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Subsequent Events | 9 Months Ended
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Sep. 30, 2019
Subsequent Events [Abstract] |
Subsequent Events |
16. SUBSEQUENT EVENTS
Distributions—Distributions paid to stockholders and OP unit holders of record subsequent to September 30, 2019, were as follows (in thousands, except distribution rate):
Month | Date of Record |  | Distribution Rate |  | Date Distribution Paid |  | Gross Amount of Distribution Paid |  | Distribution Reinvested through the DRIP |  | Net Cash Distribution
September 2019 | 9/16/2019 |  | $0.05583344 |  | 10/1/2019 |  | $ | 18,091 |  |  | $ | 5,366 |  |  | $ | 12,725 |
October 2019 | 10/15/2019 |  | $0.05583344 |  | 11/1/2019 |  | 18,108 |  |  | 5,343 |  |  | 12,765 |
In November 2019, our Board authorized distributions for December 2019, as well as January and February 2020 to the stockholders of record at the close of business on December 16, 2019, January 15, 2020, and February 17, 2020, respectively, equal to a monthly amount of $0.05583344 per share of common stock. The distributions f or November 2019 were previously authorized by our Board and are expected to be paid on December 2, 2019. OP unit holders will receive distributions at the same rate as common stockholders. We pay distributions to stockholders and OP unit holders based on monthly record dates. We expect to pay these distributions on the first business day after the end of each month. Property Sales—Subsequent to September 30, 2019, we sold the following real estate properties, which were classified as held for sale as of September 30, 2019 (dollars in thousands):
Property Name |  | Location |  | Anchor Tenant |  | Square Footage |  | Disposition Date |  | Sale Price
Promenade Shopping Center |  | Jacksonville, FL |  | Rowe's IGA |  | 115,835 |  | 10/15/2019 |  | $ | 11,950 |
Countryside Shopping Center |  | Port Orange, FL |  | Big Lots |  | 124,268 |  | 11/1/2019 |  | 11,800 |

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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