effect to extension options exercisable at the Operating Partnership's election. The following table presents information about the Revolving Credit Facility for the periods presented: (in thousands) 2023 2022 2021 Balance on January 1, $ — $ 144,000 $ 18,000 Borrowings 70,000 299,000 393,000 Repayments (70,000) (443,000) (267,000) Balance on December 31, $ — $ — $ 144,000 The following table presents information about interest expense related to the Revolving Credit Facility for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Interest expense and fees $ 1,038 $ 2,807 $ 1,552 Amortization of deferred financing costs 1,203 1,217 1,165 Total $ 2,241 $ 4,024 $ 2,717 The following table presents information about aggregate interest expense related to the 2024 Term Loan, 2027 Term Loan, 2028 Term Loan and 2029 Term Loan: Year ended December 31, (in thousands) 2023 2022 2021 Interest expense $ 66,582 $ 23,967 $ 9,819 Amortization of deferred financing costs 1,617 836 736 Total $ 68,199 $ 24,803 $ 10,555 The following is a summary of the senior unsecured notes outstanding as of December 31, 2023 and 2022: (dollars in thousands) Maturity Date Interest Payment Dates Stated Interest Rate Principal Outstanding 2031 Notes July 15, 2031 January 15 and July 15 2.95 % $ 400,000 The following table presents information about interest expense related to the Company's senior unsecured notes for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Interest expense $ 11,713 $ 11,711 $ 5,952 Amortization of deferred financing costs and original issue discount 560 562 295 Total $ 12,273 $ 12,273 $ 6,247
Schedule of Scheduled Principal Payments	The following table summarizes the scheduled principal payments on the Company’s outstanding indebtedness as of December 31, 2023: (in thousands) 2027 Term Loan 2028 Term Loan 2029 Term Loan (1) Senior Unsecured Notes Revolving Credit Facility (2) Total 2024 $ — $ — $ — $ — $ — $ — 2025 — — — — — — 2026 — — — — — — 2027 430,000 — — — — 430,000 2028 — 400,000 — — — 400,000 Thereafter — — 450,000 400,000 — 850,000 Total $ 430,000 $ 400,000 $ 450,000 $ 400,000 $ — $ 1,680,000 ______________________ (1) After giving effect to extension options exercisable at the Operating Partnership's election. (2) Any amounts drawn will be due in February 2026.

Derivative and Hedging Activi_2

Derivative and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amount and Fair Value of Instruments	The following table summarizes the notional amount at inception and fair value of these instruments on the Company's balance sheets as of December 31, 2023 and 2022 (dollar amounts in thousands): Fair Value of Asset/(Liability) (2) Derivatives Fixed Rate Paid by Effective Date Maturity Date Notional Value (1) December 31, 2023 December 31, 2022 Interest Rate Swap (3) 1.96% 5/14/2019 4/12/2024 $ 100,000 $ 981 $ 3,545 Interest Rate Swap (3) 1.95% 5/14/2019 4/12/2024 50,000 492 1,781 Interest Rate Swap (3) 1.94% 5/14/2019 4/12/2024 50,000 492 1,777 Interest Rate Swap (3) 1.52% 12/9/2019 11/26/2026 175,000 10,654 14,685 Interest Rate Swap (3) 1.51% 12/9/2019 11/26/2026 50,000 3,077 4,248 Interest Rate Swap (3) 1.49% 12/9/2019 11/26/2026 25,000 1,542 2,120 Interest Rate Swap (3) 1.26% 7/9/2020 11/26/2026 100,000 6,810 9,324 Interest Rate Swap (3) 1.28% 7/9/2020 11/26/2026 80,000 5,406 7,418 Interest Rate Swap 3.19% 9/26/2022 1/25/2028 50,000 688 1,166 Interest Rate Swap 3.35% 9/26/2022 1/25/2028 50,000 383 804 Interest Rate Swap 3.36% 9/26/2022 1/25/2028 25,000 180 387 Interest Rate Swap 3.43% 9/26/2022 1/25/2028 50,000 226 612 Interest Rate Swap 3.71% 9/26/2022 1/25/2028 50,000 (290) (12) Interest Rate Swap 3.70% 9/26/2022 1/25/2028 25,000 (144) (15) Interest Rate Swap 4.00% 10/26/2022 1/25/2028 50,000 (851) (693) Interest Rate Swap 3.95% 11/28/2022 1/25/2028 25,000 (378) (293) Interest Rate Swap 4.03% 11/28/2022 1/25/2028 25,000 (459) (396) Interest Rate Swap 4.06% 11/28/2022 1/25/2028 25,000 (485) (427) Interest Rate Swap 4.07% 11/28/2022 1/25/2028 25,000 (492) (428) Interest Rate Swap 4.15% 8/24/2023 2/28/2029 50,000 (1,550) — Interest Rate Swap 4.38% 9/29/2023 2/28/2029 75,000 (3,193) — Interest Rate Swap 4.39% 9/29/2023 2/28/2029 50,000 (2,114) — Interest Rate Swap 4.32% 10/11/2023 2/28/2029 25,000 (981) — Interest Rate Swap 4.32% 10/11/2023 2/28/2029 25,000 (980) — Interest Rate Swap 4.51% 10/31/2023 2/28/2029 25,000 (1,207) — Interest Rate Swap (4) 4.48% 4/12/2024 2/28/2029 100,000 (4,919) — Interest Rate Swap (4) 4.48% 4/12/2024 2/28/2029 100,000 (4,913) — $ 1,480,000 $ 7,975 $ 45,603 _____________________________________ (1) Notional value indicates the extent of the Company’s involvement in these instruments, but does not represent exposure to credit, interest rate or market risks. (2) Derivatives in an asset position are included within derivative assets and derivatives in a liability position are included within derivative liabilities in the Company's consolidated balance sheets. (3) In June 2022, the Company converted the reference rate used in these interest rate swaps from 1-month LIBOR to 1-month Adjusted Term SOFR. (4) The Company entered into two forward swap contracts during the year ended December 31, 2023.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents amounts recorded to accumulated other comprehensive income related to derivative and hedging activities for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Other comprehensive (loss) income $ (36,874) $ 56,762 $ 22,508

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of At the Market Program	The following table presents information about the 2022 ATM Program and the Company's prior ATM Programs: Program Name Date Established Date Terminated Maximum Sales Authorization Gross Sales through December 31, 2023 2019 ATM Program August 2019 June 2020 $ 200,000 $ 184,400 2020 ATM Program June 2020 July 2021 $ 250,000 $ 166,800 2021 ATM Program July 2021 May 2022 $ 350,000 $ 348,140 2022 ATM Program (1) May 2022 $ 500,000 $ 220,643 _____________________________________ (1) Includes 1,937,450 shares that the Company sold on a forward basis and were not physically settled as of December 31, 2023. The following table details information related to activity under the ATM Program for each period presented: Year ended December 31, (in thousands, except share and per share data) 2023 2022 2021 Shares of common stock sold (1)(2) 5,931,654 9,794,137 10,005,890 Weighted average sale price per share $ 24.48 $ 24.00 $ 27.58 Gross proceeds $ 145,224 $ 235,060 $ 275,972 Net proceeds $ 142,922 $ 232,478 $ 271,949 _____________________________________ (1) Includes 1,937,450 shares that the Company sold on a forward basis and were not physically settled as of December 31, 2023. (2)
Schedule of Quarterly Cash Dividends	During the years ended December 31, 2023, 2022 and 2021, the Company's board of directors declared the following quarterly cash dividends on common stock: Date Declared Record Date Date Paid Dividend per Share of Total Dividend (dollars in thousands) December 1, 2023 December 29, 2023 January 12, 2024 $ 0.285 $ 47,024 September 7, 2023 September 29, 2023 October 13, 2023 $ 0.28 $ 43,788 June 9, 2023 June 30, 2023 July 14, 2023 $ 0.28 $ 43,551 March 7, 2023 March 31, 2023 April 14, 2023 $ 0.275 $ 41,031 November 30, 2022 December 30, 2022 January 13, 2023 $ 0.275 $ 39,246 September 2, 2022 September 30, 2022 October 14, 2022 $ 0.27 $ 38,533 June 2, 2022 June 30, 2022 July 14, 2022 $ 0.27 $ 35,916 March 14, 2022 March 31, 2022 April 13, 2022 $ 0.26 $ 34,188 December 3, 2021 December 31, 2021 January 13, 2022 $ 0.26 $ 32,466 September 2, 2021 September 30, 2021 October 14, 2021 $ 0.25 $ 30,397 May 27, 2021 June 30, 2021 July 15, 2021 $ 0.25 $ 29,559 March 5, 2021 March 31, 2021 April 15, 2021 $ 0.24 $ 26,265

Equity Based Compensation (Tabl

Equity Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Information about RSAs and RSUs Units	The following table presents information about the Company's RSAs and RSUs during the years ended December 31, 2023, 2022 and 2021: Restricted Stock Awards Restricted Stock Units Shares Wtd. Avg. Grant Date Fair Value Units Wtd. Avg. Grant Date Fair Value Unvested, January 1, 2021 240,598 $ 13.73 321,602 $ 25.27 Granted — — 213,686 31.78 Vested (221,694) 13.70 (72,879) 18.83 Forfeited — — (7,717) 23.52 Unvested, December 31, 2021 18,904 $ 14.12 454,692 $ 29.39 Unvested, January 1, 2022 18,904 $ 14.12 454,692 $ 29.39 Granted — — 607,347 29.08 Vested (9,865) 14.12 (243,640) 25.70 Forfeited — — (1,019) 27.25 Unvested, December 31, 2022 9,039 $ 14.12 817,380 $ 30.26 Unvested, January 1, 2023 9,039 $ 14.12 817,380 $ 30.26 Granted — — 457,859 31.39 Vested (9,039) 14.12 (436,967) 26.98 Forfeited — — (94,419) 32.79 Unvested, December 31, 2023 — $ 14.12 743,853 $ 32.56 The following table presents information about the Company's RSAs for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Compensation cost recognized in general and administrative expense $ 2 $ 128 $ 1,548 Dividends declared on unvested RSAs and charged directly to distributions in excess of cumulative earnings — 8 70 Fair value of shares vested during the period 128 139 3,037 The following table presents information about the Company's RSUs for the periods presented: Year ended December 31, (in thousands) 2023 2022 2021 Compensation cost recognized in general and administrative expense $ 9,002 $ 9,361 $ 4,135 Dividend equivalents declared and charged directly to distributions in excess of cumulative earnings 407 366 241 Fair value of units vested during the period 11,791 6,262 1,372
Schedule of Unrecognized Compensation Cost	The following table presents information about the Company's RSAs as of the dates presented: December 31, (Dollars in thousands) 2023 2022 2021 Total unrecognized compensation cost $ — $ 2 $ 130 Weighted average period over which compensation cost will be recognized (in years) — 0.1 1.0 The following table presents information about the Company's RSUs as of the dates presented: December 31, (Dollars in thousands) 2023 2022 Total unrecognized compensation cost $ 13,131 $ 13,761 Weighted average period over which compensation cost will be recognized (in years) 2.2 2.8
Schedule of Assumptions Used in Measurement of Grant Date Fair Value of Total Shareholder Return RSUs Using Monte Carlo Simulation Model	The grant date fair value of the TSR RSUs was measured using a Monte Carlo simulation model based on the following assumptions: Grant Year 2023 2022 2021 Volatility 37% 54% 55% Risk free rate 4.36% 1.68% 0.20%

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation of the numerator and denominator used in the computation of basic and diluted net income per share (dollars in thousands): Year ended December 31, (dollar amounts in thousands) 2023 2022 2021 Numerator for basic and diluted earnings per share: Net income $ 191,415 $ 134,742 $ 96,211 Less: net income attributable to non-controlling interests (708) (612) (486) Less: net income allocated to unvested RSAs and RSUs (407) (374) (311) Net income available for common stockholders: basic 190,300 133,756 95,414 Net income attributable to non-controlling interests 708 612 486 Net income available for common stockholders: diluted $ 191,008 $ 134,368 $ 95,900 Denominator for basic and diluted earnings per share: Weighted average common shares outstanding 152,140,896 134,950,418 116,479,322 Less: weighted average number of shares of unvested RSAs (161) (9,230) (121,263) Weighted average shares outstanding used in basic net income per share 152,140,735 134,941,188 116,358,059 Effects of dilutive securities: (1) OP Units 553,847 553,847 553,847 Unvested RSAs and RSUs 421,292 356,044 554,432 Forward sales 405,980 4,837 — Weighted average shares outstanding used in diluted net income per share 153,521,854 135,855,916 117,466,338 _____________________________________ (1) Excludes the impact of 179,807 and 171,059 unvested RSUs and unsettled forward equity sales for the years ended December 31, 2023 and 2022, respectively, as the effect would have been antidilutive.

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Matching Contributions for Defined Contribution Retirement Savings Plan	The following table presents the matching contributions made by the Company for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, (in thousands) 2023 2022 2021 401(k) matching contributions $ 331 $ 318 $ 205

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Financial Assets Measured at Recurring Basis	The fair values of these financial assets and liabilities were determined using the following input levels as of the dates presented: Net Carrying Value Fair Value Measurements Using Fair (in thousands) Fair Value Level 1 Level 2 Level 3 December 31, 2023 Financial assets: Senior unsecured notes (1) $ 395,846 $ 315,336 $ 315,336 $ — $ — Interest rate swaps 7,975 7,975 — 7,975 — December 31, 2022 Financial assets: Senior unsecured notes (1) $ 395,286 $ 292,120 $ 292,120 $ — $ — Interest rate swaps 45,603 45,603 — 45,603 — _____________________________________ (1) Carrying value is net of $3.6 million and $4.0 million of net deferred financing costs and $0.6 million and $0.7 million of net discount as of December 31, 2023 and 2022, respectively.
Schedule of Fair Values of Real Estate Investments Measured at Nonrecurring Basis	The fair values of real estate investments that were impaired as of the dates presented were determined using the following input levels: Net Carrying Value Fair Value Measurements Using Fair (in thousands) Fair Value Level 1 Level 2 Level 3 December 31, 2023 Non-financial assets: Long-lived assets $ 4,510 $ 4,510 $ — $ — $ 4,510 December 31, 2022 Non-financial assets: Long-lived assets $ 12,144 $ 12,144 $ — $ — $ 12,144
Schedule of Quantitative Information about Level 3 Fair Value Measurements	Quantitative information about Level 3 fair value measurements as of December 31, 2023 is as follows: (dollar amounts in thousands) Fair Value Valuation Techniques Significant Unobservable Non-financial assets: Long-lived assets Convenience store $ 1,500 Sales comparison approach Non-binding sales agreement $ 1,500 Pet care services 2,139 Sales comparison approach Binding sales agreement 2,139 Quick service restaurant 871 Discounted cash flow approach Terminal value: 8.0% Discount rate: 8.5% 871

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)		12 Months Ended
		Dec. 31, 2023 USD ($) segment option	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments | segment		1
Cash and cash equivalents		$ 39,807,000	$ 62,345,000	$ 59,758,000
Cash and cash equivalents in excess of amount insured by FDIC		39,600,000	62,100,000
Capitalized offering costs		91,300,000	90,300,000
Unrecognized tax positions		0	0
Unrecognized tax positions, interest and penalties		0	0
Liabilities	[1]	$ 1,781,259,000	$ 1,503,262,000
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]		Rental revenue	Rental revenue	Rental revenue
Variable Interest Entity Not Primary Beneficiary | Mortgage Receivable
Summary Of Significant Accounting Policies [Line Items]
Liabilities		$ 0	$ 0
Buildings
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		40 years
Site improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		15 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Lease-up period		6 months
Number of multi-year renewal options | option		1
Maximum
Summary Of Significant Accounting Policies [Line Items]
Lease-up period		12 months
Operating Partnership Unit
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interests in operating partnership (as a percent)		99.70%	99.60%
[1] The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs"). See Note 2 — Summary of Significant Accounting Policies. As of December 31, 2023 and 2022, all of the assets and liabilities of the Company were held by its operating partnership, a consolidated VIE, with the exception of $47.0 million and $39.2 million, respectively, of dividends payable.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Depreciation on Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Depreciation on real estate investments	$ 95,527	$ 80,647	$ 61,171

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Provisions for Impairment of Long Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Provision for impairment of real estate	$ 3,548	$ 20,164	$ 6,120

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Contingent Rent (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Contingent rent	$ 743	$ 682	$ 721

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Adjustment to Rental Revenue for Tenant Credit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Adjustment to (decrease) increase rental revenue for tenant credit	$ (640)	$ (371)	$ 2,900

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Mortgage Loan-Related VIEs (Details) $ in Thousands	Dec. 31, 2023 USD ($) entity	Dec. 31, 2022 USD ($) entity
Variable Interest Entity [Line Items]
Aggregate carrying value	$ 223,854	$ 240,035
Mortgage Receivable | Variable Interest Entity Not Primary Beneficiary
Variable Interest Entity [Line Items]
Number of VIEs | entity	21	21
Aggregate carrying value	$ 219,449	$ 233,351

Investments - Schedule of Real

Investments - Schedule of Real Estate Investment Portfolio (Details) - property	Dec. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Owned properties	1,726	1,489
Properties securing investments in mortgage loans	136	153
Ground lease interests	11	11
Total number of investments	1,873	1,653

Investments - Schedule of Rea_2

Investments - Schedule of Real Estate Investment Portfolio, Footnotes (Details)	Dec. 31, 2023 loan property	Dec. 31, 2022 loan property
Investments [Abstract]
Number of properties owned as direct financing receivables | property	6	8
Number of mortgage loans receivable | loan	20	20

Investments - Schedule of Gross

Investments - Schedule of Gross Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments [Abstract]
Real estate investments, at cost	$ 4,683,937	$ 3,810,570
Loans and direct financing lease receivables, net	223,854	240,035
Real estate investments held for sale, net	7,455	4,780	$ 15,434
Total gross investments	$ 4,915,246	$ 4,055,385	$ 3,355,561	$ 2,528,673

Investments - Schedule of Infor

Investments - Schedule of Information about Investment Activity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Investments [Abstract]
Number of properties | property	291	224
Purchase price allocation:
Land and improvements	$ 354,331	$ 270,049
Building and improvements	539,062	481,560
Construction in progress	105,075	51,870
Intangible lease assets	2,553	3,366
Total purchase price	1,001,021	806,845
Intangible lease liabilities	(181)	0
Purchase price (including acquisition costs)	$ 1,000,840	$ 806,845

