Real Estate Investments, Net (Tables)

6 Months Ended

Jun. 30, 2020

Allocation of Assets Acquired and Liabilities Assumed

The following table presents the allocation of the assets acquired and liabilities assumed during the six months ended June 30, 2020 and 2019, 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 in both periods were considered asset acquisitions for accounting purposes.



	Six Months Ended June 30,
(Dollar amounts in thousands)	2020			2019
Real estate investments, at cost:
Land	$	25,454		$	10,978
Buildings, fixtures and improvements	107,342			165,261
Total tangible assets	132,796			176,239
Acquired intangible lease assets:
In-place leases	12,711			35,698
Above-market lease assets	53			352
Below-market lease liabilities	(871		)	(1,298		)
Cash paid for acquired real estate investments	$	144,689		$	210,991
Number of properties purchased	18			11

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 June 30, 2020 and December 31, 2019.



Country / U.S. State	June 30, 2020	December 31, 2019
United States	63.4%	63.0%
Michigan	14.2%	14.6%
United Kingdom	16.6%	18.2%