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Real Estate Investments, Net (Tables)
3 Months Ended
Mar. 31, 2019
Real Estate [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The following table presents the allocation of the assets acquired and liabilities assumed during the three months ended March 31, 2019 and 2018, and, in the case of assets located outside of the United States, based on the exchange rate at the time of purchase. All acquisitions in both periods were considered asset acquisitions for accounting purposes.
 
 
Three Months Ended March 31,
(Dollar amounts in thousands)
 
2019
 
2018
Real estate investments, at cost:
 
 
 
 
Land
 
$
2,442

 
$
10,729

Buildings, fixtures and improvements
 
17,349

 
44,772

Total tangible assets
 
19,791

 
55,501

Acquired intangible lease assets:
 
 
 
 
In-place leases
 
3,846

 
8,893

Above-market lease assets
 
64

 

Below-market lease liabilities
 
(247
)
 
(798
)
Cash paid for acquired real estate investments
 
$
23,454

 
$
63,596

Number of properties purchased
 
2

 
6


Geographic Rental Income Concentration
The following table lists the countries and U.S. states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented greater than 10.0% of consolidated annualized rental income on a straight-line basis as of March 31, 2019 and December 31, 2018.
Country / U.S. State
 
March 31,
2019
 
December 31,
2018
United States
 
55.8%
 
55.7%
      Michigan
 
13.7%
 
13.7%
United Kingdom
 
19.4%
 
19.0%