Investments - Schedule of Inf_2

Investments - Schedule of Information about Investment Activity, Footnotes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Investments [Abstract]
Number of properties acquired, fee interest	289	223
Number of properties acquired, subject to ground lease	2	1
Capitalized interest expense | $	$ 2.4	$ 0.8

Investments - Additional Inform

Investments - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) investment loan option	Dec. 31, 2022 USD ($) loan investment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Schedule of Investments [Line Items]
Number of acquisitions individually represented more than five percentage of total investment activity | investment	0	0
Number of loan receivable agreements secured | loan	20	23
Number of loan receivable agreements secured by lease | loan	2	3
Aggregate carrying value of loans	$ 223,100	$ 238,700
Credit risk, maximum exposure	223,100
Net investments accounted for as direct financing lease receivables	1,435	2,106
Allowance for loan losses	$ 666	$ 765	$ 814	$ 1,018
Minimum
Schedule of Investments [Line Items]
Number of renewal options | option	1

Investments - Summary of Gross

Investments - Summary of Gross Investment Activity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) investmentLocation	Dec. 31, 2022 USD ($) investmentLocation	Dec. 31, 2021 USD ($) investmentLocation
Number of Investment Locations
Beginning balance | investmentLocation	1,653	1,451	1,181
Acquisitions of and additions to real estate investments | investmentLocation	291	224	297
Sales of investments in real estate | investmentLocation	(51)	(54)	(38)
Relinquishment of properties at end of ground lease term | investmentLocation	(2)
Investments in loans receivable | investmentLocation	2	75	49
Principal collections on and settlements of loans and direct financing lease receivables | investmentLocation	(20)	(43)	(38)
Ending balance | investmentLocation	1,873	1,653	1,451
Dollar Amount of Investments
Beginning balance	$ 4,055,385	$ 3,355,561	$ 2,528,673
Acquisitions of and additions to real estate investments	1,004,075	810,661	853,798
Sales of investments in real estate	(120,809)	(138,515)	(57,154)
Relinquishment of properties at end of ground lease term	(1,543)
Provisions for impairment of real estate	(3,548)	(20,164)	(6,120)
Investments in loans receivable	13,091	143,954	137,351
Principal collections on and settlements of loans and direct financing lease receivables	(27,908)	(93,118)	(100,488)
Other	(3,497)	(2,994)	(499)
Ending balance	4,915,246	4,055,385	$ 3,355,561
Less: accumulated depreciation and amortization	(367,133)	(276,307)
Net investments	$ 4,548,113	$ 3,779,078

Investments - Summary of Gros_2

Investments - Summary of Gross Investment Activity, Footnotes (Details) $ in Millions	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 property	Dec. 31, 2021 property
Real Estate Properties [Line Items]
Number of property locations of investments	1,873	1,653
Accumulated depreciation | $	$ 321.9
Vacant Properties
Real Estate Properties [Line Items]
Number of property locations of investments	2	4	2
Tenanted Properties
Real Estate Properties [Line Items]
Number of property locations of investments	6	9	16

Investments - Schedule of Loans

Investments - Schedule of Loans Receivable (Details) $ in Thousands	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal balance outstanding	$ 223,085	$ 238,695
Mortgage Receivables 8.00% Due 2039
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	2
Effective Interest Rate	8.80%
Stated Interest Rate	8%
Principal balance outstanding	$ 12,000	12,000
Mortgage Receivables 7.75% Due 2039
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	2
Effective Interest Rate	8.53%
Stated Interest Rate	7.75%
Principal balance outstanding	$ 7,300	7,300
Mortgage Receivables 7.33% Due 2034
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	69
Effective Interest Rate	7.79%
Stated Interest Rate	7.33%
Principal balance outstanding	$ 51,000	51,000
Mortgage Receivables 7.65% Due 2040
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	8.42%
Stated Interest Rate	7.65%
Principal balance outstanding	$ 5,300	5,300
Mortgage Receivables 8.50% Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	2
Effective Interest Rate	8.54%
Stated Interest Rate	8.50%
Principal balance outstanding	$ 1,785	2,324
Mortgage Receivables 7.00% Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	7%
Stated Interest Rate	7%
Principal balance outstanding	$ 500	600
Mortgage Receivables 8.25% Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	2
Effective Interest Rate	8.30%
Stated Interest Rate	8.25%
Principal balance outstanding	$ 994	3,146
Mortgage Receivables 6.40% Due 2036
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	2
Effective Interest Rate	6.87%
Stated Interest Rate	6.40%
Principal balance outstanding	$ 2,520	2,520
Mortgage Receivables 7.00% Due 2036
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	0
Effective Interest Rate	7.51%
Stated Interest Rate	7%
Principal balance outstanding	$ 0	2,673
Mortgage Receivables 8.25% Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	2
Effective Interest Rate	8.29%
Stated Interest Rate	8.25%
Principal balance outstanding	$ 2,389	2,389
Mortgage Receivables 8.06% Due 2051
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	8.96%
Stated Interest Rate	8.06%
Principal balance outstanding	$ 24,100	24,100
Mortgage Receivables 7.10% Due 2036
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	0
Effective Interest Rate	7.44%
Stated Interest Rate	7.10%
Principal balance outstanding	$ 0	9,808
Mortgage Receivables 6.80% Due 2036
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	7
Effective Interest Rate	7.30%
Stated Interest Rate	6.80%
Principal balance outstanding	$ 35,474	35,474
Mortgage Receivables 7.20% Due 2036
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	7.73%
Stated Interest Rate	7.20%
Principal balance outstanding	$ 2,470	2,470
Mortgage Receivables 8.00% Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	8%
Stated Interest Rate	8%
Principal balance outstanding	$ 1,754	1,754
Mortgage Receivables 7.00% Due 2027
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	26
Effective Interest Rate	7%
Stated Interest Rate	7%
Principal balance outstanding	$ 17,494	26,307
Mortgage Receivables 7.20% Due 2037
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	7.73%
Stated Interest Rate	7.20%
Principal balance outstanding	$ 3,600	3,600
Mortgage Receivables 8.25% Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	8.30%
Stated Interest Rate	8.25%
Principal balance outstanding	$ 760	760
Mortgage Receivables 8.05% Due 2037
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	4
Effective Interest Rate	8.64%
Stated Interest Rate	8.05%
Principal balance outstanding	$ 12,250	12,250
Mortgage Receivables 8.25% Due 2037
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	9
Effective Interest Rate	8.85%
Stated Interest Rate	8.25%
Principal balance outstanding	$ 25,993	28,938
Mortgage Receivables 8.25% Due 2038
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	8.83%
Stated Interest Rate	8.25%
Principal balance outstanding	$ 10,200	0
Mortgage Receivables 8.10% Due 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	8.10%
Stated Interest Rate	8.10%
Principal balance outstanding	$ 2,891	0
Leasehold Interest 2.25% Due 2034
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	2.25%
Principal balance outstanding	$ 929	992
Leasehold Interest 2.41% Due 2034
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	1
Effective Interest Rate	2.41%
Principal balance outstanding	$ 1,382	1,473
Leasehold Interest 4.97% Due 2038
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Secured Properties | property	0
Effective Interest Rate	4.97%
Principal balance outstanding	$ 0	$ 1,517

Investments - Scheduled of Prin

Investments - Scheduled of Principal Payments Due under Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments [Abstract]
2024	$ 8,346
2025	3,063
2026	181
2027	17,684
2028	199
Thereafter	193,612
Total	$ 223,085	$ 238,695

Investments - Schedule of Direc

Investments - Schedule of Direct Financing Lease Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Minimum lease payments receivable	$ 1,709	$ 2,812
Estimated unguaranteed residual value of leased assets	251	251
Unearned income from leased assets	(525)	(957)
Net investment	$ 1,435	$ 2,106

Investments - Scheduled Future

Investments - Scheduled Future Minimum Non-Cancelable Base Rental Payments Under Direct Financing Lease Receivables (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Investments [Abstract]
2024	$ 210
2025	178
2026	167
2027	143
2028	145
Thereafter	866
Total	$ 1,709

Investments - Summary of Change

Investments - Summary of Changes to Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 765	$ 814	$ 1,018
Current period provision for expected credit losses	(99)	88	(204)
Write-offs charged	0	(137)	0
Recoveries	0	0	0
Balance at end of period	$ 666	$ 765	$ 814

Investments - Summary of Signif

Investments - Summary of Significant Credit Quality Indicators Measured at Amortized Cost (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 13,091
2022	94,611
2021	58,687
2020	8,466
Prior to 2020	49,665
Total Amortized Cost Basis	224,520
LTV less than 60%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	23,000
2021	0
2020	0
Prior to 2020	28,986
Total Amortized Cost Basis	51,986
LTV 60%-70%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	28,734
2020	0
Prior to 2020	0
Total Amortized Cost Basis	28,734
LTV greater than 70%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	13,091
2022	71,611
2021	29,953
2020	8,466
Prior to 2020	20,679
Total Amortized Cost Basis	$ 143,800

Investments - Activity in Real

Investments - Activity in Real Estate Investments and Intangible Lease Liabilities Held for Sale (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Number of Properties
Beginning balance | property	4	9
Transfers to held for sale classification | property	10	11
Sales | property	(9)	(16)
Transfers to held and used classification | property	(1)	0
Ending balance | property	4	4
Real Estate Investments
Beginning balance	$ 4,780	$ 15,434
Transfers to held for sale classification	19,311	28,393
Sales	(16,067)	(39,047)
Transfers to held and used classification	(569)	0
Ending balance	7,455	4,780
Intangible Lease Liabilities
Beginning balance	0	0
Transfers to held for sale classification	0	0
Sales	0	0
Transfers to held and used classification	0	0
Ending balance	0	0
Net Carrying Value
Beginning balance	4,780	15,434
Transfers to held for sale classification	19,311	28,393
Sales	(16,067)	(39,047)
Transfers to held and used classification	(569)	0
Ending balance	$ 7,455	$ 4,780

Investments - Schedule of Exter

Investments - Schedule of External Customers by Geographic Areas (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Rental Revenue | Texas | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage (as a percent)	13.30%	13.50%	13.10%

Investments - Schedule of Intan

Investments - Schedule of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross carrying amount	$ 89,209	$ 88,364
Intangible assets, accumulated amortization	41,352	35,134
Intangible assets, net carrying amount	47,857	53,230
Intangible market lease liabilities, gross carrying amount	15,505	15,325
Intangible market lease liabilities, accumulated amortization	4,299	3,774
Intangible market lease liabilities, net carrying amount	11,206	11,551
In-place leases
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross carrying amount	78,080	77,096
Intangible assets, accumulated amortization	35,896	30,217
Intangible assets, net carrying amount	42,184	46,879
Intangible market lease assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross carrying amount	11,129	11,268
Intangible assets, accumulated amortization	5,456	4,917
Intangible assets, net carrying amount	$ 5,673	$ 6,351

Investments - Summary of Remain

Investments - Summary of Remaining Weighted Average Amortization Periods for Intangible Assets and Liabilities (Details)	12 Months Ended
	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Years remaining, intangible assets	8 years 8 months 12 days
Years remaining, intangible market lease liabilities	8 years 8 months 12 days
In-place leases
Finite-Lived Intangible Assets [Line Items]
Years remaining, in-place leases	8 years 6 months
Intangible market lease assets
Finite-Lived Intangible Assets [Line Items]
Years remaining, intangible assets	10 years 4 months 24 days

Investments - Summary of Amorti

Investments - Summary of Amortization and Accretion Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amortization of In-Place Leases, Amortization and Accretion of Above- and Below-Market Lease Assets and Liabilities [Line Items]
Amortization of in-place leases	$ 6,408	$ 7,575	$ 7,544
Market Lease Intangibles | Rental Revenue
Amortization of In-Place Leases, Amortization and Accretion of Above- and Below-Market Lease Assets and Liabilities [Line Items]
Amortization (accretion) of market lease intangibles, net	11	(217)	(47)
Above and Below Market Ground Lease Intangibles | Property Expenses
Amortization of In-Place Leases, Amortization and Accretion of Above- and Below-Market Lease Assets and Liabilities [Line Items]
Amortization (accretion) of above- and below-market ground lease intangibles, net	$ (286)	$ (350)	$ (353)

Investments - Summary of Projec

Investments - Summary of Projected Amortization Expenses for Next Five Years (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Below Market Lease Liabilities
2024	$ 699
2025	701
2026	705
2027	729
2028	684
Thereafter	7,688
Total	11,206
Net Adjustment to Rental Revenue
2024	32
2025	42
2026	56
2027	102
2028	299
Thereafter	5,002
Total	5,533
In-place leases
Intangible Assets
2024	5,854
2025	4,564
2026	4,260
2027	3,731
2028	3,192
Thereafter	20,583
Total	42,184
Above Market Lease Asset
Intangible Assets
2024	667
2025	659
2026	649
2027	627
2028	385
Thereafter	2,686
Total	$ 5,673

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	Dec. 31, 2023 USD ($) option	Dec. 31, 2022 USD ($)
Lessor, Lease, Description [Line Items]
ROU assets	$ 8,900	$ 7,300
Lease liabilities	$ 9,777	$ 9,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Rent receivables, prepaid expenses and other assets, net	Rent receivables, prepaid expenses and other assets, net
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities and other payables	Accrued liabilities and other payables
Minimum
Lessor, Lease, Description [Line Items]
Number of renewal options | option	1

Leases - Scheduled Future Minim

Leases - Scheduled Future Minimum Base Rental Payments due to be Received Under Remaining Non-Cancelable Term of Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 367,658
2025	372,511
2026	375,862
2027	377,320
2028	378,407
Thereafter	4,031,616
Total	$ 5,903,374

Leases - Components of Fixed an

Leases - Components of Fixed and Variable Lease Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Fixed lease revenues	$ 338,720	$ 270,694	$ 210,441
Variable lease revenues	3,610	1,632	1,708
Total lease revenues	$ 342,330	$ 272,326	$ 212,149
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Rental revenue	Rental revenue	Rental revenue

Leases - Information Related to

Leases - Information Related to Measurement of Lease Liabilities (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term (in years)	22 years 9 months 18 days	22 years 10 months 24 days
Weighted average discount rate	6.75%	6.09%

Leases - Details of Rent Expens

Leases - Details of Rent Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Variable rent expense	$ 0	$ 0	$ 0
Total rent expense	1,576	1,492	1,467
Ground Rent
Lessee, Lease, Description [Line Items]
Fixed rent expense	970	981	957
Office Rent
Lessee, Lease, Description [Line Items]
Fixed rent expense	$ 606	$ 511	$ 510

Leases - Summary of Future Leas

Leases - Summary of Future Lease Payments due from Company Under Ground, Office and Equipment Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
2024	$ 1,641
2025	1,567
2026	1,057
2027	1,073
2028	962
Thereafter	18,059
Total	24,359
Present value discount	(14,582)
Lease liabilities	9,777	$ 9,000
Office and Equipment Leases
Lessee, Lease, Description [Line Items]
2024	704
2025	733
2026	217
2027	219
2028	224
Thereafter	57
Total	2,154
Ground Leases to be Paid by the Company
Lessee, Lease, Description [Line Items]
2024	28
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total	28
Ground Leases to be Paid Directly by the Company’s Tenants
Lessee, Lease, Description [Line Items]
2024	909
2025	834
2026	840
2027	854
2028	738
Thereafter	18,002
Total	$ 22,177

Long Term Debt - Schedule of Lo

Long Term Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal Outstanding	$ 1,680,000	$ 1,430,000
Weighted-average interest rate (as a percent)	5.50%	4.60%
July 2031 Senior Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 400,000	$ 400,000
Weighted-average interest rate (as a percent)	3%	3%
Unsecured term loans | 2024 Term Loan | Line of Credit
Debt Instrument [Line Items]
Principal Outstanding	$ 0	$ 200,000
Weighted-average interest rate (as a percent)	0%	5.30%
Unsecured term loans | 2027 Term Loan | Line of Credit
Debt Instrument [Line Items]
Principal Outstanding	$ 430,000	$ 430,000
Weighted-average interest rate (as a percent)	6.30%	5.30%
Unsecured term loans | 2028 Term Loan | Line of Credit
Debt Instrument [Line Items]
Principal Outstanding	$ 400,000	$ 400,000
Weighted-average interest rate (as a percent)	6.30%	5.30%
Unsecured term loans | 2029 Term Loan | Line of Credit
Debt Instrument [Line Items]
Principal Outstanding	$ 450,000	$ 0
Weighted-average interest rate (as a percent)	6.40%	0%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Principal Outstanding	$ 0	$ 0
Weighted-average interest rate (as a percent)	0%	0%

Long Term Debt - Summary of Sch

Long Term Debt - Summary of Scheduled Principal Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
2024	$ 0
2025	0
2026	0
2027	430,000
2028	400,000
Thereafter	850,000
Total	1,680,000
Senior Unsecured Notes
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	0
2028	0
Thereafter	400,000
Total	400,000
Unsecured term loans | 2027 Term Loan | Line of Credit
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	430,000
2028	0
Thereafter	0
Total	430,000
Unsecured term loans | 2028 Term Loan | Line of Credit
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	0
2028	400,000
Thereafter	0
Total	400,000
Unsecured term loans | 2029 Term Loan | Line of Credit
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	0
2028	0
Thereafter	450,000
Total	450,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
2024	0
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total	$ 0

