v3.21.2

Acquisitions of Rental Property (Tables) | 9 Months Ended
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Sep. 30, 2021
Business Combinations [Abstract] |
Acquisitions of Rental Property Closed | The Company closed on the following acquisitions during the nine months ended September 30, 2021:
(in thousands, except number of properties) |  | Number of |  |  | Real Estate |  |
Date |  | Property Type |  | Properties |  |  | Acquisition Price |  |
February 5, 2021 |  | Healthcare |  |  | 1 |  |  | $ | 4,843 |  |
February 26, 2021 |  | Restaurant |  | (a) |  |  |  | 181 |  |
March 11, 2021 |  | Retail |  |  | 13 |  |  |  | 26,834 |  |
March 30, 2021 |  | Retail |  |  | 11 |  |  |  | 41,324 |  |
March 31, 2021 |  | Healthcare |  |  | 3 |  |  |  | 14,140 |  |
June 4, 2021 |  | Retail |  |  | 2 |  |  |  | 19,420 |  |
June 9, 2021 |  | Industrial |  |  | 1 |  |  |  | 8,500 |  |
June 9, 2021 |  | Industrial |  |  | 11 |  |  |  | 106,578 |  |
June 25, 2021 |  | Retail |  |  | 8 |  |  |  | 12,131 |  |
June 28, 2021 |  | Healthcare |  |  | 4 |  |  |  | 15,300 |  |
June 30, 2021 |  | Retail |  |  | 1 |  |  |  | 1,279 |  |
June 30, 2021 |  | Healthcare |  |  | 7 |  |  |  | 30,750 |  |
July 2, 2021 |  | Industrial |  | (b) |  |  |  | 4,500 |  |
July 21, 2021 |  | Retail |  |  | 1 |  |  |  | 5,565 |  |
July 29, 2021 |  | Retail |  |  | 3 |  |  |  | 4,586 |  |
July 29, 2021 |  | Industrial |  |  | 1 |  |  |  | 13,041 |  |
July 30, 2021 |  | Industrial |  |  | 2 |  |  |  | 11,011 |  |
August 23, 2021 |  | Healthcare |  |  | 1 |  |  |  | 60,000 |  |
September 8, 2021 |  | Retail |  |  | 2 |  |  |  | 8,901 |  |
September 17, 2021 |  | Retail |  |  | 1 |  |  |  | 1,722 |  |
September 24, 2021 |  | Retail |  |  | 1 |  |  |  | 2,456 |  |
September 24, 2021 |  | Industrial |  |  | 2 |  |  |  | 48,699 |  |
September 29, 2021 |  | Industrial |  |  | 1 |  |  |  | 10,600 |  |
September 30, 2021 |  | Industrial |  |  | 3 |  |  |  | 59,343 |  |
|  |  |  |  | 80 |  |  | $ | 511,704 |  | (c)
(a) Acquisition of additional land adjacent to an existing property. (b) Acquisition of land related to an existing property. (c) Acquisition price does not include capitalized acquisition costs of $4,432. Subsequent to September 30, 2021, the Company closed on the following acquisitions (see Note 19):
(in thousands, except number of properties) |  | Number of |  |  | Real Estate |
Date |  | Property Type |  | Properties |  |  | Acquisition Price |
October 1, 2021 |  | Healthcare |  |  | 1 |  |  | $ | 3,306 |
October 22, 2021 |  | Industrial |  |  | 1 |  |  |  | 5,386 |
October 27, 2021 |  | Retail |  |  | 3 |  |  |  | 4,278 |
|  |  |  |  | 5 |  |  | $ | 12,970 |
Summary of Allocation of Purchase Price | The following table summarizes the purchase price allocation for completed real estate acquisitions:
|  | For the Nine Months Ended |
(in thousands) |  | September 30, 2021 |
Land |  | $ | 72,829 |
Land improvements |  |  | 22,103 |
Buildings and improvements |  |  | 379,946 |
Acquired in-place leases(d) |  |  | 40,865 |
Acquired above-market lease (e) |  |  | 211 |
Right-of-use asset |  |  | 663 |
Lease liability |  |  | (481 | )
|  | $ | 516,136 |
(d) The weighted average amortization period for acquired in-place leases is 17 year s. (e) The weighted average amortization period for acquired above-market leases is 10 years.

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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