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Real Estate Investments, Net (Tables)

3 Months Ended

Mar. 31, 2023

Real Estate [Abstract]

Schedule of Allocation of Assets Acquired and Liabilities Assumed

The following table presents the allocation of the assets acquired and liabilities assumed during the three months ended March 31, 2023, and, in the case of assets located outside of the United States, based on the applicable exchange rate at the time of purchase. All acquisitions were considered asset acquisitions for accounting purposes. The Company did not acquire any properties in the three months ended March 31, 2022.

						Three Months Ended March 31,
(Dollar amounts in thousands)						2023
Real estate investments, at cost:
Land						$	4,757
Buildings, fixtures and improvements						30,087
Total tangible assets						34,844
Intangibles acquired:
In-place leases						4,128
Above-market lease assets						40,964
Total Intangible assets and liabilities						45,092
ROU asset						1,426
Mortgage note payable						—
Cash paid for acquired real estate investments						81,362
Number of properties purchased						$	8

Schedule of Acquisitions by Property Type

The following table summarizes the acquisitions by property type during the three months ended March 31, 2023:

Property Type						Number of Properties						Square Feet (unaudited)
Properties Acquired in 2023:
Office						—						—
Industrial						—						—
Distribution						—						—
Retail						8						323,730
						8						323,730

Schedule of Properties with Significant Annualized Straight-line Rental Income, 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 greater than 10.0% of consolidated annualized rental income on a straight-line basis as of March 31, 2023 and December 31, 2022.

Country / U.S. State						March 31, 2023						December 31, 2022
United States						60.1%						63.9%
Michigan						14.7%						15.5%
United Kingdom						21.9%						17.4%

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
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Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

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+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-03.1)
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

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