Long Term Debt - Revolving Cred

Long Term Debt - Revolving Credit Facility, 2024 Term Loan, 2028 Term Loan And 2029 Term Loan - Additional Information (Details)		1 Months Ended						12 Months Ended
	Apr. 12, 2019	Oct. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Aug. 31, 2023 USD ($) option	Oct. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)	Feb. 28, 2022 USD ($) option	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Apr. 30, 2019 USD ($)
Line of Credit Facility [Line Items]
Loss on debt extinguishment								$ 116,000	$ 2,138,000	$ 4,461,000
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Total deferred finance costs, net								2,500,000	3,700,000
Line of credit facility, unused borrowing capacity								600,000,000	600,000,000
Revolving Credit Facility | Line of Credit | 2018 Credit Facility
Line of Credit Facility [Line Items]
Aggregate revolving credit commitments											$ 300,000,000
Revolving Credit Facility | Line of Credit | Amended Credit Agreement
Line of Credit Facility [Line Items]
Aggregate revolving credit commitments											400,000,000
Credit facility term	4 years
Extension term	6 months
Revolving Credit Facility | Line of Credit | Credit Agreement
Line of Credit Facility [Line Items]
Aggregate revolving credit commitments							$ 600,000,000
Accordion feature to revolving credit commitment							$ 600,000,000
Loss on debt extinguishment									$ 100,000
Extension term							6 months
Number of extension options | option							2
Unsecured term loans | Line of Credit | 2024 Term Loan
Line of Credit Facility [Line Items]
Maximum additional availability of the facility											$ 200,000,000
Loss on debt extinguishment								$ 100,000
Unsecured term loans | Line of Credit | 2028 Term Loan
Line of Credit Facility [Line Items]
Aggregate revolving credit commitments						$ 600,000,000
Proceeds from debt					$ 150,000,000	$ 250,000,000
Consolidated leverage ratio, maximum						0.35
Unsecured term loans | Line of Credit | 2028 Term Loan, Second Tranche
Line of Credit Facility [Line Items]
Aggregate revolving credit commitments						$ 400,000,000
Unsecured term loans | Line of Credit | 2029 Term Loan
Line of Credit Facility [Line Items]
Aggregate revolving credit commitments				$ 450,000,000
Number of extension options | option				2
Proceeds from debt		$ 75,000,000	$ 125,000,000	$ 250,000,000
Unsecured term loans | Line of Credit | 2029 Term Loan | Line Of Credit, Extension Option One
Line of Credit Facility [Line Items]
Extension term				1 year
Unsecured term loans | Line of Credit | 2029 Term Loan | Line Of Credit, Extension Option Two
Line of Credit Facility [Line Items]
Extension term				6 months

Long Term Debt - Summary of Inf

Long Term Debt - Summary of Information about Revolving Credit Facility (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility, Roll Forward [Roll Forward]
Beginning balance	$ 0
Borrowings	70,000	$ 299,000	$ 393,000
Repayments	(70,000)	(443,000)	(267,000)
Ending balance	0	0
Revolving Credit Facility | Line of Credit
Line of Credit Facility, Roll Forward [Roll Forward]
Beginning balance	0	144,000	18,000
Borrowings	70,000	299,000	393,000
Repayments	(70,000)	(443,000)	(267,000)
Ending balance	$ 0	$ 0	$ 144,000

Long Term Debt - Information Ab

Long Term Debt - Information About Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Senior Unsecured Notes | July 2031 Senior Notes
Line of Credit Facility [Line Items]
Interest expense and fees	$ 11,713	$ 11,711	$ 5,952
Amortization of deferred financing costs and original issue discount	560	562	295
Total	12,273	12,273	6,247
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Interest expense and fees	1,038	2,807	1,552
Amortization of deferred financing costs	1,203	1,217	1,165
Total	2,241	4,024	2,717
Unsecured term loans | Line of Credit | 2024 Term Loan, 2027 Term Loan, 2028 Term Loan and 2029 Term Loan
Line of Credit Facility [Line Items]
Interest expense and fees	66,582	23,967	9,819
Amortization of deferred financing costs	1,617	836	736
Total	$ 68,199	$ 24,803	$ 10,555

Long Term Debt - 2027 Term Loan

Long Term Debt - 2027 Term Loan - Additional Information (Details) - USD ($)	4 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 26, 2019
Line of Credit Facility [Line Items]
Loss on debt extinguishment		$ 116,000	$ 2,138,000	$ 4,461,000
Unsecured term loans | Line of Credit | 2027 Term Loan
Line of Credit Facility [Line Items]
Notes issued					$ 430,000,000
Aggregate revolving credit commitments					430,000,000
Proceeds from debt	$ 430,000,000
Loss on debt extinguishment			2,100,000
Maximum additional availability of the facility					$ 500,000,000
Total deferred finance costs, net		$ 7,200,000	$ 4,500,000

Long Term Debt - Senior Unsecur

Long Term Debt - Senior Unsecured Note - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Proceeds from issuance of senior unsecured notes		$ 0	$ 0	$ 396,600,000
2031 Senior Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Notes issued	$ 400,000,000	$ 400,000,000	$ 400,000,000
Stated Interest Rate	2.95%	2.95%	2.95%
Proceeds from issuance of senior unsecured notes	$ 396,600,000
Percent of principal note amount issued	99.80%
Deferred finance costs	$ 4,700,000
Offering discount	$ 800,000	$ 600,000	$ 700,000
Debt instrument, redemption price, percentage (as a percent)		100%
Total deferred finance costs, net		$ 3,600,000	$ 4,000,000

Long Term Debt - Senior Unsec_2

Long Term Debt - Senior Unsecured Note - Schedule of Interest Expense and Amounts Outstanding (Details) - 2031 Senior Notes - Senior Unsecured Notes - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Stated Interest Rate	2.95%	2.95%	2.95%
Principal Outstanding	$ 400,000,000	$ 400,000,000	$ 400,000,000

Derivative and Hedging Activi_3

Derivative and Hedging Activities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivatives reclassified from other comprehensive income	$ 22,400
Derivative asset, including accrued interest	31,100	$ 48,200
Derivative liability, including accrued interest	23,400	2,400
Derivative asset, termination value	7,700	45,900
Cash Flow Hedging | Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Gain (loss) on change in fair value	$ 27,700	$ (26)	$ (10,100)

Derivative and Hedging Activi_4

Derivative and Hedging Activities - Summary of Notional Amount and Fair Value of Instruments (Details) - Derivatives Designated as Hedging Instruments $ in Thousands	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($)
Derivatives, Fair Value [Line Items]
Notional value	$ 1,480,000
Fair Value of Asset/(Liability)	$ 7,975	$ 45,603
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Contracts entered into | contract	2
Interest Rate Swap One
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.96%
Notional value	$ 100,000
Fair Value of Asset/(Liability)	$ 981	3,545
Interest Rate Swap Two
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.95%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ 492	1,781
Interest Rate Swap Three
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.94%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ 492	1,777
Interest Rate Swap Four
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.52%
Notional value	$ 175,000
Fair Value of Asset/(Liability)	$ 10,654	14,685
Interest Rate Swap Five
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.51%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ 3,077	4,248
Interest Rate Swap Six
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.49%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ 1,542	2,120
Interest Rate Swap Seven
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.26%
Notional value	$ 100,000
Fair Value of Asset/(Liability)	$ 6,810	9,324
Interest Rate Swap Eight
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	1.28%
Notional value	$ 80,000
Fair Value of Asset/(Liability)	$ 5,406	7,418
Interest Rate Swap Nine
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.19%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ 688	1,166
Interest Rate Swap Ten
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.35%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ 383	804
Interest Rate Swap Eleven
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.36%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ 180	387
Interest Rate Swap Twelve
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.43%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ 226	612
Interest Rate Swap Thirteen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.71%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ (290)	(12)
Interest Rate Swap Fourteen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.70%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (144)	(15)
Interest Rate Swap Fifteen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ (851)	(693)
Interest Rate Swap Sixteen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	3.95%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (378)	(293)
Interest Rate Swap Seventeen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.03%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (459)	(396)
Interest Rate Swap Eighteen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.06%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (485)	(427)
Interest Rate Swap Nineteen
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.07%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (492)	(428)
Interest Rate Swap Twenty
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.15%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ (1,550)	0
Interest Rate Swap tewnty one
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.38%
Notional value	$ 75,000
Fair Value of Asset/(Liability)	$ (3,193)	0
Interest Rate Swap Twenty Two
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.39%
Notional value	$ 50,000
Fair Value of Asset/(Liability)	$ (2,114)	0
Interest Rate Swap Twenty Three
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.32%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (981)	0
Interest Rate Swap Twenty Four
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.32%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (980)	0
Interest Rate Swap Twenty Five
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.51%
Notional value	$ 25,000
Fair Value of Asset/(Liability)	$ (1,207)	0
Interest Rate Swap Twenty Six
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.48%
Notional value	$ 100,000
Fair Value of Asset/(Liability)	$ (4,919)	0
Interest Rate Swap Twenty Seven
Derivatives, Fair Value [Line Items]
Fixed Rate Paid by Company	4.48%
Notional value	$ 100,000
Fair Value of Asset/(Liability)	$ (4,913)	$ 0

Derivative and Hedging Activi_5

Derivative and Hedging Activities - Summary of Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) income	$ (36,874)	$ 56,762	$ 22,508
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) income	$ (36,874)	$ 56,762	$ 22,508

Equity - Additional Information

Equity - Additional Information (Details) - USD ($)	1 Months Ended				4 Months Ended		12 Months Ended
	Sep. 30, 2023	Feb. 28, 2023	Aug. 31, 2022	Apr. 30, 2021	Dec. 31, 2023	May 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 31, 2022
Class of Stock [Line Items]
Proceeds from issuance of common stock, net							$ 507,318,000	$ 403,884,000	$ 458,267,000
Percentage of cash distributions paid to stockholders that were considered taxable income (as a percent)							86%	79.70%	69.40%
Percentage of cash distributions paid to stockholders that were considered a return of capital (as a percent)							14%	20.30%	30.60%
2022 ATM Program
Class of Stock [Line Items]
Authorized equity distribution program					$ 500,000,000		$ 500,000,000			$ 500,000,000
Common Stock
Class of Stock [Line Items]
Shares of common stock sold (in shares)							21,971,744	17,576,684	18,230,721
Common Stock | Follow-On Offering
Class of Stock [Line Items]
Shares of common stock sold (in shares)	12,006,000	8,855,000	8,740,000	8,222,500
Number of shares sold pursuant to underwriter's option (in shares)	1,566,000	1,155,000	1,140,000	1,072,500
Price of shares sold (in USD per share)	$ 23	$ 24.60	$ 23	$ 23.50
Proceeds from shares sold			$ 192,600,000	$ 185,100,000	$ 263,400,000	$ 209,300,000
Shares settled (in shares)					8,165,087
Proceeds from issuance of common stock, net					$ 180,000,000

Equity - Schedule of Informatio

Equity - Schedule of Information about 2022 ATM and Prior Programs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	May 31, 2022
2019 ATM Program
Subsidiary, Sale of Stock [Line Items]
Maximum Sales Authorization	$ 200,000,000
Gross proceeds	184,400,000
2020 ATM Program
Subsidiary, Sale of Stock [Line Items]
Maximum Sales Authorization	250,000,000
Gross proceeds	166,800,000
2021 ATM Program
Subsidiary, Sale of Stock [Line Items]
Maximum Sales Authorization	350,000,000
Gross proceeds	348,140,000
2022 ATM Program
Subsidiary, Sale of Stock [Line Items]
Maximum Sales Authorization	500,000,000	$ 500,000,000
Gross proceeds	$ 220,643,000
Shares sold on a forward basis, not yet settled (in shares)	1,937,450

Equity - Schedule of At the Mar

Equity - Schedule of At the Market Program (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Net proceeds	$ 507,318	$ 403,884	$ 458,267
ATM Program
Subsidiary, Sale of Stock [Line Items]
Shares of common stock sold (in shares)	5,931,654	9,794,137	10,005,890
Weighted average sale price per share (in USD per share)	$ 24.48	$ 24	$ 27.58
Gross proceeds	$ 145,224	$ 235,060	$ 275,972
Net proceeds	$ 142,922	$ 232,478	$ 271,949
Shares sold on a forward basis, not yet settled (in shares)	1,937,450
Additional shares sold on a forward basis, not yet settled (in shares)	957,453

Equity - Summary of Quarterly C

Equity - Summary of Quarterly Cash Dividends (Details) - Common Stock - USD ($) $ / shares in Units, $ in Thousands	Dec. 01, 2023	Sep. 07, 2023	Jun. 09, 2023	Mar. 07, 2023	Nov. 30, 2022	Sep. 02, 2022	Jun. 02, 2022	Mar. 14, 2022	Dec. 03, 2021	Sep. 02, 2021	May 27, 2021	Mar. 05, 2021
Dividends Payable [Line Items]
Dividend per Share of Common Stock (in USD per share)	$ 0.285	$ 0.28	$ 0.28	$ 0.275	$ 0.275	$ 0.27	$ 0.27	$ 0.26	$ 0.26	$ 0.25	$ 0.25	$ 0.24
Total Dividend (dollars in thousands)	$ 47,024	$ 43,788	$ 43,551	$ 41,031	$ 39,246	$ 38,533	$ 35,916	$ 34,188	$ 32,466	$ 30,397	$ 29,559	$ 26,265

Non-controlling Interests (Deta

Non-controlling Interests (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Outstanding period for distribution	1 year
Operating Partnership Unit
Noncontrolling Interest [Line Items]
Percentage of ownership interests in operating partnership (as a percent)	99.70%	99.60%
Award exchange ratio	1
Operating Partnership Unit | EPRT Holdings LLC
Noncontrolling Interest [Line Items]
Percentage of ownership interests in operating partnership (as a percent)	0.30%	0.40%
Interest held in operating partnership (in shares)	553,847	553,847
Eldridge Industries, LLC | Operating Partnership Unit
Noncontrolling Interest [Line Items]
Operating partnership units held (in shares)	164,635,150	142,379,655
Essential Properties OP GP LLC
Noncontrolling Interest [Line Items]
Percentage of general partner partnership interest owned (as a percent)	1%

Equity Based Compensation - Equ

Equity Based Compensation - Equity Incentive Plan - Additional Information (Details)	Dec. 31, 2023 shares
Share-Based Payment Arrangement [Abstract]
Maximum number of shares issuable under plan (in shares)	4,300,808

Equity Based Compensation - Sch

Equity Based Compensation - Schedule of Information about RSAs and RSUs Units (Details) - $ / shares	1 Months Ended		12 Months Ended
	Jan. 31, 2019	Jun. 30, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Awards
Restricted Stock Awards
Beginning balance (in shares)			9,039	18,904	240,598
Granted (in shares)	46,368	691,290	0	0	0
Vested (in shares)			(9,039)	(9,865)	(221,694)
Forfeited (in shares)			0	0	0
Ending balance (in shares)			0	9,039	18,904
Restricted Stock Units
Beginning balance (in USD per share)			$ 14.12	$ 14.12	$ 13.73
Granted (in USD per share)			0	0	0
Vested (in USD per share)			14.12	14.12	13.70
Forfeited (in USD per share)			0	0	0
Ending balance (in USD per share)			$ 14.12	$ 14.12	$ 14.12
Restricted Stock Units
Restricted Stock Awards
Beginning balance (in shares)			817,380	454,692	321,602
Granted (in shares)			457,859	607,347	213,686
Vested (in shares)			(436,967)	(243,640)	(72,879)
Forfeited (in shares)			(94,419)	(1,019)	(7,717)
Ending balance (in shares)			743,853	817,380	454,692
Restricted Stock Units
Beginning balance (in USD per share)			$ 30.26	$ 29.39	$ 25.27
Granted (in USD per share)			31.39	29.08	31.78
Vested (in USD per share)			26.98	25.70	18.83
Forfeited (in USD per share)			32.79	27.25	23.52
Ending balance (in USD per share)			$ 32.56	$ 30.26	$ 29.39

Equity Based Compensation - Res

Equity Based Compensation - Restricted Stock Awards - Additional Information (Details) - Restricted Stock Awards - shares	1 Months Ended		12 Months Ended
	Jan. 31, 2019	Jun. 30, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unvested shares issued (in shares)	46,368	691,290	0	0	0
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	3 years

Equity Based Compensation - S_2

Equity Based Compensation - Schedule of Information about RSAs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized in general and administrative expense	$ 9,006	$ 9,489	$ 5,683
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared on unvested RSAs and charged directly to distributions in excess of cumulative earnings	0	8	70
Fair value of shares vested during the period	128	139	3,037
Restricted Stock Awards | General and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized in general and administrative expense	$ 2	$ 128	$ 1,548

Equity Based Compensation - S_3

Equity Based Compensation - Schedule of Information about Unrecognized Compensation Cost RSAs (Details) - Restricted Stock Awards - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 0	$ 2	$ 130
Weighted average period over which compensation cost will be recognized (in years)	0 years	1 month 6 days	1 year

Equity Based Compensation - R_2

Equity Based Compensation - Restricted Stock Units - Additional Information (Details)	1 Months Ended			12 Months Ended					14 Months Ended
	Apr. 30, 2023 shares	Feb. 28, 2023 shares	Jan. 31, 2022 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares	Dec. 31, 2019 shares	Feb. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based compensation expense | $				$ 9,006,000	$ 9,489,000	$ 5,683,000
Performance Based Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unvested shares issued (in shares) | shares		50,598	78,801	147,587	149,699	126,353	84,684	119,085
Nonvested share awards percentage (as a percent)				75%
Performance period				20 days
TSR as percentage of peer group				50%
Nonvested share awards remaining percentage issued (as a percent)				25%
Equity based compensation expense | $				$ 0	$ 0	$ 0
Performance Based Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage payout (as a percent)									50%
Performance Based Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage payout (as a percent)									50%
Performance Based Restricted Stock Units (RSUs) | Executive officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unvested shares issued (in shares) | shares	11,334		69,372
Vesting performance period			5 years
Performance Based Restricted Stock Units (RSUs) | Executive officers | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Vesting percentage payout (as a percent)			50%
Performance Based Restricted Stock Units (RSUs) | Executive officers | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Vesting percentage payout (as a percent)			50%
Performance Based Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage payout (as a percent)				0%
Performance Based Restricted Stock Units (RSUs) | Minimum | Executive officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award payout based on adjusted funds from operations performance (as a percent)			0
Performance Based Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage payout (as a percent)				250%
Performance Based Restricted Stock Units (RSUs) | Maximum | Executive officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award payout based on adjusted funds from operations performance (as a percent)			2
Performance Based Restricted Stock Units (RSUs) Granted To Former Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based compensation expense | $				$ 300,000
Time Based Restricted Stock Based Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unvested shares issued (in shares) | shares				210,406	199,793	135,686	184,760
Vesting period				5 years	5 years	5 years

Equity Based Compensation - S_4

Equity Based Compensation - Schedule of Assumptions Used in Measurement of Grant Date Fair Value of Total Shareholder Return RSUs Using Monte Carlo Simulation Model (Details) - Performance Based Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	37%	54%	55%
Risk free rate	4.36%	1.68%	0.20%

Equity Based Compensation - S_5

Equity Based Compensation - Schedule of Information about RSUs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized in general and administrative expense	$ 9,006	$ 9,489	$ 5,683
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend equivalents declared and charged directly to distributions in excess of cumulative earnings	407	366	241
Fair value of units vested during the period	11,791	6,262	1,372
Restricted Stock Units | General and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized in general and administrative expense	$ 9,002	$ 9,361	$ 4,135

Equity Based Compensation - S_6

Equity Based Compensation - Schedule of Information about Unrecognized Compensation Cost Restricted Stock Units (Details) - Restricted Stock Units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 13,131	$ 13,761
Weighted average period over which compensation cost will be recognized (in years)	2 years 2 months 12 days	2 years 9 months 18 days

