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Real Estate Investments | 3 Months Ended
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Mar. 31, 2022
Real Estate Investments |
Real Estate Investments | Note 4 – Real Estate Investments Real Estate Portfolio As of March 31, 2022, the Company owned 1,510 properties, with a total gross leasable area (“GLA”) of approximately 31.0 million square feet. Net Real Estate Investments totaled $4.7 billion as of March 31, 2022. As of December 31, 2021, the Company owned 1,404 properties, with a total GLA of approximately 29.1 million square feet. Net Real Estate Investments totaled $4.4 billion as of December 31, 2021. Acquisitions During the three months ended March 31, 2022, the Company purchased 106 retail net lease assets for approximately $409.8 million, which includes acquisition and closing costs. These properties are located in 32 states and are leased for a weighted average lease term of approximately 9.2 years. The aggregate acquisitions for the three months ended March 31, 2022 were allocated $99.8 million to land, $249.2 million to buildings and improvements, and $60.8 million to lease intangibles. The acquisitions were all cash purchases and there was no material contingent consideration associated with these acquisitions. None of the Company’s acquisitions during the first three months of 2022 caused any new or existing tenant to comprise 10% or more of its total assets or generate 10% or more of its total annualized contractual base rent at March 31, 2022. Developments During the three months ended March 31, 2022, the Company commenced 15 development or Partner Capital Solutions projects. At March 31, 2022, the Company had 17 development or Partner Capital Solutions projects under construction. ​ Dispositions During the three months ended March 31, 2022, the Company sold one property, which was classified as held for sale as of December 31, 2021, for net proceeds of $7.6 million and recorded a net gain of $2.3 million. Provisions for Impairment As a result of the Company’s review of real estate investments, it recognized a $1.0 million provision for impairment for the three months ended March 31, 2022. There was no impairment recognized during the three months ended March 31, 2021. The estimated fair value of the impaired real estate assets at their time of impairment during 2022 was $1.8 million.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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