Subsequent Events

9 Months Ended

Sep. 30, 2012

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Subsequent to September 30, 2012, the Company:

• drew $65,000 on its senior unsecured revolving line of credit and used the proceeds to repay mortgages payable with an aggregate outstanding principal balance of $77,392 as of September 30, 2012 that were secured by five properties and had a weighted average stated interest rate of 5.72%;

• closed on the sale of Mervyns - Bakersfield, a 75,100 square foot single-user retail property located in Bakersfield, California for a sales price of $3,250 and no anticipated gain or loss on sale due to impairment charges recognized during the nine months ended September 30, 2012;

• closed on the sale of Giant Eagle, a 116,100 square foot single-user retail property located in Columbus, Ohio for a sales price of $22,400 and anticipated gain on sale of approximately $5,457; and

• closed on the sale of Pro's Ranch Market, a 75,500 square foot single-user retail property located in El Paso, Texas for a sales price of $7,750 and no significant anticipated gain or loss on sale due to impairment charges recognized during the nine months ended September 30, 2012.

On October 5, 2012, all 48,518 shares of the Company's Class B-1 common stock automatically converted to shares of Class A common stock.