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Details)	Dec. 31, 2023
Operating Partnership Unit
Earnings Per Share [Line Items]
Award exchange ratio	1

Net Income Per Share - Reconcil

Net Income Per Share - Reconciliation of Numerator and Denominator used in Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator for basic and diluted earnings per share:
Net income	$ 191,415	$ 134,742	$ 96,211
Less: net income attributable to non-controlling interests	(708)	(612)	(486)
Less: net income allocated to unvested RSAs and RSUs	(407)	(374)	(311)
Net income available for common stockholders: basic	190,300	133,756	95,414
Net income attributable to non-controlling interests	708	612	486
Net income available for common stockholders: diluted	$ 191,008	$ 134,368	$ 95,900
Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding (in shares)	152,140,896	134,950,418	116,479,322
Less: weighted average number of shares of unvested RSAs (in shares)	(161)	(9,230)	(121,263)
Weighted average shares outstanding used in basic net income per share (in shares)	152,140,735	134,941,188	116,358,059
Effects of dilutive securities:
Forward sales (in shares)	405,980	4,837	0
Weighted average shares outstanding used in diluted net income per share (in shares)	153,521,854	135,855,916	117,466,338
Unvested RSAs and RSUs
Effects of dilutive securities:
Antidilutive securities excluded from computation of earnings per share (in shares)	179,807	171,059
Unvested RSAs and RSUs
Effects of dilutive securities:
Dilutive securities (in shares)	421,292	356,044	554,432
Operating Partnership Unit
Effects of dilutive securities:
Dilutive securities (in shares)	553,847	553,847	553,847

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Commitments and Contingencies [Line Items]
Reimbursement to tenants	$ 180.6
Employer matching contribution, percent of match (as a percent)	100%
Employer matching contribution, percent of eligible compensation (as a percent)	6%
Executive officers
Commitments and Contingencies [Line Items]
Employment agreement initial term	4 years
Employment agreement, automatic extension period upon non-renewal notice not provided	1 year
Employment agreement, base salary term after termination	12 months
Employment agreement, COBRA term after termination	12 months

Commitment and Contingencies -

Commitment and Contingencies - Schedule of Matching Contributions for Defined Contribution Retirement Savings Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
401(k) matching contributions	$ 331	$ 318	$ 205

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Values of Financial Assets Measured at Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Senior Unsecured Notes | July 2031 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total deferred finance costs, net	$ 3,600	$ 4,000
Offering discount	600	700	$ 800
Fair Value Measurements, Recurring | Net Carrying Value | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	7,975	45,603
Fair Value Measurements, Recurring | Net Carrying Value | Senior Unsecured Notes | July 2031 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior unsecured notes	395,846	395,286
Fair Value Measurements, Recurring | Fair Value | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	7,975	45,603
Fair Value Measurements, Recurring | Fair Value | Senior Unsecured Notes | July 2031 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior unsecured notes	315,336	292,120
Fair Value Measurements, Recurring | Fair Value | Level 1 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	0	0
Fair Value Measurements, Recurring | Fair Value | Level 1 | Senior Unsecured Notes | July 2031 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior unsecured notes	315,336	292,120
Fair Value Measurements, Recurring | Fair Value | Level 2 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	7,975	45,603
Fair Value Measurements, Recurring | Fair Value | Level 2 | Senior Unsecured Notes | July 2031 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior unsecured notes	0	0
Fair Value Measurements, Recurring | Fair Value | Level 3 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	0	0
Fair Value Measurements, Recurring | Fair Value | Level 3 | Senior Unsecured Notes | July 2031 Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior unsecured notes	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Fair Values of Real Estate Investments Measured at Nonrecurring Basis (Details) - Fair Value Measurements, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Net Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 4,510	$ 12,144
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	4,510	12,144
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	0	0
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 4,510	$ 12,144

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of Quantitative Information About Level 3 Fair Value Measurements (Details) - Level 3 $ in Thousands	Dec. 31, 2023 USD ($)
Convenience store
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 1,500
Convenience store | Sales comparison approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Significant Unobservable Inputs	1,500
Pet Care Services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 2,139
Pet Care Services | Sales comparison approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Significant Unobservable Inputs	2,139
Restaurants - Quick Service
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 871
Restaurants - Quick Service | Discounted cash flow approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Significant Unobservable Inputs	871
Restaurants - Quick Service | Discounted cash flow approach | Terminal value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Significant Unobservable Inputs	0.080
Restaurants - Quick Service | Discounted cash flow approach | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Significant Unobservable Inputs	0.085

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	1 Months Ended	2 Months Ended	12 Months Ended
	Jan. 31, 2024 USD ($) shares	Feb. 14, 2024 USD ($) property	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares
Subsequent Event
Investment in mortgage loans receivable			$ 13,091	$ 115,016	$ 136,391
Proceeds from issuance of common stock, net			507,318	$ 403,884	$ 458,267
2022 ATM Program
Subsequent Event
Gross sales (in shares)			$ 220,643
Time Based Restricted Stock Based Units (RSUs)
Subsequent Event
Number of unvested shares issued (in shares) | shares			210,406	199,793	135,686	184,760
Vesting period			5 years	5 years	5 years
Subsequent Event
Subsequent Event
Number of real estate investment properties acquired | property		12
Aggregate investment (including acquisition-related costs)		$ 16,800
Investment in new and ongoing construction in progress		10,100
Investment in mortgage loans receivable		$ 14,000
Number of investment properties sold or transferred | property		4
Investment, aggregate gross sales price		$ 9,100
Investment, disposition costs		$ 300
Subsequent Event | 2022 ATM Program
Subsequent Event
Common stock issuance (in shares) | shares	34,000
Gross sales (in shares)	$ 900
Shares settled (in shares) | shares	1,374,363
Proceeds from issuance of common stock, net	$ 30,000
Subsequent Event | Time Based Restricted Stock Based Units (RSUs) | Employees
Subsequent Event
Number of unvested shares issued (in shares) | shares	51,158
Vesting period	4 years

