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Real Estate Investments (Tables)

6 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

Allocation of Purchase Price Paid for Completed Acquisitions

An allocation of the purchase price and acquisition costs paid for the completed acquisitions is as follows (in thousands):

			Three Months Ended June 30,									Six Months Ended June 30,
			2023						2022			2023						2022
Land			$	19,748					$	34,419		$	34,052					$	49,073
Buildings			56,869						67,682			100,002						127,770
Site improvements			5,490						5,314			8,969						11,852
Tenant improvements			1,168						1,016			1,559						2,176
In-place lease intangible assets			11,399						13,533			17,809						22,405
Above-market lease intangible assets			1,543						245			1,543						353
			96,217						122,209			163,934						213,629
Liabilities assumed
Below-market lease intangible liabilities			—						(4,893)			—						(6,316)
Accounts payable, accrued expense and other liabilities			—						—			—						(24)
Purchase price (including acquisition costs)			$	96,217					$	117,316		$	163,934					$	207,289

Schedule of Mortgage Loans Receivable

The Company’s mortgage loans receivable portfolio as of June 30, 2023 and December 31, 2022 is summarized below (in thousands):

Loan Type						Number of Secured Properties						Effective Interest Rate (4)						Stated Interest Rate						Maturity Date						June 30, 2023						December 31, 2022
Mortgage (1)						1						5.75%						6.00%						7/26/2023						$	40,316					$	40,316
Mortgage (1) (2)						2						5.77%						6.50%						6/30/2023						6,000						6,000
Mortgage						46						9.55%						9.55%						3/10/2026						41,940						—
Mortgage (3)						3						8.03%						6.89%						4/10/2026						4,132						—
Mortgage (3)						10						7.57%						7.57%						6/10/2025						15,505						—
Total																														107,893						46,316
Unamortized loan origination costs																														6						62
Unamortized discount																														(141)						—
Total mortgage loans receivable, net																														$	107,758					$	46,378

(1) The Company has the right, subject to certain terms and conditions, to purchase all or a portion of the underlying collateralized property.

(2) The balance is expected to be settled via a like kind exchange subsequent to June 30, 2023.

(3) The stated interest rate is variable up to 15.0% and is calculated based on contractual rent for existing collateralized properties subject to the loan agreement.

(4) Includes amortization of discount and loan origination costs, as applicable.

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- Definition

Schedule of Asset Acquisition

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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