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Real Estate Investments, Net (Tables)

9 Months Ended

Sep. 30, 2018

Real Estate [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table presents the allocation of the assets acquired and liabilities assumed during the nine months ended September 30, 2018 and 2017, based on the exchange rate at the time of purchase. All acquisitions in both periods were considered asset acquisitions for accounting purposes.

		Nine Months Ended September 30,
(Dollar amounts in thousands)		2018				2017
Real estate investments, at cost:
Land		$	24,269			$	6,359
Buildings, fixtures and improvements		205,990				27,220
Total tangible assets		230,259				33,579
Acquired intangible lease assets:
In-place leases		42,031				4,859
Above-market lease assets		48				47
Below-market lease liabilities		(4,959		)		(1,372		)
Cash paid for acquired real estate investments		$	267,379			$	37,113
Number of properties purchased		17				4

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 September 30, 2018. 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)
2018 (remainder)		$	65,414
2019		264,029
2020		267,518
2021		268,287
2022		258,975
2023		234,943
Thereafter		777,237
		$	2,136,403

___________________________________________

⁽¹⁾  Assumes exchange rates of £1.00 to $1.30 for GBP and €1.00 to $1.16 for EUR as of September 30, 2018 for illustrative purposes, as applicable.

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

(In thousands)		Future Ground Lease Payments
2018 (remainder)		$	347
2019		1,390
2020		1,390
2021		1,390
2022		1,390
2023		1,390
Thereafter		41,085
Total		$	48,382

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

The following table lists the country 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 September 30, 2018 and December 31, 2017.

Country, State or Territory		September 30, 2018		December 31, 2017
United States*		52.9%		48.9%
United Kingdom		20.3%		22.1%

___________________________________________

* There is no state in the United States that exceeded the 10.0% threshold.

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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.

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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