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1,728
Initial cost to company, land & improvements	$ 1,537,920
Initial cost to company, building & improvements	2,848,294
Cost capitalized subsequent to acquisition, land & improvements	4,382
Cost capitalized subsequent to acquisition, building & improvements	89,718
Gross amount, land & improvements	1,542,302
Gross amount, building & improvements	2,938,012
Gross amount, total	4,480,314	$ 3,669,317	$ 3,040,073	$ 2,260,919
Accumulated depreciation	$ (321,944)	$ (238,022)	$ (169,126)	$ (112,144)
Automotive Service | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 770
Initial cost to company, building & improvements	882
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	770
Gross amount, building & improvements	882
Gross amount, total	1,652
Accumulated depreciation	$ (123)
Automotive Service | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	9
Initial cost to company, land & improvements	$ 10,587
Initial cost to company, building & improvements	19,611
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,587
Gross amount, building & improvements	19,611
Gross amount, total	30,198
Accumulated depreciation	$ (1,738)
Automotive Service | California
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 4,502
Initial cost to company, building & improvements	8,499
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,502
Gross amount, building & improvements	8,499
Gross amount, total	13,001
Accumulated depreciation	$ (627)
Automotive Service | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 6,027
Initial cost to company, building & improvements	11,544
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	170
Gross amount, land & improvements	6,027
Gross amount, building & improvements	11,714
Gross amount, total	17,741
Accumulated depreciation	$ (901)
Automotive Service | Connecticut
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 3,504
Initial cost to company, building & improvements	6,262
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,504
Gross amount, building & improvements	6,262
Gross amount, total	9,766
Accumulated depreciation	$ (58)
Automotive Service | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,862
Initial cost to company, building & improvements	2,642
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	580
Gross amount, land & improvements	1,862
Gross amount, building & improvements	3,223
Gross amount, total	5,084
Accumulated depreciation	$ (683)
Automotive Service | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	23
Initial cost to company, land & improvements	$ 11,517
Initial cost to company, building & improvements	25,952
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	11,517
Gross amount, building & improvements	25,952
Gross amount, total	37,468
Accumulated depreciation	$ (1,551)
Automotive Service | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 4,032
Initial cost to company, building & improvements	9,513
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	54
Gross amount, land & improvements	4,032
Gross amount, building & improvements	9,567
Gross amount, total	13,599
Accumulated depreciation	$ (646)
Automotive Service | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 1,509
Initial cost to company, building & improvements	4,617
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	302
Gross amount, land & improvements	1,509
Gross amount, building & improvements	4,919
Gross amount, total	6,427
Accumulated depreciation	$ (327)
Automotive Service | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 747
Initial cost to company, building & improvements	1,462
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	245
Gross amount, land & improvements	747
Gross amount, building & improvements	1,707
Gross amount, total	2,454
Accumulated depreciation	$ (19)
Automotive Service | Kansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 3,009
Initial cost to company, building & improvements	4,366
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,009
Gross amount, building & improvements	4,366
Gross amount, total	7,375
Accumulated depreciation	$ (346)
Automotive Service | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 264
Initial cost to company, building & improvements	1,131
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	264
Gross amount, building & improvements	1,131
Gross amount, total	1,395
Accumulated depreciation	$ (3)
Automotive Service | Maine
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,463
Initial cost to company, building & improvements	3,467
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,463
Gross amount, building & improvements	3,467
Gross amount, total	4,930
Accumulated depreciation	$ (45)
Automotive Service | Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 3,973
Initial cost to company, building & improvements	12,825
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,973
Gross amount, building & improvements	12,825
Gross amount, total	16,798
Accumulated depreciation	$ (2,376)
Automotive Service | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 512
Initial cost to company, building & improvements	1,804
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	512
Gross amount, building & improvements	1,804
Gross amount, total	2,316
Accumulated depreciation	$ (17)
Automotive Service | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	12
Initial cost to company, land & improvements	$ 5,277
Initial cost to company, building & improvements	10,807
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,277
Gross amount, building & improvements	10,807
Gross amount, total	16,084
Accumulated depreciation	$ (1,437)
Automotive Service | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,442
Initial cost to company, building & improvements	7,602
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,442
Gross amount, building & improvements	7,602
Gross amount, total	11,044
Accumulated depreciation	$ (1,198)
Automotive Service | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 1,948
Initial cost to company, building & improvements	3,114
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,948
Gross amount, building & improvements	3,114
Gross amount, total	5,062
Accumulated depreciation	$ (344)
Automotive Service | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 3,525
Initial cost to company, building & improvements	9,103
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	200
Gross amount, land & improvements	3,525
Gross amount, building & improvements	9,303
Gross amount, total	12,828
Accumulated depreciation	$ (557)
Automotive Service | Nebraska
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,177
Initial cost to company, building & improvements	479
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,177
Gross amount, building & improvements	479
Gross amount, total	1,656
Accumulated depreciation	$ (58)
Automotive Service | New Jersey
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	16
Initial cost to company, land & improvements	$ 18,996
Initial cost to company, building & improvements	22,047
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	18,996
Gross amount, building & improvements	22,047
Gross amount, total	41,043
Accumulated depreciation	$ (2,522)
Automotive Service | New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 800
Initial cost to company, building & improvements	3,016
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	50
Gross amount, land & improvements	800
Gross amount, building & improvements	3,066
Gross amount, total	3,866
Accumulated depreciation	$ (212)
Automotive Service | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 3,735
Initial cost to company, building & improvements	8,978
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,735
Gross amount, building & improvements	8,978
Gross amount, total	12,713
Accumulated depreciation	$ (1,257)
Automotive Service | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	9
Initial cost to company, land & improvements	$ 3,249
Initial cost to company, building & improvements	3,366
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,249
Gross amount, building & improvements	3,366
Gross amount, total	6,614
Accumulated depreciation	$ (651)
Automotive Service | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 2,764
Initial cost to company, building & improvements	5,063
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,764
Gross amount, building & improvements	5,063
Gross amount, total	7,827
Accumulated depreciation	$ (444)
Automotive Service | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	20
Initial cost to company, land & improvements	$ 9,013
Initial cost to company, building & improvements	27,923
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,013
Gross amount, building & improvements	27,923
Gross amount, total	36,936
Accumulated depreciation	$ (2,965)
Automotive Service | Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,076
Initial cost to company, building & improvements	1,104
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,076
Gross amount, building & improvements	1,104
Gross amount, total	2,180
Accumulated depreciation	$ (85)
Automotive Service | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 4,920
Initial cost to company, building & improvements	8,651
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,920
Gross amount, building & improvements	8,651
Gross amount, total	13,571
Accumulated depreciation	$ (822)
Automotive Service | Rhode Island
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,834
Initial cost to company, building & improvements	2,178
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,834
Gross amount, building & improvements	2,178
Gross amount, total	4,012
Accumulated depreciation	$ (28)
Automotive Service | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 1,409
Initial cost to company, building & improvements	2,574
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	580
Gross amount, land & improvements	1,409
Gross amount, building & improvements	3,154
Gross amount, total	4,563
Accumulated depreciation	$ (121)
Automotive Service | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,584
Initial cost to company, building & improvements	3,368
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,584
Gross amount, building & improvements	3,368
Gross amount, total	5,952
Accumulated depreciation	$ (515)
Automotive Service | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	15
Initial cost to company, land & improvements	$ 10,949
Initial cost to company, building & improvements	23,030
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	300
Gross amount, land & improvements	10,949
Gross amount, building & improvements	23,330
Gross amount, total	34,279
Accumulated depreciation	$ (3,328)
Automotive Service | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 224
Initial cost to company, building & improvements	734
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	224
Gross amount, building & improvements	734
Gross amount, total	959
Accumulated depreciation	$ (96)
Automotive Service | West Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 1,985
Initial cost to company, building & improvements	4,519
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,985
Gross amount, building & improvements	4,519
Gross amount, total	6,504
Accumulated depreciation	$ (413)
Automotive Service | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	9
Initial cost to company, land & improvements	$ 3,175
Initial cost to company, building & improvements	7,554
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	74
Gross amount, land & improvements	3,175
Gross amount, building & improvements	7,627
Gross amount, total	10,802
Accumulated depreciation	$ (503)
Building Materials | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,060
Initial cost to company, building & improvements	3,640
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,060
Gross amount, building & improvements	3,640
Gross amount, total	5,700
Accumulated depreciation	$ (848)
Building Materials | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 760
Initial cost to company, building & improvements	403
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	760
Gross amount, building & improvements	403
Gross amount, total	1,163
Accumulated depreciation	$ (94)
Building Materials | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 934
Initial cost to company, building & improvements	638
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	934
Gross amount, building & improvements	638
Gross amount, total	1,572
Accumulated depreciation	$ (149)
Building Materials | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,338
Initial cost to company, building & improvements	4,165
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,338
Gross amount, building & improvements	4,165
Gross amount, total	6,503
Accumulated depreciation	$ (971)
Building Materials | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,072
Initial cost to company, building & improvements	1,619
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,072
Gross amount, building & improvements	1,619
Gross amount, total	2,691
Accumulated depreciation	$ (267)
Building Materials | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 414
Initial cost to company, building & improvements	200
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	414
Gross amount, building & improvements	200
Gross amount, total	614
Accumulated depreciation	$ (47)
Building Materials | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 4,438
Initial cost to company, building & improvements	8,425
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,438
Gross amount, building & improvements	8,425
Gross amount, total	12,863
Accumulated depreciation	$ (1,244)
Building Materials | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 3,011
Initial cost to company, building & improvements	4,573
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,011
Gross amount, building & improvements	4,573
Gross amount, total	7,584
Accumulated depreciation	$ (1,066)
Building Materials | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,097
Initial cost to company, building & improvements	172
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,097
Gross amount, building & improvements	172
Gross amount, total	1,268
Accumulated depreciation	$ (40)
Building Materials | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 5,228
Initial cost to company, building & improvements	3,746
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,228
Gross amount, building & improvements	3,746
Gross amount, total	8,974
Accumulated depreciation	$ (873)
Car Washes | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 6,867
Initial cost to company, building & improvements	10,141
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,867
Gross amount, building & improvements	10,141
Gross amount, total	17,008
Accumulated depreciation	$ (394)
Car Washes | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	12
Initial cost to company, land & improvements	$ 18,697
Initial cost to company, building & improvements	31,746
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	18,697
Gross amount, building & improvements	31,746
Gross amount, total	50,443
Accumulated depreciation	$ (2,628)
Car Washes | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,757
Initial cost to company, building & improvements	11,016
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,757
Gross amount, building & improvements	11,016
Gross amount, total	13,773
Accumulated depreciation	$ (1,033)
Car Washes | California
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 14,218
Initial cost to company, building & improvements	8,388
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	14,218
Gross amount, building & improvements	8,388
Gross amount, total	22,606
Accumulated depreciation	$ (202)
Car Washes | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 10,679
Initial cost to company, building & improvements	14,064
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,679
Gross amount, building & improvements	14,064
Gross amount, total	24,743
Accumulated depreciation	$ (2,319)
Car Washes | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 12,009
Initial cost to company, building & improvements	27,468
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	283
Gross amount, land & improvements	12,009
Gross amount, building & improvements	27,752
Gross amount, total	39,760
Accumulated depreciation	$ (1,872)
Car Washes | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	21
Initial cost to company, land & improvements	$ 27,953
Initial cost to company, building & improvements	57,475
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	2,055
Gross amount, land & improvements	27,953
Gross amount, building & improvements	59,530
Gross amount, total	87,483
Accumulated depreciation	$ (8,063)
Car Washes | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,674
Initial cost to company, building & improvements	3,227
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,674
Gross amount, building & improvements	3,227
Gross amount, total	4,901
Accumulated depreciation	$ (375)
Car Washes | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,249
Initial cost to company, building & improvements	11,175
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,249
Gross amount, building & improvements	11,175
Gross amount, total	13,424
Accumulated depreciation	$ (352)
Car Washes | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 5,923
Initial cost to company, building & improvements	4,490
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,923
Gross amount, building & improvements	4,490
Gross amount, total	10,413
Accumulated depreciation	$ (324)
Car Washes | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 4,596
Initial cost to company, building & improvements	12,695
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	425
Gross amount, land & improvements	4,596
Gross amount, building & improvements	13,120
Gross amount, total	17,716
Accumulated depreciation	$ (1,080)
Car Washes | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,268
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,268
Gross amount, building & improvements	0
Gross amount, total	1,268
Accumulated depreciation	$ 0
Car Washes | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,430
Initial cost to company, building & improvements	3,253
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,430
Gross amount, building & improvements	3,253
Gross amount, total	4,683
Accumulated depreciation	$ (12)
Car Washes | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,923
Initial cost to company, building & improvements	13,810
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	567
Gross amount, land & improvements	3,923
Gross amount, building & improvements	14,376
Gross amount, total	18,299
Accumulated depreciation	$ (524)
Car Washes | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,928
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,928
Gross amount, building & improvements	0
Gross amount, total	2,928
Accumulated depreciation	$ 0
Car Washes | Nebraska
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 597
Initial cost to company, building & improvements	2,569
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	597
Gross amount, building & improvements	2,569
Gross amount, total	3,166
Accumulated depreciation	$ (258)
Car Washes | Nevada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 6,269
Initial cost to company, building & improvements	10,385
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,269
Gross amount, building & improvements	10,385
Gross amount, total	16,654
Accumulated depreciation	$ (96)
Car Washes | New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,461
Initial cost to company, building & improvements	12,216
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,461
Gross amount, building & improvements	12,216
Gross amount, total	14,676
Accumulated depreciation	$ (2,504)
Car Washes | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 6,538
Initial cost to company, building & improvements	24,076
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,538
Gross amount, building & improvements	24,076
Gross amount, total	30,614
Accumulated depreciation	$ (1,097)
Car Washes | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 3,159
Initial cost to company, building & improvements	6,813
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,159
Gross amount, building & improvements	6,813
Gross amount, total	9,972
Accumulated depreciation	$ (693)
Car Washes | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 6,911
Initial cost to company, building & improvements	18,490
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,911
Gross amount, building & improvements	18,490
Gross amount, total	25,401
Accumulated depreciation	$ (1,476)
Car Washes | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,536
Initial cost to company, building & improvements	2,077
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,536
Gross amount, building & improvements	2,077
Gross amount, total	4,613
Accumulated depreciation	$ (240)
Car Washes | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 793
Initial cost to company, building & improvements	4,031
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	793
Gross amount, building & improvements	4,031
Gross amount, total	4,824
Accumulated depreciation	$ (741)
Car Washes | South Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 5,890
Initial cost to company, building & improvements	14,859
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,225
Gross amount, land & improvements	5,890
Gross amount, building & improvements	16,084
Gross amount, total	21,973
Accumulated depreciation	$ (2,038)
Car Washes | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,618
Initial cost to company, building & improvements	2,724
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,618
Gross amount, building & improvements	2,724
Gross amount, total	5,343
Accumulated depreciation	$ (12)
Car Washes | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	19
Initial cost to company, land & improvements	$ 31,500
Initial cost to company, building & improvements	54,385
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	775
Gross amount, land & improvements	31,500
Gross amount, building & improvements	55,160
Gross amount, total	86,660
Accumulated depreciation	$ (3,207)
Car Washes | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	15
Initial cost to company, land & improvements	$ 20,563
Initial cost to company, building & improvements	38,700
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	20,563
Gross amount, building & improvements	38,700
Gross amount, total	59,263
Accumulated depreciation	$ (1,281)
Car Washes | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 7,000
Initial cost to company, building & improvements	9,976
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	7,000
Gross amount, building & improvements	9,976
Gross amount, total	16,976
Accumulated depreciation	$ (91)
Convenience Stores | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,085
Initial cost to company, building & improvements	2,791
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	34
Gross amount, land & improvements	2,085
Gross amount, building & improvements	2,825
Gross amount, total	4,910
Accumulated depreciation	$ (750)
Convenience Stores | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	10
Initial cost to company, land & improvements	$ 6,845
Initial cost to company, building & improvements	8,337
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	50
Gross amount, land & improvements	6,845
Gross amount, building & improvements	8,387
Gross amount, total	15,232
Accumulated depreciation	$ (2,311)
Convenience Stores | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 272
Initial cost to company, building & improvements	1,047
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	272
Gross amount, building & improvements	1,047
Gross amount, total	1,319
Accumulated depreciation	$ (223)
Convenience Stores | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 656
Initial cost to company, building & improvements	832
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	656
Gross amount, building & improvements	832
Gross amount, total	1,488
Accumulated depreciation	$ (197)
Convenience Stores | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 840
Initial cost to company, building & improvements	838
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	840
Gross amount, building & improvements	838
Gross amount, total	1,678
Accumulated depreciation	$ (265)
Convenience Stores | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,362
Initial cost to company, building & improvements	2,380
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,362
Gross amount, building & improvements	2,380
Gross amount, total	3,742
Accumulated depreciation	$ (162)
Convenience Stores | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 9,442
Initial cost to company, building & improvements	5,630
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,442
Gross amount, building & improvements	5,630
Gross amount, total	15,072
Accumulated depreciation	$ (1,828)
Convenience Stores | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,325
Initial cost to company, building & improvements	5,396
Cost capitalized subsequent to acquisition, land & improvements	14
Cost capitalized subsequent to acquisition, building & improvements	104
Gross amount, land & improvements	3,339
Gross amount, building & improvements	5,500
Gross amount, total	8,839
Accumulated depreciation	$ (1,534)
Convenience Stores | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,931
Initial cost to company, building & improvements	2,396
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,931
Gross amount, building & improvements	2,396
Gross amount, total	4,327
Accumulated depreciation	$ (696)
Convenience Stores | New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	12
Initial cost to company, land & improvements	$ 4,781
Initial cost to company, building & improvements	8,998
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,781
Gross amount, building & improvements	8,998
Gross amount, total	13,780
Accumulated depreciation	$ (2,172)
Convenience Stores | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	16
Initial cost to company, land & improvements	$ 5,881
Initial cost to company, building & improvements	20,342
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,881
Gross amount, building & improvements	20,342
Gross amount, total	26,222
Accumulated depreciation	$ (5,931)
Convenience Stores | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 758
Initial cost to company, building & improvements	873
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	758
Gross amount, building & improvements	873
Gross amount, total	1,631
Accumulated depreciation	$ (5)
Convenience Stores | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	21
Initial cost to company, land & improvements	$ 15,191
Initial cost to company, building & improvements	13,382
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	15,191
Gross amount, building & improvements	13,382
Gross amount, total	28,573
Accumulated depreciation	$ (4,122)
Convenience Stores | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 467
Initial cost to company, building & improvements	383
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	467
Gross amount, building & improvements	383
Gross amount, total	850
Accumulated depreciation	$ (141)
Convenience Stores | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 3,408
Initial cost to company, building & improvements	7,038
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,408
Gross amount, building & improvements	7,038
Gross amount, total	10,446
Accumulated depreciation	$ (28)
Convenience Stores | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 1,827
Initial cost to company, building & improvements	5,161
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	975
Gross amount, land & improvements	1,827
Gross amount, building & improvements	6,137
Gross amount, total	7,964
Accumulated depreciation	$ (1,205)
Convenience Stores | Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 568
Initial cost to company, building & improvements	508
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	568
Gross amount, building & improvements	508
Gross amount, total	1,077
Accumulated depreciation	$ (148)
Convenience Stores | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	32
Initial cost to company, land & improvements	$ 36,034
Initial cost to company, building & improvements	37,234
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	36,034
Gross amount, building & improvements	37,234
Gross amount, total	73,268
Accumulated depreciation	$ (7,007)
Early Childhood Education | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	16
Initial cost to company, land & improvements	$ 10,474
Initial cost to company, building & improvements	14,986
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	21
Gross amount, land & improvements	10,474
Gross amount, building & improvements	15,007
Gross amount, total	25,481
Accumulated depreciation	$ (2,014)
Early Childhood Education | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,867
Initial cost to company, building & improvements	5,617
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	98
Gross amount, land & improvements	2,867
Gross amount, building & improvements	5,714
Gross amount, total	8,581
Accumulated depreciation	$ (239)
Early Childhood Education | Connecticut
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,423
Initial cost to company, building & improvements	7,360
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	2,404
Gross amount, land & improvements	3,423
Gross amount, building & improvements	9,764
Gross amount, total	13,187
Accumulated depreciation	$ (1,943)
Early Childhood Education | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 8,790
Initial cost to company, building & improvements	21,022
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	8,790
Gross amount, building & improvements	21,022
Gross amount, total	29,812
Accumulated depreciation	$ (3,385)
Early Childhood Education | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	9
Initial cost to company, land & improvements	$ 9,348
Initial cost to company, building & improvements	21,292
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,348
Gross amount, building & improvements	21,292
Gross amount, total	30,640
Accumulated depreciation	$ (3,323)
Early Childhood Education | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	12
Initial cost to company, land & improvements	$ 8,342
Initial cost to company, building & improvements	29,548
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	391
Gross amount, land & improvements	8,342
Gross amount, building & improvements	29,939
Gross amount, total	38,281
Accumulated depreciation	$ (2,075)
Early Childhood Education | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 636
Initial cost to company, building & improvements	2,199
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	636
Gross amount, building & improvements	2,199
Gross amount, total	2,835
Accumulated depreciation	$ (179)
Early Childhood Education | Kansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,056
Initial cost to company, building & improvements	4,914
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,056
Gross amount, building & improvements	4,914
Gross amount, total	6,970
Accumulated depreciation	$ (933)
Early Childhood Education | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 716
Initial cost to company, building & improvements	2,500
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	716
Gross amount, building & improvements	2,500
Gross amount, total	3,216
Accumulated depreciation	$ (292)
Early Childhood Education | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 3,200
Initial cost to company, building & improvements	2,423
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,200
Gross amount, building & improvements	2,423
Gross amount, total	5,623
Accumulated depreciation	$ (316)
Early Childhood Education | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 1,850
Initial cost to company, building & improvements	5,450
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,850
Gross amount, building & improvements	5,450
Gross amount, total	7,301
Accumulated depreciation	$ (657)
Early Childhood Education | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 5,157
Initial cost to company, building & improvements	7,591
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,157
Gross amount, building & improvements	7,591
Gross amount, total	12,748
Accumulated depreciation	$ (272)
Early Childhood Education | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,085
Initial cost to company, building & improvements	2,547
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	124
Gross amount, land & improvements	2,085
Gross amount, building & improvements	2,671
Gross amount, total	4,756
Accumulated depreciation	$ (599)
Early Childhood Education | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 4,239
Initial cost to company, building & improvements	14,583
Cost capitalized subsequent to acquisition, land & improvements	19
Cost capitalized subsequent to acquisition, building & improvements	81
Gross amount, land & improvements	4,258
Gross amount, building & improvements	14,664
Gross amount, total	18,922
Accumulated depreciation	$ (852)
Early Childhood Education | Nebraska
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 224
Initial cost to company, building & improvements	813
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	224
Gross amount, building & improvements	813
Gross amount, total	1,037
Accumulated depreciation	$ (31)
Early Childhood Education | Nevada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,480
Initial cost to company, building & improvements	3,451
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,480
Gross amount, building & improvements	3,451
Gross amount, total	5,930
Accumulated depreciation	$ (338)
Early Childhood Education | New Hampshire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 711
Initial cost to company, building & improvements	1,733
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	711
Gross amount, building & improvements	1,733
Gross amount, total	2,444
Accumulated depreciation	$ (9)
Early Childhood Education | New Jersey
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,249
Initial cost to company, building & improvements	3,439
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,249
Gross amount, building & improvements	3,439
Gross amount, total	4,687
Accumulated depreciation	$ (607)
Early Childhood Education | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 2,087
Initial cost to company, building & improvements	6,664
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,087
Gross amount, building & improvements	6,664
Gross amount, total	8,751
Accumulated depreciation	$ (77)
Early Childhood Education | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	22
Initial cost to company, land & improvements	$ 20,463
Initial cost to company, building & improvements	35,245
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	100
Gross amount, land & improvements	20,463
Gross amount, building & improvements	35,345
Gross amount, total	55,809
Accumulated depreciation	$ (2,789)
Early Childhood Education | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	30
Initial cost to company, land & improvements	$ 23,197
Initial cost to company, building & improvements	61,829
Cost capitalized subsequent to acquisition, land & improvements	31
Cost capitalized subsequent to acquisition, building & improvements	9,321
Gross amount, land & improvements	23,228
Gross amount, building & improvements	71,150
Gross amount, total	94,378
Accumulated depreciation	$ (5,888)
Early Childhood Education | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,327
Initial cost to company, building & improvements	3,860
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,327
Gross amount, building & improvements	3,860
Gross amount, total	5,186
Accumulated depreciation	$ (192)
Early Childhood Education | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	12
Initial cost to company, land & improvements	$ 10,670
Initial cost to company, building & improvements	28,267
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,670
Gross amount, building & improvements	28,267
Gross amount, total	38,937
Accumulated depreciation	$ (5,024)
Early Childhood Education | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,323
Initial cost to company, building & improvements	5,218
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,323
Gross amount, building & improvements	5,218
Gross amount, total	6,541
Accumulated depreciation	$ (14)
Early Childhood Education | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,943
Initial cost to company, building & improvements	2,970
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,943
Gross amount, building & improvements	2,970
Gross amount, total	4,913
Accumulated depreciation	$ (534)
Early Childhood Education | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 9,256
Initial cost to company, building & improvements	18,436
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	529
Gross amount, land & improvements	9,256
Gross amount, building & improvements	18,965
Gross amount, total	28,221
Accumulated depreciation	$ (2,517)
Early Childhood Education | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,799
Initial cost to company, building & improvements	6,385
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,799
Gross amount, building & improvements	6,385
Gross amount, total	10,184
Accumulated depreciation	$ (798)
Early Childhood Education | Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 2,235
Initial cost to company, building & improvements	5,154
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,235
Gross amount, building & improvements	5,154
Gross amount, total	7,389
Accumulated depreciation	$ (751)
Early Childhood Education | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 6,716
Initial cost to company, building & improvements	25,474
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,716
Gross amount, building & improvements	25,474
Gross amount, total	32,190
