Real Estate Investments, Net (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Business Acquisitions, by Acquisition

The fair value of the consideration transferred for the Mergers totaled $220.9 million and consisted of the following:



	As of Merger Date
Fair value of consideration transferred:
Cash	$	—
Common stock	220,868
Total consideration transferred	$	220,868

The following table presents the allocation of the assets acquired and liabilities assumed during the six months ended June 30, 2017 based on contract purchase price and exchange rate at the time of purchase. There were no acquisitions during the six months ended June 30, 2016.



	Six Months Ended
(Dollar amounts in thousands)	June 30, 2017
Real estate investments, at cost:
Land	$	5,443
Buildings, fixtures and improvements	22,131
Total tangible assets	27,574
Intangibles acquired:
In-place leases	4,003
Above market lease assets	47
Below market lease liabilities	(1,334		)
Total assets acquired, net	30,290
Mortgage notes payable used to acquire real estate investments	—
Cash paid for acquired real estate investments	$	30,290
Number of properties purchased	3

Schedule of Future Minimum Rental Payments for Operating Leases

The following table presents future minimum base rental cash payments due to the Company over the next five calendar years and thereafter as of June 30, 2017. These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items.



(In thousands)	Future Minimum Base Rent Payments ⁽¹⁾
2017 (remainder)	$	118,259
2018	238,770
2019	241,714
2020	244,624
2021	242,628
2022	233,032
Thereafter	833,697
	$	2,152,724

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⁽¹⁾	Assumes exchange rates of £1.00 to $1.30 for GBP and €1.00 to $1.14 for Euro as of June 30, 2017 for illustrative purposes, as applicable.

Future minimum rental payments to be made by the Company under these noncancelable ground leases, excluding increases resulting from increases in the consumer price index, are as follows:



(In thousands)	Future Ground Lease Payments
2017 (remainder)	$	684
2018	1,368
2019	1,368
2020	1,368
2021	1,368
2022	1,368
Thereafter	41,817
Total	$	49,341

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following table lists the countries and states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of June 30, 2017 and 2016.



	June 30,
Country or State	2017	2016
United Kingdom	22.2%	17.6%
United States and Puerto Rico:
Texas	*	11.6%
United States and Puerto Rico	49.1%	50.0%

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*	Annualized rental income on a straight-line basis was not 10% or greater of total annualized rental income as of the period specified.