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Subsequent Events | 9 Months Ended
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Sep. 30, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Distributions On October 10, 2017, our Board of Directors declared the following monthly distributions for the months of October, November and December of 2017:
Record Date |  | Payment Date |  | Common Stock Distributions per Share |  | Series A Preferred Distributions per Share |  | Series B Preferred Distributions per Share |  | Series D Preferred Distributions per Share
October 20, 2017 |  | October 31, 2017 |  | $ | 0.125 |  |  | $ | 0.1614583 |  |  | $ | 0.15625 |  |  | $ | 0.1458333 |
November 20, 2017 |  | November 30, 2017 |  | 0.125 |  |  | 0.1614583 |  |  | 0.15625 |  |  | 0.1458333 |
December 19, 2017 |  | December 29, 2017 |  | 0.125 |  |  | 0.1614583 |  |  | 0.15625 |  |  | 0.1458333 |
|  |  |  | $ | 0.375 |  |  | $ | 0.4843749 |  |  | $ | 0.46875 |  |  | $ | 0.4374999 |
Senior Common Stock Distributions
Payable to the Holders of Record During the Month of: |  | Payment Date |  | Distribution per Share
October |  | November 7, 2017 |  | $ | 0.0875 |
November |  | December 7, 2017 |  | 0.0875 |
December |  | January 8, 2018 |  | 0.0875 |
|  |  |  | $ | 0.2625 |
Held for Sale and Leasing Activity On October 19, 2017, we executed a purchase and sale agreement with the tenant leasing our Arlington, Texas property to sell them the property for $5.6 million. We expect the sale to be completed during first quarter 2018. Concurrently with the purchase and sale agreement, we executed a lease amendment with this tenant, whereby the tenant has agreed to a 10-year renewal if the sale of this property is not completed for any reason. Credit Facility Activity On October 27, 2017, we amended our existing Credit Facility. The Term Loan component of the Credit Facility was increased from $25.0 million, to $75.0 million, with the Revolver commitment remaining at $85.0 million. The Term Loan has a new five-year term, with a maturity date of October 27, 2022, and the Revolver has a new four-year term, with a maturity date of October 27, 2021. The interest rate for the Credit Facility was reduced by 25 basis points at each of the leverage tiers. We entered into interest rate cap agreements on the amended Term Loan, which cap LIBOR at 2.75%. We used the net proceeds of the amended Credit Facility to repay all previously existing borrowings under the Revolver. We incurred fees of approximately $0.9 million in connection with the Credit Facility amendment. The bank syndicate is now comprised of KeyBank, Fifth Third Bank, US Bank and Huntington Bank. ATM Equity Activity Subsequent to September 30, 2017 and through October 31, 2017, we raised $0.2 million in net proceeds from the sale of 0.01 million shares of common stock in our Common Stock ATM Program. We made no sales under our Series A, B or D Preferred ATM Programs subsequent to September 30,2017 and through October 31, 2017.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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