Accumulated depreciation	$ (2,523)
Entertainment | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 5,806
Initial cost to company, building & improvements	8,631
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,806
Gross amount, building & improvements	8,631
Gross amount, total	14,438
Accumulated depreciation	$ (1,465)
Entertainment | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 4,903
Initial cost to company, building & improvements	21,304
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,903
Gross amount, building & improvements	21,304
Gross amount, total	26,206
Accumulated depreciation	$ (369)
Entertainment | California
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,320
Initial cost to company, building & improvements	2,320
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,320
Gross amount, building & improvements	2,320
Gross amount, total	3,640
Accumulated depreciation	$ (525)
Entertainment | Connecticut
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 4,681
Initial cost to company, building & improvements	15,584
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,681
Gross amount, building & improvements	15,584
Gross amount, total	20,265
Accumulated depreciation	$ (1,025)
Entertainment | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 6,456
Initial cost to company, building & improvements	6,815
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	4,500
Gross amount, land & improvements	6,456
Gross amount, building & improvements	11,315
Gross amount, total	17,771
Accumulated depreciation	$ (1,581)
Entertainment | Idaho
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 886
Initial cost to company, building & improvements	2,768
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	886
Gross amount, building & improvements	2,768
Gross amount, total	3,654
Accumulated depreciation	$ (402)
Entertainment | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,560
Initial cost to company, building & improvements	6,120
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,560
Gross amount, building & improvements	6,120
Gross amount, total	8,680
Accumulated depreciation	$ (468)
Entertainment | Kansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 5,886
Initial cost to company, building & improvements	21,128
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,886
Gross amount, building & improvements	21,128
Gross amount, total	27,014
Accumulated depreciation	$ (1,073)
Entertainment | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,403
Initial cost to company, building & improvements	3,115
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,403
Gross amount, building & improvements	3,115
Gross amount, total	6,518
Accumulated depreciation	$ (628)
Entertainment | Maine
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,052
Initial cost to company, building & improvements	4,924
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,052
Gross amount, building & improvements	4,924
Gross amount, total	6,975
Accumulated depreciation	$ (352)
Entertainment | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 693
Initial cost to company, building & improvements	4,593
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	2,362
Gross amount, land & improvements	693
Gross amount, building & improvements	6,954
Gross amount, total	7,648
Accumulated depreciation	$ (1,295)
Entertainment | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	10
Initial cost to company, land & improvements	$ 10,877
Initial cost to company, building & improvements	20,806
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,877
Gross amount, building & improvements	20,806
Gross amount, total	31,683
Accumulated depreciation	$ (3,386)
Entertainment | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 20,925
Initial cost to company, building & improvements	13,731
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	20,925
Gross amount, building & improvements	13,731
Gross amount, total	34,655
Accumulated depreciation	$ (2,199)
Entertainment | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 11,099
Initial cost to company, building & improvements	21,176
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	11,099
Gross amount, building & improvements	21,176
Gross amount, total	32,275
Accumulated depreciation	$ (3,123)
Entertainment | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 3,073
Initial cost to company, building & improvements	9,673
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,073
Gross amount, building & improvements	9,673
Gross amount, total	12,747
Accumulated depreciation	$ (530)
Entertainment | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 823
Initial cost to company, building & improvements	2,028
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	823
Gross amount, building & improvements	2,028
Gross amount, total	2,850
Accumulated depreciation	$ (378)
Entertainment | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,156
Initial cost to company, building & improvements	1,476
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,156
Gross amount, building & improvements	1,476
Gross amount, total	3,631
Accumulated depreciation	$ (3)
Entertainment | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 18,026
Initial cost to company, building & improvements	1,873
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	18,026
Gross amount, building & improvements	1,873
Gross amount, total	19,898
Accumulated depreciation	$ (462)
Entertainment | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 19,439
Initial cost to company, building & improvements	44,160
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	19,439
Gross amount, building & improvements	44,160
Gross amount, total	63,599
Accumulated depreciation	$ (1,625)
Entertainment | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 4,821
Initial cost to company, building & improvements	7,264
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,821
Gross amount, building & improvements	7,264
Gross amount, total	12,085
Accumulated depreciation	$ (205)
Equipment Rental and Sales | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 5,499
Initial cost to company, building & improvements	6,985
Cost capitalized subsequent to acquisition, land & improvements	12
Cost capitalized subsequent to acquisition, building & improvements	864
Gross amount, land & improvements	5,510
Gross amount, building & improvements	7,849
Gross amount, total	13,360
Accumulated depreciation	$ (442)
Equipment Rental and Sales | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,734
Initial cost to company, building & improvements	544
Cost capitalized subsequent to acquisition, land & improvements	246
Cost capitalized subsequent to acquisition, building & improvements	1,245
Gross amount, land & improvements	2,980
Gross amount, building & improvements	1,788
Gross amount, total	4,769
Accumulated depreciation	$ (169)
Equipment Rental and Sales | California
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,467
Initial cost to company, building & improvements	2,429
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,467
Gross amount, building & improvements	2,429
Gross amount, total	4,896
Accumulated depreciation	$ (50)
Equipment Rental and Sales | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 6,120
Initial cost to company, building & improvements	3,825
Cost capitalized subsequent to acquisition, land & improvements	5
Cost capitalized subsequent to acquisition, building & improvements	1,021
Gross amount, land & improvements	6,124
Gross amount, building & improvements	4,846
Gross amount, total	10,970
Accumulated depreciation	$ (753)
Equipment Rental and Sales | Connecticut
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,891
Initial cost to company, building & improvements	4,222
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,891
Gross amount, building & improvements	4,222
Gross amount, total	7,113
Accumulated depreciation	$ (181)
Equipment Rental and Sales | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 9,972
Initial cost to company, building & improvements	5,557
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	3,526
Gross amount, land & improvements	9,972
Gross amount, building & improvements	9,083
Gross amount, total	19,055
Accumulated depreciation	$ (794)
Equipment Rental and Sales | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 6,704
Initial cost to company, building & improvements	4,891
Cost capitalized subsequent to acquisition, land & improvements	236
Cost capitalized subsequent to acquisition, building & improvements	3,176
Gross amount, land & improvements	6,940
Gross amount, building & improvements	8,067
Gross amount, total	15,007
Accumulated depreciation	$ (948)
Equipment Rental and Sales | Idaho
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,796
Initial cost to company, building & improvements	1,265
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,796
Gross amount, building & improvements	1,265
Gross amount, total	3,061
Accumulated depreciation	$ (53)
Equipment Rental and Sales | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,006
Initial cost to company, building & improvements	227
Cost capitalized subsequent to acquisition, land & improvements	16
Cost capitalized subsequent to acquisition, building & improvements	1,164
Gross amount, land & improvements	1,022
Gross amount, building & improvements	1,390
Gross amount, total	2,412
Accumulated depreciation	$ (235)
Equipment Rental and Sales | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,756
Initial cost to company, building & improvements	2,904
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,756
Gross amount, building & improvements	2,904
Gross amount, total	4,661
Accumulated depreciation	$ (322)
Equipment Rental and Sales | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 6,086
Initial cost to company, building & improvements	9,037
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,331
Gross amount, land & improvements	6,086
Gross amount, building & improvements	10,368
Gross amount, total	16,454
Accumulated depreciation	$ (1,276)
Equipment Rental and Sales | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 5,538
Initial cost to company, building & improvements	6,703
Cost capitalized subsequent to acquisition, land & improvements	21
Cost capitalized subsequent to acquisition, building & improvements	1,536
Gross amount, land & improvements	5,558
Gross amount, building & improvements	8,238
Gross amount, total	13,797
Accumulated depreciation	$ (870)
Equipment Rental and Sales | New Hampshire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 4,991
Initial cost to company, building & improvements	1,859
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	982
Gross amount, land & improvements	4,991
Gross amount, building & improvements	2,841
Gross amount, total	7,832
Accumulated depreciation	$ (215)
Equipment Rental and Sales | New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,686
Initial cost to company, building & improvements	286
Cost capitalized subsequent to acquisition, land & improvements	25
Cost capitalized subsequent to acquisition, building & improvements	1,862
Gross amount, land & improvements	1,711
Gross amount, building & improvements	2,148
Gross amount, total	3,859
Accumulated depreciation	$ (313)
Equipment Rental and Sales | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 7,131
Initial cost to company, building & improvements	3,366
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	7,131
Gross amount, building & improvements	3,366
Gross amount, total	10,497
Accumulated depreciation	$ (495)
Equipment Rental and Sales | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,488
Initial cost to company, building & improvements	649
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,451
Gross amount, land & improvements	1,488
Gross amount, building & improvements	2,100
Gross amount, total	3,589
Accumulated depreciation	$ (6)
Equipment Rental and Sales | North Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 851
Initial cost to company, building & improvements	1,567
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	330
Gross amount, land & improvements	851
Gross amount, building & improvements	1,897
Gross amount, total	2,748
Accumulated depreciation	$ (100)
Equipment Rental and Sales | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,268
Initial cost to company, building & improvements	2,257
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,268
Gross amount, building & improvements	2,257
Gross amount, total	4,525
Accumulated depreciation	$ (237)
Equipment Rental and Sales | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 751
Initial cost to company, building & improvements	1,678
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	751
Gross amount, building & improvements	1,678
Gross amount, total	2,429
Accumulated depreciation	$ (284)
Equipment Rental and Sales | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,777
Initial cost to company, building & improvements	582
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	616
Gross amount, land & improvements	1,777
Gross amount, building & improvements	1,198
Gross amount, total	2,975
Accumulated depreciation	$ (8)
Equipment Rental and Sales | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,519
Initial cost to company, building & improvements	3,713
Cost capitalized subsequent to acquisition, land & improvements	816
Cost capitalized subsequent to acquisition, building & improvements	1,734
Gross amount, land & improvements	4,335
Gross amount, building & improvements	5,448
Gross amount, total	9,783
Accumulated depreciation	$ (657)
Equipment Rental and Sales | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	15
Initial cost to company, land & improvements	$ 19,681
Initial cost to company, building & improvements	23,217
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	2,937
Gross amount, land & improvements	19,681
Gross amount, building & improvements	26,154
Gross amount, total	45,835
Accumulated depreciation	$ (1,333)
Equipment Rental and Sales | Utah
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,731
Initial cost to company, building & improvements	2,196
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,346
Gross amount, land & improvements	1,731
Gross amount, building & improvements	3,542
Gross amount, total	5,273
Accumulated depreciation	$ (472)
Equipment Rental and Sales | Vermont
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,809
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,809
Gross amount, building & improvements	0
Gross amount, total	1,809
Accumulated depreciation	$ 0
Equipment Rental and Sales | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,076
Initial cost to company, building & improvements	199
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	581
Gross amount, land & improvements	2,076
Gross amount, building & improvements	780
Gross amount, total	2,856
Accumulated depreciation	$ (6)
Equipment Rental and Sales | Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 5,946
Initial cost to company, building & improvements	2,727
Cost capitalized subsequent to acquisition, land & improvements	492
Cost capitalized subsequent to acquisition, building & improvements	1,563
Gross amount, land & improvements	6,438
Gross amount, building & improvements	4,289
Gross amount, total	10,727
Accumulated depreciation	$ (460)
Grocery | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 5,704
Initial cost to company, building & improvements	12,942
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,425
Gross amount, land & improvements	5,704
Gross amount, building & improvements	14,367
Gross amount, total	20,071
Accumulated depreciation	$ (1,516)
Grocery | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,524
Initial cost to company, building & improvements	8,059
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,524
Gross amount, building & improvements	8,059
Gross amount, total	9,583
Accumulated depreciation	$ (161)
Grocery | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,224
Initial cost to company, building & improvements	6,189
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,224
Gross amount, building & improvements	6,189
Gross amount, total	7,412
Accumulated depreciation	$ (557)
Grocery | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	10
Initial cost to company, land & improvements	$ 5,661
Initial cost to company, building & improvements	16,938
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,661
Gross amount, building & improvements	16,938
Gross amount, total	22,599
Accumulated depreciation	$ (2,181)
Grocery | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 762
Initial cost to company, building & improvements	1,300
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	762
Gross amount, building & improvements	1,300
Gross amount, total	2,062
Accumulated depreciation	$ (264)
Grocery | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,606
Initial cost to company, building & improvements	8,726
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,606
Gross amount, building & improvements	8,726
Gross amount, total	10,332
Accumulated depreciation	$ (1,141)
Grocery | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 20,724
Initial cost to company, building & improvements	80,848
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	20,724
Gross amount, building & improvements	80,848
Gross amount, total	101,573
Accumulated depreciation	$ (4,969)
Health and Fitness | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,102
Initial cost to company, building & improvements	2,412
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,102
Gross amount, building & improvements	2,412
Gross amount, total	3,515
Accumulated depreciation	$ (517)
Health and Fitness | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 4,367
Initial cost to company, building & improvements	4,264
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,367
Gross amount, building & improvements	4,264
Gross amount, total	8,632
Accumulated depreciation	$ (471)
Health and Fitness | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,484
Initial cost to company, building & improvements	4,491
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,484
Gross amount, building & improvements	4,491
Gross amount, total	5,975
Accumulated depreciation	$ (832)
Health and Fitness | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 5,291
Initial cost to company, building & improvements	5,975
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	2,572
Gross amount, land & improvements	5,291
Gross amount, building & improvements	8,546
Gross amount, total	13,837
Accumulated depreciation	$ (715)
Health and Fitness | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 5,751
Initial cost to company, building & improvements	6,242
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,751
Gross amount, building & improvements	6,242
Gross amount, total	11,993
Accumulated depreciation	$ (631)
Health and Fitness | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,133
Initial cost to company, building & improvements	2,226
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	2,150
Gross amount, land & improvements	1,133
Gross amount, building & improvements	4,376
Gross amount, total	5,510
Accumulated depreciation	$ (546)
Health and Fitness | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,668
Initial cost to company, building & improvements	3,268
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,668
Gross amount, building & improvements	3,268
Gross amount, total	4,936
Accumulated depreciation	$ (61)
Health and Fitness | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,013
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,013
Gross amount, building & improvements	0
Gross amount, total	2,013
Accumulated depreciation	$ 0
Health and Fitness | Kansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 954
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	954
Gross amount, building & improvements	0
Gross amount, total	954
Accumulated depreciation	$ 0
Health and Fitness | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 868
Initial cost to company, building & improvements	2,186
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	868
Gross amount, building & improvements	2,186
Gross amount, total	3,053
Accumulated depreciation	$ (437)
Health and Fitness | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 10,541
Initial cost to company, building & improvements	29,129
Cost capitalized subsequent to acquisition, land & improvements	282
Cost capitalized subsequent to acquisition, building & improvements	3,605
Gross amount, land & improvements	10,822
Gross amount, building & improvements	32,735
Gross amount, total	43,557
Accumulated depreciation	$ (4,353)
Health and Fitness | Nevada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 491
Initial cost to company, building & improvements	2,543
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	491
Gross amount, building & improvements	2,543
Gross amount, total	3,034
Accumulated depreciation	$ (355)
Health and Fitness | New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 938
Initial cost to company, building & improvements	1,503
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	938
Gross amount, building & improvements	1,503
Gross amount, total	2,441
Accumulated depreciation	$ (346)
Health and Fitness | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 912
Initial cost to company, building & improvements	883
Cost capitalized subsequent to acquisition, land & improvements	761
Cost capitalized subsequent to acquisition, building & improvements	1,875
Gross amount, land & improvements	1,674
Gross amount, building & improvements	2,759
Gross amount, total	4,432
Accumulated depreciation	$ (276)
Health and Fitness | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 8,211
Initial cost to company, building & improvements	12,420
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	559
Gross amount, land & improvements	8,211
Gross amount, building & improvements	12,980
Gross amount, total	21,191
Accumulated depreciation	$ (1,328)
Health and Fitness | Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,024
Initial cost to company, building & improvements	2,468
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,024
Gross amount, building & improvements	2,468
Gross amount, total	4,492
Accumulated depreciation	$ (529)
Health and Fitness | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 4,516
Initial cost to company, building & improvements	9,463
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	330
Gross amount, land & improvements	4,516
Gross amount, building & improvements	9,793
Gross amount, total	14,309
Accumulated depreciation	$ (1,554)
Health and Fitness | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 13,269
Initial cost to company, building & improvements	20,039
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	144
Gross amount, land & improvements	13,269
Gross amount, building & improvements	20,183
Gross amount, total	33,452
Accumulated depreciation	$ (943)
Health and Fitness | Utah
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,937
Initial cost to company, building & improvements	4,209
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,937
Gross amount, building & improvements	4,209
Gross amount, total	6,146
Accumulated depreciation	$ (844)
Home Furnishings | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,369
Initial cost to company, building & improvements	24,427
Cost capitalized subsequent to acquisition, land & improvements	69
Cost capitalized subsequent to acquisition, building & improvements	3,034
Gross amount, land & improvements	3,438
Gross amount, building & improvements	27,461
Gross amount, total	30,899
Accumulated depreciation	$ (5,129)
Home Furnishings | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 273
Initial cost to company, building & improvements	4,683
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	273
Gross amount, building & improvements	4,683
Gross amount, total	4,956
Accumulated depreciation	$ (640)
Industrial | Connecticut
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 6,173
Initial cost to company, building & improvements	19,694
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,173
Gross amount, building & improvements	19,694
Gross amount, total	25,867
Accumulated depreciation	$ (633)
Industrial | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 9,388
Initial cost to company, building & improvements	1,955
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,388
Gross amount, building & improvements	1,955
Gross amount, total	11,344
Accumulated depreciation	$ (62)
Industrial | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,958
Initial cost to company, building & improvements	1,744
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,958
Gross amount, building & improvements	1,744
Gross amount, total	5,702
Accumulated depreciation	$ (114)
Industrial | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 1,789
Initial cost to company, building & improvements	6,261
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,789
Gross amount, building & improvements	6,261
Gross amount, total	8,050
Accumulated depreciation	$ (247)
Industrial | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 734
Initial cost to company, building & improvements	3,261
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	734
Gross amount, building & improvements	3,261
Gross amount, total	3,995
Accumulated depreciation	$ (121)
Industrial | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 490
Initial cost to company, building & improvements	761
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,783
Gross amount, land & improvements	490
Gross amount, building & improvements	2,544
Gross amount, total	3,034
Accumulated depreciation	$ (83)
Industrial | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 272
Initial cost to company, building & improvements	998
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	272
Gross amount, building & improvements	998
Gross amount, total	1,270
Accumulated depreciation	$ (28)
Industrial | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,198
Initial cost to company, building & improvements	3,351
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,198
Gross amount, building & improvements	3,351
Gross amount, total	5,549
Accumulated depreciation	$ (201)
Industrial | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 909
Initial cost to company, building & improvements	746
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	909
Gross amount, building & improvements	746
Gross amount, total	1,655
Accumulated depreciation	$ (107)
Industrial | North Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,354
Initial cost to company, building & improvements	2,860
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,354
Gross amount, building & improvements	2,860
Gross amount, total	4,214
Accumulated depreciation	$ (52)
Industrial | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 902
Initial cost to company, building & improvements	2,330
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	902
Gross amount, building & improvements	2,330
Gross amount, total	3,231
Accumulated depreciation	$ (102)
Industrial | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 922
Initial cost to company, building & improvements	5,548
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	922
Gross amount, building & improvements	5,548
Gross amount, total	6,471
Accumulated depreciation	$ (102)
Industrial | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 678
Initial cost to company, building & improvements	2,922
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	678
Gross amount, building & improvements	2,922
Gross amount, total	3,600
Accumulated depreciation	$ (167)
Industrial | South Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,250
Initial cost to company, building & improvements	2,950
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,250
Gross amount, building & improvements	2,950
Gross amount, total	4,200
Accumulated depreciation	$ (202)
Industrial | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 861
Initial cost to company, building & improvements	2,139
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	861
Gross amount, building & improvements	2,139
Gross amount, total	3,001
Accumulated depreciation	$ (69)
Industrial | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 5,350
Initial cost to company, building & improvements	6,679
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,350
Gross amount, building & improvements	6,679
Gross amount, total	12,029
Accumulated depreciation	$ (1,013)
Industrial | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 679
Initial cost to company, building & improvements	3,839
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	679
Gross amount, building & improvements	3,839
Gross amount, total	4,518
Accumulated depreciation	$ (287)
Industrial | Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 4,383
Initial cost to company, building & improvements	110
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,383
Gross amount, building & improvements	110
Gross amount, total	4,493
Accumulated depreciation	$ (6)
Medical / Dental | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 1,623
Initial cost to company, building & improvements	7,508
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,623
Gross amount, building & improvements	7,508
Gross amount, total	9,131
Accumulated depreciation	$ (1,270)
Medical / Dental | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,770
Initial cost to company, building & improvements	2,635
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,913
Gross amount, land & improvements	1,770
Gross amount, building & improvements	4,549
Gross amount, total	6,319
Accumulated depreciation	$ (369)
Medical / Dental | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	16
Initial cost to company, land & improvements	$ 4,013
Initial cost to company, building & improvements	12,692
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	497
Gross amount, land & improvements	4,013
Gross amount, building & improvements	13,189
Gross amount, total	17,202
Accumulated depreciation	$ (1,955)
Medical / Dental | California
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,867
Initial cost to company, building & improvements	4,276
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,867
Gross amount, building & improvements	4,276
Gross amount, total	6,142
Accumulated depreciation	$ (430)
Medical / Dental | Connecticut
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,889
Initial cost to company, building & improvements	1,675
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,889
Gross amount, building & improvements	1,675
Gross amount, total	3,564
Accumulated depreciation	$ (241)
Medical / Dental | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	13
Initial cost to company, land & improvements	$ 10,524
Initial cost to company, building & improvements	33,494
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	200
Gross amount, land & improvements	10,524
Gross amount, building & improvements	33,694
Gross amount, total	44,218
Accumulated depreciation	$ (2,542)
Medical / Dental | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 9,437
Initial cost to company, building & improvements	17,853
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,437
Gross amount, building & improvements	17,853
Gross amount, total	27,290
Accumulated depreciation	$ (1,138)
Medical / Dental | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 4,816
Initial cost to company, building & improvements	14,474
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,816
Gross amount, building & improvements	14,474
Gross amount, total	19,290
Accumulated depreciation	$ (1,321)
Medical / Dental | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 5,985
Initial cost to company, building & improvements	7,951
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,985
Gross amount, building & improvements	7,951
Gross amount, total	13,936
Accumulated depreciation	$ (1,197)
Medical / Dental | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,252
Initial cost to company, building & improvements	2,085
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,252
Gross amount, building & improvements	2,085
Gross amount, total	3,337
Accumulated depreciation	$ (79)
Medical / Dental | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 199
Initial cost to company, building & improvements	474
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	199
Gross amount, building & improvements	474
Gross amount, total	673
Accumulated depreciation	$ (111)
Medical / Dental | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 853
Initial cost to company, building & improvements	2,784
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	853
Gross amount, building & improvements	2,784
Gross amount, total	3,637
Accumulated depreciation	$ (329)
Medical / Dental | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,401
Initial cost to company, building & improvements	9,443
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,401
Gross amount, building & improvements	9,443
Gross amount, total	11,844
Accumulated depreciation	$ (646)
Medical / Dental | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 1,302
Initial cost to company, building & improvements	13,437
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,302
Gross amount, building & improvements	13,437
Gross amount, total	14,739
Accumulated depreciation	$ (1,437)
Medical / Dental | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 3,543
Initial cost to company, building & improvements	9,169
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	775
Gross amount, land & improvements	3,543
Gross amount, building & improvements	9,944
Gross amount, total	13,487
Accumulated depreciation	$ (987)
Medical / Dental | New Hampshire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 5,304
Initial cost to company, building & improvements	18,868
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,304
Gross amount, building & improvements	18,868
Gross amount, total	24,172
Accumulated depreciation	$ (815)
Medical / Dental | New Jersey
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,731
Initial cost to company, building & improvements	6,560
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,731
Gross amount, building & improvements	6,560
Gross amount, total	8,291
Accumulated depreciation	$ (32)
Medical / Dental | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 1,032
Initial cost to company, building & improvements	3,736
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,032
Gross amount, building & improvements	3,736
Gross amount, total	4,768
Accumulated depreciation	$ (371)
Medical / Dental | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 2,527
Initial cost to company, building & improvements	6,920
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,527
Gross amount, building & improvements	6,920
Gross amount, total	9,446
Accumulated depreciation	$ (591)
Medical / Dental | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	21
Initial cost to company, land & improvements	$ 10,332
Initial cost to company, building & improvements	28,725
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,332
Gross amount, building & improvements	28,725
Gross amount, total	39,057
Accumulated depreciation	$ (2,526)
Medical / Dental | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 1,472
Initial cost to company, building & improvements	6,767
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,472
Gross amount, building & improvements	6,767
Gross amount, total	8,239
Accumulated depreciation	$ (554)
Medical / Dental | Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,457
Initial cost to company, building & improvements	1,230
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,457
Gross amount, building & improvements	1,230
Gross amount, total	2,687
Accumulated depreciation	$ (177)
Medical / Dental | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 505
Initial cost to company, building & improvements	3,641
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	505
Gross amount, building & improvements	3,641
Gross amount, total	4,146
Accumulated depreciation	$ (212)
Medical / Dental | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 4,836
Initial cost to company, building & improvements	10,564
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,836
Gross amount, building & improvements	10,564
Gross amount, total	15,400
Accumulated depreciation	$ (1,190)
Medical / Dental | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	49
Initial cost to company, land & improvements	$ 31,618
Initial cost to company, building & improvements	111,148
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,601
Gross amount, land & improvements	31,618
Gross amount, building & improvements	112,750
Gross amount, total	144,368
Accumulated depreciation	$ (14,878)
Medical / Dental | Vermont
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 357
Initial cost to company, building & improvements	916
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	357
Gross amount, building & improvements	916
Gross amount, total	1,273
Accumulated depreciation	$ (69)
Medical / Dental | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,493
Initial cost to company, building & improvements	2,800
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,493
Gross amount, building & improvements	2,800
Gross amount, total	4,293
Accumulated depreciation	$ (266)
Medical / Dental | Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 627
Initial cost to company, building & improvements	868
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	627
Gross amount, building & improvements	868
Gross amount, total	1,496
Accumulated depreciation	$ (155)
Medical / Dental | Wyoming
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 620
Initial cost to company, building & improvements	2,550
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	620
Gross amount, building & improvements	2,550
Gross amount, total	3,170
Accumulated depreciation	$ (528)
Movie Theatres | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,011
Initial cost to company, building & improvements	10,643
Cost capitalized subsequent to acquisition, land & improvements	169
