Real Estate Investments	12 Months Ended
Dec. 31, 2020
Real Estate Investments
Real Estate Investments	Note 4 – Real Estate Investments Real Estate Portfolio As of December 31, 2020, the Company owned 1,129 properties, with a total gross leasable area (“GLA”) of approximately 22.7 million square feet. Net Real Estate Investments totaled $3.30 billion as of December 31, 2020. As of December 31, 2019, the Company owned 821 properties, with a total GLA of approximately 14.6 million square feet. Net Real Estate Investments totaled $2.22 billion as of December 31, 2019. Acquisitions During 2020, the Company purchased 317 retail net lease assets for approximately $1.31 billion, which includes acquisition and closing costs. These properties are located in 39 states and had a weighted average lease term of approximately 11.3 years. The aggregate 2020 acquisitions were allocated approximately $386.9 million to land, $768.2 million to buildings and improvements, and $158.1 million to lease intangibles. During 2019, the Company purchased 186 retail net lease assets for approximately $702.9 million, which includes acquisition and closing costs. These properties are located in 40 states and are leased for a weighted average lease term of approximately 11.7 years. The aggregate 2019 acquisitions were allocated approximately $195.8 million to land, $415.1 million to buildings and improvements, and $92.0 million to lease intangibles and other assets. The 2020 and 2019 acquisitions were substantially all cash purchases and there was no material contingent consideration associated with these acquisitions. None of the Company’s investments during 2020 or 2019 caused any new or existing tenant to comprise 10% or more of the Company’s total assets or generate 10% or more of the Company’s total annualized contractual base rent at December 31, 2020 or 2019. Developments During 2020, the Company completed nine development or Partner Capital Solutions (“PCS”) projects. During 2019, eight such projects were completed. At December 31, 2020, the Company had three development or PCS projects under construction. Dispositions During 2020, the Company sold real estate properties for net proceeds of $47.7 million and recorded a net gain of $8.0 million. During 2019, the Company sold real estate properties for net proceeds of $65.5 million and recorded a net gain of $13.3 million. During 2018, the Company sold real estate properties for net proceeds of $65.8 million and recorded a net gain of $11.2 million. Provisions for Impairment As a result of the Company’s review of Real Estate Investments it recognized real estate impairment charges of $4.1 million, $1.6 million and $2.3 million for the years ended December 31, 2020, 2019 and 2018, respectively. The estimated fair value of the impaired real estate assets at their time of impairment during 2020, 2019 and 2018 was $11.9 million, $3.0 million and $17.3 million, respectively.

Real Estate Investments

12 Months Ended

Dec. 31, 2020

Note 4 – Real Estate Investments

Real Estate Portfolio

As of December 31, 2020, the Company owned 1,129 properties, with a total gross leasable area (“GLA”) of approximately 22.7 million square feet. Net Real Estate Investments totaled $3.30 billion as of December 31, 2020. As of December 31, 2019, the Company owned 821 properties, with a total GLA of approximately 14.6 million square feet. Net Real Estate Investments totaled $2.22 billion as of December 31, 2019.

Acquisitions

During 2020, the Company purchased 317 retail net lease assets for approximately $1.31 billion, which includes acquisition and closing costs. These properties are located in 39 states and had a weighted average lease term of approximately 11.3 years. The aggregate 2020 acquisitions were allocated approximately $386.9 million to land, $768.2 million to buildings and improvements, and $158.1 million to lease intangibles.

During 2019, the Company purchased 186 retail net lease assets for approximately $702.9 million, which includes acquisition and closing costs. These properties are located in 40 states and are leased for a weighted average lease term of approximately 11.7 years. The aggregate 2019 acquisitions were allocated approximately $195.8 million to land, $415.1 million to buildings and improvements, and $92.0 million to lease intangibles and other assets.

The 2020 and 2019 acquisitions were substantially all cash purchases and there was no material contingent consideration associated with these acquisitions.

None of the Company’s investments during 2020 or 2019 caused any new or existing tenant to comprise 10% or more of the Company’s total assets or generate 10% or more of the Company’s total annualized contractual base rent at December 31, 2020 or 2019.

Developments

During 2020, the Company completed nine development or Partner Capital Solutions (“PCS”) projects. During 2019, eight such projects were completed. At December 31, 2020, the Company had three development or PCS projects under construction.

Dispositions

During 2020, the Company sold real estate properties for net proceeds of $47.7 million and recorded a net gain of $8.0 million.

During 2019, the Company sold real estate properties for net proceeds of $65.5 million and recorded a net gain of $13.3 million.

During 2018, the Company sold real estate properties for net proceeds of $65.8 million and recorded a net gain of $11.2 million.

Provisions for Impairment

As a result of the Company’s review of Real Estate Investments it recognized real estate impairment charges of $4.1 million, $1.6 million and $2.3 million for the years ended December 31, 2020, 2019 and 2018, respectively. The estimated fair value of the impaired real estate assets at their time of impairment during 2020, 2019 and 2018 was $11.9 million, $3.0 million and $17.3 million, respectively.