Real Estate Investments	6 Months Ended
Jun. 30, 2019
Real Estate [Abstract]
Real Estate Investments	Note 4 – Real Estate Investments Real Estate Portfolio As of June 30, 2019, the Company owned 722 properties, with a total gross leasable area of approximately 13.1 million square feet. Net Real Estate Investments totaled $1.9 billion as of June 30, 2019. As of December 31, 2018, the Company owned 645 properties, with a total gross leasable area of approximately 11.2 million square feet. Net Real Estate Investments totaled $1.7 billion as of December 31, 2018. Acquisitions During the three months ended June 30, 2019, the Company purchased 31 retail net lease assets for approximately $176.9 million, which includes acquisition and closing costs. These properties are located in 20 states and are leased for a weighted average lease term of approximately 10.6 years. During the six months ended June 30, 2019, the Company purchased 79 retail net lease assets for approximately $318.6 million, which includes acquisition and closing costs. These properties are located in 30 states and are leased for a weighted average lease term of approximately 11.6 years. The aggregate acquisitions for the six months ended June 30, 2019 were allocated $89.9 million to land, $189.6 million to buildings and improvements, and $39.1 million to lease intangibles. The acquisitions were all cash purchases and there were no contingent considerations associated with these acquisitions. None of the Company’s acquisitions during the first six months of 2019 caused any new or existing tenant to comprise 10% or more of our total assets or generate 10% or more of our total annualized contractual base rent at June 30, 2019. Developments During the three months ended June 30, 2019, the Company completed or had under construction six developments or Partnership Capital Solutions projects. During the six months ended June 30, 2019, the Company completed or had under construction nine developments or Partnership Capital Solutions projects. Dispositions During the three months ended June 30, 2019, the Company sold four properties for net proceeds of $17.0 million and the Company recorded a net gain of $2.9 million. During the six months ended June 30, 2019, the Company sold six properties for net proceeds of $26.8 million and the Company recorded a net gain of $6.4 million. Provision for Impairment The Company reviews long-lived assets, including intangible assets, for possible impairment when certain events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable through operations. Events or changes in circumstances may include significant changes in real estate market conditions and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. The Company recognized provisions for impairment of $1.2 million for the three months ended June 30, 2019 and 2018, and $1.6 million and $1.2 million for the six months ended June 30, 2019 and 2018, respectively. The valuation of impaired assets is determined using valuation techniques including discounted cash flow analysis, analysis of recent comparable sales transactions, and purchase offers received from third parties, which are Level 3 inputs. The Company may consider a single valuation technique or multiple valuation techniques, as appropriate, when estimating the fair value of its real estate.

Real Estate Investments

6 Months Ended

Jun. 30, 2019

Note 4 – Real Estate Investments

Real Estate Portfolio

As of June 30, 2019, the Company owned 722 properties, with a total gross leasable area of approximately 13.1 million square feet. Net Real Estate Investments totaled $1.9 billion as of June 30, 2019. As of December 31, 2018, the Company owned 645 properties, with a total gross leasable area of approximately 11.2 million square feet. Net Real Estate Investments totaled $1.7 billion as of December 31, 2018.

Acquisitions

During the three months ended June 30, 2019, the Company purchased 31 retail net lease assets for approximately $176.9 million, which includes acquisition and closing costs. These properties are located in 20 states and are leased for a weighted average lease term of approximately 10.6 years.

During the six months ended June 30, 2019, the Company purchased 79 retail net lease assets for approximately $318.6 million, which includes acquisition and closing costs. These properties are located in 30 states and are leased for a weighted average lease term of approximately 11.6 years.

The aggregate acquisitions for the six months ended June 30, 2019 were allocated $89.9 million to land, $189.6 million to buildings and improvements, and $39.1 million to lease intangibles. The acquisitions were all cash purchases and there were no contingent considerations associated with these acquisitions. None of the Company’s acquisitions during the first six months of 2019 caused any new or existing tenant to comprise 10% or more of our total assets or generate 10% or more of our total annualized contractual base rent at June 30, 2019.

Developments

During the three months ended June 30, 2019, the Company completed or had under construction six developments or Partnership Capital Solutions projects.

During the six months ended June 30, 2019, the Company completed or had under construction nine developments or Partnership Capital Solutions projects.

Dispositions

During the three months ended June 30, 2019, the Company sold four properties for net proceeds of $17.0 million and the Company recorded a net gain of $2.9 million.

During the six months ended June 30, 2019, the Company sold six properties for net proceeds of $26.8 million and the Company recorded a net gain of $6.4 million.

Provision for Impairment

The Company reviews long-lived assets, including intangible assets, for possible impairment when certain events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable through operations. Events or changes in circumstances may include significant changes in real estate market conditions and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. The Company recognized provisions for impairment of $1.2 million for the three months ended June 30, 2019 and 2018, and $1.6 million and $1.2 million for the six months ended June 30, 2019 and 2018, respectively.

The valuation of impaired assets is determined using valuation techniques including discounted cash flow analysis, analysis of recent comparable sales transactions, and purchase offers received from third parties, which are Level 3 inputs. The Company may consider a single valuation technique or multiple valuation techniques, as appropriate, when estimating the fair value of its real estate.