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,180
Gross amount, building & improvements	10,643
Gross amount, total	13,823
Accumulated depreciation	$ (2,340)
Movie Theatres | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,826
Initial cost to company, building & improvements	2,798
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,826
Gross amount, building & improvements	2,798
Gross amount, total	4,624
Accumulated depreciation	$ (573)
Movie Theatres | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,126
Initial cost to company, building & improvements	10,097
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,126
Gross amount, building & improvements	10,097
Gross amount, total	12,223
Accumulated depreciation	$ (1,740)
Movie Theatres | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,465
Initial cost to company, building & improvements	7,081
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,465
Gross amount, building & improvements	7,081
Gross amount, total	8,546
Accumulated depreciation	$ (1,295)
Movie Theatres | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 3,049
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,049
Gross amount, building & improvements	0
Gross amount, total	3,049
Accumulated depreciation	$ 0
Movie Theatres | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 3,159
Initial cost to company, building & improvements	3,755
Cost capitalized subsequent to acquisition, land & improvements	164
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,323
Gross amount, building & improvements	3,755
Gross amount, total	7,078
Accumulated depreciation	$ (937)
Other Services | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 312
Initial cost to company, building & improvements	176
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	312
Gross amount, building & improvements	176
Gross amount, total	488
Accumulated depreciation	$ (75)
Other Services | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 370
Initial cost to company, building & improvements	434
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	370
Gross amount, building & improvements	434
Gross amount, total	804
Accumulated depreciation	$ (120)
Other Services | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,187
Initial cost to company, building & improvements	3,344
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,187
Gross amount, building & improvements	3,344
Gross amount, total	4,531
Accumulated depreciation	$ (303)
Other Services | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 2,293
Initial cost to company, building & improvements	7,204
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,293
Gross amount, building & improvements	7,204
Gross amount, total	9,497
Accumulated depreciation	$ (922)
Other Services | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,503
Initial cost to company, building & improvements	4,613
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,503
Gross amount, building & improvements	4,613
Gross amount, total	6,115
Accumulated depreciation	$ (549)
Other Services | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 714
Initial cost to company, building & improvements	553
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	714
Gross amount, building & improvements	553
Gross amount, total	1,268
Accumulated depreciation	$ (27)
Other Services | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 713
Initial cost to company, building & improvements	1,942
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	713
Gross amount, building & improvements	1,942
Gross amount, total	2,655
Accumulated depreciation	$ (391)
Other Services | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 246
Initial cost to company, building & improvements	1,056
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	246
Gross amount, building & improvements	1,056
Gross amount, total	1,301
Accumulated depreciation	$ (11)
Other Services | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,257
Initial cost to company, building & improvements	2,073
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,257
Gross amount, building & improvements	2,073
Gross amount, total	4,330
Accumulated depreciation	$ (268)
Other Services | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,014
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,014
Gross amount, building & improvements	0
Gross amount, total	2,014
Accumulated depreciation	$ 0
Other Services | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,056
Initial cost to company, building & improvements	5,810
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,056
Gross amount, building & improvements	5,810
Gross amount, total	8,866
Accumulated depreciation	$ (234)
Other Services | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	14
Initial cost to company, land & improvements	$ 10,757
Initial cost to company, building & improvements	19,485
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,757
Gross amount, building & improvements	19,485
Gross amount, total	30,242
Accumulated depreciation	$ (2,317)
Other Services | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 15,090
Initial cost to company, building & improvements	17,940
Cost capitalized subsequent to acquisition, land & improvements	729
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	15,819
Gross amount, building & improvements	17,940
Gross amount, total	33,759
Accumulated depreciation	$ (1,883)
Other Services | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,259
Initial cost to company, building & improvements	1,786
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,259
Gross amount, building & improvements	1,786
Gross amount, total	3,045
Accumulated depreciation	$ (391)
Other Services | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,010
Initial cost to company, building & improvements	1,781
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,010
Gross amount, building & improvements	1,781
Gross amount, total	2,792
Accumulated depreciation	$ (5)
Pet Care Services | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,359
Initial cost to company, building & improvements	4,730
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,359
Gross amount, building & improvements	4,730
Gross amount, total	7,089
Accumulated depreciation	$ (92)
Pet Care Services | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,386
Initial cost to company, building & improvements	2,589
Cost capitalized subsequent to acquisition, land & improvements	13
Cost capitalized subsequent to acquisition, building & improvements	1,575
Gross amount, land & improvements	2,399
Gross amount, building & improvements	4,164
Gross amount, total	6,563
Accumulated depreciation	$ (565)
Pet Care Services | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,741
Initial cost to company, building & improvements	10,657
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,741
Gross amount, building & improvements	10,657
Gross amount, total	13,398
Accumulated depreciation	$ (467)
Pet Care Services | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,933
Initial cost to company, building & improvements	4,718
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,933
Gross amount, building & improvements	4,718
Gross amount, total	7,651
Accumulated depreciation	$ (872)
Pet Care Services | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,335
Initial cost to company, building & improvements	3,367
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,335
Gross amount, building & improvements	3,367
Gross amount, total	6,702
Accumulated depreciation	$ (353)
Pet Care Services | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,475
Initial cost to company, building & improvements	1,504
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,475
Gross amount, building & improvements	1,504
Gross amount, total	2,979
Accumulated depreciation	$ (365)
Pet Care Services | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 1,676
Initial cost to company, building & improvements	5,148
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,676
Gross amount, building & improvements	5,148
Gross amount, total	6,824
Accumulated depreciation	$ (872)
Pet Care Services | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 485
Initial cost to company, building & improvements	701
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	183
Gross amount, land & improvements	485
Gross amount, building & improvements	884
Gross amount, total	1,369
Accumulated depreciation	$ (127)
Pet Care Services | Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 586
Initial cost to company, building & improvements	1,881
Cost capitalized subsequent to acquisition, land & improvements	16
Cost capitalized subsequent to acquisition, building & improvements	34
Gross amount, land & improvements	602
Gross amount, building & improvements	1,915
Gross amount, total	2,516
Accumulated depreciation	$ (199)
Pet Care Services | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 537
Initial cost to company, building & improvements	752
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	537
Gross amount, building & improvements	752
Gross amount, total	1,289
Accumulated depreciation	$ (127)
Pet Care Services | Nebraska
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 381
Initial cost to company, building & improvements	332
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	381
Gross amount, building & improvements	332
Gross amount, total	713
Accumulated depreciation	$ (101)
Pet Care Services | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 327
Initial cost to company, building & improvements	697
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	327
Gross amount, building & improvements	697
Gross amount, total	1,023
Accumulated depreciation	$ (23)
Pet Care Services | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,561
Initial cost to company, building & improvements	5,909
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,561
Gross amount, building & improvements	5,909
Gross amount, total	7,470
Accumulated depreciation	$ (501)
Pet Care Services | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 225
Initial cost to company, building & improvements	283
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	225
Gross amount, building & improvements	283
Gross amount, total	508
Accumulated depreciation	$ (86)
Pet Care Services | Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 192
Initial cost to company, building & improvements	324
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	192
Gross amount, building & improvements	324
Gross amount, total	516
Accumulated depreciation	$ (46)
Pet Care Services | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,808
Initial cost to company, building & improvements	1,017
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,808
Gross amount, building & improvements	1,017
Gross amount, total	2,825
Accumulated depreciation	$ (163)
Pet Care Services | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,782
Initial cost to company, building & improvements	7,093
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,782
Gross amount, building & improvements	7,093
Gross amount, total	9,875
Accumulated depreciation	$ (184)
Restaurants - Casual Dining | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 2,954
Initial cost to company, building & improvements	7,305
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,954
Gross amount, building & improvements	7,305
Gross amount, total	10,259
Accumulated depreciation	$ (1,651)
Restaurants - Casual Dining | Arizona
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,118
Initial cost to company, building & improvements	3,865
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,118
Gross amount, building & improvements	3,865
Gross amount, total	5,983
Accumulated depreciation	$ (73)
Restaurants - Casual Dining | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,392
Initial cost to company, building & improvements	1,929
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,392
Gross amount, building & improvements	1,929
Gross amount, total	3,322
Accumulated depreciation	$ (29)
Restaurants - Casual Dining | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,593
Initial cost to company, building & improvements	3,400
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,593
Gross amount, building & improvements	3,400
Gross amount, total	4,994
Accumulated depreciation	$ (714)
Restaurants - Casual Dining | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 5,497
Initial cost to company, building & improvements	11,008
Cost capitalized subsequent to acquisition, land & improvements	55
Cost capitalized subsequent to acquisition, building & improvements	29
Gross amount, land & improvements	5,552
Gross amount, building & improvements	11,037
Gross amount, total	16,589
Accumulated depreciation	$ (2,768)
Restaurants - Casual Dining | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 5,991
Initial cost to company, building & improvements	8,193
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	600
Gross amount, land & improvements	5,991
Gross amount, building & improvements	8,793
Gross amount, total	14,784
Accumulated depreciation	$ (1,689)
Restaurants - Casual Dining | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 4,329
Initial cost to company, building & improvements	3,456
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	18
Gross amount, land & improvements	4,329
Gross amount, building & improvements	3,473
Gross amount, total	7,803
Accumulated depreciation	$ (363)
Restaurants - Casual Dining | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 2,387
Initial cost to company, building & improvements	1,827
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,387
Gross amount, building & improvements	1,827
Gross amount, total	4,214
Accumulated depreciation	$ (29)
Restaurants - Casual Dining | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,078
Initial cost to company, building & improvements	6,311
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,078
Gross amount, building & improvements	6,311
Gross amount, total	8,389
Accumulated depreciation	$ (783)
Restaurants - Casual Dining | Kansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 3,045
Initial cost to company, building & improvements	1,382
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,045
Gross amount, building & improvements	1,382
Gross amount, total	4,427
Accumulated depreciation	$ (169)
Restaurants - Casual Dining | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,798
Initial cost to company, building & improvements	3,643
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,798
Gross amount, building & improvements	3,643
Gross amount, total	5,441
Accumulated depreciation	$ (337)
Restaurants - Casual Dining | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,156
Initial cost to company, building & improvements	3,330
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,156
Gross amount, building & improvements	3,330
Gross amount, total	5,486
Accumulated depreciation	$ (831)
Restaurants - Casual Dining | Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 4,440
Initial cost to company, building & improvements	4,991
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,440
Gross amount, building & improvements	4,991
Gross amount, total	9,431
Accumulated depreciation	$ (581)
Restaurants - Casual Dining | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	10
Initial cost to company, land & improvements	$ 12,982
Initial cost to company, building & improvements	14,943
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	12,982
Gross amount, building & improvements	14,943
Gross amount, total	27,926
Accumulated depreciation	$ (1,501)
Restaurants - Casual Dining | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 6,671
Initial cost to company, building & improvements	15,576
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,671
Gross amount, building & improvements	15,576
Gross amount, total	22,247
Accumulated depreciation	$ (2,171)
Restaurants - Casual Dining | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 7,921
Initial cost to company, building & improvements	14,090
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	7,921
Gross amount, building & improvements	14,090
Gross amount, total	22,010
Accumulated depreciation	$ (529)
Restaurants - Casual Dining | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 926
Initial cost to company, building & improvements	624
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	926
Gross amount, building & improvements	624
Gross amount, total	1,550
Accumulated depreciation	$ (158)
Restaurants - Casual Dining | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 9,052
Initial cost to company, building & improvements	13,838
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,052
Gross amount, building & improvements	13,838
Gross amount, total	22,891
Accumulated depreciation	$ (690)
Restaurants - Casual Dining | New Hampshire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,978
Initial cost to company, building & improvements	2,127
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,978
Gross amount, building & improvements	2,127
Gross amount, total	4,105
Accumulated depreciation	$ (150)
Restaurants - Casual Dining | New Jersey
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 9,625
Initial cost to company, building & improvements	28,327
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	9,625
Gross amount, building & improvements	28,327
Gross amount, total	37,952
Accumulated depreciation	$ (1,154)
Restaurants - Casual Dining | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 594
Initial cost to company, building & improvements	2,391
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	594
Gross amount, building & improvements	2,391
Gross amount, total	2,985
Accumulated depreciation	$ (38)
Restaurants - Casual Dining | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 8,882
Initial cost to company, building & improvements	15,086
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	8,882
Gross amount, building & improvements	15,086
Gross amount, total	23,968
Accumulated depreciation	$ (878)
Restaurants - Casual Dining | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 2,039
Initial cost to company, building & improvements	0
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,039
Gross amount, building & improvements	0
Gross amount, total	2,039
Accumulated depreciation	$ 0
Restaurants - Casual Dining | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 6,632
Initial cost to company, building & improvements	11,046
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	6,632
Gross amount, building & improvements	11,046
Gross amount, total	17,678
Accumulated depreciation	$ (403)
Restaurants - Casual Dining | Rhode Island
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 830
Initial cost to company, building & improvements	1,171
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	830
Gross amount, building & improvements	1,171
Gross amount, total	2,001
Accumulated depreciation	$ (119)
Restaurants - Casual Dining | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 447
Initial cost to company, building & improvements	292
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	29
Gross amount, land & improvements	447
Gross amount, building & improvements	321
Gross amount, total	768
Accumulated depreciation	$ (107)
Restaurants - Casual Dining | South Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,922
Initial cost to company, building & improvements	2,475
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,922
Gross amount, building & improvements	2,475
Gross amount, total	4,397
Accumulated depreciation	$ (192)
Restaurants - Casual Dining | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 683
Initial cost to company, building & improvements	737
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	683
Gross amount, building & improvements	737
Gross amount, total	1,420
Accumulated depreciation	$ (162)
Restaurants - Casual Dining | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	8
Initial cost to company, land & improvements	$ 10,874
Initial cost to company, building & improvements	8,469
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	10,874
Gross amount, building & improvements	8,469
Gross amount, total	19,343
Accumulated depreciation	$ (732)
Restaurants - Casual Dining | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 4,119
Initial cost to company, building & improvements	6,014
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,119
Gross amount, building & improvements	6,014
Gross amount, total	10,133
Accumulated depreciation	$ (357)
Restaurants - Casual Dining | West Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 953
Initial cost to company, building & improvements	3,180
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	953
Gross amount, building & improvements	3,180
Gross amount, total	4,134
Accumulated depreciation	$ (200)
Restaurants - Family Dining | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 467
Initial cost to company, building & improvements	421
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	150
Gross amount, land & improvements	467
Gross amount, building & improvements	571
Gross amount, total	1,038
Accumulated depreciation	$ (357)
Restaurants - Family Dining | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	14
Initial cost to company, land & improvements	$ 9,832
Initial cost to company, building & improvements	22,607
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,330
Gross amount, land & improvements	9,832
Gross amount, building & improvements	23,937
Gross amount, total	33,769
Accumulated depreciation	$ (1,434)
Restaurants - Family Dining | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,372
Initial cost to company, building & improvements	1,206
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	750
Gross amount, land & improvements	1,372
Gross amount, building & improvements	1,956
Gross amount, total	3,328
Accumulated depreciation	$ (394)
Restaurants - Family Dining | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 804
Initial cost to company, building & improvements	563
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	804
Gross amount, building & improvements	563
Gross amount, total	1,367
Accumulated depreciation	$ (171)
Restaurants - Family Dining | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,148
Initial cost to company, building & improvements	2,847
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,148
Gross amount, building & improvements	2,847
Gross amount, total	4,995
Accumulated depreciation	$ (418)
Restaurants - Family Dining | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,433
Initial cost to company, building & improvements	2,451
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,433
Gross amount, building & improvements	2,451
Gross amount, total	4,883
Accumulated depreciation	$ (778)
Restaurants - Family Dining | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,038
Initial cost to company, building & improvements	1,153
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,038
Gross amount, building & improvements	1,153
Gross amount, total	2,191
Accumulated depreciation	$ (346)
Restaurants - Family Dining | New Hampshire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 131
Initial cost to company, building & improvements	232
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	131
Gross amount, building & improvements	232
Gross amount, total	364
Accumulated depreciation	$ (364)
Restaurants - Family Dining | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 784
Initial cost to company, building & improvements	756
Cost capitalized subsequent to acquisition, land & improvements	6
Cost capitalized subsequent to acquisition, building & improvements	61
Gross amount, land & improvements	790
Gross amount, building & improvements	817
Gross amount, total	1,607
Accumulated depreciation	$ (234)
Restaurants - Family Dining | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,930
Initial cost to company, building & improvements	2,111
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,930
Gross amount, building & improvements	2,111
Gross amount, total	4,041
Accumulated depreciation	$ (306)
Restaurants - Family Dining | Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 90
Initial cost to company, building & improvements	192
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	90
Gross amount, building & improvements	192
Gross amount, total	282
Accumulated depreciation	$ (282)
Restaurants - Family Dining | Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,787
Initial cost to company, building & improvements	3,861
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,787
Gross amount, building & improvements	3,861
Gross amount, total	5,647
Accumulated depreciation	$ (629)
Restaurants - Family Dining | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,967
Initial cost to company, building & improvements	2,955
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,967
Gross amount, building & improvements	2,955
Gross amount, total	4,922
Accumulated depreciation	$ (599)
Restaurants - Family Dining | Wyoming
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 739
Initial cost to company, building & improvements	1,569
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	739
Gross amount, building & improvements	1,569
Gross amount, total	2,308
Accumulated depreciation	$ (222)
Restaurants - Quick Service | Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	27
Initial cost to company, land & improvements	$ 7,180
Initial cost to company, building & improvements	15,222
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	83
Gross amount, land & improvements	7,180
Gross amount, building & improvements	15,305
Gross amount, total	22,485
Accumulated depreciation	$ (3,032)
Restaurants - Quick Service | Alaska
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,115
Initial cost to company, building & improvements	3,157
Cost capitalized subsequent to acquisition, land & improvements	5
Cost capitalized subsequent to acquisition, building & improvements	527
Gross amount, land & improvements	1,120
Gross amount, building & improvements	3,684
Gross amount, total	4,804
Accumulated depreciation	$ (631)
Restaurants - Quick Service | Arkansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	13
Initial cost to company, land & improvements	$ 6,961
Initial cost to company, building & improvements	11,489
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	15
Gross amount, land & improvements	6,961
Gross amount, building & improvements	11,504
Gross amount, total	18,465
Accumulated depreciation	$ (2,054)
Restaurants - Quick Service | California
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 467
Initial cost to company, building & improvements	533
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	467
Gross amount, building & improvements	533
Gross amount, total	1,000
Accumulated depreciation	$ (149)
Restaurants - Quick Service | Colorado
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 698
Initial cost to company, building & improvements	1,036
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	698
Gross amount, building & improvements	1,036
Gross amount, total	1,733
Accumulated depreciation	$ (207)
Restaurants - Quick Service | Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	18
Initial cost to company, land & improvements	$ 12,582
Initial cost to company, building & improvements	20,086
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	12,582
Gross amount, building & improvements	20,086
Gross amount, total	32,668
Accumulated depreciation	$ (1,875)
Restaurants - Quick Service | Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	48
Initial cost to company, land & improvements	$ 20,672
Initial cost to company, building & improvements	34,451
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	20,672
Gross amount, building & improvements	34,451
Gross amount, total	55,122
Accumulated depreciation	$ (5,644)
Restaurants - Quick Service | Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 2,062
Initial cost to company, building & improvements	2,892
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,100
Gross amount, land & improvements	2,062
Gross amount, building & improvements	3,992
Gross amount, total	6,054
Accumulated depreciation	$ (541)
Restaurants - Quick Service | Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	13
Initial cost to company, land & improvements	$ 9,014
Initial cost to company, building & improvements	12,894
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	504
Gross amount, land & improvements	9,014
Gross amount, building & improvements	13,398
Gross amount, total	22,411
Accumulated depreciation	$ (629)
Restaurants - Quick Service | Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	7
Initial cost to company, land & improvements	$ 2,268
Initial cost to company, building & improvements	6,367
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	75
Gross amount, land & improvements	2,268
Gross amount, building & improvements	6,442
Gross amount, total	8,711
Accumulated depreciation	$ (1,587)
Restaurants - Quick Service | Kansas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 194
Initial cost to company, building & improvements	777
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	194
Gross amount, building & improvements	777
Gross amount, total	971
Accumulated depreciation	$ (160)
Restaurants - Quick Service | Kentucky
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	13
Initial cost to company, land & improvements	$ 5,705
Initial cost to company, building & improvements	9,351
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	402
Gross amount, land & improvements	5,705
Gross amount, building & improvements	9,754
Gross amount, total	15,459
Accumulated depreciation	$ (1,423)
Restaurants - Quick Service | Louisiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 4,808
Initial cost to company, building & improvements	4,697
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	4,808
Gross amount, building & improvements	4,697
Gross amount, total	9,504
Accumulated depreciation	$ (555)
Restaurants - Quick Service | Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 338
Initial cost to company, building & improvements	624
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	338
Gross amount, building & improvements	624
Gross amount, total	962
Accumulated depreciation	$ (100)
Restaurants - Quick Service | Massachusetts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	9
Initial cost to company, land & improvements	$ 5,251
Initial cost to company, building & improvements	5,131
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	5,251
Gross amount, building & improvements	5,131
Gross amount, total	10,382
Accumulated depreciation	$ (808)
Restaurants - Quick Service | Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 3,446
Initial cost to company, building & improvements	7,227
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,446
Gross amount, building & improvements	7,227
Gross amount, total	10,673
Accumulated depreciation	$ (1,719)
Restaurants - Quick Service | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 2,605
Initial cost to company, building & improvements	4,416
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	2,605
Gross amount, building & improvements	4,416
Gross amount, total	7,021
Accumulated depreciation	$ (1,231)
Restaurants - Quick Service | Mississippi
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	35
Initial cost to company, land & improvements	$ 15,555
Initial cost to company, building & improvements	23,125
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	390
Gross amount, land & improvements	15,555
Gross amount, building & improvements	23,515
Gross amount, total	39,070
Accumulated depreciation	$ (3,018)
Restaurants - Quick Service | Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 3,067
Initial cost to company, building & improvements	4,650
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,067
Gross amount, building & improvements	4,650
Gross amount, total	7,717
Accumulated depreciation	$ (320)
Restaurants - Quick Service | Montana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,365
Initial cost to company, building & improvements	1,249
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,365
Gross amount, building & improvements	1,249
Gross amount, total	2,614
Accumulated depreciation	$ (21)
Restaurants - Quick Service | Nebraska
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 849
Initial cost to company, building & improvements	3,206
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	849
Gross amount, building & improvements	3,206
Gross amount, total	4,055
Accumulated depreciation	$ (405)
Restaurants - Quick Service | New Hampshire
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 409
Initial cost to company, building & improvements	355
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	409
Gross amount, building & improvements	355
Gross amount, total	763
Accumulated depreciation	$ (114)
Restaurants - Quick Service | New York
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	4
Initial cost to company, land & improvements	$ 4,677
Initial cost to company, building & improvements	4,143
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	400
Gross amount, land & improvements	4,677
Gross amount, building & improvements	4,543
Gross amount, total	9,220
Accumulated depreciation	$ (1,238)
Restaurants - Quick Service | North Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 6,476
Initial cost to company, building & improvements	4,534
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	411
Gross amount, land & improvements	6,476
Gross amount, building & improvements	4,944
Gross amount, total	11,420
Accumulated depreciation	$ (189)
Restaurants - Quick Service | Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	9
Initial cost to company, land & improvements	$ 3,689
Initial cost to company, building & improvements	10,738
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	3,689
Gross amount, building & improvements	10,738
Gross amount, total	14,426
Accumulated depreciation	$ (1,145)
Restaurants - Quick Service | Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	11
Initial cost to company, land & improvements	$ 8,978
Initial cost to company, building & improvements	9,531
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	8,978
Gross amount, building & improvements	9,531
Gross amount, total	18,509
Accumulated depreciation	$ (886)
Restaurants - Quick Service | Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 252
Initial cost to company, building & improvements	131
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	252
Gross amount, building & improvements	131
Gross amount, total	383
Accumulated depreciation	$ (48)
Restaurants - Quick Service | Pennsylvania
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	3
Initial cost to company, land & improvements	$ 1,369
Initial cost to company, building & improvements	1,710
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,369
Gross amount, building & improvements	1,710
Gross amount, total	3,079
Accumulated depreciation	$ (470)
Restaurants - Quick Service | South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	5
Initial cost to company, land & improvements	$ 1,469
Initial cost to company, building & improvements	2,291
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	30
Gross amount, land & improvements	1,469
Gross amount, building & improvements	2,321
Gross amount, total	3,791
Accumulated depreciation	$ (503)
Restaurants - Quick Service | South Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,127
Initial cost to company, building & improvements	1,715
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,127
Gross amount, building & improvements	1,715
Gross amount, total	2,842
Accumulated depreciation	$ (78)
Restaurants - Quick Service | Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	20
Initial cost to company, land & improvements	$ 11,921
Initial cost to company, building & improvements	16,116
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	354
Gross amount, land & improvements	11,921
Gross amount, building & improvements	16,470
Gross amount, total	28,391
Accumulated depreciation	$ (2,849)
Restaurants - Quick Service | Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	38
Initial cost to company, land & improvements	$ 29,040
Initial cost to company, building & improvements	31,932
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	1,501
Gross amount, land & improvements	29,043
Gross amount, building & improvements	33,434
Gross amount, total	62,477
Accumulated depreciation	$ (4,083)
Restaurants - Quick Service | West Virginia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	6
Initial cost to company, land & improvements	$ 1,293
Initial cost to company, building & improvements	3,137
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	0
Gross amount, land & improvements	1,293
Gross amount, building & improvements	3,137
Gross amount, total	4,430
Accumulated depreciation	$ (792)
Restaurants - Quick Service | Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	2
Initial cost to company, land & improvements	$ 1,197
Initial cost to company, building & improvements	2,462
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	85
Gross amount, land & improvements	1,197
Gross amount, building & improvements	2,547
Gross amount, total	3,748
Accumulated depreciation	$ (669)
Vacant Properties | Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 734
Initial cost to company, building & improvements	309
Cost capitalized subsequent to acquisition, land & improvements	180
Cost capitalized subsequent to acquisition, building & improvements	25
Gross amount, land & improvements	914
Gross amount, building & improvements	334
Gross amount, total	1,248
Accumulated depreciation	$ (174)
Vacant Properties | Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
# of Properties | property	1
Initial cost to company, land & improvements	$ 1,046
Initial cost to company, building & improvements	2,636
Cost capitalized subsequent to acquisition, land & improvements	0
Cost capitalized subsequent to acquisition, building & improvements	350
Gross amount, land & improvements	1,046
Gross amount, building & improvements	2,986
Gross amount, total	4,032
Accumulated depreciation	$ (477)

