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Subsequent Events | 9 Months Ended
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Sep. 30, 2020
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Distributions On October 13, 2020, our Board of Directors declared the following monthly distributions for the months of October, November and December of 2020:
Record Date |  | Payment Date |  | Common Stock and Non-controlling OP Unit Distributions per Share |  | Series D Preferred Distributions per Share |  | Series E Preferred Distributions per Share
October 23, 2020 |  | October 30, 2020 |  | $ | 0.12515 |  |  | $ | 0.1458333 |  |  | $ | 0.138021 |
November 20, 2020 |  | November 30, 2020 |  | 0.12515 |  |  | 0.1458333 |  |  | 0.138021 |
December 23, 2020 |  | December 31, 2020 |  | 0.12515 |  |  | 0.1458333 |  |  | 0.138021 |
|  |  |  | $ | 0.37545 |  |  | $ | 0.4374999 |  |  | $ | 0.414063 |
Senior Common Stock Distributions
Payable to the Holders of Record During the Month of: |  | Payment Date |  | Distribution per Share
October |  | November 5, 2020 |  | $ | 0.0875 |
November |  | December 4, 2020 |  | 0.0875 |
December |  | January 5, 2021 |  | 0.0875 |
|  |  |  | $ | 0.2625 |
Series F Preferred Stock Distributions
Record Date |  | Payment Date |  | Distribution per Share
October 27, 2020 |  | November 5, 2020 |  | $ | 0.125 |
November 25, 2020 |  | December 4, 2020 |  | 0.125 |
December 24, 2020 |  | January 5, 2021 |  | 0.125 |
|  |  |  | $ | 0.375 |
COVID-19 As of November 5, 2020, we have collected 100% of all outstanding October cash base rent obligations and approximately 99% of third quarter 2020 cash base rent obligations. In April 2020, we granted rent deferrals to three tenants representing approximately 2% of total portfolio rents. The agreements with these tenants include current partial payment in exchange for rent deferrals of varying terms with deferred amounts to be paid by the respective tenant back to us, for the period starting in July 2020 and ending through March 2021. We have received and may receive additional rent modification requests in future periods from our tenants, but we have not granted any additional rent deferrals at this time. We are unable to quantify the economic impact of these potential requests at this time. Equity Activity Subsequent to September 30, 2020 and through November 5, 2020, we raised $1.4 million in net proceeds from the sale of 82,407 shares of Common Stock under our Common Stock ATM Program, $1.2 million in net proceeds from the sale of 50,033 shares of Series E Preferred Stock under our Series E Preferred ATM Program and $0.4 million in net proceeds from the sale of 18,459 shares of Series F Preferred Stock. Sale activity On October 21, 2020, we sold three of our Champaign, Illinois properties for $13.4 million, resulting in a gain on sale, net, of $4.1 million. Acquisition Activity On October 14, 2020, we purchased a 240,714 square foot industrial facility in Montgomery, Alabama, for $14.3 million. This property is fully leased to one tenant on a triple net basis with a remaining lease term of seven years. Financing Activity On October 14, 2020, we repaid $12.2 million of fixed rate debt, collateralized by two properties, at a weighted average interest rate of 4.79% and repaid $3.2 million of variable rate debt, collateralized by one property, at an interest rate of LIBOR + 2.25%.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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