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Footnotes (Details) $ in Millions	Dec. 31, 2023 USD ($) property lease	Dec. 31, 2022 property	Dec. 31, 2021 property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of property locations of investments	1,873	1,653
Owned properties	1,726	1,489
Number of ground lease interests	11
Properties securing investments in mortgage loans	136	153
Number of real estate subject to ground lease	3
Number of leases accounted for as loans receivable | lease	2
Number of real estate properties held for sale	4	4	9
Intangible lease assets | $	$ 78.1
Aggregate cost for federal income tax | $	$ 4,300
Buildings and improvements | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life	40 years
Site improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life	15 years

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Reconciliation of Carrying Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance, beginning of period	$ 3,669,317	$ 3,040,073	$ 2,260,919
Acquisitions	887,407	751,610	831,795
Improvements	51,323	27,609	9,459
Provisions for impairment of real estate	(3,548)	(20,164)	(6,120)
Real estate investments held for sale	(7,455)	(4,780)	(15,434)
Cost of real estate sold	(116,029)	(123,081)	(40,546)
Other	(701)	(1,949)	0
Balance, end of period	$ 4,480,314	$ 3,669,317	$ 3,040,073

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance, beginning of period	$ 238,022	$ 169,126	$ 112,144
Depreciation expense	95,527	80,647	61,172
Accumulated depreciation associated with real estate investments sold and held for sale	(11,605)	(11,751)	(4,190)
Balance, end of period	$ 321,944	$ 238,022	$ 169,126

Schedule IV - Mortgage Loans _2

Schedule IV - Mortgage Loans on Real Estate - Summary of Mortgage Loans on Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property state	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face Amount of Mortgages	$ 220,774
Carrying Amount of Mortgages	$ 220,121	$ 233,978	$ 181,419	$ 144,048
First Mortgage Loans | Early Childhood Education Centers located in Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	2
Interest Rate	8.80%
Final Payment Terms	$ 12,000
Face Amount of Mortgages	12,000
Carrying Amount of Mortgages	$ 11,874
First Mortgage Loans | Early Childhood Education Centers located in Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	2
Interest Rate	8.53%
Final Payment Terms	$ 7,300
Face Amount of Mortgages	7,300
Carrying Amount of Mortgages	$ 7,220
First Mortgage Loans | Quick Service Restaurants located in fifteen states
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of states | state	15
# of Properties | property	69
Interest Rate	7.79%
Final Payment Terms	$ 51,000
Face Amount of Mortgages	51,000
Carrying Amount of Mortgages	$ 50,995
First Mortgage Loans | Early Childhood Education Center located in Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	8.42%
Final Payment Terms	$ 5,300
Face Amount of Mortgages	5,300
Carrying Amount of Mortgages	$ 5,247
First Mortgage Loans | Convenience Stores located in Minnesota
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	2
Interest Rate	8.54%
Final Payment Terms	$ 1,785
Face Amount of Mortgages	1,785
Carrying Amount of Mortgages	$ 1,754
First Mortgage Loans | Family Dining Restaurant located in Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	7%
Final Payment Terms	$ 500
Face Amount of Mortgages	500
Carrying Amount of Mortgages	$ 500
First Mortgage Loans | Convenience Stores located in Wisconsin and Iowa
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	2
Interest Rate	8.33%
Final Payment Terms	$ 994
Face Amount of Mortgages	994
Carrying Amount of Mortgages	$ 972
First Mortgage Loans | Casual Dining Restaurants located in Kentucky and Ohio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	2
Interest Rate	6.87%
Final Payment Terms	$ 2,520
Face Amount of Mortgages	2,520
Carrying Amount of Mortgages	$ 2,520
First Mortgage Loans | Convenience Stores located in Iowa
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	2
Interest Rate	8.33%
Final Payment Terms	$ 2,389
Face Amount of Mortgages	2,389
Carrying Amount of Mortgages	$ 2,326
First Mortgage Loans | Entertainment Center located in New Jersey
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	8.96%
Face Amount of Mortgages	$ 24,100
Carrying Amount of Mortgages	$ 24,089
First Mortgage Loans | Car Washes located in Nevada
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	5
Interest Rate	7.30%
Final Payment Terms	$ 25,714
Face Amount of Mortgages	25,714
Carrying Amount of Mortgages	$ 25,711
First Mortgage Loans | Car Wash located in Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	7.73%
Final Payment Terms	$ 2,470
Face Amount of Mortgages	2,470
Carrying Amount of Mortgages	$ 2,464
First Mortgage Loans | Casual Dining Restaurant located in Michigan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	8%
Final Payment Terms	$ 1,754
Face Amount of Mortgages	1,754
Carrying Amount of Mortgages	$ 1,709
First Mortgage Loans | Quick Service Restaurants located in three states
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of states | state	3
# of Properties | property	26
Interest Rate	7%
Final Payment Terms	$ 17,494
Face Amount of Mortgages	17,494
Carrying Amount of Mortgages	$ 17,407
First Mortgage Loans | Car Wash located in New Jersey
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	7.73%
Final Payment Terms	$ 3,600
Face Amount of Mortgages	3,600
Carrying Amount of Mortgages	$ 3,591
First Mortgage Loans | Convenience Store located in Minnesota
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	8.30%
Final Payment Terms	$ 760
Face Amount of Mortgages	760
Carrying Amount of Mortgages	$ 739
First Mortgage Loans | Car Wash located in Nevada
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	7.33%
Final Payment Terms	$ 4,960
Face Amount of Mortgages	4,960
Carrying Amount of Mortgages	$ 4,947
First Mortgage Loans | Car Wash located in Nevada
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	7.43%
Final Payment Terms	$ 4,800
Face Amount of Mortgages	4,800
Carrying Amount of Mortgages	$ 4,788
First Mortgage Loans | Car Washes located in three states
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of states | state	3
# of Properties | property	4
Interest Rate	8.64%
Final Payment Terms	$ 12,250
Face Amount of Mortgages	12,250
Carrying Amount of Mortgages	$ 12,246
First Mortgage Loans | Car Washes located in five states
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of states | state	5
# of Properties | property	9
Interest Rate	8.85%
Final Payment Terms	$ 25,993
Face Amount of Mortgages	25,993
Carrying Amount of Mortgages	$ 25,942
First Mortgage Loans | Entertainment Center located in Missouri
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	8.84%
Final Payment Terms	$ 10,200
Face Amount of Mortgages	10,200
Carrying Amount of Mortgages	$ 10,189
First Mortgage Loans | Fitness Center located in Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
# of Properties | property	1
Interest Rate	8.10%
Final Payment Terms	$ 2,891
Face Amount of Mortgages	2,891
Carrying Amount of Mortgages	$ 2,891

Schedule IV - Mortgage Loans _3

Schedule IV - Mortgage Loans on Real Estate - Summary of Changes in Carrying Amounts of Mortgage Loans Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning of period	$ 233,978	$ 181,419	$ 144,048
Additions:
New mortgage loans	13,091	126,784	137,356
Subsequent funding on existing mortgage loans		17,236	0
Deductions:
Collections of principal	(27,029)	(91,488)	(100,179)
Provision for credit losses	81	27	194
Balance, end of period	$ 220,121	$ 233,978